Feasibility Analysis is a study that evaluates potential solutions to determine their viability in addressing business needs. It examines operational, technological, financial, and timeline feasibility before making recommendations.
Key Aspects of Feasibility Analysis
- Assesses Solution Viability – Determines if a project is realistic and achievable.
- Examines Multiple Factors – Includes cost, technology, operations, and time constraints.
- Supports Go/No-Go Decisions – Helps stakeholders decide whether to proceed.
- Reduces Risk & Uncertainty – Identifies potential challenges early in planning.
Types of Feasibility
| Type | Description |
|---|---|
| Operational Feasibility | Evaluates whether the solution aligns with business workflows. |
| Technical Feasibility | Assesses whether the required technology exists or is implementable. |
| Economic Feasibility | Examines cost-effectiveness and return on investment (ROI). |
| Schedule Feasibility | Determines if the project can be completed within required timelines. |
Example Scenarios
Software Development
A company conducts a technical feasibility study before integrating AI-driven analytics into its customer support system.
Construction Project
A real estate developer performs an economic feasibility analysis to assess whether a new residential complex is financially viable.
Marketing Strategy
A business evaluates operational feasibility before launching a global rebranding campaign across multiple markets.
Mermaid Diagram: Feasibility Analysis Process
graph LR; A["Identify Business Need"] --> B["Conduct Feasibility Study"] B --> C["Assess Technical, Operational, Economic & Schedule Feasibility"] C --> D{"Solution is Feasible?"} D -->|Yes| E["Proceed with Implementation"] D -->|No| F["Re-evaluate or Reject"]
Why Feasibility Analysis Matters
- Ensures Resource Efficiency – Prevents investment in unviable projects.
- Minimizes Risks – Identifies constraints before execution.
- Supports Strategic Decision-Making – Helps stakeholders make informed choices.
- Improves Project Success Rate – Ensures solutions align with business capabilities.
See also: Cost-Benefit Analysis (CBA), Risk Assessment, Stakeholder Analysis, Business Case Development.