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Questions and Answers
What is the primary objective of a feasibility study?
What is the primary objective of a feasibility study?
- To start the project implementation
- To allocate resources for the project
- To determine the likelihood of a project's success (correct)
- To finalize the project proposal
What is a key aspect of a feasibility study in terms of market research?
What is a key aspect of a feasibility study in terms of market research?
- Identifying the project's competition
- Developing a marketing strategy
- Creating a project timeline
- Analyzing market demand, supply, and pricing (correct)
Who typically conducts a feasibility study?
Who typically conducts a feasibility study?
- A single project manager
- The project's investors
- A team of experts (correct)
- The project's stakeholders
What is one of the key considerations in a feasibility study regarding technology?
What is one of the key considerations in a feasibility study regarding technology?
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What is the outcome of a feasibility study?
What is the outcome of a feasibility study?
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Study Notes
What is Feasibility Study?
- A preliminary study undertaken before project commencement to gauge project success likelihood
- Determines whether to proceed with a proposed project idea
- A team effort, not a single-person undertaking
Feasibility Study Objectives
- Identify legal and tax issues
- Understand market, demand, supply, and pricing dynamics
- Determine break-even point
- Evaluate availability of affordable technology
- Ensure access to funds at the right time and cost
- Assess project profitability based on various indicators
- Compare and select the best alternatives
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