To determine the
technical and economical feasibility of a certain solution both
technical and economical feasibility studies are needed.
Technical feasibility
study typically includes the derivation of rough mathematical models,
simple controller design, first simulation runs and results validation.
Also belonging to this study are the suggestion of the system concept,
the first search for the needed key components in available
international offer and the identification of the manufacturing
partners.
The economical
feasibility study provides estimates for the development budget in
phases and the expected product cost for the different targeted yearly
production volumes, so that the market chances can be also evaluated.