Project Feasibility Study x Project Plan and Execution: Understanding the Frontiers

In this podcast, Ricardo explains that an Analysis of Feasibility of a Project should be seen as a project by itself, with all the characteristics of a project, having a Project Charter, a schedule, a WBS etc. The analysis may demonstrate that the project under study is not feasible, but that does not mean that the feasibility study was a failure. Understand the reason.

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Episode transcript

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Hello everybody welcome to the five minutes PM podcast. Today, you want to share with you some comments around the Feasibility Study a lot of people has a misperception around this topic and they think that when I do a feasibility study, the, the result must be, and yes or a go forward to be successful. They relate that the feasibility study with the customer, one of the Project of the product or of the service, that the Feasibility is a study.

It's not the case. It's very important to understand that the Feasibility Study it's one project and the product of this project is a Study. It will require a sources. It will require a time. It will require people. Study a lot of stuff just to make sure that you have a reasonable approach. And if your study concludes that it's not viable, it's not good to undertake the project to build the product.

It's this still a great project of yours, the ability Study or Feasibility Study, it's very important that we understand this aspect. It's two different approaches and you do need to force them. Feasibility Study to give a yes or as an answer to be successful. It's great to have a know, if they do is based on the solid conclusion, because this is, should we do not undertake this? Project it's not a good way to go.

It's not a good way. If you will lose money, you lose time. You're not reach the targets you want. So we are very, very important that we, you understand clearly this decides, or a lot of people think that feasibility study being successful means that they are doing the right job. If we can not successful with sane, do not. You do. Then they are not doing the right thing. So you need to understand that you need to go clear.

You need to go sharp. You need to do a reliable feasibility study. And we, you need to address this lack of Project the conclusion we'll be like gait. It's a yes or a note. If it's a, yes, this will generate a pros, a charter, a business case, whatever to undertake the Project. If the answer is know, this will become a great lessons, learned that for your future and to be used in future projects. I hope you enjoyed this podcast and see you next week with another five minutes BM Podcast.

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