Capital Budgeting Techniques for Project Feasibility

This assignment delves into the crucial aspect of evaluating project viability and feasibility through the lens of capital budgeting techniques. It explores various methods used by entities to assess the efficiency and profitability of potential projects, ultimately aiding in informed decision-making regarding resource allocation and investment.

Learner declaration

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1.................................................................................................................................................3
1.2.................................................................................................................................................4
1.3.................................................................................................................................................5
2.1.................................................................................................................................................6
2.2.................................................................................................................................................9
2.3...............................................................................................................................................10
2.4...............................................................................................................................................11
TASK 2..........................................................................................................................................13
3.1...............................................................................................................................................13
3.2...............................................................................................................................................16
3.3 Enclosed in PowerPoint.......................................................................................................17
3.4 Business report.....................................................................................................................19
4.1...............................................................................................................................................20
4.2...............................................................................................................................................21
4.3...............................................................................................................................................24
CONCLUSION..............................................................................................................................25
REFERENCES..............................................................................................................................26
2

INTRODUCTION
The external business complexity has increased the role of the existing business by
incorporating changes in their current business environment. The statistical measures have been
used throughout the report which will help an entity in order to recognize the hidden talent of the
business entity. Balti Palace has been selected for this project report by applying the current
business tactics in order to reduce the market burden. It is also emphasizes on information
processing tools and performance evaluation techniques. The current business of Balti palace is
owned by single owner in order to take their own decisions. The initial investment is taken by
venture capitalist mode in order to operate their business without any initial hindrances. The
business has started in the past 5 years that is the reason the owner decided to expand their
business two different location. The locations where they can expand their business is in
different segments of the UK. The business can be expand in different situations such as
Birmingham, Spain.
TASK 1
1.1
Market research is essential aspects covered in framing business plan which helps an
entity in order to define all the prospective limitation that may arise in the future business path.
The current business plan of the researcher is to open a new restaurant in the City of London
whose viability need to assess by the researcher by conducting the existing market research
study. The focus of the researcher while conducting a study is to resolve all the issues arises in
the study. This study primarily focused on scientific knowledge, design, processes and objects in
order to gather facts and figures to support their study.
Opening a new restaurant in specific country imposes serious responsibilities on
enterprise owner in order to select best appropriate location to cater the needs and expectations
of all kinds of customers (Gerow, 2010). Balti palace need to collect data by personally visiting
the location in order to analyses the food habits and tastes and preferences of the customers. The
place is important as less number of competitors around that place will attract wide number of
customers in order to enhance the profitability of the business.
3

Primary data
The external market changes need to be closely conducted in order to assess the viability of the
project by conducting survey through circulating questionnaires. These will be distributed in
order to take consent of all customers to know their food preferences.
Secondary data
Balti palace can gather data by assessing online materials with the help of internet that collects
all accurate sources of data. The government can be used in order to know the total population of
London which are bifurcated into demographic and the geographical area. Balti Palace can
obtain information from books and journals by seeking external market trends of the food and
beverage industry. The data can be collected from internet and other records regarding area of
population by searching government records.
1.2
The survey methodology that could be adopted by Balti Palace may include designing a
questionnaire, use of face to face, interview, focus group among others. Questionnaire involves
designing simple questionnaires that will be easy and simple for the respondent to respond to,
while the face to face may require meeting respondents face to face and getting feedbacks from
them concerning the new restaurant. Interview also requires meeting the respondent or calling
them on the telephone. The focus group may involve selecting a group of professionals or
reputable customers who eat out mainly and seek their opinion in this regard.
Sampling is regarded as one of the important element in gathering data as it relieve the overall
work pressure on an enterprise (Black, 2011). The researcher need to gather data by applying
appropriate technique that can be used in order collect information from accurate sources which
will able to produce good and reliable results in order to resolve all kinds of issues. Balti palaces
are required to select the best suitable technique which will help an entity in order to analyze the
food trends in the external market. It can generate a good informational source which is related
to several things such as consumer tastes, food habits and overall price comparison. The survey
will be conducted in order to resolve all prospective issues arises in an enterprise will be resolved
by using questionnaire method. This questionnaire will be circulated among customers which is
fill up by the observer who will note down all the answers given by different respondents. Balti
4

