Feasibility Study
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1.2 Feasibility Study
An analysis and evaluation of a proposed project to determine if it (1) is technically feasible, (2) is feasible within the estimated cost, and (3) will be profitable. Feasibility studies are almost always conducted where large sums are at stake. Also called feasibility analysis. A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it? The feasibility report of the project holds the advantages and flexibility of the project. This is divided into four sections:
Technical Feasibility
Economical Feasibility
Operational Feasibility
Behavioral Feasibility
1.2.1 Economic Feasibility
A systems financial benefit must exceed the cost of developing that system. ie. a new system being developed should be a good investment for the organization. Analysis of a projects costs and revenues in an effort to determine whether or not it is logical and possible to complete. Economic feasibility considers the following
i. The cost to conduct a full system investigation.
ii. The cost of hardware and software for the class of application.
iii. The benefits in the form of reduced cost or fewer costly errors.
iv. The cost if nothing changes (i.e. The proposed system is not developed).
1.2.2 Technical Feasibility
Technical feasibility centres on the existing computer system (H/W and S/W) whether it can support the addition of proposed system, if not, to what extent it can support and the organizations capacity to acquire additional components.
Our proposed system is technically feasible because
The H/W and S/W required are easy to install and handle.
(2) The necessary H/W configuration and software platform is already there.
(3) The proposed system is technically feasible.
1.2.3 Operational Feasibility
Operational feasibility determines how much effort will go in the proposed information system, and in educating and training the employees on the new system, along with the new ways of conducting the business. Operational study strives on ensuring that