A feasibility study is designed to establish whether a project or initiative is worth the investment in time and money needed to get it off the ground.
Of course this includes the cost of developing the initiative, but it also looks at the availability of funding, both to initiate the project and to keep it going.
However, the feasibility study also looks at the evidence of need, potential take up and constraints such as the capacity of buildings, staff and the community.
Perspectives on the feasibility of a project will vary, and whilst an organisation can look at issues such as finance and income projections, a feasibility study also measures community engagement, risk and provides options for delivery of the project perhaps with limited funding or staged development.
Organisations often outsource feasibility studies to external consultancies. However, where organisations are brave enough to ‘Go it alone’, the process is valuable for the organisation as it gives ownership of the project and ensures that the organisation embarks on the project with its eyes open and aware of the risks.
- Understand the principles of feasibility studies
- Be able to complete a cash flow and financial forecast as part of the feasibility study process
- Understand risk and be able to undertake a risk assessment
- Understand the principles of an options appraisal
- Conduct a Community consultation
- Have the knowledge to provide a comprehensive funding analysis
- Be able to calculate projected income through funding and trading
- Understand the factors both internal and external that impact on the feasibility of a project
- Have the knowledge of the components of a feasibility study
- Have a grasp of project costs, both direct costs and core costs
- Be able to identify appropriate organisational structures and management structures which promote the feasibility of a project
Who the course is for:
Individuals or groups wishing to complete a feasibility study on behalf of their organisation.
Development workers and voluntary sector advisers wish to support individuals and groups who wish to embark on a feasibility study
One day course 9.30am – 3.30pm
Interested in this course? Great! Please contact us