Realistic Feasibility
Realistic feasibility takes a holistic view of the project, looking at whether it can actually be done in practice, considering all the aspects involved. It involves considering if the technology, which is needed to implement the project, is reliable and can be acquired, also, whether there is sufficient human resources to implement the project successfully. It also may be used to assess the height of the learning curve for employees and whether they could realistically come up to speed in the expected time frames.
Guide on Realistic Feasibility
What is Realistic Feasibility?
Realistic Feasibility refers to the practical applicability and sustainability of a project in the real world, in terms of resources, time, technology, and operational constraints.
Importance of Realistic Feasibility:
A study of realistic feasibility is necessary to ensure that a project can be accomplished with the available resources and within a set timeframe. It helps to avoid investment in projects that cannot be implemented or sustained due to constraints.
How it Works:
In a realistic feasibility study, all project parameters - like resources, time, technology, etc., are assessed. If any of the parameters are found to be insufficient or non-viable, the project is regarded as not feasible.
How to Answer Questions on Realistic Feasibility in an Exam:
Begin by defining what Realistic Feasibility is. Provide information on why it is important and how it functions. Use real-world examples for better understanding. Be precise and to the point in your answers.
Exam Tips:
Practice by answering several different types of questions on realistic feasibility. Understand the concepts clearly. Be thorough with the key terms and parameters involved in the feasibility study. Be able to explain the impact of a realistic feasibility study on project planning and implementation.
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