Example of Feasibility Study

FEASIBILITY STUDY

A feasibility study is essentially a process for determining the viability of a proposed initiative or

service and providing a framework and direction for its development and delivery. It is a process for making sound decisions and setting direction. It is also a process which:

is driven by research and analysis usually involves some form of consultation with

stakeholders, community, users, etc.

focuses on analyzing, clarifying and resolving

key issues and areas of concern or uncertainty very often involves basic modeling and testing. of alternative concepts and approaches.

A Project Feasibility Study is an exercise that involves documenting each of the potential solutions to a particular business problem or opportunity. Feasibility Studies can be undertaken by any type of business, project or team and they are a critical part of the Project Life Cycle.

When to use a Feasibility Study?

The purpose of a Feasibility Study is to identify the likelihood of one or more solutions meeting the stated business requirements. In other words, if you are unsure whether your solution will deliver the outcome you want, then a Project Feasibility Study will help gain that clarity. During the Feasibility Study, a variety of 'assessment' methods are undertaken. The outcome of the Feasibility Study is a confirmed solution for implementation.

Council involvement. The following are more specific

circumstances that may prompt the need for a

feasibility study:

significant capital investment is required.

significant City funding or public fundraising is required.

significant commitment or exclusivity of City land or building floor space and time is required.

there is no clear champion

financial viability is in question (costs compared with anticipated revenues)

community needs...