Assessing the Technical Feasibility of An Idea
How will you know if an idea or project will turn out technically feasible? Actually, it takes plenty of planning and brainstorming before coming up with an excellent concept. If you’re building an app, it may entail extensive research. Interaction with people in the industry, conducting surveys, and other such techniques to see how feasible your project is. In other words, research! That’s the only way you can hedge your bet before launching and really seeing what happens in the real world.
Feasibility Study
Experienced project managers opt for feasibility studies. A professionally-made study helps you identify the potential positive and negative outcomes of a project. You can also do this before investing a significant amount of time and money in a certain venture.
Your goal is to identify the potential problems that could arise if the project is pursued. It also determines whether you should pursue the idea taking into account key factors. You examine technical viability, costs and the impact of said factors.
Simply put, the two criteria for assessing probability are the cost and the required technical feasibility of the project. A well-designed feasibility study provides information on the financials, quantity and quality of the technology. It should provide information on the potential effects on human health, safety and socio-economic benefits of the product.
Objectivity becomes an important factor for the study’s credibility both for investors and for credit institutions. In fact, most companies conduct an economic feasibility study. It analyzes data to determine whether the cost of a potential new business will ultimately be profitable for the organization.
Minimum Viable Product
You can shape an idea into an app by thinking of it as a ‘Minimum Viable Product.’ To put it differently, consider the least amount of features that will make your product saleable in the market. Thus, you need to detail everything depending on the idea’s uniqueness. You either specify each feature or itemize only the major attributes. In any case, you now have the basis for your technical research.
At this point, you reach the difficult part. Two things that you should study:
- Can it be done?
- Can you do it within the available budget?
You may have to enlist the professional assistance of a capable technical person. Breaking down an idea into several parts makes it easier for you to split up your technical feasibility analysis. This strategy also enables you to figure out how much time it takes to develop the concept.
If you’re not tech-savvy, consult your technical adviser. Otherwise, begin your research on technology websites. Read popular and informative online publications.
Remember to focus first on the idea’s sustainability. Then, find out how long you can develop a fledgling concept. After this, you establish a rough picture of the feature’s. Then, do a ‘trial and error’ and repeat until you reach a final theory or vision.
Initial Outcome, Not Encouraging
Here’s the catch. What if your idea doesn’t seem technically possible? First, this is your first attempt. This could always be the possible result. However, don’t be disheartened. You can always rework the idea and make the necessary improvements.
What’s important is to assess your priorities and likely outcomes. Contemplate further if adjustments will veer away from your idea’s original purpose. Make use of your resources and opportunities. This may lead you to another better perspective and even lower your costs. Think positive about this development.
Your Bottomline
Normally, technical feasibility follows business feasibility. In short, if your brilliant idea has good business promise, then you are good to go to the next steps. At the moment, gather some more useful information. This can turn your app into a worthwhile invention.
