Types of a Feasibility Study

I. Operational Feasibility
A measure of how well the solution of problems or a specific solution will work in the organization. It is also a measure of how people feel about the system/project.
Questions to be asked: Is the problem worth solving, or will the solution to the problem work? How well would the candidate solution be received from management, system users, and organization perspective? (political) Is the solution compliant regulations? (legal) with laws and

II. Technical Feasibility

A measure of the practicality of a specific technical solution and the availability of technical resources and expertise.
Questions to be asked:

Is the proposed technology or solution practical? Can a solution be supported with the existing technology or not? Does the company have the technological resources to undertake the project? Are the processes and procedures conducive to project success?

III. Schedule Feasibility

A measure of how reasonable the project timetable is.
Questions to be asked:

Does the company currently have the time resources to undertake the project? Can the project be completed in the available time? Given our technical expertise, are the project deadlines reasonable?

IV. Economic Feasibility

A measure of the cost-effectiveness of a project or solution. This is often called a costbenefit analysis. Questions to be asked: How Much Will the System Cost? What Benefits Will the System Provide? Tangible benefits Intangible benefits Is the Proposed System Cost-Effective? Given the financial resources of the company, is the project something that can be completed?

Other feasibility factors: Marketing Feasibility

Will anyone want the product once its done? What is the target demographic? Should there be a test run? Is there enough buzz that can be created for the product?

Real Estate Feasibility

What kind of land or property will be required to undertake the project? What is the market like? What are the zoning laws? How will the business impact the area?

Resource Feasibility
How much time is available to build the new system, when it can be built, whether it interferes with normal business operations, type and amount of resources required, dependencies, and developmental procedures with company revenue prospectus.

Cultural Feasibility
What will be the impact on both local and general cultures? What sort of environmental implications does the feasibility study have?

When Are They Done? Feasibility studies should be undertaken any time that a completely new project, process, vendor is being used, or business is being built. A feasibility study can not only provide the direction but also will define the focus for your team.