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Resource Feasibility

5 minutes 5 Questions

Resource feasibility assesses the resources needed to complete a project and whether those resources are available. Resources include physical resources like technology and materials, but also human resources in terms of skills, experience and knowledge. It is vital to know whether the necessary number of personnel with the required skills and knowledge will be available during the project's implementation phase.

Guide: Understanding and Answering Questions on Resource Feasibility in Exams

What is Resource Feasibility?
In the context of a Project Feasibility Study within CAPM (Certified Associate in Project Management), resource feasibility refers to assessing whether the necessary resources are available to carry out the project. This can include manpower, technology, time, or raw materials.

Why is it Important?
Resource feasibility is important because certain resources may not be infinite or readily available. If a project fails in resource feasibility, it means the project may not be viable due to the lack of availability of certain resources.

How does it work?
Resource feasibility involves listing all the necessary resources for the project, then assessing whether they are readily available or if they can be acquired within project constraints like time and budget.

Exam Tips: Answering Questions on Resource Feasibility

  1. Know the different types of resources, their definitions, and why each type is important.
  2. Understand how to conduct a resource feasibility study and what factors influence it.
  3. Be ready to provide specific examples of resource feasibility issues and how they can be addressed.
Lastly, practise answering questions about resource feasibility to become more proficient. The importance of this topic lies in understanding the full context of project management and being able to apply it in the field.

Remember, always answer in a structured and clear way, providing logical explanations. If possible, give examples to better illustrate your understanding of the topic.

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CAPM - Project Feasibility Study Example Questions

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Question 1

During a resource feasibility study for a project, you discover that a key piece of specialized equipment is only available from a single supplier with limited production capacity. What is the most appropriate action to mitigate this risk?

Correct Answer: Negotiate a priority supply agreement with the supplier

The most appropriate action to mitigate the risk of limited equipment availability is to negotiate a priority supply agreement with the supplier. This approach directly addresses the identified risk by securing a commitment from the sole supplier, ensuring the project's access to the essential equipment. Negotiating a priority agreement allows the project to:
1. Secure the necessary equipment
2. Maintain the original project design and specifications
3. Potentially avoid delays or additional costs associated with alternative solutions The other options are less suitable:
Redesigning the project to use alternative equipment may compromise the project's objectives or quality, and could lead to additional costs and delays. Increasing the project budget to outbid other buyers is not a sustainable solution and may lead to cost overruns without guaranteeing equipment availability. Delaying the project start date is a passive approach that doesn't address the root cause of the problem and could result in missed opportunities or failure to meet stakeholder expectations. By proactively negotiating with the supplier, the project manager takes a strategic approach to risk mitigation, aligning with best practices in project management and resource planning.

Question 2

A key piece of equipment breaks down during your project. What is the best course of action?

Correct Answer: Mitigate this risk by implementing a plan that addressed such possibility

The best course of action when a key piece of equipment breaks down during your project is to 'Mitigate this risk by implementing a plan that addressed such possibility'. This is because good project management involves risk planning, and having a contingency plan for such incidents should be a part of the project planning process. Here's why the other options are incorrect: 'Take the equipment to get fixed and halt the project' - halting the entire project for equipment repair may lead to unnecessary delays and cost overruns, and it shows there was no backup plan; 'Attempt to continue the project without the equipment' - this might not be possible if the equipment is crucial for the project, and even if it were possible, it might compromise the quality or scope of the project; 'Ask the project client for additional funds to replace the equipment' - this should be a last resort, Client might not be happy to spend more than agreed or it could affect your credibility as they may think you should have properly planned for such incidents.

Question 3

Your project requires a highly specialized engineer that is on another time critical project. How do you handle this situation?

Correct Answer: Negotiate a resource-sharing plan with the other project manager

The best method of handling this scenario, for a Certified Associate in Project Management, would be to 'Negotiate a resource-sharing plan with the other project manager'. This approach ensures the engineer's skills are utilized efficiently without disturbing the schedule of either project. The other options are not ideal. 'Hire another engineer from outside' might seem viable, but finding someone with the same level of expertise could be challenging and costly. 'Force the engineer to work overtime' could lower morale and potentially lead to lower quality work due to fatigue. Lastly, 'Stop the work until the engineer is free' is not an effective strategy as it could significantly delay the project and lead to more problems.

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