palace need top target two set of 100 customers that is in total 200 customers are cross
questioned to obtain the truth. There are various sampling methods which can be used by Balti
Palace which are given as below:
Random sampling- It is one of the sampling collection technique in which different samples are
randomly selected y the researcher in order to bring out the truth (Berenson, 2012). The sample
size of the overall population is 200 customers which are targeted by this entity as customers are
the king of the market while opening that business that success is determined by the customers.
The food need to be quality oriented in terms of tastes and hygienic methods used by an
enterprise while preparing food also play a significant role for the buyers. The image of an entity
is reflected by the food served to all the customers.
Stratified sampling- The samples selected out of the total population is bifurcated into various
similar categories which will help an entity in order to deal with various needs and aspirations of
the different set of customers. The groups are designs by the researcher are referred to as the
stratum as all these groups are personally designed by the researcher. This division is done which
will help an entity for completing their research to be completed in a given time span. The
categories are segmented which will assist an entity to target all set of customers to accomplish
their entire goal and the objectives. This short achievement after completing all goals within
given time frame which will help an entity.
1.3 Questionaire
Questionnaire
Name-
Age-
Gender:
Male
Female
Transgender
1. What do you like to eat in restaurant?
 Vegetarian
 Non-Vegetarian
2. How may times do you visit Balti Palace restaurant in a month?
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 1-2 times
 2-4 times
 5-7 times
 7-10 times
3. How much do you spend on food in every time you visit Balti palace restaurant?
 £50
 £60-£150
 £200-£250
 More than £250
4. Do you like quality of food services offered in this restaurant?
 Yes
 No
5. The price is offered here is less than their competitors in the London?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strongly Disagree
6. Which kind of food cuisine who prefer to eat in the Balti palace restaurant?
 Italian
 Chinese
 continental
 Thai
 European
7. Which factors will determine your decision of visiting this restaurant?
 Price
 Quality
 Taste
 Food hygiene
6

 Waiting time
 Ambience
8. Are you satisfied with the prices offered by restaurant?
Yes
No
9. What factors of Restaurants you don't like?
Waiting time
Low food quality
10. Do you find special features in the existing restaurant?
Yes
No
11. Please provide your feedback_______________________________________
2.1
Type of cuisine Frequency
European 20
Italian 28
Chinese 10
Continental 42
TOTAL 100
7

European Italian Chinese Continental
0
5
10
15
20
25
30
35
40
45
20
28
10
42
Frequency
Interpretation
It has been observed from the above that Balti palace has offered variety of food cuisine
in order to catch the interest of most of the customers. The food variety is essential to attract
wide number of customers (Black, 2011). The variety of food cuisine likes European, Chinese,
Italian and continental food will retain all kinds of customers for long period with an enterprise.
The above bar chart will reveal the business efficiency which can be utilized by an enterprise in
order to gain higher level of customer satisfaction which is regarded as the basic factor. This
customer satisfaction can change an enterprise's condition by attracting them towards an entity.
The above ratio shows that out of total batch of 100 customer’s majority of the customers like
continental food as their flavors are phenomenons to attract the healthy individual to eat healthy
food in order to remain fit.
Essential factor Frequency
Price 15
Quality 20
Taste 15
8

