Feasibility

What is Feasibility in project management?

Feasibility refers to the process of assessing whether a project or initiative is practical and achievable within the constraints of time, resources, and organizational priorities. The process helps to answer questions like:

  • Can we realistically accomplish this project with the resources available?
  • Does the project align with our institutional goals?
  • Are there potential barriers that could impede success?

A feasibility analysis also typically considers questions such as:

  • Does the budget cover the project’s requirements?
  • Do we have the right people and expertise to execute the project?
  • Is the timeline realistic?
  • Are stakeholders prepared to support and implement the project?

In higher education, conducting a feasibility assessment can save time, resources, and energy by ensuring projects are well-aligned with institutional capacities and goals before they begin. For instance, before launching a new academic program, a feasibility study might explore demand for the program, faculty availability, and alignment of the program with the institution’s academic mission.

What are the benefits of conducting a Feasibility assessment?

A thorough feasibility assessment offers several benefits:

  • Informed Decision-Making: These assessments provide data-driven insights that guide whether a project should proceed, be revised, or be postponed.
  • Efficient Use of Resources: By evaluating feasibility early, individuals and institutions can avoid wasting time and resources on projects or initiatives that may not succeed.
  • Risk Mitigation: Identifying potential challenges and barriers upfront allows individuals and teams to develop strategies to address them.
  • Stakeholder Buy-In: Demonstrating that a project has been carefully evaluated can build confidence among stakeholders and increase their willingness to support the project.
  • Enhanced Planning: A feasibility assessment lays the groundwork for more detailed project planning, ensuring realistic timelines, budgets, and expectations when scoping the project and laying out the project plan.

For example, assessing the feasibility of implementing a new student advising system might reveal that additional training for staff is necessary before rollout, enabling the team to include this in their plan.

Where might you see Feasibility considerations in higher education?

Feasibility assessments are relevant across a wide range of academic and administrative projects. Some examples include:

  • New program development, where feasibility assessments can evaluate market demand, faculty availability, and accreditation requirements.
  • Campus facilities projects, where feasibility studies might examine the costs, environmental impact, and community support for building new facilities or renovating existing ones.
  • Technology implementations, where an assessment might consider technical compatibility, budget constraints, and user training needs before implementing a new enterprise-wide tool.
  • Grant applications, where resource availability and the likelihood of achieving stated goals would be included in the application to funders.

For instance, a feasibility study for an interdisciplinary research initiative might assess whether faculty from different departments have the bandwidth to collaborate effectively and whether funding is available to support the work.

A step-by-step guide to conducting a Feasibility assessment

Here’s a step-by-step guide to evaluating feasibility:

  1. Clearly articulate the goals, deliverables, and boundaries of the project to understand what’s being assessed.
  2. Determine which factors are critical to the project’s success, such as budget, personnel, technology, and alignment with institutional priorities.
  3. Collect information to evaluate each criterion; this might include data on market research, cost estimates, stakeholder input, and resource availability.
  4. Identify potential challenges, such as funding shortfalls, staffing gaps, or competing priorities, and consider how they might be mitigated.
  5. If challenges arise, explore whether adjustments to the project’s scope, timeline, or resources could make the project more feasible.
  6. Based on the analysis, determine whether the project is viable as planned, needs modifications, or should not proceed.
  7. Create a report summarizing findings and recommendations, and share it with key stakeholders for feedback and decision-making.

Reflective questions

  • Have you ever conducted a feasibility assessment for a project? If so, what insights did you gain?
  • What types of projects in your role could benefit from a feasibility study?
  • What challenges do you foresee in assessing feasibility, and how might you address them?
  • How can feasibility assessments improve resource allocation in your department or institution?
  • What’s one small step you could take to incorporate feasibility assessments into your project planning process?

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