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One can imagine the thrill of skydiving, jumping out of an airplane thousands of feet above ground. And that’s when you take a moment to reflect if post-dive thrill and experience were worth the money and the risk you took.
That moment right there was a feasibility test (even if it’s after the investment).
Similarly, it can be exciting to run a large, complex project that has a huge potential impact on your organization. On the one hand, you’re driving real change. On the other, failure is intimidating. And before committing time, energy, and resources to a new project, PMs and executives want to know: Can this project succeed? And even if the project is successful, will the outcomes justify the cost and effort? These questions decide the fate of the project.
That’s where a Feasibility Assessment comes in.
So, what is a Feasibility Assessment?
It is a comprehensive evaluation of a proposed project that evaluates all factors critical to its success to assess its likelihood of success. Business success can be defined primarily in terms of ROI, which is the profit that the project will generate. A feasibility study evaluates a project's or system's practicality. As part of a feasibility study, the objective and rational analysis of a potential business or venture is conducted to determine its strengths and weaknesses, opportunities and threats, resources required to carry out the project, and ultimate success prospects. Two criteria should be considered when judging Economic Viability: The required cost and expected value. In a feasibility study, a proposed plan or project is evaluated for its practicality.
As the name implies, a feasibility analysis is used to determine the viability of an idea, such as ensuring whether a project is legally and technically feasible as well as economically justifiable. It tells us whether a project is worth the investment—in some cases, a project may not be doable. There can be many reasons, including requiring a disproportionate amount of resources, which not only prevents those resources from performing other tasks but also may cost more than an organization would earn back by taking on a project that isn’t profitable.
A well-designed study should offer a historical background of the business or project, such as a description of the product or service, accounting statements, details of operations and management, marketing research and policies, financial data, legal requirements, and tax obligations. And we’ve got them all covered in our expert-designed Feasibility Assessment Templates.
These templates are 100% editable, customizable and content-ready; provide you with a structure to build your Feasibility Assessment Reports. With the desired flexibility to edit, they can be tailored to your resources.
Template 1: Project Feasibility Assessment PPT Deck
This complete deck enables you to conduct a comprehensive Feasibility Assessment for your upcoming project. It includes slides on overview of the project and team members working on the same. Track of the team's current capability and factors for evaluation of the project viability with the slides provided. Use the dashboard to sort, present, and analyze your organization’s current data. To explore other slides on financial data, legal requirements, and tax obligations. Download Now!
Template 2: Software And IT Project Feasibility Assessment Report PPT Bundle
This PPT Bundle is a comprehensive and efficient tool that assists stakeholders in determining the viability of a project idea. This PPT template focuses on two crucial aspects of the project: its economic justification and its technical and legal feasibility. It guides the user through the feasibility reports objectives, project scope, key requirements, and background. The report also includes a risk analysis, highlighting risks that organizations may face and a matrix to assess their likelihood, impact, and severity. The monetary analysis section presents cost estimations using a pie chart and table with a detailed breakdown. Additionally, the project feasibility investment report provides a project timeline with key tasks to be completed within a deadline. The project management template includes organization and company details, as well as an introduction. Download Now!
Template 3: New Product Feasibility Assessment PPT Template
This PPT Slide provides an inclusive framework for evaluating the viability and potential of a new product. It encompasses sections for Feasibility Assessment and Commercialization, allowing users to define and develop strategies for both stages. With dedicated spaces for notes under each section, users can record observations and insights gathered during the assessment process. Additionally, the template includes areas for detailing Product Specifications, Marketing strategies, and Utilization plans. This comprehensive tool aids in thorough examination and planning, facilitating informed decision-making for successful product development and integration into the market. Download now!
Template 4: Overview of the Project PPT Template
Use this PPT Template to summarize your project in one slide. The template includes aspects such as project title, proposed budget and project duration. This data allows you to record the investment of monetary, time, and human resources into the project. This will be beneficial while calculating the return on investment. Write the project’s summary, objective and its scope. To ensure that your team is on the same page, write a clear note on the desired outcome, Download Now!
Template 5: Project Milestone Status To Date PPT Template
This PPT Preset offers a structured overview of project progress, detailing key activities, start and end dates, status, and status descriptions. Users have the capability to record up to four milestones, actively tracking their initiation status, ensuring timely completion, and identifying any delays experienced in the process. The status description provides insight into the reasons behind each status, aiding in understanding project performance. With clear organization and concise information, this template helps monitor and communicate project milestones, facilitating effective project management. Download it now!
Template 6: Assessment of Identified Risks PPT Template
This slide provides a structured approach to evaluating project risks, listing factors such as risk area, type, event, likelihood, and impact. Specific examples include client management with a communication issue rated at a high-risk value, indicating a critical need for action. Server technical issues have a moderate risk value. The slide underscores that risks with a value of 20 or more require immediate attention to prevent adverse effects. This template empowers risk analysts to prioritize risk mitigation strategies, guiding them to take decisive action. The "Key Takeaways" section distills essential action points for immediate implementation. Download now.
Template 7: Project Management Dashboard with Priority Projects and Category PPT Template
The Dashboard Template provides a snapshot of project statuses, detailing projects and their total budget. The dashboard visualizes risk levels and budget consumption across priorities. They are classified into high-priority, medium priority, and low priority. There is ample space for key takeaways allowing for strategic insights into project progress and financial allocation. Get it now.
Template 8: Risk Analysis for Software and IT Project PPT Template
This slide features icons representing anticipated risks, such as funding constraints and external environmental impacts. The accompanying table depicts risk descriptions, likelihood, severity, and assigned responsibilities, empowering teams to address potential challenges. Download now
Template 9: Project Timeline for Software and IT Project PPT Template
Use this PPT Template to plan and optimize the usage of time for your projects. This slide has a table with monthly columns to organize your task for the year. You can list planned tasks on the left vertical column. Use the bars to highlight the planned duration of tasks on the table given. Mark milestones with the help of the upward facing arrows given in the slide. To get access, download now!
Template 10: Case Study for Software and IT Project PPT Template
You can use this template to highlight a feasibility case study in your company's history . This will include the project managed in the past, the process you followed, and the result that was finally achieved. This case study should be chosen on factors like results achieved and the time taken to achieve the desired results.
Make sure you take the right step!
A feasibility assessment is an important tool for evaluating a project before starting it. By understanding the feasibility of a project, you can make better decisions about whether to move forward.
We hope this helped you understand the concept of feasibility study better. To learn more about similar project management concepts, or risk management plans , checkout our blogs.
