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Why is feasibility analysis necessary to be conducted for any project?
Wiki User
∙ 12y ago
A Feasibility Analysis is used to figure out the pro's & con's of taking up the project and most importantly to find out if the organization has the money and other resources required to finish the project.
Let us say there is a project to construct a 100 floor apartment complex, a major real estate developer like DLF will have the resources and the funding required to construct it without any hiccups. Whereas, if you and me had just started a construction/real-estate company will we have enough funding and man-power to pull it off? If we do a feasibility study we will realize that we cannot do it and we will not attempt the project.
The purpose of feasibility study is to identify the benefits of implementing a project and most importantly whether we can implement it.
Wiki User
∙ 12y ago
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How is feasibility and requirement analysis related?
The first step in SDLC is to gather requirements. After gathering requirements these requirements are analysed, if all the requirements are gathered then more feasible the project will be.
What is project feasibility?
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.
Why is feasibility study important?
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.
What is the difference between feasibility and viability?
Assuming that the question relates to an investment appraisal, feasibility looks mainly at the profitability of the project, and viability looks at the likelihood of survival.
What are the differences between project report and feasibility report?
Feasibility report means whether a project is worth taking? since a project involves huge outlay if it is not feasible then it may be dropped.Feasibility report tells whether it is worth undertaking a particular project or not Project report on the other hand details out everything who are the promotors ,about the capital assets,how it is planned to be funded,Projected cash flows and projected balance sheet etc ,its marketing plans i.e everything in deatil about the projec t
What are the content of the feasibility study?
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.
Project feasibility format?
you can do feasibility analysis by evaluating the following parameter; market,financial,technical and legal.
What is feasibility studies on construction project?
I am a principal with an international consulting firm that provides economic, financial, and engineering analyses for clients considering the implementation of multi-billion dollar infrastructure and industrial projects across the globe. Our team consists of 20 PhDs and 5 MBAs. Thus, consider my response for what it is worth... Feasibility studies are necessary studies that are conducted prior to implementation of a project. The operative word in "feasibility study" is "feasibility," though most people seem to overlook that basic concept. In general, a feasibility study will address whether a project should be implemented. The study is but one of many options that should be considered by owners in the decision analysis stage of a project. A feasibility study usually includes components such as an impact analysis, regulatory analysis, technical/engineering analysis, risk analysis, economic analysis, financial analysis, and financial mechanism analysis. Our studies require a high level of mathematical understanding in economics, fiance, and engineering. Most companies that offer to complete feasibility studies are simply not qualified to perform these studies, but many firms offer to take advantage of you, if you allow them. Studies such as that I have described herein require the competencies of engineers, accountants, and financial experts working collectively as a team to complete the study. A single person is usually not qualified to complete all sections of a study alone. In the end, the purpose of a feasibility study is simply to determine the feasibility of implementing a project.
What is feasibility plan?
The feasibility plan refers to an evaluation and analysis of the potential of a proposed project which is based on extensive investigation and research.
What is the general objectives of the feasibility study?
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.
Feasibility study in management information system?
A feasibility study is an evaluation and analysis of the potential of the proposed project which is based on extensive investigation and research to give full comfort to the decision makers.
What is feasibility study and give the ten stages of feasibility study?
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.
Explain feasibility study detail with suitable example?
A feasibility study is an evaluation and analysis of the potential of the proposed project which is based on extensive investigation and research to give full comfort to the decisions makers.
What are the things that are considered in a project feasibility study?
A project feasibility study should address the following questions:Is the goal of the project clearly stated?Does a SWOT analysis make this proposed project seem more or less attractive?Is the business case clear and complete, and does it take environmental (external) factors into consideration?Does the proposal have a strong sponsor and a clear governance model?Is the expected duration of the project within the window of business opportunity?Will the stakeholders and staff have enough available time to work on the project? If not, is there sufficient budget to back-fill?Has a stakeholder analysis been conducted, and are there any stakeholders with significant influence who are against the project or its results?Has an initial risk analysis been conducted? Is there a budget for risk transfer and mitigation? Is it commensurate with the organization's risk tolerance?What are the primary regulatory compliance considerations, and does the organization have the capacity to ensure compliance both during the project and once in production?Are the necessary resources and inputs, technical processes, and materials available? (see "unobtanium" ...) In other words, is it even do-able?Will the organization be prepared to support the product once the project is completed (let's not buy or build something we can't afford to own)?
Project feasibility study example?
sample of feasibility study
What has the author David S Clifton written?
David S. Clifton has written: 'Project feasibility analysis' -- subject(s): Capital investments, Marketing research, Project management
What is economic feasibility How do you know if a project is economically feasible?
Economic feasibility is the analysis of a project's benefits and costs. The purpose is to help management decide whether or not they should continue. If the future benefits outweigh the estimated cost of developing or acquiring the new system then it is economically feasible.
