Jaleel .PMP, Associate Director| MetricStreamBangalore, India
It depends how business case and feasibility is looked at. I'm from IT and this what happens usually. There are regular demos to customer/s on how the software works, how user interacts with system, what it provides etc. During demos customer/s come back with a feedback like "This is good, but ...can we have few other features like...can we have reports that give more details of...etc. Now, here the feasibility check is done. Is it technically feasible, can it be a generic feature for all customers, is it feasible with in the time we have in releasing the software, is it feasible with in the budget we have etc. Saving Changes...
Khai Ng.IT PMO | IT Project Manager| TTGROUPHanoi, Viet Nam
PMBOK describes Business Case as "A documented economic feasibility study used to.... "
I prefer the way of thinking: A Business Case (document) is a result of the feasibility study phase.
Some Orgs call the result of feasibility study phase is "Feasibility Study Document". Saving Changes...
Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
Both belongs to business analysis field so you can find all you need in places like the PMI standards. Usually, feasibility report is a deliverable of a feasibility analysis.While you are in the process to understand the business problem and to define probable solutions you make the feasibility study to understand if "the dreams can be truth". After that, when organization have decided about one then the business case is created. Because there is not a standard document some organizations state into the business case more than feasibility study result. The important thing is that the business case is the document which is the basement to decide if the investment deserves to be realized or not. As business analyst you have to create the business case demonstrating to all key stakeholders that "they will be more rich with the solution than without it" where rich does not mean more money only. Saving Changes...
Feasibility Studies and Business Case Analyses are similar in that they provide information to organizational leaders to enable them to make informed decisions to move forward on a new initiative or to proceed with an existing project.
Feasibility Studies typically focus on a variety of factors including political, regulatory, demographic, geographic, socio-economic, etc. in nature. A Feasibility Study usually results in a "GO / NO-GO" recommendation.
A Business Case Analysis (BCA) focuses more on an economic justification of an initiative or project. The BCA should, at minimum, contain a description of the objectives, an analysis of alternatives, the anticipated impact in terms of performance improvement or dollar savings of each alternative, and a cost-benefit assessment. BCA's should be appropriately scaled to the size of the project or potential long term impact. Saving Changes...
A feasibility study is an analysis that takes all of a project's relevant factors into account, including economic, technical, legal, and scheduling considerations to ascertain the likelihood of completing the project successfully.
On the other hand, a business case captures the reasoning for initiating a project or task. It is often presented in a well-structured written document, but may also come in the form of a short verbal agreement or presentation.
In my experience, feasibility studies are very important to initiate a project successfully. They are not the same thing because they have different approaches. Here below you can find articles regarding the differences of both concepts.
https://www.projectcubicle.com/cost-benefit-analysis-example/ https://www.projectcubicle.com/feasibility...ect-management/ Note that a feasibility analysis evaluates the project’s potential for success, therefore, perceived objectivity is an essential factor in the credibility of the study for potential investors. Saving Changes...
Anton OosthuizenSenior Business Analyst / Project Manager| Self EmployedPretoria, Gauteng, South Africa
I notice there are options for feasibility before and after. Maybe let us define what a business case is intended to achieve first. When you submit a business case you do so in order for a choice to be made to support an option i.e. let use a generic example of getting a loan for a new shop. When you submit your business case the bank does not say OK here is the money now go out and see if this is even feasible. Do they?
So it stands to reason that whatever option/s you present in your business case must be backed by feasibility hence a feasibility study is done before you write and submit your business case.
Looking at a project - How do you come to some sort of a conclusion if whatever solution your business case is proposing is even possible? Do we not perform analysis (such as SWOT) to determine if the solution we are asking money for (the reason for a business case) can actually be implemented should the case be approved? How inefficient would it be to submit something, get approval, find out if it can be done, no it can't, subnit new proposal, get approavl, find out if it can be done.........
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1 reply by Sarah Hillas
Sep 08, 2021 6:10 AM
Sarah Hillas
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I think confusion is occurring because people are getting hung up on terminology - people use different terms
I have a 3 phase process:
PHASE I - Project sponsor will tell me what he wants us to look at and that kicks off research
PHASEII: Research into how feasible the project is economically, politically etc and also looks at competitors, suppliers etc
PHASEIII: Sponsor will review phase II work and if he wants to proceed we then create a brief
We call
phase I: Business Case
phase II: Feasibility research study
Phase III: Project brief
Each phase has a gate - cannot process without project sponsor approval. Each phase also has a set timeline
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DR ISAAC OLADAPO OLASEHINDEGENERAL MANAGER, SPECIAL PROJECTS| NIGERIAN COMMUNICATIONS SATELLITE LTD. ABUJA NIGERIAAbuja, Fct, Nigeria
A feasibility study establishes the economic viability of the proposed project whereas a project business case essentially highlights and justifies the business solutions and options for a business problem identified in the proposed project. Saving Changes...
Osahon IdehenLead Analyst, Business Process| NNPC Corporate Strategy and SustainabilityAbuja, Fct, Nigeria
From the PM BOK Guide, Business case reports the economic feasibility of an intended course of action. So, in that case, business case comes after feasibility study. The economic justification in your business case are outputs of the economic feasibility study Saving Changes...
Thomas WalentaGlobal Project Economy ExpertHackenheim, Germany
Business Case and Feasibility Study are two different tools with different purposes.
Business Cases inform the decision to initiate a project, if there is a good amount of uncertainty before that, one or more feasibility studies can reduce the uncertainty, technically and commercially. I have seen many (most) business cases without a previous feasibility study.
Feasibility studies take a deep dive into a solution scenario and reduce uncertainties. This can be useful within a project. The effort and time of such a study should be balanced with the expected benefit. Reducing uncertainty does not mean being 100% sure.
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1 reply by BENJAMIN FRANKLIN JOSEPH XAVIER RAJ
Jun 14, 2021 3:27 AM
BENJAMIN FRANKLIN JOSEPH XAVIER RAJ
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Thank you Thomas. Crystal clear explanation.
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Jennifer McIntyreSenior Project Manager| Oklahoma State Department of HealthOklahoma City, Ok, United States
Our company does a high level business case - using voice of customer and sales estimates before we go on to feasibility (if we cant find any customers that have interest in a product idea, then why bother even finding out if its possible). Once we determine technical feasibility the business case can be given more detail and finalized. Saving Changes...
"Ambition is like a frog sitting on a Venus Flytrap. The flytrap can bite and bite, but it won't bother the frog because it only has little tiny plant teeth. But some other stuff could happen and it could be like ambition."
