Project feasibility such as system or program development needs to determine if the project or business is technically, operational and economically feasible. Before the launching of any business, it is important to conduct a feasibility study to analyze the viability of the project.
During technical feasibility study, the researcher will examine the whether the technology is available or not or whether the required resources are available. Things to consider in technical feasibility include manpower such as tester, debuggers, system analyst and programmer. Also need to consider the software and hardware to be used. Of course, the researcher needs to examine the monetary factors since it might need a huge investment.
If the expected benefits are equal or exceed the expected cost, it means that the project or business is economically feasible. The cost benefit analysis will help to measure the cost, benefits and risks.
Operational feasibility study is concern if the program or system will be used and implemented. One of the implementation methods is to conduct a parallel run in order to verify the functionality of the system. The users of the system should be happy and satisfied to the new system. New system should be cost effective, efficient, and flexible and reduce the work load.