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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?
In conducting a
feasibility study, there are no established methods. Various methods
can be applied depending
on the project or program whose feasibility is to be studied. Examples of these are as follows:
- Literature research (scientific literature, project reports, etc.): Showing evidence from similarprojects which have already been implemented (demonstration of feasibility) or of contradictions between project goals and existing knowledge (demonstration of non-feasibility)
- Computer-generated simulations
- Interviews or expert surveys
The result of a feasibility study is a report which can incorporate the following subjects (cf. Jenny, 2001):
- Initial situation
- Goals and approaches to solutions
- Profitability analysis
- Risk analysis
- Project organisation
- Overall project planning
- 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
