In what scenario does the SCOPE OF WORK RULE apply?

The SCOPE OF WORK RULE is a fundamental concept in the appraisal process that determines the extent of work a qualified appraiser must undertake to complete an assignment effectively. This rule applies specifically to appraisal and appraisal review assignments, setting the parameters for what is required to meet the client’s needs while adhering to industry standards.

In appraisal assignments, the SCOPE OF WORK RULE helps define the specific tasks to be performed, the intended use of the appraisal, the level of detail required, and the methodologies that might be utilized. It ensures that the appraisal process is customized to satisfy the requirements of the assignment, which can vary significantly based on the type of property and the objectives of the appraisal.

The options that reference market analysis assignments or being required only by the client do not accurately capture the broader applicability of the SCOPE OF WORK RULE. The rule is not limited to certain types of analyses or contingent on client demand alone—it is a critical part of every appraisal assignment that defines how the work should be approached, ensuring that it is suited to the complexities and demands of the specific appraisal task at hand.