- A feasibility study is the estimation or computation of the practicality of a proposed design (corporate or other). Organizations, which operate in corporate and social sectors, before the implementation of a design or proposed plan, thoroughly and comprehensively study plan and use various instruments to learn how implementable a plan or design is. Some evolved organizations have devised highly sophisticated and potent instruments, which not only provide information regarding the practicality of plan but also provide information regarding the duration for which a design is valid. This entire exercise relies on the evidence/data and the instruments being used for the feasibility study.
For organizations, especially those who are functioning in a contemporary corporate system, the feasibility study is the must, as the results of the study would directly impact strategic and tactical decisions regarding a proposed design. Instruments used, for this exercise, only discern various factors, which affect proposed design in positive and adverse manner. These factors could be financial/economic, technological, legal and scheduling. For instance, an organization, which intends to expand through the subsidiary, would methodically scrutinize proposed plan (feasibility study), before implementing it. Based on the feasibility report, the organization would take a decision.
- As per the abstract understanding, proposals are designs, in documentary form, which are produced with the purpose to sell the idea or convince client regarding a product, service or decision regarding the expansion/contraction of operations. Proposals are various natures; however, all of them serve a single purpose, which is to convince client regarding an idea. Therefore, these proposals have to be comprehensive, methodical, logical and must be based on evidence.
The study on this subject reveals that proposals could be various natures and they could be meant for different clients, which could exist within or outside an organization. Also, the format of the proposal could be simple or complex; this depends on upon the objective of purpose.
As we know that proposals are usually in documentary/writer form; therefore, the successful proposal requires comprehensible language that needs no deciphering. The proposal must be comprehensive and must isolate all factors that affect a design. In a logical manner, these factors must be discussed, and conclusions should be drawn. Furthermore, the proposal must be evidence-based, which means that data should be gathered, scrutinized, sorted to support arguments and also draw conclusions. An evidence-based proposal is widely accepted and do not require additional elaboration.