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A viability study is crucial as it assesses the feasibility and potential success of a project or business idea. It evaluates various factors, including financial, market, technical, and operational aspects, helping stakeholders make informed decisions. By identifying potential risks and challenges early on, a viability study can save time and resources, ensuring that investments are directed towards projects with the highest likelihood of success. Ultimately, it serves as a foundational tool for strategic planning and risk management.

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