Now that we’ve determined the project is financially viable (Phase 2), we’ll now focus on the infrastructure-side of the project. Note, there is no set order to analyze the following four factors; however, all four factors (see below) need to yield a positive outcome to validate project-feasibility. Our team does a ‘deep dive’ into Phase 3 Feasibility to expose the risk factors and how to mitigate them.
- Resource Feasibility – What resources are needed and are there enough available to complete your project on-time? Is there enough human capital available to hire for the project and your business? With labor shortages and global supply-chain issues, multiple-factors that were previously of little concern must now be taken into consideration.
- Technical Feasibility – Do you have the technical knowledge + technical resources to start and complete the project; and to operate your business? This can range anywhere from skilled labor to a proprietary software program.
- Operational Feasibility – Is your business feasible to operate within the limits of current technology? How will you deliver your products or services to market? Operational Feasibility covers a wide range of factors pertaining to how you will Operate and Model your business.
- Scheduling Feasibility – Sounds Simple. Wrong! Is there enough time and resources to complete your project on-time? This is more relevant now than ever before. If the project is delayed, the bank or lender may withhold the next stage of funding. Will you put a flex-rate in the construction contract to protect the general contractor from sporadic building-material price increases (which happen all the time)? If the budget is constrained, project-delays are inevitable. Are you developing a project in an unpredictable climate (weather) where you can only work certain times of the year? Are you working in a volatile region with security risks?
We welcome all inquiries and would be glad to discuss your feasibility study needs.
Tel: 1+305-780-4942 (Text Messages + WhatsApp = OK)
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