A feasibility study is an assessment of the practicality of a proposed project or system. A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing project or proposed project, opportunities, and threats present in the natural environment, the resources required to carry the project through, and ultimately the prospects for success.

 

In its simplest terms, the two criteria to judge in the feasibility study are cost required and value to be attained.