Term paper on Feasibility Study

1. Definition of Feasibility Studies A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it? Before you begin writing your business plan, you need to identify how, where, and to whom you intend to sell a service or product. You also need to assess your competition and figure out how much money you need to start your business and keep it running until it is established.
Feasibility studies address things like where and how the business will operate. They provide in-depth details about the business to determine if and how it can succeed, and serve as a valuable tool for developing a winning business plan. The feasibility study is a management-oriented activity.
The objective of a feasibility study is to find out if an information system project can be done and to
Projects are initiated for two broad reasons:
1. Problems that lend themselves to systems solutions
2. Opportunities for improving through: (a) upgrading systems (b) altering systems (c) installing new systems

A feasibility study should provide management with enough information to decide:
 Whether the project can be done?
 Whether the final product will benefit its intended users and organization?
 What are the alternatives among which a solution will be chosen?
 Is there a preferred alternatives?

2. Definition of Technical Feasibility Studies
Technological Feasibility' is established upon completion of a detailed program design or a working model [in regards to setting standards for software accounting].

This is important in regards to how to treat costs incurred with production of software products... before ['Technological Feasibility'] is established, costs are a 'Research + Development' expense. Once 'Technological Feasibility' established costs