What is the purpose of conducting a feasibility study?

The purpose of conducting a feasibility study is to evaluate the profitability and viability of a project before it is developed or implemented. This process involves analyzing various aspects, including technical feasibility, economic viability, operational feasibility, and legal considerations. By assessing these factors, stakeholders can make informed decisions about whether to proceed with the project or abandon it, ensuring resources are allocated effectively and potential challenges are identified early on.

In contrast, defining project objectives is an important aspect of project management but is typically a part of the project planning phase rather than the feasibility study itself. Outlining the programming language to be used, while relevant during the technical planning of a project, does not fall under the scope of initial viability assessment. Similarly, developing user training materials is a step that comes much later in the project lifecycle, after project feasibility has been established and the project is in the implementation phase.