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    Chapter 3

    Uploaded by

    Taskia Sarkar
    This document outlines the 8 key steps in conducting a feasibility study: 1) Initiation, 2) Planning, 3) Stakeholder analysis, 4) Defining client needs, 5) Evaluating constraints, 6) Gathering information, 7) Analyzing major aspects including management, technical, social, marketing and financial considerations, and 8) Preparing a feasibility report to present the viability of the proposed project to stakeholders. The goal of a feasibility study is to assess the practicality and likelihood of success of a new project through a rigorous analysis across several dimensions.

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    © All Rights Reserved
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    Chapter 3

    Uploaded by

    Taskia Sarkar
    54 views11 pages
    This document outlines the 8 key steps in conducting a feasibility study: 1) Initiation, 2) Planning, 3) Stakeholder analysis, 4) Defining client needs, 5) Evaluating constraints, 6) Gathering information, 7) Analyzing major aspects including management, technical, social, marketing and financial considerations, and 8) Preparing a feasibility report to present the viability of the proposed project to stakeholders. The goal of a feasibility study is to assess the practicality and likelihood of success of a new project through a rigorous analysis across several dimensions.

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    Chapter-3

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    This document outlines the 8 key steps in conducting a feasibility study: 1) Initiation, 2) Planning, 3) Stakeholder analysis, 4) Defining client needs, 5) Evaluating constraints, 6) Gathering information, 7) Analyzing major aspects including management, technical, social, marketing and financial considerations, and 8) Preparing a feasibility report to present the viability of the proposed project to stakeholders. The goal of a feasibility study is to assess the practicality and likelihood of success of a new project through a rigorous analysis across several dimensions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    54 views11 pages

    Chapter 3

    Uploaded by

    Taskia Sarkar
    This document outlines the 8 key steps in conducting a feasibility study: 1) Initiation, 2) Planning, 3) Stakeholder analysis, 4) Defining client needs, 5) Evaluating constraints, 6) Gathering information, 7) Analyzing major aspects including management, technical, social, marketing and financial considerations, and 8) Preparing a feasibility report to present the viability of the proposed project to stakeholders. The goal of a feasibility study is to assess the practicality and likelihood of success of a new project through a rigorous analysis across several dimensions.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 11

    Chapter 3

    Feasibility Study
     Feasibility Study
    A feasibility study is an assessment of the practicality of
    a proposed project. A feasibility study analyzes the
    viability of a project to determine whether the project is
    likely to be successful or not.
     Steps of Feasibility Study
    1. Feasibility Study Initiation
    The feasibility study should be formalized with the
    following requirements, boundaries and expected outcomes:
    • Objectives of the project
    • Who is responsible
    • Who should be involved
    • Budget for the feasibility study
    • Report submission date
    2. Plan the feasibility study: In this stage, the responsible
    authority and involved personnel will make a plan to
    conduct the feasibility study of the project. They have to
    follow the four stages:

    • Concept: Outline the purpose of the feasibility study


    • Design: Plan how to carry out the study
    • Implementation: Perform the study
    • Submission: Confirm the study has produced the required
    report
    3. Stakeholder analysis:
    • Stakeholders consists of all individuals and organizations
    that are involved in the development process of a society.
    • The four major groups of stakeholders are:
    (a) Target group
    (b) Parent organization
    (c) Project team
    (d) The public
    4. Define the client’s needs:
    • The parent organization may start a project to implement
    a change, make a product, enter a new market or solve
    any other problem.

    • However, the other members of the board of directors


    may have different needs for the proposed project.

    • In this situation, the responsible authority has to reach a


    single point by solving the conflicting issues.
    5. Evaluate constraints:
    • Project constraints can be considered as internal or external
    restrictions that may affect the achievable scope of the project.

    I) Internal project constraints:


    • Can the product be made?
    • Does the company have the technology?

    ii) External constraints: Imposed by the parties outside the company.


    • National and international laws and regulations
    • Environmental issues
    • Market and competition
    • Political and cultural issues etc.
    6. Gather information:
    • In this stage, the responsible authority collects latest
    information on the project’s technical and market issues.
    • Information is a prerequisite for effective problem
    solving and decision making. Information may be found
    in:
    • Books and journals
    • Reports
    • Sales and marketing reports
    • Market research
    • Internet & stakeholders etc.
    7. Analyze the major aspects to be studied:

    i) Management aspect: It involves organizational structure, the


    approaches to employee management.

    ii) Technical aspect: Techniques and technologies used in the project,


    their impact on productivity and maintaining the environment.

    iii) Social Aspect: The social contribution of the project in terms of:
    • employment generation
    • encouraging entrepreneurship
    • quality and not harmful
    • positive impact on economy etc.

    iv) Marketing Aspect: How successful would be the product or


    service made by the project in terms of its,
    • product or service features
    • price setting
    • promotional effort etc.
    • distribution

    v) Financial Aspect: The business project’s viability


    mostly depends on its financial success. The financial
    analysis of a project is usually made by using some
    quantitative techniques like: NPV, IRR, BCR, POP etc.
    8. Preparing feasibility report:
    After gathering and analyzing the major information, a
    report has to be prepared to show the feasibility of the
    project to the concerned authority or parties. In case of
    writing that report some points should keep in mind:

    • The report should be as much detailed as to understand


    by all the concerned party
    • The report should include the major area of feasibility
    study
    • The report should avoid complexity and conclusion

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