Initiation & Vision
Feasibility Study
MyPMP
QMS Template
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About the Feasibility Study template
A Feasibility Study assesses whether a proposed project is technically achievable, financially viable, and worth pursuing before significant resources are committed. It examines options against defined criteria and gives sponsors an evidence-based recommendation to proceed, revise scope, or stop. Done early, it prevents costly commitments to ideas that cannot deliver.
It's part of My QMS, MyPMP's Quality Management System: fill it in online, personalize it with your name and logo, then export a clean, branded PDF. Your work auto-saves in your browser.
When to use a Feasibility Study
- βΈBefore approving a business case or securing funding for a new initiative
- βΈWhen choosing between two or more delivery options or technical approaches
- βΈFor capital projects where site, planning, or regulatory constraints are unclear
- βΈAt stage-gate reviews where the sponsor needs proof the concept holds up
What a good Feasibility Study includes
- βProblem statement and objectives the project must satisfy
- βOptions considered, including the do-nothing baseline
- βTechnical feasibility: capability, resources, and constraints
- βEconomic and financial analysis: costs, benefits, ROI, and payback
- βLegal, regulatory, and operational considerations
- βRisks, assumptions, and a clear go/no-go recommendation
What's inside this template
The interactive form above gives you:
Purpose / summaryScope / detailsApproach / bodyDeliverables / outcomesNotes & sign-off
Tips & common mistakes
- π‘Always include a do-nothing option as a benchmark; skipping it hides the real cost of change
- π‘Use consistent, weighted criteria to compare options rather than subjective preference
- π‘State assumptions explicitly so the recommendation can be re-tested if conditions change
How it works
- 1. Fill it in β type directly into the fields, tables and sections above.
- 2. Brand it β add your organization name and logo with the Branding button.
- 3. Export β print to PDF, or become a member to white-label and sync across devices.
FAQ
How is a feasibility study different from a business case?οΌ
A feasibility study tests whether an idea can work and which option is best, while a business case justifies the investment for the chosen option with detailed costs, benefits, and delivery plans. The feasibility study typically comes first and feeds the business case.
What types of feasibility should a study cover?οΌ
Most studies assess technical, economic (financial), legal, operational, and schedule feasibility, sometimes summarised as the TELOS framework. The mix depends on the project, but economic and technical feasibility are almost always essential.
Who is responsible for producing a feasibility study?οΌ
It is usually commissioned by the project sponsor and produced by a business analyst, project manager, or subject-matter experts, with input from finance, legal, and technical teams. The sponsor uses its recommendation to make the go/no-go decision.
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