The Problem: The assignment involved assessing the feasibility of a 175 million dollar mixed-use development project including a 30 story 5 star hotel with 275 rooms, a shopping mall, and a 12 story office building, under various development options in order to advise the client on the optimal project development alternative. 

The Approach: Boyadjian & Associates assisted the client in identifying the probable profitability of the proposed mixed use development. This included various departmental revenues and expenses, fixed operating costs, construction and development costs, cash flow and projected returns.   Our methodology consisted of the following:

• Study of the Algerian economy and the Investment Regulations

• A detailed supply and demand analysis

• Operations appraisal

• Financial modelling and valuation

• Sensitivity analysis. 

The Result: We helped our client assess the opportunity and develop realistic views about the project’s potential for success. Our different scenarios allowed the client to have successful negotiations with the hotel operator, the investment banks and the local investment promotion agency.

The Problem: In order to accelerate Beirut Central District’s development rate, catch up with the rest of the fast economies and stay ahead of competition by leap-froging into the next generation of Net-technologies, Solidere commissioned a group of consulting companies lead by seeCOSM/AMERICEC to prepare the technical and business plans for the broadband network services.

The Approach: Boyadjian & Associates assisted in the preparation of the financial feasibility of the projected operations. Our services included the following:

• Product and service description

• Market analysis, needs assessment and SWOT analysis

• Project Implementation strategy and scheduling

• Setting up indicators in order to monitor and evaluate the project

• Financial modelling and projections

• Financial plan.

The Result: The study and its recommendations helped Solidere’s Board of Directors to finalize the adoption of the project and allocate the necessary funds to implement it.

Financial Advisory for a PET Manufacturing Company

The Problem: Petco a PET preform and bottle manufacturing company producing for Nestle, Coca Cola and Pepsi with 20 million dollar sales per year, had to restructure its operating and financing strategies to achieve healthy operating results. 

The Approach: Boyadjian & Associates’ assignment involved assessing the feasibility of the company’s strategies, determining its financing requirements and structuring the financing of these requirements. Our services included the following:

• Financial Due Diligence

• Financial Modelling and Projections

• Strategic Financial Advisory

• Valuation of the Company

• Monthly Financial Reporting. 

The Result: Boyadjian & Associates' analysis, advises and monthly reports allowed the Board of Directors to adopt a new business plan, to negotiate with banks and to monitor the operations on a monthly basis.

Strategic Financial Advice for a Spatially Enabled Electronic Regional Tourism Portal

The Problem:  The Internet is systematically transforming industry after industry. To an increasing extent, a company does not exist if it is not present on the Internet. Boyadjian & Associates was commissioned by seeCOSM inc. to provide strategic financial advice, project development, management and related consulting services for the development of the business plan for a portal to promote regional tourism for the MENA region. 

The Approach: In accordance with norms and standards for business plans, Boyadjian & Associates proceeded as follows:

• Objective, mission and keys to success identification

• Product and service description

• Market analysis, needs assessment and SWOT analysis

• Project Implementation strategy and scheduling

• Marketing and sales strategy

• Management and personnel plan

• Financial plan. 

The Result: The business plan helped seeCOSM seek investment from Funding agencies, Private equity investors and venture capitalists.

Feasibility Study Review of Al Qishlah Palace and Madinah Hotel

The Problem: The assignment involved reviewing the already prepared but not satisfactory feasibility studies of an international consultant for operating the Qishlah Palace, for establishing the Madinah Hotel and for initiating an Arts restaurant within the city center of Ha’il K.S.A. 

The Approach: In accordance with international norms and standards for feasibility studies, Boyadjian & Associates proceeded for each component as follows: 

• Analysed the methodology of the feasibility studies that have been conducted

• Assessed the scope of the feasibility studies in terms of marketing and financial indicators, revenue and expense assumptions, capital expenditure, terminal value, discount rate, growth rate and other relevant business valuation parameters

• Recalculated the income and cash flow statements, profitability and economic indicators of the three projects

• Introduced recommendations to enhance the quality and accuracy of the feasibility studies. 

