After finishing all my courses in University, i plan to do Feasibility Study on some business development for my Master Project. But i confuse a bit on what it really means and how to start.
Then i start to study more on Feasibility Study and here i would like to share what i have noted if you are confusing on this study as well and hope it is helpful.
The meaning of "Feasibility Study" is analysis or research into the practicality of a proposed plan or method, based on factors like marketplace, competition, available technology, manpower, and financial resources.
How to do Feasibility study systems analysis?
As "Feasibility Study" is part of the systems development life cycle which aims to determine whether it is sensible to develop some system, we can analyze through the most popular model of feasibility study which is "TELOS", standing for Technical, Economic, Legal, Operational, Schedule.
Technical Feasibility: does the technology exist to implement the proposed system? Is it a practical proposition?
Economic Feasibility: is the system cost-effective? Do benefits outweigh costs?
Legal Feasibility: is there any conflict between the proposed system and legal requirements, e.g. the Data Protection Act?
Operational Feasibility: are the current work practices and procedures adequate to support the new system?
Schedule Feasibility: can the system be developed in time?
After we do the feasibility study, the requirements analysis should be carried out.
Good luck!
Then i start to study more on Feasibility Study and here i would like to share what i have noted if you are confusing on this study as well and hope it is helpful.
The meaning of "Feasibility Study" is analysis or research into the practicality of a proposed plan or method, based on factors like marketplace, competition, available technology, manpower, and financial resources.
How to do Feasibility study systems analysis?
As "Feasibility Study" is part of the systems development life cycle which aims to determine whether it is sensible to develop some system, we can analyze through the most popular model of feasibility study which is "TELOS", standing for Technical, Economic, Legal, Operational, Schedule.
Technical Feasibility: does the technology exist to implement the proposed system? Is it a practical proposition?
Economic Feasibility: is the system cost-effective? Do benefits outweigh costs?
Legal Feasibility: is there any conflict between the proposed system and legal requirements, e.g. the Data Protection Act?
Operational Feasibility: are the current work practices and procedures adequate to support the new system?
Schedule Feasibility: can the system be developed in time?
After we do the feasibility study, the requirements analysis should be carried out.
Good luck!
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