Dairy is one of the foods that protects a person from diseases because it contains many nutrients, vitamins and minerals that the human body needs, as it is one of the sources of a complete balanced healthy food. The research aimed to determine the extent of the feasibility of investment in the field of dairy production, and the most important factors affecting milk production in Qena Governorate. The research depended on both descriptive and quantitative economic analysis method, and on some statistical methods and models, which are represented in the analysis of multiple regression and stepwise regression. The research results show the following : First: The results of the financial evaluation of the project As for the first scale of cows, it was revealed through the efficiency of the investment, using the discount rates of 15% and 17%, where the internal rate of return was about 24%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached about 22.5%, 19.7% and 18.02%, respectively. As for the buffalo, the internal rate of return was about 38.8%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached 36.7%, 32.6% and 30.7%, respectively. As for the second scale of cows, the internal rate of return was approximately 29.9%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached 28.3%, 24.9% and 23.2%, respectively. As for the buffalo, the internal rate of return was about 46.02%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached 43.5%, 38.7% and 36.5%, respectively. 13 Fayoum J. Agric. Res. & Dev., Vol. 34, No.2 July, 2020 For the third scale of cows, the internal rate of return is about 37.4%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached 35.5%, 31.6% and 29.7%, respectively. As for the buffalo, it was revealed through investment efficiency that the internal rate of return was about 54.4%. By conducting the sensitivity analysis, the project was able to withstand unfavorable changes, as the internal rate of return reached 51.6%, 46.1% and 43.3%, respectively. Second: With regard to dairy production in cows and buffalo farms, according to the different possession categories: The production of milk in farms of cows and buffalo according to the different categories possessory we found that. 1- According to the first scale of cows, the factors affecting milk production are the length of the milk season (s2) and the amount of green fodder (s3). For the types of buffalo, the effective factors in milk production are the amount of green fodder (s3), the amount of dry feed (s4), the amount of concentrated feeding (s5) and human work (s6). 2-According to the second scale for the types of cow, the effective factors on the change in animal weight are the amount of green feed (s3) and the amount of dry feed (s4). and for the types of buffalo, The factors affecting milk production are the quantity of dry fodder, (s4) and the amount of concentrated feed (s5). 3- For the third scale of cows, the factors affecting milk production are the amount of green fodder (s3) and the amount of dry feed (s4). As for the buffalo, he found that the factors affecting milk production are the length of the milk season (s2) and the human work (s6)