Preliminary Feasibility for Public Research Development Projects by Donghun Yoon

Author:Donghun Yoon [Yoon, Donghun]
Language: eng
Format: epub
Tags: Business & Economics, Research & Development, Political Science, Public Policy, General, Organizational Development, Public Affairs & Administration, Operations Research
ISBN: 9781801172684
Google: gioqEAAAQBAJ
Publisher: Emerald Group Publishing
Published: 2021-04-27T02:49:57+00:00

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Technical Feasibility Analysis Model

The technical feasibility analysis, which determines the feasibility of a project in terms of science and technology, analyzes the adequacy of technology development (the compliance with the plan, the appropriateness of project goals, the appropriateness of the implementation system, the appropriateness of details), the success of technology development (the analysis of technology level and competitiveness, the analysis of trends in reduction of technological gaps with advanced countries), and the redundancy with existing technologies and businesses (the project level and the project size) and evaluates qualitatively. The technical feasibility analysis includes more information about the project than other items of analysis because it controls the scope as a unit of project and then examines whether the management and control of the project in the investigation are reasonable. Project planning and control are the essentials of project management (Sharon, Weck, & Dori, 2009). The analysis results include the basis for the faithfulness of the project plan, the excellence of investment area presented in the project plan, and the specific feasibility of overinvestment possibility in the investment area. This information should be useful to government financial authorities, governments requiring preliminary feasibility studies, and project implementers, who are the main stakeholders of preliminary feasibility study results. One of the main challenges for technology-driven industries is to rapidly transform R&D results into revenues (Guglielmi, Lascar, Mastrocola, & Williams, 2006). Assessment items consist of basic assessment items applied in general R&D projects and special assessment items applied reflecting the specificity of the project. Basic assessment items are assessment items that should be included in the assessment of preliminary feasibility study for all projects. The most important reason for setting a basic assessment item in advance is that there is common ground to consider when injecting limited national finances regardless of the nature of target project, and the uniformity in selecting assessment items is necessary for the consistency of assessment between projects. The technical feasibility analysis is the most important sector in the preliminary feasibility study of the R&D sector, and basic assessment items consist of the adequacy of technology development plan, the possibility of successful technology development, and the redundancy with existing projects. It draws up and analyzes issues of all national R&D projects for which preliminary feasibility studies are conducted. The appropriateness of a technology development plan is an item that analyzes the faithfulness of the project plan for approval of a large R&D project, which is directly in line with the purpose of introducing a preliminary feasibility study on R&D projects. In order to analyze it in detail, the adequacy of planning process, the appropriateness of project objectives, the composition and content are established as assessment items. The appropriateness of the planning process is an analysis of whether the project plan has been established through a reasonable process to prevent the project from becoming a failure due to errors in the planning stage. The appropriateness of project objectives is to examine whether the issues and issues of need for project implementation

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