How to do a feasibility

study
You will need to ask the right questions, consider
getting expert help, write your study and decide
whether the project is feasible.

1. Ask the right questions

The questions a feasibility study should raise and answer
include:

Top-level issues

Is the need real? Is it best met by a building project, a refurbishment, an extension or a new
build? Or by changing existing work patterns and doing nothing?

Will the budget cover the type of building you want?

What alternative scenarios are being considered/should you consider?

What is the order of priority of the various elements and spaces? What is 'mission critical'?

Risks and constraints

Will increasing the budget improve the opportunity or reduce risk?

Will funding be available and at the right time?

Is the organisation capable of managing the project as it is developed?

Is the organisation capable of managing the finished project?

Are there funds and skills to manage the finished facility?

Can time constraints be met?

Are there any legal problems?

Site-specific issues

Is your chosen site/building suitable for the proposed function and business case?

Are there any potential site problems, such as poor ground conditions, inadequate utilities,
access or lack of expansion space?

Is planning permission likely to be granted?

What impact will your project have on the locality?

2. Consider getting expert help

You will usually need technical support to do a feasibility
study. Outside specialists such as architects, chartered
surveyors, estate agents, valuers and planners can help you
with this. Architects often take charge of feasibility studies
because of their experience of turning project
briefs into building designs.
It is important to be clear about how far a contract with a
consultant extends at this stage. A contract for a feasibility
study should not imply a subsequent appointment. It is unwise
to accept an offer to produce a feasibility study for no fee, as
the consultant may assume you will give them a further
commission.
However, case studies have shown that continuity between
the feasibility study team and the subsequent project can be
very helpful and reduce the waste of resources and
time. European procurement rules allow you to advertise for
single appointments for a team for the initial study, or with the
intention that the successful team will take your project to
completion, if it proceeds.

3. Compile your feasibility study

A feasibility study sets out the projects scope and should test
and refine the outline brief. It usually is made up of drawings,
diagrams and text.
When drafting the study, make sure that it defines the areas of
detailed work that are needed to take the project forward.

It also needs to cover the following aspects:

technical relating to the building or site possibilities, constraints and likely permissions
required

financial including initial fundraising, realism of future revenue streams and long-term cost
implications

organisational the ability of the organisation to do the project and any extra skills needed

programme the length of time needed, and any phasing issues.

4. Decide whether the project is feasible

A feasibility study is an advisory document. You need to
present its findings to your project board/steering group and
senior appointments so that they can make a decision about
whether or not to proceed. You may need to go back and
adjust your feasibility study.
You may wish to have some of your external advisors present
to discuss some of the more complex or controversial aspects
that the feasibility study raises.