SHS Lesson on types of study

1. Feasibility
Study
https://www.indeed.com/career-advice/career-development/feasibility-studies

2. Vocabulary
Feasibility- possibility, capability or likelihood
of something being done or accomplished .
Technical- relating to technique. having special and usually
practical knowledge especially of a mechanical or scientific subject

3. Vocabulary
Feasibility- possibility, capability or likelihood
of something being done or accomplished .
Technical- relating to technique. having special and usually
practical knowledge especially of a mechanical or scientific subject

4. What is a Feasibility Study?
A feasibility study may help determine many
factors, such as cost-effectiveness and whether
the proposed plan would benefit your company
in the future.

5. •A feasibility study is an assessment tool that helps
determine if a proposed product, service or business will
be successful.
•The study considers many factors, including technical,
economic and legal, to evaluate the proposal.
•There are several types of feasibility studies to consider
based on the project.
•The study provides useful information for the next steps
after the study.

6. Feasibility studies also help companies with new business
development, including determining how it will operate, potential
obstacles, competition, market analysis and the amount and
source of financing needed to grow the business. They can help
develop marketing strategies to convince investors and banks
that investing in a particular project or business is a wise choice.
Once the feasibility study is complete, stakeholders should be
able to fully understand all aspects of the project and can then
determine whether they want to move forward with the
project.

7. Who conducts a feasibility study?
A company’s management or directors may conduct a
feasibility study or delegate the process to senior managers if
they don’t have the in-depth knowledge or the time to complete
the study themselves.

8. Importance of feasibility studies
•Identifies valid reasons to advance or veto a project idea
• Improves the focus of the project team
• Provides useful information for the next steps after the
study
• Narrows potential business alternatives
• Evaluates current and needed resources and technology
• Enhances the success or failure rate of the project by
assessing all variables
• Estimates the return on investment

9. Types of feasibility studies
There are numerous feasibility studies a consultant can
perform before a company decides on a project, and
multiple study types may be combined to cover all
aspects of the project from start, progress, completion
and delivery.

10. 1. Technical feasibility
Technical feasibility includes checking for
accessibility to technical resources and applications
within the organization. If the resources already exist,
you must then determine if the technical team can
customize the technology into new working systems
for the project. Not only do you need the correct
technical resources, but the equipment also needs
to be evaluated to ensure it has the proper
hardware and software for the proposed plan.

11. 2. Economic feasibility
Economic feasibility allows the company to determine
the cost and benefits analyses, which helps provide
decision-makers with a list of potential economic
benefits to the organization. They need to know the total
cost, including accidental expenses, so that during the
project, they may be able to anticipate any potential
unforeseen monetary challenges.

12. 3. Operational feasibility
Operational feasibility assesses how well a
proposed plan fits within the existing business
environment, and if developed, whether
current purchasers will use it. Some variables
that affect the outcome of this analysis are
whether management support, how buyers
feel about the current system in place and if
the proposed system will benefit the
organization.

13. 4. Legal feasibility
Before beginning a project, legal feasibility
checks to ensure that all parts of the proposed
project adhere to legal rules and requirements
in that specific geographic area. Zoning laws,
social media laws and many others need to be
examined because the law must permit all
aspects of the project for an organization to
get consent to begin.

14. 5. Schedule feasibility
The final, but very important feasibility study is
that of the schedule check. It estimates how
much time a team needs to complete the
project. All invested groups should recognize
and agree that the project is to be finished
within an agreed-upon timeframe for the
proposed plan to be successful.

15. Elements
of a
Feasibility Study

16. 1. Project scope
Creating a project scope is part of the planning
process and defines all aspects of the
proposed plan. It should address all parts of the
business that could be impacted when the
plan goes into motion. In addition, it's important
to address the potential outcome of the project
in the product scope. This includes all work that
needs to get completed to deliver the project
such as project goals, tasks, costs, deliverables
and deadlines.

17. 2. Current analysis
The purpose of the current analysis is to define and
understand the current methods being used in the
organization. With this analysis, you can identify the
benefits and disadvantages of the current product
or system. This information is used to determine
whether it's possible to use certain components of
the current product when creating the prospective
product or potentially save money when producing
the new product or system.

18. 3. Requirements
The requirements of the potential project depend
on the project's overall purpose. Two components
to identify are the technical and capital
requirements of the venture. Investors should
possess information about technology obligations
as well as how much money to invest overall so
they can identify the proper approach to obtain
the requirements.

19. 4. Approach
After analyzing the requirements, a consultant
typically recommends a course of action to satisfy
the requirements that were established in the
previous step. Sometimes, using existing systems
already in place is more beneficial than choosing
a brand new system, which can be more costly.
The consultant then weighs all options and
recommends the most beneficial solution to the
organization before proceeding.

20. 5. Evaluation
After choosing an approach, a consultant
usually evaluates the cost-effectiveness of the
selected approach. A consultant may analyze
and estimate the total projected cost, as well as
estimate alternative approaches. Finally, an
evaluation and cost summary are prepared,
including items such as cost and benefit analysis
as well as return on investment (ROI).

21. 6. Review
A consultant collects all the above elements into a
feasibility study and conducts a formal review. The
review shows the accuracy of the overall study
and helps make a project decision. At this point in
the study, the project gets approved, revised or
rejected. If approved, all parties then sign a
document stating their agreement to the project.

22. Key components of a feasibility study
A feasibility study gathers essential company information and encourages
investors, company officials or other company employees to support a
project. Here are some key components of a feasibility study to consider
including in your own:
•Title page
•Table of contents
•Executive summary
•Market feasibility
•Technical feasibility
•Financial feasibility
•Organizational feasibility
•Conclusion
•Appendix and reference pages

23. How to write a feasibility study
Here is a step-by-step guide to help you write your
own feasibility study:
1. Describe the project.
2. Outline the potential solutions resulting from the
project.
3. List the criteria for evaluating these solutions.
4. State which solution is most feasible for the
project.
5. Make a conclusion statement.

25. Thank
You
Borcelle University
Presented by Juliana Silva

26. 1.An executive is writing a feasibility report and needs to include information
about the history of the company and specific regulations that affect their
work. Which section of the report should include this information?
A.Conclusion B. Background C. Evaluation D. Recommendation
2. Why is the requirements section of a feasibility report often referred to the
criteria section?
A. Because it introduces how the writer determined a need for a feasibility
report.
B. Because it describes the writer's conclusions regarding the proposed
solution.
C. Because it describes the background of the situation requiring a feasibility
report.
D. Because it describes how the writer evaluates the feasibility of the proposed solution

27. 3. Which type of feasibility study assesses whether a proposed project is
technically possible and achievable?
A) Economic Feasibility Study B) Operational Feasibility Study
C) Technical Feasibility Study D) Legal Feasibility Study
4. Which type of feasibility study evaluates the financial viability and
profitability of a project?
A) Economic Feasibility Study B) Schedule Feasibility Study
C) Market Feasibility Study D) Legal Feasibility Study
5. Which type of feasibility study examines whether a project aligns with the
organization's strategic objectives and goals?
A) Economic Feasibility Study B) Schedule Feasibility Study
C) Strategic Feasibility Study D) Legal Feasibility