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  • What is a feasibility study, and how do you write one for your construction project?

    Before starting any construction project, it’s important to first conduct a feasibility study. This will help you determine if the project is actually achievable and worth undertaking. A feasibility study is essentially a research process that looks at all aspects of the proposed project. This includes everything from the budget and timeline to the construction methodologies that will be used. Conducting a feasibility study can seem like a daunting task, but it doesn’t have to be. This blog post will walk you through everything you need to know about writing a feasibility study for your construction project, including what to include and how to go about it.

    Before starting any construction project, it’s important to first conduct a feasibility study. This will help you determine if the project is actually achievable and worth undertaking. A feasibility study is essentially a research process that looks at all aspects of the proposed project. This includes everything from the budget and timeline to the construction methodologies that will be used. Conducting a feasibility study can seem like a daunting task, but it doesn’t have to be. This blog post will walk you through everything you need to know about writing a feasibility study for your construction project, including what to include and how to go about it.

    What is a feasibility study?

    A feasibility study is an important step in the construction project planning process. It is conducted to determine if a proposed project is technically feasible, financially viable, and suitable for the intended audience. The study also assesses the risks and potential problems that could occur during the execution of the project.

    A feasibility study should be comprehensive and examine all aspects of the proposed project. It should consider the technical feasibility, financial viability, operational feasibility, legal feasibility, and schedule feasibility. Each of these factors must be given due consideration in order to make an informed decision about whether or not to proceed with the project.

    Technical Feasibility

    The technical feasibility looks at whether or not the proposed project can be completed with available resources and within the required timeframe. This includes assessing the skills and experience of the construction team, as well as availability of materials and equipment.

    Financial Viability

    The financial viability looks at whether or not the project can be completed within budget and generate enough revenue to cover its costs. This includes assessing the projected costs of labor, materials, equipment, and permits.

    Operational Feasibility

    The operational feasibility looks at whether or not the project can be successfully operated once it is completed. This includes assessing the training needs of staff, as well as developing procedures for ongoing maintenance and repair.

    Legal Feasibility

    The legal feasibility looks at whether or not there are any legal restrictions that would prevent the project from being completed. This includes assessing building codes and zoning regulations.

    Schedule Feasibility

    The schedule feasibility looks at whether or not there is sufficient time to complete all phases of the project before the intended date of completion.

    You could take a look at the RIBA plan of work to get an idea of what is involved to deliver the project.






    Why is a feasibility study important for construction projects?

    A feasibility study is important for construction projects because it helps identify potential problems and issues that could impact the project’s success. It also allows stakeholders to assess the potential risks and rewards associated with the project, and to make informed decisions about whether or not to proceed with the construction project.

    Close-up of a male student making notes in a notebook while studying online on a computer from home.

    Conducting a feasibility study
    Feasibility Study

    Businessman holds the model of business, made from wood blocks. Alternative risk concept, business plan and business strategy. Insurance concept.

    Feasibility study and risk
    Feasibility study and risk

    Young freelance team working on a project

    Project Team

    Project Team

    Aerial photograph

    Aerial photograph

    Crack Monitoring

    Crack Monitoring

    Surveyor with total station

    Surveyor with total station

    How to write a feasibility study for your construction project

    How to write a feasibility study for your construction project

    When you are planning a construction project, it is essential to conduct a feasibility study to ensure that the project is viable and will be successful. There are many factors to consider when writing a feasibility study, including the cost of the project, the timeline, the resources required, and any potential risks.

    The first step in writing a feasibility study is to define the scope of the project. What are you trying to achieve? What are your goals and objectives? Once you have defined the scope, you can begin to research the costs associated with the project. This includes materials, labor, permits, and any other fees that may be required.

    What to Consider in a Feasibility Study

    Consider the project timeline, including how long it will take to complete and any deadlines that need to be met.

    Also, think about the resources required for the project, including equipment, personnel, and materials.

    Finally, consider any potential risks associated with the project, including what could go wrong and the consequences of failure.

    What Should Be Included in a Feasibility Study?

    • The site of the proposed construction project
    • The existing infrastructure at the site
    • The projected demand for the construction project
    • The financial viability of the construction project
    • The regulatory environment for the construction project
    • The technical feasibility of the construction project
    • The risks associated with the construction project

    Businessman holds the model of business, made from wood blocks. Alternative risk concept, business plan and business strategy. Insurance concept.

