Feasibility studies are carried out before design work on projects is going to commence. This is done to determine whether a project is viable and possible to execute at the same time. It is common to rely on feasibility studies, especially if a project gets marred in controversy or doubt. It is also common to bank on what the feasibility study has to say when you need funding support and have to convince potential investors to contribute in the project.
Projects, both big and small, can benefit from a feasibility study. It is a crucial tool that you can rely on when making a decision on whether you should commission a design or not, and how you should go about doing it. As a project, it is important to remember that feasibility studies do not hold any commitment after they have been completed. As a piece of work, it is a stand-alone undertaking where you will pay a previously agreed cost and should be completed within a specific timescale.
What to expect
When establishing a feasibility study, the manner in which it is carried out will be performed based on the specific outcomes that you expect. It is common for a feasibility study to help establish the scope of a project, the opportunities attached to it as well as potential constraints to the building and the site. It will also help ascertain what an appropriate budget should be while making sure that initial choices on designs will be laid out.
In some cases, more complex studies can be carried out where site investigations, certain operational needs and detailed costs will be involved. At the end of the day, the study aims to collate all the information in a format that is easy to read and understand.
Preparing the study
Our expert architectural designer will be responsible for preparing the feasibility study. In some cases, contributions from our partners in different disciplines may also be required, depending on the type of information needed. The end result will be in making sure that details from other disciplines are duly coordinated and incorporated into the report that will then be provided to you.
Costs and timeframe
How much the study is going to cost will be significantly affected by how complex it is required to be. The same thing is true for the length of time it will take to complete it. How much information you already have with you will also come into consideration. If you already have drawings and maps of the site where the feasibility study is to be conducted, then this will significantly lessen the amount of time it would require for the architectural designer to finish the report.
Why it matters
When you have a project in mind, you want to make sure that you have successfully explored the viability and feasibility of your ideas prior to investing a great deal of effort, time and money in setting it off. Identifying potential constraints and issues ahead of time makes it easier for you to find ways on how to work around them. This will considerably lessen the probability of discovering complications while the project is underway.
If you are in need of a feasibility study, we would be happy to help!