Homonym: Feasibility (Viability)
Feasibility refers to the practicality and viability of a proposed project or idea. It assesses whether the project can be successfully implemented within the given constraints, such as time, resources, and budget. A feasibility study often evaluates technical, economic, legal, and operational aspects to determine if the project is worth pursuing.
In business, feasibility is crucial for decision-making. It helps organizations like startups and investors understand potential risks and benefits before committing resources. By analyzing factors such as market demand and competition, feasibility studies guide strategic planning and increase the likelihood of project success.