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Feasibility Study

The document discusses the key aspects and objectives of conducting a feasibility study for a proposed project. A feasibility study determines if a given solution can effectively address an identified problem by analyzing five factors: technology, economic, legal, operational, and schedule feasibility. The study aims to answer if the proposed idea is viable and worth pursuing before significant expenses are incurred. If deemed feasible, the study will produce a final report outlining the project details, expected benefits, resource requirements, and consequences of rejection.

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Sanjana Cholke
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322 views

Feasibility Study

The document discusses the key aspects and objectives of conducting a feasibility study for a proposed project. A feasibility study determines if a given solution can effectively address an identified problem by analyzing five factors: technology, economic, legal, operational, and schedule feasibility. The study aims to answer if the proposed idea is viable and worth pursuing before significant expenses are incurred. If deemed feasible, the study will produce a final report outlining the project details, expected benefits, resource requirements, and consequences of rejection.

Uploaded by

Sanjana Cholke
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Feasibility Study

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Feasibility Study

 A Feasibility Study is the analysis of a problem to


determine if it can be solved effectively.
 The results determine whether the solution should be
implemented.
 This activity takes place during the project initiation
phase and is made before significant expenses are
engaged.

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Definition of Feasibility
Studies
 A feasibility study is an evaluation of a proposal
designed to determine the difficulty in carrying out a
designated task. Generally, a feasibility study precedes
technical development and project implementation.

 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?

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Objective

 The feasibility study answers the basic questions: is it


realistic to address the problem or the opportunity
under consideration?
 And it produce a final proposal for the management,
this final report might includes:

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Feasibility includes

1. Project name
2. Problem or opportunity definition
3. Project description
4. Expected benefit
5. Consequence of rejection
6. Resource requirements

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Five ,factors in FEASIBILITY

1. Technology and system feasibility


2. Economic feasibility
3. Legal feasibility
4. Operational feasibility
5. Schedule feasibility

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1. Technology and system
feasibility

 The assessment is based on an outline


design of system requirements in terms of
Input, Processes, Output, Fields,
Programs, and Procedures. This can be
quantified in terms of volumes of data,
trends, frequency of updating, etc. in
order to estimate whether the new
system will perform adequately or not
this means that feasibility is the study of
the based in outline.
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2. Economic feasibility

 Economic analysis is the most frequently used


method for evaluating the effectiveness of a new
system. More commonly known as
cost/benefit analysis, the procedure is to determine
the benefits and savings that are expected from a
candidate system and compare them with costs. If
benefits outweigh costs, then the decision is made to
design and implement the system. An entrepreneur
must accurately weigh the cost versus benefits
before taking an action.

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3. Legal feasibility

 Determines whether the proposed system conflicts with


legal requirements, e.g. a data processing system must
comply with the local Data Protection Acts.

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4. Operational feasibility

 Is a measure of how well a proposed system solves the


problems, and takes advantages of the opportunities
identified during scope definition and how it satisfies
the requirements identified in the requirements analysis
phase of system development

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5.schedule feasibility
 A project will fail if it takes too long to be completed before it is
useful. Typically this means estimating how long the system will take
to develop, and if it can be completed in a given time period using
some methods like payback period. Schedule feasibility is a measure of
how reasonable the project timetable is. Given our technical expertise,
are the project deadlines reasonable? Some projects are initiated with
specific deadlines. You need to determine whether the deadlines are
mandatory or desirable.

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Other feasibility factors

 Market and real estate feasibility


 Resource feasibility
 Cultural feasibility

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Market and real estate
feasibility

 Market Feasibility Study typically involves testing


geographic locations for a real estate
development project, and usually involves parcels
of real estate land. Developers often conduct
market studies to determine the best location
within a jurisdiction, and to test alternative land
uses for a given parcels. Jurisdictions often
require developers to complete feasibility studies
before they will approve a permit application for
retail, commercial, industrial, manufacturing,
housing, office or mixed-use project. Market
Feasibility takes into account the importance of
the business in the selected area.
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Resource feasibility

 This involves questions such as how much time is


available to build the new system, when it can be built,
whether it interferes with normal business operations,
type and amount of resources required, dependencies,
etc. Contingency and mitigation plans should also be
stated here.

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Cultural feasibility

 In this stage, the project's alternatives are evaluated for


their impact on the local and general culture. For
example, environmental factors need to be considered
and these factors are to be well known. Further an
enterprise's own culture can clash with the results of
the project.

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