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Engineering -- ENGR240 -- Technical Writing

A guide to assist students completing their research assignment.

What is a Feasibility Study?

A feasibility study is the initial design stage to any project or plan. It is an analysis into the viability of an idea. They help determine if the company possess the required resources or technologies and does the proposal offer a reasonable return vs. risk from the investment?

They usually contain:

  • an executive summary
  • description of product or service
  • technology considerations
  • product or service marketplace
  • identification of specific market
  • marketing strategy
  • organization strategy
  • schedule
  • financial projections

Feasibility studies are different from business plans. Feasibility studies investigate whether an action is a viable business venture. A business plan provides a planning functions and outlines the actions needed to take the proposal from an idea to a reality.


For more information, check out:

What is A Feasibility Study (Iowa State University)

When to Do and How to Use a Feasibility Study

Conducting a Feasibility Study

Types of Feasibility Studies


  • hardware and software; existing or new; staffing skills


  • initial and future stakeholder investors; ROI benchmarks


  • industry type; marketing characteristics; market growth; competition environment; sales projections


  • structure; legal; management team's competency

Useful Sources of Market and Company Information

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