A project can appear convincing in a presentation and still be difficult to deliver in practice. The management team may lack relevant experience, the proposed technology may not suit the project, important equipment may be missing, or the financial assumptions may depend on information that has not been tested.
Global Screenings provides feasibility intelligence for organizations, investors and other authorized parties reviewing a proposed project, capital investment or business venture. The service examines the people, plan, resources and risks behind the proposal so that decision-makers can consider the project with a clearer understanding of its practical requirements.
Feasibility Review Before an Investment Decision
A feasibility review helps determine whether the information supporting a project is consistent, realistic and sufficiently complete for further consideration. It does not simply ask whether the idea is attractive. It examines whether the people, technology, equipment, finances and project plan appear capable of supporting the proposed activity.
The depth of the review should reflect the scale of the investment, the countries involved, the complexity of the project and the information already available.
Where a project also involves a new company, investor, business partner or transaction party, the work may be supported by Third-Party Integrity Due Diligence.
What Feasibility Intelligence Can Examine
Depending on the project and agreed scope, a feasibility review may include:
- Board and management background checks
- Management capability and relevant experience
- Personnel background and professional expertise
- The proposed project structure
- Technology required for the project
- Identification of key project equipment
- Available project plans and supporting documents
- Financial estimates included in the proposal
- Capital investment requirements
- Project assumptions and dependencies
- Potential operational and organizational risks
- Information that requires clarification or further verification
Board and Management Capability
The people responsible for a project can be as important as the project plan itself. A management team may have a strong general business record but limited experience in the industry, technology or country in which the project will operate.
A management capability review may consider:
- Current and previous directorships
- Professional employment history
- Relevant project or industry experience
- Academic and professional qualifications
- Professional memberships and licences
- Previous business and project involvement
- Available litigation, disqualification or public records
- Conflicts of interest
- Reputation and media information
A background concern should be assessed in context. An older dispute, an incomplete employment record or a similar-name result does not automatically mean that a manager is unsuitable for the project.
For senior individuals requiring a more detailed review, the assignment may also include an Executive Profile Search.
Personnel and Professional Expertise
A project may depend on engineers, technical specialists, operators, advisers or other personnel with particular skills. The feasibility review can help examine whether the people identified for those roles have the background and qualifications stated in the proposal.
Depending on the information available, the review may consider:
- Professional experience
- Previous project involvement
- Academic qualifications
- Technical certifications
- Professional licences
- Membership of relevant professional bodies
- Employment history
- Role and responsibility within the proposed project
The purpose is to compare the stated capability with the available supporting information. It does not replace a technical interview or a professional assessment of the person’s work.
Project Capability and Technology Review
A project may rely on equipment, systems or technology that must operate together under the conditions described in the plan. The review can examine whether the proposed technology and operational capability are clearly identified and supported by the available documentation.
The assessment may consider:
- The technology described in the project plan
- The intended use of that technology
- The personnel required to operate or maintain it
- Dependence on external suppliers or specialists
- Important systems or equipment required for delivery
- Gaps between the proposed plan and the resources identified
- Information that requires specialist technical review
Global Screenings can review the available background and supporting information. Formal engineering, technical design and performance certification should be completed by appropriately qualified specialists.
Identification of Project Equipment
Equipment requirements can affect the cost, timetable and practicality of a project. A proposal may identify major equipment but provide limited information about its source, suitability, condition or availability.
An equipment-related review may consider:
- The equipment listed in the project plan
- The purpose assigned to each major item
- Proposed suppliers or manufacturers
- Availability and delivery dependencies
- Installation or operating requirements described in the proposal
- Whether important equipment appears to be missing from the plan
- Documents or representations requiring further verification
The review does not replace a physical inspection, engineering assessment or technical valuation of the equipment.
Assessment of the Project Plan
A project plan should explain what will be delivered, who will be responsible, which resources are required and how the work is expected to progress.
The assessment may review:
- The stated project objectives
- The proposed activities
- The management and personnel structure
- Important stages or milestones
- Technology and equipment requirements
- Dependencies on suppliers, partners or other parties
- Financial assumptions included in the plan
- Potential delays or operational constraints
- Areas where the proposal lacks supporting information
A project plan may appear complete while still relying on assumptions that have not been confirmed. Identifying those assumptions helps decision-makers understand where further evidence or specialist review may be needed.
Project Financial Estimates
Financial estimates are often central to an investment proposal. They may include expected project costs, capital requirements, operating expenses, revenue assumptions or other figures used to support the decision.
A feasibility review may consider whether:
- The major cost categories have been identified
- The estimates are supported by available documents
- The proposed equipment and personnel costs appear in the plan
- Important project dependencies have been considered
- The financial information is consistent across the documents reviewed
- There are material assumptions that require clarification
- The project may require additional financial or accounting review
Global Screenings can examine the consistency and background of financial information included in the agreed scope. Formal financial modelling, audit, valuation, tax advice and investment recommendations remain the responsibility of qualified financial professionals.
Identifying Expected Risks
Every project involves uncertainty. The purpose of feasibility intelligence is not to promise that a project will succeed or fail. It is to identify the risks and unanswered questions that may affect the decision.
Potential risks may relate to:
- Management capability
- Personnel experience
- Technology or equipment
- Financial assumptions
- Project planning
- Suppliers or business partners
- Operational dependencies
- Ownership or corporate structure
- Litigation or reputation concerns
- Information that could not be verified
Where the project requires a wider assessment of organizational or operational risks, the work may also include Global Risk Consulting.
Information and Documents for Review
The usefulness of a feasibility review depends partly on the quality of the information available. The instruction may include documents such as:
- Project proposals
- Business and operating plans
- Management profiles
- Personnel resumes
- Qualification and licence records
- Equipment schedules
- Technology descriptions
- Financial estimates
- Corporate records
- Contracts or agreements included in the scope
- Other supporting information connected with the project
Missing or incomplete documents should be identified clearly. The absence of supporting information may itself be relevant to the investment review.
Reporting the Findings
The completed report may distinguish between:
- Information confirmed through an available source
- Information that appears consistent with the documents reviewed
- A discrepancy requiring clarification
- An assumption that has not been supported
- Information that could not be verified
- A matter requiring technical, financial or legal review
- A risk requiring further consideration by the client
The report should not describe a project as feasible or unfeasible on the basis of one isolated issue. The findings should be considered together with the project’s technical, financial, legal and commercial assessments.
International and Cross-Border Projects
A project involving several countries may depend on overseas managers, suppliers, technology, equipment or investment parties. Corporate records, professional qualifications and supporting documents may be held in different languages and jurisdictions.
Some information may be available through online records, while other matters require direct or manual verification. The available coverage and expected completion time should therefore be considered separately for each country involved.
Important Limitations
Global Screenings provides research and feasibility intelligence within the agreed scope. The service does not guarantee the success, profitability, safety or completion of a project.
It does not replace technical engineering studies, legal advice, environmental assessment, financial audit, tax advice, project valuation or an investment recommendation from appropriately qualified professionals.
Final decisions on whether to fund, acquire, approve or proceed with a project remain with the client and its management, investors and professional advisers.
