??????????? Appraisal and Evaluation of Investment Project from Economical Aspect

1
???????????Appraisal and Evaluation of
Investment Project from Economical Aspect

• ???
• ???????????????

2
????

• ????????????
• ?????????????

3
????????????

• ??(Market and Marketing)
• ????(Investment environment)
• ????(Timing)
• ???????(Technology Engineering Designing )
• ????(Decompose)
• ??????(Environment Impact Assessment)
• ????(Economic Analysis)

• ????(Social Assessment or Analysis)
• ????(Risk Analysis)
• ??????(Institute Assessment)
• ???????(Legal Framework )
• ???????(Monitoring Indicator)
• ???(Evaluation)
• ?????(Multi-Criteria Decision Making)

4
??????

• ???????????????????(????) ???????
• ????????????????
• ?????????????(??)
• ?????????????????????
• ?????????????????????
• ???????(??)????????????
• ??????????????
• ??????????????

5
?????????
????
????
????
????
????
6
???????

• ?????????????(viability)?????(debt
  service)?????(profitability)??????(anti-risk)?????
  ?
• ?????????
• ????????

7
???????

1. ???????
2. ?????????
3. ????
4. ????
5. ??????
6. ???????????
7. ???????????
8. ??????
9. ??????????

8
???????

• ???????????????,???????????????
• ???????????,???????????????
• ??????????????,????????????
• ???????????????????

9
??????

• ????(???)????????
• ????(???)?????????
• ???????????
• ?????????
• ?????????????????????
• ????Is the project acceptable in finance
  depended on the goal of project?
• ?????????
• ???????????
• ????????
• ??????Discounted Cash Flow Statement
• ???????????????

10
???????

• ?????????????????????
• ??????????????????????????,???????????????????????
  ??,??????,???????
• ??????????????????????????????????(???????????)???
  ????????????????????????,????????,????????,???????
  ??????????????????????????????????

11
??????????

• ????
• ????
• ????
• ????
• ?????????????????
• ?????????

12
?????????????

• ?????????????????????(MARR)?????????ic,???????????
  ???(cash flow or net cash flow)??????????????ic??,
  ?????
• 
  
• ?? CI ?????
• CO ?????
• (CI-CO)t ?t???????
• FNPV0,???????????????

13
?????????????

• ???????FIRR???????????????????????????????????
• ????FIRRFOCCWACCIc?MARR
• ???????FIRR(BIT) ? FIRR(AIT)
• ????????????????????????????????,?????????????
• ?????????

14
?????????

• ??????????
• View of Investors or Operators or Decision Maker
• Warranty of Decision Making
• ??????????????????????

15
??????????

• ????
• ?????
• ??????
• ?????
• ????
• ?????
• ???????
• ??????

16
????????

• ??????
• ???????
• ????????????????????
• ??????????????
• ?????????
• ???????????

• ??????
• ??????????
• ??????????????
• ?????????????????
• ???????
• ?????????????

17
?????????

• ????(????)
• ?????????every one can obtain freely
• ??????????obtainable and affordable????????
• ??????????????????

• ?????
• ??,?????????????????
• ??,?????????????
• ??,??????????????????????

18
????????

• ???
• ????
• ?????
• ????(??????)

19
?????????????

• ?????????????????????????????
• ????????????????????(???)????????
• ????appraisal v monitoring v evaluation
• ???????
• ?????????????????????

20
??????????????

• ?????????
• ????????????(????????????????????,??????????????
  (?)??????,?????????????????(?)???????????????????
  ??????????????????????????????????????????????)
  
• ???????????????(????????????????????????????????
  ?????????????????????????????????????????????????
  ????????,????????????????????????????????????????
  ????????????????????????????,???????)
• ?????????????(??????????????,??????????????????,?
  ????????????????????????????????????????????????
  ??????????????????????????????????????????)
• ???????????(???????)
• ??????????????

21
?????????????

• ????????????
• ?????????
• ???????????????
• ?????????

22
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• ?????????
• ????????
• ????????
• ??????????
• ????????

• ???????????????
• ????
• ??(??)??
• ????
• ??(??)??
• ???????

23
?????????????

• ???????????
• ????(???)
• ??????
• ??????
• ??????,????,????,???????,????,????,????,????,????
  ??,????
• ??????

• ??????(????????????)
• ??????
• ?????????????
• ????
• ????(??,????)
• ??(?????,?????????)
• ???????
• ???????
• ????

24
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????? ???? ???? ??????
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25

• ??!
• ????
• ??????????????
• ??010-58934016
• ??limz_at_mail.cin.gov.cn

26
???????????

• ?????????????(?????)
• ??????????(??????????)
• ?????????????(??????????)2008.1
• ?????????(????)2002
• ????????(??????)2002
• ????????(??????)2006.1
• ?????????(????????)2007.12
• ???????(???,???)
• ?????? ????????????
• ?? 68337573 ?? 68308861