Feasibility Study Services
IBR GROUP provides thorough, reliable, and fast feasibility reports in order to provide effective and specialized feasibility study services in the UAE, KSA, Qatar, Bahrain, Oman, UK, and USA. One important step in the administration of a firm is a feasibility study. A crucial component of business planning is viability analysis, which aids in projecting and estimating future profitability. One of the infamous management consultancy services we provide to our clients includes feasibility research services.
What is Feasibility Study?
Organizations must do a comprehensive feasibility analysis in order to determine the likelihood that projects will be completed successfully. Feasibility studies are used by organizations to determine the potential benefits and drawbacks of a project. This is carried out prior to devoting important funds and time to it.
A feasibility study provides a fair evaluation of the viability of a concept, undertaking, or method. This important study looks at financial, legal, economic, and technical aspects. The analysis should ideally point forth the benefits as well as the drawbacks of a suggested project or current system.
Types of Feasibility Study
There are various kinds of feasibility studies that address various topics based on the needs and business model of the company:
- Financial Feasibility
- Market Feasibility
- Mechanical Feasibility
- Technical Feasibility
The results of the feasibility study should include a wide range of unique options that will enable you to critically assess the financial results and raise issues with the core assumptions, giving you the confidence to proceed with the company concept. For this reason, a well-written feasibility analysis is crucial when deciding what to do in business.
Why a business needs Feasibility Study Services?
A well-researched and carried out feasibility study can effectively detect prospective problems that may occur during project implementation and comprehend the financial, operational, and other potential organizational implications. After taking into account all the contributing aspects, it decides whether the project will be fruitful.
After performing a complete feasibility study to determine whether the decision is possible or not, a decision is made based on the facts and research. Feasibility study services are a standardized analysis to understand the legal, political, and economic environment of the location. The feasibility study’s main goal is to determine whether or not the decision should be carried out by the company.
Objective of Feasibility Study
In the business sector, making a decision without fully understanding how it will affect and influence the company is considered business suicide. Making a decision without first performing a feasibility study will negatively impact your project or business both financially and technically; taking the incorrect course will cost you both money and effort.
A significant process in business administration is a feasibility study. The following goals are pursued by the feasibility study:
- To determine whether the project is worth undertaking, after a thorough investigation
- To recognize thoroughly all facets of the project, concept, or plan
- It projects the expected benefits of the investment
- To identify the amount of capital it will need to get the business geared up
- To prepare the company from going blindly into an uncertain industry or business
- To become conscious of any potential glitches that could impede the implementation of the project
Elements of Feasibility Study Services
Typically, our feasibility study services in the UAE, KSA, Qatar, Bahrain, Oman, UK, and USA consist of multiple components.
Project Overview a summary of the project, the goods and services provided, the business plan, and the delivery mechanism.
Market feasibility outlines the industry, rivals, potential future and present markets, and sales projections for potential customers.
Technical feasibility contains information regarding the delivery of goods or services, such as labor and raw materials. transportation, necessary technologies, places of business, etc.
Financial feasibility a forecast plan that details the amount and kind of capital needed as well as the anticipated P&L, balance sheet, cash flows, etc. This contains sensitivity analysis, a description of the study’s assumptions, and a graphical display of the most important financial facts.
Organizational feasibility An description of the company’s corporate and legal structure; this could include information about the founders’ backgrounds, experience, and abilities that can aid the business in starting and growing.
Importance of Feasibility Studies
- It allows a business to decide where and how it will function
- Discover fresh possibilities
- It helps identify potential impediments that may hinder its operations
- Business is guided in the proper path
- It helps determine the amount of funding it will need to get the business up and running
- Assists in making crucial decisions
It helps aim for marketing strategies that could help persuade investors that capitalizing on a particular project or business is a wise choice.
Looking for Feasibility Study Services?
Using both traditional and cutting-edge methodologies, IBR GROUP Auditing uses its extensive knowledge of both local and international markets to provide comprehensive management consulting services that will help you make well-informed decisions before starting your business. All evaluations are conducted in a lawful and moral manner, taking into consideration industry-specific norms, rules, and rivalry.
One of the leading companies in the UAE, GCC, UK, and USA for feasibility study services is IBR GROUP Auditing. We identify more effective business improvement techniques. Since we are customer-focused, ensuring that they are satisfied is our first priority.