What is a feasibility study?
A feasibility study is an assessment conducted to determine the practicality and potential of a proposed project or course of action. It involves a systematic and objective examination of different aspects, such as technical, economic, legal, operational, and scheduling factors. The primary goal is to determine whether a project is achievable, financially viable, and aligned with the organisation's strategic objectives. By conducting a feasibility study, stakeholders gain valuable insights into the potential challenges, opportunities, and risks associated with the project.
PRO Partner Group feasibility studies typically include one or more of the following focuses:
- Market Feasibility: This involves assessing the local business market including insight on potential customers, key competitors, market trends, analysis of different business models and research on product pricing and features.
- Technical Feasibility: This involves assessing the technical requirements and capabilities needed to implement the project successfully. It considers factors such as the availability of resources, required expertise, technology compatibility, and potential technical constraints.
- Financial Feasibility: The financial aspect of the study focuses on evaluating the project's financial viability. It includes estimating the costs associated with the project, such as initial investments, operational expenses, and expected revenue streams. Financial feasibility analysis helps determine the profitability, return on investment, and overall financial sustainability of the project.
- Legal Feasibility: This aspect examines the legal and regulatory requirements associated with the project. It involves identifying any legal constraints, permits, licenses, or compliance obligations that need to be fulfilled. Legal feasibility analysis ensures that the project aligns with applicable laws and regulations, minimising the risk of legal complications or delays.
- Operational Feasibility: Operational feasibility assesses whether the organisation has the necessary resources, skills, and capabilities to execute the project successfully. It considers factors such as staffing requirements, operational processes, potential impacts on existing operations, and the ability to adapt to changes brought about by the project.
- Scheduling Feasibility: This aspect evaluates the project's timeline and whether it can be completed within the desired timeframe. It considers factors such as project dependencies, critical paths, and potential risks that may impact the project's schedule. Scheduling feasibility analysis helps in setting realistic project milestones and determining resource allocation.
Studies are generated on a case-to-case basis to produce a more accurate report. Each business will have different requirements which assess their projects feasibility.
Feasibility studies can take from 3 weeks to 3 months depending on the scale and scope of the project. An introductory call to determine your requirements will allow us to better estimate how long your feasibility study will take to complete.
How can PRO Partner Group assist?
Our feasibility study consultants will assess the client’s business goals and objectives and ask key questions about the purpose of the feasibility study.
Reasons to conduct your feasibility study with PRO Partner Group:
- PRO Partner Group has teams on the ground in Dubai, Abu Dhabi, Oman, Bahrain, Qatar and Saudi Arabia with expertise and knowledge of the local business environments.
- Our team have extensive knowledge of mainland, free zone and offshore jurisdiction options across the GCC.
- We provide market research for companies in Dubai, Abu Dhabi, Oman, Qatar, Bahrain and Saudi Arabia.
- We provide a comprehensive corporate services platform to support your business from incorporation through the full lifecycle of your business.
- Close connections within government departments, reputable banks, business centres, recruitment/manpower agencies and free zone authorities.
- Quality insights into business sector markets.
If you would like to speak with our feasibility study consultants on your requirements, for market research on companies in Dubai or any further assistance with company setup, restructuring, local partner or PRO support matter in Abu Dhabi, Dubai, the wider UAE, Oman, Bahrain, Saudi Arabia or Qatar, then please do get in touch with us on +971 (0)4 456 1761 for Dubai or +971 (0)2 448 5120 for Abu Dhabi, email us at email@example.com or complete the contact form below and we will be delighted to assist you.