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Businesses face ever more complex decision-making requiring an increasingly explicit understanding of the potential outcomes to help minimise their risk. This third, expanded, and revised edition of this much acclaimed and definitive guide to creating business models is full of practical help on how to build the most robust, flexible, and easy-to-use models for analyzing the potential upside or downside of any business project.
This guide is aimed at both those who are business modelling novices and those with considerable experience who are keen to improve their business modelling skills. It covers every aspect of the process: defining the model structure and outputs; building the model components with all the factors that you will or may need to take into account; testing and debugging the model; and, finally, exploring scenarios and using the model to help you reach a business decision.
As well as being fully updated and aligned with the latest spreadsheet software, this new edition includes yet more model evaluation techniques and is accompanied by a website from which examples of models can be downloaded.
For anyone who wants to develop their business skills and especially for those with bottom line and business planning responsibilities, this is an invaluable guide to how to build spreadsheet models for assessing business risks and opportunities.
1 Introduction 1
2 Using Excel 6
3 Essential functions and features 23
4 The business model planning and development process 40
5 Defining the outputs 46
6 Uncertainty, scenario planning and model inputs 53
7 Developing the scenarios 59
8 Managing the model-building process 65
9 Best practice in model structure and sheet design 73
10 Graphical presentation 89
11 Forecasting revenue 105
12 Operating costs 141
13 Capital expenditure and working capital 152
14 Modelling funding choices 170
15 Financial statement development 181
16 Project appraisal and company valuation 191
17 Testing and debugging 212
18 Introduction to programming and macros 222
19 From spreadsheet to application 246
20 Driving the model 256
21 Documenting the model 268
Spreadsheet functions 275