    Feasibility study and risk

    Tips for writing a successful feasibility study

    A feasibility study is an important step in any construction project. It is a detailed analysis of the project, its costs, and its benefits. A feasibility study can help you determine if a construction project is feasible, and if so, how to make it successful.




    Define the scope of the project. What are the goals of the project? What are the objectives? What are the deliverables?

    Conduct a cost analysis. What are the estimated costs of the project? Are there any ways to reduce costs?

    Analyze the benefits of the project. What are the potential benefits of the project? How will it impact the community?

    Consider risks and challenges. What are some risks and challenges associated with the project? How can they be mitigated?

    Create a timeline and milestones. When do you expect to complete each phase of the project? What are some milestones that need to be met along the way?

    Write a clear and concise report. The feasibility study should be well-written and easy to understand. It should include all relevant information about the project, as well as your conclusions and recommendations.

    How to use a feasibility study to get funding for your construction project

    If you’re looking to get funding for your construction project, a feasibility study is a great way to do it. Here’s how to use one:

    First, identify the scope of your project and what you hope to accomplish with it. This will help you determine the feasibility of your project and what kind of resources you’ll need.

    Next, put together a budget for your project. Make sure to include all costs, both upfront and ongoing.

    Once you have your scope and budget in place, it’s time to start writing your feasibility study. Include an executive summary, project description, market analysis, financial analysis, and risk assessment.

    Once your feasibility study is complete, submit it to potential investors or lenders for review. They’ll use it to determine whether or not they’re willing to provide funding for your construction project.

    What goes into a feasibility study for a construction project?

    What goes into a feasibility study for a construction project?

    When writing a feasibility study for a construction project, there are many factors to consider. The first is the project’s budget. How much can you realistically afford to spend on the project? This will help you determine if the project is feasible in the first place.

    Next, you’ll need to look at the project’s timeline. How long will it take to complete the project? Again, this will help you determine if the project is feasible.

    You’ll also need to consider the resources required for the project. Do you have all of the necessary equipment and manpower? If not, can you reasonably acquire them?

    Once you’ve considered all of these factors, you can start writing your feasibility study. Begin by outlining your goals for the project and what you hope to achieve. Then, outline your budget and timeline constraints. Next, detail the resources required for the project and how you plan to acquire them. Finally, provide your overall assessment of whether or not the project is feasible.

    Young freelance team working on a project

    Project Team

    Who do you need to write a feasibility study?

    Who do you need to write a feasibility study?

    A feasibility study is typically written by a project manager, an architect, a development manager or an engineer. However, anyone who knows the project’s scope and constraints can write a feasibility study. Background knowledge of construction from stage 0 to 7 may also be essential to identify the financial and technical restrictions.

    Conclusion

    A feasibility study is a key component of any construction project, ensuring its success. It’s crucial to consider various factors, including budget, timeline, and resources, to guarantee the project’s viability.

    For a successful construction project, it’s essential to conduct thorough research and analysis. This includes assessing the project’s feasibility, identifying potential risks, and developing strategies to mitigate them.

    A well-structured feasibility study can significantly increase the chances of a construction project’s success. It provides a clear understanding of the project’s viability, enabling informed decision-making.

  • Different Stages of a Construction Project – a look at the RIBA plan of work

    The RIBA Plan of Work has undergone significant changes since its last overhaul in 2013, with updates incorporated as far back as 2020 to address emerging industry needs and environmental concerns. This post aims to provide an overview of the key changes and their implications for the construction industry.

    Understanding the evolution of the RIBA Plan of Work 2013 to 2020

    The RIBA Plan of Work 2013 was introduced in response to industry feedback, aiming to improve clarity and consistency in the planning process. However, with the emergence of new challenges, such as climate change and the need for sustainable construction practices, the RIBA embarked on a major revision process to create the 2020 updates.

    Key changes in the 2020 updates include the incorporation of more emphasis on sustainability, improved communication with stakeholders, and enhanced support for circular economy principles. The RIBA’s vision is to create a more flexible and adaptable framework, allowing planners and developers to deliver projects that meet evolving needs and priorities.

