economy

definition of feasibility

The feasibility is a concept that takes relevance especially when carrying out a project, plan or mission is about the thing, because it precisely refers to the The probability that exists of carrying out what is intended or planned to be carried out, of achieving it effectively, that is, when something is viable, it is because it can be brought to fruition almost certainly.

On the other hand, when something does not have that characteristic, it can hardly be specified.

Whatever the project to be developed, it will be necessary to carry out a Exhaustive analysis of all those factors and conditions that will intervene to be able to establish in a preliminary way if it is possible to specify it in a satisfactory way.

Meanwhile, it will be precisely in this initiatory instance that one will be able to realize if the project that he wants to undertake has feasibility or not.

This analysis will also allow us to know if the planned project is destined to fail.

The analysis should start from an investigation that may consist of conducting a survey or studying reliable statistics that exist about the plan or project to begin.

Anyone who is about to launch a project must carry out this analysis if they do not want to lose everything.

For example, if we are about to launch a new line of umbrellas for women, we must first analyze the market in which we will enter and this includes knowing the inclinations of potential customers, what fabric or colors they prefer, for example, and we will also need to know the behavior of the competition for sure.

Once we have determined the above, we must make a projection of expenses to know how much money we need to invest in terms of: materials, human resources involved in making the umbrellas and the promotional campaign of the new brand, because we bear in mind that when dealing with of a new brand will demand its installation in the market.

It is worth noting that if there are efforts, it is possible that those projects or plans that at first seem unfeasible may reverse this condition and become possible, but if the efforts that the case demands are mediated.