Feasibility study is defined as the practical extent to which a project can be performed successfully. To evaluate feasibility, a feasibility study is performed, which determines whether the solution considered to accomplish the requirements is practical and workable in software. Information such as resource availability, cost estimation for software development is considered during feasibility study. Various other feasibility study objective is listed below:
- To analyze whether the software meets organizations requirements or not.
- To determine whether the software implemented using latest technology and under the budget of not.
- To determine whether the software can be integrated with other software or not.
Types of Feasibility
- Technical Feasibility : – This accesses the current resources such as hardware and software, technology, which is required to accomplish the user requirement within time and budget. Following are the tasks perform by technical feasibility: –
- Analyze the technical skills and capabilities of the software development team members.
- Determines whether the relevant technology is stable and established or not.
- Operational Feasibility: – This accesses the extent to which the required software performs a series of steps to solve business problems ans user requirements. Following are the task performs by Operation feasibility:
- Determines whether the problems anticipated in user requirements are of high priority.
- Determines whether the solution suggested by the software development team is acceptable or not.
- 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 teams, estimated cost of hardware and software, cost and scope, budget.