Page 200 - E2 Integrated Workbook STUDENT 2018

Chapter 14

Initiating

4.1 Initiating a project

There are a number of reasons why a project would be initiated:

 To help meet the company’s long term goals and objectives.

 Process/service enhancement.

 Solve problems identified internally or externally.

 To take advantage of new opportunities.

 Statutory/legal requirement.

4.2 Feasibility

Feasibility studies may be carried out on a number of potential strategies and the aim
of the study is to decide on which proposal to choose.

There are a number of types of feasibility which could be considered, including the
following:

 Technical feasibility – can it be done?

 Social (operational) feasibility – does it fit with current operations?

 Ecological (environmental) feasibility – how does it affect the environment?

 Economic (financial) feasibility – is it worth it?

Illustrations and further practice

Read through Illustration 1 from Chapter 14 of the Study Text.

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