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PROJECT FEASIBILITY STUDY

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INTRODUCTION

As the name implies, feasibility study is an analysis of the viability of an idea. It ensures that a
project is legally and technically feasible and economically justifiable.
Moreover this study can be used in various ways with focus on the proposed business. It tells us
whether a project is worth doable or not? Feasibility study is a must because:

Every Project is not doable.

Not every project should be done.

Not every project makes use of effective resources of company.

In its simplest terms, the two criteria to judge feasibility are cost required and value to be
attained. A well-designed study should provide a historical background of the business or project,
a description of the product or service, accounting statements, details of the operations and
management, marketing research and policies, financial data, legal requirements and tax
obligations.
Generally, such studies precede technical development and project implementation.
A feasibility study evaluates the project's potential for success; therefore, perceived
objectivity is an important factor in the credibility of the study for potential investors and
lending institutions
Five different areas of Project Feasibility:
Technical Feasibility assessment is focused on the present technical resource available in the
organization. It studies if the technical resources including the technical team are capable of
converting the ideas into working system. It also evaluates the hardware and the software
requirement of the proposed system.
Economical Feasibility studies enable organizations to assess the viability, cost and benefits of
projects before financial resources are allocated. They also provide independent project
assessment and enhance project credibility. It also helps to determine the positive economic
benefits to the organization that the proposed system will provide. It includes quantification and
identification of all the benefits expected. This assessment typically involves a cost/ benefits
analysis of the project.
Legally Feasibility of the project determines whether the proposed system conflicts with legal
requirements like any data protection act or any social media law.
Operation Feasibility, under which we conduct a study to analyze and determine whether your
business need can be fulfilled by using a proposed solution. It also measures how well a
proposed system solves the problems, and takes advantage of the opportunities identified during

scope
definition
and how it satisfies the requirements identified in the requirements analysis
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phase of system development. To ensure success, desired operational outcomes must be imparted
during design and development. These include such design-dependent parameters such as
reliability, maintainability, supportability, usability, disposability, sustainability, affordability and
others.
Scheduling Feasibility is the most important in terms of project success. A project will fail if not
completed on time. In scheduling feasibility we estimate how much time the system will take to
complete and with our technical skill we need to estimate the period to complete the project
using some methods.

PROBLEM STATEMENT
Conducting a feasibility study is always beneficial to the project and it gives a clear picture of
your idea. Below are the top benefits of this study:

Gives focus to the project and alternative outline.

Narrows the business alternative.

Identifies the reason to do the project.

Enhances the success rate by considering multiple factor.

Helps in decision making of the project.

Provides a detailed documented status to the business.

Apart from the above mentioned feasibility there are some other constraints required to analyze
like:

Internal Project Constraints: Technical, Technology, Budget, Resource etc.

Internal Corporate Constraints: Financial, Marketing, Export etc

OBJECTIVES OF THE STUDY

To understand the Project Feasibility Study.
To understand the Scope and Importance of Project Feasibility Study.
To understand the Challenges and issues in Project Feasibility Study.
To take the respondents view regarding Project Feasibility Study.

SCOPE
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Scope of the Study is to understand the Project Feasibility Study.

To contribute to the growth of the organization.

There is no such research work was carried before.

COMPANY PROFILE

Toyota Motor Corporation is a Japanese automotive manufacturer headquartered in Toyota,

