What Are the Key Components of a Feasibility Study?
A feasibility study is an essential part of the research process. It assesses the viability of a business idea by examining various factors such as market potential, financial projections, technical requirements, and operational aspects. Key components of a feasibility study include:
- Market Analysis: Understanding the target audience and market size. - Financial Analysis: Estimating costs, revenues, and profitability. - Technical Analysis: Assessing the technical resources and capabilities required. - Operational Analysis: Evaluating the operational processes and logistics.