Jurisdiction(s):
United Kingdom

Key definition

Model definition

What does Model mean? A model is the financial model—usually a spreadsheet-based cash-flow and valuation tool—used to test and evidence the financial viability of a project, development or contract. It is not defined in legislation or case law; it is a descriptive term used across project finance (including PPP/PFI), real estate and planning. In planning practice, a model is often called a viability “toolkit” appraisal and is used to justify affordable housing and other planning obligations (for example, Section 106 agreements in England and Wales, Section 75 agreements in Scotland, Section 76 agreements in Northern Ireland, and planning agreements/Part V arrangements in Ireland). Typical legal uses...

Using competency models to develop in-house legal talent: practical guidance, a sample experienced legal adviser framework, and the link to SRA continuing competence

Published by a LexisNexis Practice Compliance expert

Practice notes

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This Practice Note offers direction to in-house counsel on applying competency frameworks to cultivate talent across their teams, and features an example competency profile for a seasoned legal adviser. Competencies describe the behaviours people must demonstrate, or learn, to perform well in their roles and responsibilities at work. Where an organisation has adopted them, HR will usually champion competencies and act as their principal promoters within the organisation. At times HR promotes organisation-wide competencies for all staff; this can clearly pose issues for in-house lawyers, in particular, if they struggle to see their relevance to the legal function and to their role. Competency frameworks are valuable for pinpointing which team members already show potential to advance, and which have development or improvement needs that warrant attention and further support. They should not be used to criticise weaknesses, but to supply a structure that narrows the distance between current behaviour and the standard required by the competency in question. They also serve as a clear roadmap for those seeking progression, by setting out the capabilities, skills, and expectations for each role, clearly reducing ambiguity about what each entails and requires. You will need to work with, or at the very least...

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Web page updated on 28/05/2026

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