Feasibility report Table of content; • An overview of the report • Objectives of the reports • Need of the project • Review of existing system and innovation • Scope of the project • Project deliverables • Feasibility study • Considerations • Conclusions An overview of the report; Fine Arts is an auction store, fine arts considering a shift to an online auction platform to sell its current fine arts items online. Till now, fineArts has been limited to purchases in the local areas whereby the store is located. This has prevented fineArts from capitalizing on the growing trend of trying to conduct auction sites. Through selling its products through an online market, fineArts is able to sell its goods to a whole new audience, increase sales and growth forecasts and enable consumers to bid for their products from the comfort of their own homes. The consumer will also be able to subscribe locally through a web browser and participate in the auction from the internet. Objectives of the report • Application of the fineArts.com online web system • To register directly to the customer's website and engage in the auction • Characterize the auction items by their code, picture, definition and category. • To add, delete and change objects locally to the server using an application • To be able to view auction items using specific search features • may bids be placed. To need of the project FineArts is a shop that sells close-out creative work products. Physically they've been doing this for a serious long period. FineArts typically offers the best recognizable objects and works of art starting with a rise in cost and the base price. In the shop itself the start date and end point are explicitly announced. Customers will bring deals along those lines just on the off chance they have at the store. Since of this fineArts the bartering market has seen a vacuum. Assume a customer has a significant gathering upon the sale’s arrival, fineArts might miss a valuable customer and customer could lose a significant item he / she wants to purchase. Which could slow down the rate of fineArts growth completely. In fact, the author performed her online closing review globally and made clear that there is a large measure of web-based internet sell-offs. Therefore, fineArts.com aims to switch to an online distribution platform to offer persuasive artwork stuff over the Internet. The application gives inventory links to an employee's hand, and tracks items for sale. In addition, the client can now buy in locally and take part in the web-based bartering using their home's internet browser in solace. Equally, this would Customers spare time because they don't have to physically visit the shop, as things will be passed on to their door - step when they win the closing with the highest offer thus far. Scope of the project The project’s purpose is to include a user-friendly auction platform where the user can bid for goods from anytime and anywhere in the world without time or geographic boundaries. The online auction platform has also been developed as a web-based system to allow users around the globe to access the site from any computer, for example: smartphone, laptop, tablet, etc. Main Actors Associated The functions played by online auction system users are as follows. ▪ Clients ▪ ·Administer Main Use Case Associated ➢ User Requirements Administrator:• The user should be able to sign into the system and log. • The administrator must be able to introduce, delete and change objects to the auction using the server’s local software. • The administrator should be in a position to edit the price tag, the actual cost, the bid price rise, the time remaining until the auction ends. • The administrator must be able to classify objects through a code, image, definition, and class (i.e. painting, printing, silverware, etc.). Client:• Users should be able to register and log in successfully to the online auction framework. • Clients will be able to look at products on the auction, browse through different search / sorting tools, for example, by category, as well as other forms of quest (key phrase, price, auction end date, etc.). • After submitting to the auction, customers should be able to request and obtain a user ID and password, by supplying personal details. • Clients should only be able to position bids by registered users during the auction period, and only one or more bid amounts can be higher than the current bid. After the customer has registered to the auction, he / she will be able to access a personal page that will display all the items he / she attends to purchase. • Just after auction end point, the object should be allocated to customers with the highest bid, and no further bids will be approved. Review of existing System and Innovations There are no present systems in fineArts so far, as all is physically done Project Deliverables The online auction framework deliverables for the project are below. • Project proposal • Manual Project • Plan sketches. • Documents Architecture. • Work completed (Online Auction website). • Expert perception. • Prototype Product The feasibility Study A feasibility analysis assesses the capacity for achievement of the team; thus perceived impartiality is an important factor in the study's reputation for prospective investors and private lenders. There are 5 types of feasibility study — separate fields that are explored in a feasibility study, listed here, 01. Technical feasibility This evaluation focuses on the organization’s technological capabilities. It allows companies to assess whether the technological resources are reaching potential and whether the technical team is able to turn the concepts into working systems. Technical viability also requires assessment of the proposed system's hardware, software, and other technical specifications. A company wouldn't need to attempt to install Star Trek's transporters in their building as an unrealistic example—at present this idea is not technologically feasible. (Simplilearn.com. 2020) 02. Economic feasibility This analysis usually includes a cost / benefit overview of the project, which allows organizations to assess the feasibility, risk, and benefits of the organization before allocating financial resources. It also acts as an independent project appraisal and strengthens project credibility — helping decision-makers evaluate the potential economic benefits the planned project can bring to the company. (Simplilearn.com. 2020) 03. Legal feasibility This review examines whether any part of the proposed development is in accordance with legal requirements such as zoning rules, data security acts or legislation on social networking sites. Let's say an organization wants to build a new office building at a given location. A feasibility analysis could show the perfect spot for that form of company is 0not zoned for the company. That company has already saved significant time and energy in realizing from the outset that their proposal was not feasible.