Investigating factors affecting feasibility study of construction projects in iraq

Abstract

The views at the construction field emboss that construction parties are looking for a higher benefit during implementing aspects of any project. The feasibility study is one of the serious and significant matters in construction sectors as well as in other engineering fields as it has a high impact on investment decision-making. To gain rigorous decisions from decision-makers or contractual parties (client, consultant, and contractor), there is a need for valuable feasibility studies in any construction project. This paper aims to study the influence of some identified factors on feasibility studies as well as the extents of priorities of various feasibility studies. In this paper, the critical factors that have an impact on sequences of initial feasibility studies during the lifecycle of a construction project were identified as well as the associated studies (legal, environment, marketing, technical, managerial, schedule, financial and economic). In this study, 12 factors were identified, analyzed, and thoroughly discussed to have recommendations of their impact on initial feasibility in construction projects in Iraq via a questionnaire survey and a series of expert interviews conducted in Iraq. The Analytical Hierarchy Process (AHP) as a multi-criteria decision support system was adopted to examine the weight of each factor. In addition, an analysis by the Relative Importance Index (RII) was carried out to rank eight types of feasibility studies in terms of their perceived importance. The results of AHP indicated that the local shortage of database about the feasibility study was the most critical factor. Indeed, RII's result showed that all kinds of feasibility for construction projects in Iraq are not adopted by the client. In fact, the economic feasibility study was the most popular than others.