The basis for the success of any project or business, whether small or large is good management and preliminary study of the project
The initial analysis of the study of project ideas and potential obstacles to save a lot of effort, time and money so that the investor should study the expected services to be provided by the project and its benefits and target markets and determine the service that the project will provide to customers that are not on the table before and study the level of supply and demand for the project and evaluate This preliminary study includes all the potential problems and challenges of the project such as financing, finding a shop, service, advertising …
Calculation of financial costs:
The project cost calculation step is one of the most prominent steps of the feasibility study / project study regardless of the type of project, the calculation of the expected financial cost is the key point to determine the extent of its schedule, and since the first rule of any successful project is to obtain sufficient income and profits, the lack of cost calculation Finance may fail the project so the effects of any activity should be examined to see the overall returns of the project.
Market Survey:
The successful survey of the markets is one of the most dangerous things and it is very important and its purpose is to count the expected revenues of the project as a result of this survey personally, it can delegate the task to one of the competent external companies, the market survey includes the following points:
Assessment of targeted geographical areas
Study of population trends, demographic and economic structures, culture and appetite for purchases
Analyze competitors’ services to find out their strengths or weaknesses and monitor their pricing, product lines and promotions and customer satisfaction.
Provide scalability by assessing customer response to new services
Select a schedule
The feasibility study can include the stages of the project, which may take a long time, if the result of the initial analysis shows the quality of the project, it means the need for more detailed study on it, which requires the completion of tasks in a specific time in order to avoid procrastination and delays, so you can make a project schedule with a visual chart that includes tasks The project is scheduled in order of a specific day and date.
Review and analyze data
The feasibility study of Petro should be reviewed and the results discussed at the end of the project study, as the essence of this step lies in thinking before conclusion, the possible risks and market variables are reassessed, and the project conditions and economic situation are reviewed before implementation.