Surveyors and Property Consultants

Regeneration & Strategic Development


Appraisal & Option Analysis

 

A thorough understanding of a project is an essential prerequisite to its successful delivery.  Such an understanding of the prospects of success at inception, the on-going performance and likely outcome is found through project appraisals.   We have undertaken many project appraisals for many different clients and client groups in the past.  Our approach can either follow one of the many traditional appraisal approaches or we regularly undertake bespoke appraisals tailored to a client’s or projects specific needs.  Whilst appraisals are often needed for funding purposes or as part of Government support and need to follow National or European Government Guidelines, generally good practice demands a rigorous approach to project delivery and project appraisals form part of that review process.

 

Project appraisals may be in relation to any part of a project and may be undertaken at inception, at any time throughout a project lifespan or may be undertaken upon completion.  Appraisals are undertaken for a wide range of reasons including such matters as; delivery appraisals - will the project meet its required outcomes; risk appraisals – what threats are there to the delivery of a project and how can these be mitigated; holistic appraisals – looking at all of the constituent parts of a project in order to identify whether they will successfully work together. Financial appraisals are the most frequently undertaken form of appraisals with financial viability appraisals being the most common.  Financial viability effectively underpins every project and a thorough understanding of a project’s financial make up and its prospects and viability balance is extremely important.  We have a lengthy track record of undertaking all forms of financial and viability appraisal on all manners of different project types. 

 

Appraisals at the start of projects should define the approach to the project, marshal the resources for delivery and set benchmarks and milestones, during project appraisals allow monitoring of progress enabling adjustments to be made and facilitate comparison to key performance indicators, whilst at completion projects can be reviewed to see if the expected outcomes have been achieved.

 

Projects, and any individual parts of projects, invariably have a number of different ways in which they can be delivered or achieved.  Understating the relative merits, issues, costs and prospects of success of differing approaches requires a thorough and rigorous options analysis.  An options analysis must legible, systematic and robust.  We have devised and undertaken many options analysis for clients in relation to a range of different project types.

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