The Feasibility Study Ends with a Plan, Not A Solution

The feasibility study consists of the following steps: Defining the Problem Brainstorming Possible Solutions Developing Criteria for the Solution Evaluation and Selection of the Solution Assessing the Solution’s Practicality and Benefits Making a Plan It starts with defining the problem.  It ends with a plan. A lot of people make the mistake of ending aContinue reading “The Feasibility Study Ends with a Plan, Not A Solution”

A Feasibility Study Starts with Defining the Problem

An employee has an idea and brings it to her boss.  The boss says “good idea!” and forms a team to do a feasibility study.  The team determines the idea feasible for a new product.  The boss authorises the introduction of the new product.  The product, however, does not sell.  Customers think it’s too expensive. Continue reading “A Feasibility Study Starts with Defining the Problem”