Engineering Feasibility Studies

Engineering feasibility studies, is a systematic analysis and evaluation of the technical, economic, legal, operational, and scheduling aspects of a proposed engineering project. It is conducted in the early stages of a project to assess its feasibility and determine whether it is technically and economically viable to proceed further. The study aims to provide decision-makers with the necessary information to make informed choices about the project's viability and potential risks.

Some of the key components typically included in an engineering feasibility study:

Technical Feasibility: This aspect evaluates the technical requirements and capabilities of the project. It examines factors such as the availability of technology, materials, equipment, and expertise needed to execute the project successfully. It assesses whether the proposed project can be implemented and whether there are any technical limitations or challenges to overcome.

Risk Assessment: Feasibility studies include a risk assessment FMEA / DFMEA, which identifies and evaluates potential risks and uncertainties associated with the project. It helps stakeholders understand the potential challenges, uncertainties, and possible mitigation strategies to minimize risks.

Based on the findings of the feasibility study, project stakeholders can make informed decisions about whether to proceed with the project, modify the scope, allocate resources, or abandon the project altogether. The feasibility study provides valuable insights into the project's viability, potential challenges, and opportunities, helping to guide decision-making and minimize risks.