The document discusses aspects of project cycle management and operational programmes as they relate to a feasibility study for sustainable economic development of the Sudurnes region in Iceland. It outlines implications for the feasibility study, including defining criteria, identifying stakeholders, gathering information on potential development projects, examining projects against laws and regulations, and prioritizing projects in line with EU policies. It recommends preparing a "shadow" regional operational programme and establishing working parties to facilitate the process for three key directions: a project on education, training, skills development, research and innovation; a project on the geopark concept; and preparing the shadow operational programme.