Feasibility Study Stages
A feasibility study is a critical tool for assessing the viability of a particular project. Stages include:
- Preliminary analysis: Includes stakeholder interviews, market research, and a preliminary business plan. This helps in making an initial decision to move forward or stop.
- Actual study: If it is decided to continue, the actual study begins which includes:
- Technical feasibility: Identify the technology and human resources needed.
- Financial feasibility: Estimating total costs and expected returns.
- Market feasibility: Analyze the market, competition, and consumer demand.
- Organizational feasibility: Create an organizational structure for the management team.
These stages help identify the factors that contribute to success. and provides financial insights into the project. For more information, please contact us to answer all your questions.