Project Management Capstone

(PRJM1009-22F-13672)
Jagjit singh

200510090

What is the difference between a business plan and feasibility study?

A feasibility study and business plan is totally opposite to each other. The feasibility study helps
explain whether an idea or business is a viable option. The business opportunity is developed
before the business plan.

What is the meaning of feasibility study?

A feasibility study is a detailed analysis that considers all of the critical aspects of a proposed
project in order to determine the likelihood of it succeeding. Success in business is defined
primarily by return on investment, meaning that the project will create enough profit to justify
the investment.

Technical Feasibility
In Technical Feasibility present resources both hardware software along with required
technology are analyzed assessed to develop project. This technical feasibility study provide
report whether there exists correct required resources and technologies which will be used for
project development.

Organizational Feasibility
Organizational feasibility aims to assess the power of management and sufficiency of resources
to keep a product or idea to market. The company may evaluate the ability of its management
team on areas of interest and execution.

Economic Feasibility
In Economic Feasibility study expenses and advantages of the project is analyzed. Means
under the feasibility study a detail analysis is carried out what will be cost of the project for
development which carry all required cost for final development like hardware and software
resource required, design and development cost and operational cost and so on.
 Financial Feasibility
Financial feasibility is able to achieve the project with sufficient income, credit, and cash flow to
financially sustain the project over the long term and meet all debt obligations.

What means business case?

A business case provides clarification for undertaking a project, program or portfolio. It
evaluates the advantages, expenses and risk of alternative options and provides a rationale for the
preferred solution.

Why need business case?

A business case occasionally provides decision makers, stakeholders and the public with a
management tool for evidence based and transparent decision making. It is a structure of delivery
and performance monitoring of the subsequent policy, strategy or project to follow thereafter.

While the project proposal clearly focuses on why you want a project, it will
contain an outline of the project:

 business vision
 business need
 expected benefits
 strategic fit
 products produced
 broad estimates of time and cost
 and impact on the organization

There are steps for making business case template

 Executive Summary
 Finance
 Project Definition
 Project Organization