The Application And Improvement Of Feasibility Study In Project Decision-making

Feasibility study is a comprehensive systematic analytical method providing the basis for the project decision-making. The aim of the feasibility study is to choose the best investment project, increase the investment benefits, and avoid decision-making mistakes. It plays an important role in completing projects successfully. But there is a huge gap between China and West Country, mainly in system, mechanism and specification.The paper firstly introduces the yield, application and development as well as the situation in our country. Then, the basic contents and theories are introduced in details which are used to point out the advantages and main problems of our nation's feasibility study. In China, there are still lots of problems such as emphasizing technology while ignoring economics, low investigation and formalization of process though a great progress has been achieved.And then, an example, that is the feasibility study of synthesized gesso project, is shown to research and discuss the issue of resource saving, economy circling, energy reducing, pollution preventing and so on. It is well-known that the disposal of great amount of gesso which is the byproduct of industry is becoming an emergent problem in our country even in the world-wide as the economy development and appeal for protection of environment. It is doomed to utilizing gesso scientifically to meet the request of sustainable development, environment protection, and energy saving policies. The development situation, market prospect, advantages, disadvantages, technologies and finance are analyzed and reviewed in the gesso industry. A good conclusion is drawn at last which can be used for helping decision-makers choose project effectively and efficiently.It's pointed out that our nation's investment decision-making and feasibility study has entered into a favorable development cycle. With the rapid development of the intellectual economy and the application of information technology and soft technology, the expert system (knowledge system) should be adopted to carry out the feasibility study. The law and specification of feasibility study should be constituted, well qualified project managers be fostered and trained in universities, mechanism of project management be optimized in our country according to the international practice. Only in this way can the nation's feasibility study level develop toward multi-direction, and improved to a higher level.