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a research framework that can regulate the pattern and intensity of relationships in the process of innovation that is manifest in social goals. We envisage that a three-level complex research can provide answers to the questions raised (Fig. 28).
Fig. 28 Framework model for the study of social innovation networks Source: Authors’ own elaboration
With the help of this framework model, the interpersonal and inter-organisational embedding of the organisation that implements social innovation, the content and form solutions of its relationship system, and the connections between these organisations may be analysed. We consider it important that in order to examine the set goals, the methodologies applicable to provide adequate responses may be recorded in the framework model.
Fig. 29 The process of preparing the feasibility study Source: Authors’ own elaboration
The feasibility study is a decision support tool that helps to choose between the different project variants, and analyses the complex conditions and variations of feasibility, as well as the expected results of the implementation in detail for each project variant. The purpose of the feasibility study is to provide decision-makers with adequate information on the financing, acceptance, modification or rejection of the proposed project.
Steps
During the preparation of the feasibility study, two or more project variants are identified and compared for the achievement of the original goal. Another task of the feasibility study is to enquire into the grounding and viability of the selected project (Daróczi, 2010). The preparation of the feasibility study may include the steps illustrated in Fig. 29.
In the case of projects where project proposals are prepared and plans and feasibility studies are submitted in accordance with the measures of a pre-planned and announced programme, the creation of social value may be judged in terms of meeting the following five qualification and evaluation criteria/questions:
- Relevance
Is the planned project in line with the community objectives set out in the announced economic development programme?
Is the project aimed at solving a genuine problem of the beneficiaries?
- Added value content (depending on the type of project, the added value may be of several types: it can consist of several components, which appear in a specific combination for each project)
o economic value content: as a result of the project, the sales revenue of the given company or region increases, the net income increases, new jobs are created, the willingness to invest increases, cheaper energy is used and tax revenues increase,
o social value content: emigration and the number of unemployed are decreasing in a given area, and economic activity is improving, income disparities are decreasing, the level of education is improving, and equal opportunities are improving,
o natural, environmental value content: the use of renewable energies is increasing, CO2 emissions are on the decrease, the production of organic food is increasing, the distribution of locally produced food is increasing, self-sufficiency is improving and the local economy is developing, etc.,
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o cultural value content: development in artistic creative activities, the level of education is increasing, the conditions for the renewal, enrichment and preservation of traditions are improving (ICT-based registration and the standard of public information are increasing) Is the project able to produce demonstrable and measurable added value compared to the initial state during its implementation?
- Feasibility
Is there a guarantee that the set goals, activities and time schedules included in the project plan can be achieved, or are realistically feasible?
- Sustainability
After the completion of the external support, will the results of the project be maintained (financial sustainability)? Do the technologies used in the implementation of the project meet the requirements of sustainable development? Do they guarantee fulfilment of environmental protection requirements?
Experience suggests that relatively few projects that seem to be excellent will be successful. During project generation, only a part of them reaches implementation.
A possible structure of the feasibility study is briefly summarised below. At the beginning of the study, it is definitely expedient to describe the strategic goal(s) that may be achieved through the project, to present the operating environment of the project outcome, and the system of criteria for the evaluation of project success. It is important that the partial studies are also evaluating analyses that meet the needs of the strategy-oriented project management approach and are based on the criteria that underpin success.
The following are the partial studies of the complex feasibility study included in the study volume:
- Technical feasibility study: it includes the presentation of the tools for creating the project result, and the analysis of resource and time requirements. This analysis needs to be conducted in all cases.
- Environmental and ecological impact study: it includes an analysis of the impact on the natural environment and the extent to which legal requirements can be met. It covers the performance phase and the operational phase. It only needs to be developed for projects where there is an environmental impact.
- Project marketing study: this section should explain the identification of stakeholders and their interests and expected behaviour. Its elaboration is necessary in each case.
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- Market study: it assesses the expected market acceptance of the project result in terms of sales volumes, prices and selling costs. It forms the basis for the calculation of expected revenues. It should only be prepared in projects where the project result can be sold in the market.
- Financial feasibility study: possible objectives:
o The capital required to create a project result, and/or the evaluation of its evolution over time.
o Assessment of the sources of financing, capital composition and capital costs.
o Evaluation of returns in the operating phase.
o Evaluation of return.
o Assessment of risks to return.
Its elaboration is necessary in each case.
- Risk study: the assessment of the risk factors affecting project objectives, and the quantification of their impact. Wording the fundamentals of a risk policy. Its elaboration is necessary in each case.
- Sustainability study: the assessment of technical (conditions for maintaining viability) and financial (analysis of financial sources of technical sustainability) sustainability.
- Study on the geographical location of the installation: only required for a project resulting in a new installation.
A feasibility study is usually the work of several experts, and the achievements of the various partial studies are interrelated. The feasibility study concludes with a summary section.
Term of use
In the case of projects implementing social innovation, the feasibility study may be compiled in whole or in part.
Visualisation
Each chapter of the feasibility study includes visualisation solutions.
Findings
The result of the study is an assessment of the feasibility and sustainability of the proposed project.
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