{"id":716,"date":"2013-01-15T03:04:53","date_gmt":"2013-01-15T08:04:53","guid":{"rendered":"https:\/\/www.artsbuildontario.ca\/pibi\/?p=716"},"modified":"2017-04-21T14:43:15","modified_gmt":"2017-04-21T18:43:15","slug":"institutionalmarket-feasibility","status":"publish","type":"post","link":"https:\/\/www.artsbuildontario.ca\/pibi\/?p=716","title":{"rendered":"Institutional & Market Feasibility"},"content":{"rendered":"

Assessing your institution\u2019s capacity to undertake the project<\/h2>\n

Figuring out whether your group is ready to embark on a major capital project is an essential and often-overlooked step<\/b> in the feasibility analysis process.\u00a0 It requires honest introspection<\/b> and a willingness to make significant institutional modifications in order to serve the project\u2019s mission.<\/p>\n

If the institution can\u2019t make the changes required by the project, the project concept needs to be adjusted.<\/p>\n

Key Questions to ask (among many others):<\/h2>\n
    \n
  • Is there strong leadership<\/b> on the board and staff that can direct a multi-year project with energy, credibility, and stamina?<\/li>\n
  • Is the composition of the board<\/b> adequate to lead a capital fundraising effort of the projected magnitude?<\/li>\n
  • Are your stakeholders enthusiastic<\/b> about a project\u2019s outcomes?<\/li>\n
  • What could be the impact to operations<\/b> while the project is under construction?<\/li>\n<\/ul>\n

    Understanding the economic context and results of the project<\/h2>\n

    A market analysis<\/b> looks outside<\/b> the organization to assess the market\u2019s size, trends, segmentation, and success factors that may impact a new facility project.\u00a0 For projects that contemplate minor facility improvements, this work may be fairly simple.\u00a0 For a project that adds significantly to the cultural infrastructure of a community, detailed surveys<\/b>, demographic analyses<\/b>, and market-penetration assessments<\/b> will be required, taking a team of consultants many months to gather and analyze the relevant data.<\/p>\n

    Understanding the project\u2019s impacts on your business<\/h2>\n

    A business and operational plan<\/b>, by contrast, focuses on internal<\/b> factors that are affected by a new facility.\u00a0 The plan should include:<\/p>\n

      \n
    • Operating budget<\/b> and projected cash flow<\/b> models<\/li>\n
    • Projected staffing<\/b> and operating costs<\/b> for the new facility<\/li>\n
    • Possible effects<\/b> on annual giving from a major fundraising effort<\/li>\n<\/ul>\n

      This work will likely be led by in-house financial staff with the assistance of consultants.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Assessing your institution\u2019s capacity to undertake the project Figuring out whether your group is ready to embark on a major capital project is an essential and often-overlooked step in the feasibility analysis process.\u00a0 It requires honest introspection and a willingness to make significant institutional modifications in order to serve the project\u2019s mission. If the institution […]<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[71,67,10],"tags":[],"class_list":["post-716","post","type-post","status-publish","format-standard","hentry","category-assessing-feasibility","category-concept-feasibility","category-new-con"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/posts\/716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=716"}],"version-history":[{"count":8,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/posts\/716\/revisions"}],"predecessor-version":[{"id":2472,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=\/wp\/v2\/posts\/716\/revisions\/2472"}],"wp:attachment":[{"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=716"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.artsbuildontario.ca\/pibi\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}