Feasibility Analysis A Project Decision Making - 1143 Words

INTRODUCTION: In this era of tremendous computer software advancements, where progress has been made both in technically building as well as functionally managing of information systems, there still exists project breakdowns. This issue ultimately takes us back to the project feasibility analysis which forms an important preliminary constituent of software design process. This research paper focuses on the importance and need of feasibility studies in system design and its use in critical project decision making. The paper also describes the bypassing circumstances where feasibility analysis isn’t necessary. FEASIBILITY ANALYSIS: Feasibility Analysis forms one of the significant components in any system design project. It serves an important process methodology in evaluation of a planned course of actions, understanding the back-end assumptions, calculating the associated risks and chances of success after implementation. Feasibility analysis aims to highlight primary issues that can prevent your strategic decisions from being successful. It also provides an idea about the significant amount of efforts which need to be put forward in follow-up system development phases for error-free system development (Khoong Ku, 1994). Organizations utilize significant amount of time and monetary resources in conducting feasibility studies before taking any crucial project decisions. Feasibility studies broadly includes conducting detailed analysis of (1) Technical FeasibilitiesShow MoreRelatedFeasibility Analysis Of Project And Using Resources885 Words   |  4 Pagesin a situation in the workplace where a feasibility an alysis was not done and should have been done and time or money (or worker sanity/happiness) was lost, tell us about it (you can change the names of the parties involved). Based on what you ve read about decision filters do you think such a practice might have helped? 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