Is there a standard definition of "Pre-Feasibility Study" in an
investment or project planning/management cycle?

I'm a consultant working on a Pre-Feasibility Study for a consortium
of agencies.  My study parameters are defined by what I understand as
the basis and scope for a Pre-Feasibility Study in project/investment
planning.  My clients have asked that I define Pre-Feasibility and I
would like to be certain that it is consistent with industry
standards.  I would also like to reference the source of standards or
best practice.

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Request for Question Clarification by pafalafa-ga on 23 Aug 2003 18:26 PDT

Hello there,

From what I know from personal experience, a "pre-feasability study"
is pretty much whatever one makes of it.  The basic idea is just
"quick and dirty" -- scope things out without spending a lot of money
or time.

I checked a few working definitions:


http://www.oas.org/usde/publications/Unit/oea03e/ch13.htm

Organization of American States

Pre-feasibility study
 A preliminary assessment of the technical and economic viability of a
proposed project. Alternative approaches to various elements of the
project are compared, and the most suitable alternative for each
element is recommended for further analysis. Costs of development and
operations are estimated. Anticipated benefits are assessed so that
some preliminary economic criteria for evaluation can be calculated.
 
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http://www.tiomin.com/s/RelatedInfo.asp?ReportID=1414&_Title=Glossary

Tiomin Resources Inc.
pre-feasibility study: The initial stage of the feasibility study in
which the accuracy of the factors involved such as costs and revenues
is +/-25%. Should the pre-feasibility study be positive, the company
would move to the final feasibility study.

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If you'd like, I can find more definitions along these lines, if you
think that would serve as an adequate answer.  However, I don't
believe I can find for you a "standard definition" as I just don't
think one really exists.

Let me know your thoughts on this. Thanks.

pafalafa-ga