Project Management

Assignment

Student Name: Jiya Sehgal

Student ID: 1166566

Group: 4 (BEO29)

Exam Instruction

1. You should read 10 questions Carefully

2. You should answer the questions Clearly
3. The Students have to answer and send your answers to Moodle
4. Name the file as: - Assignment – Project Management – Project
Feasibility Study

Question:

1- Explain Feasibility study completely and provide an example.

ANS.1 A feasibility study is an evaluation and analysis of a project or

system that somebody has proposed. We also call it a feasibility analysis.
The study tries to determine whether the project is technically and
financially feasible, i.e., is it technically or financially viable? Financially
feasible, in this context, means whether the project is feasible within the
estimated cost.
A feasibility study also determines whether a project makes good business
sense, i.e., will it be profitable?
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Put simply; the study is an analysis of how easily or successfully we could

complete something. It also tries to determine how profitable or
unprofitable it might be.
When large sums of money are at stake, companies and organizations
typically carry out feasibility studies.

The word ‘feasibility‘ means the degree or state of being easily,

conveniently, or reasonably done. If something is ‘feasible,’ it means that
we can do it, make it, or achieve it. In other words, it is ‘doable’ and also
‘viable.’
A viable business, for example, is one we expect will make a profit every
year for a long time.
On an Iowa State University webpage, Mary Holz-Clause and Don
Hofstrand write:
“A feasibility study is an analysis of the viability of an idea.”
“The feasibility study focuses on helping answer the essential question of
‘should we proceed with the proposed project idea?’ All activities of the
study are directed toward helping answer this question.”
A viability study is similar to a feasibility study. However, the viability
study only looks at how profitable or commercially successful an idea or
project might be. It does not determine whether something is doable.

2- Explain Strategic Analysis completely and provide an example

ANS.2 Strategic analysis refers to the process of conducting research on a

company and its operating environment to formulate a strategy. The
definition of strategic analysis may differ from an academic or business
perspective, but the process involves several common factors:

Identifying and evaluating data relevant to the company’s strategy

Defining the internal and external environments to be analyzed
Using several analytic methods such as Porter’s five forces analysis,
SWOT analysis, and value chain analysis.
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A strategy is a plan of actions taken by managers to achieve the

company’s overall goal and other subsidiary goals. It often determines
the success of a company. In strategy, a company is essentially asking
itself, “Where do you want to play and how are you going to win?” The
following guide gives a high-level overview of business strategy, its
implementation, and the processes that lead to business success.

To develop a business strategy, a company needs a very well-defined

understanding of what it is and what it represents. Strategists need to
look at the following:

Vision – What it wants to achieve in the future (5-10 years)

Mission Statement – What business a company is in and how it rallies
people
Values – The fundamental beliefs of an organization reflecting its
commitments and ethics
After gaining a deep understanding of the company’s vision, mission,
and values, strategists can help the business undergo a strategic analysis.
The purpose of a strategic analysis is to analyze an organization’s
external and internal environment, assess current strategies, and generate
and evaluate the most successful strategic alternatives.

3- Explain Market analysis completely and provide an example

ANS.3 A market analysis provides information about industries,

customers, competitors, and other market variables. You can also
determine the relationship between supply and demand for a specific
product or service. Based on these insights, you can make more informed
decisions about possible marketing strategies.
Now that you have a good grasp of the definition of market analysis (and
what that definition really means), you might be curious to see some real
examples of market analysis. Unfortunately, market analysis reports are
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extremely difficult to find, since they’re often created by businesses for

internal use only. After all, why share your extensive research with
competitors?

Even on the internet, it’s extremely difficult to find examples of market

analysis. That’s why we created this handy market analysis example for the
smartphone industry. In the example, you’ll find a ton of great information,
including:

The research factors for a market analysis of the smartphone industry

How to summarize market analysis in a single sentence
How to correctly interpret and use market analysis

