Feasibility Study Request
The Project Proposal Template may be used to request funding to conduct a Feasibility Study, which in turn is used to provide an analysis of the objectives, requirements, and concepts of the proposed work, including justification, schedule, and deliverables. Its main purpose it to determine the technical and financial viability of a proposed change as well as to assist in identifying or clarifying activities, cost, time frames and/or requirements (system and/or business). During the analysis, the objectives of the proposed work are defined based on the needs identified.
Depending on the project, the Feasibility Study may be Stage 1 of a large project. The Feasibility Study may also be used to conduct a preliminary part of project where it is unclear how to quantify the resources or if the product/system/process to be implemented needs to be identified before progressing to complete a Project Proposal.
The outcomes of the study must be considered and planned for. This means that the Feasibility Study Report requirements should be kept in mind at all times during the Planning Phase and throughout the life of the study. The output from the Feasibility Study is a report detailing the management methodology used, the evaluation criteria, the study findings and recommendations.
Once the study is completed a Feasibility Study Report is required as the outcome for the work undertaken. If the study recommends continuing with the project idea then a Project Proposal for a new project should be completed and submitted either with the Feasibility Study Report or soon after.
Feasibility Study Report
The Feasibility Study Report template is used to provide information about the outcomes and success of a feasibility study. The report should include details on methodology used, the evaluation criteria, options analyzed with findings and recommendations resulting from the study. Supporting documentation may be included as appendices.
The report recommendations may support proceeding with a project or project stage as a result of the study. In this case the Project Proposal should be prepared. Both documents should be submitted to the governing authorities for approval.