1.2 Forest Monitoring & Evaluation
About the Lecturer
Keith Lamb
Keith is Convenor of the Forestry Australia’s Forest Valuation Subcommittee, and a long-term member. Between 2001 and 2017 Keith worked with Sydney-based New Forests Asset Management and Hancock Natural Resources Group Australia where he oversaw a diverse portfolio of forest and processing
assets across Australia and the Pacific. Prior to that he spent a decade with state and federal government agencies in operations, research and policy.
His most recent role as Managing Director with an ASX-listed company has seen him challenged with the intractable problems of wildfire management in natural vegetation, and greenfield infrastructure development in Australia.
He holds a Masters Degree in Forestry from ANU and an MBA from Sydney Business School (University of Wollongong). He is a graduate member of the Australian Institute of Company Directors.
Please note: Andrew Morton and Rudolf van Rensburg contributed to this lecture.
1.2 Forest valuation methodology
In this lecture:
- What is a valuation and how it can serve a particular purpose
- Roles and responsibilities of stakeholders in valuations
- The importance of valuer independence
- International valuation practice and standards
- Fair value and market value
- Valuation methodologies
- The concept of highest and best use
- The treatment of land in forest valuations.