Project Start Up – Feasibility Study – Outline

By Ian Burgess On February 26, 2009 · 3 Comments · In Project Management

In the initial stages of a project once the original idea has been voiced and gained momentum to potentially become a project what is the next step that almost all projects go through and all projects should?

The Feasibility Study

We will look at this in general and at a later date go deeper in to each individual element.

Lets look at this from one of the very initial stages of any project the feasibility study, in most cases this is the point where a project manager has to assess whether this is first of all a viable project to complete with the existing constraints and commercially a project that is actually worth doing?

Lets look at a basic outline for doing this (this is only an example not a illustration of a fixed template):

Outline
Projected Commercial Outcome
Suggested project delivery outline
Internal
1. Requirements to undertake
2. Affected Areas
3. Potential impact
4. Possible impact reduction steps
External
1. Market Trends
2. Economic Environment
3. Competitors
4. Customer Study
5. Potential impacts on Suppliers
the Projects Viability

For most projects the feasibility study will take between 2 days to 4 weeks in some cases it will fall out with this time period. The time taken will depend on the detail, complexity of technology, time and money (along with other elements) that should be focussed on this is based on the size in cost and time and the risk to the company reputational.

Most feasibility studies tend to forget the softer elements of the project like the clients continually developing the idea or changing their requirements, which is a risk to any project we will discuss this in and how to cope with it in detail later.

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3 Responses to Project Start Up – Feasibility Study – Outline

Darwish says:

July 13, 2009 at 11:09 am

what is a project

Reply
- Ian Burgess says:
  
  July 15, 2009 at 7:45 am
  
  A Project is simply something that requires more than one action to complete it, A fuller definition would be:
  
  “A project is a temporary endeavor, having a defined beginning and end (usually constrained by date, but can be by funding or deliverables), undertaken to meet particular goals and objectives, usually to bring about beneficial change or added value. The temporary nature of projects stands in contrast to business as usual (or operations), which are repetitive, permanent or semi-permanent functional work to produce products or services. In practice, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.” Definition taken from wikipedia
  
  Reply
- greg says:
  
  March 7, 2010 at 4:59 am
  
  project is some thing to be research or the task assign to you ,that you will going to cope up before you met the dead line.]
  
  Reply