Business Case and Problem Definition Task 1: Feasibility Study Last Chance Securities The IT director opened the department staff meeting today by saying "I've got some good news and some bad news. The good news is that management approved the payroll system project this morning. The new system will reduce clerical time and errors, improve morale in the payroll department, and avoid possible fines and penalties for noncompliance. The bad news is that the system must be installed by January 1st in order to meet new federal reporting rules, all expenses from now on must be approved in advance, the system should have a modular design if possible, and the vice president of finance would like to announce the new system in a year-end report if it is ready by mid-December." Conduct feasibility study for the above depicting the 4 aspects of feasibility study: a. Operational feasibility. b. Technical feasibility c. Economic feasibility (where the student can show TCO- Total Cost of Ownership. Tangible and Intangible Costs, Tangible and Intangible Benefits). d. Schedule feasibility (where the student can show Gantt Chart)