Normative Model

Prescriptive model which evaluates alternative solutions to answer the question, "What is going
on?" and suggests what ought to be done or how things should work according to an assumption
or standard. In comparison, a descriptive model merely describes the solutions without evaluating
them. Used mainly as a standard for measuring change or performance.

Historical Modeling
The idea of historical modeling is to record changes to a system, instead of its state. The current
state of a system can be calculated from a history of changes, but not the other way around. The
history contains more information than the state.

History makes a number of operations easy that are difficult when dealing with state. Recognizing
and resolving conflicts between two parties, caching and synchronizing changes, and durably
transmitting messages all become simple operations. In traditional state-based modeling, these
operations require complex algorithms or specialized tools. These operations, however, are natural
by-products of a historical model.

Types of Feasibility Studies

A feasibility study is performed by a company when they want to know whether a project is
possible given certain circumstances. Feasibility studies are undertaken under many circumstances
- to find out whether a company has enough money for a project, to find out whether the product
being created will sell, or to see if there are enough human resources for the project. A good
feasibility study will show the strengths and deficits before the project is planned or budgeted for.
By doing the research beforehand, companies can save money and resources in the long run by
avoiding projects that are not feasible.

There are many different types of feasibility studies; here is a list of some of the most common:

 Technical Feasibility - Does the company have the technological resources to undertake the
project? Are the processes and procedures conducive to project success?
 Schedule Feasibility - Does the company currently have the time resources to undertake the
project? Can the project be completed in the available time?
 Economic Feasibility - Given the financial resources of the company, is the project something
that can be completed? The economic feasibility study is more commonly called the
cost/benefit analysis.
 Cultural Feasibility - What will be the impact on both local and general cultures? What sort
of environmental implications does the feasibility study have?
 Legal/Ethical Feasibility - What are the legal implications of the project? What sort of ethical
considerations are there? You need to make sure that any project undertaken will meet all legal
and ethical requirements before the project is on the table.
 Resource Feasibility - Do you have enough resources, what resources will be required, what
facilities will be required for the project, etc.
 Operational Feasibility - This measures how well your company will be able to solve problems
and take advantage of opportunities that are presented during the course of the project
 Marketing Feasibility - Will anyone want the product once its done? What is the target
demographic? Should there be a test run? Is there enough buzz that can be created for the
product?
 Comprehensive Feasibility - This takes a look at the various aspects involved in the project -
marketing, real estate, cultural, economic, etc. When undertaking a new business venture, this
is the most common type of feasibility study performed.

BENEFITS
benefits are results of some process or causation; what had been produced has positive utility
(useful) and is, thus, called benefit. This is an outcome evaluation: (i) positive, (ii) negative, or
(iii) neutral. In a production process, the product (widget) is considered benefit from turning raw
material in a production process. The pollution resulted in the production process in making the
widget also is the result but it has not utility (negative utility)---that is not considered benefit. The
steam or harmless vapor escaped from the process may be neutral and thus confers neither harm
nor benefit---a neutral outcome.

TANGIBLE BENEFITS: These are benefits that are readily measurable. The internet allows the
people all over the world to connect. It shortens distance and time, i.e. the world becomes smaller.
This "global community" is a tangible benefit. The time factor is both past and present (with
adequate data, we can also forecast the benefits into the future). Not all of these 3 potential time
tenses are present in intangible benefits.

INTANGIBLE BENEFITS: The utility is not readily measurable. Education may be an example.
A child starts at first grade until 12th grade to complete secondary education. The benefit of
education (ability to read, write, analyze, etc.) could not be seen until education is put to use.
Hence, a child could not see the benefit of learning algebra until some time in life when he/she
faces calculation problems in life or work. In this limited aspect, intangible benefits is not presently
manifest and is tied to future time.