Property cash flow studies : focusing on model consistency and data accuracy

The high degree of variability and inconsistency in cash flow study usage by property professionals demands improvement in knowledge and processes. Until recently limited research was being undertaken on the use of cash flow studies in property valuations but the growing acceptance of this approach for major investment valuations has resulted in renewed interest in this topic. Studies on valuation variations identify data accuracy, model consistency and bias as major concerns. In cash flow studies there are practical problems with the input data and the consistency of the models. This study will refer to the recent literature and identify the major factors in model inconsistency and data selection. A detailed case study will be used to examine the effects of changes in structure and inputs. The key variable inputs will be identified and proposals developed to improve the selection process for these key variables. The variables will be selected with the aid of sensitivity studies and alternative ways of quantifying the key variables explained. The paper recommends, with reservations, the use of probability profiles of the variables and the incorporation of this data in simulation exercises. The use of Monte Carlo simulation is demonstrated and the factors influencing the structure of the probability distributions of the key variables are outline. This study relates to ongoing research into functional performance of commercial property within an Australian Cooperative Research Centre.

An Efficient and Verifiable Solution to the Millionaire Problem

A new solution to the millionaire problem is designed on the base of two new techniques: zero test and batch equation. Zero test is a technique used to test whether one or more ciphertext contains a zero without revealing other information. Batch equation is a technique used to test equality of multiple integers. Combination of these two techniques produces the only known solution to the millionaire problem that is correct, private, publicly verifiable and efficient at the same time.

The Design, Implementation and Outcomes of a Mentoring Program

This paper reports on the design, implementation and outcomes of a mentoring program involving 18 employees in the IT Division of WorkCover Queensland. The paper provides some background information to the development of the program and the design and implementation phases including recruitment and matching of participants, orientation and training, and the mentoring process including transition and/or termination. The paper also outlines the quantitative and qualitative evaluation processes that occurred and the outcomes of that evaluation. Results indicated a wealth of positive individual, mentoring, and organisational outcomes. The organisation and semi-structured processes provided in the program are considered as major contributing factors to the successful outcomes of the program. These outcomes are likely to have long-term benefits for the individuals involved, the IT Division, and the broader organisation