What is meant by feasibility study?

It’s a metric for determining how useful and valuable software project development will be to the company. The software analyst performs research to determine the project’s economic, technical, and operational viability.

Economic: It covers the cost of training, additional materials, and tools, as well as an overall estimate of the project’s expenses and benefits.

Technical: It assesses the technical aspects of the situation. Is there a way to improve this system? Considering the appropriateness of the machine(s) and operating system (OS) on which the software will run, as well as an understanding of software development and tools accessible for this project.

Operational: The analyst must analyze whether the organization will be able to react easily to the adjustments made in response to the project’s demand. Is it worthwhile to solve the problem at the projected cost?

The final feasibility report is prepared once all of this has been studied.