Technical Feasibility Assessment

A technical feasibility assessment is a process of determining whether a proposed project, product, or service can be technically implemented using current or available technology. It is important to conduct a technical feasibility assessment before moving forward with a project, as it can help to avoid costly and time-consuming mistakes.

There are a number of factors that can affect the technical feasibility of a project, such as the complexity of the project, the availability of technology, and the expertise of the team. If you are unsure whether a project is technically feasible, it is always best to consult with a technical expert.

Technical feasibility assessment and discovery are both important steps in the project planning process, but they are not the same thing. Discovery is the process of gathering information about the project, such as the: requirements, the target audience and stakeholders, the market opportunity and competitors, and the budget. Technical feasibility assessment is the process of determining whether the project can be technically implemented.

Discovery is typically conducted earlier in the project planning process, while technical feasibility assessment is conducted later. Discovery can help to inform the technical feasibility assessment, but the two are not interchangeable.

If you don’t do a technical feasibility assessment, you run the risk of:

• Spending time and money on a project that is not technically feasible.
• Missing deadlines and overrunning budgets.
• Delivering a product or service that does not meet the requirements.
• Damaging your reputation.

It is always better to be safe than sorry and conduct a technical feasibility assessment before moving forward with a project.

The deliverables of a technical feasibility assessment can vary depending on the specific project, but they typically include the following:

• A report that summarises the findings of the assessment.
• A list of the technical requirements for the project.
• A plan for how the project will be technically implemented.
• A list of risks and challenges associated with the project.
• A recommendation for whether to proceed with the project.

The length and cost of a technical feasibility assessment will vary depending on the complexity of the project. However, a typical technical feasibility assessment can take anywhere from a few weeks to a few months, and it can cost anywhere from a few thousand dollars to a few hundred thousand dollars.

The cost of a technical feasibility assessment can be a significant investment, but it is a worthwhile investment that can help to avoid costly and time-consuming mistakes.