The purpose of this project is to invest resources in the preparation of detailed guidance notes and information papers to support European Valuation Standards, and to encourage best practice in valuation. A publication has already been produced which details valuation standards (known in the industry as the ‘Blue Book’), but the partners wish to transfer this material and adapt it for use as training material in the different partner member states. The output will be a series of modules which will be a logical extension of the ‘Book’. This will be achieved by expanding and updating sections, and, crucially, introducing local practice manuals and case studies as a series of papers, available online and in hard copy, which will enable the book to be used both in a training context and as a guide for professional practice in the industry.
Within the sector, the ‘Blue Book’ has made a huge contribution to European standards in valuation. Compilation by The European Group of Valuers’ Association (TEGoVA) members was a lengthy task, but is a first-rate example of European cooperation and collaboration. However, it is not of much use to professional practice, qualifications or training. This need is particularly great as: u there is a requirement for much greater sophistication in training; and u training would benefit from an e-learning element, and there needs to be a re-balancing of this with face-to-face teaching and work-based competence training.
This project has been granted funding under the Leonardo da Vinci ‘Transfer of Innovation’ programme for a period of 24 months, starting 1 October 2009, and it is expected that it will involve: u the transfer of the ‘innovation’ inherent in the content of the ‘Blue Book’ to partner countries and to others in the TEGoVA network, so that it can have practical value at a local level; u the development of the content so that it can be used for training and as a multipurpose guide as to how to conduct a valuation in a wide variety of situations. The output will take the form of modules, which will be transnational in outlook, but much of which will contain content specific to a particular country. Effectively, the ‘Blue Book’ will become a practice manual with strong training elements, in which E-learning will be an important feature; and each partner will be expected to produce ideas for transnational modules with transnational applications, but crucially they will make suggestions as to how to take the ‘Blue Book’ and adapt it for use at a local level, to include specialist areas such as law on land lease, supported by case studies.
Under the contract it is expected that the work will be shared between the partners.
The specific objectives are:
- to improve professional standards within the sector;
- to improve general skills levels of all people working in the valuation profession;
- to enhance the links and cooperation between the different organisations in the project;
- to increase employment opportunities for people working in the sector, especially transnationally;
- to make an improved training model a reality beyond the period of Leonardo intervention;
- in the longer term, the project will result in increased mobility of valuation professionals so that, subject to meeting local requirements, people working in one member state will be able to offer advice and services in relation to another without hindrance; and
- to implement the idea of a trans-European vocational qualifications framework for European valuers.
The partnership is a combination of:
- the IRRV;
- SNPI, a French trade association which is a leader in its field;
- TEGoVA, an ‘umbrella’ organisation; u
- Polish Federation of Valuers Association (PFVA);
- ANEVAR, the Romanian Valuers’ Association; and
- Registru Centras, The Lithuanian State Register of Property. The IRRV is lead partner, and already has a well developed education department which offers its own training and qualifications, accredited by UK QCA. This role is critical to providing the necessary credibility, and it has developed innovative methods for the delivery of training and qualifications, which will be used to provide advice and support for practical implementation of qualifications development and accreditation at a European level.
The target groups of beneficiaries will be:
professional valuer trainees and their employers who wish to offer an improved and more transparent form of training. It is estimated there are 100,000 valuers in 42 countries who would have an interest in engaging with this material;
individuals who have an interest in valuation, either by virtue of the fact that they might be considering a career in valuation, or have an interest through working in local government; and
consumers, who have an interest in ensuring that they are being fairly assessed for local property-based taxes. The project will be undertaken in a series of ‘work packages’, into which partners are expected to have considerable input. These are:
Consortium management. The establishment of organisational structures, channels of reporting between the various groups and committees involved in the project. Communication will also be established with selected outside organisations, such as appropriate government departments, NGOs and other interested groups, such as those responsible for a training provision;
Development of modules. This work package will include the development of the material, and it is expected that it will be made available electronically. Selected modules will be made available over the internet to enable beneficiaries working on the project to use an electronic medium. Accurate translations will be made at a later stage after the plenary group has approved the final draft;
Testing and evaluation of modules when completed. A special working group will undertake this and will provide feedback and recommend appropriate changes;
Valorisation. The aim of this work package is to ensure that material produced adds value to that already available, and to create the widest possible awareness at a professional level and within professions associated with this sector. It defines the external relationships of the project and includes marketing and dissemination. An additional element to this package relates to the commercialisation of the modules developed during this project;
Finalisation of the project. To complete the project, modules should be produced in bound paper format, and also electronically; and
Translation. The modules will be made available in English and all the languages of the participating partners.
In short, the partners have an asset, the “Blue Book”, which is a standards manual. This is currently owned by and marketed by TEGoVA, and is an innovative piece of work in its own field. It has taken valuation practice methodology from different member states and moulded it into a single document. However, much work has still to be done in developing it into a practice manual which can also be used as a serious training resource.
The partnership has an opportunity to make a huge contribution to valuation standards and practice internationally through the coordination of trans-European collaboration. The impetus has been created by the rapid expansion of the EU and the desire of all member states to become part of a European best practice and standards network, and the recognition by the Commission that Europe should have a powerful voice in this important area. The funding granted for this project will enable these plans and ideas to be implemented.
TEGoVA represents the interests of qualified valuers of 40 professional bodies from 24 countries.
Besides setting standards for the customer and representing the interests of its members,TEGoVA provides a unique conduit for business.
From small specialist consultancies to major private sector companies and government departments both local and national, the individuals who belong to TEGoVA's constituent bodies represent a cross-section of the profession.