Project Formulation and Feasibility Studies Analysis

Course Introduction

Investing in projects is a critical decision that must be underpinned by effective Project Management to fully realize its value. The Project Formulation and Feasibility Studies Analysis Course examines how integrating Feasibility Study and Project Planning Processes creates a solid foundation for successful project execution and benefit delivery to both the organization and key stakeholders.

In the first module, we focus on establishing technical, commercial, financial, and organizational feasibility.

The second module builds on this foundation by detailing how to plan each crucial element of the project, ensuring a comprehensive approach to managing and executing projects effectively.

This training course will feature:

• The benefits of undertaking a feasibility study
• How to conduct a feasibility study
• The Principles and Performance Domains for effective Project Management
• Project Initiation processes and creating the Project Management Plan
• Planning processes for Scope, Quality, Risk, Schedule, Cost, Resource, Communication, Stakeholder and Procurement Management

Training Objectives

By the end of this training course, participants will be able to: 

• Explain the essential value of Feasibility Studies
• Conduct and present a Feasibility Study
• Engage effectively with Project Stakeholders
• Create a Project Charter
• Create a Project Management Plan
• Carry out Project Planning Processes

Training Methodology

This training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented.

This training course focuses strongly on interactivity and practical exercises. Short presentations are combined with extensive discussions, relevant videos, team activities and case study exercises.

Examples from the delegates own organizations are used to bring training to life and to ground it in reality.

Who should Attend?

This training course is suitable to a wide range of professionals but will greatly benefit:

• Project Managers
• Project Planners
• Managers responsible for launching new products and services
• Senior operations managers

Module 1: Feasibility Studies: Preparation, Analysis & Evaluation

Day One: Introduction to Feasibility Studies

• What are feasibility studies and why are they important?
• Feasibility studies: definitions, principles and concepts
• Feasibility Study Components and Process
• Technical Feasibility
• Commercial Feasibility
• Organizational Feasibility – people, competence and resources

Day Two: Financial Feasibility

• Financial Feasibility – costs, return on investment
• Cost classification and estimation
• Non-Discounting Methods and Discounting Methods
• Prepare Your Capital Spending Plan
• Prepare Your Cash Flow Forecast
• Required Investment for Your Business

Day Three: Project Options and Risk Assessment

• Project requirements
• Performing an Options Analysis
• Option Generation and Selection
• Risk Management process and application
• Estimating Risk and Quantitative Risk Analysis
• Risk Response Planning

Day Four: Gaining Buy-In to Project Planning

• Components of a Feasibility Report
• Developing the Feasibility Report 
• Project Planning
• Critical Path Analysis
• Tips to preparing an impactful Business Plan
• Preparing to pitch your business idea - facing ‘The Dragon’s Den’
• Case studies

Day Five: Presenting a Business Idea

• The characteristics of engaging communication
• Multiple Intelligences
• The Learning Cycle
• Lessons Learned and Personal Action Plan
• Pitching a Business Idea
• Simulation and role play

Module 2 - Project Formulation: Preparing Projects to Maximise Sustainable Value

Day Six: Project Management Overview and Project Initiation

• Project Management Principles
• Project Management Performance Domains
• Project Management Life Cycles
• Identifying Stakeholders
• Prioritising Stakeholders
• Developing a Project Charter

Day Seven: Integration, Scope and Quality Management Planning Processes

• Developing the Project Management Plan
• Planning Scope Management
• Collecting Requirements
• Defining Scope
• Creating Work Breakdown Structures
• Planning Quality Management 

Day Eight: Risk Management Planning Processes

• Planning Risk Management
• Identifying Risks
• Creative Thinking Techniques
• Qualitative Risk Analysis
• Quantitative Risk Analysis
• Planning Risk Response 

Day Nine: Schedule and Cost Management Planning Processes

• Planning Schedule Management
• Defining and Sequencing Activities
• Estimating Activity Durations and Developing the Project Schedule
• Planning Cost Management
• Estimating Costs
• Determining the Budget 

Day Ten: Resource, Communication, Stakeholder and Procurement Management Planning Processes

• Planning Resource Management
• Estimating Project Resources
• Planning Communications Management
• Planning Stakeholder Engagement
• Planning Procurement Management
• Preparing the project for Execution