Market appraisal and viability of the project

With applying the market appraisal to proposed development, we need consider the SWOT and PESTLE analysis. It helps us to determine the viability of the Hostel development to be built on site.

I’m fully understood the SWOT analysis as I had applied it in previous assignment. I also learnt the PEST analysis previously but the PESTLE analysis is new to me and it is quite interesting as it included 2 new terms which is Legal and Environmental.

SWOT Analysis

PESTLE analysis

Through this lesson, I learnt that both analysis are very important during pre-development stage. PESTLE analysis is use to identify the suitable propose development. After that, SWOT analysis takes place to identify the viability of this development. It analyse the internal strengths and weaknesses of the proposed development and external opportunities and threats faced by it.

This lesson enhances my knowledge in execution of market appraisal technique. It helps me to expose to the skill of assessing the environmental risk factor associated with a development in CIOB Professional Competencies Framework.