PROJECT FEASIBILITY STUDY - Is it right for you?
A feasibility study provides the owner with a summary of the challenges to be met and the opportunities to be gained in offering an architectural solution to any given scenario.
It is a low cost, invaluable first step in the process of gathering information and decision making required of stakeholders and owners.
Generally, architectural feasibility studies address the following questions:
WHAT do you want to build? WHY do you want to build it? HOW do you proposed to get it built? Time vs. Cost vs. Quality Project Delivery Methodology
WHAT do you want to build? This is a narrative description of the size and type of project under consideration. Are you considering leasing space or constructing a new building? Is an addition to your existing building the best option? Is purchase of an existing building an option? Do you want to be an owner or a tenant?
WHY do you want to build it? It is important to understand the driving motivation for the decision to construct any project. What are the intangible benefits to be gained in spending time and money in this venture? How will this project impact the profitability of the company? Will the project improve end user productivity? What about their sense of well-being?
HOW do you propose to get it built? What is your budget? How soon do you need the project completed? Which type of project delivery best meets your schedule and budget constraints? Is negotiated select team a viable approach for project delivery?
Time vs. Cost vs. Quality One of the most challenging decisions for all projects is the time vs. cost vs. quality equation. It is said that you can have control of any two of these variables in combination but not all three at the same time. If you want your project completed fast and for the lowest cost possible than you will sacrifice quality to some extent. If, however, you want quality and time is not an issue, than cost will become the driving force for completion of the project.
Project Delivery Methodology Critical path decisions made early in the project will save both time and money during the construction phase. Some of the most successful projects have been delivered by a team of architects and builders when the builder has been involved from the beginning along with the architect to provide insight and knowledge to the decision makers.
The invaluable insight provided by an architect through the feasibility study give clients the knowledge and insight they need to make the critical path decisions required for a successful project.
With a depth of experience in providing consulting services to clients, we highly recommend the use of a feasibility study for any client considering a construction project.
Contact us at Greenfield Architects
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