Feasibility vs. Viability: What's the Difference?
Edited by Huma Saeed || By Sawaira Riaz || Updated on November 13, 2023
Feasibility assesses if something can be done, technically and legally. Viability examines if it should be done, based on long-term sustainability and profitability.
Key Differences
Feasibility refers to the practicality and possibility of a proposed project or system; it asks if the project can realistically be accomplished. Viability, on the other hand, goes a step further to analyze if the project will sustain itself in the long term, considering factors like profitability and market acceptance.
Sawaira Riaz
Nov 12, 2023
Feasibility studies often focus on the essential requirements of a project, including the availability of materials, technology, and human resources. In contrast, Viability studies are more concerned with the ongoing operational costs and the projected return on investment, ensuring the endeavor can maintain or grow its value over time.
Sawaira Riaz
Nov 12, 2023
Feasibility encompasses the investigation of legal and technical constraints facing a project, determining whether the project is achievable within these frameworks. Viability deals more with economic constraints, examining whether the project can meet its financial objectives and survive in the market.
Sawaira Riaz
Nov 12, 2023
Feasibility can also be seen as a snapshot at the starting line, clarifying whether a project is possible at the outset. Viability is the long race, contemplating the endurance of an initiative, considering market trends, competition, and financial projections.
Sawaira Riaz
Nov 12, 2023
Feasibility addresses the question, "Can we do it?" focusing on the practical aspects and immediate challenges of a project. Viability addresses the question, "Should we do it?" focusing on whether the project makes sense in the larger context and over an extended period.
Sara Rehman
Nov 12, 2023
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Comparison Chart
Study Criteria
Resources, technology, legality
Profitability, market trends, competition
Sawaira Riaz
Nov 12, 2023
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Feasibility and Viability Definitions
Feasibility
Feasibility concerns whether something is possible within current constraints;
The Feasibility of this technology in rural areas is questionable.
Sara Rehman
Oct 20, 2023
Viability
Viability is being competitive over the long term;
The Viability of our app is linked to its uniqueness in the market.
Sawaira Riaz
Oct 20, 2023
Feasibility
Feasibility involves considering legal permissibility;
The Feasibility of the construction project depends on zoning laws.
Sawaira Riaz
Oct 20, 2023
Viability
Viability means something can function economically;
The Viability of the free model is subject to advertisement revenue.
Sara Rehman
Oct 20, 2023
Feasibility
Feasibility requires the necessary technology be available;
We're exploring the Feasibility of integrating AI into our current system.
Sawaira Riaz
Oct 20, 2023
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Viability
Viability is the ability to maintain or grow over time;
The Viability of our magazine relies on increasing subscription rates.
Sawaira Riaz
Oct 20, 2023
Feasibility
Feasibility is contingent on the availability of necessary resources;
The festival's Feasibility relies heavily on volunteer availability.
Aimie Carlson
Oct 20, 2023
Viability
Viability involves the capacity to achieve long-term profits;
We have serious concerns about this product's Viability in a crowded market.
Aimie Carlson
Oct 20, 2023
Feasibility
Feasibility is whether something can be done practically;
We're assessing the Feasibility of remote work for all employees.
Aimie Carlson
Oct 20, 2023
Viability
Viability encompasses future potential and survivability;
Despite initial success, we must consider the Viability of such success continuing.
Sawaira Riaz
Oct 20, 2023
Feasibility
Capable of being accomplished or brought about; possible
A feasible plan.
Sawaira Riaz
Oct 14, 2023
Viability
Capable of success or continuing effectiveness; practicable
A viable plan.
A viable national economy.
Sawaira Riaz
Oct 14, 2023
Feasibility
Capable of being used or dealt with successfully
Feasible new sources of energy.
Sawaira Riaz
Oct 14, 2023
Viability
Capable of living, developing, or germinating under favorable conditions
Viable spores.
Sawaira Riaz
Oct 14, 2023
Feasibility
The quality of being feasible; practicability; also, that which is feasible; as, before we adopt a plan, let us consider its feasibility.
