The objective of the Feasibility Design phase is to assess if the proposed project or solution is technically and economically feasible.
Hence this is a very critical step in the project execution that determines if a project will be pursued further or not.
The key deliverables of the feasibility design phase includes:
1. Preliminary Process Flow Diagrams (PFDs)
The block flow diagram prepared in the Conceptual Design Phase is further developed into Process Flow diagrams in this phase by adding more details to the various blocks and showing all major equipment in the process.
2. Process Simulation and Material and Energy Balances
An overall process simulation is typically developed in this phase depicting the process technologies chosen for the various sections of the process. From the simulation model, an overall heat and material balance is generated which provides a basis for the preliminary equipment design.
3. Site Selection and Plot Plan Development
The site to be used for the project will be determined in this phase and the required plot layout developed. Consideration for supply of major utilities such as raw water and power are also given at this stage.
4. Preliminary Equipment Design
Preliminary sizing, design parameters, and selection of major equipment such as reactors, distillation columns, heat exchangers, and compressors is carried out in this phase.
5. Project Economics
Typically, a Class 4 or Class 5 cost estimate, with a defined accuracy range (e.g., ±30-50%) is prepared in this phase along with a high level estimate of the operating expenses. Based on the CAPEX and OPEX estimates, the financial viability of the project is assessed using parameters such as Internal Rate of Return (IRR), Cash flow analysis, Net Present Value (NPV) and payback period.
6. Preliminary Project Schedule
A high-level schedule showing key milestones, phases of the project, major deliverables and critical path for project execution is developed.
7. Risk Assessment
A risk registry is prepared which is a list of identified risks, their likelihood, and potential impact on the project. Risk mitigation strategies are also included in this registry.
8. Environmental and Regulatory Review
In this phase, preliminary environmental impact assessment, identification of required permits and approvals, compliance with local regulations, and initial strategies for waste management, emissions control, and environmental protection are developed.
9. Utility Summary and infrastructure needs
A summary of all utilities (water, electricity, gas, etc.), infrastructure needs (roads, communications, waste treatment), and their availability at the proposed site, are developed.
10. Technology Screening and Selection
The various available technologies for the process are evaluated for technology readiness and cost and a recommendation of the best technology for the process is made in this phase.
11. Hazard Identification
A Preliminary hazard identification (HAZID) is carried out to identify critical hazards in the process and to come up with mitigation factors in the design.