Feasibility Study Templates
Download these 20+ Free Feasibility Study Templates to help you in making a professional Study Templates quickly.
Introduction to Feasibility Study:
When starting a new project, smart business owners know how important it is to evaluate and analyze the project itself. This evaluation process reveals the details that are included in a project scope report are actually true and there won’t be any surprises in the future.
The report that is prepared after this evaluation process is known as a feasibility study. In a way this feasibility study reveals if a project is actually possible to execute, if it’s possible to complete the project within budget limits, any grey areas overlooked in the project scope report, recommendations and conclusion. Business owners and organizations rely heavily on these feasibility reports because this is something that gives them some kind of insurance that a project can be completed as per the project scope report.
Key Elements of a Feasibility Study:
- Project scope
- Current analysis
- Project requirements
- Approach
- Evaluation
- Review
- Suggestions
- Conclusion
Free Customizable Feasibility Study Templates
Here we introduced some useful free Feasibility Study Templates in MS Word. Download these 20+ free Feasibility Study Templates.
Editable Feasibility Study Templates
Source: templatelab
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Guidelines to Prepare Feasibility Study:
Preliminary Analysis:
This is the first step while preparing a feasibility study and it includes initial findings about the project or a product. At this stage, you need to check the scope of the project and if it’s actually required or necessary for the customers. For instance, a company wants to introduce a new product and the feasibility report will reveal if this product is actually required or needed in that market and if it’s going to be profitable. Keep in mind that these are just initial findings and it can change later while preparing conclusion of the study.
Income Statement of Project:
This is a crucial part of the feasibility report because this reveals if a project can be completed within required budget limits. Here you need to start from the finish line and go backward to the initial stage of the project and prepare list of expenses that are necessary for the completion of the project.
Conduct Market Research:
Keep in mind that what you expect out of a project might be different than what actually comes out of it depending on the market trends and consumer behavior. It’s important to conduct a market research by the same organization that is responsible to execute the project but if it’s not possible, a third party can be hired to evaluate the market. Key focus of this part is to check what profit the project can bring for the organization and if it’s the same as the project scope report.
Project Organization and Operation:
This is the main part of the feasibility report because here you need to include all the operations required for completion of a project. This part should also mention how much manpower is required for the project, what resources should be available on site, list of equipment and services required and duration to achieve each important milestone during the execution of the project.
Prepare Capital Statement:
This part is very simple as it includes what the organization has in its account to start the project. From available money in the account to available manpower to available equipment and machines, current liabilities and accounts receivable, this part should include each and every asset available at that moment for the completion of the project.
Review Available Information:
Once all of the above steps are completed, it’s time to actually review the data and see what the numbers show. Depending on each project, this review process can bring different conclusions i.e. everything is in order and there is no need to change anything or any operation.
Give Personal Recommendation:
After the review and evaluation of the available data is completed, the last thing left for the in charge of the feasibility report is to give his personal recommendations about the feasibility or possibility of the project. He can either state that the project is feasible within budget limits and time period and it’s going to be profitable as per the project scope report or he can suggest some changes give his professional recommendations to make the project more profitable.
