When is a feasibility study a good idea?

You should get a feasibility study anytime the cost of a project is more than you are comfortable risking, when you need additional confidence in or help to assess competing opportunities, or when you want to test an idea or concept.

Often the main reason a feasibility study is commissioned is to help provide a sober review of the qualitative and quantitative aspects of an opportunity. This means having an independent third-party economics firm, such as Alyn Robert Economic Strategies, conduct a feasibility study and assess the likelihood of success or failure under conservative conditions and in the face of uncertainty.

A feasibility study is often considered a cost of doing business but also a well-understood tool to help mitigate risk. Business is risky, and good fiscal stewards do everything in their power to limit the downside and maximize the upside of their projects. If you have competing opportunities, often a financial economic feasibility study will help identify potential risks of each opportunity and provide comprehensive financial key performance indicators (KPIs), so you can compare the numbers against your targets and make the best data-driven decisions.

If you’re a visionary entrepreneur or executive, you’ve probably had those random epiphanies or “Ah-ha!” moments. You know going in a new direction is where your company needs to be headed. But that direction might be in a new geographical market or a new industry entirely. If you have a Board of Directors or Investors that you need to convince, it can be an uphill climb to get an agreement. This is when a feasibility study becomes handy. It can be used to first test your idea or concept and, once proven, allows investors and stakeholders to see visualize the potential and get on board.

Alyn Robert is here to help

Alyn Robert Economic Strategies specializes in financial economic feasibility studies and other business economics services. Reach out today with your questions and get started now. Working with Alyn Robert, you can expect that we will operate in a clear, direct, and transparent style. We maintain a high-level ethical standard for research and consultation, and Alyn Robert is a fully independent firm, so you can trust that we are able to offer the most objective perspectives and opinions on the problems that you face