Feasibility Studies and Business Case Analyses
Feasibility Studies and Business Case Analyses are similar in that they provide information to organizational leaders to enable them to make informed decisions to move forward on a new initiative or to proceed with an existing project.
Feasibility Studies typically focus on a variety of factors including political, regulatory, demographic, geographic, socio-economic, etc. in nature. A Feasibility Study usually results in a "GO / NO-GO" recommendation.
A Business Case Analysis (BCA) focuses more on an economic justification of an initiative or project. The BCA should, at minimum, contain a description of the objectives, an analysis of alternatives, the anticipated impact in terms of performance improvement or dollar savings of each alternative, and a cost-benefit assessment. BCA's should be appropriately scaled to the size of the project or potential long term impact.
Feasibility Studies and BCAs are frequently used as a preliminary step for procurements to help leadership decide the most appropriate way to proceed. PME collects a variety of data (both quantitative and qualitative) from multiple sources for studies such as these. PME may also benchmark against other similar organizations or functions as a point of comparison for the analysis. PME personnel will interface with our clients as we develop criteria and associated thresholds which will set a foundation for the decision-making process.
