Project viability refers to the likelihood that a project will succeed and achieve its intended goals. It involves assessing various factors such as financial feasibility, technical requirements, and market demand. By evaluating these elements, stakeholders can determine whether the project is worth pursuing or if adjustments are needed. Key components of project viability include cost analysis, risk assessment, and resource availability. A thorough examination of these factors helps ensure that the project can be completed within budget and on time, ultimately leading to successful outcomes for all parties involved, including investors and team members.