Forest Planning and Business Management

This subject is not offered in 2016.

170 hours.

It is recommended that students have a sound working knowledge of spreadsheet tools such as Microsoft Excel.

For the purposes of considering request for Reasonable Adjustments under the Disability Standards for Education (Cwth 2005), and Student Support and Engagement Policy, academic requirements for this subject are articulated in the Subject Overview, Learning Outcomes, Assessment and Generic Skills sections of this entry.

It is University policy to take all reasonable steps to minimise the impact of disability upon academic study, and reasonable adjustments will be made to enhance a student's participation in the University's programs. Students who feel their disability may impact on meeting the requirements of this subject are encouraged to discuss this matter with a Faculty Student Adviser and Student Equity and Disability Support: http://services.unimelb.edu.au/disability

This subject covers the management of forest businesses and decision-making for public and private forest organisations. Students will be required to undertake the preparation of a business plan for a forest management enterprise including the preparation of a detailed financial model.

The subject incudes a one day industry seminar located at the Parkville campus and a one day industry field trip to Gippsland. The balance of the time will be located at Creswick.

Content includes:

• Commercial objectives of forestry enterprises;

• Wood as a product;

• Management of forest businesses and decision-making;

• Advanced budgeting, financial management and valuation, and assessment of silvicultural options;

• Long-term and short-term planning systems;

• Marketing and product mix;

• Integrating non-wood values into commercial forest management;

• Exposure and interaction with industry.

At the conclusion of this subject students will:

• Have an understanding of the scale and complexity of the Australian forest industry sector and explored the planning mechanisms involved
• Have a working knowledge of the language and principles of business management as they relate to forest management
• Understand the effect of scale in commercial forest activities and strategies to maximise benefit to growers
• Have analysed cash-flow for a forestry investment and conducted a discounted cash-flow analysis of various scenarios and risk elements
• Have used the preparation of a business plan to guide the student through the comprehensive materials provided
• Investigate and report on aspects of commercial management of forest plantations.

Students prepare a project plan prior to the face to face week – (200 words) (10%). The major assessment involves preparing a detailed business plan (approximately 3000 words) of a proposal to develop a plantation estate and the development of a financial model / analysis tool (equivalent to 1800 words)- this is done in 2 stages: Prepare and submit a draft business plan and financial model within 4 weeks of the face to face component (45%), submit a final version of the business plan and financial model - 6 weeks after the face to face (45%).

None

• A reference titled "An introduction to forest management as a business" will be provided.
• Forest Management: to sustain ecological, economic, and social values.(L S Davis et al) McGraw-Hill (4th ed.).
• Any general corporate finance text book; Peirson and Bird's Business Finance, (Peirson, G., et al, 1997, 7th edn, McGraw Hill, Sydney.
• General business dictionary e.g. Oxford Dictionary of Business and Management (Law, J. eds) Oxford Paperback Reference.
  
  

This subject is not available as a breadth subject.