Business Analysis student is required to complete a feasibility study, using a TELOS framework, For most project managers, the business case for a proposed project is provided for them. For example, the Project Steering Committee, Chief Projects Officer or a Program Manager has analysed the current situation and determined that the project should in fact go ahead.
However, the decision to go ahead with a project is often based on the results of a feasibility study, and therefore it is not unrealistic to expect that, in your role as an IT Manager or Business Analyst, you may someday be required to conduct a feasibility study.
The PMBoK does not provide sufficient guidance or help regarding how to conduct a feasibility study, therefore we need to look for frameworks beyond PMBoK in order to do this.
A very useful framework is TELOS, which stands for:
Technical / Technological: Can it be achieved? Are we in a position to do it?
Economical: Can the project be afforded? Will it increase profit?
Legal: Is the project legal? Will this project fit in with the vision of the organisation? Operational / Organizational: How will the current operations support the change?
Schedule: Can it be completed in time? Below are some links you may find useful in further understanding the TELOS framework.
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