Feasibility study is an assessment of the practicality of a proposed project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the natural environment, the resources required to carry through, and ultimately the prospects for success. Feasibility study pdf free its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.
A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, accounting statements, details of the operations and management, marketing research and policies, financial data, legal requirements and tax obligations. Generally, feasibility studies precede technical development and project implementation. It must therefore be conducted with an objective, unbiased approach to provide information upon which decisions can be based. A project feasibility study is a comprehensive report that examines in detail the five frames of analysis of a given project.
The goal is to determine whether the project should go ahead, be redesigned, or else abandoned altogether. The four Ps are traditionally defined as Plan, Processes, People, and Power. POVs are Points of Vulnerability: they differ from risks in the sense that they are internal to the project and can be controlled or else eliminated.