Week 2 - Proposing a feasibility study Flashcards
a detailed analysis that considers all of the critical aspects of a proposed project in order to determine the likelihood of it succeeding.
feasibility study
other important factors may be identified on the plus or minus side, such as
community reaction and environmental impact.
Success in business may be defined primarily by
return on investment
can help project managers determine the risk and return of pursuing a plan of action
feasibility studies
A feasibility study assesses the
potential for success of the proposed plan or project by defining its expected costs and projected benefits in detail.
A company may conduct a feasibility study when it’s considering
launching a new business, adding a new product line, or acquiring a rival.
It’s a good idea to have a contingency plan on hand in case the original project is found to be
infeasible.
is an assessment of the practicality of a proposed plan or project.
feasibility study
analyzes the viability of a project to determine whether the project or venture is likely to succeed.
feasibility study
is also designed to identify potential issues and problems that could arise while pursuing the project.
feasibility study
As part of the feasibility study, project managers must
determine whether they have enough of the right people, financial resources, and technology
Feasibility study must also
determine the return on investment, whether this is measured as a financial gain or a benefit to society, as in the case of a nonprofit project.
The feasibility study might include a
cash flow analysis, measuring the level of cash generated from revenue versus the project’s operating costs.
A risk assessment
must also be completed to determine whether the return is enough to offset the risk of undergoing the venture.
