Feasibility study of the feasibility of the project. Feasibility study of the project, differences from the business plan. A feasibility study is drawn up, if it is necessary to prove why it is necessary to purchase any equipment, select

The heads of the company responsible for business development are at the stage of project initiation. They need to prepare for an effective start. First and foremost, this requires gaining recognition of the need for investment. Even before reaching potential investors, this is achieved through a sequence of prepared events from the presentation of the project to its customer to the protection of the business plan. In this row, a special place is occupied by the feasibility study of the proposed investments.

Place of feasibility study

Depending on the established tradition, either the development director is responsible for the preparation and submission of the feasibility study, or Technical Director, and sometimes a future curator is involved in this task. Let us immediately delimit ourselves from such a form as technical economic justification construction, which is a section design and estimate documentation... In this article, we consider the universal aspect of the feasibility study as a stage of the initiation stage, which, in turn, consists of three parts.

Making a decision on the implementation of the project.
Determination of the project task as a control object.
Organizational support for the launch.

The first part of the initiation begins with the formulation and presentation to the customer initiative proposal on the project. Perhaps the investment initiative arose at a meeting of the session strategic planning and entered the strategic action plan long before the start. In any case, such a presentation is entrusted to the initiator of the idea.

Further, he also develops the concept of the project, on the basis of which he is instructed to prepare a feasibility study. The financial and economic section of the document is prepared by financial departments, and the development of a feasibility study in the technical part refers to the production and technical services of the enterprise management.

Stages of project initiation

The concept and the feasibility study are included in the business plan as its sections. The first part of the initiation ends with a decision on the implementation of the project by the top management of the company, the customer. After the decision to launch, a curator is appointed by a separate order. For a better understanding of the subject, we should distinguish a feasibility study from an investment memorandum and from a business plan as such.

The fact is that the feasibility study of the investment project serves the internal goals of the company, while the investment memorandum is a document for external use... The enterprise does not always have sufficient own funds for investments, his management enters the market in search of investors who are ready to consider the potential of the project to their advantage. The investment memorandum is focused on the values of investors and aims to attract them.

A good business plan is a true work of art in business activities. The substantiation in it of marketing, technical, financial, economic and personnel aspects of the upcoming investment project is deep and extensive. At the same time, the feasibility study reflects the information and arguments in favor of the project, based on aggregated calculations in the economic and technical areas of its key business idea.

Feasibility study structure

The structure of the feasibility study is formed taking into account the scale of the project. There is no doubt that the need for a detailed feasibility study does not always arise. For this, the level of the project and the degree of its uniqueness should indicate the high labor intensity of design research, the multifactorial nature of the implementation and the economic complexity of obtaining financial results... The detailed feasibility study in the universal version has the following structure of sections.

General information about the activities of the company. Historical background, types of activities, place in the market, technological equipment (uniqueness and modernity of equipment), etc.
Brief analysis of the market and target audience of product consumers.
Issues of interaction with the close and distant environment of the investment object (territorial location of the object, social significance, interaction with society, authorities on environmental issues, tax revenues, social security).
The essence of the technical and technological idea of the project. Describes how you intend to solve technical tasks, and what are the advantages of their results.
Description of organizational and production structures companies and issues of integration of the investment object into them.
A brief outline of the requirements for the project resources: financial, labor and material.
Aggregated calculations of the production and total unit cost of a product based on the results of the project.
Calculation of the profitability and profitability of the project and production of products at the investment object.
Final calculations for investment efficiency (NPV, IRR, payback period, etc.).
Rough analysis of the anticipated risks of the project.
Initial environmental analysis of the proposed investment.
Conclusion substantiating the conclusions about the attractiveness of the project from market and financial and economic positions. Implementation recommendations.

The share of projects with detailed business plan, in many companies it is small. A feasibility study is used much more often, and especially in cases when it is not planned to attract external investors for investments. The economic return of the investments made largely depends on how well the justification is carried out. Therefore, as a conclusion, I emphasize that the customer, curator and PM should always remember about this stage justification. An informed decision can remove up to half possible risks and improve the quality project activities generally.

It does not cover marketing research. The business case usually contains a detailed description of technologies and equipment, as well as the reasons for their choice.

