Chapter 6 What is Feasibility Study and Types Explain in Details

CHAPTER -6

FESIBILITY STUDY

Introduction :- Hi everyone in this chapter learn  details, What is Feasibility study and why is an important and where is use. Lets go start now.

Feasibility Study :- As the name suggests feasibility study is a study to reveal whether a project is feasible or not.

It is conducted in order to find answers to following questions:-

 

a.)    Do we have required resources and technologies to build the projects.

b.)    Do we want profit from the project.

c.)    It tells us whether a projects is worth the investment.

d.)    After the feasibility study, the project may be accepted with modifies or rejected.

 

Types of feasibility :- There are five types of feasibility.

1.)    Technical Feasibility :-In technical feasibility , we check whether we have required resources (like hardware and software) to develop the projects. This feasibility study also analyse technical skill and capabilities of technical of technical teams, existing technology can be used or not, maintenance and up-gradation is easy or not for chosen technology etc.

 

2.)    Economical Feasibility :- In economic feasibility study, cost and benefits of the projects is analyzed. In this feasibility study a details analysis is carried out to known what be the projects  including hardware and software resources required, design and developments cost and so on. It is also analysed whether projects will be benefits for organization  or not.

 

3.)    Legal Feasibility :- In this feasibility study we investigate whether the projects is legal or not. It is followed according to the whether the governments otherwise in legal.

 

4.)    Operating feasibility :-  In operational feasibility study, we examine whether the project satisfiers the requirements identified in the requirements analyzed phase.

5.)    Scheduling Feasibility :- In scheduling feasibility study, we estimate the time necessary to complete the projects. We also consider the organization’s capabilities and determines whether that of time is available or not.

 

Importance of feasibility Study :-

a.)    Get a clear – cut idea of whether the project is likely to be successfully, before allocating budget, manpower and times.

b.)    Improved projects teams focus.

c.)    Provides valuable information for a go/ no -go decision at hand.

d.)    Identifiers a valid reason to undertake the projects. Diagnoses errors and aids in troubleshooting them.

e.)    Enhances the success rate by evaluating multiple parameters.