It aims to analyze and justify the project in terms of technical feasibility, business viability and cost-effectiveness. Once the study is done, a feasibility study report FSR should be developed to summarize the activity and state if the particular project is realistic and practical. The following definition gives a broader understanding of the document:
It may involve approaches to cutting costs, assessing a new business location, or developing a new technological system. The feasibility report assesses the supporting data and reasoning of each plan and provides a recommendation of which plan to implement.
Economic Feasibility An economic feasibility study reports on the cost factors of a proposed plan to an organization. If, for example, an organization requires a feasibility study on its payment-processing techniques, the report may assess the cost factors involving the functions of electronic funding, security measures and approvals applicable to both e-commerce and regular transactions.
With supporting data, the study would make a recommendation of the benefits and areas of improvement for both types of transactions. Operational Feasibility An operational feasibility report focuses on the effectiveness of the function of the operations of an organization. If a business has a global market, for example, an operational feasibility study could examine the roles within each of its divisions both locally and in each global office.
Based on the data of the study, the report could recommend that the organization consolidate and centralize certain departments for greater efficiency and cost-savings.
Market Feasibility If you are setting up a new retail store the right location plays an important role in the success of your business. A market feasibility study helps determine if your location is beneficial to your business.
The market-feasibility study inspects the surrounding community, identifies competition, lifestyle, shopping patterns and other influences. Analysis of the data in the market-feasibility study provides the basis of whether or not this location can drive the market for your business.
Technical Feasibility Each business needs an information system to store data. Before a system is built, a technical feasibility study can identify the potential challenges and problems that the system may encounter technically based on the requirements and goals of the business.
The study analyzes possible technical solutions to ensure that the system is achievable in its effectiveness to the business. The study identifies a number of technical options based on the business's resources and requirements and a final recommendation.A feasibility study will assist an individual entrepreneur, new start-up business, or an existing business to investigate the viability of a new product or service targeting new or existing customers and markets.
A feasibility study is a process that tests your idea's viability. It helps you to get a handle on whether your idea will fly or if it's likely to flop. Feasibility studies can also serve as a basis for creating a small business plan and a marketing plan, both of which you'll need going forward.
These 10 steps and considerations can get you started.
The Feasibility Analysis Whether you plan to expand an existing business, acquire an exist-ing business or start your own new business, this MontGuide will show you how to perform a basic economic feasibility analysis: a preliminary evaluation of your study how you can avoid them; and • Finally, make an informed.
report on feasibility study to start a restaurant in tambaram feasibility study to start a restaurant in thambaram table of content kaja-net.com content page no 1. i. introduction 1 2. ii. methodology 2 3.
kaja-net.comis and findings 3 4. iii focus group 3 5. iii interview schedule If you find it difficult learning how to write a feasibility study report in Nigeria, Africa, or anywhere else around the world, you could rather have an affordable feasibility study report service write you a bank and investor ready feasibility study report.
FEASIBILITY STUDY TEMPLATE. This Feasibility Study Template is free for you to copy and use on your project and within your organization. We hope that .