A feasibility study is an assessment of the practicality of a proposed or system. A feasibility study aims to objectively and rationally uncover the strength and weakness of an existing business or proposed venture, opportunities and threats presents in the natural environment. The resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.
A well-designed feasibility study should provide a historical background of the business or project, a description of the product or service, accounting statements, detailed of the operations and management marketing research and policies, financial data, legal requirement and tax obligation Generally, feasibility studies precede technical development and project implementation. A feasibility study evaluates the project’s potential for success; therefore, perceived objectivity is an important factor in the credibility of the study for potential investors and lending institutions.
Thus PEMAC conducts feasibility study with an objective, unbiased approach to provide information upon which decisions can be based.