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 feasibility study is the tool by which it is possible to determine whether the project achieves its goals or not, and through this study it can determine The profitability of the project and through which the decision is made to implement the project or not.
Feasibility study for a commercial project
Determining at the outset the idea on which the project is based and what is its commercial nature, and determining the objectives of the project, with knowledge of the financial capabilities from sources of financing, and knowing how much capital is placed, and how much manpower the project needs.
After knowing the idea of the project and defining its objectives, then determining the geographical location of the commercial project and choosing the geographical location has a major factor in attracting customers, and the choice of geographical location comes based on the type of target customers.
Then comes the complete engineering design of the project, which will be the competence of an engineer with sufficient and complete experience and expertise in such projects.
Then comes the beginning of the stage of the commercial project coming to light, and the customers’ knowledge of it through advertising campaigns in order to convince the target customers of the services and products of the project.
Developing a marketing plan that defines the way to deal with customers and the marketing methods.
Objectives of the feasibility study
The feasibility study for the commercial project is the one that establishes the methods of dealing with clients and how to manage the project. It is also considered a reference that the project owner can resort to at the time of the occurrence of obstacles and problems, and it is a market study through which he can identify the market and competitors and determine the size of the demand based on this study, Whereas, the feasibility study motivates the project owner and through this study he acquires the necessary experience before starting the project itself, and it determines the potential of the project and determines whether the project can continue or not, in addition to determining the profitability of the project and through it the project owner takes its implementation or cancellation. Therefore, we offer you the best companies specialized in providing a professional feasibility study due to what it contains from an integrated team that has great experience in creating professional feasibility studies, which is the technology company. It also provides you with a discussion service on the project you are thinking of, giving realistic ideas and more successful studies.
What are the differences between project evaluation and project monitoring?
What are the differences between project evaluation and project monitoring? Project evaluations are usually referred to the systematic review process of the project to see if the “objectives” of the project have been achieved or not, and project monitoring and evaluation is usually performed as part of the daily operations of the project with a very operational focus, as it and its monitoring look at the same basic elements. The project has a completely different perspective since it looks at it in a fundamental way, so undertaking project monitoring and evaluation can be exceptionally effective and useful in ‘lessons learned’ if these are taken into account when deciding on future projects. Watch here