What is Feasibility Study?
An assessment of the practicality of a proposed plan or activity.
Do we have or we can create the technology to do this?
Do we have the people resources?
Determine the factors that will make the business opportunity/activity success.
During the project lifecycle?
The first stage of conducting FEASIBILITY Study is to brainstorm the practicality of the proposed plan.
Its one of the most critical stage also being the stage where we have to see, analyze different forces from External Environment which might be the hindrance for the project.
Forces dominated through external environment are mostly the one which can not be altered for example – Government Policies
Cost Analysis is the act of breaking down a cost summary into its constituents and studying and reporting on each factor.
Cost–benefit analysis, sometimes also called benefit–cost analysis, is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings.