Feasibility Studies: Preparation, Analysis and Evaluation

Introduction

This course provides professionals a firm basis to determine whether the project has sufficient merit to continue into a more detailed phase. This is achieved by means of a feasibility study. A well-developed feasibility study is an essential foundation to allow project analysis and design activities to commence in a focused manner. It either refines a business case by examining the range of possible options and potential issues or forms a basis for its development.

Feasibility studies address issues that could influence the success of a potential project and assess the advantages and disadvantages of each option so they can be ranked. The end product of the study is a clear, concise report which presents the proposed project’s objectives, with conclusions and recommendations for the next phase.

Course Objectives

• Employ individual leadership performance by identifying methods of completing feasibility studies.
• Discover effective project planning for feasibility studies for individuals and teams.
• Examine project management techniques to plan and organize feasibility studies.
• Use stakeholder management to involve stakeholders in feasibility studies.
• Apply useful planning, organization, and people management skills.

Course Outlines

Day 1
Planning a Feasibility Study

• Introductions, course purpose, goals, and objectives.
• What are feasibility studies and why are they important?
• Feasibility studies: definitions, principles, and concepts.
• Identifying where a feasibility study occurs in a project plan.
• Creating and protecting ‘value’.
• Understanding the business need.

Day 2

Considering the Options

• Distinguishing between needs and wants.
• Performing an options analysis.
• Creative thinking and problem-solving.
• Consideration of the risks and opportunities.

Day 3
The Risk Assessment

• The risk management process and application.
• Identifying and assessing the risks of the preferred option.
• Identifying and managing key stakeholders.
• Establishing the cost estimate.
• Contingency determination.

Day 4
The Feasibility Assessment and Evaluation

• Determining the most feasible option.
• Financial analysis techniques.
• Non discounting methods.
• Discounting methods.
• Net Present Value, Internal Rate of Return.

Day 5
Preparing the Report

• Developing the feasibility report.
• Understand the characteristics of proper communication.
• Identifying how interpersonal relationships ensure successful feasibility studies.
• Real case feasibility study review and analysis.
• Summary, key messages, and learning outcomes.