What is the main goal of a feasibility study in construction projects?

The main goal of a feasibility study in construction projects is to assess the viability of the project. This involves evaluating various factors such as financial aspects, technical considerations, legal requirements, and overall project risks to determine whether the project is achievable and worthwhile. By conducting a feasibility study, stakeholders gain valuable insights that help them make informed decisions about proceeding with the project, adjusting plans, or even abandoning the initiative if it is deemed unfeasible.

In the context of construction, this assessment can help identify potential challenges early on and explore alternative solutions, ultimately leading to better project outcomes and resource allocation. While communication strategies, budget finalization, and project management plans are important elements in project management, they do not capture the comprehensive evaluative purpose of a feasibility study.