When drawing up a business case, it is necessary to observe a certain one. It starts with initial data, information about the market sector. Then the existing opportunities for the development of activities, sources of raw materials, material resources for expanding the business, the amount of capital costs required to achieve the goal are described, production plan, financial policy, as well as general information about the project.

Thus, the economic rationale contains a description of the industry where the enterprise operates, the type of input products, the price level for it. Financial part of this document attraction of borrowed funds, sources of their coverage. Calculations are given in tables that reflect the cash flow.

When preparing a business case, it is necessary to study current position enterprises, their place in the market, technologies and equipment used. In addition, it is necessary to determine ways to increase the company's profitability and business development, predict the level of profitability that can be achieved during the implementation of the project, study the necessary technical data, and analyze the level of training of personnel. You will also need to draw up a project implementation plan, cost estimate and income plan Money and also give a general economic assessment attachments .

A business case is also called a financial and economic assessment, which is a form of impact assessment. It is used to be able to assess the changes in all net cash flows that arise as a result of the implementation of methods state regulation, establishing regulatory legal documentation, corporate programs, which are aimed at changes in the economic and social structure.

Instructions

Introduce changes to technical regulation standards, and also change industry norms, introduce various technical regulations. It will help you change and redistribute the benefits, costs, risks of the enterprise.

Conduct a forecast of changes in all existing factors (benefits, costs) at the design stage of a change in technical regulation standards. Evaluate the financial and economic result of the implementation of these norms, ensure the optimization of costs for the implementation of the norms.

Adjust the direction for the standards development process and provide simulations of the impact of all standards that are being developed on the position of the enterprise and its industries. Create a plan for better communication of software requirements different structures technical regulation.

Spend necessary calculations in the course of forecasting economic analysis associated with the transition to the action of all the necessary changes in normative document, including: the size of revenues, budget expenditures, costs of economic entities, costs of society, tax contributions, as well as efficiency.

Estimate the additional associated costs in cash and identify the impact of change on financial position interested parties. Then analyze the change in the structure of costs, risks and revenues and assess the redistribution of benefits to all stakeholders.

Assess your previous business case analysis. In this case, you will receive the data that was before the analysis, as well as after changing all the factors. Thus, assess the feasibility of this project in monetary units and give recommendations for improving it, based on the problems of cost optimization.

A feasibility study is a document that contains an analysis of the feasibility of creating a particular product or service. It allows investors to determine whether they should invest their own money in the proposed business project.

Instructions

Use the following structure when drafting a feasibility study: - initial data and conditions; - market characteristics and company capacity; - material factors of production activities; - location of the company; - design documents; - information about the organization of the enterprise and overhead costs; - labor resources; - forecasting the timing of this project; - financial and economic.

Write the general information about the project, that is, the overall intent in the feasibility study. Indicate the location and participants of the business project. Then make up brief description for the branch of activity to which this project belongs. Next, analyze supply and demand and estimate the market size. After that, identify the main potential consumers of products (services), as well as the main competitors.

Write a justification for the selected region for placing the project from the point of view of market conditions. Give the basic parameters in Feasibility study: type and range of products (services), the volume of services provided by the enterprise.

Provide data on capital expenditures in Feasibility study... Provide an estimate of the capital (one-time) costs required to implement the business project in question. Calculate the amount of operating costs. To do this, refer to Feasibility study for an estimate of operating (annual) costs.

Make up production program v Feasibility study... Describe all types of products (services) that the company plans to produce within the framework of the analyzed project, indicating the volume of production activities and sales prices. Make a rationale for the main price indicators.

Note how the funding for the project is planned. To do this, draw up a scheme for financing a business project, which will contain a description of all sources of obtaining credit funds, their purpose and terms of repayment.

Assess the commercial viability of implementing the created business plan. Make calculations of the main economic indicators based on the necessary initial data, which are accepted for the economic analysis of the project. In turn, the calculated part of the feasibility study should contain the following calculation material: a table of the company's cash flow, a balance forecast.

Related Videos

Justification stage the project very important. During it, you can identify and, if possible, correct those moments that in the future may lead to failure. Take away special attention starting early and you will achieve better results.

