Answer to Question #300619 in Computer Networks for joaan

Question

. Define the following terms: (25) a) Feasibility study b) Feasibility Report c) Project d) Data Collection e) Gantt Chart 2. What are the reasons why we should do a feasibility study (15) 3. Name and explain 5 components of feasibility study (20) 4. Difference between (20) a) Business plan and Feasibility report b) Primary and Secondary data collection 5. List and explain 5 types of Data collection(10)

Answer 1

25.

a. Feasibility study. Determines if a proposed plan or project is practical. A feasibility study examines a project's practicality in order to assess whether it is likely to be successful.

b. Feasibility report. This a a document that evaluates possible approaches to a business challenges or opportunities and identifies which of them are realistic for future investigation.

c. A project is a one-of-a-kind, short-term effort conducted to attain specific goals, which can be measured in terms of outputs, results, or benefits. A project is generally considered a breakthrough if it meets the goals according to the established standards, on schedule, and on budget.

d. Data collection. The process of collecting and quantifying information on variables of concern in an organized manner that allows researchers to answer research questions, testing hypotheses, and assess results.

e. Gantt chart. This is a project management tool that depicts the progress of a project. It usually contains two segments: on the left, a list of activities is outlined, and on the right, a timeframe with scheduling bars that is used to illustrate tasks.

2.

Feasibility study enable project managers to determining a project's or business venture's feasibility by considering different variables that can contribute to its accomplishments. The study also indicates the prospective returns on investment as well as any threats to the venture's achievement.

15) 3.

Demographics analysis. A demographic analysis evaluates data from the United States Census Bureau and other reliable population sources of data.

Competitive assessment. Competitive assessment evaluates what is already accessible on the market.

Pricing analysis. A pricing analysis examines competitor prices and incorporates survey data to determine how much customers plan to pay for the new product or service.

Online survey. Online survey component offers information on a variety of aspects, including competitor familiarity, interest in the new product or service, prices, prospective customers, and the most effective ways to sell the product to customers.

These surveys usually consist of 15 to 30 questions and take three to five minutes to finish.

Stakeholder interviews. When it pertains precise questions on the next moves, advertising, and what makes a product more or less attractive, stakeholder interviews are a wonderful way to get answers.

20)

a. A feasibility report educates the businessperson on the profit possibilities of a business idea or opportunity, while a business plan helps the entrepreneur raise the required start-up capital from investors.

b. The term "primary data" refers to the the first hand data gathered directly by the researchers themselves. Polls and surveys, observation, studies, questionnaires, personal interviews, and so on are all examples of primary data. Secondary data collection refers to data gathered previously by someone else. Publication, blogs, booklets, academic journals, organizational records and government reports are some of the examples secondary data.

5.

Closed-ended Surveys and Online Quizzes. They are focused on queries with predefined response possibilities for responders to choose from.

Questionnaires and open-ended surveys. The fundamental distinction between the two is that closed-ended surveys have predetermined answer possibilities from which participants will have to choose, while open-ended surveys provide participants much more latitude and discretion in offering their responses.

One on one Interviews. In qualitative research, face-to-face interviews are among the most frequent methods of data collection. The interviewer gathers information straight from the interviewee in this situation.

Focus groups. The focus group data gathering technique is similar to an interview, except rather than being done one-on-one, it is done in a group setting.

Direct observation. Usually, the data collector adopts a consultative approach, monitoring the environment in which the targets of their investigation are present while gathering information, video/audio recordings, pictures, and other forms of documentation.