CONSTRUCTION: How Much Will This Cost? Answer: Feasibility Study
- Jul 16
- 3 min read
Updated: Jul 17
Construction can be likened to...
...embarking on a long-anticipated family road trip. You’re excited, the kids are dreaming about the beach and the whales you promised they’d see.
After months of YouTubing your ideal destination, everyone is finally packed in the Range Rover, snacks in reach, kid videos queued up, with the front-seat adult playlist on! Let’s go! The grin on your face is surreal, cheesin' as you hit the road on time. Whoo hooo!
The start is great. Halfway in the GPS pipes in:
“Road closure detected. Rerouting." You turn onto the new route.
Next thing you know, the paved road disappears. Your shocks are protesting as you bounce down a mysterious dirt road. The ETA is climbing like your blood pressure, up ahead you see something that looks strangely, like... a ferry??? You come to a screeching halt.
From the passenger seat, your mate's giving you “the look.” You know the look.
The one that says, “Didn't you know this?” Flashes of using an outdated GPS go through your mind. To late, you can't think about that now.
Meanwhile, the backseat chants in unison, “Are we there yet?!”
At this point, turning around would cost hours. The sun disappeared 20 turns ago. Instead of dreamy beaches, you’re checking into a motel that still uses dull metal keys, with a cloudy fishbowl in the lobby instead of whale watching.
Not exactly the trip you imagined for those who put their trust in you.
And definitely not the trip you budgeted for.
THAT, in a nutshell, is why a feasibility study matters.
YEAH, it’s that important.
A feasibility study equates to inspecting the route pre-trip. It confirms route validity, identifies potential roadblocks and zoning laws, tests assumptions, and gives you a realistic view of cost, schedule, approvals, and risk before you invest additional capital.
If the “reroute” includes a dirt road and a ferry, you need to know early and prepare for it.
Feasibility studies do not remove all challenges.
But it keeps you from discovering the ferry after dark.
So, how much will construction cost? What can be achieved within the budget? What's the best manner of execution? Whether it's a new building, a renovation, or a change of use, the answer lies in a Feasibility Study. It will provide...
Three Immediate Benefits:
Fewer Surprises: Issues are detected sooner. Preemptively, solutions can be formulated and modified more affordably.
More Control: Multiple viable options can be discovered and compared. Such as renovate vs. add-on, "phase it" vs. do it all at once.
Investor Buy-in: Boards, funders, and partners have greater confidence in projects rooted in professional findings.
Who Should Perform the Study?
A feasibility study should be led by a professional who understands how buildings are actually delivered from start to finish. Typically, this is an architect who coordinates input from engineers and cost professionals as needed.
Next, the right team explains, documents, and presents things clearly so you can make confident decisions without becoming a construction expert overnight. A clear visual presentation can also be shared with investors to secure buy-in.
Are Feasibility Studies For Me?
Most projects benefit from some level of feasibility work. The key is to correlate effort with the project's complexity and risks. Use the attached project worksheet to assess which level best serves your project.
Take Action
Connect with a professional who understands how buildings actually get delivered. The right professional will explain things clearly, coordinate the right expertise, and help you make confident decisions before the project gains momentum.
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Hamlin Design Group is an award-winning design firm that has helped community organizations, urban developments, and state universities complete high-functioning building projects for those they serve, on time and on purpose.
Contact us to share your vision. See the possibilities.
DOWNLOAD FREE: FEASIBILITY WORKSHEET
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