What does a comprehensive feasibility study involve evaluating?

A comprehensive feasibility study is a critical assessment that seeks to evaluate the potential of a proposed project and its viability. This involves several key dimensions, including technical, economic, legal, operational, and scheduling aspects. The goal is to ascertain whether the project can be successfully implemented and sustain itself, considering various factors like resource availability, market demand, and potential ROI (return on investment).

By focusing on the project's potential and viability, the feasibility study provides a framework for decision-making. It helps identify any roadblocks that may need to be addressed before proceeding and weighs the benefits against the costs and risks. This thorough evaluation ensures that stakeholders can make informed choices about whether to move forward with the project or not.

In contrast, while stakeholders' opinions and existing processes can be important parts of the decision-making landscape, they are not the core focus of a feasibility study. Similarly, cost considerations regarding marketing may be relevant but are more specific and would typically fall under the economic analysis part of a feasibility study rather than the comprehensive evaluation of potential and viability.