Specialists in construction engineering hold that the profit gained from the design, construction and operation of a project can be increased by drawing on a particular kind of scholarly study known as feasibility and technical-economic-financial justification (a Feasibility Study). By encompassing all economic, technical and financial dimensions, such studies can be a valuable guide for clients, investors and consulting engineers, enabling them — before a project begins — to assess the potential for sound investment and for securing the highest economic return within a defined period.
Visiting, evaluating and preparing complete, comprehensive reports on the site of each project is one of the most important stages of a feasibility study. Producing photographs, film and a report from the project site can in turn influence the scholarly and practical study of the project. In addition, social, geographic, demographic and statistical studies of the area affect the profit obtained from each project. Attention to the conditions of the target area — its urban and regional fabric, population and traffic — is very important and vital. Projects executed without prior feasibility studies, for example, have proven unsuccessful and failed; whereas feasibility studies carried out before execution can prevent such economic losses and can even double the resulting profit.
Evaluating and identifying areas suitable for economically successful projects is another aim of feasibility studies. This part of the study helps the investor to deploy capital with greater confidence and to obtain the greatest possible return and the most efficient use from the investment.
