Evaluating A Feasibility Study?

Assess strengths and weaknesses of the research project in meeting the aims or hypothesis (M3)

Operational feasibility is the process of examining the likelihood the project will attain its desired objective (Valacich, 2009). The purpose of this goal is to understand how the new point of sale system will work at Hoosier Burger and if it will solve their new problems encountered by the high demand of their products.

You are now tasked with developing a research plan that would best support the research objectives that you have just chosen. You consider your options and narrow them down to the following three.

Imagine you are hired by a new start-up company. You are tasked to recognize and explore a new business opportunity of creating a new product or service for your company. As part of your new business vision, you will create a business plan describing all keys elements of the business opportunity which will ultimately be presented to an executive team in a venture capital group for possible funding and execution.

Focus so much on the facts of the present or past. That is really important to define project feasibility.

Technical feasibility: Checks the organizations current technology. Asking the question “will it handle the suggested new system?” If the current technology does not, this would mean that the company would need to upgrade software or hardware or both to make it technically feasible. If the current technology can handle the new system, then it would be technically feasible without any technical upgrades.

Of course, a feasibility study can be done before writing the summary business plan, or during, but there is a reason why I suggest you do it after. It is my belief that by freely sketching out your idea first, you will know whether it is worthy of extensive research before you commit to this time consuming task. There is no harm in using the feasibility study as a template instead.

Comparing and contrasting any business proposal can be a little confusing when there is little to no knowledge of what either of the proposal really stands for or mean. Every business has the opportunity for change or to seek change. These business environments are potential projects that intermingled with the start of a new product. Depending on the company or organization’s focus, will determine which proposal is best to provide a basic and statistical approach to researching similar to the general products that are on the market. Initiating these researches will give specific product either a saturated appeal or if the product will ripen the business's

Review the context of the research problem- One must think carefully and focus on the teamwork. This helps the researcher to determine the findings of their project and it will produce enough information to be worth the cost. One has to identify the environmental variables through which it will affect the research project.

In any sort of research, it is vital to have an excellent hypothetical platform. Such a platform forms the premise of the considerable number of phases of research. The three methods for examination include distinctive strategies. Thus, the speculative plans are distinctive for the three techniques. This paper looks to assess the particular hypothetical designs for quantitative, qualitative, and mixed methods. The qualitative methods do not usually involve statistical analysis. Then again, the quantitative methods essentially include the statistical analysis. Every one of these perspectives might be inspected while defining the hypothetical design for the research.

Therefore, scenario planning can be used as a tool to analyse the feasibility of a plan and evaluate how realistic it is to achieve set objectives as a part of the mission (Schoemaker, 1995).

Wiebe (2010) state that plausibility will bring different meaning as regard to the purpose of study. In some cases, it has to do with determining whether a case study is worth conducting; in others, it might mean determining whether the theory derived from the case makes sense, or whether the case rings true.

–Feasibility analysis takes the guesswork (to a certain degree) out of a business launch, and provides an entrepreneur with a more secure notion that a business idea is feasible or viable.

A respectable business is always looking for ways to better serve their customers, especially a cooperative, but this is sometimes easier said than done. To help determine how achievable a better service would be for a business a feasibility study is often preformed. The Farmers Cooperative Association of Snyder, OK is interested in purchasing an automatic truck probe as well as building an additional receiving pit and leg to attach to the existing wheat tanks. So, a feasibility study was preformed to determine if either option would be a practical investment.

physical format of a business plan or feasibility study. Submission of this document is a