This course provides professionals with a firm basis to determine whether the project has sufficient merit to continue into a more detailed phase. This is achieved using 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 options and potential issues or forms a basis for its development.
Feasibility studies address issues that could influence a potential project’s success and assess each option’s advantages and disadvantages 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 organise feasibility studies.
- Use stakeholder management to involve stakeholders in feasibility studies
- Apply functional planning, organisation 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
- Honest case feasibility study review and analysis
- Summary, key messages and learning outcomes
