Assignment No.

-15
Aim- Prepare technological feasibility report of a chosen product/service

Information-
What is a feasibility study? As the name implies, a feasibility study is used to determine the
viability of an idea, such as ensuring a project is legally and technically feasible as well as
economically justifiable. It tells us whether a project is worth the investment in some cases, a
project may not be doable. There can be many reasons for this, including requiring too many
resources, which not only prevents those resources from performing other tasks but also may
cost more than an organization would earn back by taking on a project that isn't profitable.

A well-designed study should offer a historical background of the business or project, such as
a description of the product or service, accounting statements, details of operations and
management, marketing research and policies, financial data, legal requirements, and tax
obligations, Generally, such studies precede technical development and project
implementation.

l. Technical Feasibility this assessment focuses on the technical resources available to the
organization. It helps organizations determine whether the technical resources meet
capacity and whether the technical team is capable of converting the ideas into working
systems: Technical feasibility also involves evaluation of the hardware, software, and
other technology requirements of the proposed system. As an exaggerated example, an
organization wouldn't want to try to put Star Trek's transporters in their building currently,
this project is not technically feasible.

2. Economic Feasibility this assessment typically involves a cost/ benefits analysis of the
project, helping organizations determine the viability, cost, and benefits associated with a
project before financial resources are allocated. It also serves as an independent project
assessment and enhances project credibility helping decision makers determine the
positive economic benefits to the organization that the proposed project will provide.
3. Legal Feasibility this assessment investigates whether any aspect of the proposed project
conflicts with legal requirements like zoning laws, data protection acts, or social media
laws. Let's say an organization wants to construct a new office building in a specific
 location. A feasibility study might reveal the organization's ideal location isn't zoned for
that type of business. That organization has just saved considerable time and effort by
learning that their project was not feasible right from the beginning.
4. Operational Feasibility this assessment involves undertaking a study to analyze and
determine whether and how well the organization's needs can be met by completing the
project. Operational feasibility studies also analyze how a project plan satisfies the
requirements identified in the requirements analysis phase of system development.
5. Scheduling Feasibility - this assessment is the most important for project success, after all,
a project will fail if not completed on time. In scheduling feasibility, an organization
estimates how much time the project will take to complete.
When these areas have all been examined, the feasibility study helps identify any
constraints the proposed project may face, including:

• Internal Project Constraints: Technical, Technology, Budget, Resource, etc.

• Internal Corporate Constraints: Financial, Marketing. Export, etc.
• External Constraints: Logistics. Environment, Laws and Regulations, etc.

Benefits of Conducting a Feasibility Study

The importance of a feasibility study is based on organizational desire to "get it right" before
committing resources, time, or budget. A feasibility study might uncover new ideas that could
completely change a project's scope. It's best to make these determinations in advance, rather
than to jump in and learning that the project just won't work. Conducting a feasibility study is
always beneficial to the project as it gives you and other stakeholders a clear picture of the
proposed project.
Below are some key benefits of conducting a feasibility study:

• Improves project teams focus

• Identifies new opportunities

• Provides valuable information for a "go/no-go" decision

• Narrows the business alternatives

• Identifies a valid reason to undertake the project

• Enhances the success rate by evaluating multiple parameters

 • Aids decision-making on the project

• Identifies reasons not to proceed

Overview
A feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an
existing business or proposed venture, opportunities and threats present in the natural
environment.
the resources required to carry through, and ultimately the prospects for success. In its simplest
terms. the two criteria to judge feasibility are cost required and value to be attained.
A well-designed feasibility study should provide a historical background of the business or
project, a description of the product or service, accounting statements, details of the operations
and management, marketing research and policies, financial data, legal requirements and tax
obligations. Generally, feasibility studies precede technical development and project
implementation.
A feasibility study evaluates the project's potential for success; therefore, perceived objectivity is
an important factor in the credibility of the study for potential investors and lending institutions.
It must therefore be conducted with an objective, unbiased approach to provide information
upon which decisions can be based

Formal definition
A project feasibility study is a comprehensive report that examines in detail the five frames of
analysis of a given project. It also takes into consideration its four Ps, its risks and POVs, and its
constraints (calendar, costs, and norms of quality). The goal is to determine whether the project
should go ahead, be redesigned, or else abandoned altogether
The five frames of analysis are: The frame of definition, the frame of contextual risks; the frame
of potentiality, the parametric frame; the frame of dominant and contingency strategies.
The four Ps are traditionally defined as Plan, Processes, People, and Power. The risks are
considered to be external to the project (e.g., weather conditions) and are divided in eight
categories: (Plan) financial and organizational (e.g., government structure for a private project);
(Processes) environmental and technological; (People) marketing and sociocultural; and (Power)
legal and political POV's are Points of Vulnerability: they differ from risks in the sense that they
are internal to the project and can be controlled or else eliminated.
The constraints are the standard constraints of calendar, costs and norms of quality that can each
be Technical feasibility
This assessment is based on an outline design of system requirements, to determine whether the
company has the technical expertise to handle completion of the project. When writing a
feasibility report, the following should be taken to consideration:
A brief description of the business to assess more possible factors which could affect the study

• The part of the business being examined

• The human and economic factor
• The possible solutions to the problem

At this level, the concern is whether the proposal is both technically and legally feasible
(assuming moderate cost).
The technical feasibility assessment is focused on gaining an understanding of the present
technical resources of the organization and their applicability to the expected needs of the
proposed system.
It is an evaluation of the hardware and software and how it meets the need of the proposed
system

Method of Production
The selection among a number of methods to produce the same commodity should be
undertaken first. Factors that make one method being preferred to other method in agricultural
projects are the following
Availability of inputs or raw materials and their quality and prices.
Availability of markets for outputs of each method and the expected prices for these outputs.
Various efficiency factors such as the expected increase in one additional unit of fertilizer or
productivity of a specified crop per one dunum.

Production Technique
After we determine the appropriate method of production of a commodity, it is necessary to look
for the optimal technique to produce this commodity.

Project Requirements
Once the method of production and its technique are determined, technical people have to
determine the projects' requirements during the investment and operating periods. These include:
Determination of tools and equipment needed for the project such as drinkers and feeders or
pumps or pipes...etc.
Determination of projects' requirements of constructions such as buildings, storage, and
roads etc. in addition to internal designs for these requirements.
Determination of projects' requirements of skilled and unskilled labor and managerial
and financial labor.
Determination of construction period concerning the costs of designs and consultations
and the costs of constructions and other tools.

Conclusion
We prepared technological feasibility report of a chosen product/service.

Dated Sign
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Teacher
Related Related (25)
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Name — Prasad Sharad Chavan

Enrollment No-2115320270
Roll No- 18