Feasibility Study

Feasibility Study

An assessment of a project's viability by evaluating critical elements to determine successful execution.

Key Benefits

Advantages of a feasibility study, including clear project focus, exploration of alternatives, risk identification, and increased investment likelihood.

Financial Feasibility

Analysis determining if a project is financially viable and profitable.

Technical Feasibility

Evaluation of whether the organization has the necessary technical capabilities for the project.

Operational Feasibility

Assessment of the project's positive impact on the organization's operations.

Schedule Feasibility

Determination of whether the project can be completed within the required timeframe.

Market Feasibility

Investigation of the demand for the service or product in the market.

Regulatory Feasibility

Evaluation of the project's compliance with legal and regulatory standards.

Components of a Feasibility Study

Sections that systematically evaluate project aspects, including finances, risks, and resources.

Steps in Conducting a Feasibility Study

A structured process including preliminary analysis, stakeholder input, resource identification, and implementation strategies.

Elite Stationery Example

A case study illustrating the structured steps of conducting a feasibility study for office space redesign.

Focus and Alternatives

The ability of a feasibility study to direct attention to critical areas while exploring alternative approaches.

Narrowing Business Options

The process of eliminating non-viable solutions to enhance decision-making efficiency.

Risk Mitigation

Early identification of potential risks to avoid costly mistakes in project execution.

Informed Decision-Making

Providing quality insights for well-thought-out project decisions.

Proof of Research

Demonstration that the project selection process was thoroughly researched through a feasibility study.

Securing Investment

Increasing chances of obtaining loans or funding by showcasing project viability.

Roadmap for the Project

Serving as a guide throughout the project's lifecycle to ensure stakeholder alignment.

Organisational Feasibility

Consideration of the long-term psychological effects of a project on employees and stakeholders.

Executive Summary

A concise overview of the study's findings, typically written last and representing 5-10% of the report.

Project Description

Clear outline of the project's objectives and key stakeholders involved.

Competitive Landscape Analysis

Examination of competitors, including a SWOT analysis to evaluate strengths, weaknesses, opportunities, and threats.

Operating Requirements

Details on resources, equipment, human capital, and timelines needed for project completion.

Financial Projections

Focus on financial feasibility, including ROI forecasts, cash flow, and expense budgets.

Recommendations and Findings

Summary of conclusions and practical recommendations based on research, ensuring actionability within the study's validity period.