Before committing to any new IT project, and finalizing its deliverables, you have to analyze the scope and the risks of the project along with the exact expectations of the client. Feasibility study gives the clear idea about the ability to complete a project successfully, investigating the positive and negative possible outcomes.
Our team of business analysts identifies the client's specific needs, its viability, suitable business model, management ideas, and economical aspects. The basic reason behind the failure of IT projects is generally lack of precise analysis and feasibility study. We, at Cygnet believe in offering a comprehensive analysis report of any requirements which makes the scenario clear to the service provider making them feel confident in signing the final deal. We strongly believe in the old adage "the problems well stated is half solved" and thus, narrate the clear picture of a project scope to the client.
Our feasibility study process covers the following steps to create an accurate report;
- The project scope
- The analysis of existing situation
- Requirement analysis
- The approach
- Examination of the cost-effectiveness
We begin by analyzing the project scope which is used to identify the business/ project problem and the opportunity it brings. We define the scope of the project in a way which picturize the current situation and the feasibility to complete the project as per the expectations and demand. We also concentrate keenly on the requirements of the client keeping it in mind to fulfill them without any flaws. The feasibility study, if done precisely, can increase the chances of any organization to deliver solutions which completely benefit the client as well the service provider. We make a report which gives you the answer of the following questions;
- Does the recommended approach fulfill the requirements?
- Is the expected solution feasible enough with the existing asset?
- Is the asked solution practical enough for the service provider?
- Does the service provider have the resources enough?
- Will this engagement be a cost- effective and mutually beneficial one?
The feasibility study is actually a way of thinking and not a rigid process. This helps the service provider be sure of the success of a project identifying the risks and criticality of delivery which becomes very crucial especially, when the amount of time and money involved are high and the project is quite complex. Reach us via firstname.lastname@example.org and get your project's feasibility study done to add more feathers of success in your crown.