Feasibility Studies and Testing
Our Process
We are using a unique methodology of assessing the feasibility of your product or project. Mixing the traditional steps of conducting feasibility analysis with cutting-edge online technologies that allow us to check the technical, economic, legal, operational and scheduling feasibility of your product or project. Our team will tailor each feasibility study to suit your needs, timeframes and budgets.
Why use a feasibility study?
When starting a business or considering a new product/service in your existing business one of the most important steps is to do a feasibility study. Performing a feasibility study will provide you and potential investors with accurate information whether your product/service is viable and has the potential for success. Feasibility studies help decision makers avoid taking unnecessary risks and costs by providing them with critical information.There are 3 main questions that a feasibility studies answers:
Start-Up Feasibility
Testing the technical, financial and marketing aspects of the product/services your start-up offers. Used as validation of your business idea and base for the development of your business plan. It will help you further define your business model and scalability potential, and provides investors with accurate information to make informed decision regarding your business.
Technical Feasibility
Risk Assessment and Solutions
Analyzing whether the company possesses the technology needed for the development of the product/service. It also assesses if the team has the technical skills and capabilities for developing and maintaining the product/service.
Operational Feasibility
Control Efficiency and Services
Analyzing how well the proposed product/service solves the problems it is supposed to solve, and takes advantage of the opportunities identified during scope definition
Economic Feasibility
Cost-Benefit Analysis
Analyzes what will be the cost for development and determines if the proposed product/service will be economically viable. It typically involves the performance of a cost-benefits analysis.
Legal Feasibility
Analyzing barriers of legal implementation of project, data protection acts or social media laws, project certificate, license, copyright etc.
Schedule Feasibility
Tests the feasibility of the set deadlines for development of products/services and the impact on the company in case of non-completion. Resource allocation and optimisation.