Feasibility study

Feasibility study is an important step in the process of deciding whether or not to pursue a computing or programming project, such as the development of a new computer system or software application. A feasibility study typically examines the potential of the project to be successful, the expected costs, resources needed, and potential risks. The results of the study will be used to determine whether to proceed with the project or to cease further action.

Typically, a feasibility study will begin by gathering and analyzing data related to the project, to include information about the desired outcome, nonquantifiable factors, related business processes, and expected costs and resources required. Information about alternative solutions may also be included as part of the study. Interviews with personnel and stakeholders may also be conducted to provide additional insight that could affect the potential success of the project.

After gathering and analyzing the data, an evaluation of the potential success of the project is made. This can include looking at the expected costs and resources compared to potential benefits. Additionally, the risk of failure and other nonquantifiable parameters, such as user acceptance, may also be evaluated. After finishing the evaluation, the feasibility study is documented in a report that details the findings, conclusions, and recommendations for proceeding with the project.

Feasibility studies can be an invaluable tool for businesses looking to pursue a computing or programming-related project. By providing data and information about the potential success and any risks or concerns, decision-makers are better informed and equipped to make informed decisions regarding their projects.