Economic feasibility study
Feasibility studies are crucial during the early development of any project and form a vital component in the business development process. Accounting and Advisory feasibility studies enable organizations to assess the viability, cost and benefits of projects before financial resources are allocated. They also provide independent project assessment and enhance project credibility.
Built on the information provided in the feasibility study, a business case is used to convince the audience that a particular project should be implemented. It is often a prerequisite for any funding approval. The business case will detail the reasons why a particular project should be prioritized higher than others. It will also sum up the strengths, weaknesses and validity of assumptions as well as assessing the financial and non-financial costs and benefits underlying preferred options.
A Deloitte feasibility study can help your organization to:
- Define the business requirements that must be met by the selected project and include the critical success factors for the project
- Detail alternative approaches that will meet business requirements, including comparative cost/benefit and risk analyses
- Recommend the best approach for preparing a business case or moving through the implementation process
Our feasibility studies and business cases can help you answer crucial questions such as:
- Have the alternatives been carefully, thoroughly and objectively examined?
- What are the consequences of each choice on all relevant areas?
- What are the results of any cost/benefit studies?
- What are the costs and consequences of no action?
- What are the impacts on the various interest groups?
- What are the timelines for decisions?
- Are the consequences displayed to make comparisons easier?