Describe the importance of the feasibility study, the feasibility study is of very great importance in our life, as it greatly affects the success of the project that you are considering, because it shows you all aspects of the project and the needs required to implement it with the highest level of accuracy, so it is very important when Resorting to the implementation of any project on the ground, so it is recommended to do a feasibility study first before carrying out the implementation.
Describe the importance of the feasibility study
A feasibility study is an assessment of the potential impact of a proposed project or program.
Among the typical questions that any feasibility study should answer are:
1. Can it be done?
2. Is it needed?
3. Will it benefit users?
4. Will it be acceptable?
5. What are the alternatives?
6. Is there a preferred alternative?
7. Are the environmental impacts acceptable or can they be mitigated?
8. Is it affordable?
Any feasibility study aims to assist the person who wants to implement a specific project in determining whether or not to implement a specific project or program.
Then you can decide whether or not you can implement this project after answering all these questions.
It is therefore important to ensure that the person is handling correct assumptions and updated data.
But you have to keep in mind that a lot of projects fail because the assumptions of viability were based on incorrect facts/assumptions.
Feasibility study for a commercial project
Feasibility study for a commercial project When someone wants to invest his money in a commercial project, a feasibility study must be done before starting the implementation of this project. The profitability of the project and through which the decision is made to implement the project or not. See from here more details of a feasibility study for a commercial project