What is a feasibility study?

A feasibility study is fundamentally an assessment of a project's practicality and the resources necessary to implement it successfully. The main goal of a feasibility study is to evaluate whether a proposed project is viable and worth pursuing. This involves analyzing various factors such as technical, economic, legal, and operational aspects.

By examining these elements, a feasibility study determines if the project can be completed as intended and if it will meet the objectives set forth by stakeholders. This assessment includes looking at potential constraints, such as budget limitations, timeframes, and resource availability, which are critical in deciding whether to proceed with the project or consider alternative strategies.

In contrast to the other options, which focus on different dimensions of project management, the feasibility study specifically hones in on whether the project is achievable given its various parameters, making option B the most accurate representation of what a feasibility study entails.