Feasibility Study
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1
What is the main purpose of a feasibility study?
To determine whether a project has a reasonable chance of success
2
Are all projects feasible?
No, especially with tight budgetary and time constraints
3
What are the four key types of feasibility?
Technical, Operational, Schedule, Economic
4
What does technical feasibility assess?
If the organisation has the technology resources to develop, install, and operate the system
5
What kind of questions are asked in technical feasibility?
Is the technology practical? Do we have the expertise? Is the schedule reasonable?
6
What does operational feasibility assess?
If the system solves business problems or supports business objectives effectively
7
What framework helps identify operational problems and urgency?
The PIECES framework
8
In the PIECES framework, what does P stand for?
Performance
9
In the PIECES framework, what does I stand for?
Information
10
In the PIECES framework, what does E (first E) stand for?
Economy
11
In the PIECES framework, what does C stand for?
Control
12
In the PIECES framework, what does E (second E) stand for?
Efficiency
13
In the PIECES framework, what does S stand for?
Services
14
What does schedule feasibility assess?
If the timeframe and completion dates meet organisational deadlines
15
What tool can be used to estimate project time?
Gantt Charts
16
What does economic feasibility determine?
If the project can be done within budget and if benefits outweigh costs
17
What are the two tests of economic feasibility?
Cost / Benefit analysis and adequate cash flow
18
What is cost-benefit analysis?
Identifying financial benefits and costs to compare with project expenses
19
What are tangible costs?
Costs with specific dollar values (e.g., salaries, hardware/software purchases)
20
What are intangible costs?
Costs without easily calculated dollar values (e.g., dissatisfaction, morale)
21
What are direct costs?
Costs linked directly to system development (e.g., project team salaries, hardware purchase)
22
What are indirect costs?
Overhead expenses not tied to a specific system (e.g., network administrator salaries)
23
What are fixed costs?
Costs that remain constant regardless of activity level (e.g., salaries, rentals)
24
What are variable costs?
Costs that change with activity level (e.g., printer paper, supplies)
25
What are developmental costs?
Costs incurred once during system development (e.g., staff salaries, training, hardware)
26
What are operational costs?
Ongoing costs after implementation (e.g., maintenance, license fees)
27
What are positive benefits?
Direct results of the new system such as increased revenue, better services, higher morale
28
What are cost-avoidance benefits?
Expenses avoided by installing the new system (e.g., not hiring extra staff, avoiding replacement costs)
29
What is the cost-benefit formula?
Benefits ÷ Costs
30
Which project solution is preferred in cost-benefit analysis?
The one with the highest ratio of benefits to costs
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