![BOOM! Appraisal dashboard](/uploads/dashboard.png "BOOM! Appraisal dashboard")

The Appraisal Dashboard works the same way as the Pipeline Dashboard. It includes appraisals owned by the user and those their network have shared with them.

Dashboard

![BOOM! Appraisal create a new appraisal](/uploads/new-appraisal-details.png "BOOM! Appraisal create a new appraisal")

Choose the project’s location by country - this determines the Use Classes because they’re all different - before giving the Appraisal a title.

![BOOM! Appraisal new appraisal](/uploads/new-appraisal-template.png "BOOM! Appraisal new appraisal")

At this point the user can choose to clone an existing Appraisal which, if elected, takes the user through an existing Appraisal selection process, otherwise they move onto choosing the Use Classes that together form the project scheme Accommodation Schedule and associated Gross Development Value (GDV). **Remember** Use Classes can always be updated.

Once "Start Appraisal" is selected, the cost planning begins!

Create a new Appraisal

![BOOM! Appraisal navigation](/uploads/navigation.png "BOOM! Appraisal navigation")

At the top and bottom of the page, Appraisal is broken down into various tabulated categories - Gross Development Value; Planning Costs; Development Contributions; Building Works; Disposal Costs; Finance & Strike Price and Summary.

Navigation

![BOOM! Appraisal more options](/uploads/more-options.png "BOOM! Appraisal more options")

By clicking the 3 vertical dots a menu - as per the image - presents itself, allowing a user to download Appraisal to PDF, update title, share, update permissions or see version history - from which the user can save previous Appraisals.

The *"Download PDF"* feature creates a PDF of the Summary page and includes detail on all entries made under each of the categories: Gross Development Value; Planning Costs; Development Contributions; Building Works; Disposal Costs and Finance & Strike Price.

![BOOM! Appraisal share](/uploads/share.png "BOOM! Appraisal share")

When sharing Appraisal with existing BOOM! members, a user can set the recipient's level of involvement via *"read and write permissions"* that can be updated at any time. A user also can include a message and other relevant documents as attachments.

![BOOM! Appraisal version history](/uploads/version-history.png "BOOM! Appraisal version history")

Appraisal includes a detailed tracking history, which provides user comfort that any previous version is available for review and saving as a new version; Appraisal tracks all entries by all those with *"write permissions"*.

More options

![BOOM! Appraisal gross development value](/uploads/gdv.png "BOOM! Appraisal gross development value")

Based on the selected Use Classes a user can prepare simple or detailed Accommodation Schedules with a few clicks of a mouse button - allowing for market rate and affordable elements.

Units of Measure (UoM) include for *"fixed price"* or *"m2 of NIA"*. If an entry is no longer valid, throw it in the bin via the *"bin"* icon on the RHS of the entry.

When hovering over the area of the 6 dots (refer LHS of the above image), and by clicking-and-holding the left mouse button, a user can efficiently rearrange entries by drag-and-drop - this is a common feature across all categories.

Oh, and see the little blue circle at the bottom RHS of the above image - this feature is included at the bottom of each category and allows for a quick overview of the summary page without having to hit save first; it’s handy!

![BOOM! Appraisal accomodation schedule](/uploads/accommodation-schedule.png "BOOM! Appraisal accomodation schedule")

At the bottom of each category is a summary section that provides a handy overview of all the good work undertaken by a user.

Gross Development Value

![BOOM! Appraisal planning cost](/uploads/planning-cost.png "BOOM! Appraisal planning cost")

This is an image of the Planning Cost summary detailing all the pre-populated sub-elements under which a user can drill down into costs in significant detail.

Each *"Description"* field within each of the sub-elements is pre-populated with typical entries. **Please note** that these typical entries are simply suggestions that a user can replace - this is typical across all Description fields of all categories with the sole exception of the Gross Development Value category.

**Please note** that once an entry is made in a field a user must *"tab out"* or press *"enter"* to save, clicking to a new field will not save the entry.

Planning Cost

![BOOM! Appraisal development contributions](/uploads/development-contributions.png "BOOM! Appraisal development contributions")

Enter CIL and Section 106 costs quickly and efficiently.