Men often swallow falsities for truths, dubiosities for certainties, possibilities for feasibilities.
Sawaira Riaz
Oct 14, 2023
Viability
The capacity of living, or being distributed, over wide geographical limits; as, the viability of a species.
Sawaira Riaz
Oct 14, 2023
FAQs
Is a Feasibility study important?
Yes, it helps determine if a project is technically and legally possible before resources are committed.
Sawaira Riaz
Nov 12, 2023
How does market impact Viability?
Market trends, competition, and demand significantly impact a project's profitability and, hence, its Viability.
Sawaira Riaz
Nov 12, 2023
Can a project be feasible but not viable?
Yes, a project might be possible to initiate (Feasible) but may not be sustainable or profitable in the long term (Viable).
Sawaira Riaz
Nov 12, 2023
Why consider Viability?
To ensure the project can sustain itself, meet market demands, and be profitable over time.
Sara Rehman
Nov 12, 2023
What's a Viability study?
An analysis to determine if a business idea can sustain itself and be profitable in the long term.
Sawaira Riaz
Nov 12, 2023
Can Feasibility change over time?
Yes, as technology, laws, and resources evolve, the Feasibility of a project can change.
Sawaira Riaz
Nov 12, 2023
Do startups need Viability analysis?
Absolutely, to understand if their business model can survive and thrive in competitive markets.
Janet White
Nov 12, 2023
How detailed should a Feasibility report be?
It should cover all essential aspects, including resources, technology, and legality, with enough detail to inform a decision.
Janet White
Nov 12, 2023
Are Feasibility and Viability the same?
No, Feasibility assesses if something is possible, while Viability evaluates its long-term sustainability and profitability.
Sawaira Riaz
Nov 12, 2023
Who conducts Feasibility studies?
Experts with technical and legal knowledge relevant to the project, often third-party consultants.
Harlon Moss
Nov 12, 2023
How do investors use Viability studies?
To decide whether a business or project is worth investing in based on its long-term profitability.
Sawaira Riaz
Nov 12, 2023
What factors affect Feasibility?
Resource availability, technical constraints, and legal regulations primarily affect Feasibility.
Harlon Moss
Nov 12, 2023
Can Viability affect a brand's reputation?
Yes, a product's success or failure in the market can impact consumer perception and brand reputation.
Harlon Moss
Nov 12, 2023
Is Viability only about financial success?
Primarily, but it also considers other factors like market acceptance and competitive endurance.
Aimie Carlson
Nov 12, 2023
Can Feasibility studies predict future obstacles?
They identify potential risks and bottlenecks at the project's outset, though not all future challenges.
Sawaira Riaz
Nov 12, 2023
When should Feasibility be assessed?
Before a project starts, to avoid investing in a project that's not possible technically or legally.
Aimie Carlson
Nov 12, 2023
What's a technical Feasibility study?
It assesses whether the necessary technology and expertise are available to complete a project.
Harlon Moss
Nov 12, 2023
What if a Viability study results are negative?
It suggests re-evaluating the business model, strategy, or potentially abandoning the project to avoid future losses.
Aimie Carlson
Nov 12, 2023
Are Feasibility studies expensive?
They can be, depending on the project's complexity, but they're valuable for informed decision-making.
Sara Rehman
Nov 12, 2023
Does Viability consider environmental impact?
It should, as environmental sustainability can influence a project's long-term success and social acceptance.
Janet White
Nov 12, 2023
About Author
Written by
Sawaira RiazSawaira is a dedicated content editor at difference.wiki, where she meticulously refines articles to ensure clarity and accuracy. With a keen eye for detail, she upholds the site's commitment to delivering insightful and precise content.
Edited by
Huma SaeedHuma is a renowned researcher acclaimed for her innovative work in Difference Wiki. Her dedication has led to key breakthroughs, establishing her prominence in academia. Her contributions continually inspire and guide her field.
