If your business plan is complicated, requiring many steps or construction of a facility, a project plan with a timeline will be required at this step of the business plan.
Lenders may time payment advances with the various steps in the projects. At each step of the project, actual costs will be compared with estimated costs of the business plan. There will be decision points with regards to cost overruns or cost savings and the reallocation of monies from other parts of your business plan.
It provides a way of planning your time and resources so that all the necessary tasks are carried out within a given timescale. It will provide whoever sees your business plan with a 'snapshot' of how you intend to go about setting up your business. It should be broken down into the following sections:
- Objectives or targets
- Tasks/Actions
- Timescale
- Monitoring Progress
The plan does not need to be complex. It is a simple, disciplined means of getting your project completed in a reasonable time and with minimum confusion as to each person's responsibilities.
Timescale For Workshop Project - SAMPLE |
|||||
Task #/Name |
Person Responsible |
Month of Action for Task Assigned | |||
Sept |
Oct |
Nov |
Dec |
||
| Finalize planning permission | Joe |
X |
|||
| Apply for loan | Jane |
X |
|||
| Finalize suppliers | Susan |
X |
|||
| Liase with local building inspector | Henry |
X |
|||
| Seek Builders | Joe |
X |
|||
| Tender Information | Joe |
X |
|||
| Supervise Builders | Joe |
X |
|||
| Plan shop and interior design | Jane /Susan |
X |
|||
| Marketing materials created and distributed | Henry |
X |
|||
Legend: "x" becomes "V" when completed
- Business Plans -