Instructions

Define the goals and objectives of the rationale the project... You need to answer the main question: do you need a project. Based on how well you work out the idea and convey the benefits that a new business can bring, a decision will be made whether to accept or not. the project.

Describe the essence the project... Tell us what exactly is planned to be done and what goals are being pursued. Explain how the need for a new business arose and why this path was chosen.

Communicate to the reader or listener the main ideas and the ways in which the result will be achieved. Reassure him that the chosen methods are the most effective in this case.

Tell us how many employees will be required to implement your the project and what qualifications they should be. Give reasons that the workforce should be just like that. Describe in detail the functions of each member of the team. If you have any candidates, announce their names and surnames. In addition, the panelists or your management should know how participation in the project will affect the main work of these employees.

Establish a sequence of actions and announce a deadline the project... List clearly the main stages of its implementation. Then go into detail at each stage. There should be a logical relationship between the actions so that it is clear why one item follows another. Speak the real terms, if it is problematic, do not mention only the possible date of completion the project, it is better to indicate the maximum period. Explain what factors can affect the time it takes to complete the assignment.

Give the calculation of the material resources that will be involved in the project. Show what each cost item consists of. Re-count everything before presenting. Remember that if you make an inaccurate calculation or miss an important article, it can blur the whole impression of the rest of your rationale and lead to abandonment. the project.

undoubtedly an important and fundamental document on initial stages initialization of the project. The feasibility study is included in the package of documents that the project office provides to the potential Customer, justifying the benefits and benefits of the project being implemented. However, interestingly fewer articles and teaching materials are devoted to its correct writing than, for example, writing Terms of Reference(TK) and Technical project(TP). In today's article we will try to fill this gap and tell in more detail about the feasibility study itself and how to draw it up correctly.

In encyclopedic reference books you can find one of the definitions of the term Feasibility Study (Feasibility Study) - a document that provides information from which the expediency (or inexpediency) of creating a product or service is derived. Feasibility study allows you to compare the required costs and expected results, as well as calculate the payback period and determine economic effect from the implementation of the project.

The official definition also gives GOST 24.202-80 Requirements for the content of the document "feasibility study for the creation of an automated control system»: "The document" Feasibility study for the creation of an automated control system "(feasibility study of the automated control system) is intended to justify the production and economic necessity and technical economic feasibility creation or development of ACS ... "

Let's take a closer look at the document itself in detail.

At what stage is the feasibility study developed?

Any project starts with processes initialization, with the formulation of goals for solving production problems.

Feasibility study compiled to analyze the technical and economic feasibility of initializing the project project.

It is at the stage of formation and consideration of the feasibility study that the customer decides for himself whether she will continue to invest in the project or not.

Rice. 1. The process of making a decision to start a project

Goals and objectives of preparing a feasibility study

The main purpose of the preparation feasibility study (FS) one is to substantiate the necessity and feasibility of creating / modernizing any system (hereinafter referred to as the Project). But the target audience for whom the feasibility study is intended may vary.

A feasibility study can be drawn up both for internal use (for example, for agreement with the Management and further development of the project), and for external (for example, to confirm the investment attractiveness of the project to interested parties, creditors and investors). Second case is the most common and demanded. The development company prepares a package of documents, which, in addition to everything, includes a feasibility study, and sends it in the form Commercial offer potential Customer.

Depending on for whom and for what purposes and tasks the feasibility study document is being prepared, the depth of elaboration of some sections may be different.

Here is a general summary table for the circle of potential stakeholders in the preparation of a feasibility study:

Interested persons	Goals / objectives	Areas and interests in the feasibility study
Owner, business owner	For an objective assessment of the need to implement the project in question	The main emphasis is on the compliance with the company's strategy, cost-income ratio, analysis of the effectiveness of investment funds
Chief Executive Officer	For analysis, control and planning; to justify the decision for the implementation of the project, incl. before the board of directors	Main focus on goals, objectives, conditions, timing, costs and expected results
Investors, bank representatives	To assess the possibility of investing in the project under consideration	The main focus on financial plan and conditions for receiving income
Lenders	To make a decision on lending	Main focus on financial plan and loan repayment plan
Project initiator, functional customer	To understand the scope and define the boundaries of the project; to understand the risks	The main focus is on the project boundaries, opportunities and constraints: functional, technical and organizational constraints, project timing and budget.
Project managers	To further plan the progress of the project; to understand project boundaries and risks	The main focus is on the stages of implementation. Also interested in project boundaries and constraints (functional, technical, organizational, timing, budget, resources)

The main tasks in the development of the document are: analysis of the current situation on the side of the Customer, identification of current and potential problems, description of available resources, analysis and selection of the optimal solution, determination of key indicators and the effect of project implementation. At the same time, a feasibility study can be developed jointly with the functional division of the Customer (in which the implementation will be carried out) for analysis, planning and justification of the project in front of the Customer's Management.

