Conducting a Project Feasibility Study: Key Steps and Insights

A project feasibility study is the first step in delivering any successful construction or infrastructure project. It helps determine whether a proposed development is technically viable, financially sound, and aligned with stakeholder objectives. 

Without a proper feasibility study, even the best ideas can stall. By identifying risks and assessing the project’s potential from multiple perspectives, a well-executed feasibility study provides construction managers with either the clarity needed to proceed or the foresight to pivot.

Understanding the Purpose of a Project Feasibility Study

The principal aim of a feasibility study is to evaluate whether a project should proceed, be redefined, or scrapped altogether. It goes beyond initial concept approval, exploring financial assumptions, engineering constraints, regulatory obligations, and market factors. 

When executed by the right experienced professionals, this process uncovers risks early and reveals opportunities to enhance long-term value.

Key Components of a Project Feasibility Study

A practical project feasibility study includes several integrated components. These may need to happen in person at the construction site or take place behind the scenes.

• Site Assessment: Reviewing location access, topography, utilities, and planning or environmental constraints.
• Preliminary Design Review: Assessing basic layouts, structural considerations, and construction feasibility.
• Cost and Return Analysis: Estimating things like capital expenditure, long-term costs, and return on investment, using multiple financial models.
• Scheduling and Delivery Planning: Outlining realistic project timelines and setting goals for relevant milestones.
• Risk Evaluation: Identifying technical, legal, financial, and environmental risks with mitigation strategies.

These components work together to form a complete picture of project viability.

The Feasibility Study Process

Project feasibility studies often follow a structured approach. Steps taken may include:

• Defining Objectives and Scope: Establish the key goals and assumptions that will shape the study.
• Gathering and Analysing Data: Evaluate everything from local regulations to site surveys and historical context.
• Developing Preliminary Concepts and Budgets: Run tests on early design ideas and cost models under several potential conditions.
• Conducting Risk and Sensitivity Assessments: Evaluate potential disruptions or changes that might impact viability.
• Presenting Evidence and Recommendations: Compile findings in a clear, actionable format for key stakeholders.

This framework keeps planning realistic and adaptable.

Aligning Strategy with Practical Delivery

Throughout this process, expert project management is indispensable. Knowledge of regulatory frameworks, engineering challenges, and procurement risks ensures that a feasibility study is not only comprehensive but strategically sound. 

Experienced managers are able to anticipate potential overruns, technical delays, and planning roadblocks before they impact delivery. This way, they’re able to ensure a smooth process throughout the entire project.

Equally important, professionals bring independent judgment—keeping findings grounded in real-world conditions rather than simply reflecting client expectations.

Accessing Expert Construction Project Management

For over six decades, DG Jones & Partners has been a trusted name in construction project management, delivering excellence across a wide range of projects and at every stage of development. We provide tailored solutions that meet the unique needs of our clients across the MENA region and beyond.

Our multidisciplinary team combines global expertise with local insights, ensuring that each project is executed with precision, professionalism, and innovation. Whether guiding feasibility, shaping schedules, or mitigating risks, DG Jones & Partners is your partner in achieving project success.

Ready to move your next project forward with confidence? Speak to an expert in your region today.