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Feasibility STudies
The Essential First Step in Any Marine Project
At Marine Facilities Australia, we believe every successful project begins with a thorough feasibility study. These studies are a low-cost, high-value way to reduce risk and provide clarity before committing to a development. Put simply, they are the most important element of any marine project.
What is a feasibility Study?
A feasibility study is a preliminary assessment of whether a project can be delivered successfully. We create a report that highlights the possibilities and constraints within key parameters of budget, legal compliance, environmental restrictions, and structural regulations.
Our role is to give clients a clear understanding of constraints and costs before they invest significant time or money. This ensures projects begin with realistic expectations and a clear path forward.
What to expect in a feasibility Study?
- Defining the Brief
We start by sitting down with our clients to understand what they want to achieve with this project. Sometimes the vision is highly specific; other times it is broader, with some uncertainty around the final outcome. As consultants, our job is to interpret these objectives and establish a clear project aim.
- Establishing Key Assumptions
Feasibility studies rely on a series of assumptions — such as indicative construction costs, approval timeframes, and projected usage or demand. We make these assumptions explicit at the outset so clients know what the study is based on and how changes to these factors could affect the outcome.
- Identifying Constraints
Every project has constraints — legal, environmental, structural, financial and more. We map these out early and in detail, referencing requirements set by governing agencies alongside project-specific considerations.
Within this step, we provide as much detail as possible regarding approval processes, communication strategies and other recommendations to educate our clients on what to expect.
- Preliminary Design Sketch
Our team develops a simple sketch of the proposed project, including the key elements that need to be considered. This is not a final design but a tool to test the project against approval regimes and compliance requirements.
- Compliance Assessment
We use a straightforward yes/no/maybe system to assess each factor influencing project approval. Where challenges exist, we outline what would be required to achieve compliance. This gives clients a transparent view of potential delays or hurdles.
We also aim to outline potential threats to the budget in line with any additional work. This can result in multiple ‘options’ being presented.
- Cost and Revenue Analysis
Two financial breakdowns are provided. The first covers an estimate of construction costs. The second is a full project cost estimate. This covers not just construction costs but also professional fees for architects, engineers, legal representatives, and other consultants.
For commercial projects, we go one step further by analysing potential revenue streams and long-term financial outcomes.
- Feasibility Rating
Based on these assessments, we assign the project a feasibility rating — low, medium, or high risk of approval by relevant governing bodies and reasonable project budgets.
The Outcome
At the end of a feasibility study, our clients receive a clear and realistic understanding of their project. This includes:
- The likelihood of approvals
- The constraints they may encounter
- The key assumptions underpinning the study
- A transparent breakdown of costs
- (For commercial clients) projected revenue and financial positioning
From there, clients can decide whether to move forward with confidence, adjust their approach, or hold off on the project.
If the study shows a project is not viable, we’ve fulfilled our role in protecting our client’s interests. If it is feasible, the client has a clear foundation for the next step — developing a procurement plan.
With decades of experience in marine consultancy, MFA combines design thinking with regulatory expertise to guide clients through the early stages of development. Our feasibility studies save time, reduce risk, and give projects the best possible chance of long-term success.
Let’s Get in Touch
Contact details
Phone: +61 2 9450 2070
E-mail: mfa@mfa.com.au
Address: 2/5 Narabang Way, Belrose NSW 2085 Australia
Opening hours:
Monday — Friday 9:00 – 5:30