1.

Introduction
The feasibility study or feasibility analysis is the foundation upon which your project plan resides.
Feasibility analysis determines the viability of your project.
Feasibility study is simply an assessment of the practicality of a proposed project plan.
This is done by analyzing technical, economic, legal, operational and time feasibility factors.
As name implies, you are asking for your project, “Is this feasible?”
Concept and Application:
A project feasibility study should be done during the project management life cycle after the business
case has been completed.
An effective feasibility study points a project in the right direction by helping decision-makers have a
holistic view of the potential benefits, disadvantages, barriers and constraints that could affect its
outcome.
The main purpose of a feasibility study is to determine whether the project can be not only viable but
also beneficial from a technical, legal and market perspective.
The findings of your project feasibility are compiled of a feasibility study which include –
I) Formation of preliminary analysis of the project:
It is needed to begin by outlining your project plan.
You should focus on a unserved need, a market where the demand is greater than the supply and whether
the product or service has a distinct advantage.
Then determine if the feasibility factors are too high to clear – too expensive, fail to effective market,
and alike.
II) Outline the Finances:
This step requires working backward.
Start with what you expect the income from project to be and then what project funding is needed to
achieve that goal.
This is the foundation of an income statement.
Factor in what services are required and how much they’ll cost and any adjustments to revenues such as
reimbursements and alike.
This includes an estimate of the assets and liabilities, one that should be as accurate as possible.
To do this, create a list that includes items, sources, costs and available financing.
Liabilities to consider are such things as leasing or purchasing land, buildings and equipments, financing
for assets and accounts receivables.
III) Research the Market:
This step is key to the success of your feasibility study, so make your market analysis as thorough as
possible.
It’s so important that if your organization doesn’t have the resources to do a proper one, then it is
advantageous to hire an outside firm to do so.
Market research will give you the clearest picture of the revenues and return on investment you can
realistically expect from the project.
Some things to consider are the geographic influence on the market, demographics, analyzing
competitors, the value of the market and what your share will be and if the market is open to expansion
that is in response to you offer.
IV) Organize the Project’s Structure:
Once the groundwork of the previous steps has been laid, it’s time to setup the organization and
operations of the planned project to meet its technical, operational, economic, and legal feasibility
factors.
This isn’t superficial, broad stroke endeavor.
It should be thorough and include start-up costs, fixed investments and operating costs.
These costs address things such as equipment, merchandising methods, real estate, personnel, supply
availability, overhead, and alike.
V) Assess the results:
All of these steps are important, but the review and assessing the results are especially important to
ensure that everything is as it should be and that nothing requires changing or tweaking.
Take a moment to look over your work one last time.
Re-examine your previous steps, such as the income statement, and compare them with your expenses
and liabilities.
Is it still realistic? This is also the time to think about risk and come up with any contingency plans.
VI) Make a Final Decision:
You are now at the point to make a decision about whether or not the project is feasible.
That sounds simple, but all the previous steps lead to this decision-making moment.
A couple of other things to consider before making that binary choice are whether the commitment is
worth the time, effort and money and whether it aligns with the organization’s strategic goals and long-
term aspiration.
Conclusion:
There are many steps and aspects to project feasibility study.
If you want your project feasibility study to be accurate and forecast correctly whether your project is
doable, then you need to have a clear understanding of all its moving parts.
Feasibility study is done during a project lifecycle and its done after the business case because the
business case outlines what we are proposing.
The reason we do feasibility study is that we need to determine the factors that will make the business
opportunity a success.

2. Introduction
Most organizations have a limited pool of resources and that includes people.
Increasingly, employees are tasked with juggling multiple projects along with other job responsibilities.
As a project manager in a multi-project environment with frequently changing priorities and ongoing
pressures, it’s unlikely that you’ll always be able to get the people power you want, in terms of both
quantity and quality, for your project team.
To clearly define your project’s needs and effectively communicate those needs across and up the
organization, developing strong project management skills and implementing human resource planning
in project management are essential.
Concept and Application:
Human Resource Planning ensures that you have the right number of people with the right skills for a
sufficient amount of time to help get your project done right.
It ensures that your project’s valuable human resources are appropriately compensated and rewarded for
their contributions.
That’s why all project managers need to invest in developing a comprehensive and detailed Resource
Management Plan.
There are various charts and tools available to guide and support you in creating such a plan, but
whatever template or software you choose, it’s important to have a firm grasp of the key components.
Steps required in Resource Management Planning –
Step 1: Decide Project Team Size
Determine the number of team members needed to complete the project, and for how long.
The duration could be measured in dedicated hours per day or week or an allotted span of weeks or
months.
Step 2: Determine What Expertise is Needed
State how people with the right type of expertise project manager need for project will be acquired
including the costs.
Does organization have the current staff to support project, or will need to invest in contractors for new
hires?
If project requires recruiting contract talent or an addition of staff, whether full or part time, determine
the individual rate of compensation.
Step 3: Identify roles and responsibility
Identify peoples’ roles and responsibilities.
For large projects, create a project organization chart like an organization’s org chart but for project
team.
Also, define how physical resources will be allocated for different roles and responsibilities, and how
those resources will be controlled and accessed so they are available when needed.
Step 4: Conduct a Skills Gap Analysis of the Project Team
Establish team’s development needs.
As technology continues to advance at a rapid pace and collaboration among virtual and on-site team
members becomes more and more common, people often lack the skills required to do their job
effectively.
Doing a thorough skills gap analysis and then securing the required training for team members is crucial
to the success of project
Step 5: Incentivize Project Team Members
Detail how people will be recognized and rewarded for their performance, and when.
As a project manager, your job is to keep your team motivated to deliver the results expected for your
project.
Before starting the project, consider the range of incentives available to motivate performance and
recognize exceptional contributions.
Will you be able to offer individual contributors on your team a financial bonus for exceeding
expectations at incremental benchmarks?
How will your entire team be recognized upon the project’s successful completion?
Conclusion:
By taking care to document and explain every detail of how your project’s resources will be managed,
you’ll be better equipped to meet any challenges that may arise.
That especially applies to people – The Project Team Members you depend on to make your project a
success.

