What typically follows a project feasibility study?

Following a project feasibility study, the most logical step is to make a decision about whether to proceed with the project. The feasibility study is an analytical tool designed to assess various factors, including economic viability, technical requirements, legal implications, and operational aspects, to determine if the project is viable and worth pursuing.

The outcomes of a feasibility study provide crucial insights that guide stakeholders in making informed decisions. If the study reveals that the project is feasible and aligns with organizational goals, it usually leads to a decision to move forward with planning and execution. Conversely, if the study indicates significant risks or barriers, stakeholders may decide against proceeding.

While team-building exercises, hiring processes, and evaluations of team performance are important aspects of project management, they generally come into play after a project has been approved to ensure that the right structure and personnel are in place for implementation and execution. Thus, the decision point that follows a feasibility study is pivotal and crucial for setting the direction for the project.