INSTITUTE OF QUARRYING AUSTRALIA
REVENUE AND RISK ROADMAP
The Institute of Quarrying Australia (IQA) undertook a review of its strategic direction and in doing so, identified it needed to assess its existing and potential revenue streams and associated risks.
Together with the strategic planning process undertaken by Strategic Membership Solutions and Risk Review conducted by MI Global Partners, Mayvin Global undertook to develop a Revenue and Risk Roadmap for the Association.
The Roadmap presented three areas for consideration:
Underperforming revenue streams: It was identified that IQA had a solid diversified revenue (and profit potential) portfolio, with six core revenue streams. However, some of these were under-performing and inter-linked, creating risk.
Potential revenue streams: Five new revenue streams were identified as options for IQA. With each of these given a priority level based on existing resources, skills and initial risk considerations.
Risk considerations: Eight risk considerations were presented aligned to the existing and potential revenue streams.
The IQA Strategic Plan was revised incorporating these revenue and risk considerations.
"As part of our Strategic review, IQA engaged Mayvin Global to undertake a Revenue & Risk Analysis and provide a Revenue Diversification Roadmap. We found the process well thought-out, aligned to the requirements of our association and the team worked well with another consultant that was simultaneously developing our Strategic Plan. It was important these two pathways aligned and collaborated.
Deanna facilitated sessions with our Board and Committee, both face to face and virtual to extract key information that supported the development of the Roadmap while also challenging our thinking. I particularly valued the commercial thinking approach and revenue/risk lens through which they viewed our revenue streams and potential future sources. The team were responsive to feedback and considered or debated the options. They provided a high level and detailed roadmap that will see us to the next stage of our journey again."