structured space to breathe, without losing momentum. An idea alone is an orphan. An idea owned by money has the chance to grow.
Infrastructure: A systemic view Many ideas come from a
conversation or dialogue between industry representatives and governments or key suppliers and replace it with industry. All ideas need a powerful sponsor to make them happen successfully. Unless this happens, many get caught in in a development circle and fail to have the kinetic energy to break out from being a good idea into a concept with enough stakeholders to invest time, money and personal capital to see whether the project is feasible. An idea needs a vision; a vision needs engagement, engagement needs a process; a process needs a framework; a framework needs a sponsor and a team and a sponsor needs to be able to get things done. If all three are in place, then the concept starts to take shape.
Strategic Direction and Feasibility Once the idea has been conceived,
the need has to be defined through general opportunity studies. These identify the most expedient way of delivering the need consistent with policy and values, and examine the overall investment potential and the economic benefits for the region or industry concerned. The strategic direction involves developing policy, creating a strategic brief and outlining the business case for the opportunity, identifying specific opportunities and alternatives that fit with the concept and can be conducted locally or with specialist international support.
Making a project viable:
Bankability and investibility Before significant time and monies are expended on full feasibility
studies, pre-feasibility studies are undertaken to establish whether the concept is viable and sustainable. These include market and location studies, input and raw materials availability and affordability, an environmental impact assessment and equipment supplier options. Additionally procurement modalities are assessed, along with economies of scale and Value for Money (VFM), benchmarking, financing and affordability. A pre-feasibility review at the right time can launch the project from a good idea into a credible opportunity. A team of experienced professionals (which at their best combine local know how and international experience) is appointed to look at the options, put some structure behind the vision and start a dialogue about what success would look and feel like to understand the value of the intended benefits. The main focus is on the the relative importance of the “Iron Triangle” – time, quality and cost and the “Design Quality” triangle – the impact, the quality and the functionality. Once all the data is gathered the team is in a position to determine whether the project is viable and can proceed to full feasibility study.
Bringing on board the
stakeholders At this point comes an opportunity with personal capital and the beginnings of investment capital. As potential stakeholders come on board, the opportunity starts to establish its position in the competing realities of political needs, economics, social, legal, environmental and regulatory factors, all of which shape the likely outcome of the proto project. To be competitive in the modern world the leading players want to
EMPOWERING LOCAL PEOPLE TO ESCAPE POVERTY IN SOUTH AFRICA
The Eastern Cape Province is one of the provinces most affected by poverty in South Africa. Thina Sinako or ‘we can do it’ was developed to tackle the issue of poverty in a sustainable way by harnessing the enterprise and skills of rural households to deliver jobs and economic growth for the province. This €38 million programme focused on significantly reducing the number of households living below the poverty line. The programme was designed and implemented under the leadership of the provincial government who ensured their ability to respond to the region’s priorities and needs. Thina Sinako was able to mobilise unexploited potential, harness local creativity, promote partnerships and through this, create economic growth and sustainable employment. Working in partnership with
GOPA Consultants GmBH, VNG International, Urban-Econ, KDBS and PricewaterhouseCoopers, WYG established an effective project co-ordinating unit, established an effective programme management unit and facilitated financial reporting in
understand whether the project will happen, who the decision makers are and where the project sits in a list of priorities. They also need to know how they can build relationships before the project happens, whether they can do anything to make the project happen and thereby establish an early stake in its success.
Getting support: UKTI and British
It will be clear to everyone in the preparation and launch of the
procurement who the Client is and who the Sponsor will be.’
26 GLOBAL OPPORTUNITY 2014 | ISSUE 01
Expertise This is where the UKTI, Export Finance (ECGD), Trade Association networks eg British Expertise and local partners all work to support early positioning. Engagement at the earliest possible stage will always add the most value. The cost of creating options and testing assumptions and making a project socially and economically viable at the early stages of gestation has the most significant impact. Awareness of a developing project, an ability to influence the outcome to make it successful and support the establishment of the right
global-opportunity.co.uk
OVERVIEW
|
GRAHAM OLVER
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