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    Feasibility Study:: Environment Product Service Operations Management Marketing Research

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    Melissa Gabay
    A feasibility study aims to objectively uncover the strengths and weaknesses of a business or proposed venture by providing historical background, accounting statements, operational details, marketing research, financial data, and considering legal requirements. It evaluates a project's potential for success by answering whether the project should proceed based on correct facts and assumptions. A feasibility study examines all issues to assess the probability of success, gives focus to alternatives, identifies new opportunities and reasons not to proceed, and provides quality information for decision making. It considers technical, economic, legal, operational, and scheduling feasibility based on the TELOS acronym.

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    Feasibility Study:: Environment Product Service Operations Management Marketing Research

    Uploaded by

    Melissa Gabay
    125 views3 pages
    A feasibility study aims to objectively uncover the strengths and weaknesses of a business or proposed venture by providing historical background, accounting statements, operational details, marketing research, financial data, and considering legal requirements. It evaluates a project's potential for success by answering whether the project should proceed based on correct facts and assumptions. A feasibility study examines all issues to assess the probability of success, gives focus to alternatives, identifies new opportunities and reasons not to proceed, and provides quality information for decision making. It considers technical, economic, legal, operational, and scheduling feasibility based on the TELOS acronym.

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    A feasibility study aims to objectively uncover the strengths and weaknesses of a business or proposed venture by providing historical background, accounting statements, operational details, marketing research, financial data, and considering legal requirements. It evaluates a project's potential for success by answering whether the project should proceed based on correct facts and assumptions. A feasibility study examines all issues to assess the probability of success, gives focus to alternatives, identifies new opportunities and reasons not to proceed, and provides quality information for decision making. It considers technical, economic, legal, operational, and scheduling feasibility based on the TELOS acronym.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    125 views3 pages

    Feasibility Study:: Environment Product Service Operations Management Marketing Research

    Uploaded by

    Melissa Gabay
    A feasibility study aims to objectively uncover the strengths and weaknesses of a business or proposed venture by providing historical background, accounting statements, operational details, marketing research, financial data, and considering legal requirements. It evaluates a project's potential for success by answering whether the project should proceed based on correct facts and assumptions. A feasibility study examines all issues to assess the probability of success, gives focus to alternatives, identifies new opportunities and reasons not to proceed, and provides quality information for decision making. It considers technical, economic, legal, operational, and scheduling feasibility based on the TELOS acronym.

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    FEASIBILITY STUDY:

    A feasibility study is an analysis of the viability of an idea through a disciplined


    and documented process of thinking through the idea from its logical beginning to
    its logical end.
    A feasibility study aims to objectively uncover the strengths and weaknesses of
    an existing business or proposed venture, opportunities and threats present in
    then environment.
    A well-designed feasibility study should provide a historical background of the
    business or project. Such as a description of the product or service, accounting
    statements, details of the operations and management, marketing research and
    policies, financial data, legal requirements and tax obligations.
    A feasibility study evaluates the project's potential for success. It must therefore
    be conducted with an objective that answers the basic question: Should we
    proceed with the proposed project idea?
    And an unbiased approach to provide information upon which decisions can be
    based.

    Key factor:
    The key factor in any feasibility study must be ensuring that you are dealing with
    correct facts, correct assumption, and up to date financial data.

    Why do we need a Feasibility Study?


    Provide a thorough examination of all issues and assessment of probability of
    success.
    Give focus to the project and outline alternatives.
    Identifies new opportunities through the investigative process.
    Identify reasons NOT to proceed.
    Increase the probability of success by identifying weaknesses early.
    Provide quality information for decision making.
    To determine the viability of an idea BEFORE proceeding with the development
    of a business or project.

    The Five Common Factors


    The acronym TELOS refers to the five areas of feasibility - Technical, Economic, Legal,
    Operational, and Scheduling.
    1. Technical feasibility
    (Can a solution be supported with the existing technology or not?)
    The technical feasibility assessment is focused on gaining an
    understanding of the present technical resources of the organization and
    their applicability to the expected needs of the proposed system.
    It is an evaluation of the hardware and software and how it meets the
    need of the proposed system
    The technical analysis concern projects inputs (supplies) and outputs
    (production) of real goods and services
    It also include the quality of machinery and equipment's

    2. Economic feasibility (is the existing technology cost effective?)


    The purpose of the economic feasibility assessment is to determine the
    positive economic benefits to the organization that the proposed system
    will provide.
    It includes quantification and identification of all the benefits expected.
    (Taxes).
    The point of view taken by economic analysis is that of the society as a
    whole

    3. Legal feasibility
    Determines whether the proposed system conflicts with legal
    requirements, e.g. a data processing system must comply with the local
    data protection regulations and if the proposed venture is acceptable in
    accordance to the laws of the land.

    4. Operational feasibility (Will the solution work in the organization if


    implemented?)
    Operational feasibility is a measure of how well a proposed system solves
    the problems, and takes advantage of the opportunities identified during
    scope definition and how it satisfies the requirements identified in the
    requirements analysis phase of system development.

    5. Schedule feasibility
    Schedule feasibility is a measure of how reasonable the project timetable
    is. Given our technical expertise, are the project deadlines reasonable?
    Some projects are initiated with specific deadlines. It is necessary to
    determine whether the deadlines are mandatory or desirable.
    Typically this means estimating how long the system will take to develop,
    and if it can be completed in a given time period.

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