In this tutorial, you will learn about, the steps involved in the feasibility analysis.
Feasibility analysis provides three basic steps:
- 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::
- Evaluation of technology:: To determine any project we must determine technology used for project development.
- Evaluation of legal requirement and capability:: Feasibility analysis determine project development copyright, ownership or various other legal capabilities and requirements.
- Evaluation of operational requirement:: In this feasibility study operational requirement specify skill and knowledge. The operational requirement varies according to programmer or logic.
- Evaluation of economic requirement:: Economic requirement depends on the cost of data, cost of the workforce, cost of possible maintenance.
- 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.