Creating a new product is an exciting undertaking, but there are a number of practical things that must come before the design and development phase actually begins. Before you dive in and start designing a new product performing a feasibility study is in order.
A feasibility study is an enormously important step in the creation of a new product, so selecting the right company for the job should not be a decision taken lightly. For a company that brings together years of experience with a keen eye for cutting edge design, Advanced Architectures is ideally positioned to carry out feasibility studies.Book an Appointment
What is the Purpose of a Feasibility Study?
A feasibility study is a detailed breakdown of the requirements for the new product. Input from your marketing department, typically an MRD (Marketing Requirements Document) is provided as a guide to what must be created and how it must work. A Use-Cases study, best done by a customer's marketing department, focuses on all the ways that the product will be used and how it should function for each and every use-case.
From this input Advanced Architectures can develop a Preliminary Development Specification that is a response to the MRD and details the objective specification for the product. This specification is sufficient to create a detailed schedule and budget so that the entire project can be costed.
Once the study is complete, those involved in the project can make a decision as to whether or not to proceed with all the pertinent data in mind, based on the information that has been collected.
What Is Factored Into the Study?
There are many things that Advanced Architectures takes into consideration when carrying out a feasibility study. Here are just a few:
Does the project fit the available budget? Are there certain factors that could potentially end up costing more than the amount that has been allocated?
What is the impact on the critical time-to-market that development will have on the clients goals? Is there another solution that would be better suited because the product could be brought to market sooner?
Get the Full Story with Advanced Architectures
As a well-respected architecture firm, Advanced Architectures is an excellent choice for those in need of feasibility studies.
Our thorough and detailed studies have helped many clients make informed decisions about the suitability of a project. Get the full story behind you potential product, and contact us for a feasibility study.
With our feasibility studies, clients are able to make the most of their budgets by finding the most ideal solution to their product goals. Rather than spending a significant amount of money perfecting a product that is riddled with problems, we can assist you in finding the best location for your budget.
To learn more about how we can assist you, give us a call today.