CHAPTER 5
Feasibility Analysis
During the life of any project, there is a point where the logic of the project is challenged. Successfully passing this point (or gate) is a signal for going onto the next step in the process. This step is called feasibility analysis.
Although important as the feasibility analysis step is, it is fraught with uncertainty as the data gathered to make decisions is usually approximated and quite preliminary. Engineers in particular used to refer to this point as the “back of an envelope” check. By analogy, accountants will utilize a model in the form of a trial balance before committing the numbers to public scrutiny.
As apparent as this seems, the step is repeatedly ignored or done in a peripheral manner. ...
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