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Robust feasibility studies and appropriate due diligence exercises are critical elements to ensuring a successful project be they property development or public infrastructure.
Candor³ has found that despite the minimal cost involved – alongside the vital importance of a project’s feasibility, some feasibility studies are often inadequate, lack knowledge and an understanding of what is required to meet a client’s outcomes.
The value of a feasibility study may, at one end of the scale, be measured by confirming the viability of a project with the risk and reward elements accurately identified and accounted for.
At the other end of the scale, the actual value derived from a good feasibility study may actually be a client’s avoidance of a potentially disastrous deal.
In between these two extremes is an area where the best consultants can see the opportunity in a project and who work collaboratively with clients suggesting ways to turn marginal projects into highly successful projects resulting in increased investment returns, reduced maintenance costs and positive publicity and reputational benefits.
Candor³ recognise the importance of getting it right for clients from the start and we know that successful projects are built for people.
• A client withdrew from a project after a Candor³ feasibility assessment demonstrated that previous feasibility studies were flawed and the project was not viable.
• A project’s initial schemes and costings indicated that it was not viable, however after numerous iterations, together with a change in product mix and meetings with a potential vendor, these deficiencies were addressed and a Candor³ client was able to proceed with a successful project.
• A Candor³ feasibility study confirmed the viability of a project, however opportunities were further identified and subsequently pursued resulting in the project transforming from a good project to a great project with increased yields and reduced costs.