FEASIBILITY STUDY
Our highly experienced project finance experts carefully assess the project proposal to deliver the information that investors need to base their decisions on. As a trusted independent third party, we can help in:
- Determine if the project is viable and if any conditions need to be met before investment
- Gain accurate information on potential projects based on a thorough review of specifications, licenses and permits, location and site visits, economic analysis, and supplier qualification
- Assess risk accurately through our careful analysis
- Feasibility Studies edited
Our feasibility services include:
- Design review
- Site visit
- Tender support
- Specifications review
- Support in the selection of suppliers and subcontractors
- Permits and licenses review
- Financial returns review
- Costs forecasts
TYPES OF FEASIBILITY STUDY
Dolmen’s feasibility analysis evaluates the project’s potential for success; therefore, perceived objectivity is an essential factor in the credibility of the study for potential investors and lending institutions.
There are five types of feasibility study—separate areas that a feasibility study examines, described below:
This assessment focuses on the technical resources available to the organization. It helps organizations determine whether the technical resources meet capacity and whether the technical team is capable of converting the ideas into working systems. Technical feasibility also involves the evaluation of the hardware, software, and other technical requirements of the proposed system. As an exaggerated example, an organization wouldn’t want to try to put Star Trek’s transporters in their building—currently, this project is not technically feasible.
This assessment typically involves a cost/ benefits analysis of the project, helping organizations determine the viability, cost, and benefits associated with a project before financial resources are allocated. It also serves as an independent project assessment and enhances project credibility—helping decision-makers determine the positive economic benefits to the organization that the proposed project will provide.
This assessment investigates whether any aspect of the proposed project conflicts with legal requirements like zoning laws, data protection acts, or social media laws. Let’s say an organization wants to construct a new office building in a specific location. A feasibility study might reveal the organization’s ideal location isn’t zoned for that type of business. That organization has just saved considerable time and effort by learning that their project was not feasible right from the beginning.
This assessment involves undertaking a study to analyze and determine whether—and how well—the organization’s needs can be met by completing the project. Operational feasibility studies also examine how a project plan satisfies the requirements identified in the requirements analysis phase of system development.
This assessment is the most important for project success; after all, a project will fail if not completed on time. In scheduling feasibility, an organization estimates how much time the project will take to complete. When these areas have all been examined, the feasibility analysis helps identify any constraints the proposed project may face, including:
- Internal Project Constraints: Technical, Technology, Budget, Resource, etc.
- Internal Corporate Constraints: Financial, Marketing, Export, etc.
- External Constraints: Logistics, Environment, Laws, Regulations, etc.
THE IMPORTANCE OF DOLMEN'S FEASIBILITY STUDY
The importance of Dolmen’s feasibility study is based on the organizational desire to “get it right” before committing resources, time, or budget. A feasibility study might uncover new ideas that could completely change a project’s scope. It’s best to make these determinations in advance, rather than to jump in and learn that the project won’t work. Conducting a feasibility study is always beneficial to the project as it gives the stakeholders a clear picture of the proposed project, below are some key benefits of conducting a feasibility study:
- Improves project teams’ focus
- Identifies new opportunities
- Provides valuable information for a “go/no-go” decision
- Narrows the business alternatives
- Identifies a valid reason to undertake the project
- Enhances the success rate by evaluating multiple parameters
- Aids decision-making on the project
- Identifies reasons not to proceed
- Internal Project Constraints: Technical, Technology, Budget, Resource, etc.
- Internal Corporate Constraints: Financial, Marketing, Export, etc.
- External Constraints: Logistics, Environment, Laws, Regulations, etc
BENEFITS OF THE FEASIBILITY STUDY REPORT
Preparing a project’s feasibility study is an important step that may assist project managers in making informed decisions about whether or not to spend time and money on the endeavor.
The results of your feasibility studies study are summarized in a Dolmen’s feasibility report, which typically comprises the following sections.
- Executive summary
- Specifications of the item or service
- Considerations for the future of technology
- The marketplace for goods and services
- Approach to marketing
- Organization/staffing
- Schedule
- The financial forecasts
- Recommendations based on research
