COEPD – Center of Excellence for Professional Development Happy Learning
Possibility of doing a project with some constraints like technology, budget and time.
Idea – Can it be turned into technology?
Estimate the Solution building cost and prove that it can be done.
For small, relatively straight forward efforts, the solution approach can be determined by you.
The Business Analyst alone or with a small team of experts examining the approaches in an informal working session. For larger change initiatives requiring significant investment, a more formal feasibility study may assist with determining the most viable solution option.
A Feasibility Study is the preliminary analysis of solution alternative or option to determine whether or how each option can provide an expected business benefit to meet the business need. A feasibility study may address either a business problem to be resolved or a business opportunity to be exploited. Formal feasibility studies use reliable data and apply statistics and market research to identify and analysis potential solution options.
The Feasibility Analysis is an integral part of formulating a major business transformation project, example; re-engineering a core business process and supporting technology, establishing a new line of business, increasing market share through acquisition, or developing a new product or service. Abbreviated studies may also be conducted for change initiatives requiring lower investments.
