FEASIBILITY STUDIES
Feasibility studies are comprehensive assessments conducted to evaluate the practicality and viability of a proposed project or idea. These studies delve into various aspects, such as technical requirements, market analysis, financial considerations, and risk assessment, to determine if the project is feasible and worth pursuing. By analysing factors like resource availability, market demand, regulatory compliance, and financial viability, feasibility studies provide valuable insights that aid decision-makers in making informed choices.
The findings of these studies help stakeholders identify potential challenges, mitigate risks, optimise resource allocation, and develop effective implementation plans. Feasibility studies are an essential tool in project management, enabling organisations to assess the potential success and sustainability of a project before committing significant resources and efforts to it.
