Podcast
Questions and Answers
What is a primary goal of a feasibility study?
What is a primary goal of a feasibility study?
- To reduce operational costs and increase value (correct)
- To create a detailed financial report only
- To evaluate only the risks involved
- To increase the duration of the project
Which characteristic of a feasibility study ensures that it follows a consistent process?
Which characteristic of a feasibility study ensures that it follows a consistent process?
- Highly Systematic (correct)
- Articulate
- Cost Effective
- Strategic in Nature
What aspect is critical for the accuracy of data in a feasibility study?
What aspect is critical for the accuracy of data in a feasibility study?
- Data from reliable and scientific sources (correct)
- Historical data only without recent validation
- Data from unreliable sources
- Personal opinions of the project team
Which characteristic implies that a feasibility study requires significant commitment from individuals involved?
Which characteristic implies that a feasibility study requires significant commitment from individuals involved?
What does the cost-effective characteristic of a feasibility study emphasize?
What does the cost-effective characteristic of a feasibility study emphasize?
Flashcards
Precise & Articulate Findings
Precise & Articulate Findings
The study clearly states whether the project is viable or not, providing a definite conclusion.
Highly Systematic Process
Highly Systematic Process
A systematic approach ensures each phase is completed meticulously, following established steps.
Focused on Reliable Data
Focused on Reliable Data
The study relies on accurate data and information from credible sources.
Strategic Influence
Strategic Influence
Signup and view all the flashcards
Cost-Effective Outcome
Cost-Effective Outcome
Signup and view all the flashcards
Study Notes
Key Characteristics of a Feasibility Study
- Precise and Articulate: Clearly conveys conclusions regarding project feasibility.
- Highly Systematic: Follows a pre-defined, structured process. Skipping steps or adding unnecessary steps should be avoided.
- Focused: Relies on reliable, scientific data from various sources (field, office, historical, expert observation) to ensure high accuracy.
- Strategic: Impacts long-term business operations, requiring significant resources and commitment from all levels.
- Cost-Effective: Maximizes value for the resources invested (money, time, effort).
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
