Question: What Is An Example Of A Feasibility Study?

How do you determine feasibility?

A feasibility study considers all of the aspects of your project, including the availability of time and capacity, financial and other resources, market demand, as well as technical aspects to enable you to determine if you should take your project idea forward..

How do you prepare a feasibility study?

Conducting a Feasibility StudyStep One: Conduct a Preliminary Analysis. … Step Two: Prepare a Projected Income Statement. … Step Three: Conduct a Market Survey. … Step Four: Plan Business Organization and Operations. … Step Five: Prepare an Opening Day Balance Sheet. … Step Six: Review and Analyze All Data. … Step Seven: Make “Go/No Go” Decision.

What is the difference between feasibility study and pilot study?

A feasibility study asks whether something can be done, should we proceed with it, and if so, how. A pilot study asks the same question but has a specific design feature: in a pilot study a future study, or part of a future study, is conducted on a smaller scale.

What is a feasibility study medicine?

Feasibility Studies are pieces of research done before a main study. They are used to estimate important parameters that are needed to design the main study.

What are the five major dimensions of a feasibility study?

Common factors. The acronym TELOS refers to the five areas of feasibility – Technical, Economic, Legal, Operational and Scheduling.

What are the types of feasibility study?

There are five types of feasibility study—separate areas that a feasibility study examines, described below.Technical Feasibility. This assessment focuses on the technical resources available to the organization. … Economic Feasibility. … Legal Feasibility. … Operational Feasibility. … Scheduling Feasibility.

How long does it take to complete a feasibility study?

about 60 to 90 daysExpect a feasibility study to take about 60 to 90 days. Unless the market is very hot, don’t tie up much money, if any, in sales agreements for the land during this time period. Be sure any agreements you sign include a reimbursement of your deposit should you elect not to pursue the project.

What is in a feasibility study?

A feasibility study is an analysis that takes all of a project’s relevant factors into account—including economic, technical, legal, and scheduling considerations—to ascertain the likelihood of completing the project successfully.

What are four types of feasibility?

The four types of feasibility are operational, technical, economic and schedule.

What is a feasibility study in research?

Feasibility studies are pieces of research done before a main study in order to answer the question “Can this study be done?”. They are used to estimate important parameters that are needed to design the main study.

What are the main parts of a feasibility study?

In general the components of a feasibility study include:Defining the project scope.Determining current market trends and conducting detailed risk analysis.Defining and reviewing technical and organizational requirements for project viability.Evaluating a comprehensive cost analysis for the project.More items…•