After making system requirement analysis the next step is to make analysis of the software requirement. In other words feasibility study is also called software requirement analysis. In this phase development team has to make communication with customers and make analysis of their requirement and analyze the system. By making analysis this way it would be possible to make a report of identified area of problem. By making a detailed analysis on this area a detailed document or report is prepared in this phase which has details like project plan or schedule of the project, the cost estimated for developing and executing the system, target dates for each phase of delivery of system developed and so on. This phase is the base of software development process since further steps taken in software development life cycle would be based on the analysis made on this phase and so careful analysis has to be made in this phase.
For details, visit Feasibility Study.