Feasibility study preparation process

After preparation, the feasibility study is coordinated and approved by the Management. Management makes one of the following possible decisions:

Reject the project as not viable and economically unprofitable.
Temporarily postpone the project with the need for additional clarification.
Approve the feasibility study document with further transfer for approval
Approve the feasibility study document with the granting of powers for the implementation of the project.

In case of agreement / approval of a project, a budget is assigned to it, and the Project Manager is delegated the authority to implement the project. Then you canproceed with further implementation processes.

WHO PREPARES the feasibility study

1. First option, if the project is implemented within the company, the feasibility study is prepared directly Functional customer

Functional customer Is a representative of the business unit who oversees the further development of the project and is responsible for spending funds for this project.

2. Second option when the feasibility study is prepared by a potential contractor planned to attract the implementation of the project. Also, for the preparation of the feasibility study, third-party consulting companies... It is generally accepted that the cost of work on the development of a feasibility study should be no more than 5-10% from the cost of the entire project.

TEAS PREPARATION FORMAT

The feasibility study is usually separate document... However, it should be noted that in general outline A feasibility study is similar to a Business Plan.

But the main difference between a feasibility study and a business plan is that the business plan directly describes the ways of implementing the strategy, goals and objectives of the organization in the context of the projects necessary for the implementation of the projects, and the feasibility study is more intended to justify specific project .

At the same time, a feasibility study can be drawn up in different ways, in some companies it is short description 1-2 pages of A4 format, and in some it is a set of documents, which are being compiled by a group of dedicated specialists or even the entire department.

STRUCTURE OF THE FEASIBILITY JUSTIFICATION

There is an official structure of the Feasibility Study according to the still Soviet GOST 24.202-80:

Example of a Feasibility Study Structure(according to GOST 24.202-80):

Section 1. Introduction
- Start and end dates of work;
- Sources, volumes, procedure for financing the work;
Section 2. Characteristics of the facility and the existing control system
- General characteristics of the object;
- List and description of shortcomings in the organization and management of the facility;
- Estimation of production losses;
- Characteristics of the facility's readiness to create an automated control system;
Section 3. Objectives, criteria and limitations of the creation of ACS
- Formulation of production, economic, scientific, technical and economic goals and criteria for the creation of an automated control system;
- Characteristics of restrictions on the creation of ACS.
Section 4. Functions and tasks of the created ACS
Section 5. Expected technical and economic results of the creation of an automated control system
- List of main sources economic efficiency obtained as a result of the creation of ACS;
- Estimation of the expected costs of creating an automated control system with their distribution according to the queues for creating an automated control system and by year;
- Expected generalized indicators of the economic efficiency of the ACS.
Section 6. Conclusions and suggestions
- Conclusions about the production and economic necessity and the technical and economic feasibility of creating an automated control system;
- Recommendations for the creation of an automated control system.

In practice, each company prepares a feasibility study in its own format, describing only the main sections of the feasibility study.

Can be distinguished the main typical sections of the feasibility study, which are necessarily present in the feasibility study in one form or another:

Project summary
Project idea... What is the idea of a feasibility study of the project, what is it for. Feasibility study plan of the project with a step-by-step explanation.
Justification. Why such solutions are offered, the reason for choosing this particular material, type of activity or equipment. The feasibility study should also include all possible design risks.
Requirements calculations for production (financial, raw materials, labor, energy). It is necessary to calculate how much money will be required to launch this project. If you are preparing a feasibility study for a loan, you should indicate all possible sources of income.
Economic justification(calculations that show the result of the enterprise after the changes)
Conclusions and offers(summing up, conclusion, assessment)

If you will develop a feasibility study according to your own structure and format, be sure to include standard mandatory sections in the document. The wording of the sections may be different, but the semantic purpose of the sections should be reflected in outcome document.

