Project Viability

This skill set addresses the skills, knowledge and performance requirements to analyse options for viable activities in the implementation phase of a project, taking into account project variables including financial risk, as part of project approval processes.

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  • report on activities undertaken to establish a marketing mix such as:
    • customer service levels
    • product or service distribution
    • product or service pricing
    • additional products or services, if any
    • product or service promotion
  • report on success of activities and decide on necessary adjustments
  • prepare a budget and cost-management plan for a project
  • work with others to get resources within a budget
  • monitor costs variations and analysing possible alternatives
  • record financial reports and review costs
  • identify the context of the risk
  • Analysis the political, economic, social, legal, technological and policy context
  • Communicate with relevant stakeholders
  • develop and implement an action plan
  • monitor and evaluate the action plan
  • maintain required information

The units covered can be used to work towards qualifications including BSB50215 Diploma of Business, BSB51915 Diploma of Leadership and Management, or BSB51415 Diploma of Project Management

Units of Competency:

  • BSBMKG502 Establish and adjust the marketing mix
  • BSBPMG514 Manage project cost
  • BSBRSK501 Manage risk

Sample Learning Resources

Crowdfunding platform: Gather Change

Brett’s chat to Gather Change crowdfunding platform owner Rossco Paddison about using crowdfunding as a way to test the market, as well as raising revenue to get projects up and running.

Project boundaries

Boundaries are closely linked to objectives and they define the content of the project in terms of the expected results. What do you take out? what do you leave in? Here is some consideration, with more on developing your project’s scope in the members area: Project Boundaries

Project Costs

We also have a full guide on how to work this out in the members area, but here is something to get you going: Determining Project Costs

What is a “Risk Assessment”

You may be aware that these happen, but are you aware there is a formal process to undertake? Here is an explanation of the process, and a tool you can use: Risk Assessment

Presenting Your Project

If you think of management or investors as an internal customer you are trying to “sell” your idea to, then a presentation could follow this five step process: Investor buy-in