TECHNICAL REPORTS

I. FEASIBILITY STUDY
A feasibility study is an analysis that takes all of a project's relevant factors
into account—including economic, technical, legal, and scheduling considerations—
to ascertain the likelihood of completing the project successfully. Project managers
use feasibility studies to discern the pros and cons of undertaking a project before
they invest a lot of time and money into it.

Feasibility studies also can provide a company's management with crucial

information that could prevent the company from entering carelessly
into risky businesses.

KEY TAKEAWAYS

 A feasibility study assesses the practicality of a proposed plan or

project.
 A company may conduct a feasibility study if it's considering
launching a new business or adopting a new product line.
 It's a good idea to have a contingency plan in case of unforeseeable
circumstances, or if the original project is not feasible.

Understanding Feasibility Studies

A feasibility study is simply an assessment of the practicality of a
proposed plan or project. As the name implies, these studies ask: Is this
project feasible? Do we have the people, tools, technology, and resources
necessary for this project to succeed? Will the project get us the return on
investment (ROI) that we need and expect?

The goals of feasibility studies are as follows:

 To understand thoroughly all aspects of a project,

concept, or plan
 To become aware of any potential problems that could
occur while implementing the project
 To determine if, after considering all significant factors,
the project is viable—that is, worth undertaking
 Feasibility studies are important to business development.

 They can allow a business to address where and how it will

operate.

 They can also identify potential obstacles that may impede its
operations and recognize the amount of funding it will need to
get the business up and running.

 Feasibility studies aim for marketing strategies that could help

convince investors or banks that investing in a particular
project or business is a wise choice.

When doing a feasibility study, it’s always good to

have a contingency plan that you also test to make
sure it’s a viable alternative in case the first plan fails.

Tools for Conducting a Feasibility Study

Suggested Best Practices

Feasibility studies reflect a project's unique goals and needs,
so each is different. However, the tips below can apply broadly to
undertaking a feasibility study. You may, for example, want to do the
following:

 Get feedback about the new concept from the appropriate

stakeholders

 Analyze and ask questions about your data to make sure

that it's solid

 Conduct a market survey or market research to enhance

data collection

 Write an organizational, operational, or a business plan

 Prepare a projected income statement

 Prepare an opening day balance sheet

 Make an initial "go" or "no-go" decision about moving ahead

with the plan
Suggested Components
Once you have finished your basic due diligence, you might
consider the elements below as a template of items to include in your
study:

 Executive summary: Formulate a narrative describing details of

the project, product, service, plan, or business.

 Technological considerations: Ask what will it take. Do you

have it? If not, can you get it? What will it cost?

 Existing marketplace: Examine the local and broader markets

for the product, service, plan, or business.

 Marketing strategy: Describe it in detail.

 Required staffing (including an organizational chart): What are

the human capital needs for this project?

 Schedule and timeline: Include significant interim markers for

the project's completion date.

 Project financials.

 Findings and recommendations: Break down into subsets of

technology, marketing, organization, and financials.

https://www.investopedia.com/terms/f/feasibility-study.asp

These are the five questions most feasibility studies have to answer in order
to justify a new project, plan, or method:

1. Is this plan technically feasible?

Starting off, this question will help you determine whether or not your
organization has the technical resources to successfully execute this
project.

This includes evaluating all of the hardware, software, and other

technical assets you have at your disposal and whether or not they meet
the requirements of your new project.
2. Is this plan legal?

Does your organization meet all of the requirements, laws, and

regulations to complete this project?

It’s a complete nonstarter if your project doesn’t meet the legal

threshold for completion, which includes anything from data protection laws
to building requirements.

Otherwise, you’ll make it halfway through your project before you

realize that your team isn’t meeting some overlooked regulation that’ll
waste more time and resources to rectify later.

3. Is this plan operationally feasible?

Will this proposed project solve the problems you hope it will solve? Is
the solution reliable, maintainable, and affordable?

There is no sense in sinking time, money, and energy into a project

that isn’t likely to produce quality results for your team or your
stakeholders.

4. Is this plan feasible within a reasonable period of time?

This is one of the most important questions: do you have the time to
complete this project?

It’s important that you establish a realistic project schedule for project
completion, otherwise, you’ll find yourself dropping the ball on deadlines
and quality for your deliverables.

5. Is this plan economically feasible?

Finally, we reach the most obvious of the feasibility questions.

This is where you will assess whether or not this project will provide the
supposed value needed to justify its cost. You can assess this area of
feasibility based on several different factors, including:

 Projected profitability
 The total cost of completion
 Estimated investment by outside parties
 No matter how incredible a project may seem, if the numbers don’t add
up, then either you’ll have to seek out larger budgets or the plan isn’t worth
the risk.

https://www.fool.com/the-blueprint/feasibility-study/

II. PROJECT PROPOSAL

A project proposal is a key document that describes an external or internal
project. It states details like goals, objectives, important dates, milestones and
requirements needed to start and complete the project.

