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FEASIBILITY STUDY
You want to create a new product. You have a great IDEA and VISION. You wonder how to plan next steps. How to budget, and what pitfalls to avoid.
Reality is brutal: 60% of companies underestimate complexity of launching a new IoT product; 75% of self-funded IoT projects fail Per Cisco survey.
Whether it’s your very first product or another success story, our feasibility study is a step-by-step SOLUTION to reliably get your IDEA to MARKET!
WHY DO YOU NEED FEASIBILITY PHASE
Right now you might have many questions.
- What is the best technology?
- How to plan and de-risk product development?
- How much will the final product cost?
- How much development will cost?
- How fast can we develop it?
- How to make the next step?
To answer these questions and more, we offer the FEASIBILITY STUDY package.
See how it works in overall project timeline.
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01. Project Discovery
We learn about your unique goals and challenges. We apply our engineering expertise to plan your product journey.
- Schedule free engineering consultation
- Complete new Project questionnaire HERE
02. Feasibility Study
We prepare a detailed product specification, select proper technologies, and prepare product roadmap. Get answers to the most pressing questions - how it looks, how it works, how much it costs.
- Product requirements
- User script
- Dimensional estimates
- Product sketching
- 3D renders
- Component selection
- Product cost breakdown
- Project budget and schedule
03. Engineering Prototype (PoC)
Rapidly create Proof of Concept. These “Work like” prototypes showcase your product features while using off-the-shelf components and rapid prototyping techniques.
- Validate key components on off-the-shelf components
- Rapid prototyping (10 - 50 pcs)
- Create Minimal Viable Product (MVP)
- Use first samples to begin user testing
04. ENGINEERING VALIDATION (EVT)
Concept is proven - time to design your product! We create “Work Like, Look Like” samples that looks and functions very similar to production units. You may use this on trade shows, UL / FCC testing, and investor presentations.
- Industrial design
- Hardware development
- Mechanical Design
- Embedded Firmware
- Prototyping (50 - 100 units)
- Engineering test reports
05. DESIGN FOR MASS PRODUCTION (DVT,
PVT)
We cooperate with Contract Manufacturers to prepare product for Mass Production. It involves Design for Manufacturing, Tooling, Compliance testing. Work is done in two phases, DVT and PVT.
- Select Manufacturer (CM)
- Design for Manufacturing (DFM)
- Firmware / Software finalization
- Tooling for Mechanical parts
- Prototyping with CM (500 - 1000+ units)
- Compliance tests (FCC, UL, CE)
- Setup manufacturing process
- Prepare Functional tests
Team of professional engineers will work with you to establish goals and select suitable technologies. The process we used on over 40 Projects
WHAT'S INCLUDED?
We prepare Technical Specification
Product detailed technical description
and user roadmap
We develop Technology Proposal
Select components and technologies
to achieve target specs
We prepare product design
Seeing is believing. We help you visualize your vision
We start with 5-10 design ideas, shortlist 2-3 best options, and prepare high quality 3D
renders
You may use them for marketing and fundraising
We select technologies and components
What wireless interface is best?
What battery is required to provide enough battery life?
How to make it portable and small?
We calculate estimated cost
Final product cost
breakdown (per unit cost) Startup expenses estimates (fixed expenses)
How we communicate?
5x weekly calls with our technical team (60 minutes).
Weekly PDF report with ideas, solutions, and proposals
We prepare for next steps
Prepare development plan from idea to manufacturing
Get a financial proposal for development
Show examples
Dave Asprey
40 Years of Zen
I worked with AJProTech to implement a ruggedized version of a brain-reading
device.
That was a lot of work to do! Working with the team has been a dream. What I
found
was they were easy to work with, they got it done fast, and it works. I'm using
this
on billionaires to read their brain waves and make their brains better. Thank
you,
AJProTech!
Jessy Easdon
Win Reality
Last year, we partnered with AJProTech, and it has been a
great decision for us. One of the big highlights is the knowledge they bring in
any
industry. Another significant aspect of our collaboration is the development of
multiple products that we plan to introduce to customers in the next year or
two. We
are really excited about the connection and assistance AJProTech has brought.
William Cliff
Asesso Health
The experience, along with the collaboration between the
two
of us, has been exceptional. It has been brilliant, beautiful, and precise, all
at a
very reasonable cost. The budget has been on point, so you can't go wrong.
Troy Anderson
Sound Oasis
I'm very happy working with AJProTech. They have very deep
base of skills and experience, are very organized, and produce high-quality
work.
Frequently asked questions
At AjProTech, the main idea of a feasibility study is to evaluate the viability of a proposed project or idea. This involves assessing various factors such as technical, economic, legal, and operational aspects to determine whether the project is worth pursuing. The goal is to identify potential challenges and risks, ensuring that the project can be successfully completed within the given constraints.
A practical example of a feasibility study at AjProTech could be the evaluation of a new product development project. For instance, if we plan to develop a new IoT device, a feasibility study would analyze market demand, technological requirements, cost estimates, potential revenue, and legal implications. This comprehensive assessment helps us decide if the project should proceed to the next stage.
At AjProTech, a comprehensive feasibility study includes several key points:
- Technical Feasibility: Can we build it with the current technology and resources?
- Economic Feasibility: Is it financially viable?
- Legal Feasibility: Are there any legal obstacles?
- Operational Feasibility: Will it function effectively within our organization?
- Market Feasibility: Is there a demand for this project in the market?
- Schedule Feasibility: Can we complete it within the desired timeframe?
Explaining the feasibility of a project at AjProTech involves presenting a detailed analysis of the project's viability. This includes outlining the objectives, conducting a thorough assessment of resources, costs, and benefits, and addressing potential risks. The explanation should highlight why the project is practical, sustainable, and beneficial for the company.
Writing a good feasibility study at AjProTech involves several steps:
- Define the Project Scope: Clearly state the project objectives and goals.
- Conduct a Preliminary Analysis: Identify the project's requirements and constraints.
- Evaluate Alternatives: Consider different approaches to achieving the project's goals.
- Analyze Costs and Benefits: Assess the financial implications and potential returns.
- Review Technical Requirements: Ensure the technical feasibility of the project.
- Assess Risks: Identify and evaluate potential risks and mitigation strategies.
- Make Recommendations: Provide a clear conclusion and recommendation based on the analysis.
At AjProTech, the most important part of a feasibility study is the financial analysis. This section determines whether the project is economically viable by evaluating costs, potential revenue, and return on investment. Without a solid financial foundation, even the most technically feasible project may not be sustainable in the long run.
The cost of a feasibility study at AjProTech varies depending on the project's complexity and scope. While there is an investment involved, conducting a feasibility study is crucial as it helps prevent costly mistakes in the future. It ensures that resources are wisely allocated and increases the likelihood of project success.
Conducting a feasibility study at AjProTech involves the following steps:
- Define the Project: Clearly outline the project objectives and scope.
- Research and Gather Data: Collect relevant information and data on market conditions, technical requirements, and financial aspects.
- Analyze the Data: Evaluate the technical, economic, legal, and operational feasibility.
- Identify Potential Challenges: Assess risks and develop mitigation strategies.
- Prepare a Report: Summarize findings and provide recommendations based on the analysis.
- Review and Refine: Review the study with stakeholders and refine it based on feedback.
At AjProTech, a feasibility study should be conducted before committing significant resources to a project. This typically occurs in the early planning stages when the project idea is being evaluated. Conducting a feasibility study early on helps ensure that the project is viable and aligns with the company’s strategic goals before proceeding with development and implementation.
