A technical study evaluates and analyzes the technical aspects of a potential project to determine its technical feasibility and its ability to achieve the desired objectives. It is a core pillar of any complete feasibility study, alongside the economic and marketing studies.
Core elements of the technical study
- Technology assessment: analyzing the technology used and its fit with requirements, and whether the equipment, software and systems can deliver the required performance.
- Process assessment: analyzing the workflow and processes, how materials, labor and resources flow, and any possible improvements.
- Human-resources assessment: evaluating the availability of suitable technical skills and the need for training or additional hiring.
- Technical-risk assessment: analyzing potential risks that could affect execution, their impact and likelihood, and strategies to handle them.
Steps to prepare the study
- Define objectives and requirements — technology, required performance and available resources.
- Analyze the technical environment — available technology, equipment, systems and standards to meet.
- Assess technology and equipment — compare options and select the best technical solutions.
- Analyze processes — identify and analyze key processes to surface problems and improvement needs.
- Analyze technical risks — and develop mitigation strategies.
- Assess human resources — required skills and any training/hiring needs.
- Estimate costs and benefits of the technical aspects.
- Make the decision — proceed, adjust or pause based on technical feasibility.
At Expertise Consultancy we prepare a precise technical study led by a specialized team to ensure decision quality before you invest.