You are on page 1of 384

&RQWHQLGR ,QWURGXFFLäQ  

(QSRFDVSDODEUDV  
/ODYHVSXHUWDV\YHQWDQLOODV  
$VLHQWRVVLVWHPDVGH
VHJXULGDG  
3RUWDREMHWRV  
,QVWUXPHQWRV\PDQGRV  
,OXPLQDFLäQ  
6LVWHPDGHLQIRHQWUHWHQLPLHQWR  
&OLPDWL]DFLäQ  
&RQGXFFLäQ\PDQHMR  
&XLGDGRGHOYHKÞFXOR  
6HUYLFLR\PDQWHQLPLHQWR  
'DWRVWÚFQLFRV  
,QIRUPDFLäQGHFOLHQWHV  
¾QGLFHDOIDEÚWLFR  
 ,QWURGXFFLäQ

,QWURGXFFLäQ
,QWURGXFFLäQ 

'DWRVHVSHFÞILFRVGHO 6LHPSUHGHEHFXPSOLUODVOH\HV\ORV PRGHORODVHVSHFLILFDFLRQHVGHO


UHJODPHQWRVGHOSDÞVSRUGRQGHFLUಢ SDÞVRDHTXLSRVRDFFHVRULRV
YHKÞFXOR FXOH'LFKDVOH\HVSXHGHQGLIHULUGH HVSHFLDOHV
3RUIDYRUDQRWHORVGDWRVGHVXYHಢ ODLQIRUPDFLäQFRQWHQLGDHQHOSUHಢ ࿢ /DVHFFLäQ(QSRFDVSDODEUDVOH
KÞFXORHQODSÒJLQDDQWHULRUSDUDWHಢ VHQWH0DQXDOGH,QVWUXFFLRQHV SURSRUFLRQDXQDSULPHUDYLVLäQGH
QHUORVDPDQR(VWDLQIRUPDFLäQHVWÒ &XDQGRHVWH0DQXDOGH,QVWUXFFLRಢ FRQMXQWR
GLVSRQLEOHHQODVVHFFLRQHV6HUYLFLR QHVKDFHUHIHUHQFLDDXQDYLVLWDDOWDಢ ࿢ /DVWDEODVGHFRQWHQLGRVDOSULQFLಢ
\PDQWHQLPLHQWR\'DWRVWÚFQLFRV OOHUOHUHFRPHQGDPRVTXHDFXGDD SLRGHOPDQXDO\GHFDGDFDSÞWXOR
DVÞFRPRHQODSODFDGHFDUDFWHUÞVWLಢ VX5HSDUDGRU$XWRUL]DGR&KHYUROHW OHD\XGDUÒQDORFDOL]DUODLQIRUPDಢ
FDV
7RGRVORV5HSDUDGRUHV$XWRUL]DGRV FLäQ
&KHYUROHWOHRIUHFHQXQVHUYLFLRH[ಢ ࿢ (OÞQGLFHDOIDEÚWLFROHSHUPLWLUÒEXVಢ
,QWURGXFFLäQ FHOHQWHDSUHFLRVUD]RQDEOHV3HUVRಢ FDULQIRUPDFLäQHVSHFÞILFD
6XYHKÞFXORUHSUHVHQWDXQGLVHâR QDOH[SHULPHQWDGRIRUPDGRSRU&KHಢ
FRPELQDGRGHDYDQ]DGDWHFQRORJÞD YUROHWWUDEDMDVHJëQODVLQVWUXFFLRQHV ࿢ (QHVWH0DQXDOGH,QVWUXFFLRQHVVH
VHJXULGDGFRPSDWLELOLGDGHFROäJLFD\ HVSHFÞILFDVGH&KHYUROHW UHSUHVHQWDQYHKÞFXORVFRQYRODQWH
HFRQRPÞD DODL]TXLHUGD(OIXQFLRQDPLHQWRHV
/DGRFXPHQWDFLäQSDUDHOFOLHQWHGHಢ VLPLODUSDUDORVYHKÞFXORVFRQYRಢ
(VWH0DQXDOGH,QVWUXFFLRQHVOHSURಢ EHUÞDHVWDUVLHPSUHDPDQRHQHOYHಢ ODQWHDODGHUHFKD
SRUFLRQDWRGDODLQIRUPDFLäQQHFHVDಢ KÞFXOR
ULDSDUDFRQGXFLUHOYHKÞFXORGHIRUPD ࿢ (QHVWHPDQXDOVHXWLOL]DQODVGHಢ
VLJQDFLRQHVGHIÒEULFDSDUDORVPRಢ
VHJXUD\HILFLHQWH 8VRGHOSUHVHQWHPDQXDO WRUHV/DVGHVLJQDFLRQHVFRPHUಢ
,QIRUPHDORVRFXSDQWHVVREUHORVSRಢ ࿢ (VWHPDQXDOGHVFULEHWRGDVODVRSಢ FLDOHVFRUUHVSRQGLHQWHVVHSXHGHQ
VLEOHVSHOLJURVGHOHVLRQHV\DFFLGHQಢ FLRQHV\IXQFLRQHVGLVSRQLEOHVSDUD HQFRQWUDUHQHOFDSÞWXOR'DWRVWÚFಢ
WHVGHULYDGRVGHXQXVRLQFRUUHFWRGHO HVWHPRGHOR$OJXQDV QLFRV
YHKÞFXOR GHVFULSFLRQHVFRPRODVGHOD ࿢ /DVLQGLFDFLRQHVGHGLUHFFLäQ SHM
SDQWDOOD\ODVIXQFLRQHVGHOPHQë L]TXLHUGDRGHUHFKDGHODQWHRGHಢ
SRGUÞDQQRVHUYÒOLGDVSDUDVX WUÒV VHUHILHUHQVLHPSUHDOVHQWLGR
YHKÞFXORGHELGRDODYDULDQWHGH GHPDUFKD
 ,QWURGXFFLäQ

