To assess the feasibility of a project is a major milestone in the project planning phase. In lot of cases, these findings serve as the decision point to execute a project. Therefore, a Feasibility Study covers a wide range of topics presented in five areas:
A Feasibility study will analyze these five areas. It will uncover the strength and weaknesses of a proposed project. It will show the opportunities and weaknesses, define the required resources and the prospects for success. It will judge on feasibility on economic terms.
Within the Feasibility Study, the project has to be outlined technically. This includes preparation of conceptual or even basic design.
One aspect of major importance in the mineral industry are the raw materials. For developing the project, data about raw materials like quantity, quality, and availability have to be available. Please see also Raw Material Study on our homepage.
Economic feasibility covers all aspects regarding the costs and the gained value.
Understanding of the product and the market for the product (Market Study) he operational costs of the projected plant, etc. are factors to be implemented in a model to determine the economic feasibility of the project. All this has to be seen in conjunction with company goals like e.g. margins.
The project must follow the legal requirements. These need to be analyzed and considered, e.g. for technical project development.
Within this area, the impact of the project on the operation of the organization, e.g. the company is analyzed. It covers requirements regarding staff, training, etc.
Within this area, the project is analyzed regarding time frames. For example, if a project is feasible only if finalized within a certain time frame, this would be assessed.