What is a feasibility study primarily concerned with?

A feasibility study is primarily focused on evaluating project viability. This means assessing whether a proposed project is practical and achievable within certain constraints, such as time, budget, technical requirements, and regulatory conditions. The goal is to determine if the project can be successfully completed and if it will deliver the desired outcomes and benefits.

During this process, factors such as economic, legal, operational, and technical aspects are examined to gauge potential risks and obstacles. This thorough analysis helps stakeholders make informed decisions about whether to proceed with the project, modify it, or abandon it altogether.

Evaluating project viability encompasses various dimensions of feasibility, including financial viability (cost-benefit analysis), operational feasibility (how the project fits within the existing business processes), and technical feasibility (if the necessary technology is available or can be developed). This comprehensive assessment is critical for successful project management.

The other options, while related to aspects of project management, do not capture the primary focus of a feasibility study. Assessing project quality pertains more to performance evaluation after a project is executed. Determining employee skill sets is about resource management rather than project viability. Analyzing market competition deals with understanding external market forces but does not directly assess whether a specific project can be effectively implemented.