(Simplilearn.com. 2020) 04. Operational feasibility This evaluation includes conducting a study to evaluate and decide whether by finishing the work, how well, the needs of the company can be met. Operational feasibility studies may also analyze how a project plan suits the specifications defined in the system implementation specifications review process. (Simplilearn.com. 2020) 05. Scheduling feasibility This analysis is by far the most important one for success of the project; and besides, if not done in time, a system will fail. An organization estimates in the feasibility of scheduling how much time the project will take to complete. (Simplilearn.com. 2020) Considerations Considering the data presented in this feasibility report, it is proposed that fineArts.com supports the operation of the online platform and begins venture startup. The findings of this feasibility study indicate that this project would be of exceptional benefit to the organization and will have a high probability of success. The main findings and observations are as follows: 01. Technical feasibility: ❖ This is an online platform so to run some kind of technology has to be present. First of all, in order to create the website, a web page must be created; we want someone who is well informed for this, so web developers need to be recruited and paid in advance. ❖ Firstly, we should observe what are the facilities available to develop a web application (whether we have enough PCs) .Server machines have to be present to host the website and ensure that anybody who wants to access it is open all the time. Connection to a high-speed Internet connection can be essential for the development of a website. Thus, a good Internet Service Provider has to have decent Internet access. The system has to be update from time to time. Errors and bugs occur when the system is run daily, then they need to be fixed. Then reviewers and debuggers must be employed to locate any bugs on the website. ❖ Current web-based utility should be considered in order to reach current and future customers through strategies such as messaging records, special ads and commitment credits. ❖ Languages like HTML, CSS, PHP, and JavaScript will be used to build the website and MySQL for database. 02. Economic feasibility ❖ Using this approach, Fine Arts would be able to produce financial benefits for the organization by pursuing the perfect operating systems that can be highly profitable during the online auction process, and also provide the business with greater financial gains. ❖ It is important to measure the labor costs. Each staff needs to be paid relatively; Web developers, testers and debuggers, the ones who look just after servers as well as other electronic devices have to be compensated. ❖ FineArts.com will expand customer base in previous geographic areas where the stores are currently located. -- FineArts.com will also have the choice of distinguishing itself from its competitors and using motivational campaigns to attract new customers. 03. Legal feasibility ❖ It is the corporation's duty to ensure the website of the online auction is highly secure. The business should. Applying for some licenses showing that the website is legal, ensuring consumer security and most significantly ❖ Customers feel safe and at ease when using the website. The business should be completely conscious of the hackers and how sensitive corporate data will leak out. Reasonable steps should be taken to minimize vulnerability. 04. Operational feasibility ❖ First consideration should be given to the physical location of the company. It is an online auction website where people put and buy bids. There would also be a location where all the items can be stored, for example a huge store or a factory (plant) should be used to hold all the products. The goods must be shipped to the customer after putting the bids and shipping issues should also be taken into consideration. ❖ The system should be create by using user and the system requirements. We are creating a web application, then the software team should select a customer user friendly language. Also, when operating and devolving, it should be a language that fits the features we want. 05. Scheduling feasibility ❖ To build the website online, a certain time-limit should be set. To complete the entire program, it is possible to plan a time period of three to four months and if problems occur during the timeline, the development team will take the necessary solutions to solve the issue. ❖ Upon approval of this arrangement, the doled out undertaking group of fineArts.com will make a point-by - point schedule to integrate all tasks and perceptions, henceforth, practical plan. 06. Cultural feasibility ❖ We need to expand this business to the global market. There, our customers are all over the world, then our system has to adapt to all cultures, to fit all over the world. ❖ As the hypothetical says 'fineArts.com requires an online auction platform to purchase fine art objects on the Internet,' various people from different cultures around the world will be approached by the organization. The company must also have a website which is capable of embracing any popular culture. This can be done through the Study of Cultural Viability. Conclusion FineArts.com’s feasibility report includes a succinct overview, the aims and the task's need. Consequently, the achievability report contains the extent of the undertaking that includes the basic entertainers relevant to the online clearance sale platform, and a Use Case map was drawn for it. For fineArts, the safety of its employees above was being followed. For fineArts.com, the above safety of its employees was performed to ensure that the online closure system generated is feasible for the corresponding rules: technological, economic, operational, cultural, legal and scheduling. Finally, contemplations were written for the practicality study carried out for fineArts.com's previously listed requirements.
