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