This Feasibility Study Template
will help you to conduct feasibility studies in your organization. It takes you through the process of completing a Feasibility Study by defining the business problem / opportunity, the alternative solutions available and the recommended solution for implementation. You can use this Feasibility Study sample to assess the feasibility of any type of solution, within any type of business environment.
You can also use this Feasibility Study template to:
* Research the business problem or opportunity
* Document the business requirements for a solution
* Identify all of the alternative solutions available
* Review each solution to determine its feasibility
* List any risks and issues with each solution
* Choose a preferred solution for implementation
* Document the results in a feasibility report
This Feasibility Study template also includes:
* Dozens of practical, real-life examples
* A diagram describing feasibility assessments
* Procedures which help you to assess feasibility
* Tables to help you write up the feasibility outcome
* A best practice process to achieve the best feasibility results The Feasibility Study template is different, as it includes all of the information needed to perform a feasibility study quickly and easily. It provides you with guidance, to ensure that all of the required elements of a feasibility study are adequately covered. It will also save you time and effort, as the template is pre-filled making it quick and easy to complete.
What is a Feasibility Study?
A Project Feasibility Study is an exercise that involves documenting each of the potential solutions to a particular business problem or opportunity. Feasibility Studies can be undertaken by any type of business, project or team and they are a critical part of the Project Life Cycle. When to use a Feasibility Study?
The purpose of a Feasibility Study is to identify the likelihood of one or more solutions meeting the stated business requirements. In other words, if you are unsure whether your solution will deliver the outcome you want, then a Project Feasibility Study will help gain that clarity. During the Feasibility Study, a variety of 'assessment' methods are undertaken. The outcome of the Feasibility Study is a confirmed solution for implementation Instructions
* 1 Determine if you actually need to conduct a feasibility study. If a company is already doing the same thing that you plan to do and they are making a profit, your business idea is feasible and you don't need a study to prove it. However, if you have a novel idea or a new take on a current business, a feasibility study is warranted. * 2 Create an outline for your feasibility study. You may want to use an example of another company's feasibility report to help you in this stage. In general you want to include a cover sheet, executive summary, table of contents, descriptions of your product or service, definition of the technology used, business model, marketing strategies, critical risk factors, financial projections and a conclusion. * 3 Describe your products and/or services. Include a physical description of the product, how it will be used by customers, how it will be tested for safety and effectiveness, and how it will be upgraded in the future. * 4 Describe the technology that will be used by your company. This may be technology used to produce a product, to allow a product to function or to manage the regular operation of the company. Also include information about your research and development plans and needs to keep your company on the cutting edge of the industry. * 5 Describe your market environment. This will need to include a description of your target market, how the customers will benefit from your products or services, what niche or need your products or...