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Evaluation Services - Industrial and Commercial Evaluations, Risk Assessment
The Service:
TP Riga (TP) offers business owners and/or financing institutions that have interests in manufacturing and commercial enterprises an independent service to evaluate the current status of an enterprise.
TP Facility or Property Risk Assessment
Risk management is vital to minimizing the interruption of the operation and production at a facility. A Risk Engineer evaluates and quantifies natural or manmade hazards, and helps mitigate potential damage or loss to the facility.
The Risk Engineer’s first step is a Property Risk Assessment. The engineer performs a survey that includes detailed review of the facility’s location, construction, occupancy, equipment, protection and environmental exposure. Codes and standards are noted. From this survey, hazards are identified that have a potential for causing property loss or damage. The monetary value of the facility building and equipment is determined at the time of the survey. An analysis evaluates this information to determine the probable maximum loss (PML) or maximum foreseeable loss (MFL). This result can help the client quantify their risk and make informed decisions on insurance requirements.
Further studies can be performed by the Risk Engineer to provide loss control or practical solutions to reduce the impact of hazards and unforeseen events.
TP Industrial and Commercial Evaluation
What does “Evaluation” involve
An evaluation can involve:
- Determining the status of an entity from an operational effectively perspective.
- Determining the cash value of an entity,
What do our Clients need that the TP Riga can help them with
- Determine the status of existing operations
- for the owner’s / manager’s own information and control of his operation
- for implementing cost reduction programs,
- for improving profitability and quality,
- for planning and development purposes,
- for expanding operations,
- for closing down unprofitable operations,
- to provide justification for projects to receive funding from banks and financial institutions
- Evaluate assets for the purpose of
- budgeting and financing,
- company restructuring,
- selling or purchasing a company,
- settling disputes.
Stages of dealing with economic issues within a manufacturing or commercial units
- Stage 1 – evaluation of the current situation
- Stage 2 – planning to implement changes
- Stage 3 – execution, implementing the plan
- Stage 4 – continuous evaluation, ensuring that the plan is followed
What are the results of an Evaluation
The results of Stage 1 (Evaluation) is an Evaluation Report that will meet the needs of the Client identified in the Terms of Reference (Scope of Work) that the Client agreed to before assigning the Valuation Project to TP. The Terms of Reference define what the Client requires. TP Riga experts may assist the Client to identify his requirements.
a. If the Valuation Report is required for a particular, finite purpose, the project will be considered complete when the report is submitted.
b. If the Valuation Report is required for further action, TP specialists can help with Stage 2 – planning. This could involve the preparation of a Business and Development Plan based on the conclusions and recommendations from the Stage 1 evaluation.
If the Client wishes assistance with implementing the Business and Development Plan, TP specialists may help the Client’s personnel or do the work themselves.
Methodology
TP’s policy is to complete the valuation of industrial or commercial operations using a report style which will let the Client continue to develop his operations in an organized manner.
The stage 1 – evaluation assignment could include the following activities:
- Having qualified personnel visit the Client’s facility for a period of between two days and one week to meet personnel from the Client’s side and collect information.
- Assemble information provided by the Client in the TP standard Business and Development Plan format.
- Based on the information collected in the Business and Development Plan, TP will submit a report with suggestions for future steps to be taken.
- In completing this assignment, TP could involve selected Client’s personnel for training in how to assemble such information and use it in the future so that the Business and Development Plan is periodically updated and continues to be used as a tool for the further development of the company.
Documentation
The Valuation Report and associated documentation is prepared to meet the specific and particular requirements of the Client using TP’s standard formats shown in the following attachments.
Business and Development Plan format
Technical Information for construction and equipment projects