Feasibility study

During the pre-project period, we would do a preliminary investigation focusing on analysis of
business opportunity, business process and technical process' requirement. A broad examination of a number of practicable solutions indicating which is the most cost-effective is also shown. The Report produced at the end of a Feasibility Study provides the basis on which a management decision can be taken on whether or not to initiate a Project and, if so, it provides a definition of that project.

A Feasibility study also provides the essential basis for control of a project, i.e. an outline specification of a Project in terms of a definition of its end-product, and what that end-product is expected to achieve, how much it will cost and how long it will take.