Feasibility Study:
Feasibility is a process that identifies , describes and
evaluates proposed system and selects the best system for the job. During the
study, the problem definition is solved and all aspects of problem to be
included in the system are determined. Size of project, cost and benefits are
also estimated with greater accuracy. The result of feasibility study is simply
a report which is a formal document detailing the nature and scope of the
proposed solution.
Types-
1. Legal feasibility
2. Economical feasibility
3. Technical feasibility
4. Operational feasibility
legal feasibility is all about checking that it is doable in the eye of law and follow all constitutional law, social norms.
2. Economical feasibility:
The purpose of assessing economical feasibility is to identify the financial benefits and cost associated with the development of the system. Economic feasibility is often known as the cost benefit analysis. To carry out an economical feasibility study it is necessary to estimate actual money value against activities needed for implementing the system.
It determines whether the technology needed for the proposed system is available and how it can be integrated within the organization. Technical evaluation must also assess whether the staff have technical expert to understand and use the new technology.
2.
3. Operational feasibility:
It is concerned with human, organizational and political
aspects.
It includes two ways–
i. Technical performance:
It includes issues such as whether the system can provide
the right information for organization's personnel at right time and right
place.
ii. Acceptance within the
organization:
Scheduling feasibility:
In scheduling feasibility study we estimate the time required to finish a project and that required time is available or not.
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