Feasibility analysis involves eight steps:
1. Form a project team and appoint a project leader.
2. Prepare system flowcharts.
3. Enumerate potential candidate systems.
4. Describe and identify characteristics of candidate systems.
5. Determine and evaluate performance and cost effectiveness of each candidate system.
6. Weight system performance and cost data.
7. Select the best candidate system.
8. Prepare and report final project directive to management.
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