An Example Feasibility Study Is Only a Guide
An example feasibility study that is available online is from another business that might have used it before. The reason this sounds so cautious is that no business is willing to share vital information on how they conduct their business affairs for free. This would only cost them money in the long run. Companies are only in business to make money. No one works for fun unless they are already rich.
An example feasibility study can be very useful as a guide when matched up with a template from a management software program. This way, the user can formulate what might have worked in the past and what is standard practice in certain sectors of business.
The key focus of most feasibility studies are the economics of the project in question. Logistics, marketing, labor cost, and consumer confidence all have an effect on whether a company can make money in the chosen market with their project. An example feasibility study should clarify each of these and even break them down further for complete analysis.
The marketing aspect of the feasibility study is the area where the target audience is identified. This is the key to a project’s success. By first identifying then attracting the target audience, a revenue stream can be established. If the example feasibility study does not explore this vital factor, then another example to follow should be found.
If a project or the deliverable of a project is not sellable in a region or area, then a feasibility study should expose this and the project be shelved until a suitable region is found for it.
Not every project can sell its deliverable everywhere, just like not every example feasibility study can be applied in every situation. The use of a feasibility study template, along with several examples, is the best approach to conducting a successful study. Knowing what is applicable and what is not can make or break the profitability of a project.
When searching for an example feasibility study, look for more than one to pull ideas from. This is the way to get the best results.