ENTREPRENEURIAL OPPORTUNITIES
FEASIBILITY ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Early in thinking
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Late in thinking
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Who cares!
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Hey, it might snow!
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Detailed explanation-1: -The proper time to conduct a feasibility analysis is early in thinking through the prospects for a new business. The thought is to screen ideas before a lot of resources are spent on them. A properly conducted feasibility analysis includes four separate components, as discussed in the following slides.
Detailed explanation-2: -Time feasibility Typically this means estimating how long the system will take to develop, and if it can be completed in a given time period using some methods like payback period. Time feasibility is a measure of how reasonable the project timetable is.
Detailed explanation-3: -The feasibility study is done before the business plan is created.
Detailed explanation-4: -A feasibility study starts with a preliminary analysis. Stakeholders are interviewed, market research is conducted, and a business plan is prepared. All of this information is analyzed to make an initial “go” or “no-go” decision. If it’s a go, the real study can begin.