Aichi, Japan. In March 2014 the multinational corporation consisted of 338,875 employees
worldwide and, as of November 2014, is the eleventh-largest company in the world by revenue.
Toyota was the largest automobile manufacturer in 2012 (by production) ahead of
the Volkswagen Group and General Motors. In July of that year, the company reported the
production of its 200-millionth vehicle. Toyota is the world's first automobile manufacturer to
produce more than 10 million vehicles per year. It did so in 2012 according to OICA, and in
2013 according to company data. As of July 2014, Toyota was the largest listed company in
Japan by market capitalization (worth more than twice as much as #2-ranked SoftBank) and by
revenue.
The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his
father's company Toyota Industries to create automobiles. Three years earlier, in 1934, while still
a department of Toyota Industries, it created its first product, the Type A engine, and, in 1936, its
first passenger car, the Toyota AA. Toyota Motor Corporation produces vehicles under 5 brands,
including the Toyota brand, Hino, Lexus, Ranz, and Scion. It also holds a 51.2% stake
in Daihatsu, a 16.66% stake in Fuji Heavy Industries, a 5.9% stake in Isuzu, a 3.58% stake in
the Yamaha Motor Company, and a 0.27% stake in Tesla, as well as joint-ventures with two in
China (GAC Toyota and Sichuan FAW Toyota Motor), one in India (Toyota Kirloskar), one in
the Czech Republic (TPCA), along with several "nonautomotive" companies. TMC is part of
the Toyota Group, one of the largest conglomerates in the world.
Toyota is headquartered in Toyota City, Aichi. The main headquarters of Toyota is located in a
four-story building in Toyota. As of 2006 the head office has the "Toyopet" Toyota logo and the
words "Toyota Motor". The Toyota Technical Center, a 14-story building, and the Honsha plant,
Toyota's second plant engaging in mass production and formerly named the Koromo plant, are
adjacent to one another in a location near the headquarters. Vinod Jacob from The

Hindu
described
the main headquarters building as "modest".In 2013 company head Akio
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Toyoda reported that it had difficulties retaining foreign employees at the headquarters due to the
lack of amenities in the city

RESEARCH METHODOLOGY
Research methodology stands for the ways & means that we adopt for conducting research. In
this we study the various steps that are generally adopted by a researcher in pursuing the research
Research methodology consist of enunciating the problem, formulating the hypothesis, collecting
the facts of data, analyzing the fact and reaching certain conclusion either in the form of
solutions towards the concerned problem or in the form of certain generalizations for some
theoretical formulation.
All progress is born of enquiry. Dealt is often better than overconfidence for it leads to inquiry,
& inquiry leads to invention.
All progress is born of enquiry. Dealt is often better than overconfidence for it leads to inquiry,
& inquiry leads to invention.
Research methodology is a way to systematically solve the problem. It may be understood has a
science of studying how research is done scientifically. In it we study the various steps that all
generally adopted by a researcher in studying his research problem along with the logic behind
them.
The scope of research methodology is wider than that of research method.
Research is defined as a scientific & systematic search for pertinent information on a specific
topic. Research is an art of scientific investigation. Research is a systemized effort to gain new
knowledge. It is a careful inquiry especially through search for new facts in any branch of
knowledge. The search for knowledge through objective and systematic method of finding
solution to a problem is a research.
RESEARCH DESIGN
A research is the arrangement of the conditions for the collections and analysis of the data in a
manner that aims to combine relevance to the research purpose with economy in procedure. In
fact, the research is design is the conceptual structure within which research is conducted; it
constitutes the blue print of the collection, measurement and analysis of the data. As search the
design includes an outline of what the researcher will do from writing the hypothesis and its
operational implication to the final analysis of data.

The Page
design| 6is such studies must be rigid and not flexible and most focus attention on the
following;
The present study is exploratory in nature, as it seeks to discover ideas and insight to brig out
new relationship. Research design is flexible enough to provide opportunity for considering
different aspects of problem under study. It helps in bringing into focus some inherent weakness
in enterprise regarding which in depth study can be conducted by management.
The research design used in this project by the researcher is the descriptive research design.

Descriptive research design

It is well structured.
It is more economical, we can gather more information.
Problems can be found after the questionnaire preparation.
It needs less time.
Data Collection
For any study there must be data for analysis purpose. Without data there is no means of study.
Data collection plays an important role in any study. It can be collected from various sources. I
have collected the data from two sources which are given below:
Primary data : A survey will be conducted to gather primary data from the market here the main
emphasis will be given on the supply chain practices followed by different companies. It will
help us to know the general practices being followed in the market. The executives of the
company will be interview for knowing the better insight of the company.
Data observed or collected directly from first-hand experience. Data, or facts, may be derived
from several sources. Data can be classified as primary data and secondary data. Primary data is
data gathered for the first time by the researcher; secondary data is data taken by the researcher
from secondary sources, internal or external. The researcher must thoroughly search secondary
data sources before commissioning any efforts for collecting primary data. There are many
advantages in searching for and analyzing data before attempting the collection of primary data.
In some cases, the secondary data itself may be sufficient to solve the problem. Usually the cost
of gathering secondary data is much lower than the cost of organizing primary data. Moreover,
secondary data has several supplementary uses. It also helps to plan the collection of primary
data, in case, it becomes necessary. We shall therefore discuss secondary data first and then take
up primary data.
Talking with the employees of the department.
Discussion with the head of the department.
Secondary data collection methods
Published data and the data collected in the past or other parties is called secondary data

