Feasibility study

A variety of questions can be the focus of feasibility studies (cf. Projekt Magazin, 2005):

• Is the project technically feasible?
• Is it financially feasible?
• Is it feasible within a specified time frame?
• What risks does the project involve?

When conducting a feasibility study, there are no pre-set methods. Depending on the project or program whose feasibility is to be studied, various methods can be applied. Examples of these are as follows:

• Literature research (scientific literature, project reports, etc.): Showing evidence of similar projects which have already been implemented (demonstration of feasibility) or of contradictions between project goals and existing knowledge (demonstration of non-feasibility)
• Computer-generated simulations
• Expert surveys or interviews

The result of a feasibility study is a report which can comprise the following issues (cf. Jenny, 2001):

1. Initial situation
2. Goals and approaches to solutions
3. Profitability analysis
4. Risk analysis
5. Project organisation
6. Overall project planning
7. Subdividing into modular projects

Guidelines on how to conduct a feasibility study can be downloaded as a pdf file at the following site:
http://www.oleimeulen.info/content/references.htm (under 'Machbarkeitsstudien', in German)

Examples

To give you an idea of how you can design your own feasibility study we have included an example of a feasibility study from the e-learning domain:  Feasibility - Example.