MIS project initiation: what does a study project proposal typically include before a full feasibility study proceeds?

Introduction / Context:
Before committing significant resources, organizations prepare a study project proposal (sometimes called a pre-feasibility or terms-of-reference document). It justifies undertaking a detailed feasibility study by outlining expected benefits and the cost of the study itself, ensuring prudent governance and budget control.

Given Data / Assumptions:

• Management needs enough information to decide whether to fund the full study.
• The document summarizes anticipated business impact and required study effort.
• The proposal precedes detailed analysis and design work.

Concept / Approach:
A sound study project proposal includes an initial benefits hypothesis (e.g., profit improvement, cost savings, risk reduction) and a budget for conducting the feasibility work (analysts’ time, stakeholder workshops, tool licenses, data collection). This combination enables a go/no-go decision based on expected value versus the cost of investigation.

Step-by-Step Solution:

Verification / Alternative check:
Project governance standards (stage-gate, PRINCE2, PMBOK) call for an initial business case and an estimate of the cost to develop the full business case—mirroring (a) and (b).

Why Other Options Are Wrong:
Choosing only (a) or only (b) omits necessary information for sponsorship; “neither” is incorrect because proposals routinely contain both.

Common Pitfalls:
Inflated benefit claims without evidence; underestimating study costs; failing to define scope boundaries and success criteria for the feasibility phase.

Final Answer:
both (a) and (b)