The Result: The prepared feasibility studies helped the Ha’il development agency to attract investment and promote tourism in the city.

Project Prioritisation for an International N.G.O

The Problem:  One of the key areas of long-term decision-making that organizations tackle is finding the right opportunities to improve their finance or even their image. Kids Alive International wanted to make changes in different areas of its operations in order to meet the challenges that the dynamic nature of the environment brings and also in order to survive and prosper. 

The Approach: Boyadjian & Associates was commissioned by Kids Alive International to provide the following services:

• Identification of opportunities and provision of comparative evaluation against defined criteria including cost, development viability and management availability.

• Risk Valuation.

• Economical Feasibility, cash flow projections, financial forecast to achieve the best return on investment, the best pay-back period, and the best net present value. 

The Result: Based on the various dimensions of value provided by different projects, Boyadjian & Associates developed a prioritization methodology bringing rationality to the investment decision making process of the organization.

Project Finance Advisory for BOT Toll Road Project

The Problem: The Client commissioned Boyadjian & Associates to assess the economics of a B.O.T. Toll Road project. The objective was to examine factors such as vehicle operation costs, value of time, tolls, the effect of uncertainty and political risk.

The Approach: Several tolling strategies were investigated including open, closed and hybrid systems with flat and kilometric tolls for various time-of-day periods. To increase the benefit of the analysis, our services included the following:

• Sectoral research

• Traffic and revenue forecast

• Financial modeling

• Sensitivity analysis

• Drafting key financial and contract documentation

• Identification of suitable finance sources and development of marketing/syndication/negotiation strategies

• Establishment of the risk allocation methods and pricing

• Drafting the Information Memorandum for various funding sources

• Identification of exit strategies and timing.

The Result: Boyadjian & Associates' analysis and advises allowed the client to examine the total project value and risk. By doing so, they were able to identify the key drivers of the project and to negotiate the concession agreement.

Integrated Project Economic & Financial Modelling for Power Generating Plants

The Problem: In order to improve the financial and operational status of the energy sector entities, the Government of Republic of Armenia wanted to identify the appropriate size and technology of safe and reliable energy projects attracting private capital investments for refurbishment, expansion and development.

The Approach: Boyadjian & Associates applied its economic modelling expertise to develop accurate and flexible methodologies and software systems, to assess incremental project risk and reward using Decision tree and Monte Carlo analysis. We designed a consistent reporting format while maintaining the option to incorporate project-specific variables. This enabled to assess not only the project's cash flow, but to make meaningful comparison across projects.

The Result: Benefits to the Client included the ability to identify and accurately quantify the following:

• The main risks that will impact on the success of the Project

• The value of flexibility and pre-investment

• Up-side, down-side and expected outcomes.

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Hospitality Project Development

The Problem: The client, a major investor, required a market and financial feasibility study for a four star hotel accommodating 200 rooms and facilities.

The Approach: Boyadjian & Associates assisted the client in identifying the probable revenues and expenses of a proposed hospitality development. This included occupancy and average daily room rate levels, other departmental revenues and expenses, fixed operating costs, construction and development costs, cash flow and projected returns based on market and industry research.   Our appraisal included:

• Detailed market demand analysis

• Market position studies

• Facility programming

• Financial modelling

• Identification of development partners

• Selection of an operator.

The Result: From Feasibility Study to Concepts and Negotiation of Management Contracts, we lead our client to the successful completion of the project. We helped our client assess the opportunity and develop realistic views about the potential for success.

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Sectoral Research/Market Entry Solutions

The Problem: An international engineering company wishing to penetrate the Lebanese market commissioned Boyadjian & Associates to undertake sectoral research to determine the size of the market, the trend and the segmentation.

