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The importance of a feasibility study has been debated within many companies for years. What has come out of the debate is there are those that think they know what the public wants and those that actually check to make sure their assumption is true.
By conducting a proper feasibility study, the target audience can be clearly identified along with their purchasing power. This process will determine the economic prowlness of a proposal by a business. This is an important part of a business case that should be done after a business idea is created but before it is technically developed and long before the production of any product is started.
In essence, a feasibility study is to determine the viability of a business venture in a specific area or sector of business. This is the process that will identify any possible problems that might occur between the acceptance of the product with the consumer and how profitable the business venture might be.
What else can I help you with?
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.
Components of project feasibility?
1. Feasibility Study Request 2. Feasibility Study report
What is the difference between project document and project feasibility report?
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).
Components of feasibility study?
The feasibility study has 2 components:1. Feasibility Study Request2. Feasibility Study Report
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.
Project feasibility study example?
sample of feasibility study
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.
Components of project feasibility?
1. Feasibility Study Request 2. Feasibility Study report
What is the importance of feasibility studies to an entrepreneur?
the importance of a feasibility study to an entreprenuer is profit oriented
What is the comparison between business plan and feasibility study?
Project feasibility study is required to make a decision whether the project proposal is technically and economically feasible? After finilisation of the project feasibilty report by the experts (technical & economical), the decision for going ahead for preparation of Detailed Project Report (DPR) for the project proposal. The answer is not detaial enough. key salient differences was not highlighted.
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.
What are the feasibility study and define each?
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.
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.
What is the difference between project document and project feasibility report?
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).
Which two of the following are activities in the Pre-Project Planning and Research process?
In the Pre-Project Planning and Research process, two key activities are conducting a feasibility study and stakeholder analysis. A feasibility study evaluates the project's viability regarding technical, economic, and legal aspects, while stakeholder analysis identifies and assesses the interests and influence of individuals or groups affected by the project. Both activities are crucial for ensuring that the project is strategically aligned and has the necessary support for successful execution.
What are the advantages and disadvantages of a project 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.
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.
