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As a major part of Semester I, Masters in Construction Engineering and Management, the principal topic for Studio 1 is “Construction Project Formulation and Appraisal” as the topic for study. The topic talks about the formulation of a real-life project, by doing a feasibility study. The appraisal of the selected project is done by carrying out a number of analyses like – Context, Problem & Option, Demand, Location, and Financial. Some of the strategies for risk and stakeholder management of the project have also been carried out, and a baseline schedule and cost breakdown of major components is also calculated to understand the control parameters of the selected project. The study comprises of Project formulation of an Amusement Park which is proposed near the world’s Tallest Statue – the “Statue of Unity”, situated in Kevadiya, Narmada District. The project is proposed by the Government of Gujarat, the Governing authority who is selected by GOG for the project is the Tourism Department. The area of the proposed site is 50 acres. The estimated cost of the project is 240 Cr. (Two Hundred and Forty Crores)