Systems Analysis and Design (Shelly Cashman Series) (MindTap Course List)
11th Edition
ISBN: 9781305494602
Author: Scott Tilley, Harry J. Rosenblatt
Publisher: Cengage Learning
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Question
Chapter TPC, Problem 1RQ
Program Plan Intro
Economic feasibility of a project and importance of TCO.
Expert Solution & Answer
Explanation of Solution
To know the economic feasibility of a project, we must
study the feasibility analysis which includes the current market demand, the projected growth in the market over the future, projected cash flow, estimating revenues and profiles of the customers and organisations associated.
Total cost of ownership (TCO) is important because it contains the total cost starting from manufacturing the proposed system to its overhead prices, so, when we invest in a system, we may get to know how much we are paying for that product. Reducing TCO reduces the cost so, many organizations use TCO to keep a tab on their expenses.
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Students have asked these similar questions
How do you know if a project is economically feasible? Why is TCO important?
How can you tell if a project is financially viable? What is the significance of TCO?
If you are working on long term project i.e. 2-3 yrs long project which methodology you will use? And why discuss in detail
Chapter TPC Solutions
Systems Analysis and Design (Shelly Cashman Series) (MindTap Course List)
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Similar questions
- What plans do you have in place to modify the project scope if necessary? When it is inevitable that business needs will change, which SDLC model should be used? Justify?arrow_forwardHow do you account for potential technological advancements when estimating costs for a project that spans multiple years?arrow_forwardIf an organization currently lacks the skills necessary to make a project technically feasible, how would you rectify the situation? Explain your answer.arrow_forward
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