Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of the existing business or proposed venture, opportunities and threats as presented by the environment

Natural environment

The natural environment encompasses all living and non-living things occurring naturally on Earth or some region thereof. It is an environment that encompasses the interaction of all living species....

, the resources required to carry through, and ultimately the prospects for success

Success

Success may refer to:* a level of social status* achievement of an objective * the opposite of failure- Places :* Success, Western Australia, a suburb of Perth, Australia* Success, Arkansas, United States* Success, Missouri, United States...

. In its simplest term, the two criteria to judge feasibility are cost

Cost

In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost. In this...

 required and value

Value

Value or values may refer to:Concepts of worth:* Value theory – overview of approaches in various disciplines* Value ** Value * Value ** Theory of value ** Value investing...

 to be attained. As such, a well-designed feasibility study should provide a historical background of the business or project, description of the product

Product

- Business :*Product , an item that ideally satisfies a market's want or need**Product , a deliverable or set of deliverables that contribute to a business solution**Nanoproduct, a product that has been enhanced with nanotechnology...

 or service, accounting statements, details of the operations and management

Management

Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively...

, marketing research

Marketing research

Marketing research is "the function that links the consumer, customer, and public to the marketer through information — information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve...

 and policies, financial data, legal requirements and tax obligations.