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Project Feadibility studies, Project

Life cycle
PRESENTED BY
A.SAI DEEKSHITH – (20331A0311)
A.HEMANTH – (20331A0306)
What is project feasibility?

 Project feasibility is the study of a project's various elements to determine if it


has the potential for success. Before a project begins, form strategies to
overcome them and ultimately attract investors.
 Managers consider their available resources and financial requirements when
determining a project's feasibility.
 The feasibility of a project becomes clear when a business plans to launch a
new product, expand its location or perform activities that impact the company
and its departments
Why are feasibility studies important?

 A feasibility study presents the pros and cons of a project so managers and stakeholders are aware of the project's
potential problems before its implementation.
 The study may save the company money and time by first confirming that the project is worthwhile and can likely
reach a successful conclusion.
 Feasibility studies answer questions about the availability of resources, the tools teams need to complete the project
and the project's return on investment (ROI).
 Feasibility studies also help project managers and stakeholders: Understand all aspects of the project feasibility Find
potential problems during the project's implementation Determine the viability of the project Define alternative
solutions to obstacles Enhance project success by analyzing data from multiple sources
There are five types of feasibility:

 Technical feasibility: This focuses on the project's technical needs and determines how a company can meet
those needs.
 Economic feasibility: This refers to cost and provides detailed information about project spending, expected
revenue, projected profits and the company's return on investment. It outlines the financial benefits of the
project to determine its worth.
 Legal feasibility: This addresses the legal requirements of the project, such as permits or licenses. The
feasibility study defines legal requirements and confirms whether compliance with legal requirements will
benefit the company overall.
 Operational: Operational aspects of the feasibility study include references to how the organization will adapt
to the project and how the project serves the organization's goals and mission.
 Scheduling: This sets the timeline for the project and expectations for milestones or goals. It addresses time
constraints and strategies to overcome delays.
Tips for determining project feasibility

Get feedback
 Before presenting your feasibility study to decision-makers or stakeholders, ask for feedback from other departments and
team members. Check your budget calculations with the accounting department and confirm sales projections with the
sales department for accuracy and to identify overlooked issues. Ask team members about tools or resources they'll need to
perform their jobs better and determine if there's room in the budget or if there's an alternative solution.
Confirm data quality
 Review your data and its sources to confirm data quality. Ensure your calculations are accurate and provide data that
supports your findings. Consider reexamining documents and statements to help ensure the information is complete. You
might also send surveys or conduct focus groups with interested participants who can provide valuable answers.
Create a contingency plan
 Since not all projects meet feasibility requirements or there may be a future concern, it's a good idea to have a contingency
plan. A contingency plan focuses on how to overcome obstacles to move the project forward or mitigate problems. For
example, a contingency plan might provide solutions to potential delivery delays, such as initiating a second delivery
service.
Project Life Cycle

 Each project has a lifetime and during this lifetime it


passes through different phases, these phases are called
project life cycle.
 Project life cycle is a framework to manage any type of
project, its provide guideline to project managers for
successful completion of projects.
Project Life Cycle

 Typically a Project Lifecycle consists of following 5 Phases :

 1. Initiation
 2. Planning
 3. Execution
 4. Monitoring and control
 5. Closing
1.Initiation Phase

 Project Initiation is the first phase and its very important to meet
successful business needs from a project.
 Project initiation phase determines the project idea, Business
case, Nature ,Goals, Scope, Feasible Study, Risks, Success
Criteria, Stakeholders and Financial Analysis.
2.Planning Phase

 Every project required a detailed plan for its execution and to guide
the project team. The Planning Phase covers methodology, Tasks,
Scheduled, Budget, Resources, Quality, Risks, communication plan.
 Time, Cost and Resources are Main Focused Elements in Project
Planning.
3.Execution Phase

 In Project Execution Phase the Planning is converted into a action


and a project is carried out, deliverables are built according to the
client's or customer's demand.
 Time, Cost, Quality, Risk, Issues Changing and Communications are
Performed as per Planning.
 A Project Manager supervise and manage all the execution activities
and allocate human and other resources as per project requirement.
4.Monitoring and control

 Project Monitoring and Control runs parallel with execution phase.


 During execution each project is continuously Monitored and Controlled.
 The project activates and variables are measured also. while the corrective
actions are taken if required.
5.Closing Phase

 Project Closing is the Final stage of Project Life Cycle.


 In Closing phase:
 1.Project's all activities are Finalized.
 2.Project is evaluated and documented.
 3.Project is officially closed and the resources are returned back to the owners.

 The Results are analyzed and the learnings are summaried for future projects.

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