Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Isabela State University | Instructional Module
ISABELA STATE UNIVERSITY
Instructional Material Development Center
INSTRUCTIONAL MODULE
Introduction to Project Feasibility Studies and the Project Summary
Module 1 of 7 — Project Feasibility Study Series
Type of IM Module / Digital IM
Program Bachelor of Science in Business Administration (BSBA)
Course Code and Title BA ELECTIVE 3: Project Feasibility Study Preparation
Semester / Academic Year First Semester / AY 2026-2027
Author / Developer Jennifer Montenegro-Villanueva/ MelodyEsteves-Lim
Module Number Module 1 of 7
This module follows the standard format prescribed in the ISU Instructional Material Development Manual and
demonstrates OBE, SMART Instruction, inclusivity, assessment alignment, ethical authorship, and documentation
readiness.
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Quality Assurance Note for Faculty Developers
Faculty developers may adapt the layout, tables, activities, and assessment design to fit their respective disciplines
and class sizes. All discipline-specific content, citations, and assessment keys must be verified by the author, peer
reviewer, subject expert, and College/Campus IM Committee before institutional use.
● Use the same major sections shown in this module to comply with the approved IM standard format.
● Maintain alignment among Program Outcomes, Course Intended Learning Outcomes, lesson outcomes,
activities, and assessments.
● Include learner-friendly instructions, varied learning tasks, reflection prompts, and inclusive learning
support.
● Attach the Turnitin Similarity Report Summary, AI Usage Disclosure Form (if applicable), and Peer
Review Summary before endorsement.
Table of Contents
The following contents follow the approved ISU module/digital IM format. Page numbers may be finalized by the
faculty developer after editing and printing.
Section Content Coverage
Front Matter Quality Assurance Note
Target learners, learning mode, required materials, user instructions, inclusive
Instructional Guide for Users
learning support
Rationale, relevance to program and course outcomes, SDG alignment,
Introduction
SMART instruction integration
Learning Outcomes Course Intended Learning Outcomes and module blueprint
Pre-Assessment Diagnostic questions
Lesson 1 What Is a Project Feasibility Study?
Lesson 2 Preparing the Project Summary
Assessment Summative assessment, short answer, performance task, rubric
References and Supplementary
APA 7 references, official sources, suggested materials
Materials
AI tool usage, Turnitin summary, peer review summary, compliance checklist,
Appendices
answer key
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Instructional Guide for Users
This module guides students through the preparation of the Project Summary component of a Project Feasibility
Study (PFS). It may be used for face-to-face, blended, or self-paced learning, and is best used alongside the other
modules in this series so students can eventually assemble a complete PFS.
Component Description
BSBA students enrolled in Project Feasibility Study Preparation, or
Target Learners
entrepreneurship/management students preparing a capstone business plan.
Prerequisite Knowledge Basic accounting, marketing principles, and general management concepts.
Guided classroom learning, LMS-assisted blended learning, or self-paced
Learning Mode
modular learning.
Two lessons; approximately 5 to 7 hours of student engagement including
Estimated Time
readings, activities, computations, and assessment.
Printed/digital module, calculator or spreadsheet application, notebook, and
Required Materials
access to sample industry data.
Completed diagnostic check, guided activities, a draft Project Summary
Expected Output section of the student's own project feasibility study, and summative
assessment.
How to Use this Module
1. Begin with the module introduction and outcomes so you understand the purpose and expected learning evidence.
2. Answer the pre-assessment honestly. It is diagnostic and helps you identify what you already know and still need
to learn.
3. Read each lesson carefully, paying attention to concept boxes, formulas, tables, and worked examples.
4. Complete the guided learning activities before proceeding to the formative check, since these build the actual
section of your feasibility study.
5. Write your reflection answers in your learning journal to connect theory with practice.
6. Take the summative assessment and complete the performance task. Review the rubric before submitting your
output.
