A feasibility study assesses the viability of a proposed new project or system. The purpose is to objectively examine the added value and risks of implementing a new approach or technology. The components of the proposal that will be tested are determined together with the customer. The result can also provide suggestions for improvement.
This assessment focuses on the technical feasibility of applied technology or an integrated system. It includes evaluating the hardware components, software development, and other technical requirements of the proposed system.
The operational added value of the applied system or technology is considered. It looks at the extent to which the proposed system solves the problem defined during the demarcation of the requirements.
It also considers the economic benefits. The total additional costs of the new application are compared to the added value provided by the specific solution. This added value can consist of financial values (e.g., fuel savings), additional safety (minimizing the chance of downtime), or the optimization of the operation (more efficient management).
The maritime industry has made agreements concerning the safety of people at sea and the marine environment. In this study, the applied technology or project is tested whether it is in compliance with the applicable regulations or other international agreements.
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In addition, standards and other international agreements apply in electrical engineering to ensure the safety of people on board. We can test innovative concepts against these standards to verify that they align with the electrical engineering standards.