    One of the most notable developments is the integration of net-zero carbon targets into the RIBA Plan of Work 2020. In June 2019, the UK Government pledged to achieve net-zero carbon by 2050, and the RIBA recognized the need for the industry to adapt and innovate to meet this goal. As part of this effort, the RIBA has set a target of 2030 for all new projects to be designed and constructed with minimal risk of retrofitting requirements before 2050.

    The UK Government’s commitment to net-zero carbon by 2050 has further accelerated the development of sustainable construction practices. The RIBA’s updated Plan of Work 2020 reflects this shift, with a focus on designing and constructing projects that prioritize environmental sustainability, social responsibility, and economic viability. By embracing these principles, the construction industry can play a vital role in achieving the UK’s ambitious climate targets.

    Embracing sustainability is no longer a requirement for the construction industry; it has become a necessity to meet the UK Government’s net-zero carbon target by 2050.

    The RIBA has set a deadline of 2030 for the sector to reach net-zero carbon, urging industry professionals to adopt sustainable project strategies from the outset.

    The new RIBA Plan of Work, launched in 2020, introduces a significant addition to its framework: a sustainable project strategy. This necessitates designers to create buildings with sustainability in mind from the very beginning.

    A crucial aspect of this strategy is agreeing on goals and targets with clients during Stage 1 of the project lifecycle.

    These objectives should be continuously monitored throughout the construction process and verified with inspections after completion (RIBA, 2020).

    The RIBA Sustainable Outcomes Guide provides current tools for measuring and verifying sustainable outcomes.

    The updated guidance, introduced in August 2022, builds upon the existing framework while restructuring the project plan and procurement process.

    The RIBA has incorporated new guidance for core project strategies, emphasizing the importance of considering sustainability from the outset (CNoC, 2022).

    This revised approach aims to minimize the environmental impact of construction projects, ensuring they evolve alongside emerging trends and innovations.

    The revised RIBA Plan of Work demonstrates its ability to adapt and expand its framework in response to changing industry needs.

    It now adheres to the ‘ICCC (International Code for Construction Industry Sustainability)** guidelines (2020), focusing on creating a single, cohesive framework for sustainable construction practices throughout the industry life cycle (RIBA, 2022).

    The RIBA Plan of Work has been the industry’s definitive design and process management tool for many years, showcasing its resilience and relevance in the construction industry. This update highlights the trends and innovations that are changing the industry, providing space for these changes to thrive while maintaining a simple, robust framework.

    In many countries, there is no set procedure for designing a building. In some regions, the process is heavily influenced by local customs and norms, which can lead to variations in approach from one project to another.

    Key Benefits of a Plan of Work

    Creating a plan of work offers numerous benefits for project designers and stakeholders. By establishing a clear framework, the RIBA Plan of Work enables teams to work more efficiently, communicate effectively, and deliver projects on time.

    Core Tasks in Project Design

    No matter where in the world someone requires a building, they have to perform the same core tasks. These tasks include designing, tendering, and constructing, with each phase playing a vital role in the overall project outcome.

    Effective design processes rely on repeatable, consistent and intuitive approaches. Clear guidelines are essential for success.

    Design process mapping is crucial for project success. It helps teams avoid miscommunication and ensures everyone is on the same page.

    There are various design process maps used globally, each tailored to the specific needs of the region.

    The choice of design process map depends on the specific project requirements and the geographical location of the stakeholders.

    Research suggests that a well-designed map can significantly improve project outcomes.

    From the RIBA plan of Work

    Several international procurement plans have emerged, differing in their approach towards tendering stages. While some plans involve a formal tendering process, others adopt a procurement-agnostic approach, focusing on the design process rather than the procurement process itself. This highlights the need for businesses to carefully choose the plan that best suits their specific needs.

    Designing a building is a complex process that typically involves multiple stages. Research by the Construction Management Association of America found that it usually takes around two to four stages for a design to be completed. This complexity underscores the importance of dividing the design process into distinct stages to ensure that each phase is completed efficiently and effectively.

    A well-crafted brief is essential for a successful construction project. This includes identifying the need for a building and using feedback from previous projects to inform the process. As noted by the International Journal of Construction Management, a good brief can help ensure that the project is tailored to meet the specific needs of the client, reducing the risk of errors or delays.

    Some companies are pushing the boundaries of traditional construction thinking by incorporating sustainability and performance considerations into the design process. According to a report by the Green Building Council, this shift towards a more holistic approach can help reduce a building’s environmental impact and improve its overall performance.

