Planning

A Feasibility Analysis of Suggested Solutions Contains

Economic feasibility

• To ascertain whether the advantages the system would offer are worth the price of the system's actual deployment, a cost-benefit analysis should be conducted through this.

• When the expense outweighs the value in a cost-benefit analysis, it is essentially charity for the business, or even worse, if they do not break even, they will lose money.

• A business can use this information to choose whether or not to move on with the system design.

Technical feasibility

• The project manager can receive a solid sense of the information technology accessible for their product as part of the technical feasibility assessment.

• This information technology may encompass everything that contributes to the product itself or to marketing efforts like internet ads.

• This will help you comprehend how challenging it is to comprehend the technological features of the system.

• A system loses its utility if it is too technologically sophisticated for both consumers and participants since neither will be able to utilise it.

Operational feasibility

• Project managers will examine how users and participants will adapt to the new system as part of the operational feasibility assessment.

• There is no point in having the system in the first place if it is too advanced or not advanced enough to the point where it cannot function properly.

The linked video will provide more ideas about the feasibility studies

The importance of the feasibility study

Scheduling

The project manager will take time into account while scheduling

The project must not continue to stay in the development stages indefinitely, or the system will ultimately become outdated before it is even released! Or, before the new system has a chance to succeed, a newer, more sophisticated system will be unveiled.

Gantt chart

• Gantt charts are used to schedule resources and time.

• Illustrates the connections between the different activities and presents a chronological analysis of each one.

• Displays the anticipated time for each activity

• There should be a timeline displayed with dates and significant events.