In the construction industry, the term "valuation of works" refers to the process of determining
the value of completed or partially completed construction projects. It is a crucial aspect of
construction contracts and financial management for both contractors and clients. Valuation of
works is typically performed periodically (e.g monthly) throughout the duration of a project to
assess the progress and determine the amount of money that should be paid or received.
Performing a valuation of works and property involves determining the monetary value of
construction works or real estate. Valuations are important for various purposes, including
financial reporting, investment analysis, insurance, taxation, and property transactions. The
methods used for valuation can vary depending on the type of property or works being assessed.
- Teacher: NSANZIMANA VINCENT