Feasibility Studies
Feasibility Studies are highly focused investigations of a proposed concept or design. They are designed to produce critical business viability information about a project while committing only a fraction of the resources that would be required for a “full-blown” design effort. They can also be used to explore a proposed design project and quickly uncover any potential problems that could threaten the future success of a project.
Feasibility Studies can also provide an unbiased second opinion from someone with no history on a given project. Being external to your company, Tejas can focus on the design goals and market environment without being influenced by internal forces that might sway company personnel.
The elements of a typical Feasibility Study are the following:
- Preliminary design work
- Detailed estimate of the anticipated engineering work
- Preliminary formulation of the product specification
- Analysis of the market, clients, margins, etc.
- Development of a business plan
- Creation of the preliminary financial projections