Feasibility Studies
Feasibility Studies
A feasibility study is an analysis of a proposal, carried out to determine the practicality and possibility of carrying out a particular task. There are five common feasibility factors that are taken into consideration when calculating the practicality of a project. These are technology and system feasibility, economic feasibility, legal feasibility, operational feasibility and schedule feasibility.
Technology and system feasibility assesses the system requirements in terms of input, processes, output, fields, programs and procedures. Basically it estimates whether the new system will perform adequately. Analysing the economics of the system involves undertaking a cost / benefit analysis to calculate the effectiveness and efficiency of the system. Legal analysis takes any legal requirements to be complied with into consideration.
The operational feasibility study measures how well the proposed system satisfies the requirements outlined, as well as how well it takes advantage of the opportunities available. Finally, schedule feasibility measures how reasonable the project timetable is. It considers the practicality of the proposed deadlines, and whether these are mandatory or desirable. This is very important, since if a project cannot be completed in a reasonable time frame, the costs may escalate beyond what is reasonable. On the other hand, the timetable may be unreasonable in that there is insufficient labour or technical expertise to meet deadlines.
Project Development
Process Systems Services Pty Ltd offers feasibility studies by their in-house engineers. With their experience in designing, manufacturing and installing a range of food and chemical processing machinery, Process Systems Services can provide complete turnkey systems, solution engineering and consultancy services. This includes specialised repair and replacement services for solid steel belt conveyor belts.
Process Systems Services offers a high level of service in steel belt coolers, trim paper extraction and removal systems, dust collectors, oil skimmers, pneumatic conveying systems, industrial compactors, pasteurisation equipment, steel belt ovens and nut roasters, computer trolleys and more.