TERMS OF PREPARATION OF THE TEAS

The term for preparing a feasibility study depends on the degree of detail in the description of the feasibility study; the volume of functionality planned for development and implementation; the number of processes under consideration; the readiness and relevance of the current regulations and other internal documents describing the provisions for the work of the processes under consideration; availability of ready-made infrastructure and dedicated personnel.

So the terms of preparation of a feasibility study, depending on the volume and complexity of calculations, from 3 days to several months.

A STEP-BY-STEP GUIDE FOR WRITING A TEAS

For example, as a basis for the description, we take the structure of the feasibility study for GOST 24.202-80 since on this moment it has the most extensive structure and is the official structure for developing a feasibility study.

For these purposes, you can use SWOT analysis to analyze the effectiveness or inefficiency of the existing infrastructure of the Customer and potential infrastructure during the implementation of the project.

Why exactly SWOT analysis? First, it will most fully reflect the information of interest to us to describe this section. Secondly, this tool is the most common among Leaders, since displays the current state with strengths and weaknesses and allows you to identify the direction in which you need to move on using strengths to eliminate weaknesses and minimize risks.

Section 3. Objectives, criteria and limitations in the implementation of the ERMS

The section describes the goals and criteria for the implementation of the project. The section also describes the limitations.To form a measurable goal for the implementation of the EDMS, you can use the generally accepted technology for the formation of goals for SMART.

The same indicators can be used in the future as key performance indicators. (KPI, Key Performance Indicators).

KPI, Key Performance Indicators - these are the performance indicators of the unit (enterprise) that help the organization to achieve strategic and tactical (operational) goals.

Section 4. Functions and tasks of the implemented Project

The section provides a description of the functions and tasks of the Project planned for implementation. For example,description of the automated processes for ensuring secure user access to the ERP system.

Section 5. Expected technical and economic results of the Project implementation

The section provides a list of expected costs, economic efficiency, sequence and stages of the Project implementation with the allocation of necessary resources. If the project is calculated for more than a year, then the indicators are calculated both for the final and for each year separately.

Index ROI it is necessary to calculate at the following stages: preparation of a feasibility study based on preliminary expert assessments; at the end of implementation, based on estimates, taking into account process optimization; during the period of operation of the System on the basis of actual indicators. Thus, the dynamics of changes and the actual effectiveness of implementation are monitored.

Also in the feasibility study, calculations are given NPV and financial economic indicators EBIT, NOPLAT other.

NPV, Net present value ) Is the sum of the discounted values of the flow of payments adjusted to the present day. Used materials:

1. UFK-Invest, Feasibility Study
2. Laboratory of business ideas, How does a feasibility study differ from a business plan
3. Osnova.ru, We develop a feasibility study for the implementation of EDMS (part 1)
4.Guide for the preparation of industrial feasibility studies

undoubtedly an important and fundamental document at the initial stages of project initialization. The feasibility study is included in the package of documents that the project office provides to the potential Customer, justifying the benefits and benefits of the project being implemented. However, interestingly fewer articles and teaching materials are devoted to its correct writing than, for example, writing Terms of Reference (TOR) and Technical project (TP). In today's article we will try to fill this gap and tell in more detail about the feasibility study itself and how to draw it up correctly.

The official definition also gives GOST 24.202-80 Requirements for the content of the document "feasibility study for the creation of an automated control system»: "The document" Feasibility study for the creation of an automated control system "(feasibility study of the automated control system) is intended to substantiate the production and economic necessity and the technical and economic feasibility of creating or developing an automated control system ..."

Let's take a closer look at the document itself in detail.

At what stage is the feasibility study developed?

Any project starts with processes initialization, with the formulation of goals for solving production problems.

Feasibility study compiled to analyze the technical and economic feasibility of initializing the project project.

It is at the stage of formation and consideration of the feasibility study that the customer decides for himself whether she will continue to invest in the project or not.

Rice. 1. The process of making a decision to start a project

Goals and objectives of preparing a feasibility study

Depending on for whom and for what purposes and tasks the feasibility study document is being prepared, the depth of elaboration of some sections may be different.