Your project proposal should whet decision-makers' appetites, clearly

communicate your ideas while winning buy-in and those all-important resources and
budgets you need to make it happen.

A project proposal is your project's first impression with leadership. It's that
first handshake that determines interest in your idea—or not—and kicks off a project
life cycle.

Purposes:

 To secure funding
 To win new clients
 To get existing clients to sign a extend their contracts
 To convince manager or employer to allocate resources to a new
initiative

Types of Project Proposals

Formally/informally solicited project proposals

A formally solicited proposal is in response to an RFP (Request

for proposal.) Often initiated by project managers, it comes with
pretty specific directions. There's a high chance that if this
proposal is well-written it'll be approved. (* Sent to respond to a
Request for Proposal)

An informally solicited project proposal is perhaps the trickiest

type of project proposal to write. It's the same as above but
usually requested verbally or via an informal communication
channel. (Sent in response to an informal client request.)
 It means this type of proposal doesn't come with as much
context, the writer will need to do a lot of research themselves in
order to get someone else's idea approved. It's a tricky one, but
manageable with the right template.

Unsolicited project proposals

Just because no one asked for your project proposal, doesn't

mean they don't want it. Perhaps they don't know they need it yet
and you're one step ahead of the game. You'll need to do a lot of
work to get this type of proposal approved, but it could be a game-
changer for your business.

Unsolicited proposals come from those "Aha" moments you

have in your everyday work. Perhaps you've identified a problem,
a solution, or an opportunity but need resources to build out your
idea and get it approved—this is when you turn to an unsolicited
project proposal.

* Sent without an RFP.

Continuation project proposals

This type of project proposal is usually done on a calendar basis
when a project enters a new phase, or new resources/budgets are
needed to ensure the continuation of a project.

Continuation project proposals are lower lift as the project itself

has already been approved and is running.

Sent to remind an investor that the project is underway and to

provide progress updates.

Renewal project proposals

This type of project proposal is for when a project has run its
course and needs to start again. The research for this type of
proposal usually comes from the success data of the previous
project.

Sent to an existing client to encourage them to renew your

services
 Supplemental project proposals

Have you gone over budget on your project or need more

resources than you originally requested? This one's for you. It's not
the most positive of project proposals, but if something is in short
supply that you need to complete a previously approved project
proposal then this type of proposal is the one you'll turn need.

Sent to remind an investor that the project is underway and ask

for additional resources.

A project proposal outline breakdown

Introduction

At the beginning of this article, we mentioned the importance of

a first handshake to make a good impression. Your introduction is your
moment to excite readers. Your project proposal executive summary
needs to hook the reader. It's essentially your elevator pitch to your
project while summarizing what the reader can expect.

Proposed problem and solution

Next up, you'll want to jump straight into the meat of your
proposal while you've got the readers' utmost attention. Here you need
to explain the problem you've witnessed alongside your proposed
solution. Keep it short, concise and try to be data-minded.

Proposed method to fix the problem

After you've outlined your solution, lay out the methodology
you've planned to help get there. This is essentially your project itself.
You'll need to determine why this method is best, others you've
considered, and use past projects as case studies to back up your
strategy.

At this point, you'll also want to showcase how you'll be

measuring and reporting on the project's success. State which metrics
you'll watch, and how you intend to display the results. Get into the
nitty-gritty here. If you're going to use a specific graph or measurement
theory, then let the reader know—they may have a better solution.
 Request for resources

By this point, you've hopefully convinced the reader that your

project needs to be implemented and assured them that the method
you've laid out is the best way to go about it. Now comes the tricky
part, a request for resources. Be clear on what you need, how much
you need and why.

It's always good to ask for more and use less, than have to ask
for more later on with a supplemental project proposal.

Authorization
Once you've laid out all of your requests, you need to identify
those key stakeholders and team members essential to the approval
process. Include internal and external stakeholders that are
responsible for making this project a success, as well as the time frame
they'll have to give the go-ahead for each stage of the project.

Conclusion
Wrap things up nicely; this is your last opportunity to push your
project forward. Finish on a positive note and focus on the benefits
your project will bring the company. For more information - view our
project outline guidelines.

Appendix
Your project proposal is going to need a lot of data and
research. However, to stay on track and keep the proposal short, not
all your info needs to be in the body of the proposal. Use references in
your proposal and show where you got your information from in the
appendix.

How to write the best project proposal?

Step 1: Understand your triple constraint

Time, scope, and cost—project management 101. Also known

as the project management triangle. Know your triple constraint
throughout every step of your project and don't be afraid to address
them in your proposal.

Step 2: Write for your audience

Your project proposal will resonate a lot better if you know who
you're addressing. Know your reader or readers and adjust your
formalities and provided information accordingly. Knowing your
audience will also help you understand what they already know and
what you need to explain in further detail.

Step 3: Use a cover letter & table of contents

Just like a book submission to an editor, no one wants to dive

into the unknown. Submit your project proposal with a cover letter.
Your cover letter can be something as simple as a few paragraphs via
email. This letter, coupled with a table of contents, will help set your
audience up mentally for what they're about to read.

