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Feasibility Analysis

Feasibility Analysis - Feasibility Analysis The analytical...

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Feasibility Analysis The analytical process used to make an assessment whether an innovative project should be continued or abandoned Prevents wasting time and money on dead-end ideas The key is to fail early, fail cheaply, and don’t make the same mistake twice Fundamental dilemma Avoid discarding product/ventures that would have been successful Avoid continuing product/ventures that are flawed Components of a comprehensive feasibility analysis Product feasibility Market feasibility Organizational feasibility Financial feasibility Product/Business Concept Test Step 1: Develop Product/Business Concept Statement Product description Target market Benefits of product Market positioning relative to competing products Sales and distribution strategy Step 2: Collect Feedback on Concept Statement Comments on feasibility Recommendations for improvement
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