A feasibility study assesses the likelihood of a project’s success by analyzing factors like technical, economic, and legal aspects. It helps determine if a project is worth the investment and identifies potential issues. Feasibility studies aid in business development, guiding operations, financing, and marketing strategies to attract investors. Once completed, stakeholders can decide whether to proceed with the project.

Importance of Feasibility Studies:

• Validates or vetoes project ideas
• Sharpens project focus
• Provides next-step guidance
• Narrows business alternatives
• Evaluates resources and technology
• Enhances project success by assessing variables
• Estimates return on investment