A feasibility study determines whether a project that is under consideration is viable. Feasibility studies measure the economic potential of a proposed development so interested parties can make an informed decision about:
- whether to proceed with a purchase
- the expected returns by redeveloping the land if the property has been held for a period of time.
A development feasibility study requires numerous inputs and assumptions to be made. The ability of the property professional to isolate and quantify the risks (in terms of both cost and timing required) is extremely important in determining the value of the property and the project’s sensitivity to various input variations.
This unit will help you in developing the following skills:
- establish aims and objectives of the feasibility study in accordance with client and organisational requirements
- consult with relevant people to negotiate study objectives and timelines
- identify critical requirements of the study by gathering and reviewing relevant documentation and legislative requirements
- identify situations requiring specialist advice and seek support as required
- make initial comparisons with similar properties to allow effective comparability against client expectations.
Completion of this course provides 12 CPD points.
$450 including GST