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FEASIBILITY STUDIES

 Feasibility studies: A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems. It attempts to answer two main questions: Will the idea work, and should you proceed with it? A feasibility study is used to determine the viability of an idea, such as ensuring a project is legally and technically feasible as well as economically justifiable. It tells us whether a project is worth the investment—in some cases, a project may not be doable. There can be many reasons for this, including requiring too many resources, which not only prevents those resources from performing other tasks but also may cost more than an organisation would earn back by taking on a project that isn’t profitable.

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