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Project Feasibility Plan

A project feasibility plan is a comprehensive business plan that encompasses the entire range of activities being planned in the business. It facilities to understand the feasibility of the project, the bottlenecks in the progress and implementation, the risk factors involved, the potential for success of the project. It acts as a basic guideline and as an overview for the analysis and implementation of the project in all its stages.

In preparation of a feasible plan, the entrepreneur has to assess the need for a wide variety of resources-financial, material and human The feasibility plan will help to assess the periodic requirements of these resources. It will help the entrepreneur to give a correct position of the project to the financiers, to the market and to the clientele. It will also help him to execute the project in an organized and systematic manner so that he does not falter at any stage of his project execution.

Features of A Feasibility Plan

The features of a feasibility plan are:

(a)    It provides an executive summary of the project.
(b)    It defines the objectives of the enterprise.
(c)    It mentions the related factors or attributes of the products/services.
(d)    It carries out market survey and analysis.
(e)    It develops the parameters of marketing strategies.
(f)    It depicts the parameters of marketing strategies.
(g)    It gives a picture of human resources and management.
(h)    It presents the financial profile of the enterprise.
(i)    It provides a brief synopsis of future projections and vision of the enterprise.

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