Feasibility Study

Look Before You Leap

Some businesses, boards, and individuals make the mistake of steam rolling into a renovation or construction project without a sound Feasibility Study. This can be a costly mistake.

A Feasibility Study can help you look at possible opportunities, costs, and risks of one or more proposed solutions. What do you need to know to make a sound decision?

1. Existing Conditions: If there is an existing building, the first step is to evaluate existing space utilization, code conformance, environmental hazards, external & internal circulation, energy/water use, and the state of the building systems, envelope, & finishes.
2. Program: Your Architect needs to compile your projected space/equipment needs. The program should consist of required room sizes, configurations, & functions; equipment; storage; functional relationships; flow; MPE criteria; signage; data, communications, & security. Site requirements (access, parking, loading, etc.) should also be established as part of the program.
3. Timeline: We can develop a bar graph for you, showing the consecutive durations of design, review/approvals, permitting, construction, and occupancy.
4. Budget: Based upon the above, RYEBREAD prepares the Preliminary Estimate(s) of Probable Construction Costs for your project option(s). These estimates should include not only costs for building construction/upgrades, but also furnishing & equipment, site development, fees & permits, plus contingencies & escalation.

In the end, the analysis becomes cost required for value attained. But you need the relevant information, presented in a clear manner, to move forward (or not).