Feasibility Study: Difference between revisions
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[[File:Lifetime.png|thumb|Recourses distributions during the lifetime of a project.]] | [[File:Lifetime.png|thumb|Recourses distributions during the lifetime of a project.]] | ||
A Feasibility Study (FS) serves as a holistic decision basis for determining the practicality of a project idea. “''There is nothing more unproductive than to build something efficiently that should not have been built at all.''” Tim Bryce, Managing Director of M. Bryce & Associates. Worthwhileness is the essential focus of a FS. The distributions of recourses during the lifetime of a project are naturally negatively skewed, consequently it is most beneficial to address adjustments, optimizations, risks, limitations etc. related to a project at the very start | A Feasibility Study (FS) serves as a holistic decision basis for determining the practicality of a project idea. “''There is nothing more unproductive than to build something efficiently that should not have been built at all.''” Tim Bryce, Managing Director of M. Bryce & Associates. Worthwhileness is the essential focus of a FS. The distributions of recourses during the lifetime of a project are naturally negatively skewed, consequently it is most beneficial to address adjustments, optimizations, risks, limitations etc. related to a project at the very start. Hence a FS is an optional first stage of a project, where all major aspects of pursuing a given project are studied on a high level. | ||
Conducting a FS enables an objective analysis of a project idea. | Conducting a FS enables an objective analysis of a project idea. | ||
Revision as of 18:43, 15 September 2017
Abstract
A Feasibility Study (FS) serves as a holistic decision basis for determining the practicality of a project idea. “There is nothing more unproductive than to build something efficiently that should not have been built at all.” Tim Bryce, Managing Director of M. Bryce & Associates. Worthwhileness is the essential focus of a FS. The distributions of recourses during the lifetime of a project are naturally negatively skewed, consequently it is most beneficial to address adjustments, optimizations, risks, limitations etc. related to a project at the very start. Hence a FS is an optional first stage of a project, where all major aspects of pursuing a given project are studied on a high level.
Conducting a FS enables an objective analysis of a project idea.