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When analyzing the viability of a proposed development, you are conducting feasibility studies. This process is essential as it evaluates various aspects of the development project to determine whether it is practical and financially viable.

Feasibility studies encompass an analysis of the market, financial implications, environmental impact, and regulatory requirements, ensuring that all critical factors are considered before proceeding with a project. This comprehensive examination helps stakeholders understand the potential success of the development and identifies any significant risks that may arise, allowing for informed decision-making.

Other options focus on different aspects of the development process. Consultation typically involves discussions and engagements with stakeholders but does not specifically assess viability. Site Utilization and Land-Use Studies concentrate on optimizing the use of land and understanding zoning laws or environmental impacts rather than assessing complete project feasibility. Value Management focuses on maximizing the value of a project through cost-benefit analysis and design optimization but does not directly address the broader viability assessment that feasibility studies provide.