4- Explain SWOT analysis completely and provide an example

ANS.4 A SWOT analysis is a compilation of your company's strengths,

weaknesses, opportunities and threats.
The primary objective of a SWOT analysis is to help organizations develop
a full awareness of all the factors involved in making a business decision.
Perform a SWOT analysis before you commit to any sort of company
action, whether you are exploring new initiatives, revamping internal
policies, considering opportunities to pivot or altering a plan midway
through its execution.
Use your SWOT analysis to discover recommendations and strategies, with
a focus on leveraging strengths and opportunities to overcome weaknesses
and threats.
To run a successful business, you should regularly analyze your processes
to ensure you are operating as efficiently as possible. While there are
numerous ways to assess your company, one of the most effective methods
is to conduct a SWOT analysis.
A SWOT (strengths, weaknesses, opportunities and threats) analysis is a
planning process that helps your company overcome challenges and
determine what new leads to pursue.
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The primary objective of a SWOT analysis is to help organizations develop

a full awareness of all the factors involved in making a business decision.
This method was created in the 1960s by Albert Humphrey of the Stanford
Research Institute, during a study conducted to identify why corporate
planning consistently failed. Since its creation, SWOT has become one of
the most useful tools for business owners to start and grow their
companies.
"It is impossible to accurately map out a small business's future without
first evaluating it from all angles, which includes an exhaustive look at all
internal and external resources and threats," Bonnie Taylor, chief
marketing strategist at CCS Innovations, told Business News Daily. "A
SWOT accomplishes this in four straightforward steps that even rookie
business owners can understand and embrace."

Bryan Weaver, a partner at Scholefield Construction Law, was

heavily involved in creating a SWOT analysis for his firm. He
provided Business News Daily with a sample SWOT analysis
template and example that was used in the firm's decision to
expand its practice to include dispute mediation services. His
SWOT matrix included the following:

STRENGTHS

WEAKNESSES

Construction law firm with staff members who are trained in both
law and professional engineering/general contracting. Their
experience gives a unique advantage.

Small (three employees) – can change and adapt quickly.

No one has been a mediator before or been through any formal

mediation training programs.
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One staff member has been a part of mediations but not as a

neutral party.

OPPORTUNITIES

THREATS

Most commercial construction contracts require mediation.

Despite hundreds of mediators in the marketplace, only a few have
actual construction experience.

For smaller disputes, mediators don't work as a team, only as

individuals; Scholefield staff can offer anyone the advantage of a
group of neutrals to evaluate a dispute

Anyone can become a mediator, so other construction law firms

could open up their own mediation service as well.

Most potential clients have a negative impression of mediation,

because they feel mediators don't understand or care to understand
the problem, and rush to resolve it

5-Explain Technical Analysis- completely and provide an example

.
ANS.5 It assesses the details of how you intend to deliver a product or
service to custom [4:03 p.m., 2021-06-22] Gursimran College🇨🇦: It
assesses the details of how you intend to deliver a product or service to
customers. Think materials, labor, transportation, where your business will
be located, and the technology that will be necessary to bring all this
together.
[4:03 p.m., 2021-06-22] Gursimran College🇨🇦: This assessment focuses
on the technical resources available to the organization. It helps
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organizations determine whether the technical resources meet capacity and

whether the technical team is capable of converting the ideas into working
systems. Technical feasibility also involves the evaluation of the hardware,
software, and other technical requirements of the proposed system. As an
exaggerated example, an organization wouldn’t want to try to put Star
Trek’s transporters in their building—currently, this project is not
technically feasible.mers. Think materials, labor, transportation, where
your business will be located, and the technology that will be necessary to
bring all this together.
This assessment focuses on the technical resources available to the
organization. It helps organizations determine whether the technical
resources meet capacity and whether the technical team is capable of
converting the ideas into working systems. Technical feasibility also
involves the evaluation of the hardware, software, and other technical
requirements of the proposed system. As an exaggerated example, an
organization wouldn’t want to try to put Star Trek’s transporters in their
building—currently, this project is not technically feasible.

6-Explain Management Analysis completely and provide an example.

ANS.6 This assessment involves undertaking a study to analyze

and determine whether—and how well—the organization’s needs
can be met by completing the project. Operational feasibility
studies also examine how a project plan satisfies the requirements
identified in the requirements analysis phase of system
development. When these areas have all been examined, the
feasibility analysis helps identify any constraints the proposed
project may face, including:
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Internal Project Constraints: Technical, Technology, Budget,

Resource, etc.
Internal Corporate Constraints: Financial, Marketing, Export, etc.
External Constraints: Logistics, Environment, Laws, and
Regulations, etc.

