The construction project lifecycle is a natural progression from the needs assessment which is either driven by reducing demand supply gap for a particular service or providing new experience to the users of facility till actual construction and operation of facility. There are various steps in this journey and completion of each step marks an important milestone of construction project. It is very important to undertake each step in most thoughtful and systematic manner. The formulation and appraisal of a construction project is the most important step in the construction project lifecycle. The importance stems from the fact that the analysis conducted in this step helps the client to understand complexities associated with the project and finally take decision to commit substantial resources for next steps like designing, procurement and construction. This studio focuses on this important step of project formulation and appraisal by dwelling in detail on micro processes like analysis of demand, location, finance, technology and cost benefit, concept planning, project scheduling, procurement strategy, environmental impact assessment, stakeholder management, bid process management and project controls.