A technical study of feasibility is an assessment of the logistical aspects of a business operation. It includes segments on necessary materials, labor and technology, and the means of shipping or transporting goods, according to About.com. Although not part of the technical portion of the study, a financial feasibility report is typically included, and it is supported by the details of the technical study.Know More
Before investing in product redesign or the introduction of new products, a business may conduct a feasibility study to estimate the technical and financial requirements and gauge the likelihood of success. A feasibility study that links sound technical projections with solid financial accounting serves as a valuable document for drawing investors and securing loans.
Provided in the materials section of the study are necessary raw material and manufacturing supply lists and an analysis of sourcing the goods. The labor section documents how many employees, and which positions, will be needed to conduct business before and after the projected growth. In the technology category, an estimate of the required hardware and software is presented. The shipping section outlines any special handling requirements and the means of delivery. This section may include an intention to rely on local couriers and freight companies or to purchase company vehicles.Learn more about Managing a Business
A feasibility study is used to determine the likelihood of a venture succeeding. In the management aspect of the study, those conducting it identify the management team of the venture and judge whether or not they have the skills to run the business effectively.Full Answer >
The purpose of a feasibility study is to analyze a business proposal to determine if the project is viable and if it should be followed through with. Determining if a business is feasible prior to establishing it prevents an investor from wasting money and time on a failed business venture.Full Answer >
A feasibility study is conducted by identifying potential problems for a business that could cause it to be unsuccessful. This is accomplished by examining the three main areas affecting business success: finance, marketing and organization.Full Answer >
A feasibility study for an information system project is an in-depth look at the project in order to determine whether or not an organization should proceed with its implementation. Feasibility studies provide project managers with an overview of the primary issues related to the project, as well as insights about the outcomes of the project, before the company invests too much time and money.Full Answer >