ASSESSMENT vs. APPRAISAL

Good morning. I hope everyone had a relaxing weekend.

Quite a while ago, we received the following question from Rocio.

Can you explain the difference between assessment and appraisal?
Thanks, Rocio

Lets consider the definitions according to the Oxford Advanced Learner's Dictionary.

Meaning Assessment: an opinion or a judgement about something that has been thought about very carefully; the act of forming an opinion about something.

Meaning Appraisal: a judgement of the value, performance or nature of something.

Example 1:
Jack: What is your assessment of the situation?
Oliver: I think we should wait a few more days before selling your stocks (acciones). I think the stock market (bolsa) is going to take a turn upwards.

Example 2:
I'm a little nervous because today I have my appraisal at work. (In this case appraisal is a meeting to discuss en employee's work with the manager.)

As you can see, these words are synonyms. However, in my experience I have seen appraisal used more than assessment when talking about the monetary value of things.

Example 3:
Today some estate agents are going to do an appraisal of my house. When they are finished, I will know exactly what my house is worth.

I hope that helps Rocio. I'd be interested in getting your assessment of this Daily Vitamin, and any further questions that you may have.

Have a nice day.