A feasibility study is an investigation that, before the final go/no-go decision on a building project, examines whether the plan is technically, financially, legally and spatially viable. It results in a substantiated recommendation to proceed, adjust or stop.
Characteristics
The study belongs in the initiation or definition phase, before the final design. Among other things, it tests:
- The zoning plan or environmental plan and spatial fit
- The land position and ownership situation
- A rough cost-benefit estimate
- Preconditions, permittability and risks
The outcome is not a ready-made design but a weighing-up that makes clear whether the plan is realistic and under which conditions.
Applications
A client commissions a feasibility study to avoid spending money on a plan that later proves unworkable. Think of questions such as whether an office building can be converted into homes, whether a plot may be built on, or whether an investment will be profitable.
The recommendation forms the basis for the go/no-go decision. With a “go”, the project moves on to preliminary and final design; with “adjust”, the starting points are revised; with “no-go”, the project stops early, saving much money and time later on.
Related terms
- Schedule of requirements
- Building costs
- Zoning plan
- Final design
- Risk analysis
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