Types of feasibility studies and feasibility reports
various types of feasibility studies
- Operational feasibility : it is measure of, how well the solution will work in the organization. it is also the measure of , what people feel about the project/system
- Technical feasibility : it is the measure of the practicality of a specific technical solution and the availability of technical resource and expertise.
- Schedule feasibility : it is a measure of , how reasonable the project timetable is.
- Economic feasibility : it is measure of cost effectiveness of the system/project and its solution it is often called cost benefit analysis.
- Cultural Feasibility - What will be the impact of particular thing on both local and general cultures? How they will respond to that. What type of implications does the feasibility study have?
- Legal/Ethical Feasibility - it is a measure of legal implications on the project, ethical considerations. We need to make sure that project undertaken will meet all legal and ethical requirements.
- Resource Feasibility - Do we have enough resources, what resources and facilities will be required for the project, etc.
- Marketing Feasibility - Will anyone want the product once its done? What is the target demographic? Should there be a test run? Is there enough buzz that can be created for the product?
- Real Estate Feasibility - What kind of land or property will be required to undertake the project? What is the market like? What are the zoning laws? How will the business impact the area?
- Managerial Feasibility Study – Managerial feasibility is measured by certain key elements like employee involvement, demonstrated management availability & capability and commitment.
- Financial Feasibility Study – Validating that a project is possible within your financial constraints. For example, a construction project that uses reference class forecasting as a sanity check for project budget.
It is a final report of the feasibility study about the findings and conclusion of the study. it should be possible to review report and take decision on the project based on it . For the convenience of the reader report usually include executive summary which gives the salient point and conclusion of the report. The report must contain clear scope of the system. it should give the description of the both existing system and proposed system.
The report may also contain the methods used in study and the persons contacted and other similar things.
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- Title page with the name of the project and customer
- Information-version-number,name of the author,reviewer, approver etc.
- Table of content
- Scope and system boundaries
- Problem statement along with current system description, proposed system description, description of how the proposed system will solve the problem
- Executive summary
- Cost/benefit statement
- Implementation schedule for implementing the proposed system
- Hardware configuration
- Appendices with details to to supplement the report.