Difference between revisions of "Do a Feasibility Study"
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{{fa}}Do you have a great idea for a new product? Perhaps your homemade apple jam is famous among your friends and family and you've been thinking about turning your hobby into a business. Or perhaps you would like to start a nanny cooperative but aren't sure that there's enough demand in your area to make the project worth your time and effort. Or maybe you work in local government and have been tasked with overseeing the development of a new park, but aren't sure how to begin your research. In all of these cases, you would benefit from performing a feasibility study. Put simply, a feasibility study is a process during which you test an idea's viability: will it work?<ref name="rf1">http://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html</ref> Although the specific questions you will have to address will vary depending upon the nature of your project or idea, there are some basic steps that apply to all feasibility studies. Read on to learn about the basic steps. | {{fa}}Do you have a great idea for a new product? Perhaps your homemade apple jam is famous among your friends and family and you've been thinking about turning your hobby into a business. Or perhaps you would like to start a nanny cooperative but aren't sure that there's enough demand in your area to make the project worth your time and effort. Or maybe you work in local government and have been tasked with overseeing the development of a new park, but aren't sure how to begin your research. In all of these cases, you would benefit from performing a feasibility study. Put simply, a feasibility study is a process during which you test an idea's viability: will it work?<ref name="rf1">http://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html</ref> Although the specific questions you will have to address will vary depending upon the nature of your project or idea, there are some basic steps that apply to all feasibility studies. Read on to learn about the basic steps. | ||
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