Definition of feasibility studies
A feasibility study is performed by a company when they want
to know whether a project is possible given certain circumstances. Feasibility
studies are undertaken under many circumstances - to find out whether a company
has enough money for a project, to find out whether the product being created
will sell, or to see if there are enough human resources for the project
A good feasibility study will show the strengths and deficits
before the project is planned or budgeted for. By doing the research
beforehand, companies can save money and resources in the long run by avoiding
projects that are not feasible
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