1.

Why Feasibility Study

As the name implies, a feasibility study is used to determine the successful rate of an idea
proving that it is a legitimate project, technically viable as well as ensuring its success. financially
legal. It also shows us whether the project is worth the investment. A project is judged unviable
because of various factors, which may be because it requires too many resources. Using a lot of
resources for a project when its feasibility is not clear can incur large opportunity costs, or the
cost of implementing the project more than the return.
The importance of a feasibility study is based on the desire of the business to "get it right"
before allocating resources, time and money to the project. A feasibility study can uncover a few
new ideas that completely change the landscape of the project. It is better to conduct a feasibility
study of the project before embarking on it, rather than doing it directly and then realizing it does
not work. Doing a feasibility study is always beneficial as it gives you and your stakeholders a full
picture of the future possibilities of the proposed project.
2. What is Content of a feasibility study?
A feasibility study includes a detailed analysis of what is needed to complete the proposed
project. The study may include a description of the new product or venture, market analysis,
technology and labor required, as well as financial and capital sources.
It is done to find answers to the following questions:
1. Does the company possess the necessary resources and technology?
2. Will the company get a high enough return on its investment?
Conducting a feasibility study involves the following steps:
1. Conduct preliminary analyses.
2. Prepare a projected income statement. What are the possible revenues that the project
can generate?
3. Conduct a market survey. Does the project create a good or service that is in demand in
the market? What price are consumers willing to pay for the good or service?
4. Plan the organizational structure of the new project. What are the staffing requirements?
How many workers are needed? What other resources are needed?
5. Prepare an opening day balance of projected expenses and revenue
6. Review and analyze the points of vulnerability that are internal to the project and that
can be controlled or eliminated.
7. Decide whether to go on with the plan/project.
Contents of a Feasibility study
A feasibility study should include the following sections:
• Executive Summary
• Description of the Product/Service
• Technology Considerations
• Product/ Service Marketplace
• Identification of the Specific Market
• Marketing Strategy
• Organizational Structure
• Schedule
• Financial Projections
Types of Feasibility Study
1. Technical feasibility
• Technical: Hardware and software
• Existing or new technology
• Manpower
• Site analysis
• Transportation
2. Financial feasibility
• Initial investment
• Resources to procure capital: Banks, investors, venture capitalists
• Return on investment
3. Market feasibility
• Type of industry
• Prevailing market
• Future market growth
• Competitors and potential customers
• Projection of sales
4. Organizational feasibility
• The organizational structure of the business
• Legal structure of the business or the specific project
• Management team’s competency, professional skills, and experience

The system analyst is a computer specialist who translates business problems and
requirements into information systems and acts as liaison between IS (Information Systems)
department and rest of the organization. A system analyst is the crucial interface among users,
programmers and MIS managers.

Key skills for systems analysts:

+ Systems evaluation
+ Attention to detail
+ Teamwork skills
+ Written and verbal communication skills
+ Adaptability
+ Creativity
+ Critical-thinking

Systems Analysts manage and enhance computer systems and software directly for
organizations or their clients. They review and evaluate the effectiveness of the company's
current IT systems and develop plans to improve any system deficiencies or errors. After
understanding and identifying improvements to be made, they can draft new requirements and
updates to the system. Systems analysts help implement these enhancements and can continue
to monitor their performance so any additional features can be added.

• Technical Feasibility Study

• Management Feasibility Study
 • Economic feasibility study
• Financial Feasibility Study
• Cultural Feasibility Study
• Social Feasibility Study
• Feasibility study on safety
• Political Feasibility Study
• Environmental Feasibility Study
• Market Feasibility Study

Technical Feasibility Study

The technical feasibility of the project is considered in the technical feasibility. Several
important technical aspects are mentioned which are necessary for the design of the project such
as civil, structural and other related aspects. The technical capabilities of the expected
technologies and the capabilities of the staff used in the project are considered.
Management Feasibility Study
Management feasibility is determined by certain key factors such as employee engagement,
proven management capabilities and capabilities, and commitment. The project's organizational
and management structure is addressed by this feasibility, ensuring that the proponent's
structure mentioned in the submission is viable for the type of activity undertaken.
Economic feasibility study
Economic feasibility refers to the feasibility of the considered project to generate economic
benefits. A cost benefit analysis is needed. Furthermore, the economic viability of a project can
also be assessed by break-even analysis. To provide a consistent basis for evaluation, the tangible
and intangible aspects of a project must be translated into economic terms. Economic feasibility
is important even if the project is non-profit in nature.
Financial feasibility
Financial viability must be distinguished from economic viability. The project management's
ability to raise the necessary funds to carry out the proposed project is included in financial
viability. Additional investors and other sources of capital are considered in many cases by project
proponents for their projects.
Cultural Feasibility Study
The compatibility of the proposed project with the cultural environment of the project is
included in the cultural feasibility. Planned activities should be integrated with local cultural
beliefs and practices in labor-intensive projects.
Social Feasibility Study
The impact that a proposed project may have on social systems in the project environment is
addressed in terms of social feasibility. It may happen that a particular group of employees is
missing or unavailable due to the surrounding social structure.
The impact on the social status of participants by the project should be assessed to ensure
compatibility. It must be determined that employees in particular industries may have specific
status symbols in society.
Feasibility study on safety
Another important aspect that must be considered during project planning is safety feasibility.
Safety Feasibility involves analyzing a project to determine its ability to perform and operate
safely with the least adverse impact on the environment.
Political Feasibility Study
The directions for the proposed project are largely dictated by political considerations. This is
certainly true for large projects whose potential visibility could be of significant political
significance and government input.
 On the other hand, because of political factors, valuable projects may encounter
uncontrollable opposition. In the political feasibility analysis, an assessment should be made
between the project's objectives and the current goals of the political system.
Environmental Feasibility Study
The environmental aspect is crucial in making any potential project a success or failure. In the
early stages of the project, this aspect should be considered. All raised or anticipated
environmental concerns should be addressed within environmental feasibility so that
appropriate actions can be taken to address relevant environmental issues.
The project's ability to obtain the necessary permits, permits and approvals at a reasonable
cost should also be included in this area.
Market Feasibility Study
Market viability should not be confused with economic viability. The potential influence of
market demand, competitive activities and available market share should be considered in a
market feasibility analysis. During the launch, expansion and commercial launch phases of the
project, possible competitive activities (local, regional, national and international) should be
analyzed for contingency funding. early and the impact on operating costs.

