How do you evaluate feasibility and risks for system development?

1 What is feasibility and why is it important?

Feasibility is the degree to which a system development project can be completed within the available resources, time, budget, and technical capabilities. Feasibility is important because it helps you determine whether a project is worth pursuing, whether it meets the needs and expectations of the stakeholders, and whether it aligns with the strategic goals and objectives of the organization. Feasibility can be assessed from different perspectives, such as technical, economic, operational, legal, and social.

2 What are risks and how do they affect system development?

Risks are the potential threats or uncertainties that may negatively impact the system development project, such as technical failures, cost overruns, schedule delays, scope creep, user resistance, security breaches, legal issues, or ethical dilemmas. Risks can affect system development in various ways, such as reducing the quality and performance of the system, increasing the complexity and cost of the project, compromising the satisfaction and trust of the stakeholders, or jeopardizing the reputation and credibility of the organization. Risks can be identified, analyzed, prioritized, mitigated, or monitored using different techniques and tools.

3 How to evaluate feasibility and risks for system development?

Evaluating feasibility and risks for system development is a continuous and iterative process that should be performed throughout the system development life cycle (SDLC). There are various methods and tools that can be utilized for this purpose, such as a feasibility study, a risk management plan, prototyping, and testing. A feasibility study is a formal document with a problem statement, scope statement, list of alternatives, cost-benefit analysis, risk assessment, and conclusion. A risk management plan includes a risk register, risk matrix, risk response plan, and risk monitoring plan. Prototyping involves creating a simplified version of the system to test its functionality, usability, and acceptability. Testing verifies and validates the quality and performance of the system against specifications and standards. All of these techniques can help validate the feasibility and reduce the risks of the system by allowing early feedback to be obtained, errors and gaps to be identified, requirements to be refined, design to be improved, defects to be detected and corrected, compliance to be ensured, outcomes to be measured, and reliability to be ensured.

4 What are the benefits of evaluating feasibility and risks for system development?

Evaluating feasibility and risks for system development can provide several benefits for the project, such as improving decision making, enhancing communication, increasing efficiency, reducing uncertainty, and enhancing quality. This evaluation can help you make informed and rational decisions about the project, communicate effectively with stakeholders, optimize the use of resources and time, reduce uncertainty and ambiguity, and ensure that the system meets the needs and expectations of stakeholders.

5 What are the challenges of evaluating feasibility and risks for system development?

Evaluating feasibility and risks for system development can be difficult, especially when data is not readily available or easily obtainable. Additionally, data accuracy can be subject to errors, biases, or inconsistencies due to human or technical factors. Data analysis can also be complex and time-consuming depending on the amount, type, and format of the data. Finally, data communication can be challenging and sensitive depending on the audience, purpose, and context of the communication.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?