fbpx

Reply: Feasibility study and Project Selection Method

Name
E-mail
Your e-mail address will never be displayed on the site.
Subject
Message

Topic History of : Feasibility study and Project Selection Method

Max. showing the last 6 posts - (Last post first)
14 years 3 months ago #1073

Cornelius Fichtner

Cornelius Fichtner's Avatar

Rupalli,

It depends on the processes used in the performing organization.

In company A the feasibility study can be performed as an initial step before you even begin a project. Here the intention is to determine if the project has any merit. So the feasibility study becomes an input to the project selection criteria.

In company B, however, the feasibility study is the first phase of a project. Here the intention is take the original project idea and figure out which of the many options that we have is the one that would be most successful. The study is used to determine (for instance) the best scope of the project.

Ans lastly in company C, the feasibility study study is treated as a project of it's own. (In my previous job in Switzerland we called this a "Vorprojekt" - a "pre project".) You may be running several such studies simultaneously and then use the results to determine which projects you want to take on.

To my knowledge there really are no best practices in regards to what the exact contents and the specific outputs of a feasibility study should be.
14 years 3 months ago #1063

rupalli thacker

rupalli thacker's Avatar

hello Cornelius

I would be very appreciative if you could shed some light on this question around feasibility study and project selection method..
14 years 3 months ago #1031

rupalli thacker

rupalli thacker's Avatar

Hi Everyone,
I am slightly out of my depth on Feasibility study and project selection. I feel that the Project Selection Methods are a part of Feasibility Study, as in how can you complete a feasibility study without having done the cost benefit analysis.

any thoughts on this would be welcome. Obviously, clarifications from Cornelius are most appreciated! :-)
Thanks much
Rupalli

OSP INTERNATIONAL LLC
OSP INTERNATIONAL LLC
Training for Project Management Professional (PMP)®, PMI Agile Certified Practitioner (PMI-ACP)®, and Certified Associate in Project Management (CAPM)®

Login