Feasibility vs. Viability: Know the Difference
By Shumaila Saeed || Published on January 10, 2024
Feasibility is about whether something can be done, focusing on resources and capabilities. Viability is about whether it should be done, considering long-term sustainability and success.
Key Differences
Feasibility refers to the practicality and possibility of a project or idea. It assesses whether the necessary resources, technology, and expertise are available to complete it. Viability, on the other hand, evaluates whether this project or idea is likely to succeed in the long term, considering factors like market demand and profitability. Feasibility is a prerequisite to viability, but something feasible might not always be viable.
Shumaila Saeed
Jan 10, 2024
When examining feasibility, the focus is on the 'how' of a project. It delves into logistical aspects like availability of materials, legal permissions, or necessary skills. Viability, in contrast, looks at the 'why'. It seeks to understand if the project will deliver value, be profitable, or meet strategic goals. A project might be feasible but not viable if it does not promise reasonable returns or alignment with strategic objectives.
Shumaila Saeed
Jan 10, 2024
Feasibility often involves technical and operational assessments. It asks if a project can be done within the existing constraints of time, budget, and technology. Viability, conversely, is more about financial and strategic assessments. It questions if the project will be beneficial in terms of revenue, market share, or brand enhancement. A project can be technically feasible but may not be viable due to poor market conditions.
Shumaila Saeed
Jan 10, 2024
In the context of startups or new ventures, feasibility is about whether the basic idea can be converted into a product or service. This includes technical feasibility, operational feasibility, and legal feasibility. Viability, in this scenario, is about the business model's effectiveness, market acceptance, and profitability potential. A feasible idea can fail to be viable if there is insufficient market interest.
Shumaila Saeed
Jan 10, 2024
In summary, feasibility is a more immediate, practical consideration, while viability has a forward-looking, strategic focus. Feasibility checks if the wheels can be set in motion, whereas viability ensures that the journey is worth taking. While feasibility is the first hurdle, viability is the ultimate measure of a project's or idea's potential for success.
Shumaila Saeed
Jan 10, 2024
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Comparison Chart
Assessment
Resources, capabilities, technology
Market demand, profitability, strategic fit
Shumaila Saeed
Jan 10, 2024
Outcome
A project can be feasible but not necessarily viable
A viable project must inherently be feasible
Shumaila Saeed
Jan 10, 2024
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Feasibility and Viability Definitions
Feasibility
The practicality of a proposed plan or method.
We're conducting a study to assess the feasibility of building a bridge here.
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Viability
The capacity to survive or thrive in a particular environment.
The viability of these plants in colder climates is questionable.
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Feasibility
The likelihood of a project or idea being completed successfully.
The feasibility of the event hinges on securing enough volunteers.
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Viability
The ability of something to work successfully or effectively.
The viability of the business model is key to attracting investors.
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Feasibility
The measure of how easily something can be achieved or implemented.
The feasibility of the new software depends on current technology and expertise.
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Dec 20, 2023
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Viability
The ability to maintain or sustain oneself.
The viability of this nonprofit relies heavily on community support.
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Dec 20, 2023
Feasibility
The state of being possible or probable.
His plan for a self-sustaining farm is technically feasible.
Shumaila Saeed
Dec 20, 2023
Viability
The likelihood of achieving success in a particular endeavor.
The project's viability depends on continuous market demand.
Shumaila Saeed
Dec 20, 2023
Feasibility
The degree to which something can be easily or conveniently done.
The feasibility of remote working was proven during the pandemic.
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Dec 20, 2023
Viability
Suitability for practical use or application.
The viability of using solar power in this region is high due to abundant sunlight.
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Feasibility
Capable of being accomplished or brought about; possible
A feasible plan.
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Dec 13, 2023
Viability
Capable of success or continuing effectiveness; practicable
A viable plan.
A viable national economy.
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Dec 13, 2023
Feasibility
Capable of being used or dealt with successfully
Feasible new sources of energy.
