Valuation & project economics
Putting a defensible number on an asset or a project, and knowing which method the situation calls for. The concept layer under every feasibility, DPR and appraisal deliverable — what the numbers mean, before any spreadsheet.
Needed across Real-Estate Development / Land Advisory / Research, Real-Estate Finance / REIT / PE Research, Planner / Senior Planner — Urban & Regional Planning Consultancy, World Bank / ADB Urban & Infrastructure Roles
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Course outline
Learn from selected clips, concept by concept
Concept 1
What valuation is, and why two valuers differ
Why Can Two Appraisers Value the Same Property Differently? #appraisal #appraisals #appraiser #home
Living in Auburn AL | Laura Sellers, Realtor BHHS · English · beginner
Why this clip: The speaker explains three key reasons why home appraisal values differ between valuers, including timing, appraisal purpose, and selection of comparables.
Concept 2
Money today vs. money later
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Concept 3
The rate you shrink future money by
After: time-value-of-money
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Concept 4
Net Present Value
After: discount-rate
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Concept 5
IRR and the hurdle rate
After: npv
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Concept 6
Payback period, and why it is not enough
After: irr-and-hurdle
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Concept 7
Cost of capital and WACC
After: discount-rate
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Concept 8
Discounted cash flow valuation
After: npv, cost-of-capital-wacc
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Concept 9
Cap rate and yield
After: dcf-valuation
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Concept 10
Comparable / market approach
After: what-valuation-is
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Concept 11
Cost / depreciated-replacement approach
After: what-valuation-is
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Concept 12
Economic vs financial appraisal (EIRR vs FIRR)
After: npv
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Concept 13
Choosing the right method
After: dcf-valuation, cap-rate-and-yield, comparable-method, cost-method
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What was rejected
16 candidates did not meet the course criteria.
- High-level summary that omits detailed methods and explanations for differing valuer estimates.
- Does not explain why different valuers arrive at different property valuations.
- covers inflation only, without discounting
- Does not explain how the discount rate / cost of capital is calculated or determined (e.g., via WACC or risk adjustments).
- Presents the formula without a worked cash flow
- Does not explain the hurdle rate or the investment decision rule comparing IRR against a required rate of return.
- Does not explicitly mention or explain the term Net Present Value (NPV), showing only its mathematical formula briefly on screen.
- Does not explain the major limitations/weaknesses of payback period, such as ignoring cash flows that occur after the payback point.
- The video focuses on defining and calculating the payback period for even cash flows, but does not explain why payback period alone is insufficient or detail its major limitations such as ignoring cash flows after payback.
- Frames DCF purely as equity/stock valuation (EBIT, share price, market cap) with no transferable asset-level logic
- Frames DCF purely as equity/stock valuation (EBIT, share price, market cap) with no transferable asset-level logic
- This video focuses on the Land & Building (Cost Approach) method rather than the Comparable Market Approach.
- Provides a qualitative explanation with a car insurance analogy but lacks numerical calculations or specific real estate breakdown of land value plus rebuild cost.
- The video focuses specifically on shadow pricing rather than explicitly contrasting economic appraisal (EIRR) with financial appraisal (FIRR).
- The video focuses primarily on corporate shadow price definitions rather than contrasting economic and financial project appraisal.
- Lists the methods without any guidance on selection
Where this skill is used
Real-Estate Development / Land Advisory / Research
Working for developers, land/real-estate advisory firms (JLL, CBRE, Knight Frank, Anarock) and in-house development teams on feasibility, market research, land use, and project planning. A natural fit for a planning + real-estate lens. Specialisation tags: Urban, Housing, Infrastructure.
11 mapped employers
Explore path →Real-Estate Finance / REIT / PE Research
Real-estate-focused finance and investment research at REITs, PE/RE funds, and bank/NBFC real-estate desks — where a planner's land-use/feasibility lens is an asset alongside finance skills. Direct entry is realistic mainly with deliberate finance up-skilling, CFA/RICS/valuation exposure, or specialized real-estate education. Specialisation tags: Urban, Housing, Infrastructure.
8 mapped employers
Explore path →Planner / Senior Planner — Urban & Regional Planning Consultancy
Consultancy work preparing master plans, development plans, town-planning schemes, and area development for government clients and authorities — from boutique planning houses to large multidisciplinary consultancies (incl. L&T and the planning divisions of global engineering firms). The default private destination; campus-recruited. Specialisation tags: Urban, Regional, Urban Design.
10 mapped employers
Explore path →World Bank / ADB Urban & Infrastructure Roles
Urban, transport, and infrastructure work at the multilateral banks — project preparation, technical assistance, and analytics, usually entered via consultant/STC contracts or (rarely, very competitively) the Young Professionals Program. Specialisation tags: Urban, Infrastructure, Transport.
9 mapped employers
Explore path →