Feasibility study for large projects, if you are planning to implement a project, whatever its size is small, medium or large, it is necessary to complete a study for this project before implementing it. To spend any money, and in today’s article we will learn about the feasibility study for large projects, what is meant by them and how to implement them.
Feasibility study for large projects
First, let’s talk about feasibility and its importance for projects. Feasibility can be defined as a study carried out by the project owner to know the market conditions and costs necessary to establish this project, as well as the expected profits.
Based on the results of this study, the project owner makes his decision to implement the project or not. He can also, through feasibility, identify the market situation, the volume of supply and demand, competitors and the target customers of the project.
Thus, the investor can determine whether the market needs this project or not. He can also identify the basic elements of the feasibility study that must be implemented to ensure the success of the project on the ground, which are:
The technical study.
As for how the feasibility study of projects works, the investor can implement it on his own without the help of anyone, but he must have enough information and data to complete it well, to avoid any unexpected losses in the long run.
Or he can resort to one of the companies specialized in conducting feasibility studies in order to ensure the success of the project after its implementation, and one of the best companies that any investor can rely on (Technology Company).
It is a company specialized in providing administrative and economic consultancy to major institutions, government and private companies, and various sectors such as the educational, tourism and health sectors.
The technology company was also distinguished by its exemplary performance in the completion of adequate feasibility studies for various projects, in order for the investor to achieve the success that he desires, which will positively return to him, which is a good financial profit.
Feasibility of a big project
We have previously mentioned, dear reader, that the feasibility consists of three main elements, which are the market study and the technical and financial study, and now we will clarify each study individually so that you can conduct a study for any project, whatever its size.
First, the market study:
This stage can be considered one of the most important of the three stages, through which the project owner can identify:
The volume of demand for services or goods provided by the project.
Supply volume of these services or goods.
The target customers of the project’s products.
The available opportunities and gaps that can be exploited for the development of the project.
The activity and products of competitors and their prices in the market.
Second, the technical study:
This study aims to know all the technical issues related to the project, such as:
Determining the location, area, costs and specifications of the project headquarters.
Determine the size, quality, specifications and costs of personnel and manpower.
Determining the needs and costs of the project from basic resources when starting its implementation, such as electricity, water, gas, and others.
Determining the needs and costs of the project in terms of tools, equipment and supplies.
Determining and setting production stages in detail in the case of production projects.
Third, the financial study:
The financial study is considered one of the most dangerous stages of feasibility, through which the revenues and profits of the project are identified, and accordingly the investment decision is taken to either implement the project, reconsider it or cancel it completely.
The results of the financial study of the project depend largely on the results of the market study and the technical study. Through the market study, the expected sales value is determined, and through the technical study, the costs of establishment and operation are determined, while the financial study determines whether this project can be implemented or not.
ready project feasibility
The ready-made feasibility study for any project is a project that has been studied before and many investors are turning to it to choose the right project for them.
This is because these studies are for successful recent projects with a good profit, and this is what makes the majority of investors resort to them, because they are guaranteed and have been prepared based on already existing projects.
A ready study is also available for large, medium and small projects, where the investor can choose the appropriate project for his capital, and when choosing a ready-made feasibility model, he can make adjustments to the project according to his desire.