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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.
Feasibility Study
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