Project Feasibility is a trait of any project that means the possibility to make this project practically realized. Project feasibility tells us whether a project is rational and capable of being accomplished – this is determined with a help of feasibility studies which are called to research the strengths and weaknesses of the project ideas, conceptions and assumptions. Project feasibility must be approved by the project initiators before they approach potential sponsors – if a project is poorly feasible then it is considered to be unsafe for investments (in other words it is impossible to complete this project, or just very difficult to do this in practice, so nobody will agree to sponsor it).
The major criteria to evaluate and judge a project’s feasibility are to calculate costs required against the value to be attained, to define risks associated with this project, and to review it from common sense viewpoint of course – these methods when used all together can give you an exhaustive view of your project’s feasibility. By learning the project feasibility you can say whether this project is worth of investments and other positive expectations.