A feasibility study is an analysis of the viability of an idea. This study focuses on helping answer the essential question of “should we proceed with the proposed project idea?” All activities of the study are directed toward helping answer this question.
This is an essential part before moving on to the building design and construction. Once a site has been chosen for the future structure, the study can begin. During this period, the site is thoroughly examined in order to determine whether it is a suitable place to construct the building.
Once the study is complete, those involved in the project can decide as to whether to proceed with that location in mind, based on the information that has been collected. Alternatively, if the study determines that a location is not suitable, another study can be conducted for a different site.
Eluvial Enterprise factors many components when carrying out a feasibility study.
Questions the Study Answers
BUDGET - Does the site fit the project's budget? Are there certain factors that could potentially end up costing more than the allocated amount?
IMPACT - What is the impact that construction will have on the surrounding area? Is there another site that would be better suited due to a minimal impact?
POTENTIAL ENVIRONMENTAL PROBLEMS - Is the ground suitable for construction? Can it support a plumbing system, or the weight of a building? Is the site located near any areas known for their environmental issues?
SITE HISTORY - What was located at the site previously? Was it a similar building, and if so, what happened to it? What relevant information is there about the site's history?