Course Overview

Feasibility studies play a critical role in evaluating potential projects by analysing their viability, risks, and expected benefits. They help organisations assess different options, weigh advantages and disadvantages, and prioritise the most effective course of action. The outcome is a clear and structured report outlining objectives, findings, and recommendations for the next stage of the project.

A well-prepared feasibility study enables organisations to determine whether an idea or investment is worth committing time, resources, and effort. It provides a strong foundation for project planning and design by identifying potential challenges, opportunities, and operational considerations early in the process.

This Feasibility Study course focuses on developing the essential business and analytical skills required to conduct effective feasibility assessments. Participants will learn how to evaluate project options, identify risks and constraints, and support informed decision-making. The programme also helps uncover strengths and potential challenges at various stages of a project, enabling organisations to plan strategically and increase the likelihood of successful implementation.

Agenda

Day — 1 Planning a Feasibility Study

• Introducing course purpose, goals, and learning objectives
• Understanding what feasibility studies are and why they are important
• Exploring key definitions, principles, and concepts of feasibility studies
• Identifying where feasibility studies fit within the project lifecycle
• Understanding how feasibility studies contribute to creating and protecting value
• Analysing and defining the underlying business need for a project

Day — 2 Considering the Options

• Distinguishing between business needs and wants to ensure objective decision-making
• Conducting structured options analysis to compare alternatives
• Applying creative thinking and problem-solving techniques
• Evaluating associated risks and opportunities for each option

Day — 3 The Risk Assessment

• Understanding the risk management process and its practical application
• Identifying and assessing risks associated with the preferred option
• Identifying key stakeholders and managing their expectations and influence
• Establishing reliable cost estimates for the project
• Determining appropriate contingency provisions to manage uncertainty

Day — 4 The Feasibility Assessment & Evaluation

• Determining the most feasible option based on technical, financial, and strategic criteria
• Applying financial analysis techniques to support decision-making
• Understanding non-discounting evaluation methods
• Using discounting approaches to assess long-term project viability
• Interpreting key investment evaluation measures such as Net Present Value and Internal Rate of Return

Day — 5 Preparing the Report

• Developing a structured and comprehensive feasibility study report
• Applying clear and effective communication principles in reporting
• Leveraging interpersonal relationships to support successful feasibility studies
• Reviewing and analysing real-world feasibility study cases
• Summarising key findings, messages, and learning outcomes

Learning Outcomes

By the end of the Feasibility Studies – Evaluation, Preparation and Analysis programme, participants will be able to:

• Understand the importance and purpose of feasibility studies
• Set up and analyse feasibility studies effectively
• Differentiate between a feasibility study and a business plan
• Identify key elements and types of feasibility studies
• Understand financial modelling within feasibility analysis
• Develop and structure professional feasibility study reports
• Apply interpersonal skills to support effective feasibility study processes
• Evaluate assumptions and apply relevant analytical frameworks
• Communicate findings clearly, objectively, and effectively
• Build feasibility study financial models using Excel
• Perform sensitivity analysis to improve projections and decision-making
• Critically analyse existing feasibility studies to identify strengths and weaknesses

Who Should Attend

This programme is suitable for a wide range of management professionals, particularly:

• Professionals seeking practical project management skills for conducting feasibility studies
• Individuals involved in planning, evaluating, or managing projects
• Professionals responsible for reviewing, analysing, and recommending feasibility studies to senior management
• Decision-makers required to assess the quality and viability of proposed projects