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An Example Feasibility Study

January 13 2011

If you are in need of an example feasibility study, one could be closer than you might expect. With the integration of computers in every business process today, the purchase of a project management office program has probably already occurred by your company. This program is a source of project management tools that include examples of the different documents that will be required to document, plan, and execute a successful project.

This easy accessibility to an example feasibility study is beneficial to the project manager by saving them time and money when this type of document is needed. When using an example from this source, there is an additional advantage. It was constructed by the template that is also included in the project management program. This template is one of 52 that are included in the project management templates which are useful in every stage of planning your next project.

The reason this example feasibility study and the template saves time for the manager is because they will follow the same pattern of data entry that will lead to a successful study. With this example as a guide, the manager will know what is needed from them to complete this document, and the correct order to follow.  This insures that the execution of the study will follow a known path that has lead to success in the past.

In most programs, there is more than just one example feasibility study. This is needed since there are different factors that are required to formulate a successful feasibility study. The principles will be the same for a domestic study as an international feasibility study, but there will be a few variations that need to be noted. This can be from the local customs of the target audience, their purchasing power, and their unique needs. One of the customs that is often overlooked by the western world when selling to the Asian market is the exclusion of the number “4” in a product or its description. This number is similar to the Chinese word for “death” and is avoided by nearly all Asians, independent of which country and language they are from.

An example feasibility study is very useful. Just know what your target is to begin with, so the necessary data can be accumulated and a successful study will then be conducted to help produce a revenue stream for your business.