Analysis of Organizational Theory Article Example | Topics and Well Written Essays - 500 words

Analysis of Organizational Theory - Article Example In business world saving time means saving money. So project managers problem is how to save time? So that they can save extra labor and power consumption which in turn results in the reduction in costs. Feasibility study plays an important role in the project development process. The feasibility study is nothing but an assessment of the product being developed in terms of the outcome, operational use and technical support in implementing the product. The criteria for feasibility study are economic feasibility, operational feasibility, and technical feasibility. The benefits or outcomes comprise economic feasibility. The total expenditure incurred in the development of the product is derived from the outcome of the product. Developing a product means changing from the old system to the new system. Development of the new product reduces processing saving the time, labor and power. In the new product, errors can be greatly reduced. Operational feasibility refers to the feasibility of the product to be operational. Technical feasibility refers whether the product supports the present market or not. It further refers to the pros and cons of the development. If the project management is unable to make significant changes in the new product then its going effect final outcome, which may result in client canceling the project. Developing a system that is more or less same as the older system is not conducive to the organization's future development. Products that work well at designing phase may not work in the implementation phase i.e. in the real-time environment. To make it work additional human resources and technical expertise may be required, which may take time and increase costs. The products developed by the organizations were tested again and again before introducing them into the real market. Generally, the products that work at initial phases fail at intermediate or final phases.