Feasibility Study

Performing a feasibility study after conceptual definition is crucial because it tests whether the initial idea, freshly outlined with goals and scope, can actually work in the real world before committing significant resources. This step evaluates technical viability (can it be built?), financial practicality (is it worth the cost?), and operational fit (does it align with constraints like regulations or timelines?). For example, after envisioning a new facility, a feasibility study might reveal that zoning laws or budget limits make it unworkable, saving wasted effort. By analyzing risks, alternatives, and benefits early, we refine the concept, make informed go/no-go decisions, and set a realistic foundation for success, avoiding costly pivots later.