- April 21, 2022
- Posted by: admin
- Category: blog
The feasibility study is an in-depth investigation of various factors that determine the success of a proposed project. In fact, it is the focussed, action-specific tool, much different from a business plan. The feasibility study investigates the viability of a business plan and determines, whether the proposed project is worth the investment or it is not doable at all. For the most impressive feasibility study in Abu Dhabi, contact 24A Plus. In recent years, it has become common to conduct feasibility study before full trial. Holding this study is always beneficial for the project as it helps in getting a clearer picture. Some of the key benefits of our feasibility study include providing information on go-slow or no-go decision, identifying the valid reasons to undertake the project, evaluate the multiple parameters and enhance the success rate. This ultimately helps in reaching on a logical conclusion. The importance of feasibility study is based upon the organizational’s desire to set the project right even before allocation of budget, time and other valuable resources. A well-conducted feasibility study uncovers new ideas that may alter the scope of the project. Of course, feasibility study is an expensive and time consuming process but not performing feasibility analysis is more expensive in view of the poor decisions, you may take.
Our feasibility study examines all the pertinent aspects of a project. This include technical, legal, and economical aspects. In our feasibility study, the key elements that we evaluate include technical capability, budget, legality and risk factors. Our technical capability indicates, whether the organization is equipped with the necessary technical resources to pull off the project. We also analyze, whether the organization has the budget allocation or financial resources to carry out the project. Also, we ascertain, what is the project’s legal requirements and whether the proposed project meets them. We also identify the risks involved in the project and also inform, is the risk worth the company’s money and time as compared to the expected benefits. In our operational feasibility study, we identify whether the project in its intended scope, addresses the organizational needs? For the best feasibility study in Dubai, partner with 24A Plus as we cover all the involved variables .