Every great innovation starts with an idea—but how do you determine whether that idea can be transformed into an actual, functional product? This is where a feasibility study comes into play. A feasibility study is a structured approach to evaluating whether an idea is viable, focusing on technical know-how, proof of concept, and feasibility demonstration.
1. What is a Feasibility Study?
A feasibility study answers the question: Can this idea be turned into a product? It is the first step in the innovation process, analyzing whether a concept can move from theory to reality.
For example, imagine you have an idea for a car that can achieve 500 miles per gallon. While the concept sounds exciting, the key question is: Is it possible? A feasibility study provides a structured method to evaluate such ambitious ideas.
The study primarily focuses on three critical aspects:
- Existing Knowledge and Technology
- Demonstration of Concept
- Building a Crude Prototype
2. Evaluating Existing Knowledge and Technology
The first step in a feasibility study is assessing whether the existing technology supports your idea. This involves:
- Researching journal papers, patents, and technical literature to see if similar concepts have been explored.
- Identify previous attempts and understand their successes or limitations.
- Determining whether advancements in materials, engineering, or physics make today’s idea feasible.
This theoretical exercise helps establish whether the idea has a scientific or technological basis. If similar work exists, it provides confidence that the idea might be achievable.
3. Demonstrating the Concept
Once research indicates an idea might be possible, the next step is to move beyond theory and prove it through demonstration. This is different from creating a full-fledged product—at this stage, the goal is to show that the technology can work.
A demonstration involves:
- Developing a crude prototype—a simplified product version that proves the core technology functions.
- Testing whether the concept can produce expected results under controlled conditions.
- Focusing on technical feasibility rather than manufacturability or cost-effectiveness.
For instance, in the case of the 500-mpg car, this phase might involve building a small-scale engine prototype that demonstrates the potential for extreme fuel efficiency.
4. Building a Crude Prototype
A crude prototype is an early-stage experimental model designed to verify the feasibility of an idea. It is different from a fully functional prototype because:
- It does not need to be cost-effective.
- It does not need to be production-ready.
- It only needs to prove that the idea works.
This stage is critical because it bridges the gap between theory and reality. If a crude prototype successfully demonstrates the core functionality, the next step would be refining it into a more sophisticated prototype for further testing.
In a Nut Shell
A feasibility study is the foundation of product innovation. It helps innovators determine whether their idea can transition from a concept to a real-world application by:
- Assessing existing technology and research.
- Demonstrating a working concept through tests.
- Building a crude prototype to validate the core technology.
By following these steps, innovators can minimize risk, validate ideas early, and ensure resources are invested in projects with real potential. Whether developing cutting-edge electric vehicles, medical devices, or breakthrough engineering solutions, feasibility studies remain an essential first step in technological advancement.
QUESTION: How would you use the 80/20 principle during your feasibility study? Tell me your answer at Rakesh. Dhawan at Power Electronics Group dot com. or write a comment below.
Also, check out NASA’s nine levels of Technology Readiness, which are very useful for recording a concept’s progress. This is a good framework but not entirely applicable to commercializing a technology that must include first articles, pre-production, and production release activities. Also, in the commercial world, TRL1, 2, and 3 can be combined into a single stage, whereas NASA has to follow a three-stage approach because of the much greater risk and uncertainty of its pursuits of the missions.
NASA’s Technology Readiness Levels (TRLs) provide a systematic framework to assess the maturity of a technology, guiding its progression from conceptualization to operational deployment. This nine-level scale assists in evaluating the development stage of a technology, ensuring it meets the necessary criteria before integration into missions or systems. Below is an overview of each TRL:
TRL 1: Basic Principles Observed and Reported
- Description: Initial scientific research begins, focusing on the fundamental principles of the technology.
- Example: Observing and reporting basic properties of materials or phenomena.
TRL 2: Technology Concept and/or Application Formulated
- Description: Practical applications of the basic principles are identified, though they remain speculative without experimental proof.
- Example: Formulating potential uses for a newly observed material property.
TRL 3: Analytical and Experimental Critical Function and/or Characteristic Proof-of-Concept
- Description: Active research and development commence, including analytical studies and laboratory experiments to validate the feasibility of the technology concept.
- Example: Conducting experiments to demonstrate that a new material can function as a semiconductor.
TRL 4: Component and/or Breadboard Validation in Laboratory Environment
- Description: Basic technological components are integrated to assess their compatibility and functionality in a controlled environment.
- Example: Testing a prototype sensor in a laboratory setting to ensure it operates as intended.
TRL 5: Component and/or Breadboard Validation in Relevant Environment
- Description: The technology is tested in an environment that simulates real-world conditions, providing more rigorous validation.
- Example: Evaluating the performance of a satellite component in a thermal vacuum chamber that mimics space conditions.
TRL 6: System/Subsystem Model or Prototype Demonstration in a Relevant Environment
- Description: A high-fidelity prototype is developed and demonstrated in an environment resembling the operational setting.
- Example: Testing a robotic lander in a simulated Martian terrain to assess its performance.
TRL 7: System Prototype Demonstration in an Operational Environment
- Description: The prototype is tested in the actual operational environment for which it is intended.
- Example: Deploying a prototype Earth-observing instrument on an aircraft to collect atmospheric data.
TRL 8: Actual System Completed and “Flight Qualified” Through Test and Demonstration
- Description: The technology has been proven to work in its final form and under expected conditions.
- Example: A satellite instrument that has completed all ground testing and is certified for launch.
TRL 9: Actual System “Flight Proven” Through Successful Mission Operations
- Description: The technology has been successfully integrated into a mission and has demonstrated reliable performance in an operational setting.
- Example: A spacecraft component that has operated successfully during a space mission.
Understanding and utilizing TRLs enables NASA and its partners to manage technological development effectively, ensuring that innovations are sufficiently mature before being incorporated into critical missions.
Source: NASA Technology Readiness Levels
QUESTION: How should NASA use the 80/20 principle during the nine stages of Technology Readiness Levels? Tell me your answer at Rakesh. Dhawan at Power Electronics Group dot com or write a comment below.