Will it Work? Carrying Out Effective Feasibility Studies

We may have good ideas about a new business venture, a new product, or making a strategic change. Often these ideas are not pursued, as they are deemed too risky. Alternatively, they may be implemented but fail as result of insufficient investigation and planning.

Feasibility studies avoid both of these scenarios by allowing ideas to be developed and tested. They enable options to be explored and aspects, such as costs, timeframes and risks to be determined and quantified. A well-structured feasibility study report makes this information readily accessible and enables decisions on whether the project should be developed or not.

If the decision is made to go ahead, the 'trial run' undertaken during the feasibility study provides an excellent basis for planning the project and enables this to be undertaken more efficiently.

This course will not only encourage you to have brilliant ideas but also to get them implemented in a structured, planned and effective way.  You will learn how to carry out feasibility studies that provide the following benefits:

• Provides valuable information for a “go/no-go” decision.

• Confirms the rationale for project.

• Informs how the project should be developed.

• Enhances the success rate of projects by evaluating options and selecting optimum ones.

• Identifies risks so that these are addressed.

• Establishes project constraints such as technical, technology, budget, environment, regulation and establishes whether the project can be delivered within these.

• The 'trial run' enables projects to be carried out with greater focus and efficiency.