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.