Opportunity Identification Screening (reloading the funnel)
Opportunity Identification Screening provides robust ranking based on user-defined technical, economic and commercial criteria that can:
a) be used to clearly explain to upper management the near-term new ventures plan
b) highlight the strengths and weaknesses of each opportunity allowing evaluation teams to focus on key deal success factors
c) for lower ranked opportunities - define what needs to change before those are reconsidered, and
d) help characterise new opportunities with respect to existing focus areas.
K2V provides services to initialise the reloading of your organisation's opportunity funnel, using your knowledge to rapidly evaluate and rank new ventures opportunities. The intention is to offer this as an initial service only to protect the integrity of your portfolio and screening values. It is expected that once your organisation's knowledge has been harvested and your business drivers calibrated, there will be no further need for K2V facilitation. It is appropriate that your organisation own the funnel as well as the means for reloading it. The points of entry are two-fold:
- data room evaluation
- funnel optimisation
DATA ROOM (Farm-in)
Data rooms are evaluated using a platform that combines a simple questionnaire with gap analysis to rank the attractiveness of an opportunity against peer or analogue ventures. Each ranking generates an opportunity finger-print which can be compared with peers to examine potential gaps, or differences of opinion. The platform provides a common focus for the review team, all of whom have been examining different components of the value chain for an opportunity. To see what the questionnaire might look like, a simulated dataroom can be examined and tested HERE. This platform is standalone and can be facilitated as a service or run internally.
DATA ROOM (Farm-out)
Organisations wishing to dilute or divest assets have a number of options available to them. Newest amongst these are crowd-sourcing opinion, potentially crowd-source funding for maturation. An experiment is underway with two North Sea based operations to pioneer new ways of doing business in this arena. Please contact firstname.lastname@example.org for more information.
Funnel optimisation works by harvesting and releasing knowledge lying dormant in your organisation. There are 5 managed stages involved in the process that takes up to a week to conclude, assuming 80% availability of knowledge holders. The stages include:
1. Framing (0.5 day)
2. Knowledge harvesting (3 days*)
3. Opportunity kracqing** (3 days concurrent)
4. Opportunity screening (0.5 day)
5. Opportunity ranking (1 day)
Each stage employs K2V Ltd. tools which may include facilitation services but the source of knowledge comes from within your organisation, not from K2V. One week is the compressed estimate for one opportunity. An extra day should be added for each opportunity run concurrently thereafter without K2V facilitation. K2V Ltd normally only provides facilitated screening as an “initialisation” service for process training – all subsequent screening (“loading”) should be conducted internally to maintain tight confidentiality. For more detail on this process, click HERE.
*Knowledge harvesting is the most time-consuming part of the process, as it requires soliciting opinion throughout your organisation. 3 days is the minimum achievable time required to do this but in reality, knowledge holders may be on leave, or out of the office and may not be able to respond in the time allocated. There is a trade-off between time and accuracy, which is a business choice.
** Opportunity kracqing is conducted using the Knowledge Ranking Assessment from Calibrated Quantitative Screening (KRACQS™) metadatabase, which now contains just under 40,000 discrete and confidential opinions from hundreds of geoscientists ranking all proven and speculative petroleum systems across the globe.