Define the feasibility measures that should be considered during project analysis and give an example of each
Technical feasibility is an assessment as to whether the system can be developed under existing technology or if new technology is needed. An example might be a situation where a firm wants to completely automate the sales process. A question would be-Is technology available that allows sales to be made without humans?
Economic feasibility is an assessment as to the availability of funds to complete the project. A question would be-Is it cost feasible to purchase equipment to automate sales?
Legal feasibility identifies any conflicts with the proposed system and the company's ability to discharge its legal responsibilities. An example would be a firm that is proposing a new mail order sales processing system for selling wine.
Operational feasibility shows the degree of compatibility between the firm's existing procedures and personnel skills and the operational requirements of the new system. Do the firm have the right work force to operate the system? If not, can employees be trained? If not, can they be hired?
Schedule feasibility pertains to whether the firm can implement the project within an acceptable time frame. An example would be a new ticket sales system for a sports team. The system would need to be implemented prior to the start of the new season.
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