A feasibility assessment objectively reveals whether a project or part of its features is feasible to be built with reasonable cost, time, and team capability.
A report would be provided to list each relevant feature, whether it is feasible, the risks, and the options to implement it.
A good feasibility assessment helps the stakeholders to decide better if a project should proceed or if a feature should be kept, revised, or cancelled. The stakeholders should be more confident to proceed with the project by understanding the feasibility or the risks.
The feasibility assessment should be performed after the main scope is confirmed and before any concrete UX or technical design is started. To make sure all the features are designed and built with confidence.
Perform a preliminary study of the project needs and clearly understand your business objectives and goals.
Confirm the relevant budgets, resources, and timeline.
Analyse the requirements from a technical perspective, and evaluate each essential item to find the possible solution along with the details, including the technologies to be used, required team effort, risk, etc.
If a third-party library or solution is needed, provide the license and the cost.