Feasibility Studies & Project Development
A feasibility study is a practicality assessment for a proposed plan, product, project management tool, or new execution method.
The importance of a feasibility study is to establish whether or not a company, team, or organization will deliver on its promises in a satisfactory manner and a reasonable period of time.
This is one of the most important project management techniques you’ll want to learn from AFRITAM to save your organization’s time, money, and lots of headaches.
The final feasibility report is a part of the fifth step of your project management plan and is presented after you’ve made your initial business case to your stakeholders.
However, at FRITAM, we shall help your organisation to conduct a feasibility study through;
1. preliminary analysis
2. Creating a project scope outline
3. Performing your market research
4. Calculate the financial cost
5. Review your research and present your findings to the project stakeholders
It is necessary to conduct a feasibility study, using models, to reduce the risk of failure. A feasibility study of the business model should be centered on the organization’s value creation processes. We shall help you conduct the feasibility study within the following categories;
1. Technical feasibility
· Technical: Hardware and software
· Existing or new technology
· Site analysis
2. Financial feasibility
· Initial investment
· Resources to procure capital: Banks, investors, venture capitalists
· Return on investment
3. Market feasibility
· Type of industry
· Prevailing market
· Future market growth
· Competitors and potential customers
· Projection of sales
4. Organizational feasibility
· The organizational structure of the business
· Legal structure of the business or the specific project
Management team’s competency, professional skills, and experience