Information Technology - The planning phase - feasibility studies
Once the problem identification process has been completed and an idea of
a solution (or a number of possible solutions) have been established, but
before any large project is approved, a thorough investigation of the
implications, costs and benefits of the system should be undertaken. This
investigation is referred to as the Feasibility Study.
The main reason for conducting a feasibility study, in broad terms, is to
see if creating the system will be worthwhile. What defines "worthwhile"
will vary from company to company and system to system. Generally speaking,
it is a balancing act - can the cost of developing the system be justified
by the benefits the system will deliver?
The issues that a feasibility study will look at include:
* can the system be created?
* does the company have the ability to create the system?
* if the system was developed, does the company have the ability to keep
it operating at an acceptable level?
* can the system development costs and ongoing costs be justified on the
improvements it will deliver?
* is there a better way of solving the problem?
* should the system development go ahead?
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