Economic Feasibility
Economic analysis is the most frequently used method for evaluating the effectiveness of a new system. More commonly known as cost/benefit analysis, the procedure is to determine the benefits and savings that are expected from a candidate system and compare them with costs.
Market and Real Estate Feasibility
Market Feasibility Study typically involves testing geographic locations for a real estate development project and usually involves parcels of real estate land. Developers often conduct market studies to determine the best location within a jurisdiction, and to test alternative land uses for given parcels. Jurisdictions often require developers to complete feasibility studies before they will approve a permit application for retail, commercial, industrial, manufacturing, housing, office, or mixed-use project. Market Feasibility takes into account the importance of the business in the selected area.
Operational Feasibility
Operational feasibility is a measure of how well a proposed system solves the problems and takes advantage of the opportunities identified during scope definition and how it satisfies the requirements identified in the requirements analysis phase of system development.