What is the purpose of a feasibility study?

The purpose of a feasibility study is to assess the viability of a project or proposed initiative. This process involves analyzing various factors such as economic, technical, legal, and operational aspects to determine whether the proposed project can be successfully executed and whether it aligns with organizational goals.

By conducting a feasibility study, stakeholders can identify potential challenges, resource requirements, and the overall likelihood of success before committing significant time or financial investment to the initiative. This proactive approach helps organizations make informed decisions based on data and analysis rather than assumptions or incomplete information.

Other options do not align with the primary function of a feasibility study. Enhancing team communication, developing marketing strategies, or conducting employee training are important organizational activities but do not specifically address the assessment of project viability.