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What is the definition of success?
It is often not a question of yes or no but what is the proper scope. Is there a large enough critical mass to attract sustainable visitation? Will the business program create a profitable operation? Are we able to see our markets realistically? Can we expand our concept and generate incremental new business? These are the questions our clients ask us to study. The answers can make or save them millions of dollars. |
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Everland, South Korea
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Corporate Philosophy
ECS is a consulting firm in the field of economic planning. Our principals have more than 75 combined years professional experience in this field, providing exceptional depth and breadth in consulting services. We specialize in the recreation and leisure industry, where we have acquired detailed experience in virtually all of its many facets. In addition to this, our expertise in economic planning and problem solving spans the entire range of land-use possibilities: hotels, retail shopping centers, conference centers, destination resorts, mixed-use urban complexes, office buildings, and industrial projects. Our approach to consulting services is practical and action-oriented. Our aim is to provide clients with an economic plan ready for implementation a detailed, but clear and concise economic blueprint for moving a project ahead. |
Why Hire an Economic Consultant?
Feasibility analysis and programming is the process of testing a project’s concept and program for financial viability at a specific site. The process begins with the concept development, market analysis, comparable and competitive analysis, attendance and use projections, the development of planning parameters and ends with the preparation of a detailed financial model and financing plan. The analysis seeks to determine whether the economic, legal, political, physical, and market environments favor the successful development of a project. It creates a business plan for the project that will be required for the architectural and design functions as well as for attracting financing. The consultants approach should be practical and action-oriented. The aim is to provide clients with an economic plan ready for implementation - a detailed, but clear and concise economic blueprint for moving a project ahead. The consultant must work directly with designers and architects to develop a project concept, or to sharpen concept definition until it makes economic sense.
Once a project has been defined, the next step is to develop an economic master plan with specific recommendations as to the venture's scope, phasing, revenue potential, operating cost, and other essential factors for design and operation. In every case, the objective should be to provide the client with planning parameters so that his architects can produce a design of maximum efficiency for the available economic opportunity, and so that he can organize for operation in a manner geared to economic success. Ultimately the process should assist clients to secure financing for their projects in addition to answering questions from local authorities. In order to assure credibility with the financial community, the consultant should be independent of any design firm, but must collaborate with leaders in the field. Independence must be preserved to maintain objectivity and to assure clients that the consultant has no financial bias which might prompt unwarranted approval of infeasible projects, or unnecessary or uneconomic expansion in scope. Given the innate unpredictability in any project, feasibility analysis seeks to determine probability. It should be used to make reasonable estimates of a project’s feasibility. While it cannot ensure a project’s success, a feasibility study is an invaluable tool in helping clients to decide whether to proceed with a project, guide architects and designers to properly size a project, create a budget for the development and answer major questions for lenders or investors.
Feasibility analysis and programming is the process of testing a project’s concept and program for financial viability at a specific site. The process begins with the concept development, market analysis, comparable and competitive analysis, attendance and use projections, the development of planning parameters and ends with the preparation of a detailed financial model and financing plan. The analysis seeks to determine whether the economic, legal, political, physical, and market environments favor the successful development of a project. It creates a business plan for the project that will be required for the architectural and design functions as well as for attracting financing. The consultants approach should be practical and action-oriented. The aim is to provide clients with an economic plan ready for implementation - a detailed, but clear and concise economic blueprint for moving a project ahead. The consultant must work directly with designers and architects to develop a project concept, or to sharpen concept definition until it makes economic sense.
Once a project has been defined, the next step is to develop an economic master plan with specific recommendations as to the venture's scope, phasing, revenue potential, operating cost, and other essential factors for design and operation. In every case, the objective should be to provide the client with planning parameters so that his architects can produce a design of maximum efficiency for the available economic opportunity, and so that he can organize for operation in a manner geared to economic success. Ultimately the process should assist clients to secure financing for their projects in addition to answering questions from local authorities. In order to assure credibility with the financial community, the consultant should be independent of any design firm, but must collaborate with leaders in the field. Independence must be preserved to maintain objectivity and to assure clients that the consultant has no financial bias which might prompt unwarranted approval of infeasible projects, or unnecessary or uneconomic expansion in scope. Given the innate unpredictability in any project, feasibility analysis seeks to determine probability. It should be used to make reasonable estimates of a project’s feasibility. While it cannot ensure a project’s success, a feasibility study is an invaluable tool in helping clients to decide whether to proceed with a project, guide architects and designers to properly size a project, create a budget for the development and answer major questions for lenders or investors.
