A feasibility study should make the decision easier, not longer

Define viable before testing

A feasibility study needs decision criteria. These might include minimum demand, acceptable payback, operational capability, regulatory conditions or a maximum level of downside.

Without criteria, evidence is collected but the decision remains subjective.

Test the whole proposition

Commercial feasibility is more than market size.

• Is there a specific customer problem and credible demand?
• Can the business reach buyers at workable acquisition cost?
• Can it deliver reliably at the required quality and margin?
• What dependencies or specialist approvals exist?
• Which assumptions cause the result to change most?

End with a decision and next test

A useful conclusion can be proceed, revise, run a controlled test or stop. It should explain why, identify the conditions behind the recommendation and state what evidence would justify changing it.