feasibility study

feasibility study

[‚fēz·ə′bil·əd·ē ‚stəd·ē]

(systems engineering)

A study of applicability or desirability of any management or procedural system from the standpoint of advantages versus disadvantages in any given case.

A study to determine the time at which it would be practicable or desirable to install such a system when determined to be advantageous.

A study to determine whether a plan is capable of being accomplished successfully.

Feasibility study

An analysis of the possibilities for a project or structure; which typically includes factors regarding zoning, alternative uses, building codes, financial, environmental, design and historic significance.

feasibility study

A detailed investigation and analysis conducted to determine the financial, economic, technical, or other advisability of a proposed project.

feasibility study

(systems analysis)

Part of the systems develpment life cycle which aims to determine whether it is sensible to develop some system. The most popular model of feasibility study is "TELOS", standing for Technical, Economic, Legal, Operational, Schedule.

Technical Feasibility: does the technology exist to implement the proposed system? Is it a practical proposition?

Economic Feasibility: is the system cost-effective? Do benefits outweigh costs?

Legal Feasibility: is there any conflict between the proposed system and legal requirements, e.g. the Data Protection Act?

Operational Feasibility: are the current work practices and procedures adequate to support the new system?

Schedule Feasibility: can the system be developed in time?

After the feasibility study, the requirements analysis should be carried out.

feasibility study

The analysis of a problem to determine if it can be solved effectively. The operational (will it work?), economical (costs and benefits) and technical (can it be built?) aspects are part of the study. Results of the study determine whether the solution should be implemented.