Construction Project: How to Conduct a High-Quality Feasibility Study?

Before starting any construction project, whether it’s a new collective housing development or a rehabilitation for resale, it’s essential to conduct a feasibility study. But what does it entail and who should you contact to conduct it? 

Read on to learn how to carry out a high-quality feasibility study.

What is a Feasibility Study for a Construction Project ?

1. Regulatory Feasibility

Whether you’re building from scratch or renovating an existing property, your project must comply with all the regulatory requirements in your sector. To increase your chances of obtaining planning permission from the authorities, you’ll need to analyze and synthesize the various rules you need to follow, including:

• Constructibility of the land
• Any restrictions on land use
• Maximum authorized floor space
• Urban planning regulations (architectural design, maximum allowable height)
• Local planning guidelines or regional planning orientations
• Existence of a protected or safeguarded area
• Analysis of risk prevention plans
• Existence of any easements
• Specific local requirements (number of parking spaces, social housing units, etc.)
• Environmental regulations (energy efficiency requirements, choice of materials)

If you work with an architect or a project manager during the project’s design phase, they typically take care of the regulatory framework analysis.

2. Technical Feasibility

Some sites may be considered constructible from a regulatory standpoint but may not be technically or financially feasible.

At this stage of the project, the feasibility study doesn’t yet delve into technical sizing details (such as structural work, networks, or insulation). The aim is to identify the major constraints that could jeopardize the project’s completion or significantly increase construction costs.

Some factors that need to be studied include:

• Soil quality: whether deeper foundations are required, or if there’s a nearby water table
• Available access: whether materials can be transported to the site or if a crane can be installed for large-scale operations
• Site configuration: storage space management and earthworks requirements
• Natural hazards affecting construction techniques, such as seismic zones, flood risk, or soil pollution.

These analyses require engineering knowledge and are carried out by specialized technical study offices (geotechnical, structural or thermal engineering bureaus).

3. Economic Feasibility

A project’s financial feasibility determines whether the overall construction cost remains lower than the anticipated revenues after project completion (a study of the operation’s profitability).

For a project owner, it’s essential to estimate the construction costs as accurately as possible, but not only that. The possible taxes, time-consuming administrative procedures, land acquisition costs, and various study fees should also be factored into the financing plan.

Regarding the technical part, construction cost estimates can be made by a construction economist as part of the project management team or directly by a general contractor if they’re responsible for designing and executing the project.

Estimates are made at all stages, from initial capacity studies to detailed quantity estimates during company consultations (according to DCE).

Qualities of a Successful Feasibility Study 

1. Clear Definition of Needs

A successful feasibility study quickly leads to a preliminary design that meets your requirements. To avoid back-and-forth communication with project management and plan changes, it’s best to define your needs accurately, including:

• Available budget
• Architectural preferences
• Profitability goals
• Environmental requirements (such as obtaining a label or using a particular construction method)
• List of surface area needs

2. Optimized Study Time

The main challenge of a feasibility study is to analyze the project in sufficient detail to identify as many constraints as possible, while spending as little time as possible since the possibility of it not being feasible could arise.

However, the regulatory study alone can already represent a considerable amount of analysis time! Urban planning regulations differ and are specific to each municipality and can even vary within the same community depending on the zoning plan.

In addition to this, there are various technical construction regulations, including the new environmental regulation RE2020. This regulation not only imposes very high energy performance standards but also a new way of approaching a building as a whole. Unlike previous thermal regulations, the overall environmental impact of the construction is now studied throughout the entire life cycle of the building. Therefore, from the feasibility stage, thought must be given to the future consumption of the building, the materials chosen, and above all, the best ways to minimize the project’s carbon footprint. 

3. Identification of Technical Constraints 

Maximize your project’s feasibility with Buildrz by identifying technical constraints early on. Our platform allows you to involve experienced professionals, such as project managers, construction supervisors, and architects, in the design phase to ensure that the technical aspects of your project are thoroughly examined. 

By identifying potential issues early on, you can save time and money on costly changes down the line.

Our qualitative feasibility studies ensure that you have a complete understanding of the entire design process, from conception to construction supervision. 

Looking to save time and streamline your feasibility studies? Look no further than Buildrz. Our web application centralizes all the necessary urban planning and environmental regulations, giving you the ability to quickly and easily visualize multiple project scenarios that meet all regulatory requirements. No need to spend hours poring over regulations – with Buildrz, you can have a complete picture in just a few minutes. Don’t believe us? Request a demo today and see for yourself!”