The Importance of The Feasibility Study

Your organization has outgrown its current headquarters. They have plans to build, buy, and/or renovate a bigger, better, newer building to house the agency. A few movers and shakers in the community have expressed interest in your project too. Great! Let’s make an offer on the
building, sign the architect and contractor, start collecting cardboard boxes!

Hold up a minute. Lots of “what if’s” here!

How much will the project cost — from the design and drawings, to the trades, to the time lost within the organization, right down to the cost of new stationery? What will the new utility bill be? Will the cleaning company want more each month to clean a bigger space?

How much are the interested movers and shakers willing to pony up for this project? What other influencers are out there and how much are they willing to add to the pot? If their contributions don’t add up to what you need, what’s the plan to get there?

Enter The Feasibility Study.

Feasibility Studies are not free, but they are well worth it. Don’t skip this step in your Capital project! I sure wouldn’t want to wind up with a half-finished eyesore, embarrass and burn bridges with heavy-duty influencers in my community, and essentially “Build The Bridge To
Nowhere.”

Most of the larger consulting firms offer Feasibility Studies as part of a Capital Campaign project. I urge you to check them out next time you want to pursue a Capital project, and budget for a Feasibility Study!

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