࿢ /DVLQGLFDFLRQHVHQSDQWDOODSXHಢ
GHQQRHVWDUHQVXLGLRPD $WHQFLäQ
࿢ /RVPHQVDMHVHQSDQWDOOD\ORVUäಢ (OWH[WRPDUFDGRFRQ$WHQFLäQ
WXORVLQWHULRUHVHVWÒQLPSUHVRVHQ RIUHFHLQIRUPDFLäQVREUHSRVLEOHV
QHJULWD GDâRVHQHOYHKÞFXOR6LVHLJQRUD
GLFKDLQIRUPDFLäQHOYHKÞFXOR
3HOLJUR$GYHUWHQFLD\ SXHGHVXIULUGDâRV
$WHQFLäQ
6ÞPERORV
 3HOLJUR /DVUHIHUHQFLDVDSÒJLQDVVHLQGLFDQ
PHGLDQWH (OVÞPEROR VLJQLILFD
(OWH[WRPDUFDGRFRQ3HOLJUR YÚDVHODSÒJLQD
RIUHFHLQIRUPDFLäQVREUHHOULHVJR
GHVXIULUOHVLRQHVIDWDOHV6LVHLJಢ /HGHVHDPRVPXFKDVKRUDVGHDJUDಢ
QRUDGLFKDLQIRUPDFLäQSXHGHKDಢ GDEOHFRQGXFFLäQ
EHUSHOLJURGHPXHUWH &KHYUROHW

 $GYHUWHQFLD
(OWH[WRPDUFDGRFRQ
$GYHUWHQFLDRIUHFHLQIRUPDFLäQ
VREUHULHVJRVGHDFFLGHQWHVROHಢ
VLRQHV6LVHLJQRUDGLFKDLQIRUPDಢ
FLäQSXHGHKDEHUULHVJRGHOHVLRಢ
QHV
,QWURGXFFLäQ 
 (QSRFDVSDODEUDV

(QSRFDVSDODEUDV 'HVEORTXHRGHOYHKÞFXOR /ODYHHOHFWUäQLFD

0DQGRDGLVWDQFLD
,QIRUPDFLäQLPSRUWDQWH
SDUDVXSULPHUYLDMH

(OXVXDULRGHEHOOHYDUFRQVLJRODOODYH
HOHFWUäQLFD3XOVHHOLQWHUUXSWRUHQOD
3XOVHHOERWäQASDUDGHVEORTXHDUODV PDQLOODGHODSXHUWDSDUDGHVEORTXHDU
SXHUWDV\HOFRPSDUWLPHQWRGHFDUJD HOYHKÞFXOR\WLUHGHODPDQLOODGHOD
$EUDODVSXHUWDVWLUDQGRGHODVPDQLಢ SXHUWDSDUDDEULUOD3DUDDEULUHOSRUಢ
OODVSDUDDEULUHOSRUWäQWUDVHURSXOVH WäQWUDVHURSXOVHHOERWäQVLWXDGRGHಢ
HOERWäQVLWXDGRGHEDMRGHODPROGXUD EDMRGHODPROGXUD
GHOSRUWäQWUDVHUR 6LVWHPDGHOODYHHOHFWUäQLFD 
6LSXOVDHOERWäQIVäORVHGHVEORಢ
TXHD\VHDEUHHOFRPSDUWLPHQWRGH
FDUJD
0DQGRDGLVWDQFLD &LHUUHFHQಢ
WUDOL]DGR &RPSDUWLPHQWRGH
FDUJD 
(QSRFDVSDODEUDV 

