What is feasibility study why it is used ? and Different types of feasibility study.

what is feasibility study? what are the different types of feasibility study?, what are different levels of feasibility study, what purpose feasibility study used

What is feasibility study why it is used ? and Different types of feasibility study.The process of analyzing whether the proposal is feasible or not is called feasibility analysis. if it is not feasible, we need to look after other alternatives. Feasibility study mainly focuses on the demand of the system that affects the overall development of the information system.
It is an assessment of the practicality of a proposed plan or method. Which helps to find the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success.

Feasibility study is used for...,

  1. To determine whether the objectives stated in the assignment brief are reasonably attainable within the limitation and financial constraints period.
  2. To define major problem areas, so that the system analyst can plan the strategy for the field investigation. 
  3. To find areas where potential exists for making saving in money, time or effort. 
  4. To determine the approximate time required for the full investigation and cost. 
  5. To discover the areas where some specialist knowledge needed for the full investigation. 
There are different types of feasibility study... which are explained below,
  • Technical feasibility
  • Economical feasibility
  • Operational feasibility
  • Schedule feasibility

Technical feasibility

It measure of the availability of technical resources (hardware components or technical equipment). It also studies the availability of the technical manpower for the project. [ if the work performances of the technical manpower are not experienced, the entire system will be certainly insufficient.]

Economical feasibility

Economical feasibility measures whether finances (investments) are available for proposed solution, i.e. it looks at the financial aspects (cost/ effectiveness) of the project. This is often called a cost-benefit analysis. 

Operational feasibility

It is a measure of how well the solution of problems or a specific alternative solution will work in the organization. It is also measure of how people feel about the system. If the system is not easy to operate, than operational process would be difficult. The operator of the system should be given proper training. The system should be made such that the user can interface the system without any problem.

Schedule feasibility

If a deadline (time-limit) is established, it is called schedule feasibility, i.e the deadline of the project is studied under the scheduled feasibility. The scheduled feasibility is also depends upon available manpower and economical condition as well. 

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