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So how does a Feasibility Study work?

The following is a walk through of a fictional feasibility study and is intended to illustrate how the process works.

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The Technology Strategy Board is a Non Departmental Public Body established by the UK government in 2007. The vision of the Technology Strategy Board is summarised in this extract from their web site:
 
"For the UK to be a global leader in innovation and a magnet for innovative businesses, who can apply technology rapidly, effectively and sustainably to create wealth and enhance quality of life."