Discuss the relevance of each area of project feasibility in Information System Strategy
Some example of Information Systems are portals, websites, ERP systems, planning systems, data
warehouses, transactional systems. Their goal is to share information with the people who need it at
the point where action is required to allow decisions to be made and the business to function as it
should. However, managing a company's information needs can be difficult. It's almost unheard of to
come across a company that doesn't have any systems in place. The majority of organizations have
numerous; each performing a specific function, with duplicated data that does not always stay in
sync, which invariably does not integrate together, resulting in reporting inconsistencies, manual
effort, and regulatory nightmares. But it can be solve with the help of feasibility study.
The goal of a feasibility study is to discover and define the strengths and weaknesses of an existing
business or proposed project, as well as the opportunities and threats present in the environment, the
resources required for implementation, and the chances of success. It aids in decision-making and,
as such, must evaluate and predict all potential system strengths and weaknesses while in the
contemplative (thinking) phase in order to enable savings and prevent losses from occurring without
full implementation. Here are the areas of project feasibility:
Technical feasibility – determines whether existing technology can be used or if new
technology is required.
Economic feasibility – investigates the economic effects of the project or the availability of
funds to complete it.
Legislative feasibility – investigates potential conflicts between the conceptual system and the
institution's ability to discharge its legal responsibilities.
Operational feasibility – determines whether existing procedures and staff skills are compatible
or whether new procedures and training are required; and
Schedule feasibility – investigates the project's ability to be completed on time.
If we consider auditing of information system as the project, these aspects are more flexible
compared to the development of information system. However, it is recommended that we go through
them in order to examine all of the audit's strengths and weaknesses, opportunities and threats. In
the event that an internal auditor is hired, a feasibility study is conducted.
Cite 1 example from the 6 components of the Accounting Information System as to its
relevance also in ISS to ensure the success of IS project. (user/people/stakeholder;
data; established procedures; software; hardware/systems infrastructure, controls).
USER/PEOPLE/STAKEHOLDER; When considering information systems, it is easy to become
fixated on the technological components and forget that we must look beyond these tools to fully
comprehend how they integrate into an organization. The next step is to concentrate on the people
who work in information systems. People involved with information systems are an essential
component that must not be overlooked, from front-line help-desk workers to systems analysts,
programmers, and the chief information officer (CIO).
DATA; Consider data to be a collection of facts. Your street address, city of residence, and phone
number, for example, are all pieces of data. Data, like software, is intangible. Data points aren't
particularly useful on their own. However, when data is grouped, tracked, and organized into a
database, it can become a powerful tool for businesses.
ESTABLISHED PROCEDURES; Procedures, policies, instructions, and rules all make up a
significant portion of AIS. People who operate the accounting system will be perplexed if there are no
instructions or procedures to follow. For example, the AIS's budgetary control system will not function
properly if there is no procedure to follow when implementing budgeting functions.
SOFTWARE; A set of instructions that tells the hardware what to do is referred to as software.
Software is intangible and cannot be touched. When programmers write software, they are essentially
typing out lists of instructions that tell the hardware what to do. Microsoft Windows on a personal
computer and Google's Android on a mobile phone are two examples of operating systems.
HARDWARE/SYSTEMS INFRASTRUCTURE; the hardware of an information system is the physical
components of the technology that you can touch. Information systems hardware includes computers,
keyboards, disk drives, iPads, and flash drives.
CONTROLS; Internal controls are a critical operational component of any well-run organization. To be
effective, a system must be integrated into the organization's overall cultural atmosphere. These are
perfectly captured in the manner in which a business is controlled and managed.
REFERENCES:
https://www.waterstons.com/insights/articles/creating-information-systems-strategy
https://courses.lumenlearning.com/santaana-informationsystems/chapter/definition-and-components-
of-information-systems/
