Feasibility study Definition

Feasibility study in terms of software development and engineering stands for preliminary analysis that allows to assess the feasibility, viability and purpose of software system development process — ensuring how economically feasible your product will be, if it guarantees successful implementation, if it’s strategically aligned with your goals before you start the actual development process defining as well operational feasibility, schedule and legal requirements.

The whole process starts at project objectives, scope, requirements definition, data collection when you gather relevant information assessing technical needs, operational nuances, regulatory aspects; then you start analysis — all the collected data has to be investigated based on predefined criteria; risk assessment within identifying potential events and challenges comes aligned with summarizing of the feasibility study gathered data.