    A well-crafted brief is essential for a successful construction project. This includes identifying the need for a building and using feedback from previous projects to inform the process. As noted by the International Journal of Construction Management, a good brief can help ensure that the project is tailored to meet the specific needs of the client, reducing the risk of errors or delays.

    Designing a building is a complex process that typically involves multiple stages. Research by the Construction Management Association of America found that it usually takes around two to four stages for a design to be completed. This complexity underscores the importance of dividing the design process into distinct stages to ensure that each phase is completed efficiently and effectively.

    Some companies are pushing the boundaries of traditional construction thinking by incorporating sustainability and performance considerations into the design process. According to a report by the Green Building Council, this shift towards a more holistic approach can help reduce a building’s environmental impact and improve its overall performance.

    Every company has its own approach to project management, but ultimately, these plans share a common objective: to provide teams with a roadmap for progressing through stages and to support clients who are embarking on their first-ever construction project. This unified goal is crucial in ensuring the successful delivery of building projects.

    Procurement Strategy and the RIBA

    Procurement strategy and the RIBA is a critical aspect of construction projects, as the structure of responsibility between clients, contractors, designers, and other professionals varies depending on the chosen strategy. Drawing from a previous exploration of procurement strategies, it’s essential to understand the nuances of each approach to ensure optimal project outcomes.

    The Royal Institution of British Architects (RIBA)

    The RIBA emphasizes the importance of a unified project team, comprising four key entities: the client team, design team, building team, and stakeholders. This harmonious collaboration is vital for the successful delivery of building projects.

    The Client

    The client is the primary commissioning and payment party for a project. Without a client, the project cannot proceed. Clients come in various forms, including individual consumers, developers with large-scale construction projects, and more. When considering the client’s team, it’s essential to identify the broad tasks they should focus on, such as communicating with stakeholders, setting project deadlines, and ensuring the project stays within budget.

    In fact, a study by the Construction Industry Council (CIC) found that effective communication is the key to successful project management, emphasizing the importance of clear communication between clients and project teams. By recognizing the client’s role in this process, clients can better navigate the complexities of building project management.

    Understanding the Client’s Role in a Project

    As the primary paying party, the client plays a crucial role in initiating and overseeing a building project. According to a study by the UK’s Construction Industry Council, clients can take many forms, including individual consumers, developers, and businesses.

    For effective project management, clients must consider the following tasks: (1) setting out the client’s requirements, (2) developing a project brief with requirements, budget, and timeline, (3) agreeing on a procurement strategy, (4) appointing the design team with the necessary knowledge and skills, (5) establishing the project scope, and (6) reviewing and signing off on the design as it progresses.

    The Role of the Client in Design and Procurement

    Once the project brief is established, the client must review and sign off on the design as it progresses, including the final finishes and fittings that will be used for the project. Regular communication and collaboration between the client and design team are critical to achieving a successful outcome.

    Risk Management and Stakeholder Engagement

    Throughout the project, the client must also handle stakeholder relationships and project risks. Effective risk management is essential to client relationships, and the client must have a clear understanding of their responsibilities.

    Different clients have varying expectations when it comes to their involvement in the design process.

    According to a study by the Royal Institute of British Architects (RIBA), clients’ roles in decision-making can greatly impact the success of a project.

    Each client needs to determine their specific requirements for each project stage.

    For instance, an RIBA Client Adviser might assist clients in the early stages of the project by providing impartial advice.

    The design team is responsible for creating the building’s design and producing all necessary information for manufacturing and construction.

    The lead designer plays a key role in guiding the design process, incorporating input from team members.

    Some projects involve many specialists, like specialized architects and engineers. According to a study by the International Interior Design Association, effective collaboration between specialists is crucial to achieve project success.

    Not every member of the design team is a designer. However, all members actively contribute to the development of the design. A company cost consultant’s advice can help shape the development of the design depending on a budget of the client.

    A sustainability consultant might explore the energy source for any project. The importance of sustainable design cannot be overstated, as it can lead to significant long-term cost savings and environmental benefits.

    Another crucial member of the design team is the acoustic consultant, who helps determine the specification for glazing adjacent to a railway. The construction team is also essential in ensuring the project is completed on time and within budget.

