Perceptions regarding the value of feasibility studies conducted for information technology projects in the South African financial services sector

Abstract

ABSTRACT The use of technology can be a critical differentiator for an organisation in the financial industry. Successful implementation of IT projects is hence important for financial services companies. Project Management methodology encourages conducting a feasibility study to enable successful implementation. This study explores the perception of the value of feasibility studies conducted for IT projects in South African organisations within the financial industry. In depth semi-structured interviews were used to gather the perception of these feasibility studies with people working as IT consultants, project managers or those in strategic positions in financial services organisations. The main findings were that a feasibility study for IT projects is considered as optional, due to time and budgetary constraints. Though technical feasibility still needs to be established, it is extrapolated from prior similar experiences.IT consultants and organisations are working towards overcoming these constraints and to conduct the feasibility study to the required detail, so that IT projects are successful.