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Feasibility Assessment

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Every groundbreaking product begins as an idea, a spark of innovation. But not every idea is destined for market success. How do businesses differentiate between concepts that will soar and those that might falter? Enter our Product Feasibility Assessment Service—a comprehensive approach to analysing, evaluating, and guiding product concepts from initial ideation to manufacture. This is one of various viability assessments that we offer. Although this covers various aspects it is focused predominantly on technical feasibility and so will consider mechanical and electronics systems and what they can deliver versus the project requirements.

Our Process

Defining the Specification: We work with you to understand the product’s main functions and desired features. Performance metrics are converted to measurable values, making the project analysis tangible and precise. For example: “Good battery life” might become “Battery lasts for 8 hrs of continuous use at room temperature” This type of clarification is criteria if the analysis is to be specific, clear and effective. This stage also involves ranking the importance of various product requirements.

Technical Exploration: We look into possible technical solutions, keeping in mind any relevant standards or compliance requirements. This could involve: researching the efficacy of new technologies; analysing electronics requirements with a specialist; calculations for weight and size based on average component sizes or a range of other development work necessary to assess the viability of designing an appropriate concept.

Risk Assessment: We identify potential issues highlighting the risks involved and where further design effort may be required, including:

  • Cost challenges of developing solutions to the various functional requirements previously identified.
  • Off the shelf component constraints impacting the product key requirements such as maximum dimensions or weight.
  • Supply chain reliability
  • Potential limitations due to other factors with achieving the desired outcome.
  • Testing and Certification requirements that will affect the products design and/or functionality.

Findings Overview: We provide a report detailing the feasibility of your product concept, highlighting both opportunities and challenges. Every product concept is a fusion of potential and challenges and every project ends up as a series of necessary compromises. For example, you may want to use carbon fibre to ensure that the product is lightweight but end up using aircraft grade aluminium alloy that is light but much more cost effective than carbon fibre. This report highlights where the likely compromises are likely to be.

Our in-depth report is committed to providing a transparent and comprehensive analysis of the feasibility of your idea. We delve into each aspect of your concept, from the very basics to the intricacies, highlighting both its strengths and potential roadblocks. By understanding the entirety of your concept, we ensure that you have a full grasp on the risks and potential rewards of your project.

Recommendations: Based on our research, we suggest next steps, which might include market research, a deeper look into commercial viability, or creating a proof of concept. The insights from our assessment are not just descriptive but also prescriptive – we don’t just stop at identifying possible hurdles or strengths; we use these insights to guide the ongoing development. With a clear understanding of the findings, our team outlines a series of recommended actions tailored to your product’s unique demands. Whether it’s a need for deeper market analysis, an examination of its commercial viability, or taking the tangible step of creating a proof of concept, our recommendations are designed to give your product the best chance at success. On occasion our findings may unfortunately, demonstrate that the concept is not feasible. This can also be a win though, as it saves thousands of pounds and months of effort focused on a concept that is highly unlikely to work.

Cost and Time Efficiency

In the competitive world of product development, time is often as crucial as money. Our feasibility service acts as an early warning system, catching potential pitfalls before they escalate into costly issues.

Case Study: Consider one of our client who wanted to develop a new umbrella concept with a unique mechanism. Without our service, they might invest heavily in prototyping, only to realise late in the process that a unique and necessary material that the design depends upon isn’t readily available in the form that the project needs. This would have led to project delays, redesigns, and wasted capital. With our service, such oversights was caught early, ensuring resources are channeled efficiently from the get-go into an alternative design.

Informed Decision Making

In-Depth Explanation: The journey from idea to market-ready product is fraught with difficult decisions and compromises. From material selection to design specifics, every choice can profoundly impact the final product’s viability and market acceptance. Our service doesn’t just highlight potential challenges; it provides a foundation of knowledge that equips businesses to make decisions confidently.

Case Study: A small investor backed UK businesses wanted to develop a solar-powered outdoor gadget. Our analysis revealed that while the chosen solar panel meets energy needs, it under-performs in cloudy conditions common in the target market. As such the necessary battery would have to be considerably larger and heavier than they had expected. With this knowledge the company could choose to conduct market research to establish if this was acceptable to their target market or whether they needed to re-consider the whole project.

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Strategic Guidance

In-Depth Explanation: Beyond raw data and findings, what sets our service apart is our strategic advice. Our team doesn’t stop at identifying issues; we take the next step, recommending actionable strategies tailored to your product’s demands and market realities. Often we will suggest alternative solutions that are more achievable or reliable.

Example: Take a firm designing a wearable health device. Our assessment noted that while the device’s health tracking features are cutting-edge, there is alternative cheaper technology that provides a similar benefit to this particular user in this scenario. Our strategic guidance would then highlight this and might recommend diversifying features, emphasizing other unique selling points, or positioning the product for a niche segment of the market craving advanced health metrics. In another scenario, we might discover that a desired material, say, a particular lightweight alloy, is becoming scarce and expensive. Our guidance would highlight alternative materials or even suggest strategic partnerships with suppliers to lock in current prices.

