You are the project manager of GHT project.
You have initiated the project and conducted the feasibility study.
What result would you get after conducting feasibility study? Each correct answer represents a complete solution.
(Choose two.)
Click on the arrows to vote for the correct answer
A. B. C. D.AD.
The completed feasibility study results should include a cost/benefit analysis report that: -> Provides the results of criteria analyzed (e.g., costs, benefits, risk, resources required and organizational impact) -> Recommends one of the alternatives and a course of action Incorrect Answers: B, C: Project management plan and risk response plan are the results of plan project management and plan risk response, respectively.
They are not the result of feasibility study.
The feasibility study is conducted to evaluate the practicality of a proposed project or system. It examines the strengths, weaknesses, opportunities, and threats of the project, considering its technical, economic, operational, and legal aspects. The feasibility study aims to identify whether the project is viable, and if so, how it can be carried out successfully.
The project manager of the GHT project, after conducting the feasibility study, would get the following results:
D. Results of criteria analyzed, like costs, benefits, risk, resources required, and organizational impact: The feasibility study analyzes the project's requirements and constraints, including its costs, benefits, risks, resources required, and organizational impact. The results of this analysis provide the project manager with a clear understanding of the project's feasibility and viability.
A. Recommend alternatives and course of action: Based on the results of the feasibility study, the project manager can recommend alternative approaches and courses of action to implement the project successfully. For example, if the feasibility study reveals that the project's cost is higher than expected, the project manager can recommend alternative cost-cutting measures, such as reducing the scope, changing the implementation approach, or using different technologies.
Therefore, options A and D are correct answers.
C. Project management plan: The project management plan is developed after the feasibility study and outlines how the project will be executed, monitored, and controlled. While the feasibility study provides valuable inputs for the project management plan, it is not a direct result of the feasibility study.
B. Risk response plan: The risk response plan is developed as part of the risk management process, which is a subset of the project management plan. While the feasibility study identifies the project's risks, it is not responsible for developing a risk response plan.