Feasibility study is a document written to show the justification of a proposed policy, product, service or other charges in an organization.
A project study has several chapters or division embracing several aspects related to proposed project. A study presented must be financially, economically, technically and socially feasible or viable.
Rules in Preparing Study
- The writer must know the nature of the proposed project very well. Get technical expertise if necessary from qualified expert.
- The study must be loaded with statistics, data, documents and all information to support the study.
- Organize the project study properly.
- The estimation and projections shows must be close to realities.
Characteristics of Feasibility Study
- It helps the managers and other decision makers vote for or against an idea or select many other alternatives.
- It is often preceded by a proposal.
- It helps the reader to make a decision.
- It saves time, capital and effort