7.7 Feasibility Reports
A feasibility report studies a situation (for example, a problem or opportunity) and a plan for doing something about it, and then determines whether that plan is “feasible”—whether it is practical in terms of current technology, economics, time frame, social needs and preferences, and so on. The feasibility report answers the question “Should we implement Plan X?” by stating “yes,” “no,” or sometimes a “maybe” or “under certain conditions.” Not only does it indicate whether the idea is feasible, it also provides the data and the reasoning behind that determination; conversely, it might outline the reasons why the idea cannot or should not be implemented, or what obstacles must be overcome before the idea can become feasible. Typical questions addressed in these reports include
- Is it possible? Can this be done within the allotted budget, time frame, legal and regulatory conditions, and technical capabilities?
- Is it financially viable? Even if it falls within our budget, should we do it? Will it have long term benefits that outweigh costs? Is there a less expensive or financially risky way to achieving the same result? How does it compare to the cost of doing nothing about this situation?
- Will it be accepted by the community? Will people be in favor of this idea? Will anyone be opposed to it? How much public support is necessary to make this successful? (What kind of stakeholder consultation might be necessary to determine this?)
The investigator will research each solution that the analysis recommended and present the economic (how much will the solution cost), structural (how will the solution fit into the existing physical structure of the company), and operational (how will the solution fit into the existing operation of the company) feasibility of each recommendation. The investigator will rank these according to his/her priority, but presenting the feasibility of all recommendations, giving the pros and cons of each recommendation. This gives the decision makers a choice to choose the solution they believe is right for the company.
Elements of a Basic Feasibility Report
Below are the seven key elements of a feasibility report:
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- Introduction: You need to persuade the decision maker to even consider any sort of alternative. You need to convince them to even read your report first. Tell them what they will gain personally or as an organization by considering your work.
This will allow you to make practical and logical decisions. You can present the criteria in your feasibility report in one of two ways. First, you can separate the criteria into its own section. This is best when you have a extensive report and you need to go in-depth with the explanation. Second, you can incorporate the criteria throughout your report as the criteria become relevant. However, it is important to realize that whichever strategy you chose make sure that the criteria is introduced early in the report. It is also very important to