What Can You Expect to Gain from a Construction Feasibility Study?
With any major construction project, planning is the key to success. And a large part of planning entails understanding the viability of the project.
At Rose Design Build, Inc. we utilize feasibility studies to help drive decision-making to ensure timely execution. These studies provide valuable insight into the property value, soil conditions/traffic patterns, feasible designs, and construction costs associated with your project.
While feasibility studies may vary in complexity, size, and environment, the end goal is the same: delivering a solution that improves the constructability and operability of the facility while minimizing risks.
Before you dive into your next construction project, consider how you can benefit from a feasibility study with an experienced design-build team.
What is a Feasibility Study?
In order to know what is possible for your building project, including existing conditions, building codes, local regulations, and other legal restrictions, a comprehensive feasibility study takes a closer look at your investment and assesses opportunities for improvement.
Understanding these restrictions help make the most of the project goal while also ensuring that the development is completed correctly and legally.
For example, let’s say a project includes a building taller than four stories. Due to building regulations, an elevator needs to be included. Evaluating these factors in the beginning can help minimize risks while ensuring you develop the best plans possible for your execution.
How You Can Benefit
Depending on your project goals, a feasibility study can offer you numerous benefits:
- Reduces conflict in facility planning
- Provides confidence for your plan, timeline, and budget
- Minimizes risk and helps you avoid mistakes
- Helps you make informed decisions
When Should a Feasibility Study be Performed?
A feasibility study can be tailored to just about any circumstance, timeline, or budget. However, they are best performed at the beginning of each construction project.
This may be at the time of the initial site purchase, or while renovating a building. Gathering the assets of feasibility will be most beneficial at the drafting and idea stage of the construction project.
At Rose Design Build, Inc. our in-house architects and construction specialists work closely together at the beginning of a construction project to create a viable project plan.
Types of Feasibility Studies
Depending on whether your construction project is new or a renovation, feasibility studies can highlight different aspects of project planning. A comprehensive feasibility study may focus on:
- Site analysis
- Detailing the zoning restrictions
- Value of the land and property
- Geological risks, soil conditions
- Traffic patterns around the site
- Feasible conceptual designs
- Costs to build and repair
- Restrictions on remodeling or expanding your facility
- Scheduling restrictions and legal obligations
Execute Your Next Project with a Design-Build Partner
At Rose Design Build, Inc. we offer comprehensive, reliable feasibility studies to ensure your building’s longevity and durability.
We can help you understand exactly what your options are for a project and how best to deliver it, as well as what it will cost and how long it will take.
Our team of experts are here to support you in growing your business and achieving success in your industry. Contact us today to organize your next feasibility study for your latest construction project!