Introduction to Feasibility Studies for Construction Projects

To determine if your preliminary plans can be constructed according to your specifications, your project may require a
feasibility study, also known as a
feasibility analysis or
viability study.

Feasibility studies are preliminary studies that are undertaken in the earliest stages of a project to address and clear up doubts and address difficulties related to the proposed plans.

A well-designed and well-planned project feasibility study should determine:

1. Whether or not the project is viable
2. What site remediations need to be made in order to complete the project
3. If another location would be better suited

source https://www.cdmg.com/building-faqs/feasibility-studies-for-construction-projects