Making Sense of the Information AgeTM
A Web Site By David H. Gleason
No project should be undertaken without detailed cost estimates and scope controls. Even if a project is already underway, feasibility analysis can determine likely outcomes well ahead of time, giving stakeholders room to make good decisions. The following is a brief outline of the feasibility process.
There are four constraints to project success:
One can control three of the four. The fourth variable is independent. Furthermore, each variable must be evaluated separately and collectively to determine The right strategy for a project.
Cost-effectiveness analysis can include the following:
Project success depends on meeting the following requirements:
Complexity Analysis:Evaluate task estimates as the product of complexity multiplied by the experience and job knowledge of participants.Return on Investment (ROI):Calculate ROI over the proposed systems life cycle. Factor in costs, savings, strategic advantage and uncertainties.