Food hygiene 10
Waiting time 10
Ambience 30
Total 100
Price
Quality
Taste
Food hygiene
Waiting time
Ambiance
0
5
10
15
20
25
30
35
15
20
15
10 10
30
Frequency
Interpretation
It has been observed that an enterprise owner has classified different tastes and
preferences of an individual into different segments that attract an individual's interest towards
an enterprise (Gerow, 2010). The opinions of all the customers are segmented into different
variety which can be helpful for an entity in assessing their strengths and weaknesses. These
factors are those things which need to be incorporated by an entity in improving the existing
conditions of the business. Out of the total batch of 100 customers Balti palace has observed that
quality always remains in the top priority for an entity in attracting the basic interest of all kinds
of customers. The price and taste is another important factor for an enterprise as the customer
think it is the highly important factors for an enterprise. But the results had shown than ambiance
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of overall restaurant to facilitate all kinds of customers to feel comfortable while eating at the
outlet or take the food away with them.
2.2 mean, median, mode
Amount
Spent (£)
Number of
customers (f) Mid- value(x) fx Cumulative Frequency (CF)
10-20 18 15 270 18
20-30 20 25 500 38
30-40 16 35 560 54
40-50 14 45 630 68
50-60 12 55 660 80
60-70 8 65 520 88
70-80 6 75 450 94
80-90 4 85 340 98
90-100 2 95 190 100
100 4120
Mean calculation
Mean Formula= ∑FX/∑F
=4120/100
=41.2
Computation of Median
Formula= ∑F/2
=100/2
=50
The median value of 50 is in range of 30-40
Median= L1+[(N/2-C)/F]*i(class size)
M=30+[(100/2-38)/16]*10
10

M=30+7.5
=37.5
L1= Lower limits of the class interval
N= number of frequency
C= preceding cumulative frequency of 30-40 interval
F= Frequency of 30-40 class interval
i= class size that is difference between the class interval
Mode calculation
Z= L1+ (F1-F0)/[2(F1)-F0-F2]*i(class size)
Z= 20+ (20-18)/[2(20)-18-16]*10
=23.33
L1= Lower limits of class interval
F1= preceding frequency of class interval 30-40
F0= Succeeding frequency of class interval 30-40
F2= Frequency of class interval 30-40
Interpretation
The value of median and mode can be different while using continuous frequency system.
The value of mode is the repetitive value occur in the total data set which can be appear in the
any point of total data set. The median will only show mid value which divided whole data set
into two.
Mean-The arithmetic mean is the average of all the elements to be used by taking the overall
average that states a complete trend (Sobhani, 2011). It is one of the important measures of the
central tendency. The mean of the current business proposal is 41.2 which can be said that
average number of customers can spent money on food by paying bills in the restaurant is around
41.2 out of the total 100 set of customers. This will clarify all their doubts related to the
customer’s visit to this particular restaurant.
Median-It is another measure of the central tendency which is used to select the middle part of
the overall sample of population. From the above set of data gathered by conducting primary
research states that the median of the above data is 37.5 that shows lies between the class interval
of 40-50 pounds spent by the customer who visited this place.
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Mode- It is regarded as the trio element of the triangle of all the three components which re
connected to each other that is mean, median and mode of an enterprise. It is those methods
which occur repeatedly in the set of data. The above calculated mode shows that it belongs to the
category of 20-30 pounds spent.
2.3
Table 1: Calculation of standard deviation
Amount Spent
(£)
Number of
customers (f) Mid- value(x) FX X^2 FX^2
10-20 18 15 270 225 4050
20-30 20 25 500 625 12500
30-40 16 35 560 1225 19600
40-50 14 45 630 2025 28350
50-60 12 55 660 3025 36300
60-70 8 65 520 4225 33800
70-80 6 75 450 5625 33750
80-90 4 85 340 7225 28900
90-100 2 95 190 9025 18050
100 4120 33225 215300
Variance (S^2) = ∑Fx2 – ((∑Fx)2 /n)/ n – 1
= 215300 – (4120)^2/100/(100-1)
= 460.16
Standard deviation = √ Variance
= √ 460.16
= 21.45
Interpretation
12

