Carrying out a feasibility study requires a lot of critical thinking, communication skills and a clear objective of what you want to achieve from the study. Businesses that implement Enterprise Resources Planning (ERP) systems encounter different obstacles and results. Therefore, conducting a feasibility study for these systems entails analysing the risks and benefits of implementing ERP.
- Skill level:
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Things you need
- ERP study material and resources
- Recording tools for interviews
Research extensively on ERP, how the system works in business settings, and the advantages and disadvantages experienced in its implementation. From research findings and interviews, outline a criteria or yardstick with which you will use to measure risks and benefits; that is the feasibility of the ERP system. As a student you will realise that feasibility studies only succeed to the extent that metrics guide the study.
Outline the necessity of implementing an ERP in a business. Generally ERP are implemented in an attempt to provide better customer service and to streamline business functions. Consider the effects that will result from an ERP system on all the functional units of an enterprise. Ask yourself it the results are geared toward accomplishing specific objectives and goals of the organisation.
Consider the costs of implementing an ERP. ERPs are extremely costly and overheads incurred include setting up extensive meshwork of software and hardware, consulting experts and vendors, training the staff and losses made due to service disruption. Focus on the Return On Investment and whether this is commensurate with the overall costs that you will incur. Take into account the anticipated timescale within which the effects of the system will be felt.
Account for the expected result after taking into consideration the necessity, the cost and the logistics of implementation. Are the anticipated benefits more than the anticipated setbacks? Is the timescale on Return on Investment feasible and meaningful to the overall financial disposition of the company? Will the performance measurements in the functional units improve, remain the same or depreciate?
Write a feasibility report to capture the findings, recommendations and alternatives to implementing an ERP. The report encompasses an abstract which summarises the product, the methods and tools used in carrying out the study. Discuss the findings in the main body, derive conclusions and make recommendations on the feasibility of an ERP system. Remember to indicate a reference page showing the sources of your findings and authenticate your study.
Tips and warnings
- Insight from vendors and ERP consultants is an effective source of first-hand practical information.
- Always write down findings, record interviews and reference your study appropriately to avoid plagiarism.
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