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Highly recommend. Delivered exactly what I had asked for and more. Very talented and knowledgable team.
Nick Lewis


What is a Feasibility Assessment?

A Feasibility Assessment is a systematic and comprehensive evaluation process used to determine the viability of a product concept or idea. It bridges the gap between a budding idea and its potential for real-world success. The assessment delves into various facets of product development, including technical requirements, ergonomics, potential technological solutions, risk factors, and ‘off the shelf’ cheaper alternatives. In essence, it helps businesses discern whether their product idea is not only innovative but also practical, viable and achievable.

Technical feasibility refers to the practicality of a proposed project or solution based on technological aspects. It evaluates whether the required technology exists, if it’s achievable given current technological constraints, and if the project can be developed and implemented using the available skills, tools, and technologies. In the context of a Product Feasibility Assessment, technical feasibility delves into:

  1. The mechanical and electronic systems of the product and their alignment with project requirements.
  2. The availability and reliability of the required technologies.
  3. Potential technological challenges, including hardware limitations, software constraints, and integration complexities.
  4. Analysis of any necessary calculations, such as product dimensions based on component sizes.

Feasibility is crucial for products because it determines if an idea can realistically be transformed into a viable product. It ensures efficient use of resources by identifying potential technical roadblocks early on. By assessing feasibility, businesses can mitigate risks, align expectations, prioritise resources, and enhance decision-making. This process safeguards against investing in concepts that might face insurmountable challenges, ensuring that only viable ideas progress further. Ultimately, feasibility acts as a foundational checkpoint, ensuring product development endeavours are grounded in reality, increasing the likelihood of market success.

Risk assessment in product development involves identifying, analysing, and evaluating potential obstacles, uncertainties, and negative outcomes that could impact the successful development, launch, and lifecycle of a product. By understanding these risks early, businesses can implement strategies to mitigate or manage them effectively.

Risk assessment in product development involves identifying, analysing, and evaluating potential obstacles, uncertainties, and negative outcomes that could impact the successful development, launch, and lifecycle of a product. By understanding these risks early, businesses can implement strategies to mitigate or manage them effectively.

Overview of Feasibility Assessment

Clarifying Vision through Functionality & Performance

Before diving into the complexities of feasibility, it’s important to have a crystal-clear definition of the product’s intended function and performance metrics. This step is more than just jotting down specifications.

Consider a consumer product that is handheld and battery powered. Rather than a vague desire for “a powerful motor” our approach translates this into precise, measurable criteria: “Motor has a torque of 300N/m in order to operate under a maximum load of 150kg” This precision isn’t mere pedantry; it’s the foundation upon which the entire assessment rests and indeed the rest of the project.

In addition to defining specifics, this initial step involves ranking the importance of various product attributes. That way, we understand not only what the product should do, but also what features are non-negotiable versus those that could be modified, or dropped entirely, if necessary.

Technological Exploration & Risk Mitigation

Once the product’s requirements are defined clearly, our team dives deep into technical exploration. This involves researching potential technologies, analysing electronics options. discussions with specialists, and any necessary calculations such as potential product dimensions based on typical component sizes.

However, technical feasibility isn’t just about identifying what’s possible—it’s also about anticipating what might go wrong. Our risk assessment is comprehensive, spotlighting challenges like:

  • Cost implications of specific components or solutions.
  • Restrictions posed by off-the-shelf components.
  • Supply chain reliability, ensuring no hiccups down the road.
  • Potential challenges from regulatory or certification requirements.

Consider a company aiming to produce a novel wearable tech. Our assessment could reveal a critical component is at a supply risk due to the rapid increase in the demand for electric cars that use the same electronic component. Or, we might find that achieving the desired slim profile of the device is challenging given current motor technology. These insights, provided early, are invaluable.

Comprehensive Reporting: The Roadmap Forward

Our service culminates in a detailed report. But this isn’t just a binder of data and observations – we detail both the opportunities and challenges associated with the product concept, providing a clear picture of where the product stands in terms of viability.

Take the example of a company keen to develop a folding stool that fits into aircraft hand luggage. Our findings might indicate that while the required dimensions and weight are achievable with low cost solid materials, its maximum load is 80kg making it unsuitable for 40% of the UK adult population. In such cases, alternatives like ripstop textiles might be recommended, balancing weight and size considerations.

Moreover, our report doesn’t stop at the present. We look ahead, suggesting the next best steps. This could involve more granular market research or even developing a proof of concept model. If our analysis suggests that a concept might not be viable, we articulate that as well. Such insights, while tough, can save companies significant time and money in the long run.

Why Invest in Feasibility Assessment?

The promise of our Product Feasibility Assessment Service isn’t just about evaluating the potential of a product—it’s about setting it up for success. By preempting challenges, clarifying requirements, and offering actionable guidance, we empower businesses to navigate the murky waters of product development with confidence.

Whether you’re a startup with a fresh concept or an established firm looking to diversity your product range, our service is tailored to ensure that your product idea isn’t just novel, but also viable, valuable, and primed for market success.

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