Project feasibility (Stage 0)
A project feasibility is required to be undertaken as soon as possible within a project, usually at Stage 0. The Project Initiation Document (PID) [word] is the tool project stakeholders use to seek funding for feasibility studies. The client brief is the basis for the PID and should be included as an appendix. The Project Initiaition Document is the responsibility of the Faculty Operating Officer (FOO)/Support Services Head of Division (SSHoD). The FOO/SSHoD can be assisted by the Project Manager and any other individual such as College stakeholders to complete the document.
The PID must clearly set out the surveys and studies that will be carried out to complete the feasibility study and a breakdown of the potential fees.
For projects over £1 million an appropriate Initial Investment Appraisal Model shall be completed and submitted with the PID. Depending on the project the Faculty Finance Officer shall complete the relevant Model.
The Project Initiation Document once endorsed can then be submitted for approval to the Estates Committee Meeting (ECM). Documents are to be submitted two weeks prior to meeting.
Any funding awarded for a feasibility study will come from the College Feasibility Fund and is managed by PRM. This will be repaid from any project that is subsequently approved.
Post PRM approval, the Project Team required to undertake the feasibility studies will be determined.