Feasibility (Economic, Technical, Operational, Scheduling, Legal and Contractual, Political)

In: Business and Management

Submitted By imomo
Words 483
Pages 2
Economic Feasibility
The first step to analyzing the economic feasibility of our proposed project is to determine the Project Benefits. Some of the main tangible benefits that will be realized from the project include error reduction leading to cost reduction and increased productivity due to user-friendliness. Intangible benefits arising from this project will include increase in user confidence as they know there is no chance of major information loss. The next step is to determine Project Costs. Some of our tangible costs will of course include any costs associated with acquiring additional Hardware or Hardware upgrades such as new or upgraded storage servers (physical or virtualised), Software Costs (in this case, the software we will be purchasing), labor costs for our constructor/programmers and of course costs associated with training users how to use the new system. One Intangible cost may include a drop in employee morale initially as there is often a resistance to change, especially in employees who have been using the old system for some time. Another intangible cost that could possibly occur should the project not be executed carefully would be operational efficiency. Costs mentioned above that would fall into the One-time cost category would include the Hardware and Software components required, user training, and potentially data conversion costs should the system purchased not be directly transferable. Contrarily, costs such as incremental data storage, new software licenses and system maintenance all fall under the recurring costs category.

Operational Feasibility
The proposed system is very likely to solve the business problems outlined by providing the same type of functionality on a high-level as the current system, only with added security and user-friendliness on the front-end.

Technical Feasibility
In order to avoid the…...

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