Feasibility Study

It is a process where you plan and analyze the project or the business
viability. Within the process, you may discover potential problems or threats that will
harm the business. Despite the harms that may occur, you can come up with
solutions to solve and minimize the threats. Also, you may discover some
opportunities that will help the business to grow and be known to the market.

Dimensions of Feasibility Study

1. Market Feasibility
- Market Feasibility Study will provide various information about market
competitors, potential market, and business opportunities. With this
study, the business can identify the different demands of the
customers.

2. Technical Feasibility
- Technical Feasibility Study will provide the business a knowledge on
how they will properly handle the resources that are available for them
to use. This includes the proper storage, delivery, and distribution of
the resources.

3. Operations Feasibility
- Operations Feasibility Study will provide an idea on whether the current
system used on the workflow of the business is solving the
troubleshoots experienced by the business or not.

4. Financial Feasibility
- Financial Feasibility Study will provide financial information/statements
that will be used to the business such as startup costs, operating
expenses, cash flow and more. This is beneficial as it will help the
business to keep track of their financial stability.