Feasibility Study

Correct Answer: Evaluate current processes and map them against proposed system capabilities

The best approach for assessing operational readiness during a feasibility study is to evaluate current processes and map them against proposed system capabilities. This method is most appropriate because: - It focuses on the practical alignment between existing operations and the new system - It helps identify gaps and potential challenges early in the process - It provides a realistic assessment of implementation feasibility - It maintains a manageable scope for the feasibility study The other options are less suitable because: Conducting extensive interviews with all departments is too broad and time-consuming for an initial feasibility study. This approach could lead to scope creep and delay decision-making. Analyzing historical performance metrics alone does not adequately address the compatibility between current operations and the proposed system's capabilities, though it may be useful as a secondary measure. Creating detailed workflow diagrams and comparing them to external standards is too detailed for a feasibility study phase and may not reflect the organization's unique operational needs.

Correct Answer: Cost-benefit ratio and ROI calculations

The cost-benefit ratio and ROI calculations should be the primary criterion evaluated during a feasibility study because: Financial viability is fundamental to project success and organizational sustainability. If a project cannot demonstrate a positive return on investment, it may not be worth pursuing regardless of other factors. While other factors are important, they are secondary considerations: Technical architecture alignment is important but becomes relevant only after financial viability is established. Operational impact and resource allocation are implementation considerations that follow the initial financial feasibility determination. Stakeholder feedback and change management, while valuable, are execution phase concerns that become relevant after the project's basic financial viability is confirmed. The ROI and cost-benefit analysis provides the foundational justification for project initiation and helps organizations make informed decisions about resource allocation and project priorities.

Correct Answer: Early identification of major project risks and constraints

The most valuable outcome of a feasibility study is identifying major project risks and constraints early in the project lifecycle. This is crucial because: 1. It helps organizations make informed decisions about project viability before significant resources are invested 2. Early risk identification allows for better risk mitigation planning 3. Understanding constraints helps shape realistic project boundaries and expectations 4. It can prevent costly changes and pivots later in the project The other options are less valuable because: Schedules and timelines, while important, are typically developed after confirming project feasibility and understanding key constraints. Stakeholder expectations and communication plans are important but are usually addressed in detail during project planning after feasibility is established. Technical specifications are typically developed much later in the project lifecycle and depend on the initial feasibility assessment findings.