This document discusses the purpose and process of conducting a feasibility study for a new project. It defines a feasibility study as an analysis of the viability of an idea through a disciplined, documented process. The document outlines why feasibility studies are important, including determining if a system meets client objectives and identifying factors that could affect the project. It also describes the typical steps involved, such as conducting market research and preparing financial projections. Finally, it discusses different types of feasibility studies and their advantages, such as providing a structured approach and basis for funding decisions.