What is Feasibility Analysis?
A feasibility analysis tests whether a proposed project can realistically succeed before serious money commits — across technical (can we build it?), economic (do benefits beat costs?), operational (will it work in our environment?), legal/regulatory, and schedule dimensions. Its product is a go/no-go recommendation with evidence.
Its integrity depends on being allowed to say no: a feasibility study commissioned to bless a decision already made is theater with a budget line.
Worked example
A municipality studies waste-to-energy: technically proven (vendors exist), economically marginal (payback 14 years at current tipping fees), operationally hard (no staff with plant experience), legally slow (emissions permitting ~3 years). The honest recommendation: no-go now, revisit if fees rise 30%. Two years of council enthusiasm ends — and a $200M mistake never starts.