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

By the end of this course, participants will be able to:

• 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

This course is suitable to 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 whereby they are required to review, analyse and make recommendations to Senior Management on the quality of a previously developed feasibility study

The course enhances learning with practical activities so participants can develop knowledge and skills to either develop or assess and analyse a feasibility study. The course includes a presentation of material for theory, knowledge and delegate interaction, discussion on the material, exercises to apply planning processes, interaction using the experiences of the instructor and group’s colleagues and practice using case studies on key concepts.

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