5.1.4 Factors that determine the feasibility of a digital project Flashcards
Define:
Feasibility Study
Feasibility Study
Analyse whether the project is viable and worth investing money and time into
Fill The Blank:
To be economically Viable a project should provide a …….. - financial (profits or savings) or another business benefit
Feasibility Study
Return
Fill The Blank:
A feasibility study will identify any potential ……………. or …………. and how to mitigate them
Feasibility Study
Problems/Issues, Risks
State:
3 resources project managers will consider when looking at the feasibility of a project
Feasibility Study
- People
- Budget
- Technology
Fill The Blank:
A feasibility study allows a business to look at the wider …………. and how it could affect with other …………… or elements of the business and if so what ………………… need to be consulted to find mitigations
Feasibility Study
Context, Projects, Stakeholders
State:
3 benefits of a feasibility study
Feasibility Study
3 of:
* Allows a cross-section of the business to consider and agree on the project
* It enables the key stakeholders in the project to establish the viability and potential success of the project
* Pre-empts issues and problems, allowing a project team to mitigate them
* Help establish whether a project should be delayed until further resources become available
* Provide risk/return on investment analysis
State:
3 drawbacks of a feasibility study
Feasibility Study
3 of:
* May be time consuming and be insufficient time or expertise to carry out
* Commonly only a documented (written) analysis and may not identify problems that happen in real-time during the project
* Can be expensive; depending on the industry concerning
Explain:
2 potential risks to a project
Risks, Constraints and Dependencies
2 of:
* Failing to plan - very important projects are carefully planned and minimise disruption to business functionality
* Changes to hardware or software can affect progress if happening during the project - prevent new system from functioning as intended
* Organisation merges with another organisation part way through project and merger impacts project requirements
* Key project team member or team members leave organisation part way through the project
Define:
Constraints
Risks, Constraints and Dependencies
Limiting factors that can impact on the overall success and quality of the project
State:
3 examples of constraints
Risks, Constraints and Dependencies
3 of:
* Time
* Cost
* Scope
* Quality
Fill The Blank:
Any changes to either …….., cost or ………… will impact the …………… of the outcome of the project and any changes to the expected ……………….. can have an impact on the other 3 constraints
Risks, Constraints and Dependencies
Time/Scope, Time/Scope, Quality, Quality
State:
3 responsibilities of a project manager
Risks, Constraints and Dependencies
3 of:
* Set sequence of tasks within the project plan
* Calculate time each task will take (Usually called critical path)
* Identify resources required to complete each task
* Identify any potential scheduling problems
* Monitor and manage the tasks
* Identify and action any opportunities to accelerate schedule of the project’s task
Explain:
Briefly, finish to start dependency
Risks, Constraints and Dependencies
First task (predecessor) must be completed before the next task can start (successor)
Explain:
Briefly, start to start dependency
Risks, Constraints and Dependencies
A successor cannot start until the predecessor has been started - most common when parallel tasks are desired
Explain:
Briefly, finish to finish dependency
Risks, Constraints and Dependencies
Tasks can run in parallel but a successor task cannot complete until its predecessor task has completed
