An appraisal is an official document given by an appraiser that estimates the replacement value and quality of an item. An appraiser makes a report after examination and detailed analysis of the property.
Types of Appraisals
Drive by Appraisals: This is an abbreviated appraisal that requires less data and inspection by the appraiser. The data is generally collected verbally or from records.
Professional Appraisals: Appraisals for personal property like estate tax, donation, sale of insurance, damage claims and equitable distribution.
Sustainability Appraisals: They are essential for national legislation that includes environmental, social and economic concerns.
Job Performance Appraisals: These appraisals are needed for performance rankings. They help in decision making regarding promotion, confirmation, transfer and salary fixing. These appraisals also give feedback regarding behavior of subordinates. This information helps in training, recognizing the skill of workers, their deficiencies and growth. These also play an important role in counseling subordinates. It also gives an insight into the behavior of employees.
The purposes of...
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