Feasibility Study

A construction feasibility study analyses the practicality and potential of a proposed construction project. It involves evaluating various economic, technical, legal, and environmental aspects to determine whether the project is viable and sustainable. The study aims to identify the strengths, weaknesses, opportunities, and threats associated with the project and to provide recommendations for decision-making. The feasibility study typically includes a site analysis, market analysis, financial analysis, and risk assessment. It helps developers and investors make informed decisions about whether to proceed with a project and, if so, how best to proceed with planning and implementation.

A feasibility study’s importance is based on the client’s desire to “get it right” before committing resources, budget and time. CHPK fire engineers can engage early with stakeholders and uncover new, creative and innovative ideas that provide a more flexible design.

Benefits of a feasibility study

The feasibility study determines the viability of the design options. It ensures that the project is technically feasible and economically justifiable. Based on our experience, the key benefits of conducting a feasibility study are:

– Improve the project team’s focus on fire safety during feasibility

– Provide valuable fire safety information for a “go/ no-go” decision

– Enhance the success rate by evaluating design parameters

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Fire Engineering on LinkedIn

Alternatively, you can send us a direct message on Twitter.