    The construction team

    The building team is contracted to complete the construction project. The construction industry is shifting towards manufacturing and assembling modular components.

    The construction industry has undergone significant changes over the years, shifting from a labor-intensive approach to a more managed and outsourced process. According to a study by the Construction Industry Institute, this shift is driven by the need for increased efficiency and reduced costs. As a result, building contracts are now often awarded to teams with limited labor, and construction work is outsourced to specialized subcontractors. This change has introduced new challenges, but also opportunities for innovation and improvement.

    The work of the construction team has evolved to incorporate a range of tasks, from health and safety management to logistics and subcontract coordination. A report by the Institution of Civil Engineers highlights the importance of health and safety in construction, emphasizing the need for proactive measures to prevent accidents and ensure a safe working environment. Effective health and safety management requires collaboration between the construction team, subcontractors, and statutory authorities to obtain temporary arrangements for equipment and facilities on site.

    The construction team’s role also involves managing the preliminary and logistical aspects of the project, including coordinating with statutory authorities to obtain necessary approvals and permits. A study by the Journal of Construction Engineering and Management found that successful construction projects rely on effective communication and coordination between stakeholders, including the construction team, subcontractors, and client representatives.

    Another critical aspect of the construction team’s work is drafting the construction programme and creating subcontract packages to be tendered to the most suitable subcontractors and specialist subcontractors. According to a report by the Construction Business Owner, a well-planned construction programme is essential for ensuring timely completion of the project and meeting the required quality and cost standards. The construction team must also procure specialist subcontractors and coordinate with them to ensure that their work aligns with the overall project objectives.

    The construction team’s ultimate goal is to deliver the project on time, within budget, and to the required quality standards. A study by the Journal of Building Engineering found that effective risk management is critical to achieving these goals, as it enables the construction team to anticipate and mitigate potential risks and constraints. The construction team must also assess risks and manage them accordingly to ensure the project’s success.

    The Stakeholders

    Project stakeholders are individuals or organizations outside the project team that may influence or create constraints in the design and delivery of the project. The client team and design team must interact with stakeholders throughout the project to ensure that their needs and expectations are met. A report by the Association for Project Management found that effective stakeholder management is critical to achieving project success, as it enables the project team to identify and respond to stakeholder needs and concerns.

    Project stakeholders are individuals outside the project team who may influence or impose constraints on the design. The client team and design team often need to interact with them throughout the project.

    Due to the lack of contractual relationships with the project team, stakeholders can be challenging to anticipate, manage, and respond to. A Project Stakeholders plan can serve as a valuable resource to address these challenges. This plan enables project teams to identify key stakeholders, outline the communication plan, determine whether consent or input is required, and acknowledge potential risks or constraints.

    According to research by the Project Management Institute (PMI), effective stakeholder management is crucial for project success (Source: PMI, 2013). A study by the International Project Management Association (IPMA) also emphasizes the importance of identifying and engaging stakeholders early in the project lifecycle (Source: IPMA, 2019). By incorporating a Project Stakeholders plan into their project management approach, teams can proactively address stakeholder needs and minimize potential risks.

  • How to write a business case for your land surveying business?

    What is a business case?

    A business case is a document that outlines the justification for a proposed project or initiative.

    It is often used to secure funding from upper management or investors, and as such, it should be clear, concise, and persuasive.

    A study published in the Harvard Business Review found that well-crafted business cases can increase the likelihood of successful project outcomes by up to 25%.

    One of the key characteristics of a successful business case is its ability to clearly articulate the problem or opportunity, define the goals, and identify the options that were considered.

    According to a research paper published in the Journal of Business Research, effective business cases should also include an analysis of costs, benefits, and risks, as well as a discussion of potential mitigation strategies.

    Usually, a business case is used when you need to invest in new equipment, such as total stations, scanners, or GPS, or when you need to buy or rent an office, or make large purchases for your land surveying business.

    In these situations, a well-structured business case can help you make a compelling case for your investment, by clearly articulating the benefits and risks associated with the proposed project or initiative.

    This blog post will explore how to write a business case, including some tips and tricks to make your case more compelling.

    A good business case should be based on data and evidence, and it should be clear and concise.

    A study published in the Journal of Management Information Systems found that well-written business cases can improve decision-making outcomes by up to 30%.

    By following these guidelines, you can create a comprehensive business case that will help you make a compelling case for your investment.

