Project feasibility refers to the assessment of a project's viability, determining whether it can be successfully completed within the given constraints. This evaluation considers various factors, including technical, economic, legal, operational, and scheduling aspects. By analyzing these elements, stakeholders can identify potential challenges and opportunities, ensuring informed decision-making. The feasibility study typically involves gathering data, conducting market research, and evaluating resources. It helps project managers and investors understand the likelihood of success and the potential return on investment. Ultimately, a thorough feasibility analysis guides the planning process and minimizes risks associated with project management.