Qualitative Research Methods - Essay Example

The interpretive research method involves sharing of information and social constructions such as language. The interpretive method is used to understand the meaning of the given information that was assigned to the researchers. Critical research as the name implies concentrates more on the critical view of the subject. It highlights the critical viewpoint of the situation that has to be analyzed.  

FEASIBILITY STUDY

            A feasibility study is an important phase in the development process. It enables the developer to have an assessment of the product being developed. It refers to the feasibility study of the product in terms of outcomes of the product, operational use, and technical support required for implementing it.

            The feasibility study should be perform based on of various criteria and parameters. The various feasibility studies are:

                        Economic Feasibility

                        Operational Feasibility

                        Technical Feasibility

Economic Feasibility: It refers to the benefits or outcomes. We are deriving from the product as compared to the total cost we are spending for developing the product. If the benefits are more or less the same as the older system, then it is not feasible to develop the product.

The development of the new product should greatly enhance the accuracy of the system and cuts short the delay in the processing of the product. The errors can be greatly reduced and at the same time providing great level of security. Hence, we do not need any additional equipment except t memory of required capacity.

Operational Feasibility: It refers to the feasibility of the product to be operational. Some products may work very well at design and implementation but may fall in the real-time time environment. It includes the study of additional human resources required and their technical expertise.

            Technical Feasibility: It refers to whether the product that is available in the market fully supports the present trend. It studies the pros and cons of using a particular product for the development its feasibility. It also studies the additional training need to be given to the people to make the product work.

            The main goal of any market is to maintain equilibrium between apply and demand. But in most cases, the situation is quite contrary to that. Sometimes demands increase against the supply and sometimes it’s vice versa.

The below diagram shows the equilibrium status.