A Feasibility Study Report

19 December 2010

The contents of a feasibility study report are vital the success of any project being proposed by a business. The approach that is taken by the team along with their thoroughness is very important to the success or failure of the project itself.

In the feasibility study report near the beginning be stated what the actual goals of the study are. Then a brief description of how the goals are to be attained. One of the critical elements is how and who the target audience is. Without a target audience that is receptive to the deliverable that will be produced, the project should not proceed.

During the course of creating the feasibility study report, the team should always keep an eye out for a more receptive audience. In many instances, the original target audience might be receptive, but there is one that has more potential. For this reason there should always be more than one demographic, age or profession included in the types of audiences that data will be collected on.

The different areas of data that should be collected in a feasibility study report should be the acceptable price, size, quality and quantity that the target audience is receptive too. If this is a consumer good, then the color and visual appearance also plays a large factor in it. All of this data has to be collected from every conceivable target audience so the proper assessment can be made.

Before any feasibility study report can be concluded the team collecting the data must first review the data and look for any possible patterns that can be exploited. If while going over the data and questions arise, then the answers should be sought out prior to concluding the study.

Once the feasibility study report is finalized and submitted, a large amount of weight is placed on it including the decision to go ahead with the project or making modifications to the goals and scope of the project.  One of the largest factors on a positive outcome is will the deliverable sell in quantities sufficient to make it worth the investment in time and resources to produce it by the company.