What is the main purpose of conducting a feasibility study in construction?

The main purpose of conducting a feasibility study in construction is to assess the project's viability. This involves evaluating various factors such as financial feasibility, technical requirements, legal considerations, and overall project scope. By performing a feasibility study, stakeholders can identify potential risks and obstacles, analyze resource availability, and determine if the project aligns with strategic goals. This comprehensive evaluation helps decision-makers understand whether the project should proceed, be modified, or be abandoned, ensuring investments are made wisely and effectively.

In contrast, finalizing the project design is a phase that comes after a feasibility study has affirmed that the project is viable. Recruiting project staff occurs later in the process once the project has secured approval. Creating marketing plans is typically not within the primary scope of a feasibility study; rather, it focuses on the practicalities of project execution rather than market positioning.