Here is a general summary table for the circle of potential stakeholders in the preparation of a feasibility study:

Interested persons	Goals / objectives	Areas and interests in the feasibility study
Owner, business owner	For an objective assessment of the need to implement the project in question	The main emphasis is on the compliance with the company's strategy, cost-income ratio, analysis of the effectiveness of investment funds
Chief Executive Officer	For analysis, control and planning; to justify the decision to implement the project, incl. before the board of directors	Main focus on goals, objectives, conditions, timing, costs and expected results
Investors, bank representatives	To assess the possibility of investing in the project under consideration	The main focus on the financial plan and the conditions for receiving income
Lenders	To make a decision on lending	Main focus on financial plan and loan repayment plan
Project initiator, functional customer	To understand the scope and define the boundaries of the project; to understand the risks	The main focus is on the project boundaries, opportunities and constraints: functional, technical and organizational constraints, project timing and budget.
Project managers	To further plan the progress of the project; to understand project boundaries and risks	The main focus is on the stages of implementation. Also interested in project boundaries and constraints (functional, technical, organizational, timing, budget, resources)

Feasibility study preparation process

After preparation, the feasibility study is coordinated and approved by the Management. Management makes one of the following possible decisions:

Reject the project as not viable and economically unprofitable.
Temporarily postpone the project with the need for additional clarification.
Approve the feasibility study document with further transfer for approval
Approve the feasibility study document with the granting of powers for the implementation of the project.

WHO PREPARES the feasibility study

1. First option, if the project is implemented within the company, the feasibility study is prepared directly Functional customer

Functional customer Is a representative of the business unit who oversees the further development of the project and is responsible for spending funds for this project.

2. Second option when the feasibility study is prepared by a potential contractor planned to attract the implementation of the project. Also, to draw up a feasibility study, third-party consulting companies can be involved. It is generally accepted that the cost of work on the development of a feasibility study should be no more than 5-10% from the cost of the entire project.

TEAS PREPARATION FORMAT

The feasibility study is usually a separate document. However, it should be noted that, in general terms, the feasibility study is similar to the Business Plan.

At the same time, a feasibility study can be drawn up in different ways, in some companies it is a short description of 1-2 A4 pages, and in some it is a set of documents that a group of dedicated specialists or even the entire division is working on compiling.

STRUCTURE OF THE FEASIBILITY JUSTIFICATION

There is an official structure of the Feasibility Study according to the still Soviet GOST 24.202-80:

Example of a Feasibility Study Structure(according to GOST 24.202-80):

Section 1. Introduction
- Start and end dates of work;
- Sources, volumes, procedure for financing the work;
Section 2. Characteristics of the facility and the existing control system
- General characteristics of the object;
- List and description of shortcomings in the organization and management of the facility;
- Estimation of production losses;
- Characteristics of the facility's readiness to create an automated control system;
Section 3. Objectives, criteria and limitations of the creation of ACS
- Formulation of production, economic, scientific, technical and economic goals and criteria for the creation of an automated control system;
- Characteristics of restrictions on the creation of ACS.
Section 4. Functions and tasks of the created ACS
Section 5. Expected technical and economic results of the creation of an automated control system
- A list of the main sources of economic efficiency obtained as a result of the creation of an automated control system;
- Estimation of the expected costs of creating an automated control system with their distribution according to the queues for creating an automated control system and by year;
- Expected generalized indicators of the economic efficiency of the ACS.
Section 6. Conclusions and suggestions
- Conclusions about the production and economic necessity and the technical and economic feasibility of creating an automated control system;
- Recommendations for the creation of an automated control system.

In practice, each company prepares a feasibility study in its own format, describing only the main sections of the feasibility study.

Can be distinguished the main typical sections of the feasibility study, which are necessarily present in the feasibility study in one form or another:

Project summary
Project idea... What is the idea of a feasibility study of the project, what is it for. Feasibility study plan of the project with a step-by-step explanation.
Justification. Why such solutions are offered, the reason for choosing this particular material, type of activity or equipment. The feasibility study should also include all possible design risks.
Requirements calculations for production (financial, raw materials, labor, energy). It is necessary to calculate how much money will be required to launch this project. If you are preparing a feasibility study for a loan, you should indicate all possible sources of income.
Economic justification(calculations that show the result of the enterprise after the changes)
Conclusions and offers(summing up, conclusion, assessment)

TERMS OF PREPARATION OF THE TEAS

So the terms of preparation of a feasibility study, depending on the volume and complexity of calculations, from 3 days to several months.

