Risk analysis of a project is done in
A. System Analysis phase
B. Feasibility Study
C. Implementation phase
D. Maintenance phase
Answer: Feasibility Study
Feasibility analysis comes in the form of a feasibility study, an in-depth examination of a business’s chances for success. It provides a roadmap to determine the viability of an idea or project.
A feasibility study allows a project manager to determine whether or not it should move forward with their proposed business solution. If a project is feasible, the next step would be to develop and implement a business plan.
Some key components of feasibility analysis are:
- Cost-benefit analysis – This determines if the benefits outweigh the costs.
- Market research – This evaluates how viable your product or service is in your target market.
- Technical evaluation – This examines if you have the resources and skills to produce your product or service.
- Financial analysis – This assesses whether you have enough capital to complete your project.