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Dec 13, 2023
Viability
Capable of living, developing, or germinating under favorable conditions
Viable spores.
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Viability
Capable of living outside the uterus. Used of a fetus or newborn.
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Dec 13, 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.
Shumaila Saeed
Dec 13, 2023
Viability
The capacity of living, or being distributed, over wide geographical limits; as, the viability of a species.
Shumaila Saeed
Dec 13, 2023
Repeatedly Asked Queries
Can a project be feasible but not viable?
Yes, a project can be feasible in terms of resources and capability, but not viable if it lacks long-term sustainability or success potential.
Shumaila Saeed
Jan 10, 2024
What is the primary concern of viability?
Viability primarily concerns the long-term success and sustainability of a project or idea.
Shumaila Saeed
Jan 10, 2024
What does feasibility focus on?
Feasibility focuses on the practicality and possibility of implementing an idea or project.
Shumaila Saeed
Jan 10, 2024
How does feasibility relate to technology and resources?
Feasibility assesses whether the necessary technology and resources are available to implement a project.
Shumaila Saeed
Jan 10, 2024
Is feasibility always necessary for viability?
Yes, feasibility is a prerequisite for viability; a non-feasible project cannot be viable.
Shumaila Saeed
Jan 10, 2024
Is operational feasibility part of feasibility assessment?
Yes, operational feasibility, determining if operations can support the project, is a key part of feasibility.
Shumaila Saeed
Jan 10, 2024
Can feasibility be quantified?
Feasibility is often quantified through feasibility studies that analyze different practical aspects.
Shumaila Saeed
Jan 10, 2024
What does viability tell us about market demand?
Viability evaluates whether there is sufficient market demand and potential for profitability.
Shumaila Saeed
Jan 10, 2024
Can feasibility change over time?
Yes, feasibility can change based on resource availability, technology advancements, or other factors.
Shumaila Saeed
Jan 10, 2024
Does viability consider financial aspects?
Viability strongly considers financial aspects like profitability and revenue generation.
Shumaila Saeed
Jan 10, 2024
Can a project's feasibility impact its timeline?
Yes, a project's feasibility, especially in terms of resource and technology availability, can impact its implementation timeline.
Shumaila Saeed
Jan 10, 2024
How does market research relate to viability?
Market research is vital for understanding market demand and trends, which are crucial for assessing viability.
Shumaila Saeed
Jan 10, 2024
Does feasibility consider legal and regulatory aspects?
Feasibility includes assessing legal and regulatory compliance of a project.
Shumaila Saeed
Jan 10, 2024
How important is strategic fit in viability?
Strategic fit is crucial for viability, ensuring that the project aligns with long-term objectives.
Shumaila Saeed
Jan 10, 2024
Does viability consider environmental impact?
Viability often includes assessing the environmental impact and sustainability of a project.
Shumaila Saeed
Jan 10, 2024
Do feasibility studies include cost analysis?
Yes, cost analysis is an important part of feasibility studies to determine if the project is financially practical.
Shumaila Saeed
Jan 10, 2024
Are feasibility and viability equally important?
Both are crucial; feasibility determines if a project can start, while viability determines its likelihood of long-term success.
Shumaila Saeed
Jan 10, 2024
How does technological advancement impact viability?
Technological advancement can enhance viability by introducing more efficient or innovative solutions.
Shumaila Saeed
Jan 10, 2024
Is viability a factor in investment decisions?
Yes, investors often consider the viability of a project or business before investing.
Shumaila Saeed
Jan 10, 2024
Can a viable project become non-viable over time?
Yes, changes in market conditions, competition, or consumer preferences can affect a project's viability.
Shumaila Saeed
Jan 10, 2024
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About Author
Written by
Shumaila SaeedShumaila Saeed, an expert content creator with 6 years of experience, specializes in distilling complex topics into easily digestible comparisons, shining a light on the nuances that both inform and educate readers with clarity and accuracy.
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