Types of Feasibility Study
Introduction to Feasibility Studies
Feasibility study is one of the important phase in the development of a software. This step is taken once the developers gather all the requirements from the customer. All these requirements are studied and then a final list of requirements is made. As the client may or may not be technical person, they might give some requirements that are contradictory and may be vague. Therefore, it is important to analyze the requirements and conduct feasibility study. Writing and understanding this concept is not that difficult, still if there are some issue you can take Assignment Help USA, it will help you to get your assignment done and thereby understand it.
System analysis is a process of gathering & interpreting facts, identifying problems and decomposition of a system into its components. The main purpose of the system analysis is to study different systems or its parts for identifying the objectives of the system. System analysis is a problem-solving technique that helps in enhancing the system and ensuring that all the components of the system work efficiently for accomplishing their purpose. Analysis mainly helps in describing the tasks should be performed by the system (Diab, 2016). System analysis is a process that needs to be conducted before the development of a software. It is usually done by the system analyst. System analyst is a person that consults with the user or the clients and ask the customer about the requirements of their software and checks if they are feasible. After confirming all the details, they divide the work to their teams and the team work to meet the requirements of the client.
System design is a process that helps to plan a new business system or to replace an existing system by defining its modules or components for satisfying the specific requirements. System Design also focuses on methods for accomplishing the objective of the system. System Analysis and Design mainly focuses on - Technology, Systems, Processes. Mainly there are two types of system designs – logical design and physical design.
Logical System Design –Logical design of the system is designing the various components of the system. What all will be the inputs and outputs to the system, what or how the data will flow in the system. What procedures will be followed in it? all these questions are answered in logical system design. It is a virtual design based on which the physical designing of the system is done. Structured designing tools like Data Flow Diagrams (DFD), Entity Relationship Diagram (ER diagram), Decision Tree, etc. are used in logical designing of the system.
Physical System Design –In physical system design, the actual methods are implemented to form the system. The main focus is on how the inputs will enter the system, how they will be verified and the delivery of output to its destination. All the procedures and processes are design in the logical design of the system.
Feasibility and Feasibility study
Feasibility refers to the process that describes, identifies and evaluates the proposed system and selects the best system for proper functioning. For evaluating the feasibility, a feasibility study is conducted that helps in determining whether the system is possible to develop or not. There are three types of feasibility study, they are – technical feasibility, economical feasibility and behavioral feasibility. Studying all these feasibility helps the user and the developer to understand on what grounds their system will be made and what all features they can include in the software. The main purpose to conduct the feasibility study is to establish the reasons to develop the software that is accepted by all the users and can be modified easily as per the requirements (KENTON, 2018). Some of the objectives of the feasibility study are discussed below:
• To determine whether the newly developed software can be integrated with the software that exists already.
• To analyze whether that software has the potential to be implemented with the adoption of the current technology and within the specified schedule and budget.
• To determine whether the software is able to fulfill the requirements of the organization or a user.
Types of Feasibility
• Technical Feasibility: Technical feasibility helps in accessing the current resources as well as technology that is required for accomplishing the requirements of the user in the software within the allocated budget and time. Following tasks are performed in the technical feasibility:
Helps in determining whether the technology used is stable.
Is the technology being demanded available? Or can the features being requested are possible to embed with the current/ available technology
Analyze the technical capabilities and skills of the team members of software development (Palvia & Palvia, 2004).
Operational/ Behavioral Feasibility: Behavioral feasibility is studied in order to check, whether the human or employees in the business will use it or not. Operational feasibility relies on human resources and analyzes whether the software will operate after it is developed properly or not. Following tasks are performed by the operational feasibility:
Operational feasibility helps in determining whether the solution that is suggested by the team of the software development is acceptable or not.
Operational feasibility also helps in determining whether the problems that are anticipated in the user requirements are of high priority.
It checks that the software is user friendly or not.
Its interface should be simple so that everyone should be able to use it.
Helps to analyze whether the organization is satisfied by the alternative solutions provided by the team members of the software development (THAKUR, 2016).
Economic Feasibility: Economic Feasibility helps in determining whether the required software has the potential to generate financial gains for an organization. This type of study involves the cost incurred on the team of the software development, cost of study involved in conducting a feasibility study, estimated cost of software and hardware. Software can be considered to be feasible only if it focuses on the issues that are discussed below:
- The cost associated with the training, development team, software and hardware.
- Cost required for conducting software investigation such as requirements analysis and requirements elicitation.
- The cost incurred on the development of software for producing long-term gains for an organization.
- It is also studied that, can the software be made in the given budget? Because sometimes the clients want many features to add in their software but are not willing to pay the required amount. Hence, economic feasibility is used to study this.
It is the most important study that is used for measuring the success of the project. All the projects will fail, if not completed at specified time. In scheduling feasibility, an organization is able to estimate the time required for completing the project. The time that will be required for the development of the system, is estimated on the basis of the requirements. Once all these things are sorted, manpower is allocated their respective task and efforts are made to complete the task within the deadline.
Benefits of conducting a feasibility study:
- 1.Enhances the focus of the project team
- 2.Helps in identifying new opportunities
- 3.Provides valuable information for decision making
- 4.Narrows the alternatives of business
- 5.Enhances the rate of success by evaluating a number of parameters (Mukund, 2017).
- Diab, N. (2016). What are the main components of a feasibility study? - Bayt.com Specialties. Retrieved from https://specialties.bayt.com/en/specialties/q/277098/what-are-the-main-components-of-a-feasibility-study/
- KENTON, W. (2018). Feasibility Study. Retrieved from https://www.investopedia.com/terms/f/feasibility-study.asp
- (2017). Why a Feasibility Study is Important in Project Management. Retrieved from https://www.simplilearn.com/feasibility-study-article
- Palvia, P., & Palvia, S. (2004). The feasibility study in information systems: an analysis of criteria and contents. Information & Management, 14(5), 211-224. doi: 10.1016/0378-7206(88)90009-2
- THAKUR, D. (2016). What is Feasibility Study? Types of Feasibility. Explain Feasibility Study Process. Retrieved from http://ecomputernotes.com/software-engineering/feasibilitystudy
Now that we know what is feasibility study all about, you will be able to understand why it is important to study it and what are its different types. University assigns assignment to the students to write and conduct a feasibility study related to a project. You can check online for some examples and then start writing your assignment. You can take Assignment Help; it will also help you to write a good quality assignment.
What is a feasibility study?
A feasibility study is a study and assessment of the viability of a project and to ascertain the likelihood of success of the project. The feasibility study helps to determine the strengths and weaknesses of the proposed project by conducting a preliminary analysis, marketing survey, staffing requirements, etc.
What is feasibility study report?
The feasibility study report is a formal document that outlines the output of feasibility study and summarizes the results of the preliminary analysis and evaluations to further determine if the project is really feasible and profitable.
How to write a feasibility study
The feasibility study is written by describing the project, outlining the potential solutions, listing the criteria for evaluation and identifying the feasibility of the project. Then, a brief conclusion statement is prepared regarding the selection and feasibility of the project.