A feasibility study is a preliminary study that is completed to determine a project's viability through identifying any fatal flaws and profitability. The results of the study are used to determine whether to proceed with the project. It provides a structured method that focuses on problems, identifies objectives, evaluates alternatives, and aids in the selection of the best solution. It also describes current market situations, explores outcomes, and assesses the range of costs and benefits associated with the recommended action.
Over the years Sugu Aria CPA,PChas completed many feasibility studies.Our feasibility studies are completed in two parts: the initial stage and the full study. The initial stage identifies the fatal flaws, quickly determining whether the project is feasible or not. If the project is found to be
feasible, a full feasibility study is completed. By completing a two-phase study Sugu Aria CPA,PCis
able to save companies valuable time and money if a project is not feasible. By conducting a feasibility study, we can improve your confidence that the recommended action is the most viable and assure you that projects requiring additional resources can be done. The feasibility study is a strong base to use when developing a business plan.