A Feasibility Study examines the viability of taking on a project. In terms of building or construction projects, a Feasibility Study takes place during the initiation phase or preplanning phase and is made before significant expenses are incurred. The anticipated and essential technical and economic aspects of a proposed project are thoroughly investigated and clearly defined. Using this overall information resource, a Feasibility Study will determine if the project in question can be accomplished within the schedule, budget, operation, and legal framework established for the project. Conclusions and recommendations of the findings will assist an owner or client in deciding to pursue a particular project, and if pursued, a Feasibility Study can be used as one tool to make appropriate financing arrangements.