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A feasibility analysis is an in-depth process to determine the factors that will lead a project to success or failure. In the interest of simplicity, I’ve taken the liberty of breaking up this process into five steps for Shanghai companies.
Step 1: Conduct the preliminary analysis. Performing a full-blown feasibility study is time- and resource-consuming, so instead of jumping headfirst into this monstrous assessment, it’s important to test the waters and conduct preliminary analysis. Consider this to be an eligibility qualification before the feasibility study.
Step 2: Create a project scope outline. Now that you have a rudimentary understanding of what you are getting yourself into with this project, it’s time to create a scope outline.
Step 3: Perform your market research. I use the term “market research” since it is a common way of describing this step, however, not all projects have to do with competing with other businesses. Some projects are about improving team performance, trying out a new management method, or maybe in your case implementing new project management software.
Step 4: Calculate the financial cost. We’re nearly there. No matter what kind of project you are proposing, many times it’s the financial cost that sinks the feasibility.
Step 5: Review your research and present your findings to the project stakeholders. The day of reckoning is upon us, and it’s time to evaluate everything you’ve uncovered, compile it all, and present it to the relevant clients or stakeholders.
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Tannet deals with the planning and production of various corporate documents, mainly including business plan, feasibility study report, various contracts, agreements, employee handbook and due diligence report writing services.
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