How to Complete Technical & Environment Due Diligence at Your Own Project Site?
Project site visits are a crucial step in the due diligence process. Understanding the site conditions will not only provide you with information on what to expect during construction, but also give you an idea of what to plan for. The best way to complete technical and environment due diligence at your own project site is by performing a geotechnical survey. This will help you identify any potential hazards that may be present and help determine the best course of action for construction. and mitigation.
TECHNICAL AND ENVIRONMENT DUE DILIGENCE
Project site visits are a crucial step in the due diligence process. Understanding the site conditions will not only provide you with information on what to expect during construction, but also give you an idea of what to plan for. The best way to complete technical and environmental due diligence at your own project site is by performing a geotechnical survey. This will help you identify any potential hazards that may be present and help determine the best course of action for construction and mitigation.
Technical due diligence entails identifying the type, size and location of existing underground utilities, along with any potential hazards that may be present. Environmental due diligence involves determining whether there are any hazardous materials in the soil or potentially contaminated ground water or surface water at the site that need to be addressed during construction. An environmental compliance plan should be prepared for any project that presents a potential environmental issue. Geotechnical study is the process of investigating the physical characteristics and conditions of earth materials by using engineering techniques such as ground penetrating radar and electrical resistivity tomography. Geotechnical investigations are used to determine soil characteristics, groundwater quantity, groundwater quality, resistivity variations in soils, susceptibility to liquefaction, and ground stability. A geotechnical study shall be generally conducted as part of a building project to determine possible site conditions so that the project may proceed correctly and safely.
Technical and Environmental Due Diligence Tools
Environmental pre-acquisition site assessments are typically conducted before the purchase of a property or land. The assessment is done to ensure that the property being considered for purchase is not contaminated and will not result in any future environmental liability. The presence of a hazardous material or pollutant can be assessed by conducting air and soil testing to determine the presence of pollutants. An environmental lab report is issued that details the findings of any contaminants present on the property, as well as recommendations for managing any hazards and an estimated cost. A pre-acquisition environmental site assessment is a comprehensive study of the environmental, social, and economic effects that a proposed development project may have on the surrounding environment. It is important before proceeding with any such purchase to ensure that all possible risks are assessed and mitigated prior to acquisition.
Brownfield pre-acquisition site assessments are typically conducted on properties that have been abandoned or have not been in use for a long time, such as industrial sites, factories, and mines. They are often conducted before redevelopment of the site, but may also be conducted to determine their value before the start of redevelopment. In these assessments, the condition of a site is assessed and its potential for reuse is determined. It is hoped that the assessment will reveal any environmental pollution or contamination on the site, either from previous use or natural causes, as well as any land use restrictions which could complicate future redevelopment. The goal is for the assessment to provide the investing company or project owner with a comprehensive understanding of the site, and how it could be redeveloped. The project is currently in its early stages, with initial plans focusing on developing a short list of potential development scenarios which range from light industrial to mixed-use.
Greenfield pre-acquisition site assessments are typically conducted on properties that have never been used before or have only had light use - such as residential sites or agricultural purpose. They are often conducted before construction begins on these sites to identify and mitigate the potential impacts to the surrounding ecosystem. Greenfield sites are often agricultural land, bare land, golf courses, farms, woodlands, or other open spaces that have never been developed before. Environmental Site Assessments are conducted before and during construction of a project to assess the surrounding ecosystems, identify impacts to the environment, and recommend mitigating measures that reduce these impacts. Environmental audit assessments are typically conducted on properties that have been used or developed previously - such as industrial sites or commercial developments. They can also be conducted on any property where there is a potential impact to the environment. "Environmental Impact Assessment (EIA) is a procedure that assesses and predicts the effects of a development project on natural resources and the overall environmental quality. The purpose of this assessment is to identify and mitigate any impacts or potential impacts associated with construction activities. It is typically conducted on a property that has been used or developed previously, such as industrial sites or commercial developments , instead of undeveloped or wooded areas.
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