In this individual exercise you will be comparing 2 different projects. After providing your analysis, you should decide which project should be approved first and why.
To assist you complete this first assignment, you will find herein for Business Case and Project Initiation Documents/Templates AND a Feasibility Template.
It is not required to use all of these templates, but I would expect that you would utilize at least 2 of these templates in completing the Project Valuation/Feasibility Study for the 2 project case study comparison. Remember you are completing a business justification for why you are choosing one project over another (only comparing 2 projects).
As such I would expect that you would have an analysis that would include why one project is more feasible then the other, what is your preference, why you feel its success rate would be greater than the other project. Make sure you include references, table of contents, executive summary...and the 10-12 pages may include the appendix, if desired.
In your submission I would expect that you would begin with an overview of the 2 project scenarios. Choose a couple of the templates provided that would be applicable to both project scenarios and complete the content. Make sure that you, at a minimum, address the following:
• High Level Risk Assessment (where do you see the challenges, probability/severity of consequence (simple grid) for each project Scenario). Which project seems more "risky"?
• Cost/Benefit Analysis: High Level - What are you seeing is the possible overall cost of the project and in particular the benefits. Which project seems to have greater overall benefits?Which one has better investment return? Which one has higher net profit? (make up numbers)
Cost/Benefit analysis:
1. Cost Factors (objective)
2. Objective Benefit Factors
a) Productivity
b) Efficiency
c) Cost/Item
3. Subjective Benefit Factors
a) Customer Rapport
b) Marketplace Position
c) Team Synergy
• Substantiate the Feasibility and Your Choice- when leadership is looking to support a project and choose between which 2 projects, they will want to support the project with the "biggest bang for the buck".Why choose this project? How to achieve goals?
5 steps to determine Project Feasibility:
1. Research Business Drivers
2. Confirm the Alternative Solutions
3. Determine the Feasibility
4. Choose a Preferred Solution
5. Reassess at a Lower Level
• Justification/Rationale/Reasoning/Assumptions - This is an analysis...build your case and support it!
*Note: Utilize means that you reference and use components of the templates so that you understand the kind of content we are looking to compare.
In the beginning when you are completing a project charter you do not have perfect information. As such, it is helpful to put together in a structured manner the kind of information that would allow you to assess the value, pros & cons of the project as is possible.