A feasibility study is an engineering study based on test work and engineering analysis, which presents enough information to determine whether or not the project should be advanced to the final engineering and production fabrication stage. Key components in the feasibility study are the design, production schedule, a detailed process flow sheet, consideration of environmental issues, detailed capital and operating costs estimates, and an economic model of the project.
The consequences of not following these steps are project delays and costs, including lost opportunity costs. Experience has shown that skipping the pre-feasibility study does not save time and money because issues that should have been identified early in the process are not found, creating delays while these issues are analyzed and addressed, which results in increased costs.
WESTEST has broad and deep experience in conducting feasibility studies that will optimize the path from concept to production.