Which factors are crucial for conducting a project's feasibility study?

Conducting a project's feasibility study is a critical step in the planning process, as it assesses whether a project is viable in practical terms. The correct choice focuses on fundamental elements that determine the overall success and sustainability of the project.

Economic viability is essential because it evaluates whether the financial aspects of the project can support its initiation and continued operation. Understanding site conditions is crucial as they affect design, construction costs, and overall functionality; factors such as topography, soil quality, and existing infrastructure are key considerations. Market demand assesses if there is sufficient need or desire for the project being proposed, which directly impacts its potential for success. Lastly, regulatory approvals ensure compliance with local laws, zoning regulations, and safety standards, which are necessary for legal and safe project execution.

Together, these factors provide a comprehensive outlook on the feasibility of a project, helping stakeholders make informed decisions. The other options, while they may have relevance in specific contexts, do not encompass the critical components necessary for a thorough feasibility study.