WEEK 10 : FEASIBILITY STUDY

OBJECTIVE : 

• Used to determine the viability of an idea, such as ensuring a project is legally and technically feasible as well as economically justifiable
• tells us whether a project is worth the investment—in some cases, a project may not be doable. 

METHOD : 

• Market feasibility – describes the industry, the current and future market potential, competition, sales estimations and prospective buyers.
• Technical feasibility – lays out details on how a good or service will be delivered, which includes transportation, business location, technology needed, materials and labor.
• Financial feasibility – a projection of the amount of funding or startup capital needed, what sources of capital can and will be used, and what kind of return can be expected on the investment.

RESULT : 

• For this project, in future it can be used for hikers in Malaysia.
• There are many facilities that include for this application solar backpack
• This project will go further with advanced components and micro-controller that used in this project 

Benefits of Feasibility Studies:

1. Improves project teams’ focus
2. Identifies new opportunities
3. Identifies a valid reason to undertake the project
4. Aids decision-making on the project
5. Identifies reasons not to proceed

ANALYSIS :

• Goal is to place emphasis on potential problems that could occur if a project is pursued and determine if, after all significant factors are considered, the project should be pursued. 
• Feasibility studies also allow a business to address where and how it will operate, potential obstacles, competition and the funding needed to get the business up and running.

CONCLUSION : 

• Feasibility studies contain comprehensive, detailed information about my business structure, my products and services, the market, the logistics of how i will deliver a product or service, and the resources i need to make the project run efficiently.