Can Anybody Explain Feasibility Study And Its Types?

It is the study of current system which is to be changed with a new system. The feasibility study includes complete initial analysis of all related system. Therefore the study must be conducted in a manner that will reflect the economic as well as technical feasibility of the system proposal.

Types:

There are two main types of feasibility study.

1: Economic Feasibility:

Economic feasibility is the most frequently used method for evaluating the effectiveness of the candidate system that is proposed system, more commonly used as cost/benefit analysis. The procedure is to determine the benefit and savings that are expected from the candidate system and compare them with the coast, if the benefit over weight cost then the decision is made to design and implement the system, other wise further justification in the proposed system will have it be made, if it has chance to improve. Cost estimate for a system we consider several elements.
Hardware, Personnel, Facility, Operation, Supply cost etc.

2: Technical Feasibility:

In the technical feasibility the system analyst look between the requirements of the organization, such as

Suggest input device which can enter a large amount of data in the effective time.

Output devices which can produce output in a bulk in an effective time.

The choice of processing unit depends upon the type of processing required in the organization.

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