How to make a feasibility study for building construction – Valeska Pack

19 Mar 2019
Bylisawoodward

Valeska Pack, SpaceShapers – Chiswick Member

The first things a client will always need to know before venturing on any kind of building project are:

– How much will it cost versus how much profit I can make / its worth to my me or my business?
– How long will it take to design and build versus how much disruption it will cause?
– What are the long term benefits to me or my business versus the short term disruption?

These questions are critical to answer before committing to any project.

This is why it is commonplace to commission a Feasibility Study for building construction.

It enables us to answer all of these questions before any monetary outlay or legal commitment to a project. At SpaceShapers, we conduct these kinds of feasibility studies for most of our clients whether they are housebuilders, commercial entities or government bodies needing to provide for community projects such as schools or stations. A feasibility study for building construction is a preliminary study that we undertake in the very early stage of a project.

The purpose of a feasibility study for building construction is to:

– Establish whether the project is viable.
– Help identify feasible options (designs and build areas related to cost and programme).
– Assist in the development of other project documentation such as the business case, project execution plan, and strategic brief.

On large or complex projects, we may carry out a number of different feasibility studies. Sometimes they may require different skills, and consider issues such as:

– Planning permission.
– The likelihood that an environmental impact assessment will be required.
– Other legal/statutory approvals.
– Analysis of the budget relative to client requirements.
– Assessment of the potential to re-use existing facilities or doing nothing rather than building new facilities.
– The assessment of any site information provided by the client.
– Site appraisals, including geotechnical studies, assessment of any contamination, availability of services, uses of adjoining land, easements and restrictive covenants, environmental impact, and so on.
– Considering different solutions to accessing potential sites.
– Analysis of accommodation that we might include or exclude.
– Assessment of the possible juxtaposition of accommodation and preparing basic stacking diagrams.
– Assessing operational and maintenance issues.
– Appraisal of servicing strategies.
– Programme considerations.
– Procurement options.

We may need to consult various stakeholders, statutory authorities and other third parties in the preparation of a feasibility study for building construction.

Our SpaceShapers Building Project Management Team will be able to advise which parties will be relevant for a particular project. The assessments we carry out will be presented in a structured way, so the client can decide whether or not to proceed to the next stage.We can help you understand exactly what your options are for a project and how best to delivery it, as well as what it will cost and how long it will take.

Please check our BUILDING PROJECT MANAGEMENT Page for further information.