Feasibility Studies (Project Feasibility Analysis)
A feasibility study is an early, high-level assessment conducted during the project initiation phase to determine whether a proposed project, solution, or opportunity is practicable, desirable, and worthwhile to pursue . It serves as a critical risk-mitigation tool, helping organizations avoid over-committing resources before viability has been established and assisting with capital raising . A core distinction is that a feasibility study answers "Can we do this?" (whether the project is executable), whereas a business case addresses "Should we do this?" (whether the investment is justified) . Feasibility studies are commonly structured around several key dimensions, often summarized by the TELOS framework: Technical (does the necessary technology exist and is it practical?), Economic (is it financially viable through cost-benefit analysis?), Legal (can it be done within applicable obligations?), Operational (will the organization and its end-users accept and support it?), and Schedule (can it be achieved in the required timeframe?) . Formal feasibility analysis may proceed through a three-phase approach: order of magnitude, pre-feasibility, and definitive study . The output is a feasibility report that summarizes evidence, ranks options, and provides a clear recommendation—typically one of three outcomes: feasible (proceed), feasible but with significant risk, or unlikely to be feasible (recommend not proceeding) . A well-conducted feasibility study does not aim to sell a proposal; its value lies in evidence-based findings that point to the best way forward .
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- October 24, 2026
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