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Questions and Answers
What is the purpose of a feasibility study?
What is the purpose of a feasibility study?
- To show the contributions the project can offer to the society.
- To analyze the viability of an idea.
- To determine the probable income of operating the project.
- To provide a framework and direction for development and delivery. (correct)
Feasibility studies are conducted to determine the viability of a proposed initiative or service. What is one of the reasons why we do feasibility studies?
Feasibility studies are conducted to determine the viability of a proposed initiative or service. What is one of the reasons why we do feasibility studies?
- To find out the opportunities and threats as presented by the environment.
- To find a solution that is well recognized.
- To find a solution that is cost effective from a business perspective. (correct)
- To find out the probable market for the products.
What is a feasibility study?
What is a feasibility study?
- A formal analysis of all possible solutions to a problem and a recommendation on the best solution to use.
- A process for determining the probable market for the products.
- A formal study to decide what type of system can be developed, which best meets the needs of the organization. (correct)
- An analysis of the viability of an idea.
What are the benefits of conducting a feasibility study?
What are the benefits of conducting a feasibility study?
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What does a feasibility study help determine?
What does a feasibility study help determine?
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Study Notes
Feasibility Study
- A feasibility study is a detailed analysis to determine if a project or initiative is viable.
Purpose of a Feasibility Study
- To assess the practicality and potential success of a proposed project.
- It helps identify and evaluate factors that could impact the project's viability.
Benefits of a Feasibility Study
- Provides a comprehensive understanding of potential risks and challenges.
- Helps in decision-making by providing valuable insights into project viability.
- Identifies potential opportunities for improvement and enhancement.
- Facilitates resource allocation and project planning by providing realistic estimations.
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