Many companies interested in estimating a Custom Logistics Software Development project tend to skip the Feasibility Analysis. Some feel that the document is unnecessary.
In this article, we leverage Potencia’s years of experience in preparing custom software proposals to provide you important suggestions when preparing a software feasibility analysis. Read on to learn why and when you need it and what any Feasibility Analysis should include.
Why Do I Need a Feasibility Analysis?
This analysis is a guide that describes your company’s needs and the related project requirements. Once created, this document can help your company streamline your vendor selection process and expedite your requests for quotations.
What Should it include?
Potencia recommends the following structure for creating a Feasibility Analysis:
- A General Project Description: Describes the purpose of the analysis and provides a summary of the problems that brought about the need for the project.
- Company Background: Provides the reader with a brief history behind your company, information about your products and services, company values , and what makes your company stand out from the competition.
- Project Goals and Target Audience: Informs the reader about the critical pain points that the software will aim to resolve. Also provides valuable information about the audience who will use be utilizing the software.
- Scope of Work: A detailed list of services that your company wants the supplier to provide (for example, business analysis, project management, software development, testing, etc.).
- Technical Details: You will describe the technical requirements of your project. This may include the platform on which the software must run, any specifications for data migration, as well as any required third party integration. The analysis should also discuss any constraints; it is important to provide as detailed information as possible, in order to minimize the risk of not capturing key requirements that are important to the outcome of the project.
- Project Terms & Conditions: Project calendar and expected deadline.
- Project Budget: The anticipated investment that your company is willing to consider.
- Supplier Requirements: Those formal and legal requirements that must be satisfied, for example: vendor location, payment policy, terms, and conditions.
- Selection Criteria: Defines the decision criteria utilized for supplier selection, for example: technical expertise, industry domain knowledge, experience in similar projects, estimated costs, speed of delivery, etc.
- Submittal Requirements: Describes what information a supplier must include in their proposals. Typical requirements include relevant case studies, testimonials, collective team experience. These requirements are usually accompanied by proposal acceptance windows.
While creating a Feasibility Analysis may sound like a lot of work, the ideal software development vendor will help you identify aspects of the project that you have not yet considered, while helping your company to properly estimate your project’s timeline and recommending the most suitable technology for your project.
Take that First Step Towards Launching your Project
Potencia is here to assist your company in creating its own Feasibility Analysis study.
Ready to make a real change? Let’s build this thing together. Feel free to contact us to receive a complimentary preliminary consultation for your custom logistics software development project.
GET YOUR FEASIBILITY ANALYSIS HERE
