Property Economic and Valuation

Throughout the lecture which taught by Sam Moorwood, I had learnt that how to apply those techniques to appraise a project viability. I found out that the modern techniques of net present value (NPV) and internal rate of return (IRR) is more practical and accurate for appraising when we are comparing the payback period of average annual rate of return. As this techniques will be involving the consideration to the financial interest, a serious impact on the economic viability of project could be occur. In the past of my study, I do study about this techniques but never have the chance to apply it. This module had gave me the chance to apply it in the assignment and I understand that the importance of the NPV and IRR which if the project has positive NPV and IRR which mean that the project is worth to be invest as it showing the confirmation of profitability of the development and able to cover the capital and budget.

This will be new knowledge for me as it assisting me in accessing the economic viability of project. It could help me and I could apply this techniques and knowledge in the future workplace. Besides that, it also help to enhance my cost management skills which CIOB professional competencies framework is requiring. 

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