How TGB Group helps its clients by working through all the details of a civil design/engineering project
Of all the parts and parcels of a civil design or engineering project, the feasibility study may be the most critical. Like the old saying, “Failure to plan is planning to fail.” A quality feasibility study early in the planning stages allows you to address the major concerns that will be involved in doing the project and operating with it afterwards.
When the TGB Group team performs a feasibility study for our clients, we customize each area to our clients’ and the project’s specific needs. General areas we cover include the following.
Feasibility study components
In the very earliest stages, company leaders must forecast the viability of a project in terms of how it will be accepted in the market and the impact it will have on competitors and sales. A detailed feasibility study covering market impact projections is critical for every new project.
Once we determine that the business idea is sound, we want to ensure that the civil and structural engineering aspects as well as design are capable of being executed in a way that supports the project throughout all its stages.
We evaluate project management capabilities to confirm that the project will be overseen with the expertise necessary to make it successful.
Financial feasibility study
Paying for the many services required to complete a project is a paramount concern. We want to investigate and determine that the client will be able to secure the necessary funding to see the project through to completion.
The economic part of a feasibility study looks at the potential economic benefits and losses that could result if the project is developed and completed as planned.
Part of a quality feasibility assessment is considering the impact of the project on the local community and culture. Many problems can be alleviated by knowing what these impacts may be during the building phase and after the project is finished.
Safety assessments look at the wide range of possible environmental influences the project will create. It’s important for our clients to see the “bigger picture” in this area so alterations to certain aspects of the project, if deemed necessary, can be made early.
Every project requires a number of permits, licenses and approvals. A feasibility study should determine which of these will be required, how they will be secured and who will be responsible for securing them.
As noted, every feasibility study is unique, so the above elements are simply a general guide. The bottom line is we want to make your project as smooth and predictable as possible from the earliest planning stages to the day you open for business.