FIRM COMPETITIVENESS AND THE FEASIBILITY FORMULA™: THE NECESSARY ALIGNMENT OF STRATEGIC GOALS AND CONTEMPLATED
FIRM COMPETITIVENESS AND THE FEASIBILITY FORMULA™: THE NECESSARY ALIGNMENT OF STRATEGIC GOALS AND CONTEMPLATED PROJECTS

Summary/Abstract: The success and failure of projects is an important consideration for a firm’s competitiveness. Projects require resources, both human and capital, and represent an investment in the firm’s success and resulting position within the marketplace. The Feasibility Formula™ is a novel tool and accompanying methodology developed by the author for the purpose of contributing to both the firm and the project management profession in its ability to assess the alignment of a project with an organization’s strategy, to inform the likelihood of the project outcome, and to support effective decision making. In ascertaining its effectiveness through an iterative methodology refinement and six case studies, the author is further able to establish a link between the utilization of the combined tool and methodology and its favourable impact on a firm’s competitiveness. This paper will examine the need for an effective pre-project feasibility tool and associated stakeholder engagement or facilitation methodology, and the extent to which the Feasibility Formula™ has a positive effect on an organization’s competitiveness in the marketplace, irrespective of size of the firm, its position within the lifecycle, industry type or corporate culture. It will address competitiveness factors and the tool’s support for strengthening core competencies, firm growth, proficiency of workers, speed of decision making and strategic alignment – culminating in a firm’s competitive advantage.

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