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Management article
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Reference no. 86502
Published by: Harvard Business Publishing
Published in: "Harvard Business Review", 1986

Abstract

The worst-case forecast of most capital expansion projects is rarely pessimistic enough. Staying power analysis can help a company better assess whether it can withstand the worst circumstances. These are the steps to take when doing a staying power analysis: 1) describe a hostile environment, 2) translate the consequent deteriorations into operating statement and balance sheet results, 3) make estimates based on the assumption that capital projects will encounter trouble, and 4) analyze cost-cutting possibilities. If the analysis shows company assets won''t be able to cover the debt, that must be known in advance. Then if people want to risk the company, at least they know that''s what they''re doing.

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Abstract

The worst-case forecast of most capital expansion projects is rarely pessimistic enough. Staying power analysis can help a company better assess whether it can withstand the worst circumstances. These are the steps to take when doing a staying power analysis: 1) describe a hostile environment, 2) translate the consequent deteriorations into operating statement and balance sheet results, 3) make estimates based on the assumption that capital projects will encounter trouble, and 4) analyze cost-cutting possibilities. If the analysis shows company assets won''t be able to cover the debt, that must be known in advance. Then if people want to risk the company, at least they know that''s what they''re doing.

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