A good feasibility study will show the strengths and deficits before the project is planned or budgeted for. By doing the research beforehand, companies can save money and resources in the long run by avoiding projects that are not feasible.
At Vortex, we provide the following services;
- Economic Feasibility – Given the financial resources of the company, is the project something that can be completed? The economic feasibility study is more commonly called the cost/benefit analysis.
- Operational Feasibility – This measures how well your company will be able to solve problems and take advantage of opportunities that are presented during the course of the project
- Marketing Feasibility – Will anyone want the product once it’s produced/manufactured/completed? What is the target demographic? Should there be a test run? Is there enough buzz that can be created for the product?
- Comprehensive Feasibility – This takes a look at the various aspects involved in the project – marketing, resource, cultural, economic, etc. When undertaking a new business venture, this is the most common type of feasibility study performed.