2 - Project Feasibility

This phase generates most of the data to justify the business case and create a project outline. Remember that the entire project effort must be accountable to the business.

The MRD, which is the basis of the business plan, is refined to the point where enough is known to determine if the project is feasible and the product is defined, for example:

• Does the product 'make sense' from the targeted user viewpoint?
• Is there really a market and, if so, is it accessible?
• Does the effort fit the corporation?
• Do technologies exist to implement the suggested product? Does technology need development first?
• Do you have the right people and experts, appropriate facilities and tools to develop the product? If not, can you obtain them?
• Can the product be feasibly replicated in estimated quantities by some entity?
• Can sources of funding be found to complete the project?
• Is there enough time to do all of this within the estimated 'market windows'?

The expected production volumes and complexity of the product should be understood to a sufficient degree so that project funds are properly mapped to the development project: See Product Development, Where do you Start?

Now it's time to refine the MRD in order to 'nail down' the project and product requirements. Following are some examples of things to consider. The necessity of each depends on the type of project and product to be developed:

• Speed, response, performance of the product
• Team members (skills and knowledge) needed; personnel training plans
• Facilities, resources, tools required
• Responsibility list (project management) and incentive plans for the team needs to be determined
• Product labeling requirements
• Cost Reduction milestones in the product life cycle: See Cost Reduction; It's more than Just Parts and Labor, http://www.techmankanata.com/a1p1.html
• Allow maximum, but controlled, innovation in all processes to ensure a unique product evolves: see Where Does Innovation Fit Within Product Development?
• Testability philosophy
• Define required accessory products
• End-of-life plans and financial responsibilities
• Product installation, training, calibration and maintenance requirements
• User (and patient - for medical products) needs
• Human Factors & user interface (ID) requirements
• Features, performance, look, feel
• Competition Information
• Inter-system interfaces (HW and SW)