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Describe the Purpose of Feasibility Analysis

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Essay

Describe the purpose of feasibility analysis. When should a feasibility analysis be conducted relative to opportunity recognition and the development of a business plan?


Definitions:

Work in Process

Inventory representing partially finished goods that are in the process of being converted from raw materials to complete products.

Standard Costs

Predetermined costs for materials, labor, and overhead used as benchmarks for measuring performance.

Kilos

A unit of measurement equivalent to one thousand grams, used commonly across the world to denote mass in the metric system.

Raw Material

Basic substances in their natural, modified, or semi-processed states used as an input for a manufacturing process.

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