$MXVWHGHORVDVLHQWRV 5HVSDOGRGHODVLHQWR $OWXUDGHODVLHQWR

3RVLFLäQGHODVLHQWR

7LUHGHODSDODQFDDMXVWHODLQFOLQDಢ 0RYLPLHQWRGHERPEHRGHODSDODQFD
FLäQ\VXHOWHODSDODQFD'HMHTXHHO KDFLDDUULED PÒVDOWR
7LUHGHODVLGHURGHVOLFHHODVLHQWR DVLHQWRHQFODYHDXGLEOHPHQWH1RVH KDFLDDEDMR PÒVEDMR
VXHOWHHODVLGHUR DSR\HHQHOUHVSDOGRPLHQWUDVOR
DMXVWD $VLHQWRV SRVLFLäQGHDVLHQWR
$MXVWHGHORVDVLHQWRV 3RVLಢ
$MXVWHGHORVDVLHQWRV 3RVLಢ 
FLäQGHDVLHQWR 
FLäQGHDVLHQWR 
 (QSRFDVSDODEUDV

$MXVWHGHORV &LQWXUäQGHVHJXULGDG $MXVWHGHORVUHWURYLVRUHV


UHSRVDFDEH]DV 5HWURYLVRULQWHULRU

([WUDLJDHOFLQWXUäQGHVHJXULGDG\
3DUDDMXVWDUODDOWXUDWLUHGHOUHSRVDಢ HQFOÒYHORHQHOFLHUUH(OFLQWXUäQGH
FDEH]DVKDFLDDUULED3DUDEDMDUOR VHJXULGDGQRGHEHHVWDUUHWRUFLGR\ $MXVWHODSDODQFDHQODSDUWHLQIHULRU
SXOVHHOUHVRUWH\HPSXMHHOUHSRVDಢ GHEHTXHGDUELHQDMXVWDGRDOFXHUSR SDUDUHGXFLUHOGHVOXPEUDPLHQWR
FDEH]DVKDFLDDEDMR (OUHVSDOGRQRGHEHHVWDUGHPDVLDGR 5HWURYLVRULQWHULRU 5HWURYLVRU
LQFOLQDGRKDFLDDWUÒV PÒ[LPR LQWHULRUFRQDQWLGHVOXPEUDPLHQWRDXಢ
5HSRVDFDEH]DV 
DSUR[¡  WRPÒWLFR 
3DUDVROWDUHOFLQWXUäQSXOVHHOERWäQ
URMRGHOFLHUUH
&LQWXURQHVGHVHJXULGDG 6LVಢ
WHPDGHDLUEDJV 3RVLFLäQGH
DVLHQWR 
(QSRFDVSDODEUDV 

5HWURYLVRUHVH[WHULRUHV $MXVWHGHOYRODQWH

6HOHFFLRQH\DMXVWHHOUHWURYLVRUH[ಢ 'HVEORTXHHODSDODQFDDMXVWHHOYRಢ
WHULRUFRUUHVSRQGLHQWH ODQWHOXHJRHQFODYHODSDODQFD\DVHಢ
$MXVWHHOÚFWULFR 5HWURYLVRUHV JëUHVHGHTXHHVWÚWRWDOPHQWHEORಢ
H[WHULRUHVFRQYH[RV 5HWURYLಢ TXHDGD(OYRODQWHVäORVHGHEHDMXVಢ
VRUHVH[WHULRUHVSOHJDEOHV  WDUFRQHOYHKÞFXORSDUDGR\ODGLUHFಢ
5HWURYLVRUHVH[WHULRUHVWÚUPLFRV FLäQGHVEORTXHDGD
 6LVWHPDGHDLUEDJV 3RVLFLRಢ
QHVGHODOODYHGHOHQFHQGLGR 
 (QSRFDVSDODEUDV

