A Feasibility Study is an assessment undertaken at the early stages of a construction project to determine whether the proposed development is viable from technical, financial, and practical perspectives. It informs the decision to proceed with detailed design.
Purpose
A feasibility study aims to:
- Confirm the project is technically achievable
- Establish preliminary cost estimates and budget viability
- Identify key risks and constraints
- Explore alternative options and approaches
- Provide sufficient information for investment decisions
Typical Content
A construction feasibility study typically includes:
- Site appraisal – Access, ground conditions, utilities, planning constraints
- Design options – Alternative layouts, building forms, and specifications
- Cost estimates – Order of magnitude costs for each option
- Programme – Outline timescales for design and construction
- Risk assessment – Key project risks and mitigation strategies
- Recommendations – Preferred option with justification
RIBA Stage
Feasibility work typically occurs at RIBA Stage 0 (Strategic Definition) and Stage 1 (Preparation and Briefing), before commitment to detailed design.
Cost Estimates at Feasibility
At feasibility stage, order of cost estimates are prepared using benchmark data, with appropriate contingencies reflecting the limited design information.
Related Terms
See also: Preliminary Estimate, Project Management, Order of Cost Estimate
