How do you assess the feasibility of different concepts in FEED?

1 Identify the criteria

The first step in assessing the feasibility of different concepts is to identify the criteria that will guide your decision. These criteria can be based on various factors, such as performance, reliability, safety, environmental impact, regulatory compliance, cost, schedule, operability, maintainability, and stakeholder preferences. You should define these criteria clearly, assign them weights or priorities, and establish the minimum and maximum acceptable values for each one.

2 Generate and screen the concepts

The next step is to generate and screen the concepts that can potentially meet your criteria. You can use various techniques to generate concepts, such as brainstorming, benchmarking, reverse engineering, morphological analysis, or functional decomposition. You should aim to generate as many diverse and creative concepts as possible, without limiting yourself by feasibility or practicality at this stage. Then, you can screen the concepts by applying some basic filters, such as technical feasibility, alignment with project objectives, and elimination of duplicates or inferior options.

3 Evaluate and compare the concepts

The third step is to evaluate and compare the concepts based on your criteria. You can use various methods and tools to do this, such as qualitative analysis, quantitative analysis, or hybrid analysis. Qualitative analysis involves using descriptive or ordinal scales, such as yes/no, high/medium/low, or good/fair/poor, to rate the concepts against each criterion. Quantitative analysis involves using numerical or ratio scales, such as dollars, hours, kilograms, or percentage points, to measure the concepts against each criterion. Hybrid analysis involves using a combination of qualitative and quantitative scales, such as scoring matrices, decision trees, or multi-criteria decision analysis (MCDA), to rank the concepts based on their overall performance.

4 Optimize and select the concept

The final step is to optimize and select the concept that best satisfies your criteria and maximizes your value. You can use various techniques to optimize your concept, such as sensitivity analysis, trade-off analysis, or design of experiments (DOE), to identify the optimal parameters, variables, or configurations of your concept. You can also use various tools to select your concept, such as cost-benefit analysis, risk analysis, or value engineering, to justify your choice and demonstrate its advantages over the alternatives.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?