Feasibility Studies - Preparation, Analysis and Evaluation Course

Intorduction

This course provides professionals a firm basis to determine whether the project has sufficient merit to continue into 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.

This course will feature:

• What is a feasibility study
• When is a feasibility study used
• How to develop a feasibility study
• How to critically analyse a feasibility study
• Application of project management skills and techniques

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

Content

Day One

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 Two

Considering the Options

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

 Day Three

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 Four

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 Five

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