A feasibility study is completed to justify an objective.  It is used to provide a cost/benefit analysis as well as a thorough analysis of impacted stakeholders.  Usually several alternatives are considered and weighed against each other.  The objective of a feasibility study is to determine the right alternative.  Some questions a typical feasibility study would answer include:

bulletIs it feasible for Company X to centralize its call center function versus having regional call centers?
bulletShould we outsource our installation function? What are the pros and cons financially?  What are the subjective pros and cons?  How do we maintain control in an outsourced situation?
bulletWhat is the cost/benefit of spending $1,000,000 on a new purchase?
bulletShould we change the process on this task?  How is it done today and how much would we save by changing the way we do it. 
bulletIs it feasible for Company I to sell services in these states?  What would the anticipated sales be?  Who are the best targets?

 A typical feasibility study includes the following tasks:

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Understand current environment

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Determine success criteria

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Identify alternativesEvaluate each alternative with respect some of all of the following:
bulletHuman Resources
bulletSoftware
bulletHardware
bulletTechnology Requirements
bulletOperations
bulletEngineering
bulletMarketing
bulletFinance
bulletLegal Considerations
bulletOrganizational Structure
bulletAdministration
bulletLocation Alternatives/Site Selection Criteria
bulletFacilities
bulletErgonomics
bulletCustomer Expectations
bulletCustomer Input
bulletProcess Evaluation
bulletMeasurements
bulletImpact of this alternative on other company projects:
bulletCompetitive Analysis
bulletTrend Analysis
bulletOutsourcers Evaluated
bulletWhat is required to make the change?
bulletRisk Assessment

Alternative Selection Evaluation Qualified and Quantified

Develop Screening Model

Choose an alternative

Obtain appropriate approvals

Develop Implementation schedule and project plan for deployment

Just In Time Expertise - When You Need It.
Business Plans, Feasibility Studies, Justify New Revenue Streams, Shape Strategies, 
Pursue Funding, Decision Making Matrix, Research, Due Diligence, Customer Service Initiative
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