Economic feasibility study The feasibility study is based on the study of the business issue and the costs required to implement the project on the ground, as the purpose of conducting the economic feasibility study is to know the electronic benefits and costs, so it is very important before implementing any project to know the most important economic aspects and how to deal with it over the period Therefore, we will get acquainted with the economic side of the feasibility studies.
Elements of a feasibility study
Public benefits
Increase revenue
Reduced revenue
Increasing costs
Where these elements must be taken into account and an explanation of each element in their details can be followed when implementing the project and used in the cost-benefit analysis. There must also be a separation between government and project-specific elements and the general public.
Business case
The business case is part of the feasibility study and is considered very important as it provides a special analysis of the required work environment and employment. It is also among the components of the feasibility study that must be taken into account as it is a description of the assumptions made in the feasibility analysis and the reasons behind those assumptions.
Ready study
A ready-made feasibility study when undertaking a specific project, this means that you will invest a lot of time, effort and money in that project, and here comes the role of the feasibility study that explains to you whether you can implement that project based on the results and benefits that accrue to you or not, as it explains whether There are ideas within the same scope of the project that you have in mind with better results than that or not so you must have a feasibility study ready for your project. Watch here