The feasibility studies stage considers the options for satisfying the client's needs, preparing a business case for the preferred option and deciding whether to proceed with the project.
The purpose of feasibility studies is to: Establish whether the project is viable, help identify feasible options and assist in the development of other project documentation such as the business case, project execution plan and strategic brief.
On large or complex projects, there may be a number of different feasibility studies carried out, sometimes requiring different skills, and considering issues such as:
The likelihood that an environmental impact assessment will be required.
Other legal / statutory approvals.
Analysis of the budget relative to client requirements.
Assessment of the potential to re-use existing facilities or doing nothing rather than building new facilities.
Assessment of any site information provided by the client.
Site appraisals, including geotechnical studies, assessment of any contamination, availability of services, uses of adjoining land, easements and restrictive covenants, environmental impact and so on.
Considering different solutions to accessing potential sites.
Analysis of accommodation that might be included or excluded.
Assessment of the possible juxtaposition of accommodation and preparing basic stacking diagrams.
Assessing operational and maintenance issues.
Appraisal of servicing strategies.
Various stakeholders, statutory authorities and other third parties may need to be consulted in the preparation of feasibility studies.
Vanguard utilise both proprietary financial models and bespoke software solutions dependent on the clients requirements and necessary outputs. The assessments carried are presented in a structured way so the client can decide whether or not to proceed to the next stage. These reports highlight key investment performance indicators, such as Residual Land Value, Profit, Margin, NPV and IRR. Using the sensitivity and probability analysis tools, simple yet detailed risk assessments can be performed on the project with ease, while the ability to compare multiple options ensures that the best financial outcome for the development site is achieved.