During the feasibility study we will analyze how successfully a campaign or project can be completed, accounting for factors that affect it such as economic, technological, legal and scheduling. Organizations use feasibility studies to determine potential positive and negative outcomes of a campaign before investing a considerable amount of time and money.
A feasibility study tests the viability of an idea, a campaign, a project or even a new organization. The goal of a feasibility study is to place emphasis on potential problems that could occur if a capital campaign or project is pursued and determine if, after all significant factors are considered, the project should be pursued. Feasibility studies also allow an organization to address where and how it will operate, potential obstacles, competition and the capital needed to get the project up and running and meet long-term needs as well.
Feasibility studies allow organizations to determine and organize all of the necessary details to make a campaign or project work. A feasibility study helps identify logistical problems, and nearly all organization-related issues and provides the solutions to alleviate them. Feasibility studies can also lead to the development of campaign or project marketing strategies that convince donors that investing in the organization is a wise choice.
WHAT IS A CAMPAIGN FEASIBILITY STUDY?
Serving as the starting point for many campaigns and projects, the feasibility study or feasibility analysis determines an organization’s fundraising capacity. Under the direction of The Hodge Group’s Principal, we will help produce a preliminary case statement, select key community leaders and potential donors to interview, and assess your community’s giving potential. Final recommendations are presented to stakeholders through both oral and formal written reports.
The feasibility study might also examine technical aspects of the project to determine if such technology can be integrated easily into an organization's existing structures. Organizations must be selective about what projects they're willing to fund, weighing the long- and short-term benefits for embracing or opposing any particular initiative.
The feasibility study basically answers the questions, “Is this campaign feasible?” and “How do I best go about having a campaign?” A feasibility study answers these questions in general terms (the planning portion works out the details).
The feasibility study is the time to do the high-level research and is meant to get an understanding of what it will take to have success before too much time and money is invested into the campaign. It narrows the focus of “how” you will go about the campaign and allows you to make major course corrections in response to the research before a lot of time and money are invested.
THE FEASIBILITY STUDY WILL OFTEN ANSWER QUESTIONS LIKE THE FOLLOWING:
- Does my project make sense, and will it clearly answer a problem or seize on an opportunity?
- Do I have a larger enough donor base to support this campaign?
- Does the campaign have support from key stake holders?
- How much can we reasonably expect to raise and over how long a time period?
- What passions will this project tap into with donors/potential donors?
- What questions will donors have about the project?
- Who are potential campaign leaders and champions?
- Who are potential major donors?
- What is the best time to implement the different stages of the campaign?