7. Consult your instructor if you need clarification, accessible format, additional examples, or learning
accommodations.
Inclusive Learning Support
● The module provides varied tasks: reading, tables, computations, case analysis, reflection, and
performance-based output.
● Students may use assistive tools such as text-to-speech, enlarged text, speech-to-text, spreadsheet formulas,
or graphic organizers as needed.
● Outputs may be submitted in written, oral, visual, or digital format when the instructor allows reasonable
accommodation.
● Instructors are encouraged to apply Universal Design for Learning by providing multiple means of
engagement, representation, and expression.
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Introduction
Rationale
Every business idea begins as an assumption. A Project Feasibility Study (PFS) is the tool entrepreneurs, managers,
and financiers use to test that assumption before committing capital, time, and effort. For future business
administrators, learning how a PFS is structured — and how to write a clear, well-supported Project Summary — is
a foundational professional skill. This module introduces the nature, purpose, and life cycle of a PFS, then walks
students through preparing the Project Summary, the section that gives any reader a fast, accurate 'capsule view' of a
proposed venture.
Relevance to Program and Course Outcomes
Outcome Level Module Alignment
Demonstrate mastery of business planning, analytical, and decision-making
Program Outcomes
skills needed to evaluate the viability of a proposed enterprise.
Prepare a complete and well-supported Project Summary section of a project
Course Outcomes
feasibility study.
Apply systematic, evidence-based analysis to entrepreneurial and investment
Professional Practice
decisions.
Diagnostic assessment, guided computations/analysis, case activity, reflection,
Evidence of Learning
quiz, and a draft feasibility study section.
Alignment to the Sustainable Development Goals
This module supports SDG 8: Decent Work and Economic Growth, by equipping future entrepreneurs and managers
with the analytical tools to launch sustainable, well-planned enterprises, and SDG 9: Industry, Innovation, and
Infrastructure, by promoting disciplined, evidence-based investment decisions.
SMART Instruction Integration
SMART Element How it is Demonstrated in the Module
Uses a reusable module structure, real industry data sources, and reflection
Sustainable
tasks that build toward a complete feasibility study.
Includes outcomes, diagnostic check, formative activities, summative
Measurable
assessment, rubric, and answer key.
Provides clear instructions, worked examples, tables, and options for
Accessible
reasonable accommodation.
Uses Philippine business examples, current industry practice, and locally
Responsive
relevant policy anchors.
Provides spreadsheet-ready computations, supplementary links, and optional
Technology-enabled
digital submission of outputs.
Course Intended Learning Outcomes (CILOs)
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
● CILO 1. Explain the nature, purpose, and components of a project feasibility study.
● CILO 2. Trace the stages of the project development cycle from conception to appraisal.
● CILO 3. Prepare a complete and well-organized Project Summary for a proposed business venture.
● CILO 4. Distinguish feasibility criteria appropriate to private-sector versus government-assisted projects.
● CILO 5. Demonstrate professional and ethical judgment in presenting preliminary business assumptions.
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Pre-Assessment / Diagnostic Questions
Instruction: Answer the following questions before studying the lessons. This activity will not be graded as a final
measure of performance. It is intended to help you determine your prior understanding of the topic.
1. What do you think is the purpose of a feasibility study?
2. Have you ever seen a business fail? What do you think could have prevented it?
3. What information would you want to know before investing your own money in a business?
4. What do you understand by the term 'project development cycle'?
5. Why might a study 'recommend against' pursuing a project even if the idea sounds appealing?
6. What is the difference between a pre-feasibility study and a full feasibility study, in your own words?
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Lesson 1: What Is a Project Feasibility Study?
Lesson Overview
Estimated Learning Time: 2 to 3 hours
Lesson Learning Outcomes
● Define a project feasibility study and identify its major component studies.
● Explain why the market study is generally considered first among the components.
● Trace the stages of the project development cycle.
● Explain the 'Go' or 'No-Go' decision point and its consequences.
