Sandoval Sánchez Sarai Astrid

Proyecto de Evaluación económica
ECONOMIC EVALUATION1

The financial study is the final part of the sequence analysis of the feasibility of a
project. This part of the analysis will determine the economic profitability of the
project; what is sought is to determine the value of money because it loses its real
value over time, at a rate approximately equal to the current level of inflation.
Economic evaluation studies take into consideration the value of the DNER over
time and are VPN and TIR .
TMAR : When the capital necessary to carry out a project is fully made by a natural
person , that person always puts a minimum rate of return on investment proposal,
called minimum acceptable rate of return ( MARR ) . The reference rate is
determined it is the inflation rate. However, when an investor puts his money, is not
attractive to maintain the purchasing power of your investment, but rather that it
has a real growth ; ie performance that interests you grow your money beyond that
offset the effects of inflation
VPN: This method is applied to the present project future cash flows at a discount
rate equal to the TMAR, add up all the profits and subtract the initial investment at
time zero. If this value is greater than zero investment is acceptable because the
value is positive and means to win the value of MARR more the result value ;
however, if the VPN is less than zero means that the profits of the project are not
even enough to win the TMAR and therefore investment is rejected
TIR: TIR calculation is performed by equating the sum of the discounted cash flow
investment. In the equation is used as incognita i, which is then called TIR project.
On the other hand, there are rates or financial reasons. In the planning stage of the
project is a basis to guide the direction of the company engaged to correct errors or
to support domestic successes in financial management. It is not advisable to use
financial ratios to evaluate the economic profitability of the company, they do not
take into account the value of money through the play time and this deficiency may
cause misinterpretation and inefficient decision-making.
There is one last step to consider the so-called cost / benefit. This relationship is
used to evaluate investments that apply to private companies. The annual cost
method is used exclusively to analyse the replacement of equipment, both in the
public sector and the private.

1

Baca Urbina, Gabriel. Evaluación de proyectos. Estudio económico

administration costs.Sandoval Sánchez Sarai Astrid Proyecto de Evaluación económica FINANCIAL REVIEW Financial statements are the end product of the synthetic process and record the exact shape. Budget revenue operation: To structure the estimate of the revenue budget is recommended to make the following sequence: Analyze marketing strategy established in the market study. The purpose of financial analysis is intended to provide a strategy to cleave the project resources required for its implementation and have sufficient liquidity and solvency . Determine the future path is thought to follow or achieve some aspect of the project. There are three types of divisions or budgets: 1. Budget of expenses of operation: The expenditure budgets are mainly composed of the following areas: production costs. capable of compared to that of other investment alternatives . Based on the findings of the market study quantities and probable sales prices are synthesized in a chronological series projected. synthetic and chronological of all operations of an economic entity. the study concludes with a technical function and a program or production. selling expenses and financial expenses . make sales forecast. such as sales. operating costs. that integrate the function of project costs. which are formal written plans in monetary terms. financial costs among others. As a first step should be considered estimates. Budget investment: this consists of the set of distributions that are needed to form the physical and intangible infrastructure that allows the project to transform a set of inputs into a finished product 2. 3. price and value of sales is formed. based on the knowledge of the stability and market behavior and having analyzed the information referred to the revenue budget should contain the volume. to develop productive and uninterrupted business operations. The financial study provides the information necessary to estimate the cost of the resources used. production costs. administrative expenses. Similarly. The product obtained in quantities and prices can integrate the revenue budget financial study. which is the basis for establishing the budget for expenditures in the financial study.