Skip to feasibility study mutate in losses when founding a startup
Posted: Aug 23, 2019
Feasibility in "Feasibility Study" is identical to entirety as viability of a project. Study in mention states the degree of a planned program conveniently done. After a concept strikes to mind, it is diverted to project shaping and then the proposal. Unless whole study about a project is not assessed, it is difficult to determine how much miles your endeavor is going to cover. CFO and CIO in an organisation are two characters involved in the processing of a feasibility study. To make you most informed intellect in the space, we take you with us on a tour to realise the concernment of such study in a project. For which reason so called project examination is important? How it needs to be carried out for succeeding your thought project? Why a to be entrepreneur should not omit feasibility study? All such will be discussed in the next text.
Driveway to feasibility study is hassle free or full?
Definition of feasibility study if has to be engraved in its simplest form, is a process of preplanning a project that comes in picture recently after the project conceptualization and before presenting its proposal format to management. Feasibility Study by BusinessBOX not only inspects the convenient technology for your company but also ensures that project fits with the corporate strategy and is within the financial reach of the organisation. CFO is the most accountable head in the enterprise that introduces the project feasibility check and keeps the details how the company is going to invest its bucks for higher yielding business. That way as far as the method of approached study is concerned it could be a tough assignment for an entrepreneur to proceed with itself, but at BusinessBOX, proficients are on the ready phase to command lips for conveying specific suggestion for the betterment of your establishment.
Why do we indirectly yet effectively say to conduct a feasibility study?
Most in many projects collapse when they are executed before viability testing has been performed. Just by ensuring the operation of a feasibility check in your venture, improves your track record and puts you in a win-win category.
During the hiring process, more companies in now, look for formal project management certification combined with the profile of project managers and enable them to implement internal methodologies for project management. Outcome to which still fetch out as failure and either at a higher rate than what it should be or could be acceptable. Perspective of many IT analysts if has to be considered, over time communication gap between project team members or stakeholders, underestimation of assigned and complete implementation of projects before feasibility study functionates - emerges as the solid reason for fails.
Is there any relevant solution to enforce?
No surprise as you can eliminate such failures by bringing in action few methodologies like:
- Scrum - It allows users and IT to get in touch and collaborate with each other from the outset of concept to implementation of a project.
- Cloud-based Project Management Software - Being accountable to enable every on-job executive of a project to view the exact status of individual tasks and the project in full, it is of plenteous use.
- Leader Project Approach - This is essential to permit functioning for large projects over which the technology in first attempt has to be confirmed and implemented causing less money and time consumption.
Mentioned in points are excellent project practices but program through which it requires to be passed is second to none - Feasibility Study. However we have not left any stone unturned on the name of efforts to explain you the consequence of not organizing such study, do hold a remember of us if you are willing to organize feasibility investigation within your firm.
Businessbox Consultancy Llc (or “Businessbox“) is a one-stop advisory firm under Qatar Financial Center (Qfc).