Engage: Opening Case
Two friends, Mia and Carlo, want to open a milk-tea shop near a university. Mia says, 'I've seen how busy the other
milk-tea shops get — let's just start!' Carlo hesitates: 'What if the market is already saturated? What if our rent is too
high for the volume we can realistically sell?' Mia and Carlo represent two very different approaches to starting a
business.
Guide Questions: Whose approach carries more risk, and why? What specific questions should Mia and Carlo
answer before investing? Would a feasibility study guarantee their success? Why or why not?
1.1 Defining a Project Feasibility Study
A Project Feasibility Study (PFS) is a thorough and systematic analysis of all the factors that affect the chances of
success of a proposed undertaking. Rather than being a single analysis, a PFS is a synthesis of several separate but
interrelated studies, each examining a different dimension of the same proposed venture.
Component Study Central Question It Answers
Is there sufficient unsatisfied demand for the product or service, and can the
Market Study
venture capture a share of it?
Can the product be produced efficiently, at the right quality, and at a
Technical Study
reasonable cost?
Financial Study Will the venture be profitable, liquid, and able to service its financing?
Socio-Economic Study Does the project generate net benefits for society and the broader economy?
Organization and Management
Is there a workable structure and qualified people to run the venture?
Study
Environmental Impact Study Will the project's environmental effects be acceptable and properly managed?
The findings of a PFS become the basis for one of three decisions: to pursue the project as planned, to revise it, or to
abandon it. It is important to set realistic expectations about what a PFS can do. A feasibility study is not an antidote
for failure and does not guarantee success — its purpose is to improve the probability of success by replacing
guesswork with a carefully planned, evidence-based analysis.
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
1.2 Why the Market Study Comes First
Although a PFS eventually addresses profitability, demand is the most basic issue of all. If no one wants to buy the
product, there is nothing to analyze technically, finance, or manage. This is why the market study is typically
undertaken first, and why its conclusions shape every study that follows: production volume (technical study)
depends on projected sales, financing needs (financial study) depend on production and marketing costs, and so on.
1.3 The Project Development Cycle
Every project passes through a recognizable sequence of stages known as the project development cycle:
1. Project Identification — an idea is conceived, often from a regional, sectoral, or personal opportunity.
2. Pre-Feasibility Study (optional) — a generalized, lower-cost study to screen out clearly unviable ideas before
committing to a full study.
3. Project Feasibility Study — the detailed, analytic, and systematic presentation of findings covering market,
technical, financial, socio-economic, and management aspects.
4. Evaluation and Negotiation — the study is presented to financiers or investors, who may request revisions.
5. 'Go' or 'No-Go' Decision — the project is either pursued, revised, or shelved based on the evaluation.
6. Implementation — if approved, the project moves into construction, hiring, and operations.
7. Appraisal — actual results are compared against the figures projected in the PFS, often using scheduling tools
such as PERT/CPM (Program Evaluation and Review Technique / Critical Path Method) to manage variances in
performance, schedule, and cost. The appraisal stage closes the loop: lessons learned from implemented projects
inform how future feasibility studies are prepared, making the project development cycle continuous rather than
linear.
Guided Learning Activity 1: Mapping the Project Development Cycle
In pairs, choose a simple business idea (e.g., a food cart, a tutorial center, an online resale shop). Trace it through
each of the seven stages of the project development cycle, writing one or two sentences describing what would
realistically happen to your idea at each stage.
● Identify which component studies (market, technical, financial, socio-economic, management,
environmental) would be most critical for your chosen idea, and explain why.
● Describe one realistic circumstance that could result in a 'No-Go' decision for your idea.
● Explain how PERT/CPM could help once the project is implemented.
Formative Check 1
1. In your own words, explain why a PFS is described as a 'synthesis' rather than a single study.
2. List the seven stages of the project development cycle in order.
3. Explain the difference between a pre-feasibility study and a full feasibility study.
Reflection Questions
● Why do you think some entrepreneurs skip a feasibility study altogether? What risks are they accepting?
