Whether you’re looking to build a new manufacturing facility to expand your business or to install a park with funds raised by a neighborhood association, you want your construction project to succeed. One of the best ways to ensure your project will be completed successfully is to work with an experienced civil engineer to conduct a feasibility study.
A feasibility study is exactly what it sounds like: a careful analysis of plans, construction site, and other factors to determine if your potential project is likely to become a reality. For many projects, a feasibility study can prevent waste and failure while identifying potential issues before they cause problems.
In case you’ve dreamed a little too big
While you may be excited to get started on your big plans, breaking ground as soon as possible could result in serious delays and even the inability to complete the project. Communities, organizations, and businesses often have grand dreams about shaping the world around them. Sometimes, those dreams may not be as realistic as people would like. This is one reason why a feasibility study is so important. Before your organization invests thousands in a project it may not be able to complete as planned, you should hire a civil engineer to determine how likely you are to complete the proposed plans on schedule and on budget.
Identify issues before they become reality
Have you completed an environmental impact assessment? Have you already obtained the necessary planning permissions? Are there improvements that must be made or facilities at the site that could be repurposed or retrofitted for use in your project? Have you figured out what kind of maintenance and upkeep will be required? Have those costs been factored into your operating budget? Will you need to invest in special equipment or other unexpected costs due to environmental factors, such as a colder or warmer microclimate within the project area?
A feasibility study can explore all of these potential roadblocks and more. Of course, a feasibility study won’t just locate potential issues. It can also help your organization or business locate potentially overlooked assets such as helpful local resources.
Get a glimpse into the future
A feasibility study can show you how likely you are to complete a construction project on time before you even break ground. This can help you adjust marketing materials and signage to reflect a realistic completion date for the project.
Is your project going to be executed in a series of stages? Have you considered that future expansion may be required? Can your project easily be modified to include new spaces, like additional room for parking? Whether you’re installing a playground, park, or a commercial building, you may need to consider the potential for future expansion. A feasibility study will ultimately help you make accurate plans.