Developing technology solutions without feasibility studies in place is like sailing uncharted waters – you‘re heading towards rocky terrain without a map or compass.
These assessments serve as the guiding stars ensuring software aligns to business objectives, fits budget, capability and deadline realities, while clearing legal hurdles.
This handbook will illuminate feasibility analysis best practices tailored to IT environments. I‘ll overview the 6 core feasibility study types – shining light on how each guides software projects safely to harbor.
You‘ll walk away with actionable frameworks to amplify planning, resources to benchmark efforts against industry standards, as well as warning signs of inadequate analyses sinking outcomes.
Why Over 29% of Software Projects Fail
Let‘s establish why so many promising software ideas veer way off course. Per research firm Standish Group‘s Chaos Report, only 29% of IT projects succeed – meaning they are completed on time and budget meeting requirements.
Software project failure and success rates – Standish Group Chaos Report
The report called out root causes like:
- Lack of user input
- Unsupported technologies
- Unclear requirements
- Unrealistic expectations
These failure triggers directly tie to feasibility assessments. For example, economic feasibility uncovers unrealistic budgets, while technical reviews reveal unsupported technologies.
Let‘s now examine the 6 feasibility lenses to mitigate these risks. Each serves as a guiding star realigning projects drifting towards chaos.
1️⃣ Organizational Feasibility
Organizational feasibility confirms that projects fulfill strategic goals without exceeding team capabilities.
Key areas organizational feasibility studies assess
Vetting this alignment early prevents situations like:
✅ Spending $500k+ developing software that fails to move revenue needles
✅ Building visually impressive interfaces users in the field can‘t actually utilize
You uncover misalignments through techniques like:
- Stakeholder interviews: Ask leaders if projects fulfill target outcomes
- Surveys: Gather staff input on support capabilities
- Gap analysis: Pinpoint gaps between goals and problems solved
For example, a gap analysis may reveal that while an app modernizes interfaces, it doesn‘t accelerate customer conversions – thus lacking strategic relevance.
Solid organizational feasibility provides clear lines of sight linking software to concrete growth opportunities.
Without those connections, even the most polished apps flop escaping lengthy requirements reviews.
Pro Tip: Create traceability matrices mapping features to strategic goals for quick validation checks.
2️⃣ Economic Feasibility
Economic feasibility compares software costs against financial ROI to confirm sound investments.
Key projections made include:
- Development, testing and ongoing budgets
- Infrastructure upgrades
- Projected cost savings
- Revenue increases
For example, an automated QA testing suite for $100,000 may seem expensive, but save $150,000 annually in manual testing resource needs.
Proper economic analysis requires building detailed cost models tallying all relevant outlays like:
Sample economic feasibility cost model
Without those projections, it‘s impossible to anticipate cost overruns that drag projects past the point of no ROI return.
And the costs of skimping on economic diligence are staggering. Just look at Denver International Airport‘s automated baggage system debacle.
The initial $200 million system ballooned to $1 billion by the time it was scrapped unfinished. The heavily mechanized tracks concept looked slick on paper – but clear data models would have revealed the impractical economics.
Pro Tip: Build safety margins of +20% into cost models to allow for unexpected scope creep.
3️⃣ Technical Feasibility
The most polished UI still flops when the underlying technology can‘t support functionality or scale demands.
That‘s where technical feasibility studies come in – ensuring your:
✅ Infrastructure capacity
✅ Developer skills
✅ 3rd party capabilities
…are primed for the project.
Conducting an audit of current vs. required technology early on avoids headaches like:
Examples of technical feasibility failures without proper assessments
To confirm preparedness, have architects and developers review:
✅ Processing power needed
✅ Data storage volumes
✅ Network throughput
✅ Cloud platform strengths
This analysis should highlight platform gaps to address through expansion or RFP inclusion.
You also survey programmers on competencies across languages like:
- C#
- JavaScript
- Python
- Java
Any skills deficits should be accounted for via training programs or temporary contracting.
Quick Check: Can your infrastructure handle a 10x increase in users over 12 months? How about a doubling of data warehouse needs – yes or no?
If the answer is no for hot growth scenarios, back to the technical drawing board!
4️⃣ Operational Feasibility
The most common source of software failures often boils down to operational adoption issues.
Developers can meticulously code elegant programs – but they still require receptive end users and seamless workflows to deliver value.
That‘s why operational feasibility reviews how system updates and process changes impact staff across teams.
Look out for red flags like:
❌ Poor application UI/UX frustrating employees
❌ Misalignment with existing operational protocols
❌ Inadequate training resources
Each dampens adoption, rendering software ineffective despite technical soundness.
You proactively assess readiness by:
- Workflow analysis: Map current procedures against modernizations
- Skills assessment: Gauges team capabilities to utilize new tools
- UI/UX testing: Confirms intuitive, pleasing designs
Building transition timelines and identifying capability gaps lets you instill training programs and change management ahead of rollout.
The key is recognizing operations extend beyond development staff to the broader end user ecosystem.
5️⃣ Legal Feasibility
What good is software that instantly puts your company in legal crosshairs?
Legal feasibility reviews avoid exactly those regulatory and compliance failures.
Your legal team should evaluate factors like:
✅ Data regulations – GDRP, HIPAA, PCI DSS, SOX and so on based on geography and industry
✅ Security protocols – Penetration testing and authority approvals
✅ Privacy standards – opt-in requirements for collecting user data
✅ Trade restrictions – Global customs, export and trade laws
Skirting those guidelines opens devastating Pandora‘s boxes like:
- Class action lawsuits
- Steep non-compliance fines
- Criminal fraud charges
Seeking diligent sign-off from legal and compliance groups is mandatory long before release.
For example, a Swedish data analytics company was fined €7 million failing to get user consent for personalized ads following GDPR.
Those are terrifying but avoidable missteps with proper feasibility reviews.
6️⃣ Schedule Feasibility
The most technically impressive software holds zero value beyond deadline than expected delivery.
Which is why schedule feasibility reviews development timelines, resource needs and dependencies to meet release targets.
Roadblocks like slow infrastructure procurement, complex requirements gathering or inadequate testing can torpedo outcomes without Tolerances.
That‘s why staged schedule analysis looks at:
Overview of major schedule feasibility analysis elements
Building reasonable buffer cushions into the critical path avoids pressuring teams towards rushed releases.
And the data is clear on connections between aggressive deadlines and failures. For example, a study found only 35% of large IT projects finish within initial time estimates due to poor scheduling practices.
So take the time upfront thoroughly modeling schedules tied to scope and resources.
Conclusion – Let Feasibility Guide Your Software Success
This overview illuminated why feasibility serves as the essential compass for software engineering.
Taking the time to chart alignment across 6 critical dimensions – organizational, economic, technical, operational, legal and scheduling – steers outcomes through prevention barriers.
Otherwise it‘s incredibly easy for promising concepts to drift towards rocky terrain once deployed in complex enterprise environments.
So do your future technology initiatives a favor – thoroughly investigate feasibility factors before casting off.
The hidden icebergs uncovered may shift plans. But that‘s infinitely preferential to watching entire programs and budgets sink months into building.
Now you‘ve got complete visibility into conducting targeted feasibility studies tailored to software projects. So utilize these assessments to take the risk out of innovation, allowing your team to deploy winning solutions that drive real business impact.
