A feasibility study for a hospital helps an entity determine if a new hospital should be built. It can look at replacing an existing hospital or building in a new location.
It is the study on project feasibility which give you details whether a project can be successful or not, the time the project will take to be completed, and the cost of the project.
sample of feasibility study
1. Feasibility Study Request 2. Feasibility Study report
The feasibility study contents are: market analysis and the scope of the project; social and environment feasibility; technical feasibility; risk studies; preliminary cost assessment; the financial analysis; economic feasibility and project implementation outline. These help in the process of decision making of the proposed project.
Feasibility study is the evaluation of a proposed project. This is to determine if the project is technically feasible, feasible within estimated cost, and will be profitable.
Feasibility is the study of whether or not a project is worth doing. The process followed in making this determination is called a feasibility study. The main objective of the feasibility study is to prepare 1) Project Specification 2) Cost Benefit Analysis 3) Prepare Feasibility Report. The project specification has all the information about the project which is more like a guideline for the project. It gives a great insight to the management about the kind of investment involved for undertaking a project along with the manpower, hardware, software and other factors. Cost Benefit analysis is a method to identify the gross benefit involved in the development and implementation of a new system. Basically, it tells the organization whether they are economically prepared for the project. Feasibility Report contains various feasibility studies like:- Technical Feasibility Economic Feasibility Operational Feasibility Social Feasibility Time Feasibility Management Feasibility And Legal Feasibility.
I believe you mean the Project Initiation Document (not just Project Document). The feasibility study occurs before initiating the project. The project initiation document assumes that the project is approved, is feasible (on all levels), and aligns with the company strategy (as explained by the feasibility study).
One of the advantages of a project feasibility study is discovering if the idea will work before you spend money. Disadvantages to the study would include not being able to get started on a project as quickly as you might like.
Because, if you do not conduct a proper feasibility study before taking up a new project you wont even know if the project is feasible and can be completed. Taking up such a project is asking for failure to happen.
Because, if you do not conduct a proper feasibility study before taking up a new project you wont even know if the project is feasible and can be completed. Taking up such a project is asking for failure to happen.
Usually the Project Feasibility Study is the next stage after a project is proposed. Business requirements in projects may cause multiple projects to be proposed. But, it is during the feasibility study stage when experts try to figure out if the project is technically and financially feasible. Only if a project is feasible would it go the next stage where it will be initiated, planned and executed.
To prepare for a feasibility study of cocoa production, first come up with the most suitable idea for the project. Identify the need of this project, how, who, and where to produce, as well as costs involved.