Question

Why is it important for the Feasibility Analysis to be performed prior to beginning the process of acquiring or developing the software that satisfies the business requirements?

Would you recommend that every Application development project have a complete and thorough business requirements and feasibility analysis performed?

Answer 1

A feasibility analysis is required before starting the process of editing or developing software that meets the needs of each business. A pragmatic analysis is needed to determine the viability of a plan as technically feasible as well as economically sound. It is not possible to project into something. It can have different types of problems that require a lot of resources. With the rise of project management today, there is a need to study feasibility.

Feasibility studies suggest that new ideas are likely to be created. That is, a project whose scope is likely to change. Feasibility studies are always beneficial to the system as it gives the business a clear picture of the proposed system. Feasibility analysis describes the viability of a plan proposal, business venture or idea.

Feasibility Analysis Reporting feasibility analysis is essential to how a particular proposal in the long run works or can handle future financial problems. One of the key objectives in this is that it helps managers focus on the system. In this way, there are reasons for not pursuing a feasibility study analysis proposal. The analysis determines whether the plan is a necessary resource for practicality, considering the operational aspect of the business when developing software.

Whether or not the business will generate enough cash flow and profit as needed in the business application, it will be exposed to the risks that come with it, and will be viable in the long term and will serve the founder's purpose. The software can be either a start-up business, an existing business purchase, an expansion of an existing business, or a new idea for an existing business.