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