A social and environmental feasibility study, the environmental feasibility study is the first entrance to the feasibility study that must be carried out, due to its important role later in other detailed feasibility studies such as marketing, financial and productivity feasibility studies as well, the success of feasibility studies depends on understanding the nature of the project and the nature of its objectives and the extent of the impact of variables The surrounding environment on the desired project objectives as a result of its implementation in the actual steps.
A social and environmental feasibility study
Before we discuss the definition of the environmental and social study, let us, dear reader, take a quick look at the definition of the feasibility study.
It is also known as a scientific method for estimating the probabilities of the success of an investment idea or project before actual implementation, in light of achieving certain objectives for the investor.
Thus, the economic feasibility study is a practical tool to avoid project risks and bear losses, and the feasibility study is represented in a group of studies that seek to determine the viability of a project or a group of investment projects from several aspects:
Social and environmental.
This is a prelude to choosing the best projects that achieve the highest profit rate, and in the coming lines we will learn about one of these studies, which is the social and environmental feasibility study, so let’s go.
environmental study definition
The environmental feasibility study plays an important role in choosing the appropriate investment idea or project. With the availability and use of the results of the study, the effectiveness of the project increases. Without this study, it can lead to inappropriate or unexpected reactions towards it.
Studies confirm that there is a strong relationship between the results of the environmental feasibility study and the effectiveness of the decisions that have been agreed upon to implement the project.
It also measures the impact of the project on the technical and financial environment, as well as on the health of the population and employment, in addition to the benefits and damages of the project on the surrounding environment. Therefore, it is important that a social and environmental feasibility study be carried out by environmental experts.
The importance of the environmental feasibility study also stems from the existence of many laws dedicated to investment, with the aim of protecting the environment. The social and environmental feasibility study helps in the following:
Good selection of the appropriate site for the project, through which the damages that this project may cause against the environment can be addressed.
Reducing the chance of conflicts between project owners and those affected by it.
Ensure the approval of the project by the competent authorities and government agencies, when the conditions that protect the environment from its waste are met.
Legal and environmental feasibility study for the investment project
The environmental feasibility study includes many elements, the most important of which are the following:
Identify and analyze the components of the project architecture.
Define and analyze structural management characteristics of the project.
Assessing and determining the requirements of the individuals concerned or the target group of the project.
Exercising control and strategic planning.
Analyze the interplay between all the previous elements.
The environmental and social feasibility also includes several stages of assessing the impact of the environment on the project, which are as follows:
The first stage:
It is the initial evaluation stage, during which it identifies a set of environmental factors, which are used to assess the viability of the project.
The second phase:
It is a stage in which the study moves from the location of the committee in charge of the project to the site, in order to study the negative impact of the project on the environment.
It is the last stage of preparing the final report, which gives the competent authorities the decision to authorize the establishment of the project. It also includes proposed measures to reduce the negative effects expected to occur on the environment.
You can carry out the feasibility study on your own, or resort to the best companies specialized in working in the field of feasibility studies, which is a technology company that is unparalleled in the world of electronic services.
Where technology is carrying out adequate feasibility studies for all investment and service projects, many company owners and senior entrepreneurs have praised it for its advanced capabilities in achieving all means.
Which achieves any business owner the success he is looking for and the profit he hopes to reap as a result of implementing his project on the ground.
Impact of the Environmental Feasibility Study
The effect of this study lies in knowing the location of the project, or in other words, if the environment surrounding the project is good, it will reflect positively on the feasibility study of this project, which contributes to achieving the best possible success rate.
In addition to knowing and evaluating its status in relation to environmental protection systems, there are some other objectives or implications for environmental feasibility such as:
Determine the actions needed to modify these negative effects.
Study the percentage of the project’s impact on the surrounding environment.
Determine the negative effects that the project can cause on the environment.