Feasibility is a 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 the software or not. Such information as resource availability, cost estimate for software development, benefits of the software to organization, and cost to be incurred on its maintenance are considered. The objective of the feasibility study is to establish the reasons for developing a software that is acceptable to users, adaptable to change, and comfortable to aquablished standards.
Types of Feasibility: - various types of feasibility that are commonly considered include technical feasibility, operational feasibility and economic feasibility.
Technical Feasibility: - Technical Feasibility assesses the current resources and technology, which are required to accomplish user requirement in the software within the allocated time and 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 performs the following tasks:-
> It analyses the technical and capabilities of the software development team members.
> It determines whether the relevant technology is stable and established.
> It ascertains that the technology chosen for software development has large number of user so that they can be consulted when problems arise, or when improvements are required.
Operational Feasibility: - 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 resource and involves visualizing whether or not the software will operate after it is developed, and be operated once it is installed. It also performs the following tasks:-
> It determines whether or on Economic Feasibility: - 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 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.
> Cost incurred on software development to produce long-term gains for an organization.
> Cost required to conduct full software investigation.
> Cost of hardware, software, development team and training.
Feasibility Study Process :-
Feasibility study comprises the following steps :-
1. Information assessement :-Identifies information about whether the system helps in achieving the objectives of the organizatio. 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.
2. Information collection :- Specifies the sources from where information about software can be obtained. Generally, these sources include users, and the software developement team.
3. Report writing :- Uses a feasibility report, which is the conclusion of the feasibility by the software developement team. In includes the recommendation whether the software development should continue or not.
where is the explanation of Economic feasibility?