- Project plans
- Project activities
- Legislation and standards
- Industry context
- Specialist wikis
Last edited 07 Mar 2021
Replacement cost valuation
RICS Insight Paper ‘Value of natural capital - the need for chartered surveyors’ published by the Royal Institution of Chartered Surveyors in 2017 suggests that replacement cost valuation is a revealed preference method that draws on the revealed preferences of stakeholders.
Replacement cost valuation assesses: ‘the cost of replacing a natural benefit that has or may be lost with a man-made replacement. For example, the cost of water treatment to deal with peat degradation following drainage might represent the minimum ‘value’ of the original environment that has been lost or may be lost. This method illustrates the dangers of a common language as replacement cost, and in particular depreciated replacement cost, would also be a familiar method to property valuers but in a different guise – the replacement of like with broadly like rather than with a substitute.’
Other revealed preference methods include:
Approaches other than the revealed preference method include:
 Related articles on Designing Buildings Wiki
Featured articles and news
Significant changes to BS 7671:2018+A2:2022 announced.
Students available for administrative roles.
Delisting a World Heritage Site.
Design needs to be more diverse to be widely accessible.
It’s not always a case of the centre leading.
PHribbon toolbar developed for US market.
CIOB consultation seeks feedback on APPG 2020 report.
How to respond to changes made in the October 2021 update.
Resource provides professional installation assistance.