Business Planning Flashcards
Are you aware of any of the objectives within the RICS business plan 18-21?
Influential thought leader
Trusted by our stakeholders and society
RICS professional qualifications remain in demand
Sustainable 21st century professional body
What are the key elements of a business plan ?
Executive summary.
Business description.
Market analysis.
Organisation and management.
Services
Funding requirements.
Financial projections.
Appendix.
Conclusion.
Can you tell us about your company’s current business plan?
?
What is your company’s management structure / business model?
?
What are your company’s values?
- Leadership
- Diversity
- Training
- Wellbeing
- Integrity
What tools does your company use to manage its business?
?
How do you ensure that you contribute to the achievement of your company’s objectives / business plan?
‘TFT’ typically have bi-annual business updates, however during the current national pandemic, these have been more frequent.
I appreciate the importance of accurately measuring performance and capacity to be effective and profitable.
To aid this process, I provide timesheets, fee projects and project updates to the partners weekly.
KPI’s -Performance review
What is contained within an appointment document? What are your company’s terms of business?
- A brief description of the project
- Scope of work to be undertaken
- The fee (ex VAT)
- Start dates
- PI amount required
- Unresolved disputes resolved by Adjudication
What are the Business Legal Structures?
1. Sole Trader 2 . Partnership 3. Limited Liability Partnership 4. Limited Liability Company 5. Franchise
How often should a business plan be reviewed
No set rules:
- Twice a Year
- Quarterly depending on business
What are KPIs?
Key Performance Indicators - measurable values against which a company’s success can be determined
How often should a business pan be reviewed.
No rules
- At least twice per year.
- Every Quarter
