Feasibility Studies - Evaluation, Preparation and Analysis
Select Other "city & date"
Feasibility Studies - Evaluation, Preparation and Analysis Course
Introduction:
Feasibility studies aim to address factors that can impact the success of a potential project and evaluate the pros and cons of each option to establish a ranking. The outcome of the study is a concise and clear report that outlines the project's objectives, along with conclusions and recommendations for the next phase.
Conducting a feasibility study helps organizations determine the worthiness of investing time, money, energy, and effort into proposed ideas or projects. A well-developed feasibility study serves as a solid foundation for focused project analysis and design activities.
A comprehensive feasibility study is crucial as it refines the business case by examining various options and potential challenges, or it serves as the basis for its development.
This course on feasibility will provide participants with the necessary business skills to conduct a feasibility study. It will help identify the strengths and challenges that your company may encounter at any stage of a business or project, ensuring the successful implementation of your organization's blueprint.
Course Objectives:
At the end of this Feasibility Studies - Evaluation, Preparation and Analysis Course, participants will be able to:
- Understand the importance of feasibility study
- Setup and analyze feasibility studies.
- Compare feasibility study to business plan
- Understand the elements of the feasibility study
- Understand the types of a feasibility study conducted
- Understand the financial model’s feasibility study
- Develop and create a report for a feasibility study
- Importance of interpersonal relationship in conducting a feasibility study
- Identify important theories and effectively explore the various assumptions.
- Present thoughts in a simple, effective, clear and objective manner.
- establish the feasibility study financial model using Microsoft Excel.
- Run models and sensitivity analysis to improve plans and projections.
- Analyze someone else’s feasibility study and find its advantages and shortcomings.
Who Should Attend?
This Feasibility Studies - Evaluation, Preparation and Analysis Course is suitable to a wide range of management professionals but will greatly benefit:
- Those who desire to learn practical project management techniques of a feasibility study that will assist them in completing work and projects
- Those who may also be a in position whereby they are required to review, analyses and make recommendations to Senior Management on the quality of a previously developed feasibility study
Course Outlines:
Planning a Feasibility Study
- Introductions, course purpose, goals and objectives
- What are the feasibility studies and why are they important?
- Feasibility studies: definitions, principles and concepts
- Identifying where a feasibility study occurs in a project plan
- Creating and protecting ‘value’
- Understanding the business need
Considering the Options
- Distinguishing between needs and wants
- Performing an options analysis
- Creative thinking and problem solving
- Consideration of the risks and opportunities
The Risk Assessment
- The risk management process and application
- Identifying and assessing the risks of the preferred option
- Identifying and managing key stakeholders
- Establishing the cost estimate
- Contingency determination
The Feasibility Assessment and Evaluation
- Determining the most feasible option
- Financial analysis techniques
- Non-discounting methods
- Discounting methods
- Net Present Value, Internal Rate of Return
Preparing the Report
- Developing the feasibility report
- Understand the characteristics of proper communication
- Identifying how interpersonal relationships ensure successful feasibility studies
- Real case feasibility study review and analysis
- Summary, key messages and learning outcomes