| The purpose of the Feasibility Study phase is | | | | Sponsor to revalidate its continued |
| to confirm the business requirements and | | | | viability;The Feasibility Study Manager |
| benefits of the project, identify and select | | | | Project Manager should produce the Terms of |
| the preferred or most advantageous solution | | | | Reference for the Feasibility Study;The |
| and to prepare an Outline Schedule for the | | | | Feasibility Study Manager/Project Manager |
| Delivery Stage.Key Players - The key players | | | | should undertake the Feasibility Study and |
| within the Feasibility Study Phase are:the | | | | produce the Feasibility Study Report which |
| Feasibility Study Manager/Project Manager who | | | | should:o Re-iterate the objectives and |
| is responsible for managing the Feasibility | | | | business requirements;o Specify the proposed |
| Study Stage;the Business Sponsor who is | | | | solution;o Include a comparative analysis |
| responsible for signing off the key | | | | between the proposed solution and other |
| deliverables;the Sponsor's Representative who | | | | options which were considered;The Sponsor's |
| is responsible for preparing the Full | | | | Representative, with assistance from Finance |
| Business Case and representing the Business | | | | personnel and the Project Manager, should |
| Sponsor on day-to-day issues an matters;the | | | | prepare the Full Business case;The Sponsor's |
| Business Sponsor's cost or profit center | | | | Representative should issue the Full Business |
| which is responsible for providing assistance | | | | Case for review and agreement to:o The |
| in the production of the Full Business case | | | | Business Sponsor;o The appropriate management |
| and obtaining the necessary authorisation for | | | | area;o Information Technology |
| the project to progress into Delivery;Process | | | | representatives;o Finance Division |
| Description & Recommendations The Business | | | | representatives;o Stakeholders;o Steering |
| Sponsor should appoint a Feasibility Study | | | | Committee members, if appropriate;The Finance |
| Manager/Project Manager;The Feasibility Study | | | | Division, with assistance from the Business |
| Manager/Project Manager should plan the | | | | Sponsor should produce the Project |
| Feasibility Study Stage in detail, including | | | | Authorisation Form and obtain the requisite |
| the production of a document entitled the | | | | corporate authorisation;The Business Sponsor |
| Terms of Reference for the Requirements | | | | should send a copy of the Full Business Case |
| Definition Phase;The Feasibility Study | | | | and the signed Project Authorisation Form to |
| Manager/Project Manager should create the | | | | the appropriate management area to obtain the |
| working environment including any necessary | | | | required resources and confirm funding for |
| office accommodation, project filing system | | | | the project;As in the Initiation Phase, The |
| and specific management procedures including | | | | Business Sponsor should be responsible for |
| time recording management;As the Feasibility | | | | continually monitoring the progress of the |
| Study Phase progresses, the Business Sponsor | | | | Feasibility Study Stage. If at any time he |
| should collect the information required to | | | | she has doubts about the benefits or risks of |
| develop the benefits within the business | | | | the project, or that it will support the real |
| case;The Feasibility Study Manager/Project | | | | business needs, it is the responsibility of |
| Manager should conduct the Requirements | | | | the Business Sponsor to reconsider the |
| Definition and produce the Requirements | | | | initiative and, if necessary, terminate the |
| Definition Report to include:o The business | | | | work.Stephen S Alison is a retired "bean |
| objectives and strategy;o Functional and | | | | counter" who spent 26 years in middle |
| generic requirements;o Data models;o Data | | | | management positions for major US financial |
| flow diagrams;o Recommendations;The | | | | institutions in Europe and a further 10 years |
| Feasibility Study Manager/Project Manager | | | | as an adviser/consultant to a number of |
| should review the project with the Business | | | | European financial institutions. |