Things To Know Before Hiring A Feasibility Study Consultant

Feasibility consultants are experts in this field. They know how to assess the data and do better market research for the client. If you are looking for hiring a feasibility study consultant in Dubai, you must understand all of the factors that can impact your project. These include the cost, timeline, and impact of the study on your capital campaign. In this article, we’ll discuss what questions to ask to ensure that you get the best value for your money.

Make sure they are capable of presenting the most accurate findings

If you are planning to hire a feasibility study consultant to evaluate your project, there are some questions that you should ask them. One important thing to consider is whether the consultant can provide you with all the information you need to make the best decision. Many consultants are tempted to tell clients what they want to hear, so you need to make sure that the consultant is capable of presenting the most accurate findings.

Cost of a feasibility study

Hiring a feasibility study consultant is an expensive investment. The consultant will have to analyze your business’s financial, technical, and operational aspects and come up with a recommendation on how to maximize its success. The costs will vary depending on the scope and complexity of your business. Some feasibility study consultants charge as much as Dh 10,000, while others charge far less.

Timeline for completing a feasibility study

When conducting a feasibility study, many factors must be considered. One of these factors is the amount of time and resources it will take. A feasibility study may take anywhere from a few weeks to several months. For example, a feasibility study for a multimillion-dollar building project may take six months or more. If the feasibility study also involves assessing hazardous materials or environmental impacts, the timeline may be further pushed back.

Impact of a feasibility study on a capital campaign

A feasibility study is an important component of any capital campaign. It helps nonprofits understand their donors’ preferences and how they give. Traditionally, nonprofits have learned about their donors by tracking data and asking them for donations. But a feasibility study should be more like a conversation with the donors, removing the pressure of asking for gifts.