Feasibility study for adding a new product line
Business Finance
prepare 2 emails from discussions in class. You will select one project for both emails. The project selected for Email 1 – Feasibility Report will be used in Email 2- Progress/Status Report
You will use the following headings for both documents:
TO:
FROM:
SUBJECT:
Email 1: Feasibility Report (Chapter 12)
A feasibility report evaluates one or more potential action steps on a project and recommends how the organization should proceed. It helps to answer questions about the feasibility of doing the project.
Select a project for a make-believe company and write a feasibility report email for it. It can be any type of project such as building a playground in a neighborhood, purchasing or renting space for a business, adding a new product line, etc.
The information below is a guide to ensure you have thought about the different aspects of the project. You do not need to use the sub-headings in your email.
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- Introduction – briefly define the problem and explain its consequences; explain why it is important to consider the alternatives you will be discussing. Briefly show the audience you have approached this problem methodically.
- Budget – develop a budget for the project.
- Due Date – project is to be completed by June 1, 2019.
- Criteria – introduce the standards you used to evaluate alternative courses of action.
- Will the course of action really do what’s wanted?
- Can we implement it?
- Will implementation fit within time constraints?
- Can we afford it?
Explaining your criteria is especially important if your recommendations are likely to be controversial.
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- Possible solutions – provide a detailed explanation of each solution you considered. Set this up in a Pros and Cons section. See example below:
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Option 1 |
Option 2 |
|
Pro X X X |
Pro X X X |
|
Con X X X |
Con X X X |
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- Evaluation of the solutions – recommend outlining your proposed solutions from a Pro/Con perspective for each solution.
- Recommendations – describe the solution that best fits the criteria provided earlier.
- Length
- The length of your email will depend on the type project you have decided to do.
- email 2
- Instructions: Based on the project in Email 1, you are the team leader of a project that is due on June 1, 2019. You have 5 objectives to complete to accomplish the project. Your team has not accomplished at least two of goals for the project. You are writing an email to your manager explaining what has happened and the steps you are going to take to correct the problem. 1. Determine 5 objectives of the project (things you need to do to accomplish the project by June 1, 2019. 2. You will determine how your team has not met the objectives of the project, explaining what happened. Do not blame any of your team members specifically, for the objectives not being met. 3. Outline the steps you are going to take to get the project back on track. There is no set length for the email. Your Manager’s name is Eugene Ogden.
