Scope that supports confidence
A price comparison is only as good as the method behind it.
Defining scope from the outset goes to the heart of valuation defensibility, risk management, and overall project success. All major professional bodies consistently emphasise the importance of a clearly articulated scope, as it underpins valuation credibility, informs risk allocation, and establishes the basis on which the valuation can be relied upon. Just as importantly, a well-defined scope sets clear and shared expectations for both the client and all project stakeholders from the beginning.
A robust scope framework will typically articulate:
the purpose of the valuation
the basis of value
the assets to be valued
the extent of investigation and inspection (for example, full, limited or desktop)
key assumptions and limitations
the nature and sources of information relied upon
In our experience, requests for quotations and tenders for valuation services can present a wide range of inspection expectations, particularly when dealing with large and diverse asset portfolios. For certain asset classes, sample-based inspection methodologies are widely accepted and often appropriate, reflecting the scale of the asset base, program timeframes, and the relative value profile of individual assets within the class.
While there is no prescriptive rule governing inspection sample sizes, our approach is to ensure that inspections undertaken are representative of the asset type and condition profile, and/or focused on the higher-value components of the register. This enables reliable unit rates to be developed and appropriately applied across the broader dataset. The methodology for extrapolating inspection findings is clearly articulated within our proposal to ensure transparency and confidence in the outcomes.
We find that early and open discussions around inspection strategies and sampling approaches allow us to tailor a scope that is both commercially efficient and technically robust. Our focus is always on achieving the right balance, ensuring the inspection program is sufficiently rigorous to support a comprehensive valuation, while also recognising the practical and timing constraints that commonly arise with high-volume asset classes.
To support this, every portfolio-based engagement Australis will incorporate a structured scope proforma at project commencement. This provides a practical platform for clients to explore opportunities for refinement and value-add, however, where this information is available prior to project award, it supports clearer alignment of scope, methodology and resourcing, and contributes to a more efficient and predictable project outcome. Apart from the standard procurement requirements, some of the considerations when forming this tender may include:
Confirming the completeness and accuracy of the asset register, or identifying whether a targeted stocktake would be beneficial
Clarity around the number of facilities, sites or assets proposed for inspection, as this directly informs inspection effort, resourcing requirements and overall program efficiency.
Consider whether GPS tagging is required
Determine appropriate value thresholds for inspection and valuation purposes, versus broader asset management objectives
Assessing whether a rolling inspection program across multiple years could better manage costs and delivery timelines.
Embedding these considerations early, ideally at the tender or request stage, helps ensure that proposals received are genuinely comparable and aligned on a like-for-like basis. It also reduces the potential for scope refinement or cost adjustments post-award. Pricing means nothing without a consistent method. If the methodology differs, so does the outcome: different methods, different answers, different risks. Scope instructions do not need to be onerously long. We have found that concise, well-considered tender documentation, often in the order of 5–7 pages, can effectively capture project intent, requirements and desired outcomes, enabling us to apply our expertise efficiently and deliver strong results.
Our priority is always to deliver outcomes that meet, and where possible exceed, client expectations. Clear, early alignment on scope enables a shared understanding of objectives and ensures the valuation process is efficient, defensible, and delivers maximum value for all parties involved.
Comparable quotes only matter if the methodology is comparable.
