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A project is economically viable if the economic benefits of the project exceed its economic costs, when analyzed for society as a whole. The economic costs of the project are not the same as its financial costs?externalities and environmental impacts should be considered.
Project environmental factors Construction technology and resources. Technology is an aspect of the environment that should be considered in developing strategic plans.Political.Physical factors.Institutional.
A project is viable if it is able to meet its objectives within the constraints of available resources. In other words, a viable project is one that can be completed successfully given the time, money, and other resources that are available.
Viability analysis. a) calculation of viability ratios: Net profit ratio=(net profit100/sales. Internal Rate of Return=(net profit100)/Total investment. BEP=(fixed cost100)/(sales-variable cost)
Feasibility is the possibility and ability for something to be done. Viability is that something's ability to survive. Sustainability is executing and maintaining that something so that it is not detrimental to the economy, to the environment nor society.
How to determine project viability Understand the project definition.Assess the risks.Assess the benefits.Choose the right project management framework.Check the feasibility of the project.Evaluate and measure the success of the project.Celebrate the successes and learn from the failures.
A viability study will assist you in determining whether a project, plan, or concept is worth pursuing. It restricts you from engaging in a business or undertaking that could result in significant losses. The research recommends spending time examining and questioning a plan.
Assessing project viability now means detailed questions such as "when should we do this project?", "why are we doing this project?", and "how will we do this project?" All are valid questions; answering them requires objectivity, a conviction to meet the corporation' s goals, and a view that encompasses short- and