The Approach: Boyadjian & Associates designed a market research study to collect the data and to develop a segmentation strategy. Boyadjian & Associates' first step was to design and implement a survey that resulted in 1000 completed surveys representing the clients. Then we developed a segmentation model, using discriminant analysis, factor analysis and cluster analysis techniques to assign survey respondents to segments according to needs, values and other characteristics.

The Result: The report was completed within four months and included specific marketing strategies that facilitated subsequent negotiations. Within six months, the client had signed contracts valued at several million dollars.

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Joint Venture Matchmaking/Company-Specific Information

The Problem: A leading international company wishing to enter the Lebanese market asked Boyadjian & Associates to conduct a search for prospective business partners in order to negotiate a joint venture.

The Approach: Boyadjian & Associates identified prestigious companies and supported the client detailed background information, including a financial analysis of the companies, surveys of deals made with expatriate firms, and summaries of financial status and workforce relations.

The Result: Selecting the "right" partner generated significant benefits:

• Access to the partner's core infrastructure necessary to facilitate efficient and profitable operations.

• Opportunity to position in the market place and to have a positive impact on market penetration and performance.

• Opportunity to create value through operating efficiencies.

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Real Estate Feasibility Study

The Problem: An independent investor, having received inquiries about the potential for joint development at several of his sites, wished to prepare master plans that would identify the types and magnitudes of use that would be appropriate in each location. Fundamental criteria for the selection of uses were:

• Not to interfere with operations

• To generate a threshold land value, to be paid in the form of land rent.

The Approach: Boyadjian & Associates completed market and real estate feasibility analyses to assess the feasibility of joint development projects. Our consulting team identified the physical and economic conditions under which joint development projects would be feasible. Boyadjian & Associates' services included the following:

• Highest & best use analysis

• Market and economic feasibility

• Needs assessment

• Project strategic programming

• Value-based planning.

The Result: Study recommendations were incorporated into master plans that provide physical guidelines for joint development projects, identify the characteristics of land leases that would be appropriates, and describe the physical and economic features of prototypical developments that would be permitted by the recommended plans.

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Sectorial Research/Assessment of the Engineering Job Market in Lebanon

The Problem: In partnership with the National Employment Office, the Order of Engineers of Beirut wanted to assess the number of unemployed engineers and to find solutions.

The Approach: Boyadjian & Associates designed and administered a large field study, completing surveys with over 3000 engineers. Our market analytic experts provided the full range of state-of-the-art market research and data analysis services needed to solve mission-critical problems. Our services included the following:

• Research design

• Questionnaire development

• Sample testing

• Implementation of verification systems

• Market assessment

• Benchmarking

• Policy planning report.

The Result: Boyadjian & Associates research professionals produced data for:

• Policy decision-making

• An analysis of existing unemployment

• Estimates of the impact.

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Cost Control System for a General Contractor

The Problem: A large general contractor was using a custom job cost accounting system that was running on an antique mainframe. Numerous disparate systems were in place across the organization. The client was looking for a new cost control system that serves its business purpose and integrates all of the companies various functions. The client was looking for a real-time tool that would allow them to:

• Reduce the number of days in their closing and reporting cycle

• Produce faster and more informative reports

• See data from a business view compared to an accounting view

• Have online access and reporting

• Enforce and monitor business roles with ease throughout the cost-control process.

The Approach: Boyadjian & Associates developed a high-level information system requirements definition, analyzed the integration issues of all of the company's systems and determined whether any could be upgraded, and helped the company select a new cost control system. This involved the analysis of accounts receivable, billing & cash receipts, accounts payable, cash disbursements, general ledger and financial statements. We evaluated job cost allocations for payroll, cost accounting, equipment depreciation and material.

The Result: The new system allowed our client to implement a world-class cost-control solution within four months while enhancing our client's business processes and job costing. By implementing the platform, our client is now well-equipped with an infrastructure that can scale with their growth.