What is the purpose of Feasibility Study Discuss key areas-00518
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vu cs304 Object Oriented Programming.
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vu cs304 Mid Term Solved Past Paper No. 2.
Question 1: What is the purpose of Feasibility Study. Discuss key areas?
Answer:
Feasibility studies aim to objectively and rationally uncover the strengths and weaknesses of the existing business or proposed venture, opportunities and threats as presented by the environment, the resources required to carry through, and ultimately the prospects for 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 proposed projectCan 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 organization works 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 of working life?
- Reduction is job stress
- Job satisfaction
- Quality of output by employees
