Finance & AccountingAdvanced 3 to 5 hours

Sensitivity Analysis on a Major Investment

Model NPV sensitivity to revenue, cost, and discount rate for a R10M expansion.

The Scenario

A South African food manufacturer is considering a R10M factory expansion. Base case projections show NPV of R2.4M over 8 years. The board wants to know: "How wrong can we be before this investment destroys value?"

The Brief

Conduct a sensitivity analysis on the base case NPV. Vary revenue (±20%), operating costs (±15%), and the discount rate (10%-16%). Identify the break-even value for each variable.

Deliverables

  • The base case NPV calculation with all assumptions stated
  • A sensitivity table: Variable, Base Case, -20%/-15%, +20%/+15%, NPV at each, Break-Even Value
  • A tornado chart description ranking variables by impact on NPV (which variable matters most?)
  • A scenario analysis: best case (all variables favourable) vs worst case (all variables adverse)

Submission Guidance

The break-even value tells the board "revenue can drop by X% before the NPV hits zero." This is far more useful than a single-point NPV estimate.

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