 Prodev Development
Appraisal Program
Overview
Interproperty Systems specialises solely in Development Appraisal Software for the Property Industry. The company was formed shortly after the introduction of the original IBM PC in the early 80's. The PC was destined to change the way that business worked but at that time there were few ways of applying it to the needs of the Property Industry. We set out to address that shortcoming.
Our principal product is the Prodev Development Appraisal Program which was first introduced in 1984. Over the past 23 years around 4000 copies of Prodev have been distributed to 700+ users. It is used by developers, surveyors, agents, owners, academics and many others as the standard by which to judge development viability. Our clients range from major development companies and real estate agents, through to other property sector organisations of all sizes and specialisation.
To quote one client: "Prodev looks so simple you wonder why you would need it. But once you use it, it's amazing how fast and powerful it is. We wouldn't look at a development without Prodev."
Use the left-hand links to find out more about Prodev.
Product History
The first Prodev Development Appraisal program was introduced in 1984 followed in 1986 by the Procash Project Cashflow program. In 1994 the PDX Extended Appraisal Environment was released and differed from its predecessors in that it integrated the role of Appraisal and Cashflow within one program. In 1997 PDX was replaced by its Windows counterpart; Prodev for Windows; a full and completely re-written Microsoft Windows program based upon an enhancement of the familiar and proven PDX format. Prodev Version 4 was released in March 2001 followed by the substantially upgraded (and current) 4020 series in 2006.
Why use Appraisal software ?
The standard development appraisal starts off as a relatively simple exercise at first but invariably becomes more complex because the individual elements within a scheme (eg Land Cost, Rent, Building Cost) are inter-related. This means that any change in value requires a complete re-calculation of the entire appraisal to ensure that any 'knock-on' effect is taken into account.
Most appraisal work is abortive as most schemes do not measure up financially. In each case time is wasted, but the viable schemes cannot be found unless this task is carried out.
To set up a spreadsheet model for a development requires experience in writing formulae and then the model needs to be tailored to each development scheme. The problem is compounded where differing computer skill levels exist within an organisation. Whilst spreadsheets are entirely suitable for development appraisal work, experience has shown that only a small percentage of users either have the time or inclination to use spreadsheets effectively for this task because of the time consuming complexities involved.
A dedicated appraisal system such as Prodev differs from a spreadsheet in that it offers a standardised format that will work across a range of different development projects As it has been primarily designed for ease of use, it is suited to all levels of user and requires minimal training.
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