The standard deviations show the measure of changes takes place that creates variation in the
current set of data by showing increases over the period. This value is around 21.45 rate at which
the changes in the tastes and preferences of all kinds of customer's gets changed.
2.4
Table 3: Calculation of percentile
Type of quartile Formula Figures
Lower quartile (Q1)
Q1 Q1 = ∑F/4 = 100/4
= 25
Q1 = L1 + (∑F/4 – C)/F * i = 20 + (25-18)/20*10
= 23.5
Upper quartile (Q3)
Q3 q3 = 3(∑F/4) = 3(100/4)
= 75
Q3 = L1+ [3(∑F/4)-C/F]* i = 50 + (75-68)/12*10
= 55.83
Percentiles Quartiles Values
25th percentile Lower quartile (Q1) 23.5
75th percentile Upper quartile (Q3) 55.83
Interpretation
The lower quartile is 25 and the middle quartile is 75th which shows totally enhanced version of
each other. The lower quartile is 23.5 which is generated into 75th quartile which is two times of
the lower quartile.
13

Inter-quartile range
IQR= Q3-Q1
= 55.83-23.5= 32.33
Sales (Units) Discounts (%)
20 1
40 4
50 6
55 6
60 10
70 12
80 13
90 14
100 15
Table 2: Calculation of correlation
Particulars Sales (Units) Discounts (%)
Sales (in Units) 1 0.97
Discounts (%) 0.97 1
TASK 2
3.1
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
0
2000
4000
6000
Advertisement
Sales
Interpretation
It has been observed from the above chart which can be seen like an incremental chart
whose performance has increases year to year (Gerow, 2010). The advertisement is the variable
14

cost which is directly link with the sales level of the business. It can be seen that the
advertisement cost is increases with the sales value of this enterprise but doesn't create any
significant impact on the current business performance. The overall sales level increases which
show the ability of an entity by controlling their expenses of advertisement. This can be due to
some reasons that an entity's brand image is strong enough in order to spend fewer expenses and
enhances the sales value in return.
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
0 1000 2000 3000 4000 5000 6000
Interpretation
The bar chart is another visual presentation of the sales level and the advertisement expenses
incurred by an enterprise. The expenses are less than compared to the total sales value generated
by an enterprise in a particular year. The overall ratio of sales is higher than the advertisement
expenses incurred by an entity in near future. The business efficiency also plays a significant role
in an entity as the control over their expenses shows the ability of an entity which can be
enhanced according to the skills and talent of an individual. The overall level of sales has
increases along with the advertisement expenses which are reduces from one period to another
period.
Pie chart for the net income generated by 5 branches of the company in 2015
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240
180 160
140
130
London
Birmingham
Bristol
Cambridge
Coventry
Interpretation
The pie chart is another important method of presentation of the data by applying the
percentage change in terms of increase or decrease (Chan, 2011). The pie chart is like a one
piece which are fragmented into several divisions which will help an enterprise. The famous
destinations are presented in the above pie chart which will help an entity in order to seek
external market opportunities by assessing the number of customers found in the particular cities
of the whole UK. It has been ascertained that London has wide number of customers who like
the food services offered by this restaurant and another city which is close to the results obtained
from the study is Birmingham.
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1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
Sales
Linear (Sales)
Advertisement
Interpretation
The scatter diagram uses a point that shows the business capabilities by showing
comparison among the two variables such as sales and the advertisement expenses. It can be seen
that sales level shows higher level of achievement as compared to the advertisement that lies at
the bottom. The Sales value is showing the diagonal direction that starts from initial position that
touches top position which showcases the capabilities of an entity in accomplishing all kinds of
goals and the objectives of an entity. The above figure shows the comparison among the most
important element such as sales and the variable cost incurred by an enterprise.
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3.2
1 2 3 4 5 6 7 8 9 10 11 12 13 14
0
1000
2000
3000
4000
5000
6000
f(x) = 267.16x + 783.41
R² = 0.98
Column C
Linear (Column C)
Interpretation
It is highly recognized from the regression analysis as it helps in determining the overall market
trends and patterns of the overall market (Black, 2011). Another name of this trend line chart is
the predictive analysis which helps in determining the market trend and financial objectives
which can be applied by an entity in order to make future business projections. The restaurant
business is totally based on the risks as uncertain situations are normally incurred in an
enterprise. This chart can analyze the normal working conditions of an entity which will help an
enterprise in order to make future obligations.
18

