Technical Report Writing Laws

• A valuation report is also a technical report
• Report writing is an essential skill
• The laws of report writing are as follows:

Ten Laws of a Good Report

• The reader is the most important person
• Keep the report as short as possible
• Organize for the convenience of the user
• All references should be correct in all details
• The writing should be accurate, concise, and unobtrusive
• The right diagram with the right labels should be in the right place for the reader
• Summaries give the whole picture in miniature
• Reports should be checked for technical errors
• Law 10: The reader is the most important person

Introduction

• Efficient communication details the information covered and the intended audience
• Features of a good report include being precise and producing informative content
• A well-organized layout and format is also important
• This law is repeated, because it is the only law: The reader is the most important person

Format of the Report

• The report should have a beginning and an end
• Always include important information relevant to the objectives of the document in the Main Body

Main Body

• Include borderline information that might be useful to some readers, or might amplify or substantiate other more important material
• Information which is interesting; but, not relevant to the objectives of the report, should feature in the Appendices

Appendices

• Information not needed by the majority of the users of the report is placed in the Appendices

Headings

• Headings use decimal notation
• Outlines include terms of reference and objectives/scope
• The reports must include:
• Locality/site location
• Valuation method/findings (the evidence)
• Conclusions
• References & appendices
• General description and history of proposals
• A general map of the project and land acquisition
• Questionnaires

References

• Use author, year and numeral referencing
• All references should be correct in all details
• All cited references must be listed
• All listed references must be cited

Writing the Report

• If preparation has been thorough, the writing will be less stressful
• The writing should be accurate, concise, and unobtrusive
• Accuracy includes spelling, punctuation, choice of words, sentences and paragraphs

Brevity

• Keep reports brief
• Do not explain the same point more than once
• Use short and current phrases to reduce length

Illustrating the Report/Graphical Aids

• Use the right diagrams with the correct labels in the right place
• When including illustrations take care with:.
• Positioning on the page
• Placement on the next available page after first mention
• Preparation must be numbered and margin rules must not be violated
• Vertical lines in tables etc
• All materials must be referred to and discussed in the body
• Titles must be brief and concise
• The detail needed by the reader must be included, not necessarily all that is available to the writer

Finishing the Report

• Include a summary, abstract and/or executive summary
• Summaries give the whole picture in miniature
• Executive summaries are longer
• Executive summaries shows the essential elements of the whole report
• It should give sufficient background to make sense to the reader
• Comments on the major findings and emphasizes conclusions which are of general importance
• Abstracts are intended to bring together the report and prospective readers
• A finished report should be technically accurate and have no typing errors or inconsistencies

Appearance

• Appearance is key to the appearance of the final valuation report
• Check for:
• Overcrowded pages
• Small margins
• Headings which merge with the text
• Information disappearing into the binding
• Typeface that is too small

Title Pages

• Title pages must include
• Title of the report
• Name of the author(s)
• Reference number
• Date
• Classification (‘confidential', etc.)
• Company's name and logo if desired
• Statement of copyright if appropriate
• The report should look as good as it is possible

Valuation

• Each valuation report is the final product of many hours of work
• The following activities should be conducted:
• Site (facility) visit;
• Management interview;
• Careful analysis of the economy;
• Careful analysis of the industry; and
• Careful analysis of the company
• The only tangible product delivered to the client is the written report
• If it is not well written, the credibility of all your work may be called into question
• In addition to complying with the laws of technical report writing, valuation report writing must be effective and persuasive.
• This makes it unique to other types of writing

Best Practice

• Convince the reader of the validity of your opinion by explaining:
• Each and every step of the analysis;
• The reasons for taking each step;
• The data employed in each step; and
• Where the step leads next
• Link the analysis from the raw data through to the value conclusion
• The logical sequence for the report is as follows:
• Describe the purpose of the report
• Valuation of the interest being valued
• A broad overview of the subject company
• What the reader will need to be educated on
• Identify the client
• A brief description of the subject company
• What is being valued (e.g equipment, building assets)
• What is the purpose of the valuation and who are the intended user of the report (e.g insurance purpose, to determine present market value, property tax appraisal)

Sample Report

• Sample report of valuation of a machinery and plant should include

1. Purpose for which valuation is made
2. Date as on which valuation is made
3. Name of the owner(s) of the machinery/plant under valuation
4. If the asset is under joint ownership/co-ownership, share of each owner
5. Description of the machinery/plant and the purpose for which it is utilized
6. Valuation of the machinery/plant

• The make, name of the manufacturer, original price, price to