Feasibility Study

A feasibility study allows us to analyse how successful and practical a project is likely to be, looking at the 4 key aspects; economic, technical, operational and schedule feasibility.

The four aspects of a feasibility study:

• Economic Feasibility
  Looking at what the projects associated cost benefits & savings will be along with determining the timescales for an acceptable return on investment for the business.
• Technical Feasibility
  To assess the risks and solutions, so considers the size of the proposed facility, its location, pollution issues and capacity.
• Operational Feasibility
  Reviewing the control measure of how well the proposed solution or system resolves any problems along with taking advantage of improvement opportunities determined during the definition phase.
• Schedule Feasibility
  Validation of the estimation on timelines and whether the project has enough resources to deliver the project to the desired plan.

What are the advantages to carrying out a feasibility study?

• Cost effective approach
  Spending a small amount of capital at the Front End of a project, to see whether the project is viable prior to further project development & execution.