As a process that starts from setting goals, deciding on strategies, policies, detailed plans to
achieve the intended goal, clear, accurate planning will make it easier for you to implement the
work of the project. To help you plan in detail, to adjust.

Basically, a project plan includes the following critical documents:

+ Project Goals
+ Major Project Deliverables
+ Project Scope
+ Work Breakdown Structure
+ Change Management Plan
+ Risk Management Plan
+ Communications Plan
+ Stakeholder Management Plan
+ Project Budget
+ results
Project design is an early phase of the project lifecycle where ideas, processes, resources, and
deliverables are planned out. A project design comes before a project plan as it's a broad
overview whereas a project plan includes more detailed information.

The project design includes everything from who is responsible for completing the project to
a description of the project, its goals, outcomes and objectives. It describes when these goals,
outcomes and objectives will be reached, and the major deliverables, products or features that
will be completed. The project design also estimates the budget and outlines how to monitor and
evaluate progress.
The purpose of the Analysis Phase is to thoroughly examine and evaluate the viable
options identified in the Feasibility Phase and to arrive at an optimum high-level solution
that will satisfy the client's requirements and the project's constraints.

• Project Identification
• Project Formulation
• Market and Demand Analysis
• Technical Analysis
 • Economic and Financial Analysis
• Social Cost Benefit Analysis

In my opinion, project implementation requires a series of steps that culminate in a finished

product.
Step 1: A project must be created, established and given clear objectives before its viability
can be assessed. At the same time, members are brainstorming ways to launch the project
successfully while taking into account the scope of the project as well as the need for resources
and funding to support the project to produce the desired results.

Step 2: The most important step in the project life cycle is project planning. A comprehensive
strategy will help the project avoid risks and ensure that the implementation process will go
smoothly because it is the basis for choices about effort and money. Managers have to create
definite landmarks with exact time, route, method and baggage like a map with route and
destination. The leadership and its team can flexibly adjust activities but must ensure time and
within budget and allowable limits. A plan can change the route, but the destination is often less
predictable. power

Step 3: Implement the plan, assign tasks to different team members, organize the project, and
explain roles and responsibilities. Each role has certain goals and dates attached to it. This phase
calls for participants to engage and communicate with each other, and it is influenced by several
aspects that need to be carefully managed, such as available resources, available time and
available budget. Have. Most of the time is spent at this stage taking action, which requires
ensuring performance, saving as much resources as possible, and taking the right course of action.
To do this, management must compare progress reports with the original plan, make the
necessary corrections, and then accurately explain these actions to all stakeholders. harmonious
and good

+ Step 4: Project management Must continuously control the project, closely monitor
requirements and be aware of available resources to take corrective actions to ensure quality
and progress. . Quickly, a cure appeared. A large-scale project is labor-intensive, and controlling
specifics is often uncertain and time-consuming. As a result, the solution simultaneously
integrates automatic control tools into management tasks to help monitor and track projects
quickly, accurately and at a more reasonable cost.

Step 5: Complete the project after it has achieved its objectives or when the project manager
or other authority receives a request from the client to do so. An important responsibility of a
manager now, with all cases closed for any reason, is to systematically analyze the project
implementation stages, evaluate them, and compare them. with goals. pepper. Along with
resource allocation, refinancing or project delivery, and contracting, managers and their teams
also need to review project performance and draw conclusions from mistakes. mistake in the
past. experience to prevent similar mistakes and apply the information learned to future
initiatives

The project team performs separate activities and uses different capabilities at each level,
which must then be evaluated and evaluated to decide whether to move on to the next phase.
or undergo a process of change. The project life cycle consists of several phases, each of which
must be completed in order to move on to the next.
 The best projects are built through a process called project implementation, which also helps
organizations to accomplish their goals clearly and precisely within a given timeframe. The
project implementation is similar to the process of a high-rise structure; In order for the
management to build the top floor, it needs the support and efforts of all the individuals
implementing the project. until the desired result is effective, layer by layer. The project will be
considered to go through a process on each floor of the building and the outcome will depend
on how that process is carried out. therefore, the project is required to be implemented.