Identify and describe the five types of feasibility that must be considered throughout the system development life cycle

What will be an ideal response?

Answer: These five types of feasibility are technical, operational, legal, scheduling, and economic.
Technical feasibility asks the question of whether the planned system can be developed and implemented using the technology that exists today.
Operational feasibility focuses on the question of whether the organization possesses the human resources capable of designing, implementing, and operating the proposed system, and whether people can actually use the system and will use the system.
Legal feasibility deals with issues of federal and state law compliance, administrative agency regulations, and any contractual obligations the company may have.
The focus of scheduling feasibility is the question of whether the system can be developed and implemented within the time allotted.
Economic feasibility tackles questions of whether the system benefits will outweigh the time, money, and resources used to develop it. Capital budgeting models are used to evaluate the costs versus benefits of a system. The capital budgeting techniques of a payback period, the net present value (NPV) of cash flows, and the internal rate of return (IRR) can be incorporated as part of the economic feasibility component of the feasibility study.