They are the founding team of the project and usually refer to the group of individuals who come together to initiate and establish the project. They typically encompass the project sponsor or founder, investment founders (or co-founders), and the working team searching and testing the project.
Step-By-Step Process
- Before identifying your project team, it is advisable to set criteria for selecting a founding team that can involve sharing the same vision and passion, possessing the needed skills and experience, showing higher levels of commitment and availability, owning effective networks, becoming a valuable resource and committing financially.
- Identify the founding team, their points of engagement (e.g., owner, investors, staff, or contracting consultants), and roles.
- Describe their interests, requirements, and aims for the project.
Example
In a pharmaceutical manufacturing facility, the feasibility study has defined the founding team as per the following:
- Project sponsor or founder.
- Project founding board, those who invested in capital seeds of the project.
- Consultant team who conducted the feasibility study.
Useful Tips
- Form a founding team that can enable studying the project and take it to the implementation stage successfully.
Things To Avoid
- Avoid silent or irrelevant founding members.
Final Note
This article is sourced from my new book- Your Guide For Preparing An Industrial Feasibility Study.
For more information about the book: https://growenterprise.co.uk/book-your-guide-for-preparing-an-industrial-feasibility-study/
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The author: Munther Al Dawood- Industrial Enterprise Expert
Grow Enterprise 