Advantages :

$(i)$ Knowledge about the effects of $DNA$ variations among individuals can lead to revolutionary new ways to diagnose, treat and some day prevent the thousands of disorders that affect human beings.

$(ii)$ Besides providing clues to understanding human biology, learning about non-human organisms $DNA$ sequences can lead to an understanding of their natural capabilities that can be applied toward solving challenges in health care, agriculture, energy production, environmental remediation.

$(iii)$ Deriving meaningful knowledge from the $DNA$ sequences will define research through the coming decades leading to our understanding of biological systems.

$(iv)$ They can study all the genes in a genome, for example, all the transcripts in a particular tissue or organ or tumor, or how tens of thousands of genes and proteins work together in interconnected networks to orchestrate the chemistry of life.

Disadvantages :

$(i)$ It creates the problem of patenting of genes.

$(ii)$ Persons becomes more careless.

$(iii)$ people may abuse the knowledge obtained from the $HGP$