We will take a look at a feasibility study, Steps which is Essential For Your Success and its forests of economic technical organizational. The scheduled feasibilityis very essentially. We’re looking at the participants and whether they can handle the new system.
A Feasibility Study
It is using to assess whether a proposed project should undertake, and it does this by looking at feasibility in four specific areas.
FIRST ONE IS ECONOMIC FEASIBILITY: That relates to what kind of funds allocated to this project.
THE SECOND ONE IS TECHNICAL FEASIBILITY: That looks at the hardware and software within an organization and can manage a new project.
The third is Operational Feasibility: This knows as organizational feasibility in the old syllabus beneath an announcement called operational feasibility. This relates to the people and the participants within the organization, and they will cope with the change of a new system.
Finally, it is scheduled feasibility and laying: how much time do you have to implement this new system. After this has been assessed in all feasibility areas, we decide whether or not a new system can be implemented. Is it feasible?
Can we do something essential? The word means we can implement this new system based on these four areas that affect it. So, we will go into a bit more detail into secrets to feasibility study of a commercial project – even in this down economy.
Economic Feasibility Study
So first, this economic feasibility essentially with any project you are going to give a budget.
This budget might be you have been given $30,000 you’ve got to spend on improving your network in some way in the way we do our day-to-day tasks.
This actual area of feasibility overlaps with all the other areas. Because each one has a financial cost, so if you need to purchase new hardware and software that relates to technical feasibility. If staff need to train that relates to organizational feasibility, make sure.
They use the new system, and then finally, if timelines run over the deadlines, it will cost money because you’ve gone beyond your scheduled time, and people need to be paid for their work.
So that’s going to impact economic feasibility as well, so you’ve got to consider how much money you have and how it will allocate.
The second area is a technical feasibility study
we’re looking at all hardware and software, and whenever you give an answer related to how technical feasibility study mentions hardware and software individually under technical feasibility.
So firstly, what hardware components need to be set up? Do we need new monitors to get digital cameras for doing tasks? Do we need to set up new network cabling around the room and connect to routers to make a secure line to the internet?
So it is all the components of the existing system that we’re looking at here. Do we have it? Do we not have it? Can we purchase it at a reasonable cost, all coming under technical speed feasibility?
Next, we have an operational feasibility study.
We’re looking at the participants and whether they can handle the new system; we need to understand how well-trained our participants are; they can do the tasks that the new system requires.
If not, are they able to train by someone? Do we bring in a third party to train them, or do we get our staff trained, but it may be one staff member?
First and then they train the rest of the staff sometimes as well in either factor. Do we need training materials? Do we need an operational manual that each staff member gets? So, they understand how to use the new system, or will there be presentation media.
They’ll show in training to prepare staff for the new system. These are all factors we need to understand if we’re going to be sure staff will be qualified to use this new system. Then once again it can relate to more money being spent on Feasibility study costs.
Finally is our schedule feasibility study.
We’re specifically looking at how much time we have; the old saying Rome wasn’t built in a day will take time to implement this new system. But is there a realistic timeline if we budgeted for three months and then take four months to make it well. Then we’ve got a month extra of payment we need to pay for certain groups that have either been training staff that has been out of work, and it blows the budget? And how much do we have?
so we’ve got to keep a strict schedule which may do in conjunction with a Gantt chart to make sure that our actual project will be on track. It’s really what we’re going to do now is look at a quick scenario relating to the Feasibility Study.
So what we’re going to do a look at a proposed system
The first thing we’ll look at is our actual schedule, so we’ve got 30 weeks in time for the new year.
Schedule Feasibility: relates to that 30 weeks; that’s the timeframe we have.
Economic feasibility: The next thing is our budget; well, we’ve got $80,000, so we’ll lock that in $80,000. We think that’s probably going to spend in overhauling the hardware and software as a component of it.
Technical Feasibility: It is also going to focus on the technical components of this system, enabling us to share documents and video conferencing. We’re going to have to probably get hardware that relates to that so we can achieve those tasks. Hardware would mean web cameras for video conferencing. A router for setting up the network connection allowing us to share documents online. To upload our videos probably fiber optic cabling.
So, we have an excellent network in our local area to work with and ensure that our bandwidth doesn’t drop with so much Wireless. They used for our internet access as well as desktop computers with high-resolution monitors. We get a clearer image of those people across the world who are video conferencing with as a part of the technical.
Feasibility Software
We need to look at what software we’re going to be using and, as mentioned. We’re going to be setting up an intranet ok. As soon, the Internet’s going to require browser software and possibly web design software. We want to edit that Internet ourselves.
We’re also going to need video conferencing software to allow us to videoconference. You can’t use just videoconference by staring into a camera when actual software will manage the video conferencing. We need to look at our organizational feasibility, so staff needs to train and the new hardware and the Internet as mentioned in the scenario.
So I hope this gives you a bit of an understanding of how the Feasibility study works. We broke up into four areas. We’ve looked at a scenario here and now; this is a courageous feasibility study. You can go on four paragraphs about how each of these areas of feasibility will impact an actual organization?
Conclusion
This is just a mean summary. So, if you’re ever doing feasibility studies in one of your assessments. You should have many more pages of work analyzing an existing proposed new system? How can it effectively implement? Whether or not it will succeed a new organization, I hope that clears things up for you.
