VALUATION

VALUATION is typically a financial term -- most commonly defined as determination of the current worth or present value of an asset or company.

But money is just a standardized form for trade. Imagine trying to apply bartering for most of our day-to-day trades. I want a package of paper towels so I will give you 6 eggs. I want to you to replace the roof on my house so I will provide you 33 meals. It would get very complicated. Roll it up to insurance, long-term employment, etc. and of course we need a standardized system.

VALUATION is not only useful for reaching a fair trade but also for choosing among many options. Assuming you do not have unlimited resources VALUATION provides a basis to use your resources in the most impactful way.

Is your most limited resource time or money? "Time is money." For the extreme in that thinking I rewatched In Time -- the 2011 movie where time is used as currency -- "Can you spare a few minutes?" could have life-saving consequences.

Time may not be that literally translated into currency, but how do you value your time? VALUATION of what you could be doing is one way to choose among many options.

Now just need to figure out COLLABORATIVE VALUATION...