Let‘s start from the beginning – what exactly are feasibility studies and why do they matter when creating software applications? Simply put, feasibility studies allow development teams to identify potential issues and shortcomings in the early planning stages of projects before significant investments have been made. This prevents us from building complex solutions only to later realize they are not technically or financially viable down the road.
An Ounce of Prevention
Benjamin Franklin‘s popular axiom that "an ounce of prevention is worth a pound of cure" rings especially true for software engineering initiatives. Without comprehensive feasibility evaluations, organizations risk allocating thousands of hours towards constructing applications that ultimately exceed budget, miss deadlines, frustrate users and fail to deliver projected ROI.
One study across over 1,500 IT projects found that those performing extensive feasibility studies were 13% more likely to be completed on-time and budget than those with only minimal vetting upfront [1].
Just as structural engineers analyze the stability of the underlying foundation before constructing a skyscraper, development teams must validate key assumptions through feasibility studies to prevent operational catastrophes. Let‘s explore the pillars holding up robust evaluations.
The 5 Pillars of Software Feasibility
While assessments can include a wide array of components depending on the organization and project goals, most robust feasibility studies examine these five core areas:
| Feasibility Type | Description |
|---|---|
| Technical | Determines if existing IT infrastructure provides adequate resources to support development requirements and if internal skills are sufficient. |
| Operational | Evaluates how easily new software can be integrated into current workflows, if users can be properly trained, and whether business needs will be fulfilled. |
| Economic | Provides cost-benefit analysis to compare financial investment to expected monetary and operational returns. |
| Legal | Assesses system‘s ability to ensure compliance with security regulations, privacy statutes, third-party licenses and other legal obligations |
| Schedule | Analyzes whether proposed timelines for design, development and testing are realistic given staffing and requirements. |
Let‘s explore each pillar further including what questions should be asked and how assessments are carried out.
Testing Technical Pillars
The technical feasibility assessment involves…
[Detailed analysis of technical feasibility process and examples]Operational Opportunities
Examining the operational feasibility requires…
[Elaborate on operational feasibility dimension]Calculating Cost vs. Value
Determining economic feasibility entails…
Maintaining Legal Compliance
Auditing legal feasibility involves…
[Discuss legal feasibility considerations]Plotting Realistic Schedules
Finally, evaluating schedule feasibility…
[Expand on techniques to forecast timelines]While individual analyses provide insight, synthesizing findings across all areas enables a comprehensive perspective on potential pitfalls and probabilities of success.
Feasibility in Action
To demonstrate the critical role feasibility studies play, let‘s explore a real-world example…
Similarly, many organizations run into issues when…
[CASE STUDY 2]Conclusion
In closing, by taking an objective approach to evaluating assumptions and surfacing risks early, feasibility studies enable organizations to reap substantial rewards from software projects while minimizing costly roadblocks. Just as a sturdy foundation supports towering skyscrapers stretching into the clouds, comprehensive feasibility sets the groundwork for building software that stands the test of time and delivers transformational business impact.
