[O]

objectives

evaluation 46, 47

regeneration projects 55

setting 4, 13-15

see also outcomes

odours 67

Office of Government Commerce (OGC)

business case templates 7n

construction project management 43n

contract management 44

Gateway review process 8

procurement options 42

project management 43

property disposal 72

risk management 80, 82

open market value 70, 71

operating costs and benefits 86

opportunity cost

capital assets 21

definition 102, 103

land 72

valuation of options 19, 20, 21

valuation of time 20, 59

optimism bias 29-30, 85-7, 103

option appraisal 3, 5, 17-36

definition 103

issues 9

see also adjustments; best option; unvalued costs and benefits; valuation

option value 88, 103

outcomes

cost of variability 88-9, 101

definition 13

evaluation 46, 47

examples 14-15

regeneration projects 55

valuation of risks 30

see also objectives

outputs

additionality 53-4

definition 13

evaluation 46

examples 14-15

range of possible 6

outturns see evaluation

over-rented properties 71

own time 59