Definition: The “Feasibility study” is the first stage of a project during which the End User generally supported by an engineering company will investigate the most convenient technologies or processes to be used. This “Feasibility study” will also integrate all the corresponding costs aspects. The conclusions of the “Feasibility study” are barely a straight forward recommendation of go or no go but more a pragmatic list of conditions which can influence positively or negatively the execution of the project and to make it profitable over the years.
Comment: The “Feasibility study” may also be called “Pre-FEED”. Normally, different scenarios of capacity are also considered during this stage in order to estimate the optimal financial performances in respect with the costs of the license, the construction costs and the local constraints which may be related to the site, the feeding resources, the market, the environment, etc… That is why we see many projects changing size or configuration during the execution phases following this “Feasibility study”.