Cavendish has previously stated his goals for 2016 are the Tour, the Olympics and the World Championships road race, but with such little time between the first two the challenge is made all the harder.
Wiggins, who is riding at the Dubai Tour with Cavendish, says the Dimension Data may have taken on a bit too much.
"I have seen Mark a lot this winter. He has hardly been home since October," Wiggins said, quoted on Sky Sports. "I have seen him come and rent an apartment in Manchester and come and train on the track with us every day.
"I admire what he is trying to do, but he has probably taken a bit too much on, really. It remains to be seen whether he can do it all, but if anyone can, it's probably him."
Watch Sir Bradley Wiggins overtake his minute man at the Hull 10-mile time trial
Wiggins's former Team Sky colleague Elia Viviani will be one of Cavendish's rivals for omnium gold, should the Manxman be selected for the Olympics.
Viviani has previously said that the Tour and Olympics are not compatible, and Wiggins agrees, saying Cavendish could focus solely on the track given his already long list of accomplishments on the road.
"With his results [on the road], he could probably just come on the track full-time and ride with Team WIGGINS if he wanted to," Wiggins added.
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