● How might 'gut feel' and a formal feasibility study work together rather than in conflict?
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Lesson 2: Preparing the Project Summary
Lesson Overview
Estimated Learning Time: 2 to 3 hours
Lesson Learning Outcomes
● Identify the required elements of a Project Summary.
● Distinguish feasibility criteria appropriate to private versus government-assisted projects.
● Draft a complete Project Summary for a proposed venture.
Engage: Opening Case
Imagine you are a bank loan officer with fifteen loan applications on your desk and only one hour before your next
meeting. Each application includes a full feasibility study — some over 80 pages long. You cannot read every page
of every study today.
Guide Questions: What single section would you want to read first to quickly judge each proposal? What key facts
would need to be in that section for you to make a preliminary judgment?
2.1 Purpose of the Project Summary
The Project Summary is the first major section of a PFS. It presents the highlights, descriptive definition, long-range
objectives, feasibility criteria, history, and basic conclusions of the project, giving the analyst and financier a fast,
accurate 'capsule view' of the entire study before they read the detailed sections that follow.
2.2 Required Elements of the Project Summary
Element What It Covers
A. Name of the Enterprise The proposed business name and the reasoning behind the choice.
Head office and plant/store site, and the reasons for choosing them (raw
B. Location
materials, labor, utilities, proximity to market, transportation, cost of land).
Whether the project aligns with a national or local development program, is
C. Descriptive Definition of the
linked to encouraging regional or sectoral findings, and a conceptual
Project
description of its potential and the proponent who will manage it.
What the project expects to achieve in ten years — size, capacity, volume,
D. Long-Range Objectives
worth, industry role, and economic impact.
The most important guideline(s) used to judge feasibility — profitability
E. Feasibility Criteria
alone, or profitability plus socio-economic impact.
History (how the idea came about), timetable and status, nature of the
F. Highlights of the Project
industry, mode of financing, and investment costs.
G. Major Assumptions and Summary A brief statement of conclusions from each component study: market,
of Findings technical, financial, socio-economic, and management feasibility.
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2.3 Feasibility Criteria: Private-Sector versus Government Projects
Not every project is evaluated the same way. Private-sector proponents generally treat profitability as the primary
decision criterion, since their own capital and returns are at stake. Government or donor-assisted projects, by
contrast, often place socio-economic desirability above pure profitability — a project may proceed even at modest
financial returns if its social benefits (employment, community development, essential goods access) are significant.
Recognizing which criterion applies to a given project shapes how the entire Project Summary — and later the
Socio-Economic Study — should be framed.
Guided Learning Activity 2: Drafting a Project Summary
Using the business idea you selected in Lesson 1 (or a new one approved by your instructor), draft a one-page
Project Summary following elements A to G above. Work individually or in pairs.
● State your proposed enterprise name, location, and the reasoning behind each.
● Write one long-range (10-year) objective for your project.
● State which feasibility criterion (profitability, socio-economic desirability, or both) is most appropriate for
your project and justify your choice.
Formative Check 2
1. List the seven required elements (A–G) of a Project Summary.
2. Explain the difference in feasibility criteria typically used by private-sector versus government-assisted projects.
3. Why is the Project Summary usually written last even though it appears first in the document?
Reflection Questions
● If you were pitching your own project idea to an investor, what would you want your Project Summary to
emphasize most, and why?
● How does writing a clear Project Summary demonstrate professional and ethical responsibility to a
prospective financier?
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Summative Assessment
Instruction: Answer the following assessment after completing all lessons in this module.
