Are you a budding entrepreneur or a businessman trying to expand your business? Do you have a lot of unanswered questions? If yes, it is quite natural. This is where market research comes into play. Feasibility analysis is the process of confirming that a strategy, plan or design is possible and makes sense. There are many feasibility study consultants in Singapore who provide services for businesses. The feasibility analysis is classified into different categories. Listed below are the 5 types of feasibility analysis.
Financial Feasibility Analysis
A financial feasibility analysis projects how much start-up capital is needed, sources of capital, returns on investment, and other financial considerations. The study considers how much cash is needed, where it will come from, and how it will be spent. The study is an assessment of the financial aspects of the business.
Market Feasibility Analysis
Market feasibility analysis is considered as the most important analysis. This part of the study helps in describing the current market for your product or service, identifying the market competition, and potential market.
Organizational Feasibility Analysis
Organizational feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business. Two key aspects to consider include management ability and resource sufficiency.
Operational Feasibility Analysis
This assessment involves undertaking a study to analyze and determine whether ? and how well ? the organization?s needs can be met by completing the project. Operational feasibility studies also examine how a project plan satisfies the requirements identified in the requirements analysis phase of system development.
Scheduling Feasibility Analysis
A project will fail if it is not completed on time. In scheduling feasibility, an organization estimates how much time the project will take to complete.
The feasibility analysis helps in identifying any constrains the project may face. At Apeiron, we provide feasibility study services in Singapore. Our comprehensive feasibility study will help transform your business ideas and concepts into reality. The feasibility study services are tailored to the needs of each client. Get in touch with us for devising a perfect plan.
Source: https://apeiron.sg/5-types-of-feasibility-analysis/
