Feasibility Study and Project Management Methodology

Q: The Business Case and Feasibility Study are two closely linked documents it seems, in the project management methodology. Would you ever do one without the other?

A: In most projects, a Business Case is completed to determine whether the project deliverables justify the planned expendituire. So you list the benefits to be realized by undertaking the project, and you then identify the costs. And if the costs outweight the benefits then the business case is more likely to be approved. However during this process, a Feasibility Study is normally completed to determine the feasibility of the solution. The feasibility study is sometimes completed after the approval of a business case as a separate exercise, but either scenario is fine.

Comments

Post a Comment

Popular posts from this blog

Lean Methodology

The use of lean methodology has grown in the manufacturing sector since it was first implemented after World War II. As time has progressed, this methodology has been refined with the end result of creating more, faster and with less. The type of companies that can best utilize the lean methodology approach is manufacturing, because of the principles involved with it. This is to create a product with as little invested as possible in the deliverable. For a company wishing to use the lean methodology , they must first analyze their process in depth. Once the analysis has been completed in every process, the process of eliminating waste can begin on the process as a whole. Each part of the process has to contribute to the end product. The cutting of waste from each and every step in the production of a deliverable is the core essence of the lean methodology approach. This can be in the material that is added or the number of workers necessary to complete the task. The overall reductio...
Read more

Communications Register

Under what situations should I create a Communications Register for my project ? For small, medium and large projects you should always implement a Communications Register. This register will identify all of the communications events that have taken place for the project and also the communications events that are due to take place in the future. The reason for listing the communications events that are due to take place is that it provides a single place where the project manager can use and control communications to stake holders. For example the register will enable the project manager to view the status of all of the communications to date and determine whether or not the stake holders to the project are being kept in the loop and informed.
Read more

Management Methodologies

The modifying and developing of new management methodologies to fit the needs of industry is an ongoing process. With the use of a computer, this has become a much easier process than before. This has made it very easy to create, customize and import existing methodologies along with managing several of them at once. You can use management methodologies to define new process you have developed or group any set of existing process into a new methodology. There are project management methodology programs that can assist in the documentation of your new methodology so it can be used and shared by those you have approved. You can even customize a methodology for a particular size project with this type of program. The most often use of this type of software program is to use several different management methodologies and modify them to you specific needs. This way you’re working environment and available resources can be made the most of in running your project. Most programs that allow ...
Read more