دراسة الجدوى الاقتصادية و دورها في إنجاح المشروعات الاستثمارية (دراسة حالة شركة كودال لإنتاج الدواجن) (2006-2010)

Abstract

Investment faces several economical, political, social, and environmental problems beside the lack of infrastructure and the qualified human resources. Therefore, this research aims to prove that any successful investment project must be baized on a provisional and final economical feasibility study that covers all investment aspects and determines the projects viability. The author suggested several hypotheses and intensively worked to examine them. They are summarized as follows: 1. The comprehensive economical feasibility study largely determines the success of the investment projects. 2. The decision maker must rely on a proper comprehensive feasibility study to decide whether to take or to refuse the investment project. Moreover, the feasibility study enables the decision maker to evaluate all project alternatives and to choose the most appropriate one. 3. The usage of the economical evaluation criteria, and then the accurate interpretation of the financial indices enhance the feasibility study and anticipate the success or the failure of the project. 4. The government of Sudan adopted many measures to support and encourage the private investment projects and this leads to development of the overall national economy. The research studied the case of “Kudal Project for The Poultry Production” and came to the following results: 1. The comprehensive feasibility study, that achieved under the supervision of specialized experts leads to the success of the investment project. 2. The decision of choosing and implementing of this project was right because it has been baized on a comprehensive economical feasibility study that covered many different alternatives and then chose the most appropriate one. 3. After applying of the economical evaluation tools and criteria, it has been proved that the project is economically feasible but only in the case of the political and social stability in the country. 4. The government of the Sudan did not fulfil many of its promises concerning the support of the project, which negatively affected the project outcomes. 5. The time overrun in the implementing of the project has delayed the project revenues. Revenues are also negatively impacted by the fluctuations of the foreign exchange rates, inflation, market instability, and the unfair competition with the governmental investment projects. Among others, the research adopted the following recommendations: 1. Private investors and decision makers are recommended to achieve provisional feasibility study as an initial step, and then to achieve the final one. This process enables investors to avoid the probable losses. 2. All of the study steps and phases have to be carefully implemented. Furthermore, financial and economical evaluation tools should be used to determine the project viability in the normal cases and under different scenarios of political and economical risks. 3. The time is a critical factor to the success or failure of the project, and therefore it is recommended to study it carefully. 4. It is very important to conduct a sensitivity analysis in order to test the criticality of the project profitability to each variable.

Investment faces several economical, political, social, and environmental problems beside the lack of infrastructure and the qualified human resources. Therefore, this research aims to prove that any successful investment project must be baized on a provisional and final economical feasibility study that covers all investment aspects and determines the projects viability. The author suggested several hypotheses and intensively worked to examine them. They are summarized as follows: 1. The comprehensive economical feasibility study largely determines the success of the investment projects. 2. The decision maker must rely on a proper comprehensive feasibility study to decide whether to take or to refuse the investment project. Moreover, the feasibility study enables the decision maker to evaluate all project alternatives and to choose the most appropriate one. 3. The usage of the economical evaluation criteria, and then the accurate interpretation of the financial indices enhance the feasibility study and anticipate the success or the failure of the project. 4. The government of Sudan adopted many measures to support and encourage the private investment projects and this leads to development of the overall national economy. The research studied the case of “Kudal Project for The Poultry Production” and came to the following results: 1. The comprehensive feasibility study, that achieved under the supervision of specialized experts leads to the success of the investment project. 2. The decision of choosing and implementing of this project was right because it has been baized on a comprehensive economical feasibility study that covered many different alternatives and then chose the most appropriate one. 3. After applying of the economical evaluation tools and criteria, it has been proved that the project is economically feasible but only in the case of the political and social stability in the country. 4. The government of the Sudan did not fulfil many of its promises concerning the support of the project, which negatively affected the project outcomes. 5. The time overrun in the implementing of the project has delayed the project revenues. Revenues are also negatively impacted by the fluctuations of the foreign exchange rates, inflation, market instability, and the unfair competition with the governmental investment projects. Among others, the research adopted the following recommendations: 1. Private investors and decision makers are recommended to achieve provisional feasibility study as an initial step, and then to achieve the final one. This process enables investors to avoid the probable losses. 2. All of the study steps and phases have to be carefully implemented. Furthermore, financial and economical evaluation tools should be used to determine the project viability in the normal cases and under different scenarios of political and economical risks. 3. The time is a critical factor to the success or failure of the project, and therefore it is recommended to study it carefully. 4. It is very important to conduct a sensitivity analysis in order to test the criticality of the project profitability to each variable.