Week – 3 The Feasibility Study in Project Management

Question 1

with the rise of project management comes the need for a

Answer 1

feasibility study.

Question 2

5 Types of Feasibility Study

Answer 2

Technical Feasibility
Economic Feasibility
Legal Feasibility
Operational Feasibility
Scheduling Feasibility

Question 3

evaluates the project’s potential for success; therefore, perceived objectivity is an essential factor in the credibility of the study for potential investors and lending institutions.

Answer 3

A feasibility analysis

Question 4

This assessment focuses on the technical resources available to the organization.

Answer 4

Technical Feasibility

Question 5

It helps organizations determine whether the technical resources meet capacity and whether the technical team is capable of converting the ideas into working systems.

Answer 5

Technical Feasibility

Question 6

also involves the evaluation of the hardware, software, and other technical requirements of the proposed system.

Answer 6

Technical Feasibility

Question 7

this assessment typically involves a cost/ benefits analysis of the project, helping organizations determine the viability, cost, and benefits associated with a project before financial resources are allocated

Answer 7

Economic Feasibility

Question 8

It also serves as an independent project assessment and enhances project credibility—helping decision-makers determine the positive economic benefits to the organization that the proposed project will provide.

Answer 8

Economic Feasibility

Question 9

This assessment investigates whether any aspect of the proposed project conflicts with legal requirements like zoning laws, data protection acts or social media laws.

Answer 9

Legal Feasibility

Question 10

This assessment involves undertaking a study to analyze and determine whether—and how well—the organization’s needs can be met by completing the project.

Answer 10

Operational Feasibility

Question 11

also examine how a project plan satisfies the requirements identified in the requirements analysis phase of system development.

Answer 11

Operational Feasibility

Question 12

This assessment is the most important for project success; after all, a project will fail if not completed on time.

Answer 12

Scheduling Feasibility

Question 13

an organization estimates how much time the project will take to complete.

Answer 13

Scheduling Feasibility

Question 14

the feasibility analysis helps identify any constraints the proposed project may face, including:

Answer 14

1. Internal Project Constraints
2. Internal Corporate Constraints
3. External Constraints

Question 15

Internal Project Constraints

Answer 15

Technical, Technology, Budget, Resource, etc.

Question 16

Internal Corporate Constraints

Answer 16

Financial, Marketing, Export, etc.

Question 17

External Constraints

Answer 17

Logistics, Environment, Laws, and Regulations, etc.