The onset of winter in Mumbai did not deter the participants from attending the “Project Feasibility workshop” conducted by the Industry Project Feasibility Expert who comes with over 12 years of experience in the field.
Students came with several questions like, “why should we do project feasibility as it’s a huge investment and a time consuming process? What are the different aspects involved “, how long does it take to do the complete analysis and does the study guarantee success?”
The Speaker began the workshop by answering the questions to why a project feasibility study is important for every developer holding a land and intending to develop on it. She highlighted that even if a developer has decided on developing a project based on his gut feeling, a project feasibility report from a reputed agency helps him get the desired funds from the bank easily.
But so then how do we initiate a project feasibility study? Do they have a set format? Are the objectives common? The answer to that is no. It is very important to ensure the objectives are defined in every project feasibility analysis. Like whether I would want to develop a residential, commercial, mixed use, retail, hotel project etc. She gave an example of how important it is to consider the financial resources of a developer for a period of 7-8 years in a case where the developer intends to develop a hotel. Every project feasibility report would include analysis of 4 broad categories namely: Market, Technical, Project and Financial.
With concepts clearly explained in the morning and after a lovely lunch treat courtesy swiggy and box8, the students got more clarity in the form of various project case studies of hotel s and residential projects at Chorward (the birth place of Mr. Mukesh Ambani), Ghaziabad and Pen
Concepts like DCF Model, Technical Appraisals, and Site SWOT Analysis were the key takeaways. Project Feasibility is not an individual activity and needs expertise from the various technical experts in the field of legal, finance, technical, marketing etc.
REMI is a leading institute that provides certification programs, executive courses and customized training workshops for the Real Estate Industry delivered by renowned industry experts. REMI has established key educational partnerships such as IREM®, USA and Project Management Institute (PMI), Mumbai that enable us to offer best practices and global curriculum, at our centers in Mumbai and Ahmadabad.
REMI is also the preferred education partner of CREDAI – MCHI and knowledge partner of Practising Engineers Architects & Town Planners Association (PEATA).
REMI offers programs in Gujarat through the collaboration with Ganpat University.
For more details visit www.remi.edu.in