How to do a feasibility study Doing a feasibility study differs from a project to a project as the service or tourism projects differ greatly from the projects based on the production process. The specialist in charge of conducting the feasibility study.
How to do a feasibility study
These elements are fixed in most feasibility studies for product or service projects alike. The elements of a feasibility study are three main elements, namely:
A market feasibility study
It is or specializes in studying all market-specific factors as it is based on collecting data and information that are important to production processes, for example, it is concerned with knowing the size of supply and demand in the market in order to determine the productive capacity of the project, and it is also concerned with monitoring and identifying competitors in the market to know the prices of their products or services in order to determine the type of service price. Or your commodity, as this study is based on identifying competing commodities to find out their quality, and this is what is useful for the technical study to determine the quality of the product.
Technical feasibility study
It is the one who is interested in all technical matters of construction and operation, it is the one who sets all the matters related to the construction process from the establishment of buildings and stores, and it is also the one that is interested in purchasing the machinery for the production process and it is the responsibility of this study of product quality, and this study is done throughout the preparation and operation periods.
Financial and economic feasibility study
It is the one that is concerned with all financial matters, and this study is not done except after the two previous studies have been done, as it relies heavily on them, as it determines all the costs of the project from initial costs or capital costs and variable costs, especially all the expenses and expenditures of the project and is also concerned with all expected revenues Thus, determining the profitability of the project, and based on this study, the owner of the project makes his decision to implement or cancel the project. 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.
The economic feasibility study is one of the branches of the feasibility study, as the feasibility study includes three main branches, which are a market, technical, financial, and economic feasibility study. This is our discussion in this article, the financial and economic feasibility study. Watch here