What is the primary purpose of conducting feasibility studies before starting a construction project?

The primary purpose of conducting feasibility studies before starting a construction project is to assess the viability and potential challenges of the project. This involves a comprehensive analysis of various factors such as market demand, financial implications, site conditions, regulatory requirements, and potential environmental impacts. By performing a feasibility study, stakeholders can identify risks and limitations that might affect the project's success and sustainability.

This critical assessment helps in making informed decisions about whether to proceed, modify, or abandon the project based on its potential for success. While determining costs and budget is an important aspect of project planning, it comes after the feasibility has confirmed that the project is viable. Similarly, finalizing designs and hiring subcontractors are steps that occur later in the project lifecycle once the feasibility study demonstrates that pursuing the project is a sound decision.