How to define if your project is feasible?

At Mar Azul Projects, we understand the importance of incorporating a pre-feasibility process before beginning any construction project. This process allows us to evaluate the viability of the project and determine if it is feasible to carry it out, taking into account factors such as location, cost, time, and other resources necessary.

The benefits of a pre-feasibility process are many. First of all, it allows us to evaluate its feasibility of execution before investing large amounts of money in the project. This can avoid unnecessary costs and financial risks in the long run.

In addition, a well-executed pre-feasibility process can help us identify areas where we can reduce costs and maximize benefits, allowing us to know if the project will be profitable in the long term. It also helps us anticipate and prevent potential roadblocks or risks, reducing the likelihood of costly delays or unforeseen events.

A pre-feasibility process begins with an assessment of the project’s location. An example of how to start would be, in the case of a tourism project, evaluating whether the construction project is located in complex areas, such as coastal or tourist areas, where the accessibility of the location is reviewed and whether it is attractive to tourists and visitors. And so for each type of project, it is analyzed according to its characteristics.

In this line, once the location has been evaluated, a cost-benefit analysis of the project is carried out. This analysis makes it possible to determine, at the monetary level, if the project will be profitable and if the costs associated with the project will be justified by the benefits that will be obtained.

At Mar Azul Projects we focus on reviewing these costs, seeking to contribute and have a high-quality project that is sustainable and respectful of the environment, which in the long term results in significant savings in operation and maintenance costs. Another important factor in the pre-feasibility process is the evaluation of the time and resources needed to carry out the project. As experts in value engineering, we evaluate each of the stages, schedule and the necessary resources to be required during the execution of the work.

Based on our experience, we consider the pre-feasibility process as an essential part of planning any construction project. And in its effect, this process allows evaluating its feasibility, resulting in being able to guarantee profitable and sustainable projects in the long term.