What if the sponsor doesn’t want a feasibility study – they want a 100% guarantee!!!

Projects are risky by definition! You are trying to create something that has never been created before. Some executives find this uncomfortable and request a feasibility study to determine whether the project is viable. It’s a smart thing to do: it helps you build a good initial scope statement and project charter. However, if the feasibility study is supposed to create certainty about the project outcome – meaning no risk – you’ve got a problem. Here are some tips if you find yourself in this situation.

1. Focus on creating a risk plan and sharing it enthusiastically. This may seem a bit counter-intuitive. You have executives who don’t want risk, and the advice is to shove a risk plan in their face! The fundamental truth is that projects involve risk. Embrace that! Presenting a methodical way to approach risk is the best way to balance the reality of those risks with a sense of control.
2.  Package your project approach as a story. When your executive sees how the project can come to pass via a believable story, you can ease their fears and allow a reasonable project to move forward.
3.  Focus on the steps in your plans and how you can validate each step as they occur. Executives often fear that they will lose control and incur large expenses or delays. Building sound plans and project controls can ease your executives’ anxiety. Make your sponsor comfortable that they will have control over the project and can act proactively if things go sideways. Doing so will put your sponsor, yourself and your organization in a much better position to deliver a viable project.
4. Understand your sponsor’s greatest concerns and communicate status about those concerns. If they are concerned about spending, create as detailed a budget and spending plan as you can and review status regularly. When the status isn’t good, report it quickly  — along with actions that can be taken. Ensure a sense of control and understanding is present regarding your project, and you and your sponsor are more likely to work together to produce great project outcomes.