Are you looking to test a business case?
What is a feasibility study?
Feasibility study is a systematic evaluation of a proposed project, system or a business venture. Feasibility study is sometimes confused with business plans. Although both pretty much have similar elements, however, are for two different purposes.
Feasibility study is a rigorous examination exercise where essentially all relevant elements of the proposed initiative are tested against multiple variables. Feasibility results in an informed decision on whether or not to proceed with the proposed initiative.
Types of feasibility studies
There can be many types of feasibility studies depending upon peculiar situation, however, following are the most common types:
- Technical Feasibility
- Commercial Feasibility
- Legal Feasibility
- Operational Feasibility
- Marketing Feasibility
- Comprehensive Feasibility
What it brings and why you need it?
In each type of feasibility study, certain set of variables are tested and analysed e.g. in commercial feasibility, price sensitivity analysis is done to see the impact of price variation on consumer behaviour at one end and profitability on the other. For a new business, a comprehensive feasibility is conducted to have a 360 degree evaluation of the proposed initiative.
So if you have
- a new business idea,
- an investment decision,
- make or buy decision,
- an outsourcing decision,
- a new product or service, or
- a new project
Conduct a feasibility study !
Always make informed decisions.Let us help you conduct comprehensive feasibility study.
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New South Wales: Sydney, Paramatta, Bayside Council (Rockdale), Shellharbour