Feasibility Study and Reports
Sunday,18th November, 2018. 6:34:42pm

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Feasibility Study and Reports

The services provided by our business advisory services practice are structured to help clients successfully navigate the rapidly changing landscape of opportunities that proliferate in the emerging business world.

Our suite of advisory services is focused on delivering tangible, measurable value, and is organised along four critical service dimensions:

1. Strategy
2. People
3. Business Process
4. Technology Advisory

The Business Plan provides expert advice on how to take a business idea and turn it into a polished business.

Business owners and corporate startups need to develop their business plan day one. Ask any successful CEO and they will tell you that preparing and following their business plan was the key to their success.

Of course, any generic business plan or template will not help you succeed - To gain the required level of confidence; a new company must demonstrate a sound business model, a thorough knowledge of the corporate market, professional financial projections and a coherent marketing strategy. The management team should be able to show that all possible challenges have been planned for, and solutions mapped out in advance!

Feasibility reports describe one or more design solutions to a specific problem and determine if the proposed solution is practical and feasible. Preferably, more than one solution is offered, in which case our report compares the various designs and determines which option is best.

A feasibility study emphasizes the investigation and comparison of alternative solutions.

Feasibility reports are crucial for decision making and product development in almost any technical organization. They document an engineer's thinking through a solution to a problem, a description of the solution, and the reasons why that solution should be implemented. Managers need accurate and comprehensive feasibility and design reports to decide where to commit scarce resources. In addition, an accurate and comprehensive design report helps in developing other documents, such as formal proposals, specifications, and work plans.

Our feasibility reports contain the following elements:
- An abstract that concludes with a short summary of the recommended design.
- An introduction that presents the context of the situation and then gives a clear and concise statement of the problem to solved.
- A list of design criteria, in order of importance with the most important first. Clear and concise design criteria are crucial to any design process. They establish the standards by which it possible to determine whether a specific design is successful and to decide intelligently among competing designs.
- Descriptions of possible implementations. A design report will often describe only one possible implementation. A feasibility report will often present several possible designs.
- A recommendation with a comparison of alternatives. If our report does not present any alternative designs, it should still explain the reasons for specific design choices with respect to the design criteria. Our feasibility reports usually present one (or sometimes two) recommendations and argue for the recommended solution by showing how it best meets the stated criteria. Graphic devices, such as a table listing how each implementation meets each design criterion, are very effective in summarizing the reasons for the specific design recommendation.
- Elaboration of design. Design reports and feasibility reports often then give a more detailed description of the recommended design.
- Conclusion with recommendations for further actions and a listing of issues that must be resolved before the design can be implemented.

Membership

OLAJIDE AND ASSOCIATES is a member of BNI and a registered member of The Institute of Chartered Accountants of Nigeria and Chartered Institute Of Taxation Of Nigeria

 

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