Feb
26
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?
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
- Requirements to undertake
- Affected Areas
- Potential impact
- Possible impact reduction steps
- External
- Market Trends
- Economic Environment
- Competitors
- Customer Study
- 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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