Practical resource
HCP FMV Assessment Guide and Worksheet
An FMV assessment should make the basis for a compensation decision understandable: the service, relevant evidence, methodology, proposed fee and accountable review. This worksheet helps organise that record. It does not determine a market rate or approve an engagement.
Define the engagement
Record the activity, market, proposed contributor, business owner and intended deliverables. Explain why the work is needed and what relevant expertise is required. Use a reference identifier where detailed personal information is unnecessary.
Record the assessment basis
Identify the company-approved methodology and its version. Record the evidence source, publication date, geography, currency, stakeholder category and any limitations. Explain how the inputs relate to the proposed service. Do not treat a figure found online as an approved rate.
Explain the fee proposal
Separate the scope of work, expected time and proposed compensation. Document preparation, delivery and other time categories individually where your methodology permits them. Record expenses separately and explain any exception for an accountable reviewer.
Connect review to execution
Record the reviewer, decision, conditions and approval date under your company process. Connect the assessment to the agreement and the subsequent evidence of services delivered. Review changes in scope before relying on an earlier approval.
Use the worksheet
Download the Excel worksheet, complete the pale-green response cells and save your own copy. It includes a review-decision dropdown and fields for the evidence, fee rationale and approval record. Your entries are not submitted to Eunomia. The workbook contains no benchmark rates, automated score or approval calculation.
Download the Excel worksheet (.xlsx)
UK source and scope
For arrangements within its scope, ABPI Code Clause 24.2 addresses documented need, selection, advance agreement, records and compensation reflecting fair market value. The workflow above is a practical documentation aid, not a prescribed regulatory template. Confirm the rules and company methodology applicable to your activity.
PMCPA: 2024 ABPI Code, Clause 24 · Source checked 30 September 2026.
Evidence from an FMV engagement
In Eunomia’s published case study, payments within a defensible FMV range increased from 66% to 98%, while time to contract fell from 14 days to 6 days. These are outcomes from one engagement, not a forecast for every project.
Need help assessing your FMV framework?
Explore FMV consulting services or read our FMV methodology case study.