A feasibility study evaluates the viability of a new business idea or expansion by examining its economic, financial, technical, legal, market and management aspects. It helps determine if an idea can generate adequate profits and cash flow while withstanding risks. The objectives are to answer if the project is feasible and should proceed. A feasibility study report includes defining the problem/opportunity, project description, expected benefits, resource needs and alternatives. It provides valuable information for deciding whether to move forward with a project idea.