Question

What is feasibility study?

Hint:

Feasibility study = Examines technical, financial, and legal viability of a project.

Answer 1

Step 1: Meaning.
A feasibility study is an analysis to determine whether a proposed project or business idea is practical, financially viable, and technically achievable.
Step 2: Types of feasibility.
1. Technical feasibility: Whether the required technology, equipment, and processes are available.
2. Financial feasibility: Whether sufficient funds are available and the project will be profitable.
3. Economic feasibility: Whether the project will contribute to overall economic growth.
4. Legal feasibility: Whether the project follows government rules and regulations.
Step 3: Conclusion.
Feasibility study helps in minimizing risk by analyzing all factors before actual investment.