9LVWDJHQHUDOGHOWDEOHURGHLQVWUXPHQWRV
(QSRFDVSDODEUDV 

 &RQPXWDGRUGHODVOXFHV    6LVWHPDGHLQIRHQWUHWHQLಢ  3DODQFDVHOHFWRUDFDPELR


PLHQWR   DXWRPÒWLFR  
)DURVDQWLQLHEOD  
 3DQWDOODGHLQIRUPDFLäQ   &DPELRPDQXDO  
3LORWRDQWLQLHEOD    /('GHHVWDGRGHOVLVWHPD  /XFHVGHHPHUJHQFLD  
,OXPLQDFLäQGHORV GHDODUPDDQWLUURER  
 &LHUUHFHQWUDOL]DGR  
LQVWUXPHQWRV    3RUWDREMHWRV  
 3HGDOGHODFHOHUDGRU  
 6DOLGDVGHDLUHODWHUDOHV    $LUEDJGHODFRPSDâDQWH  
 %RWäQ6WDUW6WRSGHO
 ,QWHUPLWHQWHVUÒIDJDVOX]  *XDQWHUD   VLVWHPDGHOODYH
GHFUXFH\OX]GHFDUUHWHUD  HOHFWUäQLFD  
&DMDGHIXVLEOHVHQ
,OXPLQDFLäQGHVDOLGD   YHKÞFXORVFRQYRODQWHDOD  3HGDOGHOIUHQR  
GHUHFKD    &HUUDGXUDGHOHQFHQGLGR
&HQWURGHLQIRUPDFLäQGHO
FRQGXFWRU    7HVWLJRGHFRQWUROGH FRQEORTXHRGHOYRODQWH  
GHVDFWLYDFLäQGHODLUEDJ\  3HGDOGHOHPEUDJXH  
 ,QVWUXPHQWRV  
UHFRUGDWRULRGHOFLQWXUäQ
 %RFLQD   GHVHJXULGDG    $MXVWHGHOYRODQWH  
 &DOHIDFFLäQYHQWLODFLäQ  5HJXODGRUGHYHORFLGDG  
$LUEDJGHOFRQGXFWRU  
FOLPDWL]DGRUDXWRPÒWLFR    &RPSDUWLPHQWR
 &HQWURGHLQIRUPDFLäQGHO
 6LVWHPDGHFRQWUROGH SRUWDREMHWRV  
FRQGXFWRU  
 0DQGRDGLVWDQFLDSDUDHO WUDFFLäQ   &DMDGHIXVLEOHVHQ
VLVWHPDGHLQIRHQWUHWHQLಢ &RQWUROHOHFWUäQLFRGH YHKÞFXORVFRQYRODQWHDOD
PLHQWR   HVWDELOLGDG   L]TXLHUGD  
 /LPSLDSDUDEULVDV  3DODQFDGHGHVEORTXHR
%RWäQ(&2SDUDHO GHOFDSä  
ODYDSDUDEULVDV
VLVWHPDVWRSVWDUW  
OLPSLDOXQHWDODYDOXQHWD  
 6DOLGDVGHDLUHFHQWUDOHV    
 (QSRFDVSDODEUDV
(QSRFDVSDODEUDV 

,OXPLQDFLäQH[WHULRU &RQPXWDGRUGHODVOXFHVFRQ ,OXPLQDFLäQ 


FRQWURODXWRPÒWLFRGHODVOXFHV
&RQPXWDGRUGHODVOXFHV

*LUDU
*LUDU $872 &RQWURODXWRPÒWLFRGHODV
 /XFHVDSDJDGDV OXFHVORVIDURV\ODVOXFHV
 /XFHVGHSRVLFLäQ ODWHUDOHVVHHQFLHQGHQ\
 )DURV DSDJDQDXWRPÒWLFDPHQWH
GHSHQGLHQGRGHODVFRQGLಢ
FLRQHVGHOX]H[WHULRU
P $FWLYDFLäQRGHVDFWLYDFLäQ
GHOFRQWURODXWRPÒWLFRGH
ODVOXFHVHOFRQPXWDGRU
YXHOYHD$872
 /XFHVGHSRVLFLäQ
 )DURV
 (QSRFDVSDODEUDV

