Business Analysis Certification Practice Test 2025 - Free Business Analyst Practice Questions and Study Guide

A key characteristic of a feasibility analysis is its focus on evaluating the chances of project success based on defined criteria. This process involves assessing various aspects of a proposed project, including technical, economic, legal, operational, and scheduling factors. By examining these dimensions, the feasibility analysis helps to determine whether the project is viable and worth pursuing before any significant resources are committed.

This systematic evaluation is critical for project stakeholders as it provides a clear framework for decision-making. It allows teams to identify potential obstacles and assess whether the benefits of the project outweigh any associated risks or costs. In contrast, concentrating solely on financial forecasting restricts the analysis to one dimension of feasibility, which does not provide a comprehensive view of the project's viability. Establishing team roles and conducting the analysis after implementation are also not characteristic of a feasibility analysis, as these actions either occur later in the project lifecycle or are part of project management rather than feasibility assessment.