CIOProject ManagementRisk Management

Use Feasibility Studies to Ensure Your Project Can Succeed

Pilot projects, management software, and agile implementations are all great avenues to getting a stronger hold on projects. But there might be something even simpler than those options for ensuring the viability of a pending project. In an article for Tech Pro Research, Mary Shacklett discusses the overlooked value of feasibility studies.

Plausible Plans

Shacklett describes feasibility studies as occurring during project preplanning, after project conception but before presentation of the project concept to management. These studies can deduce (1) whether an organization can really handle the proposed technology under resource constraints, (2) if the project can be accomplished at a manageable cost, (3) how well a project aligns with strategy, and (4) if the timing for the project is right. Shacklett says it is typically a CFO who will recommend a feasibility study, but she encourages CIOs strongly to take up the practice themselves.

Only after a feasibility study has cleared the project is when it should proceed into a pilot project phase. This of course assumes that the CEO approved the project in the first place, but having a feasibility study at hand should increase that likelihood. It also accomplishes many other things. Shacklett describes the payoff of such studies like this:

First, by taking control of the feasibility study upfront in your project preplanning, you are addressing many of the concerns your primary dissenter in the budget funding process–the CFO–is likely to have. By showing the CFO and others that you have done your homework beforehand, you’re likely to encounter less resistance for the project.

Second, you create more options for yourself when it comes to laying out your IT roadmap of projects. You can schedule the project for reconsideration at a future date.

Third, you further the project management discipline and understanding of key staff members, who now understand that there is more to proposing an IT project than the fact that the technology seems great.

Feasibility studies might save you a lot of time, and save you from a lot of risk. You can view the original article here: http://www.techproresearch.com/article/dont-skip-past-feasibility-studies-they-can-boost-the-odds-of-project-success/

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