7- Explain Financial Analysis completely and provide an example

ANS.7 Financial analysis is the process of evaluating businesses, projects,

budgets, and other finance-related transactions to determine their
performance and suitability. Typically, financial analysis is used to analyze
whether an entity is stable, solvent, liquid, or profitable enough to warrant
a monetary investment. Financial analysis is used to evaluate economic
trends, set financial policy, build long-term plans for business activity, and
identify projects or companies for investment. This is done through the
synthesis of financial numbers and data. A financial analyst will
thoroughly examine a company's financial statements—the income
statement, balance sheet, and cash flow statement. Financial analysis can
be conducted in both corporate finance and investment finance settings.

One of the most common ways to analyze financial data is to calculate

ratios from the data in the financial statements to compare against those of
other companies or against the company's own historical performance.

For example, return on assets (ROA) is a common ratio used to determine

how efficient a company is at using its assets and as a measure of
profitability. This ratio could be calculated for several companies in the
same industry and compared to one another as part of a larger analysis.

8- Explain Economic Analysis completely and provide an example

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ANS.8 Economic analysis involves assessing or examining topics or issues

from an economist’s perspective. Economic analysis is the study of
economic systems. It may also be a study of a production process or an
industry. The analysis aims to determine how effectively the economy or
something within it is operating. For example, an economic analysis of a
company focuses mainly on how much profit it is making.

Economists say that economic analysis is a systematic approach to find out

what the optimum use of scarce resources is.
emplate.net, which supplies ready-made analysis templates, says that
economic analysis involves comparing at least two alternatives in
achieving, for example, a certain goal under specific constraints and
assumptions.

Economic analyses factor in the opportunity costs that people or companies

employ. They measure, in monetary terms, what the benefits of a project
are to the economy or community.

Opportunity cost is all about evaluating the option you gave up when you
made a choice.

FBSMY.com, which has an economic calendar, has the following

definition of the term:

“Economic is the study of economic systems or a production process. The

aim is to determine whether it operates effectively and how profitable it
is.”

Put simply; economic analysis is all about analyzing the economic aspects
of something.

Apart from economists, statisticians and mathematicians may also carry out
economic analysis.
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9- Explain Environmental Analysis-- completely and provide an

example

ANS.9 environmental analysis is a strategic tool. It is a process to identify

all the external and internal elements, which can affect the organization’s
performance. The analysis entails assessing the level of threat or
opportunity the factors might present. These evaluations are later translated
into the decision-making process. The analysis helps align strategies with
the firm’s environment.

Our market is facing changes every day. Many new things develop over
time and the whole scenario can alter in only a few seconds. There are
some factors that are beyond your control. But, you can control a lot of
these things. HOMEPEST Analysis What Is Environmental Analysis?

Businesses are greatly influenced by their environment. All the situational

factors which determine day to day circumstances impact firms. So,
businesses must constantly analyze the trade environment and the market.

There are many strategic analysis tools that a firm can use, but some are
more common. The most used detailed analysis of the environment is the
PESTLE analysis. This is a bird’s eye view of the business conduct.
Managers and strategy builders use this analysis to find where their market
currently. It also helps foresee where the organization will be in the future.

10- Explain Social Analysis completely and provide an example

ANS.10 Social analysis is the practice of systematically examining a

social problem, issue or trend, often with the aim of prompting
changes in the situation being analyzed.
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A social problem is a situation that is viewed by some community

members as being undesirable. In a business context, examples of
social problems include outsourcing jobs to another country, customer
data privacy and wasting energy. Social analysis, which is topic-
driven, can address such issues through qualitative research or
quantitative multivariate approaches. Multivariate analysis is a field of
statistical analysis and data analytics that deals with variables and
their relationships.

Social analysis frequently involves issues of equality and social justice,

but the insight gained from combining social analysis techniques and
CRM analytics can also help organizations create business strategies
and policies that are sensitive to particular social issues and likely to be
perceived by customers as having a positive social impact. For
example, after discovering through analysis of a customer survey that
increased efforts to develop renewable energy would be viewed in a
positive light, an oil company might decide to expand its investments
in biogas, geothermal energy and solar power research.