That is why the great works of the country are executed after one or more studies of this type. Understand the importance.
Thinking of an industrial or commercial construction project, planning it and executing it is a process that can only be successful if a serious, coherent and realistic feasibility study is involved in it, which makes it possible to determine in detail the financial, technical and environmental suitability of the project. The rest is to improvise and throw the dice at random, an extremely harmful practice for investors. Therefore, it should not be seen as a bureaucratic formality or an unnecessary investment of time and money.
This research and analysis will be what finally gives the elements of value for strategic decision making. It allows deducing if it is worth executing the construction and if it will provide the benefits expected from it in the short and medium term. Or if, failing that, it is necessary to rethink the design or scope of it.
What do you need to develop a serious feasibility study?
To carry out a quality analysis, it is necessary to collect enough information to:
· Identify limitations.
· Detect the weaknesses and opportunities of the project.
· Evaluate the different construction alternatives.
· Determine the appropriate course of action.
· Affinity with national legislation.
· Environmental impact.
On the other hand -and more importantly- the study must carry out a correct analysis of the budget and construction costs. In this way it is possible to define the amount of the investment, to know and quantify the factors that determine its profitability, in order to compare these data with the real benefits that the project would bring once it is finished.
Obviously, this analysis requires a market study that determines the capital gain in the future and allows establishing the sale prices per square meter (in the event that the work is going to be sold) or the real benefit that its use represents (for example, if it is a warehouse for the storage of the company's products).
The results of the feasibility study of an industrial commercial construction project are reviewed by the investors and the firm in charge of doing the analysis, with two purposes:
· Justify the rigor and precision of the study.
· Make an intelligent decision about the project (approve it, reject it, modify it, request a review of it, etc.).
Reasons why the study should be carried out
· Common sense approach.
· It is good business practice.
· Its implementation can be seen in all successful projects.
· Guarantees the safe injection of capital.
· It is the only way to reduce the failure rates of the project as much as possible.
· It allows to obtain a more complete perspective of the different alternatives.
· It makes it easy to find new ideas to optimize budget and results.
· Identifies opportunities to innovate.
· It detects the signs that warn of the infeasibility of the execution of the project.
· It executes the construction under the norms established by the State, especially in relation to the use of the land and the care of the environment.
· It allows to discover the factors that could affect it before starting the work.
· It makes it possible to have complete documentation to face possible audits and process construction licenses.
· It ensures the financing of credit institutions or private corporations.
· Attract capital investment.