/XFHVDQWLQLHEOD 5ÒIDJDVOX]GHFDUUHWHUD\OX] 6HâDOL]DFLäQGHJLURV\FDPELRV


GHFUXFH GHFDUULO

3XOVDU
 )DURVDQWLQLHEOD 5ÒIDJDV 7LUHGHODSDODQFD 'HUHFKD 3DODQFDKDFLDDUULED
P 3LORWRDQWLQLHEOD /X]GH 3UHVLRQHODSDODQFD $OD 3DODQFDKDFLDDEDMR
FDUUHWHUD L]TXLHUGD
/X]GH 3UHVLRQHRWLUHGHOD
FUXFH SDODQFD 6HâDOL]DFLäQGHJLURV\FDPELRVGH
FDUULO 
/X]GHFDUUHWHUD 5ÒIDJDV
&RQWURODXWRPÒWLFRGHODVOXಢ
FHV 
(QSRFDVSDODEUDV 

/XFHVGHHPHUJHQFLD %RFLQD 6LVWHPDVOLPSLD\


ODYDSDUDEULVDV
/LPSLDSDUDEULVDV

6HDFFLRQDQFRQHOERWäQe 3XOVHH
/XFHVGHHPHUJHQFLD 

SXHUWDVSXHUWDV
+, YHORFLGDGUÒSLGD
/2 YHORFLGDGOHQWD
,17 IXQFLRQDPLHQWRDLQWHUYDORV
UHJXODEOHVRVHQVRUGHOOXಢ
YLD
2)) GHVFRQHFWDGR
 (QSRFDVSDODEUDV

6WDWLRQ:DJRQ 6LVWHPDODYDSDUDEULVDV 6LVWHPDVOLPSLDOXQHWD\


 YHORFLGDGUÒSLGD ODYDOXQHWD
 YHORFLGDGOHQWD
' FRQH[LäQDLQWHUYDORVRIXQFLRಢ
QDPLHQWRDXWRPÒWLFRFRQVHQಢ
VRUGHOOXYLD
c GHVFRQHFWDGR
3DUDXQVROREDUULGRFXDQGRORVOLPಢ
SLDSDUDEULVDVHVWÒQGHVFRQHFWDGRV
SXOVHODSDODQFDKDFLDDEDMR
/LPSLDSDUDEULVDV 6XVWLWXFLäQ
GHODVHVFRELOODV 

7LUHGHODSDODQFD
6LVWHPDODYDSDUDEULVDV /Þಢ 3XOVHHOLQWHUUXSWRUEDVFXODQWHSDUD
TXLGRGHODYDGR  DFWLYDUHOOLPSLDOXQHWD
SRVLFLäQ IXQFLRQDPLHQWRFRQWLಢ
VXSHULRU QXR
SRVLFLäQ IXQFLRQDPLHQWRLQWHUಢ
LQIHULRU PLWHQWH
SRVLFLäQ GHVFRQHFWDGR
FHQWUDO
/LPSLDODYDOXQHWD 
(QSRFDVSDODEUDV 

&OLPDWL]DFLäQ 'HVHPSDâDGR\
GHVFRQJHODFLäQGHORVFULVWDOHV
/XQHWDWÚUPLFDWUDVHUD
UHWURYLVRUHVH[WHULRUHVWÚUPLFRV

3UHVLRQHODSDODQFD
6HSXOYHUL]DOÞTXLGRGHODYDGRVREUH
ODOXQHWDWUDVHUD\HOOLPSLDOXQHWDUHDಢ
OL]DHOEDUULGRYDULDVYHFHV 3XOVHHOERWäQ5
3RQJDHOPDQGRGHODWHPSHUDWXUDHQ
/DUHVLVWHQFLDWÚUPLFDVHDFFLRQDSXOಢ HOQLYHOPÒVFÒOLGR
VDQGRHOERWäQ^ 5HIULJHUDFLäQLFRQHFWDGD
/XQHWDWÚUPLFDWUDVHUD  /XQHWDWÚUPLFDWUDVHUD^FRQHFWDGD
&OLPDWL]DGRUDXWRPÒWLFR 
 (QSRFDVSDODEUDV

