FEASIBILITY ANALYSIS

Feasibility analysis basically can be classified into the following groups; financial, schedule, technical, market, regulations and standards, organizational and operations feasibility. We will start by looking at the financial feasibility of a given organization or business. The main aim of this kind of analysis is to ensure that the business, strategy, plan or design activities can be achieved within the stipulated financial bracket. That a particular goal is achievable within the given financial restriction (Wyckham, 1990). For my project, I have to conduct this feasibility analysis to ensure that the budget I allocate to various aspects of the project surely conform to this stipulation. If the study indicates otherwise, it is advised that I do away with the project. Feasibility study and analysis on product or service to be delivered is also key.

This entails study on the product being introduced to the market based on whatever the customers of the product expect, or whether the product has adequate market to facilitate production (Ardichvili, 2003). The main benefit for a project that conducts product or service feasibility is that product production is precise based on the requirements of the consumers meaning that the product or service meets all standards the first time it is released to the market. This technique particularly would be perfect for my project, because the section of customers that I use for the study becomes part of the sure market for the product or service provided. " Journal of Business venturing 18. Wyckham, Robert G. , and William C. Wedley. "Factors related to venture feasibility analysis and business plan preparation.