The standard software engineering practices include feasibility analysis and experts recommend that all software projects, before starting the development, require the conduction of a feasibility study to analyze the requirements and relevant project perspectives.
Usually, this practice is done at the project initiation time in order to determine the project’s requirements elaborations. Multiple software organizations formally conduct a feasibility analysis for various projects, particularly for projects they hope to be bigger than a specific size as far as costs and time duration are concerned. Many projects that are based on linear waterfall models that are readily elaborated prerequisites and requirements do not need to have a feasibility analysis but the complex and extraordinary projects are required to have this so that the requirements checklist gets crystal clear from all perspectives.
What is Feasibility Analysis?
Feasibility Analysis in Software Engineering is an examination to assess the plausibility of a proposed system or project. A feasibility study is one of the phases among significant four phases of the Software Project Management Process. As the name recommends this study is an attainability examination or it is a proportion of the product item as far as how beneficial and useful product development will be for the association from a practical perspective. This analysis is conducted on numerous bases and reasons to examine whether software products will be direct regarding development, implantation, the contribution of the project to the association, and so on.
What does the requirements feasibility analysis do?
Feasible requirements are the building blocks for any successful software project. A planned solution only operates fine since it fulfills the necessities. Fulfilling the necessities offers quantifiable benefits by taking care of an issue, accepting an opportunity, or meeting a test. The solution offers some incentive if and just in the case that it fulfills the necessities.
1. Defining Requirements:
Characterizing requirements should be the beginning phase for feasibility examination as an extraordinary prerequisite. In different phases of programming projects, individuals get befuddled on the grounds that they don’t know about the need to find the REAL business/stakeholder prerequisites. All things being equal, they feel that product/software functional necessities are the prerequisites. With feasibility examination, there ought to be no explanation behind disarray.
2. Determining Alternative Approaches:
The feasibility analysis assesses the capacity of elective methodologies, not products, to economically meet prerequisites, which should be the REAL business necessities – business deliverables what’s that offer some incentive when conveyed by the methodology’s product for more data on the differentiation among business and the product necessities.
3. High-Level Business Requirements:
It is performed right on time with a moderately modest number of endeavors; consequently, it depends on high-level REAL business necessities. At the first glance, this would appear to be what most necessities definitions do, which regularly are simply a couple of sentences depicting targets or anticipated advantages. Frequently they are rather high-level product requirements as opposed to high-level business necessities.
Importance of Requirements Feasibility Analysis:
The feasibility analysis plays a vital role in the Software Project Management process as it serves as a crucial phase and the completion of which provides the following;
1. Define a project’s feasible conduction:
It gives a decisive conclusion of whether to proceed with the proposed project as it is essentially doable or to stop the proposed project here as it isn’t all correct to create or to examine the proposed project once more.
2. Identification of Risk Factors that may involve:
It helps in recognizing hazard factors engaged with creating and deploying a project and making planned solutions for risk examination.
3. Revised business alternatives:
It limits the business choices and improves the achievement rate by breaking down various boundaries related to proposed project development.
Types of Requirements Feasibility Study:
The feasibility report or study basically focuses on the five referenced areas. Among these Economic Feasibility Study is the main piece of the plausibility analysis and Legal Feasibility Study is comparatively less viewed.
1. Technical Feasibility:
In Technical Feasibility current assets both hardware and software alongside required innovation are investigated to build up the project. This specialized feasibility report gives a report on whether there exists the right required assets and technologies which will be utilized for project development. Alongside this, feasibility concentrate also investigates specialized abilities and capacities of the technical team, whether existing technology can be utilized or not, whether upkeep and up-degree are simple or not for the selected technology, and so forth.
2. Operational Feasibility:
The Operational Feasibility level of offering support to necessities is dissected alongside how simple the item will be to work and maintain after its deployment. Along with these, other operational extensions are deciding the ease of use of the product, deciding recommended solutions by the product software development team are worthy or not, and so on.
3. Economic Feasibility:
In the Economic Feasibility study, the cost and benefits of the project are dissected. This means under this analysis, an itemized examination is completed at what will be the cost of the project for implementation which incorporates all necessary expenses for conclusive development like hardware and software resources required, design and development cost and operational expense, etc. From that point forward, it is broken down whether the venture will be beneficial regarding finance for the organization or not.
4. Legal Feasibility:
In the Legal Feasibility study, a legitimateness perspective of the project is analyzed. This incorporates breaking down boundaries to the legitimate usage of the project, information protection acts or web-based media laws, project declaration, permit, copyright, etc. In general, it very well may be said that this study is an analysis to know whether the proposed project adjusts to legal and moral necessities.
5. Schedule Feasibility:
In the Schedule Feasibility Study, predominantly the timelines for the proposed project are analyzed which incorporates how frequently the team will take to complete the last project which significantly affects the organization as the motivation behind the project may fizzle on the off chance if it can’t be finished on schedule.
Steps of Feasibility Study Process:
The below steps are carried out during the entire feasibility analysis.
- Assessment of the information that can be gathered from any aspect of the project.
- The collection of information and analysis
- Conduct the SWOT analysis of the project
- Document the research and analysis in a report
It is worth noticing that the feasibility analysis is conducted before making the business plan. The business plan must be ideally created when the project’s feasibility is approved by the stakeholders. If the feasibility of the project has been done successfully for any proposed solution then you are good to go for constructing the business plan ahead with a “roadmap” of how the project can be developed and this will give the “blueprint” for project execution.