CHAPTER ONE
1.1 INTRODUCTION
One of the major constraints to effective project implementation especially in developing economics is lack of adequate knowledge of how to package it to appeal to the public. Project packaging constitutes a vital aspect of investment decision process. Project packaging should help to decide the practicability and worthiness to embark upon a project. A project feasibility study sometimes referred to as project study is an investigation, which ascertains the viability and worth wideness of an exiting, or a new undertaking. It is oen used for securing financial assistance for project execution. It guides promoters, business managers, financial executives and other interested groups in determining the actions they must take on a project in order to bring about its successful execution. For a feasibility study to be practicable, it must involve problem identification and definition. The collection of data collected, which are relevant to all aspect of the project, the analysis of data so collected and formulation of recommendations based on the analysis.
An entrepreneur who is embarking on a project must have a long-range outlook on the intended business investment examine the alternative uses of capital and account for inflation in future values of cash flows, and forecast future events and financial requirement and carry out sensitive and risk analysis. These are highly sensitive areas that require expertise skills. Project analysis was two dimensions. Firstly, the assessment of the probability of its successful implementation and also the appraisal of the contribution of the project to the specific objectives. These two aspects are referred to as the feasibility and viability appraisal. This study provides an analysis and illustrations of the principle of feasibility and viability of a project and highlights the essence of the subject matter. It also relates the accountant’s contribution in order to make a project worthwhile.
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