A feasibility study is a preliminary study undertaken to weigh up the benefits and negative impacts of undertaking a project. The purpose of the feasibility study is to take into account all factors and the time and resources such as money and materials needed as a direct result of undertaking the project will yield the required result.
Companies who undertake these pilot or feasibility studies usually incur high costs to do so, but in the long run they will save money by having accurate information on a project without having to utilise resources on a project that will prove to be worthless or fail.
Companies who undertake these pilot or feasibility studies usually incur high costs to do so, but in the long run they will save money by having accurate information on a project without having to utilise resources on a project that will prove to be worthless or fail.