These two words together give a simple meaning which is the process of knowing whether a project or idea that we want to embark on is practicable or possible. A feasibility study ensures that we know if a project is doable, profitable and worth our time and money that will be spent on it.
It is however important for us to know the reason why we must conduct a feasibility study or write a feasibility report. Once you have been able to conceptualize an idea and identify the project. What is next is to start with the feasibility study.
This is what the feasibility study and invariably the report does for you. It shows a picture of what the future of the project you want to embark on will be like some months or years after. It shows you whether the project will survive, possible or profitable. From this you can know if you should actually embark on that journey or not.
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