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Feasibility Essay

855 words - 4 pages

Feasibility study topics
Common factors
The acronym TELOS refers to the five areas of feasibility - Technical, Economic, Legal, Operational, and Scheduling.
Technology and system feasibility
The assessment is based on an outline design of system requirements, to determine whether the company has the technical expertise to handle completion of the project. When writing a feasibility report, the following should be taken to consideration:
* A brief description of the business to assess more possible factor/s which could affect the study
* The part of the business being examined
* The human and economic factor
* The possible solutions to the problem
At this level, the ...view middle of the document...

A system design and development requires appropriate and timely application of engineering and management efforts to meet the previously mentioned parameters. A system may serve its intended purpose most effectively when its technical and operating characteristics are engineered into the design. Therefore operational feasibility is a critical aspect of systems engineering that needs to be an integral part of the early design phases.[5]
Economic Feasibility
The purpose of the economic feasibility assessment is to determine the positive economic benefits to the organization that the proposed system will provide. It includes quantification and identification of all the benefits expected. This assessment typically involves a cost/ benefits analysis.
Technical Feasibility
The technical feasibility assessment is focused on gaining an understanding of the present technical resources of the organization and their applicability to the expected needs of the proposed system. It is an evaluation of the hardware and software and how it meets the need of the proposed system[6]
Schedule Feasibility
A project will fail if it takes too long to be completed before it is useful. Typically this means estimating how long the system will take to develop, and if it can be completed in a given time period using some methods like payback period. Schedule feasibility is a measure of how reasonable the project timetable is. Given our technical expertise, are the project deadlines reasonable? Some projects are initiated with specific deadlines. You need to determine whether the deadlines are mandatory or desirable.
Other feasibility factors
Market and real estate feasibility
Market feasibility studies typically involve testing geographic locations for a real estate development project, and usually involve parcels of real estate land. Developers often conduct market studies to determine the best location within a jurisdiction, and...

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