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Re: Feasibility Studies GSchmidt 01 Jul 2003 07:13 EST

Debra:

I think it depends upon why you're doing the feasibility study in the
first place.  If you are studying the possibility of your organization
 to do a new line of research, or provide a new  treatment service, I'd
say that would be a cost of doing business - indirect.

If you have an award in hand and need to, or have been requested by the
sponsor to, do a study on which way to take the research, it should be
direct.

Normally, a feasibility study is an examination of  an optional process
of an existing operation.  It can also be an evaluation of the
organization's carrying capacity for a new service or product.  It
invariably involves an economic determination of which is better for the
organization in terms of opportunity costs  - to leave the current
process alone, change the process, add the service, etc.  A cost/benefit
analysis is a small part of this.  Opportunity costs can be non-monetary.

Greg Schmidt

Hansen, Debra wrote:

>How do other institutions define "feasibility studies"?  Additionally, how do you fund the cost of feasibility studies....as direct or indirect costs of doing research?
>
>Thanks!
>
>Deb
>
>***************************************************
>Debra K. Hansen
>Director of Sponsored Programs and Fiscal Affairs
>Marshfield Clinic Research Foundation
>1000 N Oak Avenue - 1R3
>Marshfield, WI   54449
>715-387-9130
>xxxxxx@mcrf.mfldclin.edu
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