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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 else can I help you with?
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 importance of feasibility studies to an entrepreneur?
the importance of a feasibility study to an entreprenuer is profit oriented
What are the types of project feasibility factors?
The types of project feasibility factors are economic, technical, operational, schedule, legal and contractual, and political. Economic feasibility is the process of identifying the financial benefits and costs associated with a development project. Technical feasibility is the process of assessing the development organization's ability to construct a proposed system. Operational feasibility is the process of assessing the degree to which a proposed system solves business problems or takes advantage of business opportunities. Schedule feasibility is the process of assessing the degree to which the potential time frame and completion dates for all major activities within a project meet organizational deadlines and constraints for affecting change. Legal and contractual feasibility is the process of assessing potential legal and contractual ramifications due to the construction of a system. Political feasibility is the process of evaluating how key stakeholders within the organization view the proposed system
What are differences between project report and feasibility report?
A feasibility report is an investigation into whether a project is worth undertaking. The report looks at factors such as cost and time. A project report is exactly that - a report on a project which has been undertaken.
Prepare a feasibility study of cocoa production?
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.
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 differences between a project and a project proposal?
The project proposal is a document that studies the feasibility and the ROI of the project before the project is initiated.
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 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.
Aspects of feasibility studies?
An example of feasibility studies is visiting a place where you want to set a business to gauge the market demand. Feasibility studies will look at the practical risks involved in a business venture.
Explain all the inter-related types of feasibility studies?
What are the Types of Feasibility StudiesThere are many different types of feasibility studies; here is a list of some of the most common:Technical Feasibility - does the company have the technological resources to undertake the project? Are the processes and procedures conducive to project success?Schedule Feasibility - does the company currently have the time resources to undertake the project? Is the project completable in the available time?Economic Feasibility - given the financial resources of the company, is the project something that can be completed? The economic feasibility study is more commonly called the cost/benefit analysis.Cultural Feasibility - what will the impact on both local and general cultures be? What sort of environmental implications does the feasibility study have?Legal/Ethical Feasibility - what are the legal implications of the project? What sort of ethical considerations are there? You need to make sure that any project undertaken will meet all legal and ethical requirements before the project is on the table.Resource Feasibility - do you have enough resources, what resources will be required, what facilities will be required for the project, etc.Operational Feasibility - this measures how well your company will be able to solve problems and take advantage of opportunities that are presented during the course of the projectMarketing Feasibility - will anyone want the product once its done? What is the target demographic? Should there be a test run? Is there enough buzz that can be created for the product?Real Estate Feasibility - what kind of land or property will be required to undertake the project? What is the market like? What are the zoning laws? How will the business impact the area?Comprehensive Feasibility - this takes a look at the various aspects involved in the project - marketing, real estate, cultural, economic, etc. When undertaking a new business venture, this is the most common type of feasibility study performed.Arun Agrawal9456261654
What are the four main criteria used to test the feasibility of a project?
The four main criteria used to test the feasibility of a project are technical feasibility, economic feasibility, legal feasibility, and operational feasibility. Technical feasibility assesses whether the project's technology and resources can achieve the desired outcomes. Economic feasibility evaluates the cost-effectiveness and financial viability of the project. Legal feasibility examines compliance with laws and regulations, while operational feasibility considers whether the organization can effectively implement and sustain the project within its existing operational framework.
Project feasibility study example?
sample of feasibility study
Need of feasibility study for software development?
Feasibility studies would be done for lots of plans that an organisation might have. A software development project can be a long and costly process. So with a big project in mind, it is important to do a feasibility study and look and whether it is needed and at what options there are for progressing the project if it is going happen. This can save time and money for the project, rather than just starting and encountering many problems and delays.
Components of project feasibility?
1. Feasibility Study Request 2. Feasibility Study report
What are the main step to make a feasibility studies?
can somebody help me learn the techniques to make a very good feasibility studies?
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).
