What is the feasibility study and relevance to business development

What is the feasibility study and its relevance to work? Of course, many people have heard the term of a serious study before, in particular at the start of a business%, and it is possible that the business activity has begun without using a seriousness study per7% of the enterprises, so we will speak in today ' s article and answer what is the feasibility study and its attractiveness at work?

What's the feasibility study?

We will mention in the following lines what the feasibility study and relevance to work is:

1. [hyper studies] (https://trinavo.com/) can be considered simply as a way for the owner of the project to determine the feasibility of converting its idea into a business.
2. By examining the elements of the project, its implementation mechanisms and the expected financial return, as well as market analysis, competitors and clients.
3. Other factors that may be affected by the project.
4. The feasibility study offers you many steps.
5. The fact that the project was brought to your attention could be found that there was no significant information on the idea and other elements, and its absence meant its future loss.
6. Starts in preparing your ideas and rearranging the needs of the project and re-implementing them in a more professional manner, taking into account all the surrounding factors.

What's the feasibility study model?

• The feasibility study is often used primarily to determine the economic viability of the project.
• Although there are feasibility studies to determine organizational feasibility within the institution, the mechanism of work and how a successful strategy can be achieved. There is also a study of technological feasibility, which is dedicated to meeting the working needs of a range of organs, programmes and technical issues.
• Determining their feasibility to meet the requirements for action.
• The feasibility study is a means of collecting accurate information on the project and its related matters.
• It consists of a set of points and elements, including project description and market study, with details on financial and accounting matters.
• It also contains legal requirements and requirements, provided that these elements clarify the strengths and weaknesses of the idea and the viability of the project.

What is the feasibility study and its relevance to work?

1. It is important to have more than one way to prepare the feasibility study, but there are key components of the study as a starting point for its preparation.
2. The steps that eventually lead to the implementation of the project have been put in place, while the feasibility study is a guide to the author of the idea and business leaders as it is on track to achieve the objectives of the project.
3. It also provides an opportunity to evaluate the project every time and to identify the positive and negative aspects and their source.

What are the elements of the feasibility study?

In the following lines, we mention the elements of the feasibility study:

Description:

Develop a description of the product or service on which the project idea is based, provided that the description is detailed and accurate, highlighting the advantages of the product or service, and explaining how it can contribute to meeting client needs.

Market:

It is important to examine the market in which the project concept will be implemented, so that business leaders are aware of the nature of this market and the target audience, and how to reach potential clients, with the identification of competitors, prices and sales expectations.

Technical study:

The purpose is to provide 88% of the project ' s logistical requirements, such as required employment, appropriate project location, raw materials required by the project, as well as technical and technological matters for computers or laptops, and other requirements that work towards the project target.

Executive or organizational study:

In the sense of establishing an administrative structure for work within the project, project owners, managers shall begin with staff and employees, and the project management and decision-making process shall be clarified, taking into account the possibilities for expansion and methods of implementation.

Legal study:

The project owner must be aware of the appropriate legal framework for his project and need to obtain work permits or document the idea.

Financial study:

This is one of the most important elements of the feasibility study: the project owner must be aware of the expenses that his project needs during a given period, with his expectations of the income generated by the project, so that he has a certain amount of capital he wants, an important point in the project owner ' s negotiations with investors and partners.

How is a feasibility study done for a small project?

In the following lines, we will mention working methods [hydraulic study] (https://ar.wikipedia.org/wiki/%D8%AF%D8%B3%D8%A8%D8%B3%D8%A9 %D8%AC%D8%AF%D9%88%D9%89) for a small project and answer the feasibility and relevance of the work:

1. Identify the feasibility of a business investment idea or project.
2. The feasibility study could help to select the most appropriate concept of implementation, narrow the broad possibilities and identify the right idea within a given framework, thereby facilitating the project owner ' s implementation.
3. The feasibility study helps to make fairly sound investment decisions, showing the profitability of the project and the profit-earning rate.
4. The project ' s ability to sustain future financial risks and challenges and obstacles while identifying these risks.
5. The feasibility study enables you to develop your idea or project in the future, because you will be aware of current market trends so that you can provide what you need in the future.
6. Knowledge of the resources, logistical and organizational matters needed by the project, so that your project does not start and find something missing.
7. The feasibility study assists the business leader in writing a clear work plan with a very accurate set of data, so it is a practical way for business leaders to persuade investors.
8. Their importance can be summarized as specific and focused on certain points of the project, shifting from a mere concept to a reality with a framework, with the possibility of alternative solutions.