Feasibility studies are the pivotal tool for assessing all the factors that determine the start of businesses and projects by evaluating operations, market research, technical requirements, expected financial and social outcomes, and legal, environmental and financial documents. Moreover, a feasibility study can help project providers or owners obtain the approval they need to complete the project by analyzing each of these areas. Conducting a feasibility study is also an important step in managing a successful project, as it helps identify and evaluate potential challenges and opportunities, ensuring informed decisions are made.

Preparing a feasibility study is the first stage for any industrial or investment project to enter into implementation. Conducting a feasibility study for a proposed industrial project is an analysis of the project’s potential for success, and provides recommendations on how to improve its chances of success, and evaluate the expected financial return, environmental determinants, size and trends of its market scope and the risks involved. In this regard, a feasibility study for an investment or industrial project requires an analysis of the factors that affect the success of the project and its ability to achieve the desired financial and developmental return. Therefore, the feasibility study must be prepared accurately and professionally to ensure that all relevant factors have been properly analyzed and evaluated.

It requires market analysis and financial analysis to establish and operate the project to assess whether the project is worth investing in or not. It also requires analyzing the technical aspects of the project, including the production process, technology used, and equipment required, and analyzing external factors that may affect the success of the industrial project, and assessing their severity to develop strategies to deal with these factors and reduce risks. There is no doubt that understanding the feasibility study leads to empowering the tools necessary to prepare and implement successful industrial projects and familiarizing oneself with investment costs, capital structure, operating cost analysis, revenue projections, and identifying potential risks associated with the project, and then mastering the steps required to transform the feasibility study into a viable project.