We advise clients to conduct a feasibility study when they approach us for support to set up a school. At a high level, it is a decision enabler that builds an understanding of the viability of the project, the challenges, the likely outcomes and alternatives to undertaking that particular project. Such findings can be intuitive but when backed by study and research, it can increase the probability of a successful project and decrease the probability of missteps. You can reassess your commitment to the project, before allocating significant resources to the project.
A project feasibility report is not a detailed project report (DPR), that lays out everything that must be done to execute the project. A DPR should be undertaken only once you are ready to commit to the project. When seeking a project feasibility report, we advise you to have a certain set of expectations.
You must use the feasibility report to scrutinize the practicality of the school project in the identified location. As consultants, we lay out the options and factors systematically assessing the school project on a number of attainability factors. A feasibility study strives to objectively, accurately and reasonably expose the strengths and weaknesses of the school project. Doing this, you may be able to minimize your biases in the project. When laid out clearly before you, you should be able to evaluate the options, commit to or withdraw from the project with confidence.
For greenfield school projects, nature of information that you should expect are
- Site selection
- Are any local factors likely to influence the cost of construction?
- What is the nature of use land adjacent or in close proximity to the land?
- Are resources such as water and electricity available reliably and reasonably?
- Is there any local perception on the acquisition of the land?
- Organization options
- Whether the site is accessible for talent?
- Can the area be serviced by support staff locally? Or are there options to outsource the support services to external agencies?
- Will residential accommodation be reasonably available for teachers, facilities and support staff? Will it be required?
- Market assessment
o What is the competition? What is the target audience for the school?
o What is the perception of the target audience of the school concept?
o Are there any expectations of the parents?
o Is there a match between targeted fees and parents willingness to pay?
- Legal / Administrative scenario
o What are the policy trends? Or guidance frameworks?
o How can they impact the project?
- Alternatives available
o What are the alternatives to the school concept in the given location?
o What are the alternatives to the school location?
A well-designed feasibility study must provide a background to the project and evaluate its sensibleness. It must provide all the inputs required to choose to further or reject a proposal. Usually, feasibility studies precede technical growth and projectexecution. They can also lead to further marketing studies to build a case before investors or banks.