Legal feasibility

Legal Feasibility and its objectives.

1. LEGAL FEASIBILITY By:- Name - Rishi Kumar Gupta Stream - Int. BBA-MBA Reg No. - 161111017002

2. Need of Feasibility Study A feasibility study is an analysis of how successfully a project can be completed, accounting for factors that affect it such as economic, technological, legal and scheduling factors. Project managers use feasibility studies to determine potential positive and negative outcomes of a project before  investing  a considerable amount of time and money into it.

3. What is Legal Feasibility? Legal feasibility is the study to know if the proposed project conform the legal and ethical requirements.   It is important that the project or business is following the requirements needed to start a business or a project including business licenses, certificates, copyrights, business insurance, tax number, health and safety measures, and many more. There are some things to consider in legal feasibility study including ethical issues and some social issues. These issues are the privacy, nepotism, and accountability.

4. Main Objectives of Legal Feasibility Analysis To ensure that the project is legally doable. To facilitate risk management, indicating the risks and obstacles that need to be addressed within the technical analyses, the financial model and/or the Value for Money analysis. To avoid, to the extent possible, the major problems in the project’s development and implementation, specifying the requirements that need to be considered at subsequent stages of the PPP process.

5. Example An example of requirements needed to propose a construction project are architect contract, bid bond, bid form, equipment lease, guarantee agreement, flooring contract, electrical service agreement, construction contract, construction agreement, warranty bond, certificate of final completion, change order, contract extension agreement, and many more. These documents should be able to provide once the project will be started.