What are the three broad headings under which areas of feasibility assessment fall?

The three broad headings under which areas of feasibility assessment fall are Business, Technical, and Financial. This classification is crucial for evaluating whether a proposed project or initiative is viable before significant resources are committed.

Business feasibility assesses whether the project aligns with the overall objectives of the organization, examines market demand, and evaluates the potential benefits against operational capabilities. This area ensures that the undertaking supports the strategic goals of the business.

Technical feasibility focuses on the technological aspects, determining if the necessary technology and resources are available, and whether the organization has the capacity to implement and support the project. It addresses questions regarding the reliability and scalability of the technology proposed, which is essential for ensuring that the project can be successfully executed.

Financial feasibility looks at the economic aspects of the project, including cost analysis, return on investment (ROI), and funding sources. This evaluation is critical to understanding the financial implications of the project, enabling stakeholders to make informed decisions about the allocation of financial resources.

In contrast, options such as Social, Economic, Environmental and Strategic, Operational, Tactical do not comprehensively cover the key dimensions needed for a feasibility assessment in a business context. While these areas may hold relevance in certain evaluations, they do not encapsulate the core components required to assess feasibility effectively.