Assess financial viability

Description

Revise and analyse financial information and requirements of projects such as their budget appraisal, expected turnover, and risk assessment for determining the benefits and costs of the project. Assess if the agreement or project will redeem its investment, and whether the potential profit is worth the financial risk.

Alternative labels

assessing financial viability
assess whether finances are viabile
evaluate financial viability
assess viability of finances
determine financial viability
estimate financial viability

Skill type

skill/competence

Skill reusability level

cross-sector

Relationships with occupations

Essential skill

Assess financial viability is an essential skill of the following occupations:

Investment manager: Investment managers administer the portfolio of investments that a company has. They perform close follow up of the investments looking for the most profitable solutions represented in financial products or securities. They analyse behaviour in financial markets, interests rates, and the companies’ position in order to advise on risks and profitability for the client.
Special educational needs head teacher: Special educational needs head teachers manage the day-to-day activities of a special education school. They supervise and support staff, as well as research and introduce programs that provide the necessary assistance for students with physical, mental or learning disabilities. They may make decisions concerning admissions, are responsible for meeting curriculum standards and ensure the school meets the national education requirements set by law. Special educational needs head teachers also manage the school’s budget and are responsible for maximising the reception of subsidies and grants. They also review and adopt their policies in accordance to current research conducted in the special needs assessment field.
Mergers and acquisitions analyst: Mergers and acquisitions analysts oversee the execution of transactions for the purchase, sale, merger or takeover of companies. They negotiate and complete the deal on the client’s behalf, by working closely with lawyers and accountants. Mergers and acquisitions analysts conduct operational and legal risk assessments of a company, assess comparable companies in the market and help with the post-merger integration.
Equipment engineer: Equipment engineers design and maintain the machinery and equipment in manufacturing facilities. They design machinery that adjusts to the manufacturing requirements and processes. Moreover, they envision the maintenance of the machines and equipment for uninterrupted functioning.

