The Feasibility solution method is ideal for validating bids or proposals against internal or industry performance trends and creating early ROM (rough order of magnitude) estimates based on high level schedule and resource goals or targets. Because so little is known about the project at the time these estimates are typically performed, sizing is very high-level. Most often, you will simply select the T-shirt size bin (small, medium, large, etc.) that best describes the project’s anticipated scope relative to similar projects from the project’s chosen benchmark group. The “size” associated with each size bin comes from either a QSM industry trend group – specified in your template – or a custom set of trends created using your own completed project data. The default size bin for new feasibility projects – Medium – reflects an average-sized system, but you can select a different bin using the Sizing tab.
Because feasibility assessments are designed to assess the risk associated with a bid or proposal, you will also input your desired schedule and resource (staff, effort, or cost) goals. At the Feasibility stage, these goals are more likely to reflect sales proposals or bid targets rather than schedule and resource values based on past performance from similar projects completed by your firm. This makes it very important to validate Feasibility solutions against industry or your own data to ensure they are achievable!
To create a new Feasibility solution, click the Create New Project from Template icon from the project list page, then select Feasibility from the list of project types. Select a configuration source, then OK to go to the Assumptions tab of the Edit Estimate Project dialog.
If you are working with an existing project, you can just select Feasibility from the solution methods listed on the Assumptions tab.