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Clients may seek the services of an architect to assist in the preparation of a report on the economic viability of a project through an analysis of the relationship between the cost factors of site, construction and building operation on one hand, and the estimated return from the project on the other.
In establishing project feasibility, an architect may assist quantity surveyors, project developers, engineers and other construction professionals to establish project viability. It is important to ensure clear explanation of issues beyond the control of participants in project feasibility, which may affect the potential feasibility outcome. In this regard quantity surveyors will be of assistance. Architects’ fees for a feasibility study may be included, excluded or additional, depending on your Client Architect Agreement.
A feasibility study is typically undertaken to determine the present value or dollar worth of a project, or to assist in comparing different projects or different options for the same project.
Architect services in preparation of a feasibility study may include establishing the project objectives and constraints with the client; arranging, attending and recording meetings with the client, consultants and other relevant parties; reviewing statutory planning controls and guidelines; analysing site opportunities and constraints; preparing functional relationship and spatial diagrams; determining key financial indicators for the project and providing a report of findings and recommendations.
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