Concept and Feasibility Studies
Developing the concept and compiling a feasibility study is not an obligatory stage in project work but the necessity and the advantages of this stage of the work are obvious. Firstly, as the customer finds him- or herself approving the project to meet those or other needs, he or she may find it difficult to assess how long the project will take and how fast it can be recouped. Secondly, the customer may find it difficult to assess all the options, and compare their strong and weak points. Therefore, the main goal of the feasibility study is to work through all the options within the project and examine its economic content.
As the concept is being created, various problem-solving algorithms are analyzed, and the economic indicators of each of the options are assessed. Additionally, the terms of the project payback period are estimated. After the work is complete, the customer gets to appreciate the advantage that this or other technical solution will provide. Before the project starts, the customer will see the whole picture and will be able to plan and distribute his or her financial resources adequately.
Since the development of the concept is a process that requires joint work of the Project Department, the Economic Department, and, often, the Legal Department, as you select the contractor company you need to consider its status and reputation in the field of project services. The Project Department of ITC-Electronics has successfully completed more than 100 projects, and more than 23 years of experience in the work of the holding is a testimony in itself. Even in conditions when all cooperation issues with an outside project organization had been settled, staff of ITC-Electronics Project Department will have no problem working separately on this stage, and provide all the necessary documentation in electronic form and in writing.