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Project Feasibility (Technical & Financial) Assessment
Project Feasibility Assessment
Technical and Financial
A feasibility study is an assessment of the practicality of a proposed plan or project. A feasibility study analyzes the viability of a project to determine whether the project or venture is likely to succeed. The study is also designed to identify potential issues and problems that could arise from pursuing the project.
As part of the feasibility study, project managers must determine whether they have enough people, financial resources, and the appropriate technology. The study must also determine the return on investment, whether it's measured as a financial gain or a benefit to society, as in the case of a nonprofit.
In some cases, a feasibility study might include a significant change in how a business operates, such as an acquisition of a competitor. As a result, the feasibility study might include a cash flow analysis, measuring the level of cash generated from revenue versus the project's operating costs. A risk assessment must also be completed to determine whether the return is enough to offset the level of risk of undergoing the venture.
The four types of feasibility include
Technical: Technology, hardware, and labor needed
Financial: The return on investment and the amount of funds needed to pay for the project, including the sources of capital, such as a financial institution or investors
Market: an analysis for the market for the product or service, the industry, competition, consumer demand, sales forecasts, and growth projections
Organizational: An outline of the business and the legal structure, as well as a management team analysis that includes a measurement of competency, such as the skills and experience needed
Benefits of a Feasibility Study
There are several benefits to feasibility studies, including helping project managers discern the pros and cons of undertaking a project before investing a significant amount of time and capital into it. Feasibility studies can also provide a company's management team with crucial information that could prevent them from entering into a risky business venture.
Feasibility studies also help companies with new business development, including determining how it will operate, potential obstacles, competition, market analysis, and the amount and source of financing needed to grow the business. Feasibility studies aim for marketing strategies that could help convince investors and banks that investing in a particular project or business is a wise choice.
Our Feasibility Study service includes the following areas
ü Feasibility Assessment of Solar PV Power
ü Feasibility Assessment of Solar Thermal Energy
ü Feasibility Assessment of Alternative Energy
ü Feasibility Assessment of Biogas Electric Power
ü Feasibility Assessment of Biogas Thermal Energy
ü Feasibility Assessment of Wind Power