3.3 Enclosed in PowerPoint
19

20

21

22

3.4 Business report
To Director's of Balti palace
Date-28 November-2016
After analyzing the business performance of an entity it is essential to report to the management
of Balti palace about the financial condition of an entity. The current performance of an entity is
strong enough in order to beat their existing rivalry who imposes challenges to an entity in order
to enhance their existing working conditions. The profitability and base of customer’s is
beneficial for an entity as the restaurant business is totally based on the customer tastes and
preferences of all kinds of customers. The business efficiency can be improved by applying
tools and techniques to strengthen their existing business performance. It can use technological
software to improve their business capabilities.
Thanks and regards
Business analyst
23

4.1
Technology is regarded as one of the integral part of an enterprise which transforms the raw
information into the finished information. The tools and techniques used by the business
enterprise are required to change the traditional processing of information from one end to
another by adding the touch of technology. The role of these tools has increases with the
increasing external difficulties that may arise in the business. There is various information
processing tools which can help an entity in order to convey all important information which are
given as below:
Transaction processing system- It is an information processing system that can be used by n
enterprise in processing their raw facts and figures into useful information. The business
transactions involve various steps such as collection of data, modification and retrieval of all
kinds of business transaction takes places in an entity (Schoonhoven, 2011). It is essential for an
entity which will help in improving the existing business conditions. The various forms of
characteristics of this system include performance, reliability and consistency. This system is
based on the methods that act as criteria which will help an entity which are mention as below:
Authenticity-The accuracy of the information are tested by applying perfect techniques that will
assist an entity in gathering data from different sources. The reliable source of information will
be able to produce good results.
Consistency- This factor need to be maintained which can be said that information can be
gathered from one source will produce good and consistent results.
Isolation-The data need to be gathered from one particular source by completing the data by
following all the parts as there is no option to left the overall data by applying single techniques.
Durability- The data gathered will be durable for long time to support an entity in order to
produce results in achieving the long term goal and the objectives of an enterprise.
Management information system- In every organization management are the integral aspect of
an entity who make top decisions of the business and whole decision are respect by all
individuals. The information reports are prepared by an entity owner for all the activities takes
places in an enterprise that supports in achieving the aims and targets of the business. These
reports are supplied to top management in order to take consent on each and every business
matter to produce good results in terms of increasing sales and the revenue in near future. The
24

Balti palace need to make reports on the business plan of opening new restaurant after taking into
consideration all other factors that are strong enough to deal with the business complexities.
4.2
Task Name Duration Start Finish Predecessors
Replace window in
lounges 5 wks Fri 9/9/16 Thu 10/13/16
Rewiring 4 wks Fri 9/9/16 Thu 10/6/16
Re-plaster walls of
lounges 2 wks Fri 10/14/16 Thu 10/27/16 1
Fit lights in lounges 1 wk Fri 10/7/16 Thu 10/13/16 2
Decorate bedrooms 5 wks Fri 10/7/16 Thu 11/10/16 2
Install plumbing 5 wks Fri 10/7/16 Thu 11/10/16 2
Decorate lounges 4 wks Fri 10/28/16 Thu 11/24/16 3,4
Decorate kitchens 3 wks Fri 11/11/16 Thu 12/1/16 6
Decorate 2 wks Fri 11/11/16 Thu 11/24/16 6
Interpretation
Important segment of the performance management tool is the Gantt chart which is used to
determine the time scale in which an entity will be able to complete their business project by
dealing with all kinds tasks duties (Pettigrew, 2014). It is Alps known as scheduling of tasks and
duties which will help an entity in order to reveal the truth. The delaying in the single tasks will
lead to delaying in the overall business project. The Gantt chart will visually present the overall
activities in a systematic manner which will help an entity in order to determine the complete
time in which an entity will be able to complete the overall project in the short span of time. The
25

assigned user's efficiency can be checked when the users make errors while handling the
business projects.
Benefits of Gantt chart
 It helps an entity in order to compare the efficiency of the singular activities in relation
with the overall business project.
 The complete duration of accomplishing all tasks and duties of the overall project can be
as ascertained by applying these particular techniques of the performance management.
 It is regarded as one of the cost beneficial method in determining and monitoring the
singular efficiency and effectiveness of the overall project.
 It will clarify all kinds of tasks involved particularly in an activity that defines a direction
to the users are assigned with the responsibilities of accomplishing the activities within a
given time frame.
 It is also one of the important tools of communication as this can replace and enhances
the status of updates in the overall project. The changes take place in the cost structure of
an enterprise can be taken into considerations while preparing the Gantt charts.
26

