Feasibility Plan

Feasibility Plan

Want to start a business? Are you launching a new product or expanding an existing service?

A feasibility plan is a study conducted prior to initiating a business plan. Whether you're an established business launching a new product or an individual with a new idea, a feasibility study helps identify any potential issues and/or profitability of your concept. This detailed analysis takes into account many different aspects, including current business conditions and local needs in the area. The feasibility study determines whether the business plan is worth the time and expense.

Market analysis

Evaluates the industry environment in which to compete and serve.


Risk analysis

Identify risk factors that affect project planning and delivery.


Financial projections

Assesses the attractiveness of the project to equity investors and the overall financial return on the project

The need of a feasibility plan

The need of a feasibility study is based on organizational desire to “get it right” before committing resources, time, or budget. A feasibility study might uncover new ideas that could completely change a project’s scope. It’s best to make these determinations in advance, rather than to jump in and to learn that the project won’t work. Conducting a feasibility study is always beneficial to the project as it gives you and other stakeholders a clear picture of the proposed project.

Features

Key benefits of conducting a feasibility study:

  • Improves project teams’ focus
  • Identifies new opportunities
  • Provides valuable information for a “go/no-go” decision
  • Narrows the business alternatives
  • Identifies a valid reason to undertake the project
  • Enhances the success rate by evaluating multiple parameters
  • Aids decision-making on the project
  • Identifies reasons not to proceed

“Failing to Plan is planning to fail’’

Allen Lakein

Top4 Consulting and Training LLC. Licenced by QFCA No: 01600

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