Question

Georgia was contacted by the CEO to research if adding a new data center makes sense for the organization from an economic and operational stand point. Georgia agreed to perform a(n) ________.

Answer 1

Georgia was contacted by the CEO to research if adding a new data center makes sense for the organization from an economic and operational stand point. Georgia agreed to perform "Feasibility Study".

What is Feasibility Study?

A feasibility study is an analysis that determines the chance of successfully completing a project by taking into account all pertinent economic, technical, legal, and scheduling issues.

The purpose of feasible study is-

• An initial investigation of a prospective project or endeavour to assess its merits and viability is known as a feasibility study.

• An unbiased analysis of a proposed project's technical, economic, financial, legal, and environmental issues is intended to be provided through a feasibility study.

There are four main elements that go into a feasibility study-

1. Technical feasibility: The process of finding out how you're going to manufacture your good or service to see if it's feasible for your business is called technical feasibility.
2. Financial feasibility: Your project's financial viability is determined by its financial viability. A cost/benefit analysis is part of a financial feasibility report and it examines
3. Market feasibility (or market fit): Product-market fit occurs when an entrepreneur spots a gap in the market and develops a solution that consumers desire to purchase.
4. Operational feasibility: The degree to which a proposed system resolves issues, seizes opportunities identified during scope definition, and satisfies requirements found during the requirements analysis stage of system development is measured by its operational feasibility.

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