What is mean by Feasibility study ?

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Feasibility study is analysis of project whether the project is viable or not by accessing the operational, technical, economic and organizational point of view. Feasibility study is important step in any software development, because it makes analysis of different aspects like cost required for developing and executing the system, the time required for each phase of the system and so on.

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A feasibility study, as the name suggests, is designed to reveal whether a project/plan is feasible. It is an assessment of the practicality of a proposed project/plan.
It is conducted in order to objectively uncover the strengths and weaknesses of a proposed project or an existing business. It can help to identify and assess the opportunities and threats present in the natural environment, the resources required for the project, and the prospects for success. It is conducted in order to find answers to the following questions:

1) Does the company possess the required resources and technology?
2) Will the company receive a sufficiently high return on its investment?

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Feasibility analysis is used to determine the viability of an idea, ensure that a project is legally, technically, and economically justifiable. This studies will tell the project is worth to invest or not. Feasibility study id important step to do in any project, it is use to identify and assess the opportunities and threats present in current situation.

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What is mean by Feasibility study ?

Feasibility study is to check whether is project or product is feasible to build
Need to check technical , financial, economical, operational, league factors in feasibility study
Feasibility study is done prior to project execution

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A feasibility study is an analysis of solution alternatives or options to determine whether and how many options can provide an expected business benefit to meet the business need.  It also implies the possibility of doing a project within some time constraints like technology, budget, and time. The feasibility analysis is an integral part of formulating a major business transformation project.

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A feasibility study  takes place by conducting preliminary analysis, preparing the document and reviewing.

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The feasibility study involves understanding the problem and then determining the various possible strategies to solve the problem. These different identified solutions are analyzed based on their benefits and drawbacks, The best solution is chosen and all the other phases are carried out as per this solution strategy.

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Feasibility study analyses that all the aspects of project including stakeholder requirement, budget, timeline, legality etc are feasible or not. It is very important to do feasible study before starting a project to ensure the success of project.