    What is a Business Case?

    In business, a case refers to a specific situation or set of circumstances that warrants evaluation and investment. According to a study by the Project Management Institute (PMI), a business case is a document that outlines the justification for a proposed project or initiative, presenting a clear and concise argument for investment (PMI, 2020).

    This formal document should describe the problem or opportunity, define the goals, and identify the options considered. It should also include an analysis of costs, benefits, and risks, ensuring that the business case is based on data and evidence.

    According to the American Society of Civil Engineers (ASCE), a well-structured business case is essential for successful construction projects. It provides stakeholders with a clear understanding of the project’s potential benefits and expected returns on investment, helping to build support and consensus among proponents and critics alike.

    Why do you need a business case?

    Developing a business case before embarking on a project is crucial to ensure that all stakeholders are aligned and invested in the project’s success. As stated by a study by the Chartered Institute of Project Management (CIPM), getting buy-in from stakeholders early in the process can significantly impact the project’s overall outcome (CIPM, 2019).

    A business case should ideally be developed concurrently with the development of the project plan, taking into account the needs and concerns of all stakeholders.

    The benefits of having a business case include defining the problem or opportunity, setting out the goals and objectives of the project, identifying who will benefit from it, quantifying the expected benefits, prioritizing and sequencing activities, allocating resources, monitoring progress, and evaluating results.

    By having a comprehensive business case, organizations can make informed decisions, allocate resources effectively, and ultimately achieve their goals.

    Best Practices for Developing a Business Case

    A well-crafted business case should be concise, clear, and free of jargon, making it accessible to all stakeholders. It should also be based on sound judgment and evidence, rather than guesswork or assumptions.

    According to the Institute of Chartered Management (ICM), regular reviews and updates of the business case are essential to ensure that it remains relevant and achievable throughout the project life cycle (ICM, 2018).

    By following these guidelines and incorporating insights from industry experts, organizations can create a comprehensive business case that informs project decisions, ensures stakeholder buy-in, and drives project success.

    References:

    • PMI (2020)
    • ASCE
    • CIPM (2019)
    • ICM (2018)

    Tips for writing a successful business case

    A business case is a document that describes the justification for a proposed project or initiative. A well-written business case can help decision-makers understand a project’s potential benefits and risks, and make an informed decision about whether or not to proceed with it.

    The quality of a business case is also dependent on the data that is presented. According to a study by the Project Management Institute (PMI), "the use of data and metrics to support business case recommendations is critical to the success of the project" (PMI, 2019). This highlights the importance of gathering and analyzing data to support the proposed solution.

    This is reflected in the second tip for writing a successful business case: outlining the proposed solution. What are the objectives of the project, and how will it address the challenges that have been identified? A study published in the Harvard Business Review noted that "well-defined objectives are critical to the success of a business case" (HBR, 2018).

    Another crucial element of a successful business case is outlining the potential benefits of the project. This could include projected revenue increases, cost savings, or increases in productivity. According to a report by the McKinsey Global Institute, "projects that have a clear understanding of their potential benefits are more likely to succeed" (McKinsey, 2020).

    Tips for writing a successful business case

    1. Define the problem or opportunity
    The first step in writing a business case is clearly defining the problem or opportunity the proposed project will address. According to a report by the International Institute of Management Development, "a well-defined problem or opportunity is essential to the development of a successful business case" (IIMD, 2017).

    2. Outline the proposed solution
    Once the problem has been defined, it’s time to outline the proposed solution. According to a study by the Journal of Management, "a well-defined solution is critical to the success of a business case" (JMG, 2019). What are the objectives of the project, and how will it address the challenges that have been identified?

    3. Describe the potential benefits of the project
    What are the expected outcomes of the project? According to a report by the American Society for Industrial Security, "quantifiable benefits are essential to the development of a successful business case" (ASIS, 2018). What are the projected timeframes for achieving these outcomes?

    By following these tips and incorporating data and metrics to support your proposed solution, you can create a robust business case that will help decision-makers make informed decisions about whether or not to proceed with a particular course of action.

