Jul
06

Simple Steps to Determine Project Feasibility

By admin

Before starting on a project, you need to be certain that there is a good chance it will be successful. Jake the relevant steps to find out whether a project is appropriately timed, feasible, and worthwhile before going ahead with it.

Timing It Right
However promising and desirable a project may seem, always carefully examine whether it is the right time to initiate it. Take into account other projects that have already started. Some organizations have so many projects in place that it is not possible for them all to succeed, so you may have to consider postponing the new project or curtailing those that are unlikely to produce valuable results. Since all projects require access to limited or even scarce resources, it is vital that each has a clear reason for existing and that now is definitely the right time for it to happen.

Identifying Driving Resources
Every project is driven by the needs of the organization. The stronger these driving forces, the more likely the project is to succeed. If, for example, a project involves winning back lost customers, the driving force is very strong. To create a list of driving forces, or reasons why your project should go ahead, decide which business concerns the project will have an impact on, and then compare your project with other projects. For example, if there is a driving force behind two projects to increase sales, then the one that, say, doubles sales is more likely to succeed.

Questions to Ask Yourself
- Are there any ongoing projects with a higher priority than my own that are taking up key resources?
- Are my project goals in line with the long-term objectives of my organization?
- How will the outcome of the project affect the performance of the organization?
- Could this project damage the chances of another project being successful?

Identifying Resisting Forces
There are always reasons why projects may not be completed. Such forces include people’s resistance to change, the weight of the current workload, lack of information or resources, or a dearth of people with the necessary skills. Identify these resisting forces early on so that you can overcome them, or change the timing of the project. A strong resisting force emerges in organizations that frequently initiate projects to change the way people carry out their jobs but fail to see the projects through. If people view a project as simply another management initiative, it will take great skill to motivate them to make it happen.

Seeking expert advice
Ask a key team member with technical expertise to help you identify reasons why your project may not be successful. They may be able to pinpoint flaws that you had not previously considered.

Predicting Success
A useful technique, known as forcefield analysis, will help you to decide whether the driving forces outweigh the resisting forces, and, consequently, whether the project has a good chance of success. By creating such an analysis, you will be able to see at a glance whether the balance is weighted toward success or failure. To assess the relative impact of each force, remember that drivers range from “one,” a weak driver, to “five,” an essential need. “Minus one” describes a resisting force that is not much of a threat to the success of the project, while “minus five” shows a force that is very strong, and that, unless you can minimize its impact, is likely to hinder you in achieving Strong    the desired project results.

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