Creating and implementing a project can initially appear quite a daunting prospect and knowing where to start can often be the hardest part. To help guide you through this we have detailed below some tips and ideas.

 

  • Spend time thinking about the project in detail and how it might be delivered before you start the Doing! Ideally this should be before you seek any necessary consents such as planning permission.
  • Write down the details and the assumptions you are working on to bring the project forward.
  • Consider having a formal feasibility study undertaken first. This will provide valuable information which will help the delivery of a project once you get started.
  • Remember; just because you think it’s a great idea may not be enough justification for a funder to invest in the project, detailed evidence (such as market research) must be obtained and presented.
  • Do not underestimate the time, funds and risks involved in doing a project and consider all the risks and options. Sometimes known as optimum bias, the people leading a project can sometimes be too optimistic and not realistic about the challenges.
  • Do not become funding driven – you need to focus on what is the right opportunity for your project or business and not be solely driven by what funding may be available.
  • Don’t forget you are likely to need funds for working capital once you have your project up and running. You will need to provide funds for this on top of those required for the capital expenditure.
  • What is your USP? Understand your Unique Selling Point and how you are different from the competition.
  • Is a phased approach better than all at once? Can you achieve the same end result by breaking down the project into parts or phases and reduce the risk, cost and disruption?
  • If all this sound too much and you can’t see the way forward then try and break down the tasks into manageable parts and don’t be afraid to review the steps you have already taken if you feel the project is losing its way.
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