FEASIBILITY STUDY

It is the measure and the study of how beneficial the development of the system would be to the organization. This is known as feasibility study. The measurement of feasibility is known as feasibility study. There are number of aspects which are taken into consideration while the feasibility studies. Firstly the project team is formed then with the help of flowcharts and other forms of documentations the characteristics of the system are identified. The system is evaluated and measured against the expected performance. A suitable candidate is selected for the job and a final report is made and presented to the management for further evaluations. 

The different types of feasibility studies are as follows:

• Technical feasibility study: It is used to determine the requirements of technologies for the current system.
• Schedule feasibility study: It is used to determine the time factor related to the current system.
• Cultural feasibility study: It is used to determine the impact of the current system on a culture.
• Legal feasibility study: It is used to determine the legal scrutiny of the current system.
• Marketing feasibility study: It is used to determine the single and multi-dimensional market forces that affect the current system. 
• There are four types of marketing feasibility study, which are as follows:
1. Economic feasibility.
2. Legal feasibility.
3. Operational feasibility.
4. Schedule feasibility.

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