Feasibility Study Notes: Definitions & Explanations PDF | Download eBooks
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Feasibility Study Definition:
Feasibility study is used to validate that the project meets feasibility of cost, technological, safety, marketability, and ease of execution requirements.
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Feasibility Study Notes:
An organization can identify several different opportunities for a new project. The top management of the organization is responsible to see which opportunity could be exploited in favor of the organization. This means that a project must be selected based on a pre-defined selection criteria. The process of project selection is divided into two parts. One of them is called feasibility study. Feasibility study is used to check the viability of a project, indicating whether it is possible to carry out a project at all levels or not. Feasibility study includes the study of technical aspects, market related aspects, safety aspects and ease of implementation/practicality of a project option. Feasibility study can be performed by the executives of the organization or it can be assigned to people outside the organization e.g. consultants.
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