Finite element modeling is generally a cost-effective way to design a prototype.
Although an empirical testing (e.g. modal analysis testing and dynamic response
measurements) has to be performed to verify the results, a FEA model provides a fairly
reliable account of how a structure or a component will behave under stress.
Things as big as a building structure and as small as a component of a measurement
device can be modeled with sufficient accuracy and with reasonable assumptions.