Question

Examine the possible potentials by conducting a market feasibility study of implementing a new master degree program in a university.

Answer 1

Feasibility Study of introducing the program :

Masters in Fashion Technology in a university:

Project Description:
A two year masters program to be introduced in the university for the students who have a scope , talent and interest in fashion designing and related aspects will be the fashion learning integrated with the latest technology.
The program will be introduced to pursue higher education in the fashion industry to make it a life long career.
With the modern era. And increasing trend in fashion , style , and importance of being well dressed , this industry has gained a lot of attention importance and revenue. Thus the university aims at providing students who have knack at with the higher education forcskill development to compete at large and can build a wonderful future

Goals and Objectives

The masters program will aim at enhancing and improving the skills of students who want to pursue career in fashion industry and providing them a platform to get a qualification in it to realise their dreams.
To make an efficient infrastructure available for incorporating the program in the campus and providing all the necessary facilities and giving a due diligence to the program like the other courses of university.
The degree will not only focus on providing the existing education but will also provide a scope for the students to create their own style, experiment and innovate through offering latest technology and advanced methods for practically applying skills and their ideas.

Requirements and Timeline:
The degree will last for two complete years and will incorporate a minimum requirement of 75% of attendance to get the certificate at the end of the course with minimum 60% points.

Essentials:

The degree will be comprising of three main categories of subjects . Each category will have five minimum selection requirement with three as core and two as choice based optional.
The category chosen will depend upon the type of interest of student.
The courses can be :
Designing
makeover
Dressing
Hair styling
Fashion Marketing
Visual Designs etc.

Costs Involved:
The proposed idea of introducing fashion technology in the campus space is anticipated to involve the following costs:
Fixed cost :
Building
Infrastructure
Machinery
Equipments andTools
Variable Cost
Materials
fabric, trims and notions, labor and overhead.
Hiring personel and their compensation to staff
Maintenance and hygiene
Library for course related books
Cafetaria for that area
Event Management

Purpose and Benefits:
The main purpose of introducing the course is to give the students a direction to pursue the career in the field they are interested in.
It provides an option for students who could not keep up with the academics to outshine in some other great field and boost self confidence in them who feel worthless.
It will help students with great aspirations to fulfill their dreams and live a contended life.
It will provide an opportunity for students to work outside country confidently with higher education.

Benefits:
It will attract a large number of new students towards university with being first to introduce the course thus building reputation
It will build a title of being a diversified institution providing latest courses to pursue and efficient infrastructure.
It will bring great revenue to the university because of the growing trend of fashion business and scope of immense growth in this industry

Potential Reflected:
Through the above feasibility analysis it is clear that the course is feasible enough to be introduced bin the Campus for benefiting the students at the same time irrespective of the cost incurred in infrastructure proving profitable to the university in terms of bringing revenue through large number of applicants that will be attracted towards university and increase in reputation.

Risk Assessment :
The various risks e.g obsolete technology , old methods of learning , inefficient staff, insufficient equipments, etc are the various risks involved in implemented of the project.

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