Development Contributions

![BOOM! Appraisal building works](/uploads/building-works.png "BOOM! Appraisal building works")

Building Works can be costed on a basic (m2) or detailed basis by simply toggling between the two modes; a *"detailed appraisal"* is based on the Royal Institute of Chartered Surveyors (RICS) [New Rules of Measurement (NRM) 1](https://www.rics.org/content/dam/ricsglobal/documents/standards/october_2021_nrm_1.pdf) - a best practice framework for cost plans and estimates.

**Please note** that if the user chooses to change mode from a basic to a detailed appraisal or vice versa, the Building Work section, which includes the cost plan for the building(s) itself will be lost; any entries made against External Work, Preliminaries, Main Contractor’s Overheads and Profit, Consultant and Contingency will not be affected as these apply to both modes.

We recommend that the user save a new version of the Appraisal before changing from *"m2 Appraisal"* to *"Detailed Appraisal"*. That said, a user can always access their version history before saving a new version.

![BOOM! Appraisal building works nrm1](/uploads/building-works-nrm1.png "BOOM! Appraisal building works nrm1")

When adopting the *"Detailed Appraisal"* mode the [RICS NRM 1 Group Elements](https://www.rics.org/content/dam/ricsglobal/documents/standards/october_2021_nrm_1.pdf) are pre-populated ready for entry; they are also pre-populated with the sub-element of each Group Element.

A user can download a guide on how and what to measure within each Group Element by clicking on *"RICS rules of measurement"*.

![BOOM! Appraisal substructure](/uploads/substructure.png "BOOM! Appraisal substructure")

Remember, all Description field entries can be amended by a user - in the above example we have added the additional descriptor *"- strip footings"* and*"- below ground drainage"*. **Again, please note** that once an entry is made in a field, a user must *"tab out"* or press *"enter"* to save, clicking to a new field will not save the entry.

![BOOM! Appraisal unit of measure](/uploads/unit-of-measure.png "BOOM! Appraisal unit of measure")

When undertaking a *"detailed appraisal"*, Units of Measurement (UoM) can be applied to each task.

![BOOM! Appraisal use classes](/uploads/use-classes.png "BOOM! Appraisal use classes")

Costs can be assigned to the various Use Classes that together comprise the scheme. In the future we will add additional tracking capacity around analysis of Use Class costs.

![BOOM! Appraisal external work](/uploads/external-work.png "BOOM! Appraisal external work")

Both *"m2 Appraisal"* and *"Detailed Appraisal"* include the Group Elements of External Work, Preliminaries, Main Contractor’s Overheads and Profit, Consultant and Contingency.

External Works allows a user to quickly deduct the building footprint from the External Works Area (EWA) to aid efficient costing.

The Group Elements that are Preliminaries and Consultant include for their relevant sub-elements whilst Main Contractor’s Overheads and Profit includes for just that: the capturing of the overheads and profit component of a principal contractor; Contingency allows for residual risk to be entered against multiple Group Elements.

Building Works

![BOOM! Appraisal disposal costs](/uploads/disposal-costs.png "BOOM! Appraisal disposal costs")

Disposal costs include for Estate agency fees, legal fees associated with sales and marketing fees; costs can be applied as either a fixed cost, per plot or as a % of GDV. They also can be applied to various Use Classes.

Disposal Costs are not included in the development finance calculations as it is assumed that such costs will be covered by project revenue.

Disposal Costs

![BOOM! Appraisal land acquisition costs](/uploads/land-acquisition-costs.png "BOOM! Appraisal land acquisition costs")

This category includes various sections. The first deals with land sourcing fees and any associated legal fees, as well as stamp duty bands - because the bands differ across the UK, the values must be entered.

![BOOM! Appraisal development finance](/uploads/development-finance.png "BOOM! Appraisal development finance")

This section deals with developer equity, the construction and sales tail associated with a project, senior debt interest rate, arrangement fees etc.

