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Projects feasibility Studies

Feasibility studies are preliminary investigations into the potential benefits associated with undertaking a specific activity or project. The main purpose of the feasibility study is to consider all factors associated with the project, and determine if the investment of time and other resources will yield a desirable result. While considered a preliminary study, it is not unusual for a feasibility study to be highly detailed.

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When a business is considering a new operation or the launch of a new product, the feasibility study is a logical tool to employ before any resources are invested in the new project. One of the most important aspects of the study is to make sure that the total investment needed to successfully bring the project to completion is considered. Often, this will include addressing components such as cash reserves, labor, construction, production facilities, outsourcing, and the cost of raw materials.

Only when the feasibility study has addressed the total cost of completing the project can the study progress to the next level.

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