Need of Feasibility Study

NEED OF FEASIBILITY STUDY

Feasibility study has to be measured against time and cost constraints that every project in every organization bound to have. Basically, a feasibility study is done to find out whether for the system that it is proposed, it will be :

➢ Possible

➢ Affordable

➢ Acceptable

Feasibility Study is carried out to select the best system that meets performance requirements. This entails identification, description and evaluation of candidate system and selection of the best system for the job.

Different Types of Feasibility

Feasibility study has to begin with the issues on hand, including the various organizational factors that may impact. the system. This is followed by looking at the proposed system from various angles to figure out whether it is worth pursuing the project further or not.

Below are the six categories of feasibility tests:

  • Operational feasibility is the measure of how well a solution meets the identified system requirements to solve the problems and take. advantage of the opportunities envisioned for the system.
  • Cultural (or political) feasibility is a measure of how people feel about a solution and how well it will be accepted in a given organizational climate.
  • Technical feasibility is a measure of the practicality of a specific technical solution and the availability of technical resources and expertise to implement and maintain it.
  • Schedule feasibility is a measure of how reasonable the project timetable is.
  • Economic feasibility is a measure of the cost effectiveness of a project or
  • Legal feasibility is a measure of how well a solution can be implemented within existing legal and contractual obligations.

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