A prefeasibility study is rough screening aiming at identifying the most promising idea(s) and discard the unattractive options. This reduces the number of options that are chosen to proceed with a more detailed feasibility study and eventually with business development, ultimately saving time and money.
It means a comprehensive study of a range of options for the viable delivery of a project, including an assessment of the technical, financial, legal, environmental and social viability of the Project.
Often, the pre-feasibility study returns only one most promising option. The assessment of the business idea has different focuses: technical, regulatory, environmental, economic and financial aspects are analysed. A pre-feasibility study is a preliminary systematic assessment of all critical elements of the project – from technologies and costs to environmental and social impacts.
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