Feasibility Study Notes: Definitions & Explanations PDF | Download eBooks
Study Feasibility Study lecture notes PDF with project management definitions and explanation to study “What is Feasibility Study?”. Study feasibility study explanation with project management terms to review project management course for online MBA programs.
Feasibility Study Definition:
Feasibility study is used to validate that the project meets feasibility of cost, technological, safety, marketability, and ease of execution requirements.
Project Management: A Systems Approach to Planning, Scheduling, and Controlling by Harold Kerzner?
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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