**Please note** that the cost of interest on the facility is applied to the full project duration/loan term which is calculated as the sum total of*"Development Duration"* and *"Sales Duration"*. A user can analyse the *"Return on Cost"* (RoC) and *"Return on GDV"* (RoGDV) from a pre-finance perspective by setting the project duration to 0 months - when set to 0 months any % costs associated with the loan facility default to £0.

![BOOM! Appraisal developer strike price](/uploads/developer-strike-price.png "BOOM! Appraisal developer strike price")

The *"Strike Price slider"* allows a user to efficiently determine the residual land value (strike price) for a particular site by simply sliding the bar left-to-right. When the price is *"around the mark"* a user can opt to use the keyboard arrow keys to update the strike price in £1,000 increments or, enter the strike price manually.

![BOOM! Appraisal summary](/uploads/finance-summary-bar.png "BOOM! Appraisal summary")

The *"summary bar"* tracks developer’s equity, development finance (dependent upon user-defined % of LTGDV), shortfall (mezzanine requirement), disposal costs and development profit as a % of Gross Development Value (GDV).

![BOOM! Appraisal shortfall](/uploads/shortfall.png "BOOM! Appraisal shortfall")

When presented with a *"shortfall"* development finance situation - which occurs when the selected loan percentage of GDV is exceeded, a mezzanine finance option will activate; a user can choose to activate or disregard.

Finance & Strike Price

![BOOM! Appraisal summary](/uploads/summary.png "BOOM! Appraisal summary")

The Summary provides a quick-and-easy snapshot of the project with the pie chart broken down into the primary sub-elements of cost.

![BOOM! Appraisal building cost overview](/uploads/building-cost-overview.png "BOOM! Appraisal building cost overview")

The Summary also provides a snapshot of project cost performance from a m2 and sqft perspective - the various line items - such as Building Works Estimate - accord with definitions included within [RICS NRM 1](https://www.rics.org/content/dam/ricsglobal/documents/standards/october_2021_nrm_1.pdf) - guidance and best practice rules for the preparation and reporting of cost estimates and cost plans.

Summary

Getting started

BOOM! Appraisal

Nearly 6 yrs ago our founders, Simon and Jony resolved to tackle the housing crisis by creating a tech-based property platform that empowers every landowner.

The platform connects and supports primary stakeholders through a value-based approach to development that delivers positive outcomes for all: the landowner, the developer, the community, the end user and the environment.

The BOOM! journey





![The deal pipeline](/uploads/deal-pipeline.png "The deal pipeline")

\*the landowner can elect not to establish a Development Profile.

The Deal Timeline

Building and development has always focussed on time, cost and quality. The old metrics. Metrics that fail to ask the important question ‘why are we building or developing?’. 

Failure to ask this critical question results in a failure to establish a mission that causes the old metrics to take over; triggering a ‘race to the bottom’ that leads to poor quality developments that get stuck in planning because of valid opposition. If built, they are often built cheaply and poorly, they decay quickly, they lack services and achieve moderate sales results. No one wins.

By shifting your focus to value, we help you set a mission and together we deliver.

By enabling better decision making, the Development Profile empowers the landowner to deliver positive change; change they can be proud of.

The BOOM! Development Profile



To begin, we work with the landowner to establish the developments Strategic Objectives, which may include things like: 

* delivering a case study for exceptional sustainable design;
* increasing affordable or family housing supply\
  (maybe through a community land trust);
* providing commercial space and/or community infrastructure;
* supporting the local economy & community initiatives;
* generating maximum profit;
* regenerating land.

Once the Strategic Objectives are resolved, we work to hone their interdependencies before establishing the project Mission and its associated Core Outcomes.

Initial Steps

After the Mission and Core Outcomes are established, the Value Outcomes are considered according to the four capitals: Natural, Social, Human and Produced Capital.

###### Natural Capital

Is defined as the stock of renewable and non-renewable resources (e.g. plants, air, water, soils, minerals) that combine to yield a flow of benefits to people. In the context of the built environment, Natural Capital values the natural environment, addresses solutions to climate impacts and provides benefits to society throughout the full lifecycle of the project. 

