The Process of Hiring a Feasibility Study Company
Finding a reliable company to assist with the development of a feasibility study for a commercial project can help ensure that your objectives are met. Here are the critical areas you should look for in a feasibility study company in Dubai.
Find out who is performing the review:
A good company will have engineering consultants in Dubai who will work with several disciplines, including geotechnical, engineering, surveying, and other specialists. They will carefully consider the local and federal regulations that must be considered before your project moves forward. Furthermore, they will perform a thorough examination of any potential impacts on local infrastructure and must be capable of responding to any concerns or questions that you may have. A company that has reviewed their plans and found them to be in compliance with local and national standards is more likely to provide you with a workable proposal than one that has performed poorly in this area.
The scope of work:
This section is usually the most difficult for companies to prepare and must undergo thorough review. You must know what your project is for, how long it is expected to take to complete, and the budget that will be required once it is complete. This section must also provide a description of the project’s objectives and goals, as well as the date that the project is expected to be completed. Be sure to include all the necessary details that will allow you to determine whether it is likely to meet the current needs of your industry, and whether there is enough funding to support the project once it is complete.
Your chosen company must be able to give you a realistic timeline of when the work for your project will take place and what it is likely to cost. Moreover, this section must outline the sequence of events that will lead up to the start of your project. It should also be able to provide you with a detailed break-down of the cost estimates that are associated with the project, and include all contingency elements.
While financial numbers are almost certainly going to be used in favor of your project, you should also find out what these numbers would look like if the project was not initiated. Many financial projections can also be used in conjunction with other financial numbers to show exactly where your organization might be in a year or two if the project was successful.