Feasibility Studies

Overview

Before committing resources to a major initiative, you need to know whether it can work. A feasibility study provides an objective, systematic assessment of a proposed project's viability, examining whether it is technically achievable, financially sustainable, and aligned with your community's needs and constraints.

Our feasibility studies help local governments avoid costly missteps by identifying potential obstacles early, testing assumptions with real data, and providing a clear-eyed evaluation of whether a project should move forward, be modified, or be set aside.

Our Approach

Clarifying Objectives and Scope

We begin by working with you to articulate what success looks like. What problem is the project intended to solve? What outcomes are essential, and which are desirable but not critical? Establishing clear objectives ensures that our analysis addresses the questions that matter most to your decision-makers.

Market and Demand Analysis

For projects that depend on utilization, such as a new recreation facility, transit service, or economic development initiative, we assess the underlying demand. This includes analyzing demographic trends, surveying potential users, benchmarking against comparable facilities elsewhere, and estimating realistic utilization levels.

Technical and Operational Assessment

We evaluate whether the proposed project can be implemented as envisioned. This includes examining site constraints, infrastructure requirements, staffing needs, and operational models. Where technical challenges exist, we identify potential solutions and their associated costs.

Financial Modeling

Our financial analysis projects capital costs, operating expenses, and revenue streams over the project's expected life. We develop pro forma financial statements, calculate key metrics such as payback period and return on investment, and stress-test projections under different assumptions to understand the range of possible outcomes.

Risk Identification and Mitigation

Every project carries risk. We systematically identify the factors that could derail success, from construction cost overruns to lower-than-expected demand, and assess their likelihood and potential impact. Where risks are significant, we recommend mitigation strategies or alternative approaches that reduce exposure.