Business Planning Flashcards
(23 cards)
How may a public sector business plan be different to a private sector one
Private focuses on business goals
Public will be based of government goals.
Are you aware of AR’s business plan?
Yes, we have a 2025 plan in place.
The main aims are to increase growth in certain sectors such as nuclear, power and renewables, transportation and water.
Some KPI targets are:
- Increase revenue by 5% in buildings and places
- Increase diversity at all levels
- Utilising AI to become more efficient
What are SMART targets?
A way of establishing targets. Takes into consideration:
S - Specific
M - Measurable
A - Achievable
R - Relevant
T - Time-based
What are the different types of business plans produced?
Strategic
Operational
Departmental
Corporate
What is a business plan?
A business plan is a written document produced by a company that defines its business goals and aspirations
What would you consider when setting up a business plan?
Who are we? (Team / Company)
What are we trying to do? (Mission)
What problem do we solve? (Faster / better / easier / cheaper)
How do we reach our customers? (Sales / marketing / distribution)
What is a strategic business plan?
A strategic business plan provides a high-level view of a company’s overall goals and how it will achieve them. Most plans include five elements:
- Business Vision
- Mission Statement
- Definition of critical success factors
- Strategies for achieving objectives - marketing, operational, and financial
- Implementation plan
What is a departmental business plan?
A departmental business plan is a document focused on a specific department within a company. i.e. QS team will have focused / specific targets in the business which they need to meet.
Activities to review include
- Review of period metrics
- Do metrics meet goals?
- Do annual goals need adjusting?
What is an operational business plan?
An operational business plan details daily operation of a business over the course of a year to meet strategic objectives.
An operation plan defines how you allocate human, physical and financial resources to reach short-term objectives that support your larger business goals.
What is a corporate business plan?
A corporate business plan defines actions / a strategy that the business can take to meet the overall business objectives within their business plan. It is a more detailed plan of what steps a company must take to achieve its goals e.g. increase sales of product C by 30% during the next quarter.
What are your companies’ terms of business?
Terms of business – a document that sets out what services we offer to our clients. Also known as a schedule of services.
Limit of liability (project dependent, up to £10m) - normally 100% of our fee
Payment terms
What would you be interested in a clients business plan?
To understand the clients goals and aspirations – to help them reach / meet their objectives
To understand how we can shape the project you deliver to meet these objectives
Influence a project business case / brief
Use KPI’s
Understand the client’s financial position
What are your companies markets and industries?
Construction industry: Multi-discipline consultancy firm (offering quantity surveying, building surveying, project management)
Operate in Residential, Commercial, Heritage and Education
What is PESTLE analysis?
PESTLE analysis assesses key external factors that have the ability to influence a company.
P = Political
E = Economical
S = Sociological
T = Technological
L = Legal
E = Environmental
What are your companies’ values?
Innovation
Integrity
Collaboration
Safety
Excellence
Give me an example of how you have acted in line with one of your company’s values?
Safety = Actively acting with safety at the forefront of what I do when visiting sites
Integrity = Always doing the right thing, no matter what
What are AtkinsRéalis’ financial targets for the year?
5% increase on previous year revenue for my specific sector
£209m revenue is the target for 2025
What is contained within an appointment document?
Standard set of terms of business for different contracts
- Scope of service
- Duration of engagement
- Fee and payment terms
- Team that will be delivering the work
- Rates for additional items
- Exclusions
- Insurances
When was the last RICS business plan issued?
2021 – 2022 Business Plan, which was released / published in December 2021
What are centralised and decentralised organisational structures?
Centralised = decisions are made by top managers and are distributed down the chain of command
Decentralised = lower level employees pinpoint issues and make decisions before communication to upper management
What is a divisional organisational structure?
A divisional structure organises employees around a common product or location
What is a matrix organisational structure?
Hybrid - Employees are divided into functional teams that report to two managers - a project manager and functional manager. A matrix structure promotes duality and sharing of resources
