Discuss the purpose of Feasibility Study Discuss key areas-02354
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vu mth718 Topics in Numerical Methods.
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vu mth718 Mid Term Solved Past Paper No. 7.
Feasibility studies aim to objectively and rationally uncover the strengths and weaknessesof the existing business or proposed venture, opportunities and threats as presented bythe environment, the resources required to carry through, and ultimately the prospectsfor success.
Key Areas of Feasibility
Following aspects/criteria can be covered in a feasibility study.
Technical Feasibility - is the available technology sufficient to support the proposedprojectCan the technology be acquired or developed?
Response times - time between request and execution
Volume of transactions, which can processed within the given time
Capacity to hold files or records of a certain size
Number of users supported without execution
Operational Feasibility - compliance and adjustability with the way organizationworks with attitude to change or chains of command.
Can the input data be collected for the system?
Is the output usable?
Economic feasibility - Do the benefits of the system exceed the costs?
It should be the BEST OPTION among those under consideration for the same purpose.
Behavioral feasibility - What impact will the system have on the user's quality ofworking life?
