Feasibility Study and its types Explained


Feasibility Study

The study which involves the analysis of the problem and collection of all relevant information relating to the product to select the best system that meets performance requirements is called as feasibility study.

  • The main aim of the feasibility study activity is to determine whether it would be financially and technically feasible to develop the product.
  • Analyzes whether the software will meet organizational requirements.
  • Determines whether the software can be implemented using the current technology and within the specified budget and schedule.
  • Determines whether the software can be integrated with other existing software.
  • In this phase, the development team visits the user and studies their system.
  • They investigate the need for development in the given system.
  • The crucial purpose of this phase is to find the need and to define the problem that has to be solved.
  • By the end of the feasibility study, the team furnishes a document that holds the different specific recommendations for the candidate system.

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Topics under feasibility study:

The various topics included under feasibility study are:

  1. Technical Feasibility

  • Concerned with specifying equipment and software that will successfully satisfy the user requirement.
  • Technical needs of the system may vary considerably, but might include :
    • The facility to produce outputs in a given time.
    • Response time under certain conditions.
    • Ability to process a certain volume of transaction at a particular speed.
    • Facility to communicate data to distant locations.
  • In examining technical feasibility, configuration of the system is given more importance than the actual make of hardware.
  • The configuration should give the complete picture about the system’s requirements.

  1. Social Feasibility

  • Consideration of whether the proposed system would prove acceptable to the people who would be affected by its introduction.
  • Describe the effect on users from the introduction of the new system considering whether there will be a need for retraining the workforce.
  • Describe how you propose to ensure user co-operation before changes are introduced.

  1. Economic Feasibility

  • Economic analysis is the most frequently used technique for evaluating the effectiveness of a proposed system.
  • More commonly known as Cost / Benefit analysis, the procedure is to determine the benefits and savings that are expected from a proposed system and compare them with costs.
  • If benefits outweigh costs, a decision is taken to design and implement the system.
  • Otherwise, further justification or alternative in the proposed system will have to be made if it is to have a chance of being approved.
  • An outgoing effort that improves in accuracy at each phase of the system life cycle.

  1. Legal Feasibility

  • This is mainly related to human organizational and political aspects.
  • Studies are carried out based on the legal perception.
  • The political situation and the constitution of the country should be taken into consideration while performing the legal feasibility.

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A Soon-to-be Computer Engineer by profession, he has profound devotion to add Data Scientist as a prefix to his name. He’s been to the nooks of the web (at least of the surface web) and planning to add some real figures in his pocket!

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