Publishing rights manager: Publishing rights managers are responsible for the copyrights of books. They organise the sale of these rights so books can be translated, made into movies, etc.
Component engineer: Component engineers design and envision the engineering development of different small parts composing a bigger project, machine, or process. They ensure that parts are not conflicting from an engineering perspective.
Heating, ventilation, air conditioning engineer: Heating, ventilation, air conditioning engineers design and develop heating, ventilation, air conditioning and possibly refrigeration systems for usage in residences, manufacturing sites, offices, commercial buildings, etc. They strive for solutions that serve the needs of clients and respond to architectural restrictions of sites.
Manufacturing cost estimator: Manufacturing cost estimators collect and analyse data to evaluate the money, materials, labour and time required for manufacturing processes. They conduct analyses to identify (alternative) cost effective technical designs and production processes. They develop and use methods and tools for cost planning, controlling and analysis. They also perform quantitative and qualitative risk analyses and report on the development of costs.
Investment adviser: Investment advisers are professionals who offer transparent advice by recommending suitable solutions on financial matters to their clients. They advise on investing pension or free funds in securities such as stocks, bonds, mutual funds and exchange-traded funds to customers. Investment advisers serve individuals, households, families and owners of small companies.
Video and motion picture producer: Video and motion picture producers supervise the entire production of a movie or television programme. They select the scripts that will be turned into motion pictures or series. Video and motion picture producers find the financial means to make a movie or television series. They have the final decision on the whole project, from development and editing to distribution. During large-scale productions, video and motion picture producers can be part of a team of producers and may be responsible for some of these tasks.
Book editor: Book editors find manuscripts that can be published. They review texts from writers to evaluate the commercial potential or they ask writers to take on projects that the publishing company wishes to publish. Book editors maintain good relationships with writers.
Agricultural engineer: Agricultural engineers intervene in a variety of matters within the agriculture field in combination with engineering concepts. They design and develop machinery and equipment for an efficient and sustainable exploitation of the land. They advise on the use of resources in agricultural sites comprising the usage of water and soil, harvesting methods, and waste management.
Budget analyst: Budget analysts monitor the spending activities of public and private institutions and companies. They prepare budget reports, review the budget model used in the company and ensure compliance with the budgeting policies and other legal regulations.
Producer: Producers are responsible for managing the production of music, motion pictures or series. They plan and coordinate all aspects of the production such as the direction, publication and financing. Producers oversee the production and manage all technical and logistic aspects of recording and editing.
Robotics engineer: Robotics engineers design and develop robotic devices and applications in combination with mechanical engineering principles. They use pre-established designs and current developments for improving or inventing systems, machinery and equipment. They combine several knowledge fields such as computing, engineering, and electronics in the development of new engineering applications.
Naval architect: Naval architects design, build, maintain and repair all types of boats from pleasure crafts to naval vessels, including submarines. They analyse floating structures and take various features into account for their designs such as the form, structure, stability, resistance, access and propulsion of hulls.
Music producer: Music producers are responsible for acquiring music to be published. They listen to demos of songs and determine whether they are good enough to be published. Music producers oversee the production of records. They manage the technical aspects of recording and editing.
Venture capitalist: Venture capitalists invest in young or small startup companies by providing private funding. They research potential markets and particular product opportunities to help business owners develop or expand a business. They provide business advice, technical expertise, and network contacts based on their experience and activities. They do not assume executive managerial positions within the company, but have a say in its strategic direction.
Manufacturing engineer: Manufacturing engineers design manufacturing processes for different kinds of production processes. They integrate those specificities and constraints posed by the industry or the product being produced with general and wide-spread manufacturing engineering principles into the design and planification of manufacturing processes.
Design engineer: Design engineers develop new conceptual and detailed designs. They create the look for these concepts or products and the systems used to make them. Design engineers work with engineers and marketers to enhance the functioning and efficiency of existing devices.
Rolling stock engineer: Rolling stock engineers design and oversee the manufacturing process and installation of rail vehicles, including locomotives, carriages, wagons and multiple units. They design new trains and electrical or mechanical parts, supervise modifications and resolve technical problems. They also perform routine maintenance duties to ensure that trains are in good condition and meet quality and safety standards.
Contract engineer: Contract engineers combine technical knowledge of contracts and legal matters with understanding of engineering specifications and principles. They ensure that both parts are aligned in the development of a project and foresee the compliance of all the engineering specifications and matters as defined in contracts.
Cost analyst: Cost analysts prepare regular costs, budgeting analyses and reports in order to contribute to the overall cost planning and forecasting activities of a business. They review and reconcile key balance sheets and identify new opportunities to save costs.
Automotive engineer: Automotive engineers design and oversee the manufacturing process and operation of motor vehicles such as motorcycles, cars, trucks, buses and their respective engineering systems. They design new vehicles or mechanical parts, supervise modifications and resolve technical problems. They make sure the designs comply with cost specifications and other constraints. They also conduct research studying environmental, energy and safety aspects.
Resource manager: Resource managers manage resources for all potential and assigned projects. They liaise with the different departments to see that all various resources are met, in a timely manner, and communicate any resourcing issues that may impact scheduled deadlines.
Power distribution engineer: Power distribution engineers design and operate facilities which distribute power from the distribution facility to the consumers. They research methods for the optimisation of power distribution, and ensure the consumers’ needs are met. They also ensure compliance to safety regulations by monitoring the automated processes in plants and directing workflow.
Property developer: Property developers buy land, finance deals, order construction projects and orchestrate the process of development. They purchase a tract of land, decide on a marketing strategy, and develop the building program. Developers must also obtain legal approval and financing. When the project is finished, they may lease, manage, or sell the property.
Programme manager: Programme managers coordinate and oversee several projects working simultaneously. They ensure workability and compatibility among projects ensuring that overall, each one of the projects under the management of project managers, turn out profitable and leveraging one to the other.
Production engineer: Production engineers review and evaluate production performance, perform data analysis and identify under-performing production systems. They search for long or short term solutions, plan production enhancements and process optimizations.
Aerospace engineer: Aerospace engineers develop, test and oversee the manufacture of flight vehicles such as aircrafts, missiles, and spacecrafts. The field of engineering they are active in, can be divided into two branches: aeronautical engineering and astronautical engineering.
Book publisher: Book publishers are responsible for the selection of new materials. They decide which manuscripts, that the book editor has provided, are being published. Book publishers oversee the production, marketing and distribution of these texts.
Insurance underwriter: Insurance underwriters assess business risks and liability policies and make decisions about commercial property. They inspect the conditions of businesses’ properties, analyse inspection policies, assist with real estate and rent issues, prepare loan contracts and handle commercial risks in order to align them with business practices. Insurance underwriters analyse various information from prospective customers in order to assess the likelihood that they will report a claim. They work to minimise risk for the insurance company and make sure that the insurance premium aligns with the associated risks. They can be specialists in life insurance, health insurance, reinsurance, commercial insurance, mortgage insurance.

