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Why A Feasibility Study Is Important In Construction Projects

For some people, building a structure is simply getting a contractor and completing the project. But in reality, there are a lot of studies that are conducted to ensure the success of the project. Which is why conducting a feasibility is an important part of a building construction process.

Feasibility study consultants in UAE submit complete details of their case study before any project is accepted. Their feasibility study usually includes:

  • Technical viability assessment of the project

 

This may be the most important part of the study. The data in this section would determine whether a project can be feasibly done in terms of the technical aspects. This section would predict the project’s success rate based on the hard materials, labor, and other requirements and services that will be provided by the construction company. Through the technical report, experienced engineering consultants in UAE can tell if the project can be done or not.

  • Legal scope of the project

 

One of the things that should be considered and most often overlooked by both client and most suppliers is the legal aspect of the project. In this section, the feasibility consultants will look into the capacity of both parties to execute the project in a legal manner. This would also include the case studies concerning the laws and regulations of the jurisdiction with regards to building structures and what will be the requirements and process for permits and licenses.

 

  • Overall estimated cost of the project

 

Costing is definitely one of the deciding factors whether a project will be green lighted or not. At this stage, the client would need to see how much money would be spent on the project. The crucial part of this section is the breakdown of the project costing wherein the client will see how much will be spent in labour, materials, and other aspects of the project. The estimate should be accurately depicted and based on the current market pricing and fair industry standards.

 

  • Operational approach to be implemented

 

Every project is unique and requires a different approach based on the specs and requirements. This section would state what kind of operational and management approach would best fit the project, given its requirements, scope and limitation. An initial plan of action will be presented to the client to see how the firm will go about the project and what is the estimated duration and completion date of the project.