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Certified Feasibility Studies Consultant (CFSC)

FEASIBILITY STUDY

A feasibility study typically is the response to some client-identified problem or opportunity. It reveals what is required to build a solid business case, allowing management to make an informed decision about funding or canceling the project. "To be, or not to be?" is the primary question a feasibility study answers.
This primary question can be decomposed in three supporting questions: What is this project all about? Should we do this project? How should we go about this project?

What is This Feasibility All About?

One primary reason for project restarts, or outright failure, is the lack of a project mission, which at this early point means a careful analysis of the problems or opportunities and their possible impact on the organization. Team members, customers, and other stakeholders need a good understanding of the project"s fundamental components - goals, objectives,scope,problem statement, constraints, and vision.

A good test of whether or not a project is understood is to walk around and ask various participants what they think it"s all about. A crisp, business-oriented, non-technical answer usually means the project"s groundwork is well established. The answer could be what we refer to as a project objective statement: a short, concise, high-level summary of the project

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