3.(a) Introduction
A Work Breakdown Structure (WBS) is a hierarchical outline of the tasks required to complete a project.
The WBS “break down” the structure of a project into manageable deliverables.
Each deliverable is assigned a task, or series of tasks that can be further broken down into subtasks to
meet the needs of the project.
The advantage of using a WBS as part of project lifecycle management is that is takes large, complex
projects and breaks them into smaller, more manageable tasks that can be assigned to specific people or
teams to deliver.
Concept and Application:
Each task duration is planned in conjunction with its required predecessors and following tasks.
WBS components –
- Task
- Task Owner
- Task Dependency and Predecessors
- Start and Finish Date of Task
- Duration
- Work Estimate
- Task Status
- Gantt Chart
Task:
It is assigned with a number, ID, title and description of each task.
A summary task is any task in a WBS that has subtasks below it.
A subtask is any task below a summary task in a WBS hierarchy.
The bottom level subtasks in a WBS hierarchy are called work tasks or work packages.
It is important to understand that these work tasks are where the work actually occurs.
All summary tasks at upper levels in the WBS hierarchy just serve as headings to organize the project
work.
Some other task type terms are used to describe special task characteristics – Recurring Task, Milestone
task and Split Task.
Task Owner:
Task owner is responsible for completing the task.
With the tasks now laid out, assign them to your project team.
Give each team member the work management tools, resources and authority they need to get the job
done.
Work Estimate:
How many hours/days of work are required to complete the task which includes combining all resources
hours together if working in parallel.
The project management process is implemented as a means of formulating the most accurate estimate
possible.
It also gives the customer or investor a better idea of everything that goes into building the project to
justify the estimate.
Gantt Chart:
Gantt Chart is a visualization of the WBS with tasks represented graphically over time.
It is a popular tool used by project managers to keep tract of progress and ensure that deadlines are met.
It shows the tasks that need to be completed, the order in which they must be completed, and the
duration of each task.
It also shows the resources needed to complete each task, as well as any dependencies that must be taken
into account.
It also ensures that the project is completed on time and within budget.
Conclusion:
WBS makes large project more manageable.
It makes an enormous project seem significantly less daunting since it breaks it up into many smaller
tasks that can be easily managed and performed by smaller teams.
Project Manager everywhere like to use WBS due to many benefits, most notably, improved project
duration and cost estimation.

3.(b) Introduction:
Project management faces many different types of risks and risk categories.
Understanding the various risks help you recognize and mitigate risk for future projects.
Concept and Application:
A risk category is a high level classification of project management risks.
The two overarching risk categories are project level risks and business level risks, which can be break
down into subcategories.
Risk categories account for both internal and external sources of risk.
Project-level Risks: It has the potential to affect results at the project level. Project risks can include
factors related to cost, Schedule and Performance.
Business-level Risks: It has potential to affect the overall operations of business.
Type of Project Risks:
- Financial Risks (Related to Cost)
- Strategic Risks (Related to Schedule)
- Performance Risks (Related to performance)
Financial Risk:
It involves project’s monetary factors.
These might include the rising costs of materials, unrealistic budgets, higher than expected time or labor
requirements, lower than expected sales numbers, or the failure to secure sufficient funding.
Strategic Risks:
It involves the schedule chosen to complete a project.
These might include project management methodology, project planning techniques, daily operations,
company culture, employee satisfaction, and retention rates, project dependencies, or investment in
technology.
The risk you might encounter can vary greatly in the chaos of our cultural environment.
The greatest risks each company faces are the actions of the people in project authority.
Their training and attention to planning a project completely and executing according to the company
processes is the cornerstone for success.
Performance Risks:
It involves the overall project performance.
This might include unclear expectation for deliverables, undefined KPIs, outdated market research or
underperforming product lines.
Some projects have emerging requirements, meaning there is no way to get all requirements at the
beginning of the project because people are still figuring out what they want.
Projects with clear guidelines and requirements will run into fewer performance risks than those without
them.
Conclusion:
Risk can come from financial decisions, project management strategies, project performances, or
external sources.
Risk types have varying consequences based on severity.