Feasibility Studies
What Is A Feasibility Study?
Assesses the viability of proposed projects by analyzing costs, benefits, risks, and potential returns on investment, aiding in the decision-making process.
The Benefits
- Provides a realistic budget and evaluates hard and soft construction costs.
- Develops a cost model considering owner requirements, site conditions, government regulations, and local market conditions.
- Identifies risks and recommends appropriate contingency levels.
Program Estimate
What Is A Program Estimate?
A Program Estimate is developed during the Planning Stage and is based on a Functional Program, which details the project's requirements, including space types, finishes, and special services.
The Benefits
This estimate provides preliminary costing, initiating the budgeting process and ensuring all functional needs are considered early. Multiple options are often explored to find the most cost-effective solutions, ensuring the project's feasibility and budget alignment from the outset.
Life Cycle Costing (LCC)
What Is Life Cycle Costing?
Life Cycle Costing analyzes the total cost of ownership over a project's lifecycle, including initial capital costs, maintenance, operation, and disposal, to ensure long-term cost efficiency.
The Benefits
- Evaluates design options considering initial capital investment and ongoing maintenance costs.
- Costs are presented in net present value (NPV) for long-term decision-making.
- Compares materials, systems, and designs for overall cost efficiency.
Building Condition Assessments (BCA)
What Is A Building Condition Assessment?
Building Condition Assessments (BCA), sometimes called Property Condition Assessments, outline short and long-term capital repair requirements for building components and systems.
The Benefits
- Get a detailed report on the capital plan and reserve fund cash flow table to show the timing and costs for repairs or replacements.
- Crucial for due diligence in real estate transactions or asset management in public sectors.
- Used for routine maintenance planning, code adherence, and functionality assessment.
Insurance Valuation & Building Reinstatement Cost Estimate
What Is An Insurance Valuation & Building Reinstatement Cost Estimate?
An Insurance Valuation & Building Reinstatement Cost Estimate calculates the cost of the building for insurance purposes.
The Benefits
- Ensures adequate coverage without over-insuring.
- Essential for mitigating financial risks in case of loss.