What is the difference between a business plan and a feasibility study? There is a big difference between the business plan and the feasibility study, which many people do not notice and make that mistake, which leads to delay in reaching the specified goal, especially if you do not use one of the companies specialized in that matter where they have a background greater than you have, so it will We explain how the difference is and what distinguishes the feasibility study from the business plan.
The difference between a business plan and a feasibility study
The feasibility study places great emphasis on the success of the proposed idea and whether or not it can be implemented.
An example of a feasibility study is that there are some chemical companies that want to establish a new chemical process
Hence the role of the feasibility study in explaining this matter and knowing its success by providing preliminary results or experimental operations.
While the work plan does not focus on specific conditions but rather aims to complete the specified work in an orderly manner
Therefore, some broad points are set that must be followed to achieve the goal of the work in record time.
From the above, the difference between them is clearly evident, so you should not confuse these things until you quickly reach your goal.
The importance of the feasibility study in project management
the importance of the feasibility study in project management The feasibility study is the main factor in project management, especially large projects, as when thinking about any project, you must know the extent of the investment that you are heading towards, and what specifically is the capital that you need, so the feasibility study companies clarify all the questions Which revolve in your mind in a simpleand scientific proof based on different studies