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must follow the Option Appraisal Guide?","Question",{"text":109,"@type":110},"All NHSScotland Bodies taking forward infrastructure investment proposals must apply this guidance.","Answer",{"name":112,"@type":107,"acceptedAnswer":113},"What is the purpose of the guide?",{"text":114,"@type":110},"To ensure public money is spent to achieve best possible value by allocating resources efficiently and maximising the impact and benefits of investment decisions through sound analysis.",{"name":116,"@type":107,"acceptedAnswer":117},"What are the main appraisal steps described?",{"text":118,"@type":110},"Identify and quantify monetary costs and benefits (including do nothing/minimum), outline non-monetary costs and benefits, calculate net present value, perform sensitivity and risk assessment, present NPVs across options, and select a preferred option.","https://schema.org",{"og:url":78,"og:type":121,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":123,"canonical":78},"index,follow",{"doc_id":125,"site_id":56},171027,1791381748,{"code":4,"msg":5,"data":128},{"doc_id":125,"user_id":129,"nickname":88,"user_avatar":130,"doc_module":9,"category_id":8,"category_name":11,"doc_title":59,"doc_description":61,"doc_content":131,"file_id":132,"file_url":133,"file_type":134,"file_size":135,"view_count":101,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":136,"language":137,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":138,"faqs":139,"seo_title":140,"seo_description":61,"update_tm":141,"read_time":35},1099513958607,"https://ap-avatar.wpscdn.com/avatar/100002390cf8733938c?x-image-process=image/resize,m_fixed,w_180,h_180&k=1778829742770036399","SCOTTISH CAPITAL\nINVESTMENT MANUAL\nOption Appraisal Guide\nA practical guide  to the Appraisal, Evaluation, Approval and Management of Policies, Programmes and Projects\n\u000fContents\n\u0013 TOC \\o \"1-3\" \\h \\z \\u \u0014\u0013 HYPERLINK \\l \"_Toc459884252\" \u00141.\tIntroduction\t\u0013 PAGEREF _Toc459884252 \\h \u00141\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884253\" \u00142.\tGeneral Appraisal Guidance\t\u0013 PAGEREF _Toc459884253 \\h \u00142\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884254\" \u00143.\tIdentify and Quantify the Monetary Costs and Benefits of Options\t\u0013 PAGEREF _Toc459884254 \\h \u00143\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884255\" \u00143.1.\tThe Relevant Costs and Benefits\t\u0013 PAGEREF _Toc459884255 \\h \u00143\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884256\" \u00143.2.\tPrinciples of Cost Measurement\t\u0013 PAGEREF _Toc459884256 \\h \u00143\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884257\" \u00143.3.\tTotal Versus Incremental Costing\t\u0013 PAGEREF _Toc459884257 \\h \u00146\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884258\" \u00143.4.\tTreatment of Taxes and Subsidies\t\u0013 PAGEREF _Toc459884258 \\h \u00147\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884259\" \u00143.5.\tTreatment of Transfer Payments\t\u0013 PAGEREF _Toc459884259 \\h \u00148\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884260\" \u00143.6.\tEstimating the Value of Benefits\t\u0013 PAGEREF _Toc459884260 \\h \u00148\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884261\" \u00143.7.\tCost Savings, Efficiency Improvements and Redundancies\t\u0013 PAGEREF _Toc459884261 \\h \u001410\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884262\" \u00143.8.\tAdjusting for Displacement\t\u0013 PAGEREF _Toc459884262 \\h \u001411\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884263\" \u00143.9.\tMultiplier Effects\t\u0013 PAGEREF _Toc459884263 \\h \u001412\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884264\" \u00143.10.\tAppraisal of Land, Buildings and other Assets\t\u0013 PAGEREF _Toc459884264 \\h \u001412\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884265\" \u00143.11.\tThe Acquisition and Disposal of Assets\t\u0013 PAGEREF _Toc459884265 \\h \u001416\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884266\" \u00144.