A feasibility study is a detailed comprehensive study carried out by anyone who wants to work on a new company or project, and this study is on paper before the application of this company or this project in a concrete and realistic way, the owner of the idea of the project to do a feasibility study of his project in a detailed way to Apply this project in the future and its success or it will be declared a failure by his residence.
What is a feasibility study?
A feasibility study is a study of utmost importance as it is given a prior result of the project and to conduct an effective feasibility study must be based on several axes to ensure the effectiveness of this study, where the feasibility study needs to clarify the technical, financial, social, environmental and future matters of the project and must explain that the idea of the project has a goal to be achieved otherwise there will be no benefit or feasibility of this project.
The owner of the idea authorizes the task of carrying out a feasibility study for competent companies to study the labor market to fit between the needs of the economic market and the final product resulting from this project, and to determine who are the most concerning the category of this product, and whether this product is of urgent need or is a surplus product of luxuries that can be dispensed with, the effective feasibility study provides the value of the price of the final product and whether this price suits the social situation of the target group or not.
The specialists study the material condition that must be provided by the project owner, and the extent to which this financial value covers the costs of establishing the project and salaries of employees, in addition to studying the virtual place to establish this project and determine the demographic suitability of the place with the safety and safety specifications of the project and the safety specifications of the population surrounding the actual project site, and determine the extent to which the product is easy to reach the category concerned at the end of production.
Importance of feasibility study
The feasibility study gives sufficient information about the projects before setting them up in fact and predicts what the project will turn into, i.e. shows the success rates of the project idea or failure, as follows:
* The feasibility study determines whether this project will add new to the labor market or it is a duplicate project and has several competitions that will eliminate the project in the bud.
The feasibility study shows whether the capital will cover the costs of this project or whether it will require loans or any financial transactions from any bank, and what is the method of payment of these loans and financial transactions, as well as the expected profits for this project, and after what specific period the profits will return, and whether these profits will cover the capital or not, and how much is the expected losses from the project, and the possibility of rectifying these losses or will lead to the loss of the whole project.
* The feasibility study provides a plan with the maximum and a minimum number of workers who can cover the project, and the minimum salary and remuneration.
The feasibility study is concerned with the optimal and accurate use of the resources owned by the owner of the project idea to prevent wastage or waste of these resources, especially in the case of scarce resources or in the case of the establishment of the project in a developing country of the third world.
The feasibility study indicates the possibility of Coordinating Human, material, and moral resources in the service of the success of this project or not.
The feasibility study is concerned with the geography of the project site and the density of the population in this place, what are the needs of the residents of this area, and whether the result of this project will benefit these residents or is it an excess product and luxury.
* The feasibility study shows the extent of the challenges that such projects can face, as well as the possibility of overcoming such challenges and obstacles, the possibility of switching some resources to avoid any obstacle, as well as the political and economic conditions of the project state, which is sure to affect the production line of the project.
The feasibility study helps to establish a system for the progress of the project in the case of its implementation and coordination between management and labor, and the feasibility study helps the project owner in the end to make a decision to implement the idea of a project or not and think about the idea of another more successful project.
Technical company for management consulting and feasibility studies
The technology company is one of the specialized and famous companies to provide management and financial consulting and conduct feasibility studies for economic projects in various fields and interests, through economists specialized in the fields of finance and business management for more than a decade, until it became the most trusted economic companies in the Arab and Western worlds.
The experts of the technology company are characterized by good management and quick response to customers besides professionalism in the work, and commitment to the dates of delivery of feasibility studies at the lowest cost compared to other similar companies, in addition to the ease of communication with them, whether through face-to-face interview or through specific phone numbers or through social networking sites throughout the day.
The technology company is your ideal choice for consulting and do a feasibility study of your new project before starting its implementation in order to help the success of the idea of this project and avoid the causes of its inability, the idea of the technology company to collect all the data and data of the project idea before the actual implementation of this project.
Then study these data and present them in their simplest form and know the outline on which the project will be based, so determine the possibility of the collapse of the project or its success, and clarify to what extent this project produces suitable goods to meet the needs and requirements of people.
But the most distinctive in the technology company is that it provides a feasibility study not only according to the local economy but also according to international markets and the possibility of exporting abroad, and the technology company provides practical solutions in an attempt to make the project successful and facilitate the difficulties that can lead to its shortcomings.
The most important services of a technology company for management consulting and feasibility study
It helps the client to establish the project in a practical way by finding a suitable location for the project that the owner of the idea wants, providing the necessary basics to start work even if it requires import from abroad, and contributing to finding trained labor at the highest level thus preserving the client’s time from being lost.
The consulting and feasibility studies provided by the technology company are not limited to specific areas such as industry only, but also provide feasibility studies in the agricultural, medical, educational, tourism, and other different economic fields that contribute to the lifting of the national economy.