Answer to Question #186749 in Management for KAM

Question

Subject: Project Planning and Control

a)What is the contents requirement of Feasibility Report? (Please answer in 200 words)

b)Discuss the importance and steps involved in writing a feasibility study report for a new business.(Please answer in 200 words)

Answer 1

A) A feasibility report is a paper that examines a proposed solution and evaluates whether it is possible, given certain constraints. It includes six sections: introduction, background information, requirements, evaluation, conclusions, and finally, the recommendation or final opinion section.

B)

• Conduct a Preliminary Analysis. Begin by outlining your plan.
• Prepare a Projected Income Statement.
• Conduct a Market Survey, or Perform Market Research. ...
• Plan Business Organization and Operations.
• Prepare an Opening Day Balance Sheet.
• Review and Analyze All Data. ...
• Make a Go/No-Go Decision.

Feasibility studies are important to business development. They can allow a business to address where and how it will operate. They can also identify potential obstacles that may impede its operations and recognize the amount of funding it will need to get the business up and running.