Feasibility Studies

A feasibility study is quite important phase in which high management decides on the feasibility report that whether or not the proposed system is worthwhile.

Types of Feasibility Study

The feasibility study mainly concentrates on below five mentioned areas. Among these Economic Feasibility Study is most important part of the feasibility analysis and Legal Feasibility Study is less considered feasibility analysis.

Technical Feasibility

In Technical Feasibility current resources both hardware software along with required technology are analyzed/assessed to develop project. This technical feasibility study gives report whether there exists correct required resources and technologies which will be used for project development. Along with this, feasibility study also analyzes technical skills and capabilities of technical team, existing technology can be used or not, maintenance and up-gradation is easy or not for chosen technology etc.

Operational Feasibility

In Operational Feasibility degree of providing service to requirements is analyzed along with how much easy product will be to operate and maintenance after deployment. Along with this other operational scopes are determining usability of product, Determining suggested solution by software development team is acceptable or not etc.

Economic Feasibility

In Economic Feasibility study cost and benefit of the project is analyzed. Means under this feasibility study a detail analysis is carried out what will be cost of the project for development which includes all required cost for final development like hardware and software resource required, design and development cost and operational cost and so on. After that it is analyzed whether project will be beneficial in terms of finance for organization or not.

Legal Feasibility

In Legal Feasibility study project is analyzed in legality point of view. This includes analyzing barriers of legal implementation of project, data protection acts or social media laws, project certificate, license, copyright etc. Overall it can be said that Legal Feasibility Study is study to know if proposed project conform legal and ethical requirements.

Schedule Feasibility

In Schedule Feasibility Study mainly timelines/deadlines is analyzed for proposed project which includes how many times teams will take to complete final project which has a great impact on the organization as purpose of project may fail if it can’t be completed on time.