The Importance of Project Feasibility Reporting
Perhaps the most important thing you can do when beginning a job is a project feasibility study.
Clients have financial, economic, and design objectives. Meeting these objectives while managing costs is a challenge for the architectural team as well as for contractors, construction managers and consultants. A viable project integrates both quality design and effective cost management.
A feasibility study analyzes all of the aspects of a project, such as financial and other resources, technical aspects and market demand. It also includes site analysis, code and zoning research and in some cases, an energy analysis. Feasibility studies can create a planning process to test assumptions, identify the scope of work, estimate budgets, build confidence in the project and make the project vision a reality.
The architect tailors each feasibility study to meet the needs of the client. It usually begins with a site evaluation to determine if the site is suitable for the intended project. Building code and zoning reviews establish whether the project will comply with applicable ordinances and rules.
For example, if the client wants to put an addition on their building, the feasibility study will determine if it is legal and propose possible alternatives or variances. After the architect develops a design, the next step is a budget. Based on square footage and using industry standards, construction costs are estimated. For most condominium or co-op projects, the information generated is available for presentations to committees and boards when seeking funds for the project.
A well-researched feasibility study can go far towards identifying challenges and in some cases, avoiding future problems with the project. An experienced architectural firm will meticulously research and create the necessary reports.
Contact us for more information on our project feasibility and zoning reporting services.