The client's business needs are analyzed, information about project participants is collected, and the requirements for the system are gathered and analyzed. The client's expectations for system implementation are studied and the proposed solution is offered. During the Feasibility Study stage, the project's goals, parameters and restraints are agreed upon with the client including:

• Project budget and rules for its adjustment;
• Project time frame;
• Conceptual problem solution.

The following tasks are performed at this stage:

• The project feasibility is estimated and the project scope is defined;
• Risks and benefits are identified;
• The project structure is elaborated;
• The project is roughly planned;
• The next project stage is planned precisely;
• Cost of the next phase is evaluated precisely and cost of the other phases - approximately;
• Functionality development priorities are defined;
• System creation risks are estimated.