###### Social Capital

Is defined as the networks together with theshared norms, values and understanding that facilitate cooperation within and among groups.In the context of the built environment, Social Capital refersto influence and consultation, equality and diversity, networks and connections as well as the changes people experience in these areas as a result of built assets.

###### Human Capital

Is defined as the knowledge, skills, competencies and attributes embodied in individuals that contribute to improved performance and wellbeing. In the context of the built environment, Human Capital encompasses employment opportunities, skills development, individual health and wellbeing, as well\
as a project’s capacity to influence these factors.

###### Produced Capital

Is defined as the man-made goods as well as all financial assets that are used to produce goodsand services consumed by society. In the context ofthe built environment, Produced Capital encompasses a combination of capital cost, operational cost and revenue, thereby covering the whole of the direct monetary spend on the project over its whole life.

The Four Capitals Approach

![Value outcomes](/uploads/value-outcomes.png "Value outcomes")

The four capitals each include sub-elements that relate to the process of developing and building. 

In conjunction with you, we apply weightings to these sub-elements to priorities those we leverage through the delivery of the Mission and its Core Outcomes.

The weightings serve as a graphical map that developers follow to tailor effective solutions.

When agreeing a deal, we set goals and targets they must achieve when delivering the Mission.

Value Outcomes

*\*see image above*

In demonstrating how the Development Profile is designed to work, we will here, briefly consider the Value Outcomes that the profile’s roadmap could procure. 

Each of the four capitals’ sub-elements are relatively even, and highly-weighted in the example profile, meaning each capital is to materially impact the landowner’s mission. The profile’s roadmap will lead to procurement of a deal that secures quality placemaking, maximising the potential for community endorsement through inclusion of attractive project and community infrastructure that delivers strong sales revenues via such features, additional to quality design and exacting detailing/construction standards.

The high weighting across the sub-elements of Natural Capital, when read together with the high weighting of “experience” and “health” under Human Capital, as well “production” and “lifecycle cost” under Produced Capital, are all best represented by a prefabricated or modular design and construction approach. 

A modular approach relies on quality design detailing and coordination during the design phases, which best positions the project to achieve high weightings against the sub-elements of Natural Capital, as features of this approach are lowered resource use and material efficiency; leading to reduced waste and lower embodied and operating carbon footprints; all of which can be further maximised through a delivery philosophy that harnesses a circular economy approach to material and waste management - reducing, reusing and recycling. Modular supports significant elements of off-site construction, therefore maximising the “experience” and “health” sub-elements of all stakeholders, not least the immediate neighbours and community. 

Early and regular community engagement to best understand community infrastructure needs that can feature in the proposal will serve “involvement and influence” whilst procurement strategies involving local business will address “employment”.

Example

By the end of the process we will have established a Mission that neatly summarises what project success looks like; we will understand the Core Outcomes as well as the Value Outcomes.  

* Core Outcomes: those areas of value that are critical to the successful achievement of the Mission.
* Value Outcomes: those areas of value that are critical priorities of the client that can be leveraged through the delivery of the Mission and its Core Outcomes. 

![Summarised](/uploads/summarised.png "Summarised")

Since our inception BOOM! has grappled with how to design and implement a development profile that best supports a landowners ability to drive positive change in the built environment through partnering with industry and other primary stakeholders. 

Approximately 2 years ago we became aware of the wonderful work undertaken by the Construction Innovation Hub in the development of their value toolkit; we decided to adopt it as the foundation of our development profile. 

We would like to take the opportunity to acknowledge their wonderful work [here](https://constructioninnovationhub.org.uk/our-projects-and-impact/value-toolkit/).

I﻿f you would like to find out more on how we can help you achieve you development goals [contact us](https://www.boom.online/contact-us) or [register your Opportunity](https://app.boom.online/register-opportunity).

Guides and documentation.

BOOM! Appraisal
Getting started

Landowners
Registered Landowner Introduction

Guides and documentation.

BOOM! AppraisalGetting started

LandownersRegistered Landowner Introduction

BOOM! Appraisal
Getting started

Landowners
Registered Landowner Introduction