A feasibility study is an analysis that takes all of a project’s relevant factors into account—including economic, technical, legal, and scheduling considerations—to ascertain the likelihood of completing the project successfully.
At Bethel, we perform feasibility studies on behalf of our clients to discern the pros and cons of undertaking a project before they invest a lot of time and money into it. Feasibility studies also can provide a company’s management with crucial information that could prevent the company from entering blindly into risky businesses or projects.
A feasibility study asks: “Is this project feasible? Do we have the people, tools, technology, and resources necessary for this project to succeed?”