Improving the world through engineering 1 FS2011 Presentation Event Business Presentation 2011 Feedback Craig Powers Head Presentation.

Improving the world through engineeringImproving the world through engineering 1www.imeche.org/fs

FS2011 Presentation Event

Business Presentation2011 Feedback

Craig PowersHead Presentation Judge


How to approach the Formula Student Event Objectives How to Prepare ~ what to read Choice of Role Play

Common Mistakes and Problems

Selecting Content

Summary

Agenda


What is the Presentation Event? A business presentation, a role play, an act…

Objective To convince the judges to invest in your race car proposal

Convince the judges that….. You have a car that is ready for manufacture you have a sound business case you have minimised commercial and technical risk there is profit potential

Objectives


Rules & Source Material

Source Material

o RulesFSAE RulesFS UK Supplementary Rules

o Presentation AdviceIMechE website / FS Newsletters

o Learn to Win seminars• Annual event in London, October

o FS Question Database Resolve any queries in advance


Role Play

• Identify who your Audience is

Objective A presentation which is

Focussed & Precise

2 common scenarioso To Executive of a Manufacturing Companyo To Investors, e.g. Venture Capital Company

Make sure that the judges are aware of the role play and their role

Make sure all topics are addressed no matter what role play you choose


FSAE Rules

ARTICLE 4: PRESENTATION EVENTC4.1 Presentation Event Objective – Business Case

C4.1.1 The objective of the presentation event is to evaluate the team’s ability to develop and deliver a comprehensive business case that will convince the executives of a corporation that the team’s design best meets the demands of the amateur, weekend competition market, including Sports Car Club of America (SCCA) Solo, and that it can be profitably manufactured and marketed. (See also A.1.2)

C4.1.2 The judges should be treated as if they were executives of a corporation.


FSAE Rules

ARTICLE 4: PRESENTATION EVENT (continued)

C4.1.3 Teams should assume that the “executives” represent different areas of a corporate organization, including engineering, production, marketing and finance, and thus may not all be engineers.


Common Mistakes (1)

Venture Capital / Investor Role Neglect technical details of the car Neglect the engineering and development of the car Neglect manufacturing topics

Mistakes relating to choice of Role Play

Class 1A / Class 2A business scenarios Risk of overly complex business scenarios Spend too much time explaining the scenario ~ this

loses valuable time and you only have 10 minutes Same omissions as above ~ technical, engineering,

manufacture


Common Mistakes (2)

Failure to identify customer and market Weak market research No customer requirements How much is customer prepared to spend ~ lack of target

price Competitors / rival vehicles not identified, including prices Market volume not explained Excessive market share assumed

Poor business case


FS Supplementary Regs

3.1.8 Business Presentation Event requirements

Teams are not required to assume a production rate of 1000 cars per year. It is therefore open to teams to suggest a proposed market size and corresponding manufacturing volume / production run targets. The important element is that teams demonstrate the logic behind their assumption / proposal and are also able to demonstrate that it can support a viable business model for both parties.

Do not assume that a market of 1000 cars per year exists just because of the FSAE / FS rules.

Do not assume that you have 100% market share of a lucrative market

...unrealistic


Common Mistakes (3)

Poor business case

Unrealistic business case, arising from... Excessive market volume ~ not tied to market research Excessive market share (100% ~no rivals !) Excessive start up costs Labour costs too high ~ too many managers, not enough

technical manufacturing staff Excessive marketing budgets Insufficient profit per car


Common Mistakes (4)

Too much time spent on one topic

You have just 10 minutes to cover all topics including introduction, agenda, summary.

Spread your time equally between topics, ensure a good balance.

Make sure that you use the full 10 minutes

Incorrect balance


Structure

Completing the logical flow,…. Concept to Prototype, then Production and Profit

Market /CustomerRequirements

ThePrototype

Car

Design &Development

Processes

Production Compromises /

Manufacturability

ManufacturingMarketing,

Sales,Support

Finance & Commercial

Design Goals /Targets

BusinessProposal


Commercial Risk Know the market, identify the customer, identify rivals /

competitors Customer Requirements Set design goals (weight, performance, cost, etc) Ensure design meets the goals and can be manufactured Minimise start-up costs & operating costs Achieve target cost and selling price Can be manufactured at a rate / volume to suit the market

A CAR THAT MEETS THE REQUIREMENTS AND CAN BE SOLD AT A PROFIT

…. SOUND BUSINESS CASE

Minimising Risk (1)

Not necessarily a comprehensive list


Technical Risk Design Processes (CAD, FEA, CFD, Simulations, etc) Validation & Testing of Prototype Designed to aid manufacture / production compromises Testing Quality & Inspection Improving through experience

Objective : A CAR THAT ... WILL PERFORM WELL ... CAN BE EASILY MANUFACTURED ... WILL BE RELIABLE

Minimising Risk (2)

Not necessarily a comprehensive list


Avoiding Common Mistakes from 2011

Select the correct role play Address all required topics including manufacturing

and technical details of car Get the balance right Don’t spend too long on one topic Ensure business case is sensible and is linked to

market research Keep it simple

Summary


See you next year!

Thank you for your hard work

Hope to see you at Formula Student next year

Good luck!

Improving the world through engineering 1 FS2011 Presentation Event Business Presentation 2011 Feedback Craig Powers Head Presentation.

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