A STEP-BY-STEP GUIDE FOR WRITING A TEAS

For example, as a basis for the description, we take the structure of the feasibility study for GOST 24.202-80 since it currently has the most extensive structure and is the official structure for developing a feasibility study.

For these purposes, it can be used to analyze the effectiveness or inefficiency of the existing infrastructure of the Customer and potential infrastructure during the implementation of the project.

Why exactly ? First, it will most fully reflect the information of interest to us to describe this section. Secondly, this tool is the most common among Leaders, since displays the current state with strengths and weaknesses and allows you to identify the direction in which you need to move on, using strengths to eliminate weaknesses and minimize risks.

Section 3. Objectives, criteria and limitations in the implementation of the ERMS

The same indicators can be used in the future as key performance indicators. (KPI, Key Performance Indicators).

KPI, Key Performance Indicators - these are the performance indicators of the unit (enterprise) that help the organization to achieve strategic and tactical (operational) goals.

Section 4. Functions and tasks of the implemented Project

Section 5. Expected technical and economic results of the Project implementation

Also in the feasibility study, calculations are given NPV and financial and economic indicators EBIT, NOPLAT other.

Feasibility Study (Feasibility Study)

Feasibility study (FS) is the study of economic profitability, analysis and calculation of economic indicators of the investment project being created. The goal of a project can be the creation of a technical object or the construction or renovation of an existing building.

The main task in drawing up a feasibility study is to estimate the costs of investment project and its results, analysis of the payback period of the project.

It is necessary for the entrepreneur himself to draw up a feasibility study to understand what to expect from the project, and for an investor, a feasibility study of an entrepreneur requesting investment is necessary to understand the payback period of the money invested. The development of a feasibility study can be entrusted both to a group of specialists (in complex projects), or it can be drawn up independently by an entrepreneur.

What are the main differences between a feasibility study and a business plan?

Usually a feasibility study is drawn up for new projects at an existing enterprise, therefore, such blocks as marketing research, market analysis, description of the enterprise and product are not described in such a feasibility study.

But sometimes a situation arises and, in addition, the feasibility study provides detailed data on the analysis of technologies and equipment and the reasons for their choice.

Thus, a feasibility study (FS) is a shorter and more meaningful document than a full-fledged business plan.

Technique for compiling a FEASIBILITY JUSTIFICATION

When compiling a feasibility study, the following sequence of thematic parts is allowed:

Initial data, information about the market sector,

Existing opportunities operating business enterprises,

Sources of raw materials, material factors for business development,

Capital expenditures assumed to achieve this goal,

Operating costs during project implementation,

Production plan,

Financial policy and financial component of the project,

General information about the future project.

In general, the feasibility study provides a description of the industry in which the enterprise operates, and provides a rationale for the choice of the territorial and geographical location of the current and proposed business, as well as describes the type of products manufactured. Here it is necessary to describe and justify prices for manufactured products. At the same time, the financial part of the feasibility study contains information about the sources of financing and the terms of debt repayment, the conditions for the use of borrowed funds.

Calculations in the feasibility study consist of tables that show the cash flow and balance sheet.

Such a structure of the feasibility study may not be the only correct one and may vary depending on the specific project. Also, it can be expanded for large and complex business projects.

What is the difference between a feasibility study (FS) and a business plan?

V modern business and office work, the terms business plan and feasibility study have become firmly established in the lexicon of terms of entrepreneurs and economists, but there is still no clear separation of such concepts. The article attempts to highlight the issues of similarities and differences between the business plan and the feasibility study of the business.

Theorists offer the notion that a feasibility study is the result of a variety of studies, both economic and marketing research... But at the same time, a conclusion is made about the feasibility of the project, and a range of economic, organizational and other proposed solutions for optimization is determined. production process... However, a feasibility study is often an integral part of a business plan.

