| John Spacey, February 01, 2016 updated on November 25, 2017
Feasibility is the degree to which something is possible. This is described on a scale from easy to impossible. Feasibility can be evaluated for any strategy, decision or plan by conducting a feasibility study. The following are common types of feasibility.
FundamentalSomething that is literally impossible based on first principles in areas such as physics, chemistry, biology or economics.
TechnicalSomething that is impossible based on the capabilities of a particular tool, machine, system or platform. Technical feasibility also includes the question of whether a solution can be found that meets requirements or solves a technical problem.
OrganizationalThe realistic limits of an organization based on its current capabilities and culture. For example, something that is feasible for your strongest competitor may not be feasible for you.
SkillsAccess to the skills required to execute a plan.
ResourcesThe ability to secure resources such as procurement of parts.
LogisticalThe ability to pull things together such as people, facilities and supplies such that everything is where it needs to be at the right time.
FinancialFinancial feasibility is mostly about cost and benefits. A project may be prohibitively expensive or may have an unattractive return on investment.
MarketsMarket conditions such as the demand for a product or service in a particular city.
CompetitionThe potential for competition to disrupt your plans. For example, it may be feasible to launch an improved product but it may not be feasible to launch it before the competition improves their product.
CustomersThe needs, preferences and knowledge of a customer base, target market or target audience. For example, the feasibility of migrating banking customers to self-service tools.
LegalLegal risk and compliance to laws and regulations.
ScheduleThe feasibility of meeting a deadline or completing something fast enough to meet your objectives.The feasibility of a design. For example, a feasibility study to test new materials for an aircraft design.
OperationalThe feasibility of day-to-day processes. For example, the feasibility of operating an unusually large aircraft at airports around the world.
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