&DMDGHFDPELRV &DPELRDXWRPÒWLFR &DPELRDXWRPÒWLFR 

&DPELRPDQXDO

3 HVWDFLRQDPLHQWR
5 PDUFKDDWUÒV
0DUFKDDWUÒVFRQHOYHKÞFXORSDUDGR 1 SXQWRPXHUWR
GHVHPEUDJXH\OXHJROHYDQWHODDQLOOD ' PDUFKDKDFLDGHODQWH
GHODSDODQFDVHOHFWRUD\HQJUDQHOD
0RGRPDQXDOPXHYDODSDODQFDVHಢ
PDUFKD
OHFWRUDGHVGH'KDFLDODL]TXLHUGD
6LODPDUFKDQRHQWUDFRQIDFLOLGDG
 PDUFKDPÒVODUJD
SRQJDODSDODQFDHQSXQWRPXHUWR
< PDUFKDPÒVFRUWD
VXHOWHHOSHGDOGHOHPEUDJXH\SÞVHOR
GHQXHYROXHJRUHSLWDODVHOHFFLäQGH /DSDODQFDVHOHFWRUDVäORSXHGHPRಢ
ODPDUFKD YHUVHGHODSRVLFLäQ3FRQHOHQFHQಢ
&DPELRPDQXDO  GLGRFRQHFWDGR\HOSHGDOGHOIUHQR
SLVDGR3DUDVHOHFFLRQDU3R5SXOVH
HOERWäQGHGHVEORTXHR
(QSRFDVSDODEUDV 

$OVDOLUGHYLDMH $UUDQTXHGHOPRWRUFRQOD ࿢ 0RWRUGLÚVHOJLUHODOODYHDODSRVLಢ


FHUUDGXUDGHOHQFHQGLGR FLäQSDUDHOSUHFDOHQWDPLHQWR
&RPSUREDFLRQHVDQWHVGH KDVWDTXHHOWHVWLJRGHFRQWURO
VHDSDJXH
FRPHQ]DUXQYLDMH
࿢ /DSUHVLäQGHORVQHXPÒWLFRV\VX ࿢ *LUHODOODYHDODSRVLFLäQ\VXÚOಢ
HVWDGR   WHODFXDQGRHOPRWRUHVWÚHQPDUಢ
FKD
࿢ (OQLYHOGHDFHLWHGHOPRWRU\GHORV
GHPÒVOÞTXLGRV  $QWHVGHUHSHWLUHODUUDQTXHRSDUD
DSDJDUHOPRWRUJLUHGHQXHYRODOODYH
࿢ 7RGRVORVFULVWDOHVUHWURYLVRUHV D
LOXPLQDFLäQH[WHULRU\SODFDVGH
PDWUÞFXODGHEHQHVWDUHQEXHQHVಢ
WDGR\OLEUHVGHVXFLHGDGQLHYHR
KLHOR
࿢ /DFRUUHFWDSRVLFLäQGHORVDVLHQಢ
WRVFLQWXURQHVGHVHJXULGDG\UHಢ ࿢ *LUHODOODYHDODSRVLFLäQ
WURYLVRUHV   
࿢ PXHYDOLJHUDPHQWHHOYRODQWHSDUD
࿢ (OIXQFLRQDPLHQWRGHORVIUHQRVD GHVDFWLYDUHOEORTXHR
EDMDYHORFLGDGHVSHFLDOPHQWHVL ࿢ &DPELRPDQXDODFFLRQHHOHPEUDಢ
ORVIUHQRVHVWÒQKëPHGRV JXH
࿢ &DPELRDXWRPÒWLFRDFFLRQHHO
IUHQR\SRQJDODSDODQFDVHOHFWRUD
HQ3R1
࿢ 1RDFHOHUH
 (QSRFDVSDODEUDV

$UUDQTXHGHOPRWRUFRQHOERWäQ 3XOVHGHQXHYRHOERWäQFRQHOPRWRU 6LVWHPDVWRSVWDUW


6WDUW6WRS HQPDUFKDSDUDDSDJDUHOPRWRU
$UUDQTXHGHOPRWRU 

6LHOYHKÞFXORFLUFXODDEDMDYHORFLGDG
࿢ /DOODYHHOHFWUäQLFDGHEHHVWDUHQ RHVWÒSDUDGR\VHFXPSOHQGHWHUPLಢ
HOLQWHULRUGHOYHKÞFXORRHOXVXDULR QDGDVFRQGLFLRQHVDFWLYHODIXQFLäQ
GHEHOOHYDUODOODYHFRQVLJR GHSDUDGDDXWRPÒWLFD$XWRVWRSGHO
VLJXLHQWHPRGR
࿢ &DPELRPDQXDODFFLRQHHOHPEUDಢ
JXH ࿢ SLVHHOSHGDOGHOHPEUDJXH
࿢ &DPELRDXWRPÒWLFRDFFLRQHHO ࿢ SRQJDODSDODQFDHQSXQWRPXHUWR
IUHQR\SRQJDODSDODQFDVHOHFWRUD ࿢ VXHOWHHOSHGDOGHOHPEUDJXH
HQ3R1 /DSDUDGDDXWRPÒWLFD $XWRVWRS VH
࿢ 1RDFHOHUH LQGLFDPHGLDQWHODDJXMDHQODSRVLಢ
࿢ 3XOVHHOERWäQ6WDUW6WRS\VXÚOWHOR FLäQ$8726723HQHOFXHQWDUUHYRಢ
FXDQGRHOPRWRUHVWÚHQPDUFKD(O OXFLRQHV
/('YHUGHVHLOXPLQDUÒHQFXDQWR
HOPRWRUHVWÚHQPDUFKD
(QSRFDVSDODEUDV 