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Companies
and other websites
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Reports /Articles/Blogs
magazines/journals News papers/business magazine
Published Sources such as Journals, Government Reports, Newspapers and
o Magazines etc.

Unpublished Sources such as Company Internal reports prepare by them given to their
analyst & trainees for investigation.
Websites and some official site, some other sites are also searched to find data
Research Plan: Research Plan is no specific for all types of research; it is decided depending
upon the nature of the problem
Designing a research plan calls for decisions on
1. Data sources
2. Research Instruments
3. Sampling plan
4. Contact methods.
Limitations:
Time pressure and fatigue on the part of respondents and interviewer.
Respondents inability to formulate a response.
Tool used:
The researcher carries out analysis through various statistical tools. The statistical analysis is
useful for drawing inference from the collected information. While making the project file
various tools will be used.
These are: Frequency Table
Microsoft Excel
Microsoft Word
Various analysis tools like Bar Graphs, Pie Graphs, tables
Sampling procedure / Sampling method
The sampling method used for this study is non-profitability convenience sampling, which is
selected according to the easy and convenience of the researcher.
Geographical Area: The study is conducted in India.
Research Instrument
Research instrument used for data collecting is by using questionnaire.

Questionnaire
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The questionnaire is prepared in a well-structured and non disguised form so that it is easily
understandable and answerable by everyone. The type of questions include in the questionnaire
are open-ended questions, multiple choice questions and dichotomous questions

FURTHER DIRECTION OF FUTURE RESEARCH

Feasibility studies for construction projects
Feasibility studies are preliminary studies undertaken in the very early stage of a project. They
tend to be carried out when a project is large or complex, or where there is some doubt or
controversy regarding the proposed development. If an environmental impact assessment (EIA)
is required, this may involve assessments best undertaken as part of feasibility studies.

The purpose of feasibility studies is to:

Establish whether the project is viable.

Help identify feasible options.
Assist in the development of other project documentation such as the business case, project
execution plan and strategic brief.

On large or complex projects, there may be a number of different feasibility studies carried out,
sometimes requiring different skills, and considering issues such as:

Planning permission.
The likelihood that an environmental impact assessment will be required.
Other legal / statutory approvals.
Analysis of the budget relative to client requirements.
Assessment of the potential to re-use existing facilities or doing nothing rather than
building new facilities.
Assessment of any site information provided by the client.

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Site |appraisals,
including geotechnical studies, assessment of any contamination,
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availability of services, uses of adjoining land, easements and restrictive covenants,
environmental impact and so on.
Considering different solutions to accessing potential sites.
Analysis of accommodation that might be included or excluded.
Assessment of the possible juxtaposition of accommodation and preparing basic stacking
diagrams.
Assessing operational and maintenance issues.
Appraisal of servicing strategies.
Programme considerations.
Procurement options.

Various stakeholders, statutory authorities and other third parties may need to be consulted in the
preparation of feasibility studies.

The assessments carried out should be presented in a structured way so the client can decide
whether or not to proceed to the next stage. Wherever possible, any information prepared or
obtained should be in a format which can be readily shared and used, and should be stored and
named in a way consistent with the long-term project and operational needs

BIBLIOGRAPHY

https://en.wikipedia.org/wiki/Feasibility_study
https://www.extension.iastate.edu/agdm/wholefarm/html/c5-65.html
www.investopedia.com/terms/f/feasibility-study.asp
www.slideshare.net/marsmfyam/project-planning-and-feasibility-study
www.brighthubpm.com Project Planning