Feasibility A feasibility study is made when large sums are invested in a project, as the feasibility study is the one that predicts the success or failure of these projects, because it depends on analyzing and detailing the project to reach its cost and the extent of its profitability or loss, and economists have advised the necessity to conduct a feasibility study for the project Before starting it, because it provides you with the necessary data for the product to be produced, it also gives you accurate information about the market and the cycle of the production process and informs you of the obligations, whether they are licenses or tax obligations, all of this is provided by a feasibility study.
The utility of the feasibility study\
It is the one that gives you the answer if the project is implementable or not, and is this project worth investing your money in. The study answers this question as well.
What is the feasibility study?
It is a group of studies that are based on implementing an idea on the ground, as these studies give you data and information and predict the future success of this project or not, and whether it will achieve its goals economically and practically or not.
Mistakes that may occur in the study
Not thinking well, as some people, when they see an increase in investment, or that they predict failure, cancel the idea of studying
But in fact, the need to conduct the study to form a sound viewpoint on this project.
Preparing the study yourself, as the project owner prepares the feasibility study himself, it reduces its importance, and often the result is not required for the lack of the necessary expertise, so it is recommended that this work be assigned to the specialized offices because they have the competence and expertise that qualifies them for this work.
Poor selection of the work team, the feasibility study needs a work team, both in its specialization, it is assumed that the work team assigned to the feasibility study includes a specialist in market affairs, another specializing in technical study and another specializing in financial and economic study, so you get a feasibility study free of any errors Its numbers are much closer to reality.
A feasibility study is the preparation and planning of projects if they are service or production goods, and to ensure the success of the project to be implemented, proper planning must be done before starting it through a feasibility study, which includes many studies, including market study, technical study, financial and economic study.
Feasibility study of projects
Unemployment rates in our society have become high, which gave young people an incentive to search for small projects to start their life with, so you find young people today racing to study many projects in order to choose the appropriate project for them to set up, as the study sheds light on all aspects of the project from Technical, financial, and economic costs and study of the market, so this study is an actual study in order to help young people on how to start the project while they are on stable land, working and knowing what they do, unlike those who start the project without studying, they work without plans and often fall at the first obstacles because they are not fully aware of the project. Watch here