Step 4: Use the 5 W's when explaining

If you're ever in doubt on how to explain something within your

project proposal, you can always rely on the 5 W's. What, why, who,
where, when—and how for good measure. By answering these simple
questions, you'll be surprised by the information they prompt out of
you.

Step 5: Keep it short

Know your limit. You'll have a reader's attention at first, but even
the best of writers can only keep that attention for so long. Try to keep
your project proposal to two pages maximum, with only the appendix
running onto the third page.

Step 6: Use a template

Maybe you saw this one coming, maybe you didn't. When in
doubt, use a template. Establishing a project proposal template or
templates within your organization will help everyone's proposals cover
the important bits, as well as manage expectations for readers.

Step 7: Proof your work

We cannot stress this point enough. Get a second pair of eyes,

or just rested eyes, on your proposal before you submit it. Sure, you're
not being graded on your spelling, however, it will help build your
trustworthiness and avoid any miscommunication.
Step 8: Reference your points

A good project proposal doesn't shy away from images, or other

data points to back up what you're saying. Customer testimonials,
customer complaints, user analytics, whatever your reasoning is
behind your project proposal; make sure it's coming from informed
decisions rather than feelings. You're more likely to get it approved that
way.

Step 9: Discuss the core problem and its current state

When discussing the problem you've identified, make sure you

cover its current state and why that's failing your business before you
offer a solution. By doing so, you allow the reader to see the bigger
picture, they can then decipher if your project should be a larger priority
if the problem is currently damaging the company's reputation.

Step 10: Outline client benefits

No matter what area of the business your project focuses on, at
some point, your project will benefit your current customers or new
clients. Whether it's directly affecting them like inclusive pricing. Or, is
something that will, in turn, affect them like optimizing an internal
process. Be sure to highlight the how and why—no matter how far
down the line they will benefit. By doing so, you bring a focus on your
customer and add greater value to your project.

Step 11: Deliverables and KPIs

Be strategic when goal setting for your new project. Try to focus
on SMART goals to ensure your KPIs cover everything and properly
showcase the project's progress. State how often you will share a
project report.

https://slite.com/learn/how-to-write-project-proposal
SAMPLE PROJECT PROPOSAL

Executive summary

Rose Boutique is the leading women's retro apparel store in the Bay Area. However,
without a website, the store cannot sell beyond this area. As discussed in our recent
phone conversation, the team at Everbright Technology Solutions would love to
create a website for you that can help you expand your reach to the rest of California
and even an international market.

This website would feature an easily updatable shopping cart with international
currency and other features to provide convenience to local shoppers and engage a
wider audience of fashionable women. We anticipate this website would help you
increase your sales by 500% in the next two years.

Project background

Everbright Technology Solutions is a website design firm based in Silicon Valley. We

have a long history of working with retailers, especially retailers in the fashion space.
We are passionate about helping these clients transition into the digital world and
build on their success with accessible and functional websites. We believe a website
should complement your existing business practices rather than replacing them. We
think this philosophy makes us an excellent fit for your retro-influenced store.

Solutions and approach

We plan to create a simple yet stylish website that fits the existing Rose Boutique
brand. It will be user-friendly for your existing and growing customer base and easily
updatable through a content management system to ensure it always reflects current
stock and promotions. It will help your business become more competitive as people
increasingly look for online shopping solutions.

The website will have the following components:

 An About Us page detailing the store's history and philosophy

 An online store that lets shoppers search for and purchase your products from the
comfort of their homes. Automatic currency conversion and shipping calculators make
shopping anywhere in the world easy. The online store will accept payments from
major credit cards and digital wallets.

 A blog that you can update at any time with posts about new clothing arrivals and
general stories to engage your readers, such as seasonal styling tips and information
about retro style icons.
  A contact page with store address, telephone and a contact form that browsers can
complete to email you.

We will provide free ongoing support for the first three months after delivery. After
that time, we will happily resolve any issues for a small fee.

We expect your website to go live three months after your acceptance of our
proposal. After that time, you will take complete ownership of the project.

Financials

We will charge $5000 to build this website. This cost includes the following:

 Hosting space on our servers

 Two years' registration of the domain https://www.missthingclothing.com ($20 renewal
fee applies every subsequent two years)
 Total website design and creation
 Integration of mobile wallet payments
 Troubleshooting assistance three months after delivery

Additional documents

Everbright Technology Solutions attached the following documents:

 A list of contacts of Everbright Technology Solutions employees working on the

website
 A site map for the website
 A page of testimonials from other retailers that had used its services.

Conclusion

In summary, a website created by Everbright Technology Solutions can help Rose

Boutique expand its reach to the rest of California and even the international market.
The website would feature an easily updatable shopping cart with international
currency and other features to provide convenience to local shoppers and engage a
wider audience. We anticipate this website would help you increase your sales by
500% in the next two years.

https://www.indeed.com/career-advice/career-development/how-to-write-a-project-proposal