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Feasibility study for a project

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09 Nov 2020

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Feasibility study for a project

The elements of a feasibility study is a study carried out by an investor with the aim of setting up a project to invest his capital. This study explains to the owner of the capital returning from the establishment of the project through feasibility, and it includes many elements that show all the details of the cost of establishing the project and all the expenses before, during and after The production process in addition to knowing the profits and then making it easier for the project owner to take the decision to go ahead with the project or cancel it.

The elements of a feasibility study

Marketing feasibility study, through which he identifies several points, namely market knowledge, through which he knows the method of promoting his commodity, distribution, and knowledge of competing products in terms of specifications and prices, and accordingly determines the specifications of his product and its price.
Technical feasibility, which is upon which all other studies depend, such as financial, economic, social, and other studies. In no way can these studies be conducted except after the technical study, because it is the only one that, through its study, gives the establishment of the project or not technically.
The financial feasibility study of the project, through this study the investment and commercial costs are identified.
Economic viability, which is the financial evaluation of the project as a whole.
Social feasibility study, which is the process of distributing wages among workers according to each person and his specialization.

Importance of feasibility elements

Feasibility is not just one study, but rather several studies, each study completes the other, and it is like a planning process for a project that will be established in the future, and it is based on studying all fields for several years to come, to qualify the project to compete with other products in the market.

Who prepares the feasibility study

There are several consulting offices specializing in the work of studies, which include a group of experts and specialists in this field, and these offices can be accessed through the Internet, and there are some bodies that encourage small and medium enterprises, as they put several projects for you to choose from among these projects, The owner of the project or the owner of the capital can prepare the feasibility himself, but it is advised that you seek the help of one of the offices specialized in this field where they have the necessary experience.

The elements of a feasibility study Feasibility of a project

It is a study carried out by a specialist in creating a study for a project in which it deals with all aspects of financial, economic and technical studies and also includes the study of the market and the factors affecting the production process if they are internal or external factors in order to implement the project on the ground, as the feasibility guarantees the success of the project, it is a process Strategic planning for how to start the project and the study includes all stages of production until the end of the product exit if this is service products or consumer products. Watch here

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