Sterling Project Management

Feasability

Sterling Project Management has many years experience in studying the feasibility of a project whether it is a small development, hotels, resorts, condominiums or shopping malls.

Feasibility studies can be used in many ways but primarily focus on proposed business ventures. Developers with a business idea should conduct a feasibility study to determine the viability of their idea before proceeding with the development of the business.

A feasible business venture is one where the business will generate adequate cash-flow and profits, withstand the risks it will encounter, remain viable in the long-term and meet the goals of the founders.

A feasibility study is usually conducted after developers have discussed a series of business ideas or scenarios. The feasibility study helps to “frame” and “flesh-out” specific business alternatives so they can be studied in-depth. During this process the number of business.

A market assessment would be conducted to help determine the viability of a proposed development in the marketplace. The market assessment or high level feasibility study will help you identify opportunities in a market or market segment. A market assessment will provide much of the information for the marketing section of the feasibility study.

Below are other reasons to conduct a feasibility study.

Gives focus to the project and outline alternatives
Narrows business alternatives
Surfaces new opportunities through the investigative process
Enhances the probability of success by addressing and mitigating factors early on that could affect the project
Provides quality information for decision making
Helps to increase investment in the company
Provides documentation that the business venture was thoroughly investigated
Helps in securing funding from lending institutions and other sources

The feasibility study is a critical step in the business assessment process. When properly conducted, it will be the best investment you ever made.

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