Valuation

For building, project, and use applications, you can record the cost, or valuation, of a construction job. The valuation can then be used to calculate application fees.

There are three different valuations that can be recorded for an application.

  • The declared valuation is the cost of the construction as declared by the applicant.
  • The actual valuation is the cost of the construction as determined by the agency.
  • The calculated valuation is the cost of the construction as calculated by Infor Public Sector.

The three valuations are displayed on the Job Description tab of the application InfoViewer. The declared valuation and actual valuation are recorded manually, and can be updated when you change the job description. You can also record the declared valuation when you start an application.

The calculated valuation is based on the application's valuation details. Each valuation detail represents the cost of a particular part of a construction job, such as pouring a concrete slab or framing a room. Valuation details can be added to an application in two ways:

  • Depending on the application type, valuation details may be created based on job estimation details. Job estimation is used to estimate the cost of a proposed construction job before an application is submitted. The estimated cost is based on job estimation details, which are similar to valuation details. You can then create an application based on a job estimation. If the application type is set up to use job estimation, then the job estimation details become valuation details on the application.
  • You can use the Valuations tab of the application InfoViewer to add valuation details.

Valuation details are based on valuation setups, which define general rules for calculating construction costs. Each valuation setup specifies a type of construction, known as a use group, a construction material, and a multiplier that is used to calculate the cost of construction. A valuation setup also includes a valuation modifier, which is used to adjust the construction cost based on the market price of a specific location.

When you add a valuation detail, Infor Public Sector multiplies the size or quantity that you specify by the valuation setup's modifier and multiplier to determine the calculated valuation. The calculated valuation for an application is the sum of the calculated valuations for its valuation details.

Depending on the valuation setup, a valuation detail may also affect the total square footage of an application. If the Use Square Footage field in the valuation setup is set to True, then the measurement that you specify for a valuation detail is considered to be its square footage and will be added to the square footage of the application.