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What do you mean by feasibility analysis?

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Puru BhatnagarTop Contributor
Business Analyst, Entrepreneur, Business developer, Marketer

Feasibility analysis basically involve several steps to check whether the product or your idea is feasible or not.

In other words,. Feasibility analysis is to check whether your idea, strategy or product is within the constraints or not. 

This basically involve checking of constraints, assumption, boundary conditions etc.

There are various types of Feasibility analysis, some of them are as follows:

1). Financial Feasibility :

This is basically to check whether your idea is within the financial constraints or not.

2). Market Feasibility :

This is to check whether your product or idea will be feasible in market or not, whether the product through which you want to solve the problem will be feasible in the market or not.

3). Technical Feasibility :

As the name suggest, in this we check whether the idea or product is technically feasible or not.

4). Time Feasibility :

Yes, in this we check whether the product and the strategy we have is having feasibility with schedule or not.

5). Operational Feasibility :

In this we check whether the strategy we deploy will be feasible for our product or not, and if not then we have to change it accordingly and then come up with the best possible strategy.

There are certain other Feasibility that we can check before coming up to prototype phase, feasibility analysis comes during validation phase.