Feasibility Analysis vs. Feasibility Study
The difference between a feasibility analysis and a feasibility study is broad. A feasibility study is the actual study of the site and the requirements to move forward. The feasibility analysis is the analysis of that study. Then, you can take all aspects of that study and develop a design.
Analyzing vs. Studying
There’s a big difference to the two activities. They’re both important. We ask every client if they have a feasibility study that we can analyze. This helps us develop a road map for our design work. If they don’t have it, we go ahead and do it. Of course, there’s limitations to how much you can do. But for us to develop a feasibility study, to be able to develop a road map is key in every project. We assist the client in developing this document. It creates a road map for the direction that the design is going to go.
Fullerton Airport Terminal
We designed the Fullerton Municipal Airport terminal building. The Fullerton Municipal Airport had some money and needed some improvements in an existing terminal. They did not know how to use the money to meet their needs. They wanted an architect to help them determine that. What was interesting was that did not know what a feasibility analysis was. But we went ahead and did it.
We developed a study which determined their needs. We were able to create a road map so that we could design the building as required. When they saw that feasibility study, they were more confident in the way that the process would work. They were also more confident in understanding why they hired us. They knew that we were going to be able to provide them a service that had direction and purpose.
To this day, they thank me for directing them to a feasibility study and feasibility analysis. This helped them create their new design. They’re still a client of Development One.