What Defines a Feasible Project
The Project Manager’s role starts with filtering potential initiatives to ensure organizational resources are not wasted on unworkable concepts. This initial assessment phase ensures that only projects with a genuine chance of success move forward. The feasibility study is the formal mechanism used to determine if a project idea should be allocated further time and investment, establishing the foundation for all subsequent planning and execution.
Feasibility is a comprehensive evaluation of whether the project should be undertaken, not just if it can be technically completed. A project is feasible when it is viable and sustainable across multiple dimensions, promising a positive return on investment while aligning with the organization’s strategic objectives. This requires the Project Manager to look beyond the initial excitement of an idea and objectively assess its long-term compatibility with the business environment and internal capabilities.
The Preliminary Step: Developing the Business Case
Before investing time into a deep feasibility analysis, the Project Manager must establish the project’s foundational justification through a formal business case. This document is the mandatory precursor to the detailed study, validating the “why” behind the proposed effort. It articulates the problem or opportunity, the proposed solution, and the anticipated benefits.
The business case frames the project’s value proposition, detailing how the solution will generate a return through revenue gains, cost reductions, or improved efficiency. It provides initial, high-level cost estimates and benefit projections that will be refined during the economic analysis. Approval of the business case justifies the expenditure of resources required to conduct the subsequent, resource-intensive feasibility study. Without this solid business justification, the Project Manager cannot proceed to the technical evaluation.
Assessing the Core Feasibility Dimensions
The detailed analysis of a project’s viability is structured around several distinct dimensions, often referred to by the acronym TELOS. This systematic review covers all facets of project delivery and adoption. Each dimension must be evaluated independently, as failure in any single area can lead to the project’s rejection.
Technical Feasibility
Technical feasibility examines whether the proposed solution can be implemented using existing or readily available technology and infrastructure. The Project Manager assesses the organization’s current hardware, software, and systems capabilities to determine if they can support the new requirements without prohibitive upgrades. This analysis includes checking for compatibility issues between the new solution and legacy systems.
The Project Manager must also evaluate the internal technical expertise required to build, implement, and maintain the solution. If the technology demands specialized skills that the current team lacks, the PM determines the cost and practicality of hiring new staff, training existing employees, or outsourcing. A project is technically infeasible if the required technology does not exist, is too expensive, or cannot be operated by the organization’s personnel.
Economic Feasibility
Economic feasibility centers on the financial justification for the project, determining if the anticipated benefits outweigh the projected costs. The Project Manager conducts a detailed Cost-Benefit Analysis (CBA), estimating all development, implementation, and ongoing maintenance costs and comparing them to quantifiable financial gains. This analysis moves beyond the high-level estimates in the business case to provide granular detail.
Financial metrics such as Return on Investment (ROI), Net Present Value (NPV), and the payback period are calculated to demonstrate the project’s financial soundness. These metrics must be compared against the organization’s hurdle rate. If the projected financial returns are too low, too slow to materialize, or the costs are too high, the project is deemed economically unsound.
Legal and Regulatory Feasibility
The Project Manager must thoroughly investigate all laws, regulations, and contractual obligations that could impact the project’s execution or the final deliverable. This includes compliance with industry standards, data privacy laws (like GDPR or HIPAA), and local zoning or environmental regulations. Failure to comply with these external mandates can result in penalties, fines, or project cancellation.
Legal feasibility also involves reviewing existing contracts, licenses, or intellectual property rights that might be infringed upon. Securing necessary permits, licenses, or governmental approvals is part of this assessment, as delays in obtaining these documents can derail the project timeline. A project that cannot meet its legal obligations or faces insurmountable regulatory hurdles is immediately flagged as infeasible.
Operational Feasibility
Operational feasibility assesses how well the proposed solution will integrate into the organization’s existing business processes and whether end-users will accept and utilize the output. The Project Manager evaluates the degree of change required in current workflows and the potential disruption during implementation. A highly disruptive project that requires massive organizational restructuring may be deemed operationally infeasible.
This dimension focuses on stakeholder acceptance and change management requirements. If the new system is complex, difficult to use, or perceived as a threat by employees, its adoption rate will be low. The solution must provide a practical, usable improvement over the current state, ensuring a smooth transition and high utilization.
Scheduling and Resource Feasibility
This dimension determines if the project can be completed within realistic timeframes, given the availability of necessary resources. The Project Manager develops a preliminary project schedule, identifying major milestones and dependencies to assess if the project deadline is achievable. An artificially short deadline can make an otherwise viable project infeasible.
Resource feasibility ensures the availability of all non-human assets, including specialized equipment and materials, when required. It also confirms that necessary human resources, particularly those with specialized skills identified in the technical assessment, can be secured and allocated. If resources are fully committed elsewhere or cannot be acquired in time, the project is not feasible within the established schedule.
Evaluating Project Constraints and Risks
The Project Manager must conduct a detailed analysis of external limitations and potential negative events that could threaten the project’s success. This analysis distinguishes between fixed constraints and risks.
Fixed constraints are non-negotiable boundaries imposed by the client or organization, such as a strict budget cap or a mandated completion date. The Project Manager must determine if the project can be delivered to an acceptable standard while operating within these restrictions. A project that inherently exceeds the maximum budget or deadline is fundamentally constrained and likely infeasible.
Risks are potential threats or opportunities that could impact project objectives. Tools such as a risk register are used to identify potential events, estimate the likelihood of their occurrence, and quantify the potential effect on cost and schedule. External factors, such as market shifts or technological obsolescence, are also considered to gauge the project’s resilience. A project with too many high-impact, unmitigable threats may be deemed too hazardous, leading to a recommendation for termination or deferral.
Synthesizing the Findings: Creating the Feasibility Report
After evaluating all core dimensions and risk factors, the Project Manager compiles the data into a comprehensive feasibility report. This formal document synthesizes complex findings from the technical, economic, legal, operational, and scheduling reviews into a single, cohesive narrative. Its primary purpose is to inform executive decision-makers, providing the necessary context for an informed investment choice.
The report begins with an executive summary that states the project’s purpose and the Project Manager’s final recommendation: Go, No-Go, or Conditional Go. Detailed sections follow, presenting quantitative data (e.g., ROI calculations) and qualitative analysis (e.g., operational integration assessments) for each dimension. The report must also include an analysis of alternatives considered and a dedicated section detailing high-priority risks and proposed mitigation strategies. The entire document must maintain a strictly unbiased perspective.
Making the Final Determination
The Project Manager translates the feasibility report into a clear, actionable recommendation, guiding stakeholders through the final Go/No-Go decision process. This determination is a definitive statement on the project’s overall merit and readiness for execution, presented to the project sponsor and governance body for authorization.
Termination is recommended if the economic return is negative, risks are unacceptably high, or the project violates a fixed legal requirement. Deferral may be recommended if resources are temporarily unavailable. By providing a clear, data-driven path forward, the Project Manager transitions the project from a conceptual idea to an authorized initiative, or definitively closes the door on an unworkable concept.