ASSIGNMENT NO 1

Feasibility:

Feasibility studies are crucial for determining the potential success of a project. Below are some
of the key reasons why:

Cost Estimation:

Feasibility studies provide an estimate of the cost of the project. It helps determine if the project
is economically viable and whether it can be completed within the budget.

Risk Assessment:

A feasibility study assesses the potential risks associated with the project, such as market risk,
technical risk, and financial risk. It helps in identifying potential issues and allows the project
team to develop mitigation strategies to minimize these risks.

Resource Allocation:

Feasibility studies identify the necessary resources such as manpower, technology, and raw
materials needed for the project. It helps to ensure that resources are allocated efficiently, which
can help avoid delays and cost overruns.

Stakeholder Alignment:

Feasibility studies help to align stakeholders' expectations with the project objectives. This
ensures that all parties involved have a clear understanding of what the project aims to achieve
and what is expected of them.

Decision Making:

Feasibility studies provide information necessary for making informed decisions about whether
to proceed with a project or not. The results of a feasibility study can help stakeholders decide
whether the project is worth pursuing or not.
Here are a few historical or famous projects in which a feasibility study proved to be an essential
deciding factor:

The Sydney Opera House:

A feasibility study was conducted in 1955 to determine whether the construction of the Sydney
Opera House was economically viable. The study concluded that the project was feasible, and
construction began in 1959. Today, the Sydney Opera House is one of the most recognizable and
iconic buildings in the world.

The Channel Tunnel:

A feasibility study was conducted in the 1970s to determine whether the construction of the
Channel Tunnel, a railway tunnel linking England and France, was feasible. The study concluded
that the project was feasible, and construction began in 1988. Today, the Channel Tunnel is an
important transportation link between the two countries.

The Hoover Dam:

A feasibility study was conducted in the 1920s to determine whether the construction of the
Hoover Dam was feasible. The study concluded that the project was feasible, and construction
began in 1931. Today, the Hoover Dam is a major source of hydroelectric power and is
considered one of the engineering wonders of the world.

The Eurotunnel:

A feasibility study was conducted in the 1980s to determine whether the construction of the
Eurotunnel, a railway tunnel linking England and France, was feasible. The study concluded that
the project was feasible, and construction began in 1988. Today, the Eurotunnel is an important
transportation link between the two countries, carrying millions of passengers and tons of freight
each year