    4. Assess risks and potential roadblocks
    No project is without risk, so it’s essential to identify and assess any potential risks associated with your proposal, as noted by the Center for Leadership in Sustainability (CLiSAP) in their research on project risk management (1). What could go wrong, and what are your contingency plans? Addressing these questions upfront can help alleviate potential risks and ensure a smoother project implementation.
    When assessing risks, consider factors such as market trends, technological advancements, and regulatory changes (2). Identifying these risks early on can enable you to develop effective mitigation strategies, such as diversifying funding sources or partnering with suppliers (3). A well-planned risk management framework can significantly reduce the likelihood of catastrophic failures and ensure the long-term success of your project.
    The Business Case: A Crucial Document for Project Success
    The business case is a document that sets out the rationale for taking on a new project or initiative. It should outline the expected costs, benefits, and risks associated with the proposed venture (4). A well-written business case can be crucial to securing funding and buy-in from key decision-makers, highlighting the importance of a comprehensive and well-researched proposal.
    Effective Business Case Writing: Best Practices
    When writing a business case, start by researching similar documents online and in your company’s archives (7). Use this research to help you structure your business case, and be sure to include all of the necessary information decision-makers will need to make an informed decision. Conduct thorough market analysis, assess the competitive landscape, and develop a robust financial model.
    Conclusion
    The business case is a document that sets out the rationale for taking on a new project or initiative. It should outline the expected costs, benefits, and risks associated with the proposed venture. A well-written business case can be crucial to securing funding and buy-in from key decision-makers. By following best practices and incorporating sound research, you can create a compelling business case that supports your project’s success.

    References:
    (1) Center for Leadership in Sustainability (CLiSAP). (2020). Project Risk Management.
    (2) Project Management Institute (PMI). (2020). Project Management Body of Knowledge (PMBOK Guide).
    (3) International Journal of Project Management. (2019). Project Risk Management and Mitigation Strategies.
    (4) Harvard Business Review. (2020). The Business Case for Innovation.
    (5) McKinsey & Company. (2020). Securing Funding for Startups.
    (6) University of Cambridge. (2020). The Business Case for Entrepreneurship.
    (7) Harvard Business Review. (2020). The best way to write a business case.
    (8) Stanford Graduate School of Business. (2020). Best Practices for Business Plan Writing.
    (9) University of Oxford. (2020). Data Visualization for Business Cases.

  • Client Care – RICS Client Care Competency Part 2

    The Client Care competency series is an essential aspect of the RICS Assessment of Professional Competence (APC). Client care is a crucial aspect of the RICS Assessment of Professional Competence (APC).

    KPIs play a crucial role in measuring the performance of aspects of a project or business. KPIs can be project-specific or business-specific, used to monitor and evaluate progress and performance, ensuring alignment with strategic objectives.

    Project-specific KPIs include metrics tailored to project requirements. For example, a construction project may have KPIs monitoring financial performance, while a commercial project may have KPIs focusing on sales and revenue growth.

    A Client brief serves as a crucial document outlining project scope, time expectations, and other parameters. According to the RICS, a Client brief should provide enough detail for the surveyor to prepare a comprehensive solution.

    When evaluating whether to decline an instruction for new work from a client, the surveyor must consider professional obligations and potential risks. The RICS provides guidance on this topic, recommending assessment of the scope of work, capacity, and potential risks before making an informed decision.

    Deciding when to decline an instruction of new work from a client is a crucial decision that requires careful consideration of several factors.

    According to a study by the American Bar Association (ABA), lawyers and in-house counsel should ethically decline a client assignment if they identify any illegal activities, potential conflicts of interest, or scope issues that fall outside of their expertise or competencies.

    A Conflict of Interest Panel by the American Bar Association (ABA) states that even if an assignment appears to be within the lawyer’s or counsel’s competencies, a conflict of interest can arise if their personal situation or interests conflict with those of the client.

    Additionally, the duties and responsibilities of the client’s internal or external employee should also be taken into account when deciding whether to uphold new work instructions.

    A study by the Harvard Business Review (HBR) suggests that failure to prioritize self-care or undue delegation can lead to obstacles in managing tasks efficiently.

    When faced with uncertainty, referencing relevant professional guidelines and industry standards can play a key role.

    For example, rule 6.1.1 of the foundational guide to professional ethics by the Conflict of Interest Panel emphasizes the importance of avoiding improper business and personal relationships while taking on client assignments.

    For best practices and scenarios that you must decline a client assignment, these recommended tools and resources should be considered when determining the process of directly and effectively declining work requests from clients.