What is the significance of feasibility study in sdlc

Technical feasibility assesses the current resources such as hardware and software and technology, which are required to accomplish user requirements in the software within the allocated time and budget. For this, the software development team ascertains whether the current resources and technology can be upgraded or added in the software to accomplish specified user requirements.

Technical feasibility also performs the following tasks. Operational feasibility assesses the extent to which the required software performs a series of steps to solve business problems and user requirements. This feasibility is dependent on human resources software development team and involves visualizing whether the software will operate after it is developed and be operative once it is installed.

Operational feasibility also performs the following tasks. Economic feasibility determines whether the required software is capable of generating financial gains for an organization. It involves the cost incurred on the software development team, estimated cost of hardware and software, cost of performing feasibility study, and so on.

For this, it is essential to consider expenses made on purchases such as hardware purchase and activities required to carry out software development. In addition, it is necessary to consider the benefits that can be achieved by developing the software.

Software is said to be economically feasible if it focuses on the issues listed below. Feasibility study comprises the following steps. It also verifies that the system can be implemented using new technology and within the budget and whether the system can be integrated with the existing system. Generally, these sources include users who will operate the software , organization where the software will be used , and the software development team which understands user requirements and knows how to fulfill them in software.

Considered the solutions before the hardware and software selection impact. Once the final checkpoint is completed, all the complexity of the solution should be apparent.

Four Tests For Feasibility Operational feasibility Measure the urgency of the problem or the acceptability of a solution. Aspects of operational feasibility Is the problem worth solving Will the solution to has problem work Political acceptability Technical feasibility can only be evaluated after the technical issues are resolved issues IS the prepared technology practical?

Do we currently process the necessary technology and time? Schedule feasibility -To measures the reasonable project timetable. Issues Are the deadlines mandatory or desirable? Scope can change if time Longer Careful if mandatory Scope no change Missed Schedules are bad, inadequate systems are worse! Are the project deadlines reasonable? Economic feasibility To measure the cost-effectiveness of a project or solution. Which is often called cost-benefit analysis. Costs are impossible to estimate before requirements and technical solutions have been identified.

Benefits are easier to determine at an early stage. The alternative solution can be evaluated according to four criteria: operational, technical, schedule, and economic feasibility. What benefits will the system provide?

Intangible Benefits -Benefits believed to be difficult or impossible to quantify -Example: Improved employee morals, better service to community And decision making. Is the prepared system cost-effective? All costs and benefits do not occur instantaneously. In reality, costs and benefits are distributed overtime.

Head to take into account time value of money. Three commonly used technique Payback analysis. Return on investment. Net present value. Feasibility study is carried out based on many purposes to analyze whether software product will be right in terms of development, implantation, contribution of project to the organization etc.

Types of Feasibility Study : The feasibility study mainly concentrates on below five mentioned areas. Among these Economic Feasibility Study is most important part of the feasibility analysis and Legal Feasibility Study is less considered feasibility analysis.

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