ANALYSIS OF IMPACT FEASIBILITY/VIABILITY STUDY ON CAPITAL PROJECT DEVELOPMENT IN NIGERIA

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ANALYSIS OF IMPACT FEASIBILITY/VIABILITY STUDY ON CAPITAL PROJECT DEVELOPMENT IN NIGERIA

ABSTRACT

The business of embarking investment  involves risk and as such, it requires systematic planning. The whole idea of feasibility studies revolve around conscious efforts at business planning, hence a feasibility study is a comprehensive and rigorous business planning process . Many investors especially in developing countries embark on industrial projects without pre-investment studies to across the viability of the venture. Even where investment decisions were preceded by pre-investment studies, the standard and depth of such studies are often not adequate The problem of improper identification of business opportunity resulting in wrong choice of project implied with wrong timing has led to many project failures The objective of the study is to highlight the importance of feasibility studies in the realization of project objectives.          The survey research method using questionnaires and hypothesis was adopted in eliciting data from the respondents for this study. The major findings are: Financial commitment to a project has something to do with the success or otherwise of the project. Feasibility study do assist in determining the viability of a project feasibility study is an excellent told in achieving project objectives. A project will not achieve optimal financial success unless it is properly,  efficiently and effectively planned and operated with respect to its technical, social, commercial and financial requirement. In meeting the above requirement, it is expected of an entrepreneur to endavour to carryout a feasibility of any project to be embarked upon so as to determine its viability.

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