Nabin Basnet (BTECH HND/2
nd
Semester, Sec F)
|
P a g e
Software Development Lifecycle | 2019
Technical/Technological:
The principle was founded upon the development of system
requirements, in order to determine if the organization has the technical expertise to carry out the
task. The feasibility study aims to produce good results with highly qualified persons and
suitable equipment. Furthermore, the feasibility study examines a technical solution that is
suitable and then examines if the solution can or cannot be implemented in the environment.
Economical:
In this principle the questions may arise to determine the available economical
resources is affordable or not? Though it is affordable it questions like: is the projected return on
investment sufficient? It is impossible to implement a project that is simply too costly and that
does not bring adequate economic benefits. This is the most important factor in the profitability
of the company. In fact, this is given by the project's feasibility study. The project expenditure
should be reviewed on request.
Legal:
Does the suggested project meet with the applicable laws? We must ensure at this point
that no law has been breached in our project. Some of the projects have been restricted to by the
governments. So the study of the entire background must be known and work must then only
begin. The study of the project's feasibility will also make us aware of the legal aspects of illegal
projects to be carried out. The project should be registered in the government legally.
Operational/Organizational:
Is the project in accordance with the organization's policies and
goals? This is confirmed at this point in the analysis of feasibility. In the given environment, the
planned projects will run or these are not controlled at these stages. If the employees and the
management collaborate or provide assistance during the operation of the project, the overall
project completion time will be reduced. The project operation should be cost-efficient and
completed on time under the estimated budget.
Scheduling:
Is it possible that the project will be finished on time despite the proposed
schedule? If it takes too long for the project to conclude, it will increase costs and have a harmful
effect on the overall profitability. The satisfaction of the customers is an important factor in the
project so that the entire project is decided at the very beginning and scheduled as required.
Purpose of Feasibility study
The purpose of a feasibility study is to evaluate a business plan and assess whether the project is
workable and whether it needs to be followed up. We are able to guarantee that clients open up
Nabin Basnet (BTECH HND/2
nd
Semester, Sec F)
|
P a g e
Software Development Lifecycle | 2019
their business, invest the entire money with confidence and can guarantee that profits are made
from the project with an accurate and complete feasibility study of the project. If the project is
