FEASIBILITY STUDIES: PREPARATION, ANALYSIS & EVALUATION

TRAINING OVERVIEW

In the realm of business, distinguishing between viable and non-viable ideas is crucial, considering that only one in fifty business concepts achieves commercial success. The "Feasibility Studies: Preparation, Analysis & Evaluation" course offers a strategic approach to evaluating the potential success of various business ventures, spanning from significant projects to the establishment of entirely new businesses. Through a comprehensive exploration of technical, commercial, financial, and organizational aspects, participants will gain the expertise to discern the feasibility of their ideas early on, preventing wastage of resources on non-starters. This course not only acts as a filter for viable projects but also empowers participants to optimize the success and value of worthwhile endeavours by providing in-depth insights into the associated challenges, risks, and opportunities.

TRAINING TOPICS

• The key concepts and benefits of a Feasibility Study
• A step-by-step approach to describing a business idea and assessing its feasibility
• Creating a Feasibility Study report
• Assessing the risks and challenges facing new projects
• Winning support for a new business idea from key stakeholders

By the end of this training course, delegates will be able to

• Appreciate the essential role played by Feasibility Studies
• Confidently apply a methodical approach to conducting Feasibility Analysis
• Assess Technical, Commercial, Organizational and Financial feasibility
• Engage and involve key stakeholders to create ownership for new business ideas
• Create and ‘pitch’ comprehensive and engaging Feasibility Studies to senior stakeholders to enable effective business decisions

TRAINING IS TAILORED TO

This DixonTech training course will benefit anyone who might need to take part in a Feasibility Study, including people responsible for leading or delivering substantial projects, such as the development and launch of new products, new services, new IT systems or large pieces of infrastructure. This training course is suitable for those relatively new to the discipline as well as to more seasoned managers who may need to review Feasibility Studies before helping to make important investment decisions and will also benefit:

• Project Managers
• Project Planners
• Managers responsible for launching new products and services
• Senior operations managers
• People launching new business ventures

TRAINING METHODOLOGY

This comprehensive training program adopts a dynamic and participatory approach to ensure optimal understanding and retention of the content. The methodology combines various proven adult learning techniques, including interactive discussions, case studies, and practical exercises. Participants will actively engage in real-world scenarios, applying theoretical knowledge to practical situations.

The course structure includes a central project scenario that serves as a focal point for learning, allowing participants to develop essential skills in IT project management. Throughout the training, attendees will create diverse work products such as project charters, product backlogs, Software Requirements Specifications (SRS), WBS, Sprint Backlogs, schedules, and risk registers.

By utilizing this interactive and hands-on methodology, participants will not only grasp the principles of IT project management but will also gain practical experience in addressing challenges commonly encountered in real-world projects. This approach aims to enhance critical thinking, problem-solving, and decision-making skills, ensuring participants are well-equipped to apply their knowledge effectively in their professional roles.

DAY ONE:

INTRODUCTION TO FEASIBILITY STUDIES

• What are feasibility studies, and why are they important?
• Feasibility studies: definitions, principles and concepts
• Feasibility Study Components and Process
• Technical Feasibility
• Commercial Feasibility
• Organizational Feasibility – people, competence, and resources

DAY TWO:

FINANCIAL FEASIBILITY

• Financial Feasibility – costs, return on investment
• Cost classification and estimation
• Non-Discounting Methods and Discounting Methods
• Prepare Your Capital Spending Plan
• Prepare Your Cash Flow Forecast
• Required Investment for Your Business

DAY THREE:

PROJECT OPTIONS AND RISK ASSESSMENT

• Project requirements
• Performing an Options Analysis
• Option Generation and Selection
• Risk Management process and application
• Estimating Risk and Quantitative Risk Analysis
• Risk Response Planning

DAY FOUR:

GAINING BUY-IN TO PROJECT PLANNING

• Components of a Feasibility Report
• Developing the Feasibility Report 
• Project Planning
• Critical Path Analysis
• Tips to preparing an impactful Business Plan
• Preparing to pitch your business idea - facing ‘The Dragon’s Den’
• Case studies

DAY FIVE:

PRESENTING A BUSINESS IDEA

• The characteristics of engaging communication
• Multiple Intelligences
• The Learning Cycle
• Lessons Learned and Personal Action Plan
• Pitching a Business Idea
• Simulation and role play