What is the general objectives of the feasibility study?

Answer 1

Feasibility is the study of whether or not a project is worth doing. The process followed in making this determination is called a feasibility study. The main objective of the feasibility study is to prepare

1) Project Specification

2) Cost Benefit Analysis

3) Prepare Feasibility Report.

The project specification has all the information about the project which is more like a guideline for the project. It gives a great insight to the management about the kind of investment involved for undertaking a project along with the manpower, hardware, software and other factors.

Cost Benefit analysis is a method to identify the gross benefit involved in the development and implementation of a new system. Basically, it tells the organization whether they are economically prepared for the project.

Feasibility Report contains various feasibility studies like:-

Technical Feasibility

Economic Feasibility

Operational Feasibility

Social Feasibility

Time Feasibility

Management Feasibility

And Legal Feasibility.