Optional skill

Assess financial viability is optional for these occupations. This means knowing this skill may be an asset for career advancement if you are in one of these occupations.

Civil engineering technician: Civil engineering technicians help design and execute construction plans and take on organisational tasks, for example in the planning and monitoring, and in bidding and invoicing of construction work. They also calculate material requirements, and help with the purchasing and organising, and ensure the quality of the construction materials. Civil engineering technicians may perform technical tasks in civil engineering and develop and advise on policy implementing strategies for road works, traffic lights, sewerage and water management systems.
Geological engineer: Geological engineers apply geological knowledge for the assessment of sites, soils, slope stability, sediments and other observable characteristics in the Earth. They integrate this information in the planning and development of projects in those places. They assess and answer questions concerning the geological characteristics of soils by performing research and experiments of the sites aimed to be intervened.
Energy systems engineer: Energy systems engineers supervise the energy conversion and distribution processes. They analyse the energy supply and consumption efficiency developing new ways to improve the existing processes, taking into account both the technical and the financial aspects. They also study the environmental impact of energy usage and combine the production of renewable energy in the current power systems.
Financial manager: Financial managers handle all the matters in reference to the finance and investments of a company. They manage financial operations of companies such as the assets, liabilities, equity and cash flow aiming to maintain the financial health of the company and operative viability. Financial managers evaluate the strategic plans of the company in financial terms, maintain transparent financial operations for taxation and auditing bodies, and create the financial statements of the company at the end of the fiscal year.
Credit manager: Credit managers oversee the application of credit policy in the bank. They decide the credit limits to be imposed, the reasonable levels of risk accepted and the conditions and terms of payment made to the customers. They control the collection of payments from their customers and manage the credit department of a bank.
Solar energy engineer: Solar energy engineers design systems which generate electrical energy from sunlight, such as photovoltaic systems. They design and construct systems which optimise the energy output from solar power, and the sustainability of the production process of solar systems.
Budget manager: Budget managers assess financial proposals of different departments before granting financial resources to projects. They monitor the implementation of budget policies and procedures. They work closely with other departments in the evaluation of programs, their impact in the organisation, the revenue that they can yield, and the financial efforts required.
Credit union manager: Credit union managers oversee and manage member services, supervise staff and operations of credit unions. They inform staff about the latest credit union procedures and policies and prepare financial reports.
Electronics engineer: Electronic engineers research, design, and develop electronic systems such as circuits, semiconductor devices, and equipment that use electricity as a source of power. They work with capacitators, transistors, diodes or resistors to create electronic circuits and applications of use in fields such as telecommunications, acoustics, instruments, and control.
Industrial engineer: Industrial engineers design a vast array of production systems aiming to present efficient and effective solutions. They integrate a varied number of variables such as workers, technology, ergonomics, production flows, and product specifications for the design and implementation of production systems. They can specify and design for microsystems as well.
Mechanical engineer: Mechanical engineers research, plan and design mechanical products and systems and supervise the fabrication, operation, application, installation and repair of systems and products. They research and analyse data.
Electric power generation engineer: Electric power generation engineers design and develop systems which generate electrical power, and develop strategies for the improvement of existing electricity generation systems. They strive to conciliate sustainable solutions with efficient and affordable solutions. They engage in projects where supply of electrical energy is required.
Pawnbroker: Pawnbrokers offer loans to clients by securing them with personal objects or items. They assess the personal items given in exchange for the loan, they determine their value and amount of loan available and keep track of inventory assets.
Marketing manager: Marketing managers carry out the implementation of efforts related to the marketing operations in a company. They develop marketing strategies and plans by detailing cost and resources needed. They analyse the profitability of these plans, develop pricing strategies, and strive to raise awareness on products and companies among targeted customers.
Electrical engineer: Electrical engineers design and develop electrical systems, electrical equipment, components, motors, and equipment with the feature of energy transmission. They engage in large scale projects such as the design and maintenance of power stations, and the distribution of power to smaller applications such as household appliances.
