The feasibility study is an evaluation and analysis of the potential of a proposed project which is based on extensive investigation and research to support the process of decision making. Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.

The feasibility study must contain several key elements, namely: The idea of the project: The nature of the project is determined in this step, whether (industrial – services – trade etc.). A simplified concept of the project is given and the environment it is intended for. The need for the project: In this item the most important reasons for initiating this project. This item should be supported with statistics such as the number of similar projects in the area. Basic raw materials for the project: There should be mention of the basic raw materials needed for the project, and where can it be purchased from. Products: The products or services made or provided by the project must be mentioned. Technical elements of the project: This should include several elements:
Stages of Manufacture: A detailed explanation of how the manufacture of any product will be done. Taking into account the balance of raw materials involved in manufacturing, and the quantities required for production. Space and location: A description of the site where the project is located and the required space and the equipment for its establishment. Service requirements of the project: This shows the needs of the project in terms of services such as water (square meters), electricity (kilowatts per hour), telephone and fuel