A feasibility study is the analysis of the practicability of a proposed idea. It evaluates the economic, environmental, technical and quality of life aspects of proposed business ideas. Coupled with the project’s compatibility with the local community, this information allows decision makers to have the accurate and relevant information needed to make informed choices.
The Feasibility Study analyses potential solutions against a set of requirements evaluates their ability to meet these objectives, describe a recommended solution, and offer a justification for this selection. It also helps to prioritize the alternatives based on their key success factors, alignment with the business objectives, strategical fit, advantages and disadvantages.
The scope of Feasibility Analysis
In general terms, the elements of a feasibility analysis for a project should cover the following:
Process Work: What will be required to satisfy the need?
Cost Estimate: Estimating project cost to an acceptable level of accuracy.
Financial Analysis: An analysis of the cash flow profile of the project.
Project Impacts: Environmental, social, cultural, political, and economic impacts may be some of the factors that will determine how a project is perceived by the public.
Conclusions and Recommendations: Overall outcome of the project analysis.
ADVENT Management Consultants’ conducts feasibility studies on project plans for its clients. Our consultants work very closely with our clients to achieve the mutually agreed objective within an estimated time frame. The feasibility study is required for the business success and to get the funds/investors who are assured that you have a profitable business idea with the operational plan.
AMC feasibility study covers a comprehensive analysis of the industry, customer and competitor analyses in order to determine market opportunities. Our consultants then assess each of the opportunities, determine the optimal ones, and create action plans for effective market penetration. Our feasibility study consultants have conducted studies for hundreds of organizations ranging from startups and large companies to non-profit organizations. We have conducted studies in numerous industries, including real estate & construction, retail, wholesale, hospitality & hotels, sports & recreation, renewable & alternative energy (biodiesel, wind, solar), and non-profit, among others. AMC’s unique feasibility study methodology is ideal for judging a new venture’s prospects for success.
Feasibility Study Methodology
ADVENT Management Consultants’ comprehensive feasibility study development process includes each of the following distinct services.
Major Areas Covered
The feasibility of a project can be ascertained generally on the basis of the following assessments:
- Market Analysis
- Technical Analysis
- Operational Analysis
- Environmental Analysis
- Financial Analysis
- Economic Analysis
Our feasibility studies also include other factor analysis such as the following;
- Managerial Feasibility
- Social and Cultural Feasibility
- Safety Feasibility
- Political Feasibility
Once the best ideas rise to the top ADVENT Management Consultants works with clients to create a comprehensive roadmap, action plans and operational timeline to execute the project successfully.
In developing action plans, ADVENT Management Consultants prepare comprehensive financial models so that clients understand the exact capital requirements needed to succeed. Likewise, we create realistic assumptions regarding product/service sales and costs so that results can be more accurately projected.
As required AMC provides ongoing support to modify our clients’ action plans in response to change to the external factors and/or if existing strategies need to be optimized.
Advantages of Using Our Services
Our economic feasibility studies can give you the following advantages:
- Gives focus to the project and outline alternatives.
- Narrows business alternatives
- Identifies new opportunities through the investigative process.
- Identifies reasons not to proceed.
- Enhances the probability of success by addressing and mitigating factors early on that could affect the project.
- Provides quality information for decision making.
- Provides documentation that the business venture was thoroughly investigated.
- Helps in securing funding from lending institutions and other monetary sources.
- Helps to attract equity investment