Sample contents of feasibility study
Once the study is done, a feasibility study report FSR should be developed to summarize the activity and state if the particular project is realistic and practical.
How to write a feasibility study for a small business
It aims to analyze and justify the project in terms of technical feasibility, business viability and cost-effectiveness. Often it is a responsibility of the project manager to control such a process. In practice, it signifies that the sponsor can proceed with deciding on project investment and make necessary assignments to the project manager. Risk Mitigation because it helps with contingency planning and risk treatment strategy development. Report Body Format Because there are many different styles and requirements for formatting the body of feasibility study report, it may be difficult for you to select right format for your report, so I suggest you discuss this issue with your curator or supervisor who should provide you with right styling and format requirements. Content Requirements for Sample Feasibility Report The content of sample feasibility report is formatted and structured according to a range of requirements which may vary from organization to organization. Without such analysis, this may never be discovered. You can use this Feasibility Study sample to assess the feasibility of any type of solution, within any type of business environment. Once the study is done, a feasibility study report FSR should be developed to summarize the activity and state if the particular project is realistic and practical. If approved, it is very important that all parties sign the document which expresses their acceptance and commitment to it; it may be a seemingly small gesture, but signatures carry a lot of weight later on as the project progresses. This step of feasibility study report writing requires you to investigate the solutions and put them against a set of evaluation criteria. In addition to the recommended solution, other alternatives are estimated in order to offer an economic comparison. Meanwhile, there are common suggestions, which are listed below.
For example, what I have just described is essentially the same process we all follow when purchasing an car or a home. It is also at this point where the use of existing structures and commercial alternatives are considered e.
The following definition gives a broader understanding of the document: A Feasibility Study Report FSR is a formally documented output of feasibility study that summarizes results of the analysis and evaluations conducted to review the proposed solution and investigate project alternatives for the purpose of identifying if the project is really feasible, cost-effective and profitable.
As such, the activities for preparing a Feasibility Study are generic in nature and can be applied to any type of project, be it for systems and software development, making an acquisition, or any other project. Staff Training because the report can be used by senior management to identify staffing needs as well as acquire and train necessary specialists.
The Approach represents the recommended solution or course of action to satisfy the requirements.
This page should also be styled appropriately. How you define requirements for software is also substantially different than how you define them for systems. Review that all of the preceding elements are then assembled into a Feasibility Study and a formal review is conducted with all parties involved.
Front Matter To begin with writing a sample feasibility report, first you need to create a title page that provides a descriptive yet concise title, your i.
Components of a feasibility study
The reporting process allows the senior management to get the necessary information required for making key decisions on budgeting and investment planning. Meanwhile, there are common suggestions, which are listed below. Frankly, it is just plain good business to conduct them. Is it also a practical and viable solution? The review serves two purposes: to substantiate the thoroughness and accuracy of the Feasibility Study, and to make a project decision; either approve it, reject it, or ask that it be revised before making a final decision. The report gives a brief description of the project and some background information. The following definition gives a broader understanding of the document: A Feasibility Study Report FSR is a formally documented output of feasibility study that summarizes results of the analysis and evaluations conducted to review the proposed solution and investigate project alternatives for the purpose of identifying if the project is really feasible, cost-effective and profitable.
based on 55 review