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Feasibility Study Excel

Project feasibility studies allow an individual to assess whether a project is feasible or not.

Instead of rushing the beginning of a project, a lot of the time it is much more efficient practice to assess the process fully before beginning and spending a large amount of money on an idea that potentially will lead to losses.

However, for a feasibility study to be conducted effectively, it is necessary that all protocols must be followed.

In general, the feasibility study is completed during the starting phase of the life cycle of a project. It assesses factors such as:

  1. Legal feasibility. This makes sure that the project will not come across any legal problems, in that it follows all laws necessary.

  2. Commercial feasibility. This aims to assess whether the project is right for the specifics of the market, and therefore thorough market research is necessary for this step.

  3. Financial Feasibility. Furthermore, following on from commercial feasibility, financial feasibility is the most important aspect that allows the company to move forward with the project. This assesses whether it is worth it to spend valuable resources on the project, assessing expected returns and therefore considering how profitable the project is expected to be.

  4. Technical feasibility. In addition to financing efforts, technologies that are already implemented in the organisation must be considered to assess whether new equipment will be needed for the project.

  5. Organisational Feasibility. this processes assesses whether the organisation has the skills and capacity to accept this project.

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