Feasibility Studies and Budgets
Feasibility studies are a fundamental part of our service offering supporting both existing and new clients to determine the financial viability of their proposed development and it is often a necessary step in securing the funding they require. By objectively and rationally uncovering the strengths and weaknesses presented by a proposed development we allow our clients to make a well-informed decision going forwards.
From the outset we work very closely with our client on the establishment of the budget. The budget is more than just a figure. It is an identification of the various items of constituent expenditure which go to produce the total sum. A good budget is an agreed framework within which all parties are content to work. We assist with the preparation of a realistic, workable budget by utilising our databases and extensive cost experience to identify accurate figures. Realistically we know that in construction the 'unknown' must be accounted for and we therefore provide a level of confidence for our clients by allowing an appropriate level of contingency. At every stage we monitor costs and refer back to the cost plan and original budget and instigate rigid change control procedures to ensure costs are controlled throughout.
Initially appointed to carry out a feasibility study or to prepare an initial budget many of our clients subsequently retain Woodley Coles throughout their project to assist with traditional quantity surveying duties because of the high quality of the service received and strong relations established.