Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. A feasibility study is an important step in business development. It will help you understanding the concept of a feasibility analysis and what it means for business development. The elements to include in a feasibility study vary according to the type of business venture analyzed and the kind of market opportunities identified. The success of a feasibility study is based on the careful identification and assessment of all of the important issues for business success. Depending on the business project, additional items may also be important.