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A feasibility analysis is a study that assesses the viability of a project or business idea. It helps determine if a project is practical and worth pursuing. It evaluates a project's practicality such as ensuring a project is legally, technically feasible, and economically justifiable. Examining alternatives is an exploratory phase of a feasibility study that involves looking at different ways to achieve the study's objectives. It helps to reduce costs by narrowing down the options, identifying a valid reason to undertake the project, enhances the success rate by evaluating multiple parameters
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