\tWeigh Up Non-Monetary Costs and Benefits\t\u0013 PAGEREF _Toc459884266 \\h \u001420\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884267\" \u00144.1.\tMulti- Criteria Analysis\t\u0013 PAGEREF _Toc459884267 \\h \u001420\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884268\" \u00144.2.\tDistributional Effects\t\u0013 PAGEREF _Toc459884268 \\h \u001423\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884269\" \u00145.\tCalculate Net Present Values and Assess Uncertainties\t\u0013 PAGEREF _Toc459884269 \\h \u001424\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884270\" \u00145.1.\tDiscount Rates and Net Present Values\t\u0013 PAGEREF _Toc459884270 \\h \u001424\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884271\" \u00145.2.\tTreatment of Inflation\t\u0013 PAGEREF _Toc459884271 \\h \u001425\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884272\" \u00145.3.\tAdjustment for Optimism Bias\t\u0013 PAGEREF _Toc459884272 \\h \u001426\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884273\" \u00145.4.\tNet Present Value\t\u0013 PAGEREF _Toc459884273 \\h \u001426\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884274\" \u00145.5.\tRequired Rates of Return and Pricing Rules\t\u0013 PAGEREF _Toc459884274 \\h \u001428\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884275\" \u00145.6.\tAssessing Uncertainty\t\u0013 PAGEREF _Toc459884275 \\h \u001428\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884276\" \u00146.\tOption Appraisal Results\t\u0013 PAGEREF _Toc459884276 \\h \u001432\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884277\" \u0014APPENDIX 1: Comparison of Economic and Commercial Appraisal\t\u0013 PAGEREF _Toc459884277 \\h \u001434\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884278\" \u0014APPENDIX 2: The Weighted Scoring Method\t\u0013 PAGEREF _Toc459884278 \\h \u001439\u0015\u0015\n\u0013 HYPERLINK \\l \"_Toc459884279\" \u0014APPENDIX 3: Basics of Discounting\t\u0013 PAGEREF _Toc459884279 \\h \u001444\u0015\u0015\n\u0015\nIntroduction\nThe need to get the best possible value from spending public money will always remain a constant for those entrusted with spending decisions.  It is essential that resources associated with infrastructure investment across NHSScotland are allocated efficiently and effectively and the impact/ benefit of such investment decisions are maximised.\nIn order to arrive at such decisions, sound analysis is essential. This Option Appraisal Guide builds on the HM Treasury Green Book guidance and specific Scottish Government guidance issued on assessing Value for Money.\nAs part of the Scottish Capital Investment Manual, this guidance is mandatory for all NHSScotland Bodies taking forward infrastructure investment proposals. The Option Appraisal Guide is the primary guide for information regarding appraisal in NHSScotland.  It should be read in conjunction with both the Green Book, which remains a","cbCaisrFC57jlZiK","https://ap.wps.com/l/cbCaisrFC57jlZiK","docx",83173,49,"English","# Introduction\n# General Appraisal Guidance\n## Strategic context and initial agreement\n## Key appraisal steps","[{\"question\":\"Who must follow the Option Appraisal Guide?\",\"answer\":\"All NHSScotland Bodies taking forward infrastructure investment proposals must apply this guidance.\"},{\"question\":\"What is the purpose of the guide?\",\"answer\":\"To ensure public money is spent to achieve best possible value by allocating resources efficiently and maximising the impact and benefits of investment decisions through sound analysis.\"},{\"question\":\"What are the main appraisal steps described?\",\"answer\":\"Identify and quantify monetary costs and benefits (including do nothing/minimum), outline non-monetary costs and benefits, calculate net present value, perform sensitivity and risk assessment, present NPVs across options, and select a preferred option.\"}]","Option Appraisal Guide - Scottish Capital Investment Manual - Introduction | DOCX",1788278818]