Part I. Multiple Choice
1. A Project Feasibility Study is best described as:
A. A single financial forecast
B. A synthesis of market, technical, financial, socio-economic, and management studies
C. A marketing brochure for investors
D. A legal document required only for government projects
2. Which component study is typically undertaken first, and why?
A. Financial Study, because profit matters most
B. Technical Study, because production must be planned first
C. Market Study, because there is no basis for other analyses without confirmed demand
D. Socio-Economic Study, because government approval is needed first
3. The primary purpose of a PFS is to:
A. Guarantee the success of a venture
B. Improve the probability of success through evidence-based planning
C. Satisfy legal registration requirements only
D. Replace the need for financial statements
4. Which of the following is NOT one of the seven stages of the project development cycle described in this
module?
A. Project identification
B. Pre-feasibility study
C. Employee onboarding
D. Appraisal
5. PERT/CPM techniques are primarily used during which stage?
A. Project identification
B. Implementation
C. Pre-feasibility study
D. Drafting the Project Summary
6. The Project Summary is best described as:
A. A legal contract between financier and proponent
B. A capsule view of the whole feasibility study
C. A detailed financial statement
D. An optional appendix
7. Which criterion is typically prioritized by government-assisted projects over pure profitability?
A. Market share
B. Socio-economic desirability
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C. Brand recognition
D. Technical complexity
8. Long-range objectives in a Project Summary typically cover a period of:
A. 6 months
B. 1 year
C. 10 years
D. 50 years
9. A 'No-Go' decision means:
A. The project must be revised only
B. The project is found too risky to proceed and is shelved
C. The financier automatically approves the loan
D. The market study is skipped
10. Which statement about feasibility studies is most accurate?
A. They guarantee project success
B. They are useless in times of uncertainty
C. They enhance, but do not guarantee, the probability of success
D. They are required only for large corporations
Part II. Short Answer
1. Explain why a project feasibility study is described as pervading 'the entire life of a project.'
2. Describe the relationship between the market study and the other component studies of a PFS.
3. Compare the feasibility criteria that a private investor and a government agency might apply to the same proposed
project.
4. Explain the purpose of the 'appraisal' stage in the project development cycle.
5. Why must the Project Summary remain accurate even though it is often the only section busy readers fully read?
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Performance Task
Project Summary Draft
Using a business idea you may want to develop further in this module series (you will build on this same idea in the
Market, Technical, Financial, Socio-Economic, Organization and Management, and Environmental Impact
modules), prepare a complete, one- to two-page Project Summary.
Required Parts of the Output
● Name of enterprise and location, with justification
● Descriptive definition of the project (national program alignment, potential, and proponent)
● One long-range (10-year) objective
● Stated feasibility criteria with justification
● Highlights: brief history/origin of the idea, target timetable, nature of the industry, intended mode of
financing, and rough investment cost estimate
● A short paragraph anticipating the major findings you expect from the market, technical, and financial
studies
Rubric for Performance Task
Criteria 4 - Excellent 3 - Proficient 2 - Developing 1 - Beginning
All required Most elements are Several elements are Most required
Completeness elements are present present with minor missing or elements are
and well-developed. gaps. underdeveloped. missing.
Ideas are logically Mostly clear with
Clarity and Organization is
sequenced and easy minor organizational Difficult to follow.
Organization inconsistent.
to follow. issues.
Assumptions are Assumptions are Assumptions are
Realism of Assumptions are
realistic, specific, vague or only partly unrealistic or
Assumptions mostly realistic.
and justified. realistic. unsupported.
Clear, well-reasoned Reasonable
Feasibility Criteria Justification is weak No justification
justification of justification
Justification or unclear. provided.
chosen criteria. provided.
Well-formatted,
Professional Minor formatting or Noticeable errors Poorly formatted or
error-free, and
Presentation language errors. affecting readability. unclear throughout.
professional in tone.
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
References
Development Academy of the Philippines. (2012). How to prepare project feasibility studies (Revised ed.).
Development Academy of the Philippines.
Board of Investments. (n.d.). Guidelines for the preparation of project feasibility studies. Department of Trade and
Industry.