3DUDYROYHUDDUUDQFDUHOPRWRUSLVH (VWDFLRQDPLHQWR 6LHOYHKÞFXORHVWÒFXHVWDDEDMR


GHQXHYRHOSHGDOGHOHPEUDJXH HQJUDQHODPDUFKDDWUÒVRPXHYD
࿢ $FFLRQHVLHPSUHHOIUHQRGHHVWDಢ ODSDODQFDVHOHFWRUDD3DQWHVGH
6LVWHPDVWRSVWDUW  FLRQDPLHQWRVLQSXOVDUHOERWäQGH GHVFRQHFWDUHOHQFHQGLGR*LUHODV
GHVEORTXHR(QSHQGLHQWHVDSOÞಢ UXHGDVGHODQWHUDVKDFLDHOERUGLOOR
TXHORFRQWRGDODILUPH]DSRVLEOH
3DUDUHGXFLUHOHVIXHU]RSLVHHOSHಢ ࿢ &LHUUHODVYHQWDQLOODV\HOWHFKRVRಢ
GDOGHOIUHQRDOPLVPRWLHPSR ODU
࿢ 'HVFRQHFWHHOPRWRU\HOHQFHQಢ ࿢ %ORTXHHHOYHKÞFXORFRQHOERWäQC
GLGR*LUHODOODYHGHOHQFHQGLGRD GHOPDQGRDGLVWDQFLDRFRQVLVಢ
VÒTXHOD\JLUHHOYRODQWHKDVWD WHPDGHOODYHHOHFWUäQLFDSXOVHHO
TXHSHUFLEDTXHHOEORTXHRGHOYRಢ LQWHUUXSWRUHQODPDQLOODGHOD
ODQWHKDHQFODYDGR9HKÞFXORVFRQ SXHUWD
VLVWHPDGHOODYHHOHFWUäQLFDFRQHO ࿢ &RQHFWHHOVLVWHPDGHDODUPDDQWLಢ
YHKÞFXORSDUDGRSXOVHHOERWäQ UURER 
6WDUW6WRS\DEUDODSXHUWDGHOFRQಢ ࿢ 1RHVWDFLRQHHOYHKÞFXORVREUHXQD
GXFWRU VXSHUILFLHIÒFLOPHQWHLQIODPDEOH/D
(QYHKÞFXORVFRQFDPELRDXWRPÒಢ HOHYDGDWHPSHUDWXUDGHOVLVWHPD
WLFRPXHYDODSDODQFDVHOHFWRUDD GHHVFDSHSRGUÞDLQIODPDUGLFKD
ODSRVLFLäQ3\VDTXHODOODYH VXSHUILFLH
࿢ 6LHOYHKÞFXORHVWÒHQXQDVXSHUILಢ ࿢ /RVYHQWLODGRUHVGHUHIULJHUDFLäQ
FLHSODQDRFXHVWDDUULEDHQJUDQH GHOPRWRUSXHGHQVHJXLUIXQFLRಢ
ODSULPHUDRPXHYDODSDODQFDVHಢ QDQGRGHVSXÚVGHGHVFRQHFWDUHO
OHFWRUDD3DQWHVGHGHVFRQHFWDUHO PRWRU 
HQFHQGLGR6LHOYHKÞFXORHVWÒ ࿢ 'HVSXÚVGHFLUFXODUDXQUÚJLPHQ
FXHVWDDUULEDJLUHODVUXHGDVGHಢ HOHYDGRRDOWDFDUJDGHMHIXQFLRQDU
ODQWHUDVHQODGLUHFFLäQFRQWUDULDDO HOPRWRUGLÚVHOEUHYHPHQWHFRQ
ERUGLOOR
 (QSRFDVSDODEUDV

EDMDFDUJDRDOUDOHQWÞGXUDQWHD
PLQXWRVDQWHVGHSDUDUORDILQGH
SURWHJHUHOWXUERFRPSUHVRU
/ODYHVFHUUDGXUDV 
/ODYHVSXHUWDV\YHQWDQLOODV 

