Many projects require you to conduct a feasibility study, whether it's a new project or the expansion of an existing one. At the conclusion of the study you'll generate a feasibility report that outlines the problem or situation, a plan for tackling it, and the feasibility of carrying out the plan. The report should assess whether the plan is practical in terms of available technology, finances, labor and other resources. Eventually, you have to give a recommendation that explores potential solutions to the defined problem, need or opportunity. The study also justifies why any potential solutions might not be viable.
The executive summary of your feasibility report provides a concise overview of the most essential information regarding the project. Clearly state the problem or opportunity that has been assessed in the study -- typically, the key issue the proposed project seeks to address. Mention any special issues that need to be brought to the stakeholders' attention, such as public sensitivity, time constraints, risk management and/or legal issues. Provide any previous approvals, decisions or agreements applicable to the project. List options recommended for further analysis.
Provide a background on the situation by briefly discussing the problem, need or opportunity that led to the report. Concisely describe the proposed project and its major requirements. Elements of the description may include client requirements, the nature of the problem, possible opportunities and the main characteristics or features relevant to the project being proposed. The purpose of this section is to concentrate on what drives the project, so it should not include discussions of proposed solutions.
Identification of Alternatives and Options
This section of the feasibility report should provide an analysis of whether the plan provides the most appropriate path to see the project through to the end successfully or, if not, offer choices on other methods to use. Describe the options and explain how you narrowed the field of choices by giving your logic and reasoning as to why these alternative plans should be considered. Your guide in selecting these alternative plans will be the data you've garnered and the research you've conducted. Further, offer a comparison of the options and state what considerations disqualify other options.
Recommendations for Further Analysis
Once you have drawn your conclusions, you'll make recommendations. This section should include an analysis of the plan's likelihood of success, how any identified risks should be mitigated and, if applicable, the projected return on investment. Reiterate the most important conclusions that led to the main recommendation, or final option. Typically, you may have to recommend several options for further consideration based on the different possibilities.
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