The purpose of a feasibility study is to create a basis for decision on investment projects. This often implies evaluating whether a certain solution or viable solutions fit into a specific business case. The level of technical details are often quite low, evaluation criteria typically being topics such as:
Feasibility study outputs:
Economy estimate (CAPEX / OPEX)
Considerations in business case perspective on:
These topics and evaluation criteria focus on creating a “Basis for Decision”, rather than focusing on describing technical details (basis for design). However, evaluations are based on a high level concept description to make sure there is a reasonable scope description as a basis for estimates and evaluations. As the level of technical details are kept low, it is also quite common to evaluate more alternatives (2-8) in this phase compared to later ones, while considering which business decisions should be made to set direction for later phases of a potential investment project.