Sketch design and feasibility service is vital for developers and is of use for homeowners too. Would you like to change your property, but are not sure how this will look? Are not sure how much it will cost and would like to explore various options relatively quickly? Our sketch design and feasibility study we can help with achieving these before committing to works.
What is a feasibility study? As the name implies, a feasibility study is used to determine a viability of an idea, such as ensuring a project is legally and technically feasible, as well as economically justifiable. It tells whether a project is worth the investment—in some cases, a project may not be doable. There can be many reasons for this, including requiring too many resources, which not only prevents from performing other tasks but also may cost more than an organization would earn back. With our sketch design and feasibility study we can help to assess these risks.
A feasibility study evaluates the project’s potential for success; therefore, perceived objectivity is an important 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 :
- Technical Feasibility
- Economic Feasibility
- Legal Feasibility
- Operational Feasibility
- Scheduling Feasibility
A complete feasibility study for developers should include a historical background of the business or project – accounting statements, details of operations and management, marketing research and policies, financial data, legal requirements, and tax obligations. Generally, such studies precede technical development and project implementation.