Podcast
Questions and Answers
Which of the following items is due on August 9?
Which of the following items is due on August 9?
What is the importance of conducting a feasibility study?
What is the importance of conducting a feasibility study?
To safeguard against wastage of further investment or resources and support the business planning stage.
A feasibility study is only conducted after a Business Plan has been created.
A feasibility study is only conducted after a Business Plan has been created.
False
The _____ feasibility assesses the financial aspects necessary for a business.
The _____ feasibility assesses the financial aspects necessary for a business.
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Which component is NOT part of Financial Projections?
Which component is NOT part of Financial Projections?
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Match the following project parameters with their definitions:
Match the following project parameters with their definitions:
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Study Notes
Feasibility Study Deadlines
- Project description due by August 9
- Project parameters submission by August 16
- Technical feasibility assessment due by August 30
- Operational/manpower analysis by September 13
- Market feasibility report by September 27
- Financial analysis completion by October 18
- Complete draft required by November 11
- Presentation scheduled for the week of November 25-29
- Bound copies submission set for December 13
Business Feasibility Study Definition
- A systematic approach to identifying business problems, opportunities, and objectives.
- Evaluates success scenarios, and the costs and benefits related to various solutions.
- Supports decision-making with a cost-benefit analysis regarding business or project viability.
- Conducted before formal business planning to assess opportunities and risks.
Importance of Business/Project Feasibility Study
- Prevents resource and investment wastage.
- Acts as a foundation for preparing a comprehensive Business Plan.
- Reduces time and costs associated with business planning by providing essential research insights.
- Includes both quantitative and qualitative evidence to validate business concepts.
Practical Questions for Feasibility Assessment
- Is the business logistically achievable, and are technological needs met?
- What are the inherent risks, and how do products/services differ from competitors?
- Is the market growth trajectory favorable?
- Are the financial resources sufficient for business realization?
- Are there any time constraints influencing business establishment?
Steps in Feasibility Analysis
- Define project parameters, including financial feasibility and legal requirements.
- Conduct industry and market research to inform viability assessments.
- Review findings to ascertain the overall feasibility of the business concept.
Dimensions of Business Viability
- Market viability: Demand and competition analysis.
- Technical viability: Resource and technology adequacy.
- Business model viability: Sustainability and revenue generation potential.
- Management model viability: Organizational structure and effectiveness.
- Economic and financial viability: Profitability potential and funding opportunities.
- Exit strategy viability: Plans for divestment or business closure if necessary.
Feasibility Study Outline Components
- Introduction with cover sheet and preliminary pages.
- Executive summary highlighting key study findings.
- Detailed sections on marketing, operating requirements, and management.
- Analysis of product/service, technology, market environment, and competition.
- Critical evaluations of risks, industry conditions, and financial projections.
- Recommendations and conclusions summarizing insights.
Financial Projections Components
- Balance sheet projections to outline future financial position.
- Income statement projections to estimate profitability.
- Cash flow projections to ensure liquidity management.
- Break-even analysis to determine sales needed to cover costs.
- Detailed capital requirements and strategy for funding needs.
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Description
This quiz covers the essential deadlines and next steps involved in conducting a feasibility study for a project. It outlines key deliverables from the project description to market feasibility and financial assessments. Test your knowledge on important project management timelines and requirements.
