Podcast
Questions and Answers
What is a primary goal of a feasibility study?
What is a primary goal of a feasibility study?
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?
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?
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?
Signup and view all the answers
What does the cost-effective characteristic of a feasibility study emphasize?
What does the cost-effective characteristic of a feasibility study emphasize?
Signup and view all the answers
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.
Description
Test your knowledge on the key characteristics of a feasibility study. This quiz will explore the essential elements that make a feasibility study effective, systematic, and strategic. Evaluate how well you understand the importance of relying on scientific data and resource management in business operations.
