explain the steps involved in the feasibility analysis.

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In this tutorial, you will learn about, the steps involved in the feasibility analysis.

Feasibility analysis provides three basic steps:

  1. Evaluation of the project according to selected criteria:: Feasibility analysis completely depends upon a project where any project specifies according to five basic criteria:
  • Evaluation of technology
  • Evaluation of legal requirement.
  • Evaluation of operational requirement.
  • Evaluation of economic
  • The requirement is related to the schedule.

2. Summary of evaluation result:: In this stage project evaluation department determine strength and weakness of project where in this feasibility study we can specify all positive and negative components defined in summary form.

3. Commendation:: In this feasibility study specifies the direction of the projector implementation of the project. It is also called the execution of project planning.

4.Evaluation of project::

  1. Evaluation of technology:: To determine any project we must determine technology used for project development.
  2. Evaluation of legal requirement and capability:: Feasibility analysis determine project development copyright, ownership or various other legal capabilities and requirements.
  3. Evaluation of operational requirement:: In this feasibility study operational requirement specify skill and knowledge. The operational requirement varies according to programmer or logic.
  4. Evaluation of economic requirement:: Economic requirement depends on the cost of data, cost of the workforce, cost of possible maintenance.
  5. Evaluation of schedule requirement:: For project planning, we must be estimate time for each operation

Comment below if you have queries related to the above topic, the steps involved in the feasibility analysis.

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