Asian Development Bank. (2004). Pre-feasibility study report format (Rev. 3).
Department of Trade and Industry. (n.d.). MSME resources and business registration guidelines.
[Link]
Supplementary Materials
Material Type Suggested Use
DAP's How to Prepare Project Feasibility Studies (full text) and BOI/DTI
Official guides
feasibility study guidelines
Anonymized sample Project Summaries from past student outputs, for
Sample studies
structure reference only
Graphic organizers Project development cycle flowchart template
Downloadable module PDF, discussion forum prompt, and upload link for the
LMS resources
performance task
Appendices
Appendix A. Declaration of AI Tool Usage
Instruction: This form is required only when AI tools were used in developing the instructional material. The author
remains responsible for validating, revising, citing, and ensuring the originality and accuracy of all content.
AI Tool Purpose of Use Extent of Use
Assisted in organizing and expanding lesson materials
Claude / ChatGPT into module format; generated initial draft of activities, Extensive
assessments, and rubrics for expert validation.
May be used by the author to check grammar, spelling,
Grammarly / Editor Minor / Moderate
punctuation, and clarity.
Specify purpose clearly: Minor / Moderate /
Other: ___________
________________________________________ Extensive
Author's Certification: I certify that any AI-assisted content has been reviewed, verified, revised, and properly
integrated with my own academic judgment and authorship.
Author / Developer Signature: ______________________________ Date: ______________________________
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Appendix B. Turnitin Similarity Report Summary
Item Details
Title of IM Introduction to Project Feasibility Studies and the Project Summary
Author / Developer [Insert Faculty Developer Name], DBA / Faculty Developer
Date Checked ______________________________
Overall Similarity Index __________ %
Highest Single Source __________ %
AI Writing Detection Result, if available __________ %
Result Within Approved University
Yes ___ No ___
Threshold
Action Taken Accepted ___ Returned for Revision ___ Rechecked ___
Appendix C. Peer Review Summary
Review Area Action Reviewer Comments
Accepted ___ For
Content Accuracy and Relevance ________________________
Revision ___
OBE Alignment and Instructional Accepted ___ For
________________________
Design Revision ___
Accepted ___ For
Clarity, Structure, and Readability ________________________
Revision ___
Assessment Quality and Rubric Accepted ___ For
________________________
Alignment Revision ___
Inclusivity, Gender Sensitivity, and Accepted ___ For
________________________
Accessibility Revision ___
Accepted ___ For
Ethical Compliance and References ________________________
Revision ___
Overall Recommendation: Approved as is ___ Minor Revision ___ Major Revision ___ Not Recommended ___
Reviewed by: ________________________________ Date: ________________________________
Appendix D. Final IM Compliance Checklist
Checklist Item Status
Cover page contains all required details Yes ___ No ___
Table of Contents is updated Yes ___ No ___
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Isabela State University | Introduction to Project Feasibility Studies and the Project Summary
Instructional Guide for Users is included Yes ___ No ___
Introduction includes rationale, outcomes relevance, and SDG alignment Yes ___ No ___
CILOs and lesson outcomes are measurable Yes ___ No ___
Lesson content includes pre-assessment, discussion, activities, and reflection Yes ___ No ___
Formative and summative assessments are aligned with outcomes Yes ___ No ___
Rubrics are included for performance-based output Yes ___ No ___
References are in APA 7th edition format Yes ___ No ___
Turnitin report and AI disclosure, if applicable, are attached Yes ___ No ___
Peer review comments were addressed Yes ___ No ___
Module is ready for College/Campus endorsement Yes ___ No ___
Appendix E. Answer Key
Multiple Choice Answer Key:
Item Answer
1 B
2 C
3 B
4 C
5 B
6 B
7 B
8 C
9 B
10 C
Short answer and reflection responses should be scored using accuracy, completeness, connection to the module's
core concepts, and clarity of explanation. The teacher may prepare a more detailed analytic rubric if needed.
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