Feasibility vs Viability. Feasibility and viability are tools used in the investment appraisal of a project and its sustainability. Viability is the ability of a thing to maintain itself or get back its potentialities. Viability of a business is measured by means of the length of its survival. It is interesting to note that the sustainable profits the business had made over a period of time determine the viability of a business for that matter.
Difference Between Feasibility Study, Business Plan, And Business Proposal
The question is a simple one and deserves a clear snapshot that would give the writer a clear idea of what is the structural difference between a Business Plan and a Feasibility Study. It will be followed by a detailed analysis of the subject. I have done a research on the subject and found a very excellent source from Murdoch University that covers the points that should be included in the Feasibility Study. Based upon those points, I have done a mapping of what should be included in a Business Plan and what should be covered in a Feasibility Study. The Feasibility study coverage should include all the sections that are mapped in the table while the business plan coverage should have lesser coverage. So irrespective of whether you are planning to write a feasibility study of a car rental business or a piggery business feasibility study the key index points mentioned in the Tables below should be covered.
Difference between Feasibility Study and Business Plan
If you're considering starting a business, you'll need both a feasibility study and a business plan. Both documents should be written after conducting thorough research and critical thinking, and conveyed in formats that others can understand. That way, you can show both to people whose opinions you value as well as to those you hope will invest in your idea.
Here is the difference between a feasibility study report and a business plan? Can a feasibility study report be converted to a business plan? Find out. In the course of the article, we will be highlighting the major differences between business plan, business proposal and feasibility study.