Feasibility Study

Satisfactory Essays
The Feasibility Study The Feasibility study is an analysis of possible alternative solutions to a problem and a recommendation on the best alternative. It can decide whether a process be carried out by a new system more efficiently than the existing one. The feasibility study should examine three main areas; - market issues, - technical and organizational requirements, - financial overview. The results of this study are used to make a decision whether to proceed with the project, or table it. If it indeed leads to a project being approved, it will - before the real work of the proposed project starts - be used to ascertain the likelihood of the project's success. • A feasibility study should provide management with enough information to decide: 1. Whether the project can be done; 2. Whether the final product will benefit its intended users; 3. What are the alternatives among which a solution will be chosen (during subsequent phases)? 4. Is there a preferred alternative? Content of a feasibility study Things to be studied in the feasibility study: • The present organizational system • Stakeholders, users, policies, functions, objectives... • Problems with the present system • Inconsistencies, inadequacies in functionality, performance • Possible solution alternatives Sticking with the current system" is always an alternative • Different business processes for solving the problems • Different levels/types of computerization for the solutions • Advantages and disadvantages of the alternatives Needs Analysis A needs analysis should be the first undertaking of a feasibility study as it clearly defines the project outline and the clients' requirements. Once these questions have been answered the person/s undertaking the feasibility study will have outlined the project needs definition. The following questions need to be asked to define the project needs definition: What is the end deliverable? What purpose will it serve? What are the environmental effects? What are the rules and regulations? What standards will we be measured against? What are the quality requirements? What is the minimal quality requirements allowed? What sustainability can we expect? What carry over work can we expect? What are the penalty clauses? How much do we need to outsource? How much do we need to insource? Types of Feasibility The feasibility study includes complete initial analysis of all related system. Therefore the study must be conducted in a manner that will reflect the operational, economic as well as technical and scheduling feasibility of the system proposal. These are the four main types of feasibility study. Operational This aspect defines the urgency of the problem and the acceptability of any solution. It shows if the system is developed, will it be used.
Get Access