Feasibility study for a small project, the feasibility study is one of the basic steps necessary before carrying out any project, as it is one of the most important factors for the success of the project and achieving more goals required for the project.
It depends on the study of the aspects of the project, both technical and economic as well as financial, so you want to do a project must use the technical company, which is one of the most important companies specialized in the preparation of feasibility studies professionally and with a great deal of accuracy and speed.
Feasibility study for a small project
A feasibility study is one of the most important things that should be taken care of by the project owner in order to be able to succeed the project, as it contributes significantly in determining the financial and marketing expectations of the project, as well as developing alternatives available in the event of some risks for the project.
Therefore, it serves as a comprehensive view of the various dimensions of the project without considering the nature and quality of the project, as the feasibility study needs to do many necessary steps before starting the project.
Therefore, the feasibility study can be defined as a preliminary study of the project, it explains all the information about the project in terms of the initial cost, the necessary labor, and other basic requirements necessary for the project.
Basic objective feasibility study
Feasibility study for a small project and there are many goals to do a feasibility study before the start of the project and these goals are as follows:
Contribute significantly to the success of the project and achieve the desired goals of the project
Determine the size of material gains and losses expected over a specific period of time according to the nature of the project
Identify the strengths and weaknesses of the project in order to avoid the risks and damages that are expected to be exposed to the project.
Economic importance feasibility study
A feasibility study has great economic importance overlooked by many people and includes the economic importance of feasibility study on the following:
Explain all the basic needs needed for the project and determine the size of the economic resources needed by the project.
Showing the net profit of the project by determining the cost of the project and the expected profit of the project based on it determines the net profit.
The feasibility study allows many new ideas that work on the development of the project and compare the projects and choose the most important project by calculating the expected costs and expenses paid in the project and determining the profit congratulations from the project.
Enables investors to choose distinctive and successful projects and learn about different investment methods
They contribute significantly to clarifying many economic concepts that many investors do not understand.
Determine the amount of labor as well as the tools and equipment necessary for the project as well as the selection of the appropriate site for the project.
Feasibility study work steps
Feasibility study for a small project where the feasibility study depends on a set of different stages are necessary to obtain a comprehensive feasibility study for various aspects of the project and these stages are as follows:
Make a comprehensive plan
One of the most basic steps of the project is to make a comprehensive plan for the various aspects of the project as well as develop some alternative plans to face the challenges facing the project because this contributes to stopping the start of the project for a specific period of time.
Assign staff as per your need
When preparing the feasibility study, it must be determined the required labor for the project only and not for fame and number only and preferably be trained enough to allow it to run the project as soon as possible and the project owner must distribute them
Study the target market of the project
Particular attention should be paid to studying the market and identifying the needs of the markets, as this helps the success of the project in light of the changes and needs of the market.
It also works to strengthen the market and determine the size of the competition and there are many criteria on which the market is measured and these criteria are the size of the market and the types of products as well as the importance of products customers as well as the risk must be identified for the project.
This step contributes significantly to helping the entrepreneur how to manage the project well and determine the volume of demand for goods required by customers.
Technical company for management and financial consulting
A technology company is one of the best leading companies in the field of financial and management consulting, as it serves the project in all respects, whether financial, administrative, technical as well as economic.
It also helps the project owner in achieving the expected profits from the project significantly in addition that it is working to add new and distinctive ideas in order to contribute significantly to the development of the project and make it the focus of attention of many investors.