Preparing Feasibility Studies
Types of feasibility studies:
Contrary to popular belief, feasibility studies come in a variety of forms and are not just one type. By this, we do not mean that there are different commercial, industrial, service, and other sectors. we are referring to the feasibility study's size, type, nature, and substance as well as its breadth and professionalism. The varieties of feasibility studies for various projects are discussed in the lines that follow, along with tips on how to select the best type for your project.
Before going into the specifics of the study, this form of research verifies the project's feasibility study. Depending on the extent of the study, it might just look at one, two, or more areas. To prepare feasibility studies, it is necessary to have a specialist present, and he is the one who decides which aspect or aspects the earlier study needs.
For instance, in order to determine if a project may be performed or not, it may be necessary for it to analyze the legal implications and seek specific licenses from the government of the country.
To answer all questions about the crucial legal issues of the project, it can be necessary to complete a study with legal advisers. It, thus, has a significant impact on the project's success or failure.
Here, we examine the market and its needs from a variety of angles, the most significant of which are probably the competitors, the area, the accessibility, the client's needs and objectives, and the degree to which the company is able to participate in the markets and achieve the sustainability that any investor seeks.
In order to obtain a reasonable level of certainty regarding the number of competitors, their sizes, and their reputation among clients, as well as how the project might have a distinct advantage over rivals, the student is present in the field at the project's residence during the market study.
Our feasibility studies include:
Diagnostic studies that include a study of opportunities, risks, weaknesses, and strengths.
I necessary, find joint venture partners.
I necessary, technology resources and a knowledge base.
A report on the legal, tax, and regulatory environment.
An analysis of the industry.
Analysis of rival perceptions.
per-feasibility and financial feasibility studies.
Evaluation of the place and venue.
Analysis of the business life cycle.