A feasibility study in Bahrain examines a number of variables and can reveal that even though a project might be profitable or beneficial to a company, there aren’t enough resources to pull it off. A feasibility study could also show that the project is feasible but only at a specific time. Conducting a feasibility study helps in determining the likelihood of success and can indicate how and when to do a project.
Our team of business consultants have a wide range of experience in preparing feasibility studies for all sorts of businesses, from IT companies to restaurants and boutiques.
Benefits of Feasibility Studies
Just because you can undertake and finish a project doesn’t mean that you should pursue it. A profitable project might drain your resources in other areas or limit your ability to pursue another project that would provide a larger return on your investment. Project feasibility studies show you the risk/reward benefit, opportunity costs and overall return.
Optimal Timing Identification
A project that is easy to do in the spring might cause significant stress on your company if you try to do it in the winter. This all depends on your labor, production capacity, supply chain, cash flow and financing options.
Our feasibility studies look at the quality of your staff rather than just the quantity. For example, an Internet company’s graphic artists might have plenty of time to help the business launch a print magazine, but these artists might not be trained to create a magazine grid, understand print typography or know how to create sections of a magazine such as departments, columns and feature wells. A sales force that relies on high-volume cold calling using a sales-oriented approach might not be qualified to sell a new service that requires a consultative selling approach.
Supply Chain Management
A project that seems like a no-brainer might put too much stress on one or more areas of your company, causing more damage than good to your overall business. For example, launching a new product could prove profitable on paper but might need significant marketing planning and execution. If your marketing staff is already working at full capacity, you will need to divert their time from other profitable efforts or accept a less-than-optimal effort on your new launch. Making and selling a product and service can also stress your production, billing, sales, warehousing and shipping functions.
Cash Flow Projections
You might need to hold off on undertaking a project until you have enough cash on hand to fund the effort. You might have good sales in January, but if you offer creditors 90-day terms, you won’t be able to use the cash from those sales to start your project until April.
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