![]() ![]() Keywords: Competency, curriculum upgrade, knowledge, multiplicity of assets, valuation Read more This study is significant in designing curriculum upgrade given the emerging demand for valuation of various assets within increasingly competitive and globalised market settings. Thus, it is recommended that benchmark curriculum for valuation education in Nigerian Universities and Polytechnics should be upgraded to accommodate these yearnings in practice. Probit analysis of the responses indicates significance being attached to machinery maintenance, environmental economics, introduction to structures and business accounting with asset analysis while introduction to machines and basics of industrial production were also found essential. ![]() Respondents were required to rate the importance of nine identified knowledge-imparting courses on a 5-point Likert-type scaling. ![]() Online questionnaire survey through SurveyMonkeyR was served on the entire 117 accredited members (with established electronic mail addresses) of the „Faculty of Valuation International‟, a social - professional wing of Nigerian Institution of Estate Surveyors and Valuers (NIESV) with 44 useable responses. Thus, there is the imperative for extended education to improve competencies for valuation, especially as regards non-real estate assets as most professional valuers have their background education within the real estate discipline. could further shut out traditional property valuers. This eclectic nature is already facing a challenge from Nigerian engineers in the aspect of machinery valuation and invariably, emerging economic activities tend to produce new specialists that. The field of property valuation is yet to have a settled domain, more importantly the aspect that concerns multiplicity of assets. View full-textĬovenant Journal of Research in the Built Environment (CJRBE), 6 (2), 1-12 The paper is aimed at disabusing the mind of both parties and concentrates on required objectivity that would improve professionalism in the valuation of all strands of property assets. It therefore concludes that ultimately, holistic property valuation need evolve as an interdisciplinary field independent of real estate discipline while in the interim, collaboration of multiple disciplines involving ESV, engineers and other allied professionals should be adopted for PEM valuation. Through a perspective discourse that analyses required inputs for property valuation and the strengths and weaknesses of each group, the paper found that ESV could neither maintain monopoly for the exercise nor are engineers capable of usurping the practice based on their subsisting academic and practice focus. borders on competence for professional valuation of assets in the nature plant, equipment and machinery (PEM). This paper therefore reflects on the lingering feud between estate surveyors and valuers (ESV) and engineers in Nigeria on issues that. Property valuation as a professional exercise occupies a unique position different from related concepts of ‘valuation’, ‘assessment’, ‘evaluation’ and ‘measurements’ that are pervasive in accounting, engineering, quantity surveying and medicine, among others. The study has revealed the need for extended curriculum focus for the education of property valuers but engendering further enquiries into appropriate nomenclature and scope of the academic discipline. A strong case was therefore made for inclusion of nine new knowledge areas with introduction to machines, environmental economics and machinery maintenance topping the list. The respondents overwhelmingly acknowledged the contribution of asset-specific courses like building construction, building maintenance and property law to their competence in valuing land and buildings (or real estate) and expressed subsisting difficulties during valuation of assets other than real estate, at measuring depreciation and interpreting pertinent property data into value figures. Questionnaire survey of members of ‘faculty of education international’ of the Nigerian Institution of Estate Surveyors and Valuers was carried out and the results analysed using weighted mean and paired sample test. their leading challenges during valuation exercises and their perception on relevance of new curriculum courses for upcoming estate surveyors and valuers. The study identified the common areas of engagement among sampled respondents. One aspect of interest in this study is the extent to which available curriculum for professional education satisfies the scope of valuation of property assets using the Nigerian estate surveyor and valuer (ESV) as case study. There is growing concern about reconciling the academia with practice in property valuation. ![]()
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