Great Idea, But Will It Work?
A Feasibility Study will take you further than simply assessing the Business Case of a proposition, in that it will help you to assess the viability on the technical and the business level. To execute on the idea, you need to understand what elements of technology are required, what the interplay between them would be, and the availability of suitable products from reliable software and technology vendors to ensure that the idea is more than simply great on paper.
A strong feasibility study will establish an outline technical and applications architecture, from which you can build your programme of deployment projects, as well as building the business case and change plan in more depth.
Will It Work for Us?
A Feasibility Study should examine where you expect to achieve your return on investment, assessing the business processes of your business functions to develop a preliminary understanding of what the impact on your business will be, and the degree of process change and people impact involved. It will also look at your internal capability to ensure you have the skills and resource capability to deploy the technology, and the implications to support and maintain it once it has been deployed.
A comprehensive feasibility study will often follow the Outline Business Case as the mechanism to continue the stakeholder buy-in process.
What Approach Will We Adopt?
The IT industry can be difficult to navigate, with claim and counterclaim from software vendors, and products that overlap in functional capability. Understanding whether your organisation is best suited to adopt third party products, or equipped to build bespoke applications, and the availability of suitable software or generic platforms from established vendors, can be difficult enough, without considering the relative immaturity of artificial intelligence. Your feasibility study should look to set out the fundamentals of the Buy vs Build question to determine the outline of systems architecture for you.
The technology may well be capable, but is your business able to take advantage? Support from an experienced third party will help you to work that out. To get started with your project, or simply discuss your ideas, call us on +44 113 242 3795.