Feasibility+ blends the analytics and the creative for efficient decision-making
In a world where time and information are more essential than ever, decision making these days is often done in less time, yet with more at stake than ever. One of the most important aspects that leisure project developers must have completed by experienced industry experts is the all-important feasibility study. Said Dennis Speigel of ITPS, “While this part of the project development is often considered the most boring, as it is based on facts and analytics, it is at the same time one of, if not the most critical piece of the puzzle. It is the solid foundation required upon which the project is fine-tuned and developed.”
The feasibility study contains critical background and supporting information, often in the form of graphs and charts, that are essential for a client to make informed decisions that will lead to the success of any project. Overall, they provide the developer with the viability of the project.
However, in today’s world, sometimes charts and graphs take a second place to fast-moving imagery and videos. Because project developers today are often pressured to present whole concept packages along with feasibility study basics to potential investors, the analytical side of feasibility production could sometimes benefit from modernization, yet in a cost effective manner. Enter Feasibility+
Said Pam Westerman of ITPS, “In addition to Concept+, which we featured in our last article, ITPS and TB have also partnered together to offer a Feasibility+ package. Combining the analytical and operational experience of ITPS, which is approaching 40 years, and the high concept stylistic approach that TB can bring to potential projects, the Feasibility+ package would give the project developer a complete presentation to market the idea to potential lenders and investors, thus increasing the chances of receiving much-needed funding.”
Added Shawn Haas of ITPS, “The Feasibility+ package can also be shared virtually, thus allowing projects to move forward even when travel and social distancing measures restrict us from personally presenting the excitement and possibilities of a viable project that will bring opportunity and joy to a community.”
This early high-concept package delivers a visual depiction of a tentative concept idea that provides a high level of entertainment value, that is targeted to a broad audience, and that sparks imagination on what the project could look like when properly and more fully developed. In a unique way, the ITPS-TB creative team adds the initial innovative conceptual ideas to the traditional feasibility study.
Feasibility+ packages can be targeted to the right audience with minimal adjustments to focus on the right information aimed at the right group, from an investment perspective to a community approval. Thelma Muro-Dittes of TB added, “Traditional charts and graphs within the feasibility that show project viability can be enhanced with audio, video, and project specific art to portray the real opportunity and possibilities of a project at this early and significant stage of project development.”
The highly-creative ITPS-TB team also has the benefit of international analytical operational experience, technical architecture experience, and international advertising and marketing experience. This combination is unmatched in the theme park and amusement industry. The combined efforts of the ITPS-TB team in this much-needed approach to the feasibility phase of a project will take an idea to reality in the most efficient fashion.
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Feasibility Analysis - Design / Masterplanning - Pre-Opening Operations Planning - Management