Mitigating the prior risk through feasibility studies and due diligence
WHY IS THIS NEEDED?
The course of action to be taken in a construction project depends on a variety of variables.
You might be having some common doubts:
WHAT WE DO?
We act as your source of expert advice in your construction journey. We are here to provide clarity and context to help you identify options to support your project. The purpose of this phase is to outline various scenarios so the project gets off to the right start.
We understand the risks associated with evaluating, planning, or designing a complex project. Our due diligence services and full-scale feasibility studies help mitigate these risks and provide increased confidence in the project strategy and outcomes.
WHAT can we offer?
Collab Management Group offers feasibility reviews as a stand-alone service as well as a component of its full suite of construction management services. In our experience, developing a strong management plan and carrying it out through construction- early in the process, easily pays for itself in the significant savings realized during construction. An in-depth feasibility study provides answers to questions and issues well before they manifest themselves during construction.
Through a feasibility study, you can determine if a plan or project is feasible and doable in order to determine if it should be pursued. It is possible to identify the strength and weaknesses of a plan through a feasibility study.
It is important to include the level of resources and technology required as well as the expected return on investment in a feasibility study.
Feasibility studies are beneficial in several ways, such as helping project managers discern the pros and cons of undertaking a project before investing significant resources and time into it. In addition to providing vital information, feasibility studies can aid a company’s management in avoiding risky business ventures.
○ Operational feasibility
○ Realistic project timeline
○ Economic feasibility
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