What is feasibility study? Explain its types.

Q)What is feasibility study? Explain its types.

Feasibility study:-
                       It is the measure and the study of how beneficial the development of the system would be to the organization. This is known as feasibility study. The aim of the feasibility study is to understand the problem and to determine whether it is worth proceeding.
It has following types.

1.Technical feasibility: - This is concerned with availability of hardware and software required for the development of system.The issues with can be like:
1.1) Is the proposed technology proven and practical?
1.2)the next question is: does the firm possess the necessary technology it needs. Here we have to ensure that the required technology is practical and available. Now, does it have required hardware and software?
1.3)The Last issue is related to availability of technical expertise. In this case, software and hardware are available but it may be difficult to find skilled manpower.
2.Operational feasibility:- It is all about problems that may arise during operations. There are two aspects related with this issue:
2.1) what is the probability that the solution developed may not be put to use or may not work?
                                   2.1) what is the inclination of management and end users towards solutions?
Besides these all some more issues;
                                                           a) Information: saying to provide adequate, timely, accurate and useful information to all categories of users.
                                                       b) Response time, it says about response about output in very fast time to users.
                                            c) Accuracy: A software system must operate accurately. It means, it should provide value to its users. It says degree of software performance.
           d) Services:- The system should be able to provide reliable services.
             e)Security:- there should be adequate security to information and data from frauds.
f) Efficiency: The system needs to be able to provide desirable services to users.
3) Economic feasibility: - It is the measure of cost effectiveness of the project. The economic feasibility is nothing but judging whether the possible benefit of solving the problem is worthwhile or not. Under "cost benefit analysis", there are mainly two types of costs namely, cost of human resources and cost of training.
                                                             The first one says about salaries of system analysts, software engineers, programmers, data entry operators etc. whereas 2nd one says about training to be given to new staffs about how to operate a newly arrived system.

4) Legal feasibility: - It is the study about issues arising out the need to the development of the system. The possible consideration might include copyright law, labor law, antitrust legislation, foreign trade etc.
Apart from these all we have some more types:
behaviour feasibility, schedule feasibility study etc.

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