Application 1: Feasibility Analysis
How do you determine whether a project is one your development team (and the organization as a whole) should consider? Performing a feasibility analysis enables you to figure that out. In this Application, you use a non-IT scenario to practice this important skill.
Consider the following: You have just graduated from college and are beginning your first professional job. Until now, you have been using mass transportation to get to school, but that may no longer be the optimal choice for getting to work. You think your best option may be to buy a new car.
In 2-3 pages, perform a feasibility analysis on the purchase of a new car. Although a full feasibility analysis for an IT system will include organizational, economic, and technical components, for the purposes of this Application, limit your analysis to the following:
Economic considerations, including ROI, risks, cost benefits (tangible and intangible), and net present value (NPV) for the next 5 years Organizational factors, in this instance, you and your business needs for the car.
Conclusions you reached by doing this analysis. (Is buying a new car your best option? Why or why not?)