Feasibility Study:
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Feasibility means practicability. Feasibility study for any project states the practical aspect of any project. Whether a project is cable of being used successfully? what are its future prospects? How will it stand in market after being executed? All these factors are considered under feasibility study. Proper feasibility study avoids possible failure of the project after execution. Feasibility study is undertaken with the help of professional experts, consulting engineers or technical consultants.
After the project is planned, feasibility study is undertaken. Thus feasibility study is critical evaluation of all details of the project as given in the project report. Although, it is not compulsory to have feasibility study done for all projects, it is always desirable as it alerts the promoters well before the project is executed.
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