Operational Feasibility study helps to determine if a particular project will succeed or not
Today, before you get any order to begin a project, you need an executive order, especially if such a project could cost millions of dollars. For that executive order to be granted, there needs to be a feasibility study on the said project.
A feasibility study helps to determine if a particular project will succeed or not. It is usually conducted before the actual project begins, including the planning phase. A feasibility study is an essential factor to consider if a project can go forward.
Feasibility study – Essential Points to consider
The feasibility study identifies various aspects of the project, which includes mapping out potential roadblocks, offering alternative solutions, identifying project objectives, human resources requirements, budgets, timeframe, etc. A feasibility study usually assesses areas such as:
- Legality – What are the legal requirements of the project? Is it possible to meet these legal requirements?
- Budget – Is there adequate financial resources to start and complete the project? What is the cost/benefit analysis of the project? Is it sufficient to warrant starting the project?
- Time – What is the likelihood that the project will be completed in the stipulated timeframe?
- Risk – Are there risks associated with undergoing this project? What is the risk-to-reward ratio of the project?
- Technical capability – Does the organization have both technical resources to accomplish the project?
In carrying out a feasibility study, this can be divided into various studies. For instance, you can have a technical feasibility study, economic feasibility study, and operational feasibility. These studies have different requirements that must be fulfilled before starting the project. Today, our focus will be on the operational feasibility study and how you can get it done accurately.
Are you into the production of “things”? Perhaps, your answer would be yes. We naturally don’t call them things; instead, we call them products, services, or systems. Using the term “things” sounds foreign because you can’t just drop them into an area without touching them. They need to be connected to an existing service or business. These “things” are an extension of the organization where they are produced.
In such a case, technical feasibility entails ensuring the product can be built and elegantly integrated into any existing system. Hardly can you deny this aspect when it comes to production or a business.
However, the conversation will change when you decide to integrate that product into a human system. How can you politically and culturally adopt such a product? Will employees embrace it? Will it conflict with or support the work of the IT and product teams? How will the product run? Will your product or IT team support the product?
In a simple word, can the product be operationally feasible? It is the most valid question to ask. A client might look at a product and decide it is sticky and political. Such a client might feel that the product needs to be tangible and advanced for it to get internal support.
Team leader – Our team of an expert would love to work with you?
Client – Can we meet them?
Team Leader – No!
What will be your expression if you are the client?
What is operational feasibility in a nutshell?
It is a measure of how perfectly a proposed system intends to solve the stated problem and leverage the opportunities identified during the scope definition phase. Additionally, it also determines how it will satisfy every requirement identified in its requirement analysis phase.
Operational feasibility depends on the project’s available human resources and determines if the system is usable once the project is developed and implemented. It analyzes the preparedness of the organization to support the proposed system. Unlike the technical and economic feasibility, operational feasibility is quite hard to gauge.
Nevertheless, to determine operational feasibility, you need to understand management’s commitment towards the proposed project. If management were the initiator of operational feasibility, it would likely be accepted and used once completed.
Questions to test operational feasibility
To ensure every project meet the requirement of operational feasibility, here are essential questions to help test operational feasibility.
- Does the current operational mode provide enough response and throughput time?
- Is there timely and accurate information to managers and end-users?
- Does the current mode of operation offer cost-effective information to the business?
- Will there be an increased benefit or a cost reduction?
- Does the current system provide an effective process to safeguard against fraud and breach of data?
- Will the system be used once it is developed?
- What are the manpower problems the system will face?
- Will there be labor objections?
- What are the likely organizational policies and conflicts?
- What are the governmental regulations that might affect the system?
A project might serve the reason for it being designed when the operating and technical characteristics are integrated into the design. Consequently, operational feasibility is an essential part of systems engineering that any organization needs during a project’s planning phase.
Operational feasibility entails utilizing, supporting, and performing necessary program, system, or project tasks. It includes everyone that creates or operates a system. For a project or system to be ascertain operationally feasible, it has to meet specific criteria. These criteria come in the form of questions, which require concrete answers.
Operational feasibility requires an intensive study of the current system. A system is operationally feasible when it can reduce the cost of developing the system without undermining its quality or product. For instance, if you can increase workers’ efficiency in a new company by reducing the working without damaging the product quality, such operation is feasible.
Everyone in the manufacturing industry needs to understand how operational feasibility works to take advantage of it. You can perform an operational feasibility study on both private and governmental organizations since it tends to achieve one fundamental objective.
Assuming after undergoing an operational feasibility study, it doesn’t change the system, product, or end-users don’t understand the program, in that case, the purpose of setting up a feasibility study is defeated. In such a situation, the program or project is considered not feasible.