Feasibility studies
"Those who do not do their homework do not graduate."Bryce's Law
In its simplest form, a Feasibility Study represents a definition of a problem or opportunity to be studied, an analysis of the current mode of operation, a definition of requirements, an evaluation of alternatives, and an agreed upon course of action. As such, the activities for preparing a Feasibility Study are generic in nature and can be applied to any type of project, start up, existing, or any other project.

Indigo int. feasibility studies are done through the following aspects:
1. The Business/project Scope:
This involves the definition of the business problem and/or opportunity to be addressed. The scope should be definitive and to the point, because it forms the basis of all analysis that is done on the business or project.

2. The Current Analysis:
This involves the analysis done to define and understand the current manner in which processes and systems work at the time when the analysis is being carried out for the set project scope. Also, the strengths and weaknesses of the current analysis are identified to be reinforced or built on, while the weaknesses and threats are identified for mitigation purposes.

3. The Approach:
It represents the recommended solution or course of action to that lead to determining the right course of action for a given project. Here, various alternatives are considered along with an explanation or justification as to why the preferred solution was selected and justification for dropping some course of actions.
4. Evaluation:
It entails the examination of the cost effectiveness of the selected approach. This begins with an analysis of the estimated total cost of the project, in addition to the recommended solutions; other alternatives are estimated in order to offer an economic comparison. After the total cost of the project has been calculated, a cost and evaluation summary is prepared which includes such things as a cost/benefit analysis, return on investment, etc.

5. Review:
At this stage all of the preceding elements are then assembled into a Feasibility Study and a formal review is conducted with all parties involved. The review serves two purposes: to substantiate the thoroughness and accuracy of the Feasibility Study, and to make a decision; either approve it, reject it, or ask that it be revised before making a final decision.

For more information about our feasibility study service, please contact Indigo Int. Head Offices.
 

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