The document discusses the importance of conducting a feasibility study to determine the likelihood of success for an innovation project, which requires analyzing various dimensions such as legal, technical, economic, financial, operational, and market factors. A feasibility study helps identify whether a project is achievable based on available resources and circumstances. The document provides definitions and outlines the process, analysis, and key considerations for assessing the feasibility of an innovation project.

1. INNOVATION PROJECT FEASIBILITY
INTRODUCTION
Dr Xavier PARISOT
08/01/2022

2. Dr Xavier PARISOT
MBI Program Director
Assistant Professor
Knowledge and Innovation Management Strategist
xavier.p@bu.ac.th
Teaching Topics
Knowledge Management
Innovation Management
Entrepreneurship
Strategy (Strategic Management;
Biotechnology & Agribusiness Strategic
Management)
Organizational Theory
Ontology (Conceptualization;
Theorization; Paradigm; Analogical and
Metaphorical Theorization Processes)
Epistemology (Positivism; Constructivism;
Interpretativism; Realism…)
Research Design
History of Sciences
Philosophy of Sciences
Curriculum and Experience
Executive education and Consulting in
Agribusiness & Biotechnology Strategic
Management
PhD in Strategic Management
M.Sc. in Medical and Biological Engineering
M.Sc. in Human Molecular Genetics
Research Activities
Dynamic Capabilities & Open Innovation
implications in the emergence of
Bioindustries Business Ecosystems
Collective Strategies
Impact of knowledge availability & exploitability
on Innovation Logics implementations
Critical Realism
Pedagogical Innovation

3. PhD-KIM INNOVATION PROJECT FEASIBILITY
LEARNING OBJECTIVES
• Define Project Feasibility
• Identify all the feasibility dimensions
• Connect the nature of the project with the context
• Learn how to search for the needed information

4. FEASIBILITY
DEFINITIONS

5. INNOVATION PROJECT FEASIBILITY
What is Feasibility?
Is a Synonym of achievability
Capable of being done with means
at hand and circumstances as they
are
State or degree of being easily or
conveniently done
For an organization, feasibility goes
through planning and organizing
procedures to make sure its project
is effective and will work

6. Project Feasibility
• Feasibility study determines the likelihood of
project success
• It requires that all elements impacted by the
proposed solution be studied
• Many projects fail because unfeasibility and
impossibility in their productive measures
Strategic Planning
Strategic planning is an organizational
management activity that is used to set
priorities, focus energy and resources,
strengthen operations, ensure that employees
and other stakeholders are working toward
common goals, establish agreement around
intended outcomes/results, and assess and
adjust the organization’s direction in response
to a changing environment.
INNOVATION PROJECT FEASIBILITY
What is Project Feasibility?

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INNOVATION PROJECT FEASIBILITY
What is Project Feasibility?
To knows before hand whether there exists a sizeable market for the proposed
product/service, what would be the investment requirements and where to get
the funding from, whether and wherefrom the necessary technical know-how to
convert the idea into a tangible product may be available
Aspects has to be looked are
- Investment outlay and cost of project
- Means of financing
- Projected profitability
- Break- even point
- Cash flows of the project
- Investment worthiness judged in terms of various criteria of
merit
- Projected financial position

8. INNOVATION PROJECT FEASIBILITY
Feasibility Analysis
Perceived &
Real Needs
List of Potential
Ongoing Projects
Current
Organizational
Environment
Existing &
Available
Resources
Evaluation
Criteria
Project
Selection
Decision
Decision Outcome
- Accept / Reject Project
- Delay Project
- Refocus Project
- End-user Development
- Proof of Concept / MVP

9. INNOVATION PROJECT FEASIBILITY
Feasibility Process
1 – Plan the project
• Planning implies to determine what should be made,
the design, inputs and post prospects
• Formulation of a program for a definite course of
action
• Process of drawing layouts for some project or
enterprise
2 – Analyze the feasibility
Analyze the possibility of the project for completion.
Will it be successful?

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INNOVATION PROJECT FEASIBILITY
Requirements for setting up new business enterprises
Conduct a feasibility analysis of the
proposed business ideas in regard to:
- Legalities
- Technical viability
- Scheduling
- Economic: Costs / Benefits Analysis
/ Financial Analysis
- Operational feasibility
Funding, Business Plan, Marketability &
Ecology also constitute key factors of the
project feasibility
Basic startup problems & points of
vulnerability are also critical

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INNOVATION PROJECT FEASIBILITY
Legal & Administrative Analysis
- Legal status /form of
organization best adapted to
the business model
- Business / Ecosystem
Structure
- Rules & Regulations
- Procedures for
Implementation & Registration
- Clearances and Approvals
- Intellectual Property
Management
- HR
- Cash Flow Management
- etc.

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INNOVATION PROJECT FEASIBILITY
Technical Analysis
The issues involved in the assessment of technical analysis of the
proposed project may be classified into those pertaining to inputs,
throughputs and outputs.
- Input Analysis
- Throughput Analysis
- Output Analysis

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INNOVATION PROJECT FEASIBILITY
Business Model connects Technical & Economic Dimensions

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INNOVATION PROJECT FEASIBILITY
Economic & Financial Analysis
Economic Analysis
Economics is the study of costs- and- benefits
- Cost-benefit analysis goes into financial
calculations for profitability analysis
- Private cost benefit analysis & social- cost-
benefit analysis
Financial Analysis
Will the project be Financially viable in the
sense of being able to meet the burden of
servicing debt and whether the proposed
project will satisfy the return expectations of
those who provide the capital
Aspects has to be looked are:
- Investment outlay and cost of project
- Means of financing
- Projected profitability
- Break- even point
- Cash flows of the project
- Investment worthiness judged in terms of
various criteria of merit
- Projected financial position

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INNOVATION PROJECT FEASIBILITY
Operational Feasibility
Source: Gou, G., Zhang, X., & Yan, Y. (2018). Research on Operation Analysis and Evaluation Method of Ergonomics for
Virtual Assembly. In MATEC Web of Conferences (Vol. 214, p. 04003). EDP Sciences.

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INNOVATION PROJECT FEASIBILITY
Business Model & Plan
Business Model & Plan
The business plan is a written document that serves as a road map in the
entrepreneurs journey from start-up to project implementation
- It is based on a business model
- It describes all the relevant elements involved in starting a new business enterprise
- It is often an integration of functional plans such as marketing, finance,
manufacturing and human resources
Content of a good Business Plan
- Focused on target audience
- Clear Business strategy
- Comprehensive assessment of Competition
- Be realistic
- Involvement of people for creating the business plan
- factual and brief

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INNOVATION PROJECT FEASIBILITY
Basic Start-up Problems
- Selection of the Industry
- Product Selection
- Choice of Site
- Form of Organization
- Problem of Construction
- Supply of Raw Materials
- Financing the Unit
- Recruitment and Training of Staff
- Trial Run
- Marketing
- Gestation Period
Source: https://masschallenge.org/article/important-startup-roles