Feasibility and Risk Analysis Report for Toys and Tiques

This report presents a feasibility and risk analysis for the proposed project of Toys and Tiques. The feasibility analysis evaluates the project's technical, economic, and organizational aspects, considering the company's capabilities, financial benefits, and legal compliance. The technical feasibility assesses the company's resources, including capital and personnel, to implement new systems like order entry and automated processing. Economic feasibility focuses on the potential for increased efficiency and profitability. Organizational feasibility considers legal and corporate structures. The risk assessment identifies potential hazards such as security threats, system failures, human errors, and natural disasters. References from Clifton and Fyffe (1977) and Goss (2009) are provided to support the analysis. The report also includes a summary of the business needs and requirements for both the feasibility and risk assessment.

Feasibility Analysis
The purpose of conducting a feasibility analysis is to understand the practicality of the
proposed project. It helps in understanding the underlying strengths and weaknesses of the
project and any likely opportunities and strengths that can hamper the project progress
(Clifton and Fyffe, 1977). Moreover, it helps in assessing the resources that are available to
move ahead with the project. Technical feasibility states the technical expertise the company
has to conduct the activity. The economic feasibility states the benefit the company will
receive on economic terms after the completion of the project. The organizational feasibility
assesses the legal and corporate structure of the business.
Technical Feasibility
Toys and Tiques has necessary capital to implement order entry system, automated system to
process forms, a system to track orders, and a system to handle mailing list and market
analysis. The company can operate and maintain the same as it is willing to hire two senior
computer operations personnel. The growing business of Toys and Tiques ensures that
business will be more profitable after the implementation of these systems as it is likely to
fast track the business process.
Economic Feasibility
The implementation of the proposed system will improve the speed with which the company
handles the daily tasks which might positively impact the growth of the company as it can
process more orders in short time.
Organizational Feasibility
The proposed system will not conflict with the legal requirements. The companies in the
country are allowed to process the customer data for their own purpose. However, any use of
the data against the good of the customers is not allowed. The company has the understanding
to follow the data protection regulations and the proposed project is comfortable with the
existing local and international law. As the company is willing to induct two employees to
handle the system, it can be stated that they will not face any issue.
Feasibility Analysis – Technical, Economic and Organizational
Project Sponsor:
Business Need: Conduct feasibility analysis for the system to be implemented to fast track the
operations
Business Requirements:
The project implementation is feasible for the business on all the three front, be it technical,
economic or organizational. The company inducts two personnel to handle the technical people
and are ready to invest in training people for the same. Economical improvements are likely to
take place after the implementation and the structure of the organization requires little changes.
The new implementation is in line with the local law and regulations.

Risk Assessment
The purpose of risk assessment is to understand or anticipate any likely hazards that may
occur during the project implementation or completion which may impact the project
progress. As the company is preparing itself for new information technology that is poised to
increase the operation efficiency and effectiveness, the company might face multiple
challenges while implementing the same (Goss, 2009). There might be the possibility of the
vulnerability of the system against the security threats. Such cases give chances to external
threats to steal the sensitive customer data. Moreover, there are risks associated with the
operation of the systems. Failure of hardware and software, malware, viruses, spam, scams
and phishing are the usual issues that confront any information technology establishment.
Human errors are also counted as the likely risk. The other risks associated with the project
are natural disasters, security breaches, and staff dishonesty.
Important Risks for the project
References
Clifton, David S, and David E Fyffe. Project Feasibility Analysis. New York: Wiley, 1977.
Print.
Goss, James. Risk Assessment. [London]: BBC Books, 2009. Print.
Risk Assessment
Project Sponsor:
Business Need: Conducting the Risk Assessment of the Project to be conducted
Business Requirements:
The project risk assessment has come up with certain risk associated with the project. The five
major risks are security risks, human errors, failure of hardware, dishonesty, and natural disasters.
The project development should have mitigation plan for the saem.