In the last 30 years, if history has taught us anything
it's that asking the "stupid questions" is always
the smart thing to do.
When it comes to performing feasibility and due diligence,
much of the discovery process boils down to observation and
intuition -- and knowing your "end product" so well
that you just know what to look for and where to find the answers
you need.
However, ultimately, the willingness to ask the obvious questions
and explore the obvious issues — rather than make assumptions
— can be the difference between a successful, on-time,
in-budget project or painful, costly mistakes.
— TAG International, LLP
7 Steps to Building Potential®
How to Maximize Value in your Next Project
Step 3: Feasibility and Due Diligence
Rule
of Thumb: Understand the constraints.
A feasibility and due diligence analysis provides an in-depth
"drill down" exploration of the critical technical
and financial factors that must be considered in bringing the
project to fruition.
Determining a project's feasibility entails an examination
aimed at uncovering any fatal flaws — i.e., potential
obstacles that could prevent the project from being successful,
as well as any issues or events that could require significant
additional resources, such as time or money.
At this stage, it is important to leverage the knowledge of
"subject matter experts" to fully examine key issues
such as civil engineering, environmental and geotechnical factors.
Each of these areas has the potential to dramatically affect
the budget, schedule and success of the project.
Overall, the goal of feasibility and due diligence is to provide
a comprehensive assessment of the critical issues, so you can
make well-informed decisions — and ensure that what you
build will serve your business and organizational needs now,
and in the future.
Project Spotlight
The Village at Texas A&M -- College Station, Texas
When Hammond Jones Development decided to initiate an innovative
multi-use housing project in the growing College Station market,
they faced several apparent challenges due to the site's topography,
including steep grades and two creeks that flowed through the
property.
They engaged TAG International to help them determine how
to best utilize the land — to maximize its potential value
— as well as navigate the many obstacles that lay in their
path.
Through an extensive discovery, evaluation and planning process,
TAG delivered a comprehensive, prioritized analysis of the impediments
to the proposed development plans. In addition to topography,
key project issues included city zoning and land use controls,
development regulations, utilities and easements —
and, most importantly, effective density planning to meet
target profitability goals.
As Hammond Jones’ land development partner, TAG provided the expertise, insight and services needed to understand and resolve these complex issues. With guidance and in-depth analyses from TAG, Hammond Jones successfully navigated difficult political barriers to obtain the City’s approval and transformed a major topography problem – the creeks – into an amenity by creating hike and bike trails for area residents.
Ultimately, with TAG’s expertise and assistance, Hammond Jones addressed several critical hurdles that could have stalled or derailed the successful launch of the project.
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With 30 years of experience in
land development, we
understand the complex challenges that organizations face in designing and building facilities that truly serve their business goals.
