Step-by-step guide to Conduct a Feasibility Study & why is it important?

Feasibility study is one integral part of the project-planning process. It supplies vital information on whether a certain thought or an initiative or project may indeed be worthwhile and whether its implementation should be followed or pursued further. Feasibility studies make sure that the concerns to a possible set of risks, financial consequences or potential operational issues are properly measured and evaluated before substantial resources of investing. The feasibility study is an in-depth, step-by-step guide on conducting a feasibility study and its importance, objective, types, benefits, and practical examples.