Engineering Feasibility Studies & Project Appraisal
Have you ever wondered how that beautiful and complex structure (be it road, building or even a dam) in your locality get constructed? Well, it all begins with a preliminary study that assesses the practicality of a proposed plan or method to execute it. Key questions are:
- Is this plan technically feasible?
- Is this plan operationally feasible?
- Is this plan feasible within a reasonable period of time?
- Is this plan economically feasible?
Heureka’s team of technical experts provides answers to these questions in a manner that leaves very little doubts in the minds of potential investors as the safety of their investments. Our professionally crafted feasibility study reports give projects owners confidence in the soundness and viability of their proposed projects.
We also undertake project appraisals that look into cost/impact analysis of the project and offer recommendations that take into account cost to rewards ratio of the project.
Key Factors Considered
As part of the project appraisal or assessment process, there are certain factors we take into consideration at Heureka Consult. Some of these include:
Project Reasoning
This includes all factors that necessitate the project, whether positive or negative, chosen or not. Examples include inadequate capacity to meet existing and forecasted demand, decrease in customer satisfaction, low profit and legal requirements etc.
Project Costs
Investment and other development costs for a project. Business justification is first assessed prior to a project being initiated and is continuously verified throughout the project life-cycle.
Business Needs
Those business outcomes that the project is expected to fulfill, as documented in the Project Vision Statement
Project Benefits
Include all measurable improvements in a product, service or result that could be provided through successful completion of the project
Opportunity Cost
Determines the value of the next best business option or project that was discarded in favor of the current project
Major Risks
Include any uncertain or unplanned events that may affect the viability and potential success of the project
Project Timescale
Reflect the length or duration of a project and the time over which its benefits will be realized.