Feasibility Report is study to determine the techno – commercial viability of an investment or business strategy, realisation of an idea into commercials. Conducting a Feasibility Report is one of the key activities within the project initiation phase. It aims to analyse and justify the project in terms of technical feasibility, business viability and cost-effectiveness. Study serves as a way to prove the project’s reasonability and justify the need for investment. Basically a Feasibility Report is to evaluate the project’s potential for commercial success.
Technical feasibility involves the evaluation of the Healthcare & Hospital project with respect to technical part of the project viz; Healthcare speciality disciplines, operation theatre, Healthcare ’s specialisation technology, constructability, source of doctors, specialist & other support trained stuff, availability of pharmacy & other consumables, local statutory norms, populations, transport connectivity, local demography, specialisation of existing Healthcare & Hospital etc. Whereas commercial feasibility is the assessment typically involves the evaluation of investment, financial cost, operating cost, local demand of Healthcare & Hospital infrastructure, taxation, ROI, break even analysis, time schedule & other commercial aspect of the Healthcare project.
Once the study is done, a Feasibility Report is evolved to summarize the activity and conclude if the particular Healthcare & Hospital infrastructure & investment is realistic and achievable. This report gives a brief description of the project, local Healthcare & Hospital statistics and other background information. It’s formal written document to signify whether the investors can proceed or not.
This helps investor & organizations to determine the viability of investment associated with local Healthcare & Hospital statistics before financial resources are allocated.
In the nutshell it a crisp report focussing on time, cost & local demand attributes for an organization to take an informed decision before starting a Healthcare & Hospital project.
Typical work incorporated under Feasibility Report is as below :
- Purpose of the Project Feasibility report
- Finalisation of Project Brief
- Collection of background information
- Define the evaluation criteria
- Evaluation & analysis of various Healthcare specialisation/ medical needs
- Define the list of assumption & key notifications
- Estimate of various commercial aspects
- Propose the outcome
- Brainstorming Session