No matter what the project you are thinking about beginning, the first thing you should ask yourself is if the project is feasible. In the high-stakes world of business, this burden falls upon the shoulders of the project manager. In an article for Project Smart, Kenneth Darter elaborates on how to assess the project feasibility.
The first step is to conduct a high-level assessment of the project in order to uncover how achievable it truly is. If the project is going to pose too much risk or it simply does not seem plausible that it can be completed, the project should be shelved in order to avoid any major losses. The initial assessment of the project should determine three important aspects: Are the resources available, is the organization going to fully support the project, and is the timeline itself achievable?
If the project is determined feasible by the initial test, it is time to get down into the details and decide how the project needs will be met. This is the time to go over the scope and ensure that everything is aligning well. Additionally, this is the time to decipher how much risk the organization is willing to take on and how invested in the project they are. The final check for this stage is to make certain that even after the schedule is laid out, the timeline is still going to work.
The last step in determining project feasibility is to assess the resources, including the team. The people who devote their time to this project are the most valuable asset in the project’s success, because it is the people who will make the project successful. Evaluating the people at this stage involves assessing their individual capabilities and responsibilities and ensuring that they can handle this.
Going through this process will not only determine if the project is feasible, but it will put your project on the fast track to success. You can read the original article here: https://www.projectsmart.co.uk/but-is-it-feasible-how-to-confidently-assess-project-feasibility.php
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