An feasibility research, just as its name implies, is designed to determine if a plan or project can be implemented. It’s a test of the viability of a plan or project that is being considered.
The feasibility analysis is an essential part of the design phase of any plan or project. It’s done in order to discover what strengths as well as weaknesses in the proposed project or a business that is already in operation. It is a great way to discover and evaluate the threats and opportunities in the natural world and the resources required to complete the project, and the chances of the project’s success.
Steps in a Feasibility Study
Conducting a feasibility study involves the following steps:
Contents of a Feasibility Report
An analysis of feasibility should contain the sections below:
Recording and Reconciling Payroll Transactions.
Description of the Product/Service
Product/ Service Marketplace
Identification of the Specific Market