Technical Feasibility Study
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Validating Your Innovation: Tailored Technical Feasibility Study Consultancy
At Nexinch, we recognize the critical importance of technical validation before embarking on complex projects. Our team of experienced technical consultants specializes in crafting custom feasibility studies that not only assess technical viability but also inform strategic decision-making. From technology evaluation to risk assessment, we possess the expertise to conduct comprehensive feasibility studies that address your unique project challenges. Leveraging rigorous methodologies and industry best practices, we ensure your feasibility studies are not only insightful but also actionable and reliable. Some of our technical feasibility study consultancy services include:
- Technology Evaluation & Selection: Assessing and recommending appropriate technologies for your project.
- Risk Assessment & Mitigation: Identifying and evaluating potential technical risks and developing mitigation strategies.
- Resource & Cost Estimation: Providing accurate resource and cost estimates for project implementation.
- Architecture & Design Evaluation: Evaluating the technical architecture and design of your proposed solution.
- Proof of Concept Development: Developing and testing proof-of-concept prototypes to validate technical feasibility.
Hypothesizing and testing
We'll use our expertise in to come up with problem-solving hypotheses. Then we'll conduct a stringent set of tests to validate those hypotheses, so we can help you define the best technological approach.
Selecting the right technology
We'll identify software stacks and hardware components that could meet your specific business requirements, using our extensive knowledge to scope out the advantages and disadvantages of Innovative technologies.
Deployment and next steps
Our Centers of Excellence encompass project management, business analysis, quality assurance. customer support and more with dedicated R&D management and engineers assigned to your feasibility study.
Application re-engineering
Once we've scoped your requirements, budget and timeline, our team of software engineers will design and test robust application re-engineering solutions with your current legacy setup. We'll only make updates and adjustments that really add value.
The Tangible Business Value of Nexinch's Technical Feasibility Studies
Scope out emerging technologies
We’ll help you investigate the pros and cons of technologies, including IoT, AR/VR, RPA and AI – using our expertise to assess their potential within your business environment.
Innovatively solve problems
With less financial risk, you’re able to take a more innovative approach to problem-solving. Your core project team is on hand for the duration of the technical feasibility study – with experienced engineers available for the most challenging explorations.
Validate ideas before you invest
Reduce your risk by testing out unchartered solutions to your most complex business problems, before you make a major investment. The technical feasibility study helps you reduce technological uncertainty so that, by the time you’ve opted for a solution, you – and your stakeholders – have full confidence in the investment.
Develop a future vision
Nexinch helps you evaluate the current market state vs the worthiness of investment in specific emerging technologies. If the technology won’t add real business value yet, we help you plan for when the time is right and there’s a viable use-case or resource-saving potential.
Gain a competitive advantage
Identify market opportunities and develop a solution based on real-world wants, using the latest technology. We’ll help you create your unique selling point, upgrading your existing products as well as delivering new high-tech solutions to give you a competitive edge.
A technical feasibility study evaluates the technical viability of a proposed project. It assesses whether the necessary technology, resources, and expertise are available to successfully implement the project. It's crucial because it helps you make informed decisions, avoid costly mistakes, and ensure your project aligns with your technical capabilities.
A technical feasibility study should be conducted early in the project lifecycle, typically during the initial planning phase, before significant resources are invested. This allows you to identify potential technical challenges and make necessary adjustments before proceeding.
We evaluate the technology based on its suitability, availability, performance, and compatibility with your existing systems. We conduct research, analyze vendor specifications, and perform testing to assess the technology's capabilities and limitations.
We stay up-to-date with the latest technological advancements and have experience evaluating emerging technologies. We conduct thorough research and testing to assess the feasibility and potential of these technologies for your project.