Financial Model Development
Our approach is simple. We talk to you to understand your needs. We share our ideas with you. We work towards a common goal. We follow a tried, tested and continuously improved methodology for model development that combines business analysis, financial, commercial and technical skills – that’s why our team are specially chosen for this mix of skills.
Model Development
There are a wide range of variables to be taken into account when developing a model, each affecting the time and skills needed to build the model. Each model will be developed for a specific purpose. The starting point and degree of information readily available will vary.
Stage 1: Scope & Design
- Identifying the purpose and objective of the model
- Identifying users of the model
- Identifying constraints, such as limitations on time or resources
- Identifying data requirements and availability
- Identifying any specific output requirements
Confirm scope and specification of the model
Stage 2: Develop & Populate
- Begin data collection
- Development of input area of model
- Development of output area of model
- Development of calculations
- Populate model with initial data
Initial model review of inputs and outputs by users
Stage 3: Review & Use
- Refinement of model output and update of data input
- Further reviews to refine final model
- Independent review of final model (if required) and update
- Use of final model confirmed with stakeholders
Completion of model development