PennDOT Feasibility
Is Your Business Ready to do Business PennDOT
(DBE Services 2016) | Cynthia Moultrie and Mark Corbin Facilitator
Table of Contents
3. What is a Feasibility Study
4. Feasibility of the Business Idea
5. Is This the Right Business Idea?
6. Business Idea Analysis – First Things First
7. Market Analysis – Yes, More Research
8. Competitive Advantage – Do You Have One?
9. No Need to be Business Partner Registered
10. Engineering Construction Management System
11. ECMS Hint – Pay Attention
12. How to Register as a Business Partner
13. PennDOT Work Class Codes (A – P5)
14. PennDOT Work Class Codes (P6 – ZZ)
15. Upcoming DBE Webinar Schedule
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Feasibility Study
1. A feasibility study is an analysis of the
viability of an idea.
2. The feasibility study focuses on helping
answer the essential question of “Should we
proceed with the proposed project idea?”
3. All activities of the study are directed towards
helping answer this question.
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Feasibility of the Business Idea?
Answer the Question - First
1. Is your business idea a good one?
2. Analyze the business idea Market
analysis
3. Competitive advantage analysis
4. Financial feasibility analysis
5. Is PennDOT a Good Fit
http://www.clark-consulting.co.uk/wp-content/uploads/2012/12/iStock_000020104396_Small-586x300.jpg
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Is This the Right Business Idea?
Look critically and impartially at your business
idea when determining whether or not it's
worth investing your time and money.
• Find a business advisor/mentor who can
provide a qualified and objective
perspective.
•
A basic feasibility study will help you
determine whether your idea will make a
profit before you make a financial
commitment.
• Your feasibility study you should:
a. Analyze your idea
b. Market viability
c. Competitive advantage
d. Financial feasibility of the business
http://cspa.files.wordpress.com/2008/10/business-plan1.jpg
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Business Idea Analysis
First Things First
• First Thing: Look objectively at the
business idea and determine can you make
money.
• First Things First: Get a chair and go sit
down. Objectively study (a) location, (b)
market size and (c) competitors and
competitive advantage – competition
validates your idea.
• First Things First Again: Know how much
money you need and then multiply by two.
• This is First: Who’s in charge? – Can you
manage people and yourself?
http://www.themarketingbuzz.co.uk/userimages/MarketingStrategy.jpg
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Market Analysis
Yes, More Research
Once you have determined there is a market for the
product or service you are planning to supply, you need
to conduct more research which should include the
following:
•
PennDOT Demand Analysis: Does PennDOT
demand the work you perform? Yes or No?
•
The Bell Curve at Work: Is it the right time for
you to pursue PennDOT? Also study the work that
PennDOT does in within the and think about how
that will affect your business.
•
How are new entrants viewed?
•
Also study the work that PennDOT does within
your PennDOT District and analyze how it will
affect your business.
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Competitive Advantage
Do You Have One?
• You have arrived and know your ideas are
valid and there is a market for what you are
offering.
• Determine what makes your product or
service distinct. Ask yourself these
questions:
1.
2.
3.
4.
http://a1-marketing.co.uk/wp-content/uploads/2013/12/stand-out.jpg
How is my product or service different to those
offered by my competitors?
Are there any barriers to me entering the
market?
What makes my competitors successful?
Do I know how the PennDOT ECMS process
works?
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No Need to be Business Partner Registered
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The Engineering and Construction Management
System (ECMS) can give you background on the
types of work planned and advertised prior to
becoming a registered business partner, and you
have no obligation to register.
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Why do I need to be a registered business partner?
ECMS is the only vehicle that individuals
and firms can use to submit statements of
interest, technical proposals, price proposals
and to execute contracts if selected for work.
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Business Partner Registration
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DBE Supportive Services Team
Webinar Schedule
February 16th at 10:00am – 11:00am
Marketing to PennDOT – Business Plan
February 23rd at 10:00am – 11:00am
Getting Your Financial House in Order
DBE Website: http://www.pennsylvaniadbe.com/
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DBE Supportive Services
Contact Information:
Cynthia Moultrie, Director: cmoultrie@cheyney.edu
Telephone: 610-399-2093
DBE Website: http://www.pennsylvaniadbe.com/
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Sources
1. Feasibility Study: https://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html
2. Feasibility of the Business Idea: https://www.smallbusiness.wa.gov.au/business-life-cycle/pre-start/feasibility-of-the-business-idea/
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