Feasibility Study Phase
Review project delivery options.
Determine whether the implementation of the project requires a specific
type of delivery:
The recommendation at this time restricts all future options to those defined in
the Site/Design Prospectus (e.g., whether the project is going to be design/build
or traditional design-bid-build).
Develop strategies for project phasing.
Include any necessary swing space for interim tenant moves during renovation
Greenville, SC
or consolidation projects.
The Feasibility Study has
Consider the best Design Excellence approach for hiring a designer.
the key role in defining the
site acquisition request
Determine whether the project would benefit from a two-stage or three-stage
figure. But it can be tough
(design competition) process. The project team will have some flexibility
to get the right figure since
to make this decision later, but the Feasibility Study should provide background,
it is a calculation based
guidance, and a sufficient budget for the desired alternative.
on future assumptions.
Markets and the availability
Develop the project delivery schedule.
of suitable sites can change
Complete draft OAs with move-in schedules.
over time. Successfully
predicting acquisition costs
Outcome
relies on assessing
Completed Implementation Plan for Capital Program submission
specific sites, assembly
costs, market demand,
and availability.
Duration
This task typically takes one (1) week.
The Feasibility Study team
for a new courthouse
in Greenville incorporated
3.7 Produce the Budget
these factors into their
The Feasibility Study should include accurate budgets for design, site acquisition,
scope of work, and a
and construction.
qualified real estate consult-
ant calculated reliable
Cost estimates must conform to the standards dictated by the Planning Call. Although
acquisition costs. Local
a significant portion of this effort is conducted during the analysis of alternatives,
officials also participated in
the initial feasibility discus-
this step is the final effort to refine or confirm those estimates.
sions and will be involved
The estimates for site and design costs are most crucial because they directly support
during site selection.
The region will apply both
the Site/Design Prospectus. Ideally, the costs presented in the Feasibility Study
techniques in all future
must forecast and align with the Construction Prospectus cost estimate, which is
Feasibility Studies that
typically presented two years later and based on more detailed construction costs.
propose site acquisition.
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