Feasibility Report
Good business planning is essential and necessary for the success of a business. Without proper planning, a business may fall unless appropriate and corrective actions are taken. A feasibility report is more like a business and strategic plan that steers your business into the right direction towards success.
As the name implies, feasibility report is used to determine if the project is viable and acceptable. No matter how elaborate this report is, one must prepare and develop before deciding to undertake any business or expands their investments. This report can be carried out for anything or everything, be it software development or a project plan.
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Project Feasibility Report
Business Feasibility
Financial Report
Feasibility Study Report
Feasibility Report Outline
How to Create a Feasibility Report
A feasibility report is a document that details the study of the profitability, feasibility, effectiveness of a proposed investment, and to evaluate the imminent business problem or opportunity.
The purpose of this report is to determine project parameters and define solutions to the problem that Further needs analysis.
Below is a common format of a feasibility report:
- Introduction
- Business Description
- Preliminary Evaluation of Market consideration
- Management Team
- Technical specifications and Project plan
- Marketing plans
- Critical Risk Analysis and Problem Analysis
- Financial and Economic plans
- Evaluation and conclusion
How to Write a Technical Feasibility Study Report
Unlike feasibility report, a technical feasibility report only assesses the details of how your company will deliver a particular product or service. You don’t have to include financial statement information on your technical feasibility report, but the component must support your financial data.
These are the basic things included in a business feasibility technical report:
- Materials – The materials you need to create a product or provide service
- Labor – Number of employees needed to run your business.
- Transportation and Shipping – The local or international carriers to ship your items.
- Location – The location on where you run your business.
- Technology – Technologies used to operate your business.
You may also see marketing report examples
Market Feasibility
Short Feasibility Report
Technical Report
Development Report
What about Project Feasibility Reports?
A feasibility report of projects defines the problem and opportunities of the project that is studied. The main objective of a project feasibility report executive summary is to ensure that the project is legally and technically feasible, economically justifiable and to determine the viability of an idea to a project.
Some reasons why most organizations conduct a feasibility report to a project are as follows.
- There are some projects that are not achievable and operable.
- Not every project should be taken up.
- The results of a project may not be used effectively in an organization.
Elements of a Good Feasibility Report
A good feasibility report must have these six essential elements:
- The Project Scope – Description or the definition of the business problems and opportunities
- The Current Analysis – The implementation plan and the methods of a new product or how the service is being provided.
- The Requirement – The requirements need depending on the objective of the project.
- The Approach – Action plan and effective solutions to meet the desired requirements.
- Evaluation – The evaluation and assessment of the cost-effectiveness of the chosen approach.
- Review – This will verify the accuracy of the feasibility report and make better decision making.
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