Feasibility Study TemplatePurposeUse the feasibility study template to conduct an objective and rational analysis of thestrengths and weaknesses of a proposed project.This feasibility study template will help you evaluate to the following areas of feasibility: Technical Economic Legal Operational SchedulingHow to Use this TemplateComplete the following document with your project management team. Evaluate thefeasibility of the proposed project based on cost required and value to be attained.
Title Page Feasibility Study [Project Name] Company Name Street Address City, State, Zip Code Date
Table of Contents Page 1. General Information 4 1.1 Purpose 1.2 Scope 1.3 Overview 1.4 Assumptions & Constraints 1.5 Approach 1.6 Evaluation Criteria 1.7 References 1.8 Points of Contact 2. Considerations 6 2.1 Objectives 2.2 Time & Resource Costs 2.3 Areas of Feasibility 3. Recommendations 9 3.1 Recommendation 3.2 Approval
1. General Information1.1 PurposeDescribe the purpose of the feasibility study and provide a detailed description what theorganization is considering. Be sure to provide any relevant background information in thissection. It is important that this description captures the most important aspects of theproposed project as well as how it may benefit internal and external stakeholders.1.2 ScopeDescribe the scope of the feasibility study as it relates to the project.1.3 OverviewProvide a brief overview of the proposed project, include the following: Responsible Organization Name of Project Project Code Project Category Operational Status o Operational o Under development o Undergoing a major modification Project environment or special conditions
1.4 Assumptions and ConstraintsIdentify any assumptions and constraints. A few examples might include: Availability of information and resources Operational life of the proposed project Period of time for comparison of system alternatives Financial constraints Environmental constraints1.5 ApproachDescribe the method or strategy employed (e.g., survey, weighting, modeling,benchmarking, and simulation) to evaluate the proposed project.1.6 Evaluation CriteriaIdentify the criteria applicable to the development process that will be used to determinethe most attractive option. Such criteria typically include cost, priority, development time,ease of use, or any combination.1.7 ReferencesProvide a list of the references that were used in preparation of this document.
1.8 Points of ContactUsing the chart below, provide a list of organizational contacts that may be needed by thedocument user for informational and troubleshooting purposes.Name Title Department Contact InformationJim Beam Project Manager Marketing email@example.com 1-888-888-8888 X101Jessica Watson Director of Marketing firstname.lastname@example.org Marketing 1-888-888-8888 X102Tim Smith Director of Sales Sales email@example.com 1-888-888-8888 X1032. Considerations2.1 ObjectivesAnalyze and document the performance objectives of the proposed project. A fewexamples might include reduced resources and equipment costs, increased productivity,automation and compliance with regulations.2.2 Time and Resource CostsProvide realistic estimates for both time and resource costs, including the time and fundingrequired for all activities of the lifecycle, from initiation through close. When makingestimates, remember to take current workload into account as well as absences, lead timeand staff training.
2.3 Areas of FeasibilityFor each of the areas below, state the reasoning that supports the recommendation of theproposed system over the alternative projects. Technical o Explain any technical considerations the organization must make with regards to the project and answer whether or not the project is both technically and legally feasible assuming moderate cost. Economic o Financial projections are one key aspect of new project selection criteria. Provide a description of the financial projections the new initiative is expected to yield versus additional costs. This section should also provide the assumptions on which the illustrated financial projections are based. A few financial projects that you might want to consider include: Net present value (NPV) Cost-benefit calculations Balance sheets Legal Requirements and Tax Obligations o Determine if the proposed project conflicts with legal requirements and tax obligations.
Operational o Evaluate how well a proposed project solves the problems, and takes advantage of the opportunities identified during scope definition and how it satisfies the requirements identified in the requirements analysis phase of system development. Resources o With many projects there may be a need for additional staffing or for an organization to restructure in order to accommodate the change. These are important considerations as they may result in increased costs or require an organization to change its practices and processes. Marketing o This section is required if the project involves the creation of a new product or service. Review our Product Marketing Plan Methodology to provide a high level description of how the organization will market its product or service. Market Research o Analyze the existing marketplace for the products and/or services the organization is considering. Useful templates include: Marketing Segmentation and Analysis Tool Customer Profile Template
Scheduling o This section is not intended to include a detailed schedule as this would be developed during project planning should this initiative be approved. This section may include some targeted milestones and timeframes for completion as a guideline only. o Upon approval of this project use our Project Management Template to create a project schedule that lists individual tasks, assigns ownership and outlines start/end dates.3. Recommendations3.1 RecommendationThis section should summarize the findings of the feasibility study and explain why thiscourse of action is or is not recommended.3.2 Approval___________________________________ _______________________________ Project Sponsor Signature Date___________________________________ _______________________________ Project Manager Signature Date