An understanding of feasibility study

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An understanding of feasibility study

Market feasibility Fundraising feasibility study You should also bear in mind that complex or larger capital projects may require any number of technical and specific studies as the design development progresses.

These might include, for example, traffic or acoustic studies.

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While these kinds of highly specialized studies may have the potential to impact one part of the project plan, they will not affect its overall feasibility.

Preliminary Project Feasibility A preliminary feasibility study allows you to assess if a project idea is really viable before it has even reached the drawing board. During the early stages of a project, the feasibility study serves to test the project vision.

After sufficient research has been done, key stakeholders have been engaged, and a project vision developed, the feasibility study is then used as a tool to examine all of the factors directly and indirectly associated with the project.

The Beginners Guide to Understanding Feasibility Studies | Vision One Projects

The preliminary feasibility study has the potential to be the cold bucket of water, or the reality check that assesses viability against aspiration and project vision. In some cases, a feasibility study can explore a range of options for a project to determine which one, if any, are the best approach.

For example, inArtscape conducted a feasibility study for the Artscape Wychwood Barnswhereby several options for adaptive re-use of the Barns was presented and evaluated in the study.

Each of the options were evaluated and recommendations were made for the most feasible options. Artscape Wychwood Barns Feasibility Study Hundreds of members of the local community were engaged, along with a volunteer Advisory Council and experts in heritage preservation, affordable housing, environmental sustainability and capital fundraising to identify and analyze common ideas, issues and concerns surrounding the Barns.

The input was then used to craft goals and objectives for evaluating a range of re-use options.


Those options were studied based on a number of criteria set out in the feasibility study and were presented in the feasibility study report.

Of the options studied, all but one was capable of generating enough revenue to sustain operations. Apart from the uses that the options served, they were distinguished by a number of other factors such as the level of capital investment required by the City, the degree to which they served the public interest or delivered benefits to the community and their potential to leverage resources from other levels of government and the private sector.

The feasibility report revealed which of the options were feasible and provided recommendations for next steps. Click here for a copy of the Wychwood Barns Feasibility Study. Click here to read a Case Study of the Wychwood Barns A feasibility study may not give you a simple yes or no to the question of vision viability.

The study may identify important areas of the project that will require a re-think, such as the size or location of a project.

And while a feasibility study may give the project the green light, its recommendations may require some adjustment and refinements to the project vision.

Why Are Feasibility Studies So Important?

When you undertake a feasibility study, or select an expert consultant to do the work on your behalf, there are a number of important strategic, technical and organizational questions you need to answer before going forward with the project.

Strategic questions should include: Is the need identified in the project vision real and is the project vision best framed to serve that need? Does the project make sense financially for both the pre-development and capital costs and for the ongoing operational commitment?

What are the alternatives that you should consider?

An understanding of feasibility study

What is most essential to delivering the project vision? What is non-negotiable in terms of location, site, space typologies, and operating assumptions?Jul 14,  · The importance of a feasibility study is based on organizational desire to “get it right” before committing resources, time, or budget.

A feasibility study might uncover new ideas that could completely change a project’s Mukund. Autism Services in Connecticut A report from the Autism Feasibility Study Workgroup Recommendations to Enhance and Improve the Service System to Support.

A Typical Feasibility Study •Explain clearly and concisely the principal concept underlying your venture and what sets it apart from other businesses. Memorandum of Understanding for Conducting Feasibility Study.

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Market feasibility is an important part of a feasibility study when the plan of action deals with issues such as business expansion, new product or service launch, product development and starting up a business. At Cude, we strive to meet all our clients' needs by offering comprehensive services in-house.

Our services include civil engineering, planning and feasibility studies, drainage study and design, surveying and construction administration.

Proposal: Guidelines and Samples – Your Guide for Proposals and Feasibility Study