What Is the Technical Study of Feasibility?
A technical study of feasibility is an assessment of the logistical aspects of a business operation. It includes segments on necessary materials, labor and technology, and the means of shipping or transporting goods, according to About.com. Although not part of the technical portion of the study, a financial feasibility report is typically included, and it is supported by the details of the technical study.
Before investing in product redesign or the introduction of new products, a business may conduct a feasibility study to estimate the technical and financial requirements and gauge the likelihood of success. A feasibility study that links sound technical projections with solid financial accounting serves as a valuable document for drawing investors and securing loans.
Provided in the materials section of the study are necessary raw material and manufacturing supply lists and an analysis of sourcing the goods. The labor section documents how many employees, and which positions, will be needed to conduct business before and after the projected growth. In the technology category, an estimate of the required hardware and software is presented. The shipping section outlines any special handling requirements and the means of delivery. This section may include an intention to rely on local couriers and freight companies or to purchase company vehicles.