Financial analyst:
Financial analysts conduct economic research and elicit valuable analyses on financial matters such as profitability, liquidity, solvency, and asset management. They provide recommendations on financial matters for decision-making processes. Financial analysts work in both the public and the private sector.
Lawyer: Lawyers provide legal advice to clients and act on their behalf in legal proceedings and in compliance with the law. They research for, interpret and study cases to represent their clients in a variety of settings such as courts and administrative boards. They create arguments on behalf of their clients for lawsuits in different contexts with the aim of finding a legal remedy.
Supply chain manager: Supply chain managers plan, manage and coordinate all activities related to the sourcing and procurement of supplies needed to run manufacturing operations from the acquisition of raw materials to the distribution of finished products. The supplies can be raw materials or finished products, and it can be for internal or external use. Moreover, they plan and commission all the activities needed to be performed in manufacturing plants and adjust operations to changing levels of demand for a company’s products.
Risk manager: Risk managers identify and assess potential threats and risks to a company, and give advice on how to deal with them. They create preventive plans to avoid and reduce risks, and put plans in place for when the company is threatened.
Energy engineer: Energy engineers design new, efficient and clean ways to produce, transform, and distribute energy to improve environmental sustainability and energy efficiency. They extract energy through natural resources, such as oil or gas, or renewable and sustainable sources, such as wind or solar power. 
Process engineer: Process engineers apply engineering concepts in order to improve all kinds of production and manufacturing processes in terms of efficiency and productivity. They evaluate the variables and constraints present in given processes and present engineering solutions to optimise them.
Investment analyst: Investment analysts undertake research to make informed recommendations to fund managers. They research investments globally but depending on the nature and field of their employer they can specialise in fields like retail, infrastructure, energy, banking and financial services. They focus on financial and economical information such as the political and economic developments that can impact financial markets, the financial performance of the target companies and use the interpretation of data from different sources to understand how it affects investment decision making.
Marine engineer: Marine engineers design, build, maintain and repair the hull, mechanical, electronic equipment and auxiliary systems such as engines, pumps, heating, ventilation, generator sets. They work on all types of boats from pleasure crafts to naval vessels, including submarines.
Operations manager: Operations managers plan, oversee and coordinate the daily operations of production of goods and provision of services. They also formulate and implement company policies and plan the use of human resources and materials.
Radio producer: Radio producers are responsible for organising the making of radio shows. They oversee aspects of radio shows such as content, audio production, resource planning and personnel supervision.
Civil engineer: Civil engineers design, plan, and develop technical and engineering specifications for infrastructure and construction projects. They apply engineering knowledge in a vast array of projects, from the construction of infrastructure for transportation, housing projects, and luxury buildings, to the construction of natural sites. They design plans that seek to optimise materials and integrate specifications and resource allocation within the time constraints.
Promotion manager: Promotion managers plan and implement the implementation of promotional programs in the point-of-sale of products. They coordinate all efforts from personnel, below-the-line (BTL) advertising material, and conventional advertising efforts in order to raise awareness of a specific promotion.
Instrumentation engineer: Instrumentation engineers envision and design equipment used in manufacturing processes for controlling and monitoring various engineering processes remotely. They design equipment for the monitoring of production sites such as manufacturing systems, machinery uses and production processes.
Substation engineer: Substation engineers design medium and high voltage substations used for the transmission, distribution, and generation of electrical energy. They develop methods for the efficient operation of the energy process, and ensure compliance to safety and environmental standards.
Application engineer: Application engineers deal with the technical requirements, management, and design for the development of various engineering applications, such as systems, new product designs, or the improvements of processes. They are responsible for the implementation of a design or process improvement, they offer technical support for products, answer questions about the technical functionality and assist the sales team.
Corporate lawyer: Corporate lawyers provide legal consulting services and representation to corporations and organisations. They give advice on matters relating to taxes, legal rights and patents, international trade, trademarks, and legal financial issues arising from operating a business.

 


 

References

  1. Assess financial viability – ESCO

 

Last updated on September 20, 2022