How To Do a Feasibility Study

During the normal transactions of a company or other commercial institution, there may come a time when they want to know if it is economically feasible to do a task.  The task may be something as simple as moving their facility from their existing occupancy to another occupancy.  Before they move into the first property that they find, they may want to hire the services of a design professional.  The design professional can see if it is economically feasible to spend the resources to make this move.

So the design professional, in doing the feasibility study, will want to go out and investigate the existing facility where their client is located. They will also want to see the place where the client wants to move.  In reviewing the existing facility, the design professional may want to see the total occupant load of the facility.  Additionally, they will compare it against the rated occupant load of the potential facility where the client wants to relocate.  A feasibility study will also compare the peak/rated demand loads of the supporting systems at each of the facilities.

The next step in performing a feasibility study is to compare the capacities of the existing facility and the new potential facility.  If the rated capacities of the proposed facility are not substantial enough, then a plan of action should be adopted.  An estimate of the anticipated costs to bring the proposed facility in line with the tolerances of the existing facility will also need to be performed.

After all of the data has been accumulated and all of the calculations have been completed, then it is time to commence with the actual feasibility study.  The first step in writing a feasibility study is to acknowledge the purpose of the study in question.  Why does the client want this particular study performed?

The next step in performing a feasibility study is to acknowledge the existing conditions of the both the existing and new parameters.  It is at this point that strategies would be identified to bring the new parameter within the tolerances of the existing parameter.  The potential costs to perform this task will also need to be addressed.  Finally, a summary should be written to summarize all of the tasks that need to be accomplished.  The anticipated costs to accomplish these tasks should be included.

An abbreviated summary or "Executive Summary" should be written that summarizes the purpose, existing capacities, new rated capacities and, if applicable, the cost to bring the systems within tolerance.  The Executive Summary will start the feasibility study.  This will be followed by the headings "Purpose," "Existing Conditions," "Proposed Alternative" and "Conclusion."

After completion of the feasibility study, the client should have all the information that they need to evaluate whether it is economically feasible to perform the task proposed.


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