Introduction:
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.
The feasibility study helps the organizations to understand if the ideas or projects being considered for investment are worth investing time, money, energy, and effort. A well-developed feasibility study lays the foundation for project analysis and design activities in a focused manner.
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.
This course on Feasibility will include the business skills necessary for conducting a feasibility study. This will also uncover the strengths and challenges your company might face at any stage of the business or project timely, and thus, ensure the success of your organization’s blueprint.
Course Objectives:
At the end of this Feasibility Studies – Evaluation, Preparation and Analysis Course, participants will be able to:
- Understand the importance of a feasibility study
- Set up and analyze feasibility studies.
- Compare feasibility study to business plan
- Understand the elements of the feasibility study
- Understand the types of feasibility studies conducted
- Understand the financial model’s feasibility study
- Develop and create a report for a feasibility study
- Importance of interpersonal relationships in conducting a feasibility study
- Identify important theories and effectively explore the various assumptions.
- Present thoughts in a simple, effective, clear, and objective manner.
- establish the feasibility study financial model using Microsoft Excel.
- Run models and sensitivity analysis to improve plans and projections.
- Analyze someone else’s feasibility study and find its advantages and shortcomings.
Who Should Attend?
This Feasibility Studies – Evaluation, Preparation and Analysis Course is suitable for a wide range of management professionals but will greatly benefit:
- Those who desire to learn practical project management techniques of a feasibility study that will assist them in completing work and projects
- Those who may also be a in position where they are required to review, analyze, and make recommendations to Senior Management on the quality of a previously developed feasibility study
Course Outlines:
Planning a Feasibility Study
- Introductions, course purpose, goals, and objectives
- What are the 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
Considering the Options
- Distinguishing between needs and wants
- Performing an options analysis
- Creative thinking and problem-solving
- Consideration of the risks and opportunities
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
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
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