Assessing feasibility involves a comprehensive analysis, often broken down into several key dimensions:
Technical Feasibility: Evaluates whether the organization has the technical capability to execute the plan. This includes assessing existing
technology infrastructure, expertise, and innovation capacity.
Economic Feasibility: Analyzes the financial aspects, such as
cost-benefit analysis, return on investment (ROI), and overall financial impact on the organization.
Legal Feasibility: Considers regulatory and compliance issues that might affect the implementation of the plan. This includes understanding legal constraints and obligations.
Operational Feasibility: Looks at the practical aspects of implementing the plan within the existing operational framework. This involves evaluating
operational processes, workflows, and human resources.
Market Feasibility: Assesses market conditions, customer demand, and competitive landscape to determine whether the plan aligns with market realities.