Interpretation
The network diagram is another important tool of project management which is
efficiently used by an enterprise in order to visually present all the activities in a systematic flow
of activities. These activities are presented in a perfect flow that helps an entity in achieving their
goals by determining the critical path. The critical path is the total duration win which an entity
can finish their work. The critical path of this business project is 2+6+8 that is 4+5+3 that means
12 weeks.
4.3
Year Cash flows PV@12% Present value
0 190000
1 50000 0.8928571429 44642.8571428571
27

2 64000 0.7971938776 51020.4081632653
3 58000 0.7117802478 41283.2543731778
4 70000 0.6355180784 44486.2654883382
Total 181432.785167638
Npv -8567.2148323616
Interpretation
Net present value method is regarded as one of the important methods of the capital
budgeting that uses time value of money (Gerow, 2010). The time value is that approach in
which present facts and figures are properly analyses in order to predict the future figures. It is
that toll which help an enterprise in order determine the future profitability of the business. The
selection of the project on criteria of good or positive figures that help an entity. It can be seen
that the current business project of opening new restaurant will result into negative net present
value method.
Year
Cash
flows PV@12%
Present
value Year
Cash
flows PV@15%
Present
value
0 190000 0 190000
1 50000
0.8928571
429 44642.85 1 50000
0.8695652
174 43478.26
2 64000
0.7971938
776 51020.40 2 64000
0.7561436
673 48393.19
3 58000
0.7117802
478 41283.25 3 58000
0.6575162
324 38135.94
4 70000
0.6355180
784 44486.26 4 70000
0.5717532
456 40022.72
Total 181432.78 170030.12
Npv -8567.21 -19969.87
28

Calculation of IRR
=PVA-Initial investment/PVA-PVB*(B-A)%
=181432.78-190000/181432.78-170030.12*(15-12)%
=-8567.21/11402.66*3%
=12+0.02
=12.02%
Year cash flow
0 -190000
1 50000
2 64000
3 58000
4 70000
9.94%
IRR 10%(Approx)
The above rate of return is less than the internal cost of capital which helps an entity in
order to reject the proposal.
Interpretations
Internal rate of return is another method of capital budgeting used by an enterprise which will
help an enterprise in assessing the actual return earned by an enterprise. It is regarded as that
particular rate at which the initial investment and the cash flow generated by an enterprise. In the
above business project whose internal rate of return is around 12.02% which is slightly higher
than the internal cost of capital of an organization. The new rate of return is less than the new
rate of return obtained from applying IRR which helps an enterprise in order to select the project.
From the above application of both techniques of the capital budgeting which is regarded as one
of the best suitable techniques that is essential in order to analyses the probability of the business
projects (Black, 2011). The techniques are helpful for an enterprise restaurant business is risky
29

which requires high efforts of made by the business enterprise. The future profitability need to be
identified that helps an entity in order to make decision of taking new business opportunities.
Hence, it can be said that while applying all the two techniques this project can be taken into
account. The NPV has shown that this project will prove negative for an enterprise as it is
currently showing deficiency of the current project.
CONCLUSION
It can be summarized from the above project report that decisions of every is based while
applying statistical measures. The mean, median and mode are regarded as one of the important
methods which can be used by an entity. The statistical measures used by an entity in order to
transform their existing business conditions according to the external market changes. The
project viability and feasibility by applying capital budgeting technique which can be used by an
entity in order to assess their efficiency.
30

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