Question

In: Operations Management

How much time and effort should we spend on a feasibility study – what is it...

How much time and effort should we spend on a feasibility study – what is it dependant on?

Solutions

Expert Solution

Time and effort which should we spend on a feasibility study is depends on project and its scope. For example smaller projects may not require an exhaustive environment assessment, time and effort, whereas as big projects need them.

A feasibility study is an analysis that takes all of a project’s relevant factors into account, including economic, technical, legal, and schedule to ascertain the likelihood of successful completion of the project.


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