/ODYHVFHUUDGXUDV 3XOVHHOERWäQSDUDGHVSOHJDUOR3DUD
/ODYHVSXHUWDV\ SOHJDUODOODYHSXOVHSULPHURHOERWäQ
YHQWDQLOODV /ODYHV
0DQGRDGLVWDQFLD
/ODYHVGHUHSXHVWR
/ODYHVFHUUDGXUDV   (OQëPHURGHODOODYHVHHVSHFLILFDHQ
3XHUWDV   XQDHWLTXHWDTXHVHSXHGHTXLWDU
6HJXULGDGGHOYHKÞFXOR   $OSHGLUOODYHVGHUHSXHVWRGHEHLQGLಢ
FDUVHHOQëPHURGHOODYHFRUUHVSRQಢ
5HWURYLVRUHVH[WHULRUHV   GLHQWH\DTXHODOODYHHVXQFRPSRಢ
5HWURYLVRULQWHULRU   QHQWHGHOVLVWHPDLQPRYLOL]DGRU
9HQWDQLOODV   &HUUDGXUDV 
7HFKR  
/ODYHFRQSDOHWäQSOHJDEOH

6HXVDSDUDDFFLRQDU
࿢ &LHUUHFHQWUDOL]DGR
࿢ 6LVWHPDGHDODUPDDQWLUURER
࿢ &RPSDUWLPHQWRGHFDUJD
(OPDQGRDGLVWDQFLDWLHQHXQDOFDQFH
GHPHWURVDSUR[LPDGDPHQWH'Lಢ
FKRDOFDQFHSXHGHYHUVHDIHFWDGR
SRULQIOXHQFLDVH[WHUQDV
/DVOXFHVGHHPHUJHQFLDVHLOXPLQDQ
SDUDFRQILUPDUHODFFLRQDPLHQWR
 /ODYHVSXHUWDV\YHQWDQLOODV

'HEHWUDWDUORFRQFXLGDGRSURWHJHUOR ࿢ DFFLRQDPLHQWRUHSHWLGR\IUHFXHQWH /DVSLODVQRGHEHQDUURMDUVHDODEDಢ


GHODKXPHGDG\GHODVWHPSHUDWXUDV GHOPDQGRDGLVWDQFLDIXHUDGHODOಢ VXUDGRPÚVWLFD'HEHQGHVHFKDUVH
DOWDV\HYLWHDFFLRQDUORLQQHFHVDULDಢ FDQFHGHUHFHSFLäQGHOYHKÞFXOR HQXQSXQWRGHUHFRJLGDDXWRUL]DGR
PHQWH VHUÒQHFHVDULRYROYHUDVLQFURQLಢ SDUDVXUHFLFODMH
]DUOR
࿢ VREUHFDUJDGHOFLHUUHFHQWUDOL]DGR
GHELGRDXQDFFLRQDPLHQWRIUHಢ
FXHQWHHQEUHYHVLQWHUYDORVVHLQಢ
WHUUXPSHODDOLPHQWDFLäQGHFRಢ
UULHQWHGXUDQWHXQEUHYHSHUÞRGRGH
WLHPSR
࿢ LQWHUIHUHQFLDGHRQGDVGHUDGLRGH
PD\RUSRWHQFLDSURFHGHQWHVGH
RWUDVIXHQWHV
$EULUHOYHKÞFXOR 

$MXVWHVEÒVLFRV 'HVSOLHJXHODOODYH\DEUDODXQLGDG
$YHUÞD $OJXQRVDMXVWHVSXHGHQFDPELDUVH
6LHOFLHUUHFHQWUDOL]DGRQRVHDFWLYD 6XVWLWX\DODSLOD WLSR&5 SUHVಢ
HQHOPHQë$MXVWHVGHOD WDQGRDWHQFLäQDODSRVLFLäQGHPRQಢ
FRQHOPDQGRDGLVWDQFLDSXHGHGHಢ SDQWDOODGHLQIRUPDFLäQ3HUVRQDOL]Dಢ
EHUVHDORVLJXLHQWH WDMH&LHUUHODXQLGDG\VLQFURQLFHHO
FLäQGHOYHKÞFXOR  PDQGRDGLVWDQFLD
࿢ VHKDH[FHGLGRHODOFDQFH
࿢ ODWHQVLäQGHODSLODHVGHPDVLDGR 6XVWLWXFLäQGHODSLODