What factors should be considered in the feasibility study of engineering project construction?

First, the importance of feasibility study to the investment decision of engineering projects

1. Feasibility study is the direct basis for project decision.

Feasibility study is essentially the concrete establishment and construction of a scheme. It is the most important link of a project investment or not. The investment system of socialist market economy is a diversified investment pattern composed of countries, localities, units and individuals. Therefore, the investment owners and the national examination and approval authorities mainly decide whether to invest and how to invest according to the evaluation results provided by the feasibility study, which is the decision-making document of the project construction unit.

2. Feasibility study is the basis of compiling project design documents.

Once the feasibility study is passed, it means that the project is formally established and preliminary design can be carried out. And put forward the specific operation plan of the next project design, and the preliminary design should not violate the principles demonstrated in the feasibility study. In the feasibility study, the site selection and construction scale of the project have been fully demonstrated and studied, and the preparation of design documents should be based on the feasibility study report.

3. Feasibility study is an important basis for the construction unit to raise funds, especially to borrow from banks.

Where a project borrows from a bank, a feasibility study report of the project must be submitted to the relevant departments, and the report needs to predict the financial benefits, economic benefits and repayment ability of the project in detail. The approved feasibility study is an important basis for the project construction unit to raise funds, especially for applying for bank loans or state subsidies, and is also the basis for joint ventures by other investors. Banks and relevant state departments can use this as a prerequisite for applying for project loans. After reviewing the feasibility study, they can conduct a comprehensive and detailed review of the construction project and decide whether to lend after the project is really feasible. International financial organizations such as the World Bank and financial institutions such as China Construction Bank and China Development Bank all require the submission of feasibility study reports as a prerequisite for applying for construction project loans.

4. The approved feasibility study is the basis for the project construction unit to apply for construction land from land development and other land management departments.

Because the feasibility study puts forward the methods and measures of how to make rational use of the land of the proposed project, the report includes the demonstration of the general layout, environmental and ecological protection schemes. The national development department and the land management department may, according to the feasibility study, specifically review the land use plan, review whether the construction conforms to the urban planning and the impact on the environment, and go through the land use procedures. In order to ensure that the project meets the environmental protection standards, the feasibility study report defines the environmental protection measures and methods in the environmental protection plan as required, which can be used as the basis for the environmental protection department to conduct environmental assessment on the project, specifically study the governance measures and issue the construction permit documents.

5. Feasibility study is the basis of project management during the project construction period and an important link of project construction management.

Feasibility study should not only systematically analyze and comprehensively demonstrate the proposed project, but also judge whether the project is feasible and worth investing, and make repeated comparisons in order to seek the best construction scheme and avoid the huge waste of manpower, material resources and financial resources and time delay caused by the changeable project scheme. This requires strict examination and approval system of project proposal and feasibility study report to ensure the quality and sufficient depth of feasibility study report. If you can't put forward a high-quality and practical design task book at the early stage of design and express the construction intention in standard technical terms, it will naturally be impossible to effectively control the whole design process. If the preliminary design of the project can't control the outline and main functions of the project, or rush into the construction drawing design with only a rough plan, there will definitely be problems in the management and construction of the design project. If the overall goal in the feasibility study is not well controlled, the design process will change constantly, and designers will be at a loss. Paying attention to one thing and losing another will often lead to the congenital deficiency of the product. Therefore, the preliminary design budget must be within the budget control range of the feasibility study report. If the preliminary design is not approved, it shall not enter the stage of construction drawing design, and major design changes must be reported to the original approval authority for examination and approval. Avoid increasing investment in engineering construction to make project management out of control, resulting in "semi-finished projects" and "beard projects", which will bring huge losses to the country and investment owners.

In the real economic environment, the owner's construction unit hopes to tap the potential to reduce the project cost, especially some private and individual owners, lack technical experts to certify and study their projects, and are unwilling to pay a high price to hire a qualified consulting agency to conduct a feasibility study on the project, so that many unresolved problems in the feasibility study are hidden in the project, only in form but without substance, and cannot provide a good design environment for the design stage, resulting in the design work should not be repeated, even in. Therefore, doing a good job in feasibility study is the premise of doing a good job in design project management. Decision-making mistakes not only have no economic benefits for the project, but also may cause great losses. Feasibility study is an important means to prevent design project management from becoming a decision-making mistake and ensure the responsibility of project construction and the operational benefit after production.

6. Feasibility study is the basis of post-project evaluation.

Post-evaluation of construction project is to evaluate whether the actual operation effect of the project has reached the expected goal after the project is completed and operated for a period of time. The expected goal of the construction project is determined in the feasibility study report. Therefore, the post-evaluation should be based on the feasibility study report to evaluate the degree of realization of the goal.

Second, the recent feasibility study problems and causes analysis

In recent years, the feasibility study of project investment decision, as a legal procedure, has been widely used in the investment activities of various projects in China, which has played a very good role in reducing "fishing projects" in the investment of domestic and foreign engineering construction projects, putting an end to "decision projects", effectively controlling investment and ensuring scientific decision-making. However, there are still some outstanding problems in the actual operation process: first, the feasibility study is not deep enough and the quality is not high enough to meet the needs of decision-making; second, the feasibility scheme is single and there is no choice. The third is to investigate the distortion of project investment income calculation caused by shallowness. Fourthly, the feasibility study report lacks independence, impartiality and objectivity. Fifth, research and analysis do not pay attention to sensitive issues and risk factors. Sixth, investment units pay more attention to consultation than evaluation, and pursue high "pass rate" in the evaluation process of feasibility study report, which causes no small hidden dangers.

Third, do a good job in the feasibility study measures

1, feasibility study on improving project investment decision-making consulting institutions.

In order to meet the needs of socialist modernization and market economic system reform, China's survey, design and engineering consulting units must realize two major changes: first, they must be transformed into enterprises, from institutions affiliated to departments in the past to independent market competitors, and establish a modern enterprise system. The second is to change the operating mechanism, from a functional organization limited to a specific industry in the past to a social intermediary organization that serves the whole process of investment and construction and follows the market mechanism. At present, it is of great practical significance to strengthen the internal reform of engineering consulting, survey and design enterprises and strive to improve the quality of the team. Nowadays, foreign engineering consulting and design machines will enter China, and it is imminent that international competition will become domestic competition. This requires engineering consulting and design units to bravely go to the market, make the feasibility study and design work to a new level, change ideas, strengthen management, and enhance the sense of responsibility of technicians. Design is a bridge to transform science and technology into productive forces. Every line, every point and every number on the map represents technical responsibility and certain funds. The quality of design is directly related to engineering construction. The feasibility study should focus on quality control and scientifically analyze the project scale, construction standards, process layout, industrial planning and technological progress. Personnel engaged in feasibility study should truly establish the spirit of serving the country and the construction owners, be familiar with national and local laws, policies and regulations on engineering construction, accurately grasp relevant professional knowledge, constantly learn new technologies, truly grasp the development direction of the industry scientifically, independently and without any interference, improve the depth and quality of feasibility study, and provide excellent products for the society.

2. Further improve the understanding of the role of feasibility study.

The construction practice of investment projects at home and abroad for many years has proved that even if the feasibility study with a certain amount of money proves that the project is not feasible, it is better than blindly investing in project construction without feasibility study. As far as the overall benefit of the project is concerned, the cost of the feasibility study conducted in the early stage of the project is less (usually less than 1 ~ 3% of the total investment), and the main investment of the project is in the construction stage; The feasibility study in the early stage of the project has the greatest impact on the project life cycle, and a slight mistake will lead to the failure and irreparable loss of the project, while the work in the construction stage has little impact on the project life cycle. It can be seen that the feasibility study in the early stage of the project is important for investment. Therefore, it is necessary to continuously improve the understanding of the importance of feasibility study of investment projects and do a good job in research and demonstration in the early stage of investment. Reaffirm the role of feasibility study in economic construction. As a scientific method, feasibility study plays a very important role in investment decision. From a macro perspective, feasibility study is related to national economic development, industrial structure adjustment, technological progress and sustainable development. Microscopically, feasibility study is related to the success or failure of investment projects and enterprises. From the practice of developed countries, feasibility study is an effective means of investment decision. All investment projects should be studied objectively and fairly, and projects should be selected through feasibility study.

3. Reform the economic system and project management system, and enhance the main body's awareness of macroeconomic efficiency.

It is necessary to strengthen the reform of economic system, cultivate a perfect market, dredge all the circulation links of production factors, make the production factors flow freely and quickly, make the flow of the whole production factors and the flow of local production factors stand out, and make people realize that ignoring the allocation of macroeconomic resources will lead to the failure of project analysis, thus gradually eliminating the residual influence of the planning system. Establish a project management system that pays equal attention to both financial benefits and national economic benefits, increase the content that project participants are responsible for the national economic benefits of the project in the "four systems", especially the "project legal person responsibility system", establish their legal status, and incorporate the national economic benefits of the project into all aspects of project management such as project analysis, approval, implementation and acceptance.

4. Explore the method of project feasibility study and formulate corresponding industry standards.

Improve the project analysis and acceptance criteria, highlighting economic analysis and national economic benefits. In the standardized design of project analysis, it is necessary to change the current practice of standardizing only financial analysis and not economic analysis. The contents of economic analysis, including methods and evaluation indicators, should be added to the national documents on project analysis, so that the conclusions of feasibility analysis are based on financial analysis and economic analysis, and the conclusions of economic analysis are the main ones. In the design of project acceptance criteria, on the one hand, it is necessary to establish and improve the indicators for evaluating the national economic benefits of the project, on the other hand, it is necessary to make it clear that the indicators for evaluating the national economic benefits of the project should meet the standards when the project is accepted, so as to urge the project subject to pay attention to the national economic benefits of the project in the process of project implementation.

5, the establishment of the proposed project feasibility study content audit system.

Many people in China always think that the feasibility study and project evaluation of investment projects have been done, and the preliminary work has been done. Actually, it is not. Drawing lessons from international experience, there is actually a problem of re-examining the conclusion of the feasibility study of investment projects. This is another important aspect of investment project decision-making, and it is the last link of decision-making control at the "gateway" of project audit management. Abandoning or ignoring this link may bring hidden dangers to the proposed investment project.

The conclusion of the feasibility study of re-auditing investment projects is to transfer the management of investment projects by audit supervision from the current common audit management of project performance and implementation stage to the pre-feasibility study stage of investment projects, audit the main contents of feasibility study, and ensure the accuracy, scientificity and standardization of investment decision-making procedures by using the "double guarantee" measures of project evaluation and feasibility study audit. This is an extremely effective way to control investment decision-making mistakes from the source. Therefore, it is an urgent task to establish an audit system for the feasibility study content of the proposed project during the examination and approval of major investment projects at home and abroad.

In a word, feasibility study is in the conceptual stage of project implementation, which can be said to be the core content of the project conceptual stage. To determine the feasibility of the project, it is necessary to comprehensively demonstrate and evaluate the fields, total investment, economic benefits, technical feasibility, environmental conditions, funds, policy support and social benefits involved in the project. The feasibility demonstration of the project will have a direct and huge impact on the success or failure of the project and the investment income; The project feasibility demonstration that determines whether the project is approved or not contains rich connotations. The requirements of the feasibility study report are objective, comprehensive, true, scientific and fair.