Feasibility studies

Feasibility Study Phases

A feasibility study is a crucial tool for evaluating the potential success of a project. The phases of a feasibility study include:

  1. Preliminary Analysis: This phase involves interviews with stakeholders, conducting market research, and preparing an initial business plan. This helps in making an initial decision on whether to proceed or halt the project.
  2. Actual Study: If the decision is made to move forward, the actual study begins and includes:
    • Technical Feasibility: Identifying the necessary technologies and human resources.
    • Financial Feasibility: Estimating total costs and expected returns.
    • Market Feasibility: Analyzing the market, competition, and consumer demand.
    • Organizational Feasibility: Outlining the organizational structure for the management team.

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