Creating an Educational Technology Feasibility Study
A thorough feasibility analysis provides necessary information in making
decisions concerning an educational technology project and much of what is
needed in developing a business plan. The following outline will help the
project team capture and examine the variables that are necessary in making an
informed decision concerning the investment of time and resources.
The details in a feasibility study for a given project are unique, depending
upon the project team and objectives. One of the most important aspects through
the process is the level of consideration and care that go into communication.
This includes messages that are sent and received, and those that are delivered
to dispersed teams, individual employees, and stakeholders.
Below is a list of feasibility study elements, followed by a brief
description of each.
Study Elements
- Executive
Summary
- Introduction
- Scope
- Terms and
Acronyms
- Project /
Concept Overview
- Description
of Objectives, Products, and Services
- Assumptions
- Consequences
and Risks
- Alternatives
- Technology
Considerations
- Product and
Service Market Analysis
- Marketing
Strategy
- Talent Development and Training
- Staffing
and Organization
- Timeline
- Benefits
- Financial
Projections
- Findings
and Recommendations
Element Descriptions
1. Executive Summary
The executive summary provides an overview of the content contained in the
feasibility study document. This section is written after the rest of the
document is completed.
2. Introduction
Describes the reasons for the concept or project and also the intended outcomes
from the feasibility study.
3. Scope
Describes the scope of the feasibility study as it relates to the project,
stakeholders, and those who it will impact. This is sometimes captured in the
introduction.
4. Terms and Acronyms
Provides a list of the terms and acronyms used in this document and the
definition of each. Working with team members and suppliers who are
at-a-distance requires this section to be comprehensive and to provide a clear
and common understanding. This is particularly important when members are
internationally dispersed or have different cultural backgrounds.
5. Project / Concept Overview
Offers a brief overview of the proposed project or concept. This will serve as
a point of reference for the remainder of the document.
6. Description of Objectives, Products and Services
This section provides a more detailed description of the objectives, products
and/or services which are being considered as part of the feasibility study.
The purpose of this section is to provide detailed descriptions of exactly what
the organization is considering so this information can be applied to the
remaining sections of the document.
7. Assumptions
Determine the project assumptions, such as operational life of the proposed
system, maintenance, training, sustainability, and scalability.
8. Consequences and Risks
Includes consequences of not taking action, what delays and risks might occur
during work, and what delays and risks can be tolerated.
9. Alternatives
Describes an alternative(s) to the suggested system and states the reasons why
the alternative system(s) was (were) not selected.
10. Technology Considerations
This section should explain any considerations the organization must make with
regards to technology, including hardware, software, infrastructure, skills,
and interfaces. Technology may be developed or implemented internally or
contracted through a service provider. This must consider the needs of the
virtual organization and technologies that facilitate virtual collaboration and
teamwork.
11. Market Analysis
This section provides and assessment of the existing domestic and overseas
markets. It will describe who makes up the target market, who the competitors
are, how products and services will be distributed, why users might select the
products and services and how the market may change in the future.
12. Marketing Strategy
This section provides an analysis of the market and a description of the
marketing process. This includes considerations such as a global competitor analysis,
differentiating the organization and outcomes from competitors, determining who
the marketing will target, and what types of marketing will be used.
13. Talent Development and Training
This is usually not included as a dedicated element in a traditional
feasibility study, but in the instance of virtual undertaking it is a crucial
component. Realistically, most leaders and team members are inadequately
prepared for at-a-distance operations and this is a common reason why many
virtual efforts meet with unexpected difficulties, cost overruns, or failure.
14. Staffing and Organization
This examines the people who are needed to implement an idea, including skills,
backgrounds, and knowledge. At this point it is also necessary to consider the
international nature of the undertaking, including differences in time zones,
languages, and cultures. There will also need to be a plan for integrating
additional staff and responsibilities into existing organization structures and
staff.
15. Timeline
This section will provide an overview schedule, which serves as a guideline and
includes major milestones and estimated time frames.
16. Benefits
It is important that the feasibility study captures the most important outcomes
of the products and/or services that are being considered as well as how they
may benefit the organization, workforce, end-users, and clients.
17. Financial Projections
This section provides a description of start-up costs, operating costs, revenue
projections and profitability.
18. Outcomes and Recommendations
This section will summarize the outcomes of the feasibility study and explain
what course of action is recommended. This section may include advantages and
disadvantages of doing the project and suggestion to enhance project success.
Every feasibility study has its own character and should be formatted
accordingly. For other ideas on performing a feasibility study, there are many
good web-based resources such as the
Together Works
discussion,
HUD
template and
Wikipedia
information.
Reflection Point - An absolute can only be given in an intuition, while
all the rest has to do with analysis. ~Henri Bergson
