A feasibility study examines the practicability of a proposal, hotel or concept idea. The principal function of this is to determine if the project will be 'feasible' or not!
The feasibility report will look at how a certain concept/idea can work in a long-term basis or endure financial risks that may come. It is also helpful in recognizing potential cash flow issues. Another important purpose is that it helps designers and architects to focus on the right concept. Accordingly, a feasibility study can provide reasons not to pursue the said project or concept.
When it comes to the operational aspect, the analysis determines whether the idea has the necessary resources for it to be practicable. It will also help you figure out whether or not the market will support the subsequent product or service. Additionally, you can have knowledge on the trends because a feasibility study looks at the present-day market and studies the anticipated growth of your target business sector.
The duration for a feasibility study is very much depend on the location of your project, the size of the project and complexity of the task.
So why would you do a feasibility study? Basically its done to give you answers to the following questions
This is hard to answer as it is also very much depend on project location and the complexity of the task.
The following is the standard
Depending on client needs we can include also others which needs to be researched