Business Case Vs Feasibility Study
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A feasibility study is carried out with the aim of finding out the workability and profitability of a business venture.
Business case vs feasibility study. The feasibility study helps determine whether an idea or business is a viable option. Feasibility study is methods and techniques for determining economics cost expected return and probability of success. Business case concept paper white paper or issue paper are many available choices to capture a business problem possible solutions and a recommendation.
It is a precursor to the feasibility study. Feasibility study vs business plan what s the difference. While both feasibility study and business case consider worth viability and options for a new business or government initiative the focus of each document is different.
A business case develops and compares several options to address a problem. A feasibility study is an assessment of a proposed business solution and usually fits into the budget lifecycle of a project. The business plan is developed after the business opportunity is created.
The feasibility study would be completed prior to the business plan. Before anything is invested in a new business venture a feasibility study is carried out to know if the business venture is worth the time effort and resources. Feasibility studies and business case analyses are similar in that they provide information to organizational leaders to enable them to make informed decisions to move forward on a new initiative or to proceed with an existing project.
If the idea proves viable the feasibility study will include architectural drawings illustrating the implementation and end product engineering information and cost estimates to guide further development of the project.
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