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Essay / Research Paper Abstract
A 2 page paper. The 1999 revision of the Uniform Standards of Professional Appraisal Practice (USPAP) incorporated the phrase scope of work throughout the Standards. This essay explains what is meant by scope of work and the importance of the scope of work decision. Bibliography lists 2 sources.
Page Count:
2 pages (~225 words per page)
File: MM12_PGscpre.rtf
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Unformatted sample text from the term paper:
for appraisers had to do with the scope of work concept (Coleman, 2001). These are found in Standards 1, 3, 7, and 9 (Coleman, 2001). It was the inclusion of
the term scope of work throughout that was different (Coleman, 2001). While the phrase may seem innocent enough, in reality, it presented a new framework for appraisers when "approaching a
variety of valuation problems" (Coleman, 2001, p. 211). In the past, the USPAP Standard Rules were viewed as being equally applicable in each appraisal but under the new framework, "applicability
of the Standards Rules is dependent on the scope of work identified by the appraiser to be appropriate to that specific assignment" (Coleman, 2001, p. 211). This provides the appraiser
with a great deal more flexibility and it changes both the appraisal process and the mindset of the appraiser as he or she takes on a job (Coleman, 2001). Coleman
explains that the new framework anticipates a process where: * The appraiser will identify the purpose and the use of the appraisal assignment (Coleman, 2001, p. 211). * The appraiser
then decides the appropriate scope of work based on the purpose and use of the appraisal (Coleman, 2001, p. 211). * The appraiser then "applies the Standards Rules within the
development standards given the scope of work identified" (Coleman, 2001, p. 211). * Based on the foregoing, the appraiser then prepares a report following the Standards Rules for reports. The
report will reflect the intended use of and the purpose of the appraisal (Coleman, 2001, p. 211). Intended use is defined as "the use to which the client (and any
other intended users) will put the results of the assignment--the reason why the client contacted the appraiser to begin with" (Coleman, 2001, p. 211). The word purpose means the nature
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