Feasibility study must help project elaborator to evaluate if project is justifies and well prepared. In order to do that the feasibility study must provide answers to following questions:
• Does planned development provide socio-economic growth?
• Is development effectively achievable?
• Does the development provide economic profit?
Feasibility study if often needed as a supplementary document to financing applications connected to public and third sector investment plans. Feasibility study consist mainly of:
• Project goals and activity model
• Evaluation of economic profitability
• Socio-economic impact
• Risk analysis
Based on the specifics of the project the role of a consultant can vary. Mainly it consist of overall coordination, preparation and moderating working group meetings and brain-storming meetings, communication among partners, gathering additional information and its analysis, preparation of feasibility study document, preparation of financial prognosis any other agreed upon tasks.