Feasibility Study
Feasibility Study
A feasibility study report, as the name suggests, is prepared to reveal whether a project/plan is feasible. It is an initial assessment of the practicality of a proposed project/plan.
A feasibility study is part of the initial design stage of any project/plan and it is conducted in order to objectively uncover the strengths and weaknesses of a proposed project or an existing business. It can help to identify and assess the opportunities, strengths, weakness and threats present in the natural environment, the resources required for the project, and the prospects for success.
Why Feasibility Study?
Feasibility studies are important to business growth and are an integral part of the business process. Feasibility study providesin-depth analysis of a proposed project, its method of development and cost-benefit factors, the feasibility study also outlines alternatives, highlights new opportunities and addresses and mitigates matters that could affect the organization negatively.
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