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The purpose of an objective analysis report is to assess the current state of a business or situation in order to make an educated and well informed decision that benefits the business.
Objective Analysis: Process
1) Initial meeting: define the subject & the objective of the analysis.
2) Fact finding and data gathering: gathering and organization of data.
3) Analysis Draft: the first draft of the final report, a semi-cohesive product will be produced
4) Revision: reviewing, reconsidering, analyzing, refining, source checking, and reorganizing of the product. It is important that our analysis and data paint an accurate picture.
5) Editing: checking for typos/spelling, grammar, punctuation, awkward phrasing, sentence structure, paragraph structure, syntax, diction, clarity, etc.
6) Final Copy: double-check formatting of the document and publishing the document in the requested format.
7) Follow Up: Answering of any questions or concerns.
Summary of a Sample Objective Analysis Case:
Determine the integrity of rear pool deck, the cost of repair, and if repair is necessary relative to the potential sale of the property if the desired sale prices is 1.4 million based on the current market.
The owners of this property hired us because they live several thousand miles away and had work obligations that prevented them from being there. However, they needed objective data to determine what they should do. At the time they believed it was unnecessary to overhaul the pool deck relative to their goal(s). Were they correct?
We were tasked to figure out the above question and based on our analysis, we found that due to the property's condition it was not worth 1.4 million and the deck was one of the main issues.
• Our research suggested that the property's market value ranged between $650,000 to $750,000 based on comparable sales within a 1 year period. We also accounted for potential outliers/anomalies and properties currently available for sale.
• We were subsequently tasked to answer the following question: Of the three options, replacing, painting, or staining the wood deck, which would increase/maximize the value of the property?
Our clients made a decision based on our data and analysis: Trex Decking in Spiced Rum
• Painting and staining was not cost effective relative to the owner's objective. Replacement of the same material would have increased the value of the property, but not enough and was not fitting for the caliber of this property based on what other properties in the immediate area offered. We obtained several quotes from different contractors and listed the pros and cons in terms of value relative to the owner's objective.