What is a feasibility study in the construction industry and what are its stages?
Understand the Problem
The text is providing an overview of the feasibility study process in the construction industry. It explains the importance and stages of conducting a feasibility study, including defining project objectives and assessing technical feasibility.
Answer
A feasibility study evaluates the viability of a construction project including scope, design, regulations, and finances.
A feasibility study in the construction industry is a preliminary analysis to assess the viability of a project. Its stages include defining the project scope, analyzing site and design, evaluating legal and regulatory requirements, conducting financial analysis, and producing a final feasibility report.
Answer for screen readers
A feasibility study in the construction industry is a preliminary analysis to assess the viability of a project. Its stages include defining the project scope, analyzing site and design, evaluating legal and regulatory requirements, conducting financial analysis, and producing a final feasibility report.
More Information
Conducting a feasibility study helps uncover potential issues and ensures that projects are not only technically but also financially viable before major investments are made.
Tips
Neglecting any part of the feasibility study process, such as underestimating legal and regulatory analysis, could lead to project failures.
Sources
- The web page with info on - Example Source - ghp.biz
- Feasibility Studies for Construction Projects - Design Buildings Wiki - designingbuildings.co.uk
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