Feasibility Study Results
Feasibility Study Results are the aggregated outcomes that emerge from conducting a feasibility analysis within the context of Business Analysis. These results are compiled into a format conducive to executive review and decision-making.
Components of Feasibility Study Results
The key components of the Feasibility Study Results are as follows:
Summary of Outcomes
The results encapsulate the key takeaways from the feasibility analysis. These could involve financial metrics, technical capabilities, legal implications, or any other criteria relevant to the feasibility of the potential project or solution.
Communication Package
The summarized outcomes are assembled into a package, often adhering to an organizational standard or template, aimed to facilitate executive review. This package essentially serves as a decision support tool.
Recommended Option
The package generally contains a recommended solution based on the findings of the feasibility analysis. This recommendation is typically backed by substantial data and analysis.
Information on Viable Options
While a recommended option is part of the package, it's crucial that information about all viable options is included. This ensures that decision-makers have a holistic view of the alternatives and can make an informed decision even if they disagree with the recommended choice.
Role in Decision Making
In Business Case
The Feasibility Study Results are often included in the business case. They provide foundational information that decision-makers can use to determine whether a portfolio component, program, or project should be initiated.
Solution Options Analysis
Decision-makers can glean insights about the various solution options that have been analyzed. Each of these solutions should be presented as a viable option, thereby offering a range of choices.
Supporting Recommendations
The Feasibility Study Results not only offer choices but also support the reasoning behind the recommended solution option. This serves to justify why a particular option is presented as the most viable.
Feasibility Study Results play a vital role in facilitating organizational decision-making. They offer a comprehensive view of the findings from the feasibility analysis, encapsulated in a format that aids in executive review. These results also provide the analytical underpinning for the recommended solution, while still offering insights into other viable alternatives. This ensures that decision-makers are well-equipped to make an informed choice concerning project initiation.