Introduction to Feasibility Studies for Construction Projects
To determine if your preliminary plans can be constructed according to your specifications, your project may require a
feasibility study, also known as a
feasibility analysis or
viability study.
Feasibility studies are preliminary studies that are undertaken in the earliest stages of a project to address and clear up doubts and address difficulties related to the proposed plans.
A well-designed and well-planned project feasibility study should determine:
- Whether or not the project is viable
- What site remediations need to be made in order to complete the project
- If another location would be better suited
source https://www.cdmg.com/building-faqs/feasibility-studies-for-construction-projects