- July 31, 2020
- Posted by: Dhivya Krishna
- Category: Uncategorized
What is the Feasibility Study?
In today’s world, business firms are rapidly growing. People’s choices are changing because of all the advertisements and features any new company gives. The companies are confused if the investors are potential to their firms or not. Here, the word feasibility service arrives!
The feasibility study is one of the most important inspections when you are subsidizing any business! Let’s have a study about feasibility study consultants in the UAE.
Feasibility study, as the word says, is to determine whether the project or venture is feasible (conveniently satisfied) or not. The outcome of this feasibility study is to report if it’s feasible enough or not. The studies’ main goal is to bring out the strength and weaknesses of a project or venture. Shortly, a feasibility study means the criteria to judge the potential. The feasibility study should guarantee a historical record of the business, an explanation of the product, accounting and financial statements, details of the systems and management, marketing research and policies, financial data, formal regulations, and tax obligations. The feasibility consultants assess the environmental, economic, technical, and quality of life aspects.
A feasibility study consultants service takes a lot of time and resources. But, if the feasibility study is not done, many significant losses in the future will be there. Pre-feasibility services need to be done in order to find out if the business proposal is viable. This study can be done by the members of your business or even by any individual consultant. If a recommendation has viability, you can move forward with the feasibility examination, using the data collected.
If you want a quality business feasibility service in UAE, you must devote the time and the money to hire an experienced organizational consultant. KGRN helps you in hiring the best feasibility consultants in the UAE to make business plans and to conduct a feasibility service with accurate feasibility reports!
Elements of a Feasibility Study:
The following are the elements of a feasibility study consultants:
- Project Overview
- Market feasibility
- Technical feasibility
- Financial feasibility
- Organizational feasibility
Benefits of conducting a feasibility study:
At the end of the feasibility study, the following benefits can be listed out in the feasibility report:
- Focus on the team projects
- New opportunities are created
- Recognizes a valid reason to attempt the project
- Guarantees the success rate
- Project’s decision making is attempted
- Reasons telling not to proceed are also given
KGRN conducts research independently, with our own resources, and works with leading market research firms in the UAE to obtain authentic market data, which, in turn, forms the foundation of a good feasibility study.
The feasibility consultant delivers the feasibility report through both softcopies and hard copies.
Range of Industries:
- Real Estate
How to write feasibility reports?
- The project description must be written
- All the possible solutions are listed out
- Evaluation criteria are listed out
- The best feasible solutions are reported
The above mentioned is the procedure to frame feasibility reports.
Steps to conduct feasibility study:
The following are the steps taken to conduct a feasibility study:
1. Preliminary analysis is conducted first
2. The income statement of the company is written down
3. Market survey is done
4. Business plans are made
5. The balance sheet is reported
6. All the data are analyzed and verified
At the end of the feasibility study, the following are the reports that will be produced:
Technical, market, financial, legal, economic, resources feasibilities, cost estimation, revenue projection
Duties of a feasibility consultant:
The below mentioned are the duties of a feasibility consultant:
- Needs and demands of the customer
- Supply Chain & Distribution Strategies
- Business & Marketing Strategies
- Market Outlook
- Consumer Behavior
- Market Entry Strategies
- Financial Projections
- Financial modeling
- Revenue projections
- Cost estimations
- Financial statement projection
- Return analysis
- In Dubai, KGRN is a multi-purpose accounting firm connected all over the world.
- KGRN is a common and trustworthy platform for all feasibility consultants and feasibility services.
- We are registered duly licensed
- All the experts of the best feasibility study services in Dubai are a part of the KGRN
- We will guide you throughout the price
- No hidden charges will be charged
- Thousands of happy and satisfied customers
- On-time delivery
- We provide instant updates about the process and guide you throughout the process
1. Who is responsible for the feasibility study?
A product manager is responsible for the product feasibility study. He/she takes the primary role in taking care of the feasibility study
2. What is it used for?
It is used to analyze and examine the viability, making sure of the project or venture is feasible or not.
3. What are the three types of feasibility?
There are three types of feasibility. They are:
- Technical feasibility
- Operational feasibility
- Economic feasibility
4. What are the key elements of a feasibility study?
The following are the key elements of a feasibility study:
- Details about the problems to be studied
- Analysis of the operation
- List of requirements
- The course of action of elements
5. Why conduct a Feasibility Study?
In order to understand the feasibility and potential of the projects or ventures, a feasibility study is done. The feasibility reports are finalized.
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