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he feasibility study represents the first opportunity for agency management to assess the full implications of a proposed information technology project. The feasibility study is also the means of linking a specific information technology project to the agency's strategic business plans and information technology plans, and to ensure that the proposed project makes the best use of the agency's information technology infrastructure. The purposes of the feasibility study are to:

1. Determine whether there is a business case for a proposed project, i.e., whether the expenditure of public resources on the project is justified in terms of the project's:

a. Being responsive to a clearly-defined, program-related problem or opportunity;

b. Being the best of the possible alternatives;

c. Being within the technical and managerial capabilities of the agency; and

d. Having benefits over the life of the application that exceed development and operations costs. Project benefits typically include reduced program costs, avoidance of future program cost increases, increased program revenues, or provision of program services that can be provided only through the use of information technology.

2. Provide a means for achieving agreement between agency executive management, program management, and project management as to:

a. The nature, benefits, schedule, and costs of a proposed project; and

b. Their respective management responsibilities over the course of the project.

3. Provide executive branch control agencies and the Legislature with sufficient information to assess the merits of the proposed project and determine the nature and extent of project oversight requirements.

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What input is required to determine objectives for hotel feasibility study?

A feasibility study determines whether a project or business would be sustainable and profitable. For a hotel, the information that would need to be taken into account includes the market conditions, all construction and operating costs, and all expected income.


Explain feasibility study detail with suitable example?

A feasibility study is an evaluation and analysis of the potential of the proposed project which is based on extensive investigation and research to give full comfort to the decisions makers.


Explain all the inter-related types of feasibility studies?

What are the Types of Feasibility StudiesThere are many different types of feasibility studies; here is a list of some of the most common:Technical Feasibility - does the company have the technological resources to undertake the project? Are the processes and procedures conducive to project success?Schedule Feasibility - does the company currently have the time resources to undertake the project? Is the project completable in the available time?Economic Feasibility - given the financial resources of the company, is the project something that can be completed? The economic feasibility study is more commonly called the cost/benefit analysis.Cultural Feasibility - what will the impact on both local and general cultures be? What sort of environmental implications does the feasibility study have?Legal/Ethical Feasibility - what are the legal implications of the project? What sort of ethical considerations are there? You need to make sure that any project undertaken will meet all legal and ethical requirements before the project is on the table.Resource Feasibility - do you have enough resources, what resources will be required, what facilities will be required for the project, etc.Operational Feasibility - this measures how well your company will be able to solve problems and take advantage of opportunities that are presented during the course of the projectMarketing Feasibility - will anyone want the product once its done? What is the target demographic? Should there be a test run? Is there enough buzz that can be created for the product?Real Estate Feasibility - what kind of land or property will be required to undertake the project? What is the market like? What are the zoning laws? How will the business impact the area?Comprehensive Feasibility - this takes a look at the various aspects involved in the project - marketing, real estate, cultural, economic, etc. When undertaking a new business venture, this is the most common type of feasibility study performed.Arun Agrawal9456261654


What are the four main criteria used to test the feasibility of a project?

The four main criteria used to test the feasibility of a project are technical feasibility, economic feasibility, legal feasibility, and operational feasibility. Technical feasibility assesses whether the project's technology and resources can achieve the desired outcomes. Economic feasibility evaluates the cost-effectiveness and financial viability of the project. Legal feasibility examines compliance with laws and regulations, while operational feasibility considers whether the organization can effectively implement and sustain the project within its existing operational framework.


How do you make a feasibility study and give me examples?

To conduct a feasibility study, start by defining the project scope and objectives, then analyze market demand, technical requirements, financial viability, and potential risks. Gather data through surveys, industry analysis, and cost estimates to assess whether the project is practical and profitable. For example, if considering opening a new restaurant, evaluate local competition, customer demographics, startup costs, and projected revenue. Another example could be assessing the feasibility of a new app by analyzing target users, technical development needs, and potential monetization strategies.

Related Questions

Project feasibility study example?

sample of feasibility study


What is feasibility study and give the ten stages of feasibility study?

It is the study on project feasibility which give you details whether a project can be successful or not, the time the project will take to be completed, and the cost of the project.


Components of project feasibility?

1. Feasibility Study Request 2. Feasibility Study report


What is the general objectives of the feasibility study?

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.


How do you make feasibility study objectives?

The best way to identify feasibility study objectives is to determine what you are trying to learn from the study. If you want to know how many customers are possible from your location and business goals then you would structure your objectives around these goals.


What are the content of the feasibility study?

The feasibility study contents are: market analysis and the scope of the project; social and environment feasibility; technical feasibility; risk studies; preliminary cost assessment; the financial analysis; economic feasibility and project implementation outline. These help in the process of decision making of the proposed project.


What are the feasibility study and define each?

Feasibility study is the evaluation of a proposed project. This is to determine if the project is technically feasible, feasible within estimated cost, and will be profitable.


What is the difference between project document and project feasibility report?

I believe you mean the Project Initiation Document (not just Project Document). The feasibility study occurs before initiating the project. The project initiation document assumes that the project is approved, is feasible (on all levels), and aligns with the company strategy (as explained by the feasibility study).


What are the advantages and disadvantages of a project feasibility study?

One of the advantages of a project feasibility study is discovering if the idea will work before you spend money. Disadvantages to the study would include not being able to get started on a project as quickly as you might like.


What input is required to determine objectives for hotel feasibility study?

A feasibility study determines whether a project or business would be sustainable and profitable. For a hotel, the information that would need to be taken into account includes the market conditions, all construction and operating costs, and all expected income.


Why is feasibility study important?

Because, if you do not conduct a proper feasibility study before taking up a new project you wont even know if the project is feasible and can be completed. Taking up such a project is asking for failure to happen.


Why feasibility study important?

Because, if you do not conduct a proper feasibility study before taking up a new project you wont even know if the project is feasible and can be completed. Taking up such a project is asking for failure to happen.