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    DIFFERENCE

    Uploaded by

    Shaikh Ubaid Ur Rehman

    Copyright:

    © All Rights Reserved
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    DIFFERENCE

    Uploaded by

    Shaikh Ubaid Ur Rehman
    12 views3 pages

    Original Title

    DIFFERENCE (3)

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    12 views3 pages

    DIFFERENCE

    Uploaded by

    Shaikh Ubaid Ur Rehman

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    DIFFERENCE BETWEEN PROJECT FEASIBILITY, PROJECT REPORT &

    PROJECT EVALUATION

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    Project Feasibility .A
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    Project feasibility refers to reasonable probability that constraints on “Time” & Other
    “Resources” that will not hinder a project from meeting its key objectives.

    Feasibility means proficient of being done, with means at hand & circumstances, as they are.

    Project feasibility can be thought as the acclimatized & detailed process of thinking through an
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    idea from its “Logical beginning to its Logical End”. Does the Input =the Output?” or “Can It
    Work?” Usually the Project Feasibility Study is the next stage after a project is proposed.

    Organizational requirements in projects may cause multiple projects to be proposed. But, it is


    during the feasibility study stage when experts try to figure out if the project is technically and
    financially feasible. Only if a project is feasible would it go the next stage where it will be
    Fr

    initiated, planned and executed.

    Feasibility literally means whether some idea will work or not. It knows beforehand whether
    there exists a sizeable market for the proposed product/service, what would be the investment
    requirements and where to get the funding from, whether and wherefrom the necessary technical
    know-how to convert the idea into a tangible product may be available, and so on.

    In other words, feasibility study involves an examination of the operations, financial, HR and
    marketing aspects of a venture on ex ante (Before the venture comes into existence) basis.

    1
    Hope by now, you would have understood that feasibility is a multivariate concept; that is, a
    project has to be viable not only in technical terms but also in economic and commercial terms
    too. Moreover, there always is a possibility that a project that is technically possible may not be
    economically viable.

    Purpose of a Project Feasibility:

    To help assess “Viability of a business idea-Technically, Operationally & Economically. This is


    to conclude its potential to be a feasible business given realities of the economic & social
    environment in which it will operate. It also provides client with a solid justification upon which
    a project is built. Project Feasibility provides:

    – Concept assimilation

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    – Estimates of supportable market
    – Design parameters
    – Estimates
    – Revenue projections
    – Net warranted investment

     Types of Feasibility:

     Technical Feasibility .A
    Dr
     Managerial Feasibility
     Economic Feasibility
     Financial Feasibility
     Social Feasibility
     Safety Feasibility
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     Political Feasibility
     Market Feasibility

    Project Report

    The findings of the feasibility analysis may be compiled in a project report. These findings may
    Fr

    be vetted by the independent consultants/experts. Funding agencies have their own set-up for the
    appraisal of these reports. The idea is that the optimist entrepreneur may have overlooked certain
    aspects that may have a bearing on the ultimate feasibility of the proposed idea.

    It is often felt that financial institutions tend to overemphasize the financial feasibility of the
    project and do not pay adequate attention to its commercial and economic viability. This
    security-driven approach is forwarded as one of the reasons why some promising ventures are
    turned down despite their sound techno-economic viability.

    Formal reports are often produced during the execution of the projects as well as at and after
    project completion. Hence, completion of project execution is not the end of the project's
    contributions to the development process. Although, at this stage, the project may have

    2
    succeeded in generating the components, the purpose and goal level development objectives are
    sometimes far from being reached as many assumptions at these levels still need to be confirmed.
    Additionally, an increasingly important aspect of project performance is its contribution to future
    Bank lending operations, and what lessons the Borrower learns from the experience.

    Project Completion Report includes the following elements.

     Project Identification
     Project Description
     Project Results
     Major Lessons Learned
     Recommendations

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    Project Evaluation
    The final phase in the project cycle is project evaluation. The analyst looks systematically at the
    elements of success and failure in the project experience to learn how to plan better for the future.

    The basic aim of such a study is to verify the factual utility of a project or programme as far as
    possible.

    .A
    Practically, evaluation may be defined as "a process which attempts to determine as systematically
    and objectively as possible the relevance, effectiveness and impact of activities in the light of the
    Dr
    objectives".

    It is, thus, a critical analysis of the factual achievements of a project, programme or policy the
    intended objectives, crucial assumptions, strategy and resource commitment. In peculiar terms, it
    makes an all one’s got to evaluate objectively the following:-
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    (a) the application and authority of the purposes and draft of the project in terms of broader issues of
    development policy, sector/sub-sector priorities and strategies as well as other problems of a wider
    nature;

    (b) The competency and commensurateness of the speed of progress of the project where the center
    focus is mainly on managerial performance and productivity;
    Fr

    (c) The effectiveness of the project- a major part of an evaluation exercise-in realizing the intended
    objectives from a variety of angles

    (d) The identification of reasons for the satisfactory or unsatisfactory accomplishment of the results
    of the project and to cogitate analytical issues and which may be of relevance to other on-going and
    future projects of a similar nature.

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