At the same time, there is an opinion that the feasibility study, to some extent, is either an abbreviated version of the business plan, or, on the contrary, it is an ordinary business plan, which was called a feasibility study.

It should be noted that if the procedure for drawing up and the structure of a business plan is clearly spelled out, then when drawing up a feasibility study, you can find several different writing options that differ depending on the problems under consideration.

There are the following options for a feasibility study in practice:

Example # 1

1. the real state of the enterprise;

2. market analysis and assessment of the production capacity of the enterprise;

3. technical documentation;

4. the state of affairs with the labor force;

5. organizational and overhead costs of the enterprise;

6. estimate the duration of the project;

7. analysis of the financial attractiveness and economic feasibility of the project.

Example No. 2

1. the essence of the proposed project, presentation of the foundations of the project and the principles of its implementation;

2.a small overview of the market, presentation of the results of various studies in order to study the demand for new service or product;

3. technological and engineering aspects of the project:

a) a description of the production process;

b) evidence of the need to purchase new equipment or upgrade old ones;

c) comparison of the new product with the current quality standards;

d) an overview of the strengths and weaknesses of the new product or service;

4. financial and economic indicators, including:

a) the expected and necessary investments in the project;

b) prospective internal and external financial sources;

c) production costs;

5. Evaluation of the efficiency and payback of the promoted project, guarantee of the return of external borrowings;

6.the susceptibility of the proposed new product, service to existing market risks, as well as resistance to possible risks in future;

7. general assessment of the effectiveness of possible external borrowing.

Example No. 3

1. a summary of all the main provisions of the feasibility study;

2. conditions for the implementation of the new project (who owns the authorship of the project, the source material for the project, what preparatory measures and research have already been carried out, etc.);

3. analysis of the prospective sales markets, an overview of the production capabilities of the enterprise, as well as the calculation of the peak capabilities of the enterprise and a number of other factors;

4. This section reflects everything related to production support (necessary stocks and production resources), analysis of existing contractors and potential suppliers, analysis of possible costs for various production factors;

5. the section is devoted to the territorial location of the enterprise and the costs associated with this provision (a rough estimate of where the enterprise will be located, preliminary calculations related to the payment of a lease for a site for production or for an office space);

6.design and project documentation (assessment necessary technologies for a new project, the assessment of additional auxiliary facilities, without which it will be impossible to carry out production;

7. organizational and other additional costs associated with the new project (calculation of additional costs, as well as a sketch of the proposed structure of future production);

8.analysis of labor resources for a future project (assessment human resources which will be needed to start a new project). The estimated number of workers and maintenance personnel is indicated, required amount engineering and technical workers. In addition, it is indicated whether only local workers or nonresident (foreign) specialists will be involved. In the same section, the calculated labor costs, taxes associated with wages and a number of other points;

9. timetable for the implementation of the submitted project;

10. general assessment of the economic and financial viability of the planned project.

Note that many of the examples of feasibility studies provided, especially the last example, resemble a detailed business plan.

There is a fine line between a feasibility study and a business plan, and this leads to the fact that with a high degree of certainty we can say that if you are required to provide a feasibility study for a project, you can safely draw up a detailed business plan, while leaving unnecessary disputes - theorists economic science, but it's better to get down to business.

Technique for drawing up a feasibility study (FS):

2. General description of the project, input data about the project. Information about the research that was carried out in advance, the assessment of the necessary investments.

3. Description of the market and production. Demand assessment and forecast of future sales, description of the enterprise's capacities.

4. Raw materials and resources. Calculation of the required volumes of material resources, forecast and description of the supply of resources to the enterprise, analysis of their prices.

5. Choosing the location of the enterprise (objects of the enterprise). Justification of the choice of location and assessment of the cost of renting premises or land.

6. Project documentation... Description of the technology for the production of future products, characteristics necessary equipment, additional buildings.

7. Organizational structure enterprises. Description of the organization of the enterprise and overhead costs.

8. Labor resources. Assessment of the need for labor resources with division into categories (workers, employees, top managers, managers, etc.). Estimation of salary costs.

9. Terms of the project. Project schedule, cost estimate, tranche sizes, etc.

10. Economic calculations. Assessment of investment costs, production costs, financial appraisal project.

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