Feasibility study
assessment of the practicality of a proposed project or system, aiming to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats
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A feasibility study looks at how easy (or difficult) it will be to complete a project or system. In the simplest terms, feasibility is based on two things: the cost of a project, and the value the project might bring.
Feasibility studies try to answer these questions:[1]
- What are the strengths and weaknesses of this proposed project?
- What opportunities and threats exist?
- What resources will be needed to complete this project?
- How likely is it that this project will succeed?
Related pages
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change- ↑ McLeod, Sam (1 December 2021). "Feasibility studies for novel and complex projects: Principles synthesised through an integrative review". Project Leadership and Society. 2: 100022. doi:10.1016/j.plas.2021.100022.
Further reading
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- Matson, James. "Cooperative Feasibility Study Guide" Archived 2012-03-24 at the Wayback Machine, United States Department of Agriculture, Rural Business-Cooperative Service. October 2000.
- https://pilotandfeasibilitystudies.qmul.ac.uk/