5 Types of Feasibility Study For Industrial Service

A feasibility study aims to provide an independent assessment that examines all aspects of a proposed industrial project, including technical, economic, financial, legal, and environmental considerations.

1. TYPES OF FEASIBILITY STUDY FOR INDUSTRIAL SERVICE 5

2. Types of F e a s i b i l i t y Study Economic feasibility Technical feasibility Operational feasibility Schedule feasibility Legal feasibility

3. About Us A feasibility study aims to provide an independent assessment that examines all aspects of a proposed industrial project, including technical, economic, fi n a n c i a l , l e g a l , a n d e n v i r o n m e n t a l c o n s i d e r a t i o n s . A feasibility study is a process where you assess the practicality of a proposed plan or method.

4. 1. ECONOMIC FEASIBILITY Economic feasibility allows the company to determine the cost and benefits analyses, which helps provide decision-makers with a list of potential economic benefits to the organization.

5. 2. TECHNICAL FEASIBILITY The technical feasibility studies can be applied to many types of projects, from software development to construction. Validate the technical resources and capabilities needed to convert the ideas into a working project or system. Technical feasibility includes checking for accessibility to technical resources and applications within the organization.

6. 3. OPERATIONAL FEASIBILITY Operational feasibility assesses how well a proposed plan fits within the existing business environment, and if developed, whether current purchasers will use it. Some variables that affect the outcome of this analysis are whether management support etc..

7. 4. SCHEDULE FEASIBILITY This is also known as time visibility, this type of feasibility study can help you determine how reasonable the project’s timeline is when measured against existing projects and available resources.

8. 5. LEGAL FEASIBILITY legal feasibility checks to ensure that all parts of the proposed project adhere to legal rules and requirements in that specific geographic area. Zoning laws, social media laws and many others need to be examined because the law must permit all aspects of the project for an organization to get consent to begin.

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