Feasibility Study Professionals
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A feasibility study is a research that is carried out in an attempt to generate information that would guide the intended CEO or Management Team that is considering starting a new venture/project. A feasibility study provides step-by-step information of everything that needs to be known towards starting-up anything new (or expansion). Feasibility studies also helps to determine if the proposed idea, venture or concept is viable / feasible or not.

A feasibility study is just what it sounds like: a systematic study to understand whether or not a specific project, venture, or approach is feasible. The ultimate outcome of any feasibility report is a “go” / “no go” decision. You either move forward or you don’t, and in some cases you move forward, but with a different approach.

Whether a study’s findings are positive or negative, the feasibility study can help entrepreneurs and managers better understand what aspects of the project are of greatest strategic importance to the success of the venture.

USES OF FEASIBILITY STUDY.
- Get feedback about the new concept from the appropriate stakeholders.
- Analyze and ask questions about your data to make sure that it’s solid.
- Conduct a market survey or market research to enhance data collection.
- Write an organizational, operational, or a business plan.
- Prepare a projected income statement.
- Make an initial “go” or “no-go” decision about moving ahead with the plan.