Question

What feasibility considerations should be assessed before committing to investing in an IT project? Write a paragraph of minimum 125 words please.

Answer 1

Answer

A feasibility study is an analysis that takes all the factors regarding the project invesments and the how productive it will be for an organisation or a group. the feasibility consideration including economic, technical, legal, Market to ascertain the likelihood of completing the project . feasibility study is a controlled process for identifying problems and opportunities, determining objectives, defining successful outcomes associated with invesments especially in IT sector.which is very sensitive concern.

following factors  should be considered as feasible before investing in an IT projects:

• Information assessment: It indicates  whether the system helps in achieving the objectives of the organisation. It also checks  that the system can be implemented using new technology and within the budget and whether the system can be integrated with the existing system.

Market strategy:

it is very important to understand the latest trends in the market, keeping the customer demands under consideration.

• Information collection:

it Specifies the sources from where information about software can be obtained. Generally, these sources include users (who will operate the software), organisation (where the software will be used), and the software development team (which understands user requirements and knows how to fulfill them in software).

• Report writing: Uses a feasibility report, which is the conclusion of the feasibility study by the software development team. It includes the recommendations whether the software development should continue. This report may also include information about changes in the software scope, budget, and schedule and suggestions of any requirements in the system.

• Environment: Identifies the individuals responsible for software development. It provides information about input and output requirements, processing requirements of the software and the interaction of the software with other software. It also identifies system security requirements and the system's processing requirements

• Current functional procedures: Describes the current functional procedures of the existing system, whether automated or manual. It also includes the data-flow of the current system and the number of team members required to operate and maintain the software.

• Functional objective: Provides information about functions of the system such as new services, increased capacity, and so on.

• Performance objective: Provides information about performance objectives such as reduced staff and equipment costs, increased processing speeds of software, and improved controls.

• Assumptions and constraints: Provides information about assumptions and constraints such as operational life of the proposed software, financial constraints, changing hardware, software and operating environment, and availability of information and sources.

• Methodology: Describes the methods that are applied to evaluate the proposed software in order to reach a feasible alternative. These methods include survey, modeling, etc.

• Evaluation criteria: Identifies criteria such as cost, priority, development time, and ease of system use, which are applicable for the development process to determine the most suitable system option.

• Recommendation: Describes a recommendation for the proposed system. This includes the delays and acceptable risks.

• Equipment impacts: Determine new equipment requirements and changes to be made in the currently available equipment requirements.

• Software impacts: Specify any additions or modifications required in the existing software and supporting software to adapt to the proposed software.

• Organizational impacts: Describe any changes in organization, staff and skills requirement.

• Operational impacts: Describe effects on operations such as user-operating procedures, data processing, data entry procedures, and so on.

• Developmental impacts: Specify developmental impacts such as resources required to develop databases, resources required to develop and test the software, and specific activities to be performed by users during software development.

• Security impacts: Describe security factors that may influence the development, design, and continued operation of the proposed software.

• Alternative systems: Provide description of alternative systems, which are considered in a feasibility study. This also describes the reasons for choosing a particular alternative system to develop the proposed software and the reason for rejecting alternative systems.