TYPE OF FEASIBILITY ANALYSIS

Feasibility analysis. The feasibility of a project can be ascertained in terms of technical factors economic factors, or both. A feasibility study is documented with a report showing all the ramification of the project.

Technical Feasibility. Technical feasibility refers to the ability of the process to take advantage of the current state of the technology in pursuing further improvement.

The technical capability of the personnel as well as the capability of the available technology should be considered.

Managerial Feasibility. Managerial feasibility involves the capability of the infrastructure of a process to achieve and sustain process improvement. Management support, employee involvement, and commitment are key element required to ascertain managerial feasibility.

Economic Feasibility. This involves the feasibility of the proposed project to generate economic benefits. A benefit – cost analysis and a breakeven analysis are important aspects of evaluating the economic feasibility of new industrial projects. The tangible and intangible aspects of a projects should be translated into economic terms to facilitate a consistent basis for evaluation.

Financial Feasibility. Financial feasibility should be distinguished from economic feasibility. Financial feasibility involves the capability of the project organization to raise the appropriate funds needed to implement the proposed project. Project financing can be a mayor obstacle in large multiparty project because of the level of capital required. loan availability, credit worthiness, equity, and loan schedule are important aspects of financial feasibility analysis.

Cultural Feasibility. Cultural feasibility deals with the compatibility of the proposed project with the cultural setup of the project environment. In labour intensive project, planned function must be integrated with the local cultural practices and beliefs.

For example, religious beliefs may influence what an individual is willing to do or not do.

Social Feasibility. Social feasibility addresses the influences that a proposed project may have on the social system in the project environment. The ambient social structure may be such that certain categories of workers may be in short supply or nonexistent. The effect of the project on the social status of the project participants must be assessed to ensure compatibility. it should be recognized that workers in certain industries may have certain status symbols within the society.

Safety Feasibility. Safety feasibility is another important aspect that should be considered in project planning. Safety feasibility refers to an analysis of whether the project is capable of being implemented and operated safely with minimal adverse effects on the environment. Unfortunately, environmental impact assessment is often not adequately addresses in complex project. As an example, the North America Free Trade Agreement (NAFTA) between the U.S. Canada, and Mexico was temporarily suspended in 1993 because of the legal consideration of the potential environmental impacts of the project to be undertaken under the agreement.

Political Feasibility. A politically feasible may be referred to as a “ politically correct project “. Political consideration often dictate the direction for a proposed project.

This is particularly true for large projects with national visibility that may have significant government inputs and political implications. For example, political necessity may be a source of support for a project regardless of the project’s merits.

On the other hand, worthy project may face insurmountable opposition simply because of political factors. Political feasibility analysis requires an evaluation of the compatibility of project goals with the prevailing goals of the political system.

~ oleh bicaraproperty pada Agustus 19, 2009.

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