Feasibility Study Quarter

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Feasibility Study Quarter (hereinafter, the Quarter) is the first of four lectures of Operations Quadrivium (hereinafter, the Quadrivium):

The Quadrivium is the first of seven modules of Septem Artes Administrativi, which is a course designed to introduce its learners to general concepts in business administration, management, and organizational behavior.


Outline

The predecessor lecture is Idea Generation Quarter.

Concepts

  1. Feasibility study. In enterprise administration, an assessment of the practical potential of a proposed change. This assessment may consist of several evaluations. The difference between the attained value estimate, which is what the enterprise is going to obtain, and change budget estimate, which is what the enterprise is going to lose, is the primary target of the feasibility study if the proposed change is a project. If the change refers to the enterprise portfolio, another study, portfolio feasibility, is needed. A feasibility study is feasible itself when a business opportunity is its change stimulus. If its change stimulus is a business need, no feasibility study is needed; business analysis is conducted instead.
    • Change. In enterprise administration, the act or instance of becoming different and/or doing business differently.
    • Organizational change. Creation and/or creative alteration of how the organization conducts its overall business and/or what it offers to its stakeholders. The change can include its enterprise portfolio, organizational structure, people, work environment, technology, etc.
    • Business strategy change. Creation and/or creative alternation of a business strategy. This change may include the product that is offered on the market, its scope or features, pricing, presentations, production personnel, and/or way of production usually in order to (a) offer new and/or additional benefits to the customer and/or (b) serve some organizational needs.
    • Planned change. Change activities that are intentional and goal oriented.
    • Unexpected change. Change activities that are unintentional and not necessarily goal oriented.
  2. Change budget estimate. The expected total cost of a set of enterprise efforts undertaken in order to implement a proposed change when the defined scope of work has been completed. In simple words, it is what the enterprise is going to lose as a result of the proposed change implementation. Because the budgets likely depend on the payroll and the payroll depends on work time, schedule feasibility needs to be evaluated before the budget. Because the work time likely depends on the project scope, effort feasibility needs to be evaluated before the work time. Because the project scope definitely depends on the product scope, deliverable feasibility needs to be evaluated first of all.
  3. Attained value estimate. The expected total value that the enterprise is going to obtain when a proposed change is implemented. Because this value shall have several components, several evaluations may be needed. The components may include economic, social, compliance, and configuration ones.
  4. Market analysis.
  5. Portfolio feasibility.
    • Business strategy. The formulation of how an organization is going to compete in a particular business. This formulation may or may not include (a) what products, (c) resulted from what production, (d) at what price, (e) using what presentation, (f) on what market, (g) with what people, (h) with what level of organization's support this organization is going to offer, as well as (i) what financial results and/or competitors' actions would trigger what changes in those decisions. Rarely, a mature organization formulates just one business strategy; usually, there are several business strategies in the organization's enterprise portfolio since both/either different divisions may have their own business strategies and/or different business strategies are developed for different products, regions, and/or segments of customers.
    • Organization. A consciously coordinated social unit, composed of two or more legal entities, that functions on a relatively continuous basis to achieve a common goal or set of goals.
  6. Enterprise portfolio. A collection of all businesses in which a particular organization is.

Methods

  1. Project estimate techniques.
  • Idea evaluation. The process of creative behavior involving the evaluation of potential solutions to problems to identify the best one.

Instruments

Practices

The successor lecture is Business Modeling Quarter.

Materials

Recorded audio

Recorded video

Live sessions

Texts and graphics

See also