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Project Lifecycle Processes - Phase 2 - Feasibility Study Phase

The purpose of the Feasibility Studythe Business Sponsor to revalidate its
phase is to confirm the businesscontinued viability;The Feasibility
requirements and benefits of theStudy Manager/Project Manager should
project, identify and select theproduce the Terms of Reference for the
preferred or most advantageous solutionFeasibility Study;The Feasibility Study
and to prepare an Outline Schedule forManager/Project Manager should undertake
the Delivery Stage.Key Players - The keythe Feasibility Study and produce the
players within the Feasibility StudyFeasibility Study Report which should:o
Phase are:the Feasibility Study ManagerRe-iterate the objectives and business
Project Manager who is responsible forrequirements;o Specify the proposed
managing the Feasibility Study Stage;thesolution;o Include a comparative
Business Sponsor who is responsible foranalysis between the proposed solution
signing off the key deliverables;theand other options which were
Sponsor's Representative who isconsidered;The Sponsor's Representative,
responsible for preparing the Fullwith assistance from Finance personnel
Business Case and representing theand the Project Manager, should prepare
Business Sponsor on day-to-day issues anthe Full Business case;The Sponsor's
matters;the Business Sponsor's cost orRepresentative should issue the Full
profit center which is responsible forBusiness Case for review and agreement
providing assistance in the productionto:o The Business Sponsor;o The
of the Full Business case and obtainingappropriate management area;o
the necessary authorisation for theInformation Technology representatives;o
project to progress intoFinance Division representatives;o
Delivery;Process Description &Stakeholders;o Steering Committee
Recommendations The Business Sponsormembers, if appropriate;The Finance
should appoint a Feasibility StudyDivision, with assistance from the
Manager/Project Manager;The FeasibilityBusiness Sponsor should produce the
Study Manager/Project Manager shouldProject Authorisation Form and obtain
plan the Feasibility Study Stage inthe requisite corporate
detail, including the production of aauthorisation;The Business Sponsor
document entitled the Terms of Referenceshould send a copy of the Full Business
for the Requirements DefinitionCase and the signed Project
Phase;The Feasibility Study ManagerAuthorisation Form to the appropriate
Project Manager should create themanagement area to obtain the required
working environment including anyresources and confirm funding for the
necessary office accommodation, projectproject;As in the Initiation Phase, The
filing system and specific managementBusiness Sponsor should be responsible
procedures including time recordingfor continually monitoring the progress
management;As the Feasibility Studyof the Feasibility Study Stage. If at
Phase progresses, the Business Sponsorany time he/she has doubts about the
should collect the information requiredbenefits or risks of the project, or
to develop the benefits within thethat it will support the real business
business case;The Feasibility Studyneeds, it is the responsibility of the
Manager/Project Manager should conductBusiness Sponsor to reconsider the
the Requirements Definition and produceinitiative and, if necessary, terminate
the Requirements Definition Report tothe work.Stephen S Alison is a retired
include:o The business objectives and"bean counter" who spent 26 years in
strategy;o Functional and genericmiddle management positions for major US
requirements;o Data models;o Data flowfinancial institutions in Europe and a
diagrams;o Recommendations;Thefurther 10 years as an adviser
Feasibility Study Manager/Projectconsultant to a number of European
Manager should review the project withfinancial institutions.



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