The paper discusses the development of computer software designed to serve as an initial screening tool for conducting preliminary feasibility studies of Combined Heat and Power (CHP) systems for customer loads utilizing process steam. CHP, also referred to as cogeneration or tri-generation, is a promising solution for many process industries. However, the feasibility of CHP implementation depends on several economic and process-related factors such as equipment costs, plant system size, fuel costs, backup power, power demand, heat demand, and process steam pressure and temperature levels. When most of these factors fall within the upper range, the feasibility of implementing CHP improves significantly. Conversely, if these factors are in the lower range, the feasibility may be less favorable. The proposed software based approach in this paper provides substantial value to practicing engineers by establishing optimal CHP parameter ranges through a comprehensive feasibility study. For any given industry, when input data such as heat demand, power demand, steam cost, electricity tariff, the capacity of the proposed turbine generator (TG) set, and the enthalpy of turbine input and exhaust steam are provided, the program calculates the total expenditure with and without cogeneration for both electrical and steam tracking modes. It then outputs the percentage savings, cost-benefit ratios, and the economically viable size of the turbine generator set suitable for cogeneration in the specified industry. Additionally, the software indicates whether cogeneration is feasible for the given load pattern.