Every project does need to establish feasibility, but that does not always require a "study".
A desired product may involve well established technology and methods, or be beyond the current art of the possible. If it is something that has been done many times before, then feasibility may not even be in question. Other concepts may be shown to defy the fundamental laws of physics after a simple analysis, or determine that a more detailed study is required to evaluate feasibility.
If you can quickly determine that a project concept is either clearly impossible or routine, then a detailed study is not required. If that 1st order analysis is inconclusive, then you should "sharpen your pencils". Further more detailed analysis is required to determine whether a positive outcome is even possible. Saving Changes...
Feasibility analysis is adequate prior to starting a project since it helps to determine if the business idea will succeed or fail, which is fundamental, due the purpose of a project is to deliver value.
Feasibility analysis includes various aspects, such as economic, legal, environmental, or technical considerations. Saving Changes...
It comes down to the degree of uncertainty regarding the expected benefits and the approach to deliver the scope of the project. If there isn't too much concern about either, a feasibility study is not needed.
More or less, in the construction industry, we do a feasibility / viability study for every project.
Hi rami,
i do in construction industry also
what kind feasibility/ viability study that you required before executed project ...
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1 reply by Rami Kaibni
Aug 22, 2022 10:32 PM
Rami Kaibni
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It depends on the type of project. For example, for healthcare Seniors Housing, we do feasibility study to see the market needs, health authorities requirements and so on. Other times we do land viability studies.
It comes down to the degree of uncertainty regarding the expected benefits and the approach to deliver the scope of the project. If there isn't too much concern about either, a feasibility study is not needed.
Kiron
well noted kiron
for degree uncertainty Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
Aug 22, 2022 9:49 PM
Replying to Andrianus Toar Pradaya Lonteng
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Hi rami,
i do in construction industry also
what kind feasibility/ viability study that you required before executed project ...
It depends on the type of project. For example, for healthcare Seniors Housing, we do feasibility study to see the market needs, health authorities requirements and so on. Other times we do land viability studies. Saving Changes...
Sabarish KrishnanManager (Design)| Larsen &Toubro Ltd,IndiaChennai, Tamil Nadu, India
Feasibility of a project is to be considered to check if the project can be executed for the given scope, cost & time. Let’s say you expect uncertainty or foresee execution/design issues before initiation phase or while developing project charter, there would be a need to check its feasibility. This in-turn would give all stakeholders & esp. Project manager a sense of confidence & emotional stability to execute the given project.
For those project, which is repetitive in nature, feasibility study or check can be omitted since you are already having proven results/check sheets.
In my experience, I have seen a project wherein despite doing feasibility check – We have ended up in uncertainty situations, thereby facing schedule/scope issues.
Hope this helps ! Saving Changes...
Thomas WalentaGlobal Project Economy ExpertHackenheim, Germany
Feasibility should be an ongoing concern of the PM. A study can help to get a baseline and a decision to go forward, including funding, but things will change. Often just a list of easy to evaluate criteria serves as a filter in a portfolio selection process.
Certain types of projects do not have feasibility studies, like basic research projects, explorations of new territory, experiments. Others create such studies to gain support and then neglect them, like most startups or most mega-projects. Saving Changes...
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