Although the feasibility study is a useful tool for project deliberation, it has limitations.
•There are several purposes for which a study cannot or should not be applied.
•A study should be conducted to evaluate specific projects.
•Simulations or projection models, although useful, do not replace a specific feasibility study of a project.
•The study should not only consist of general market information but also should be personalized for the specific project.
•A feasibility study is not an academic or research paper.
•A completed study should permit a group to make better decisions about the strategic issues of its specific project.
•The study is not a business plan that is developed later in the project development process and functions as a blueprint for the group’s business operations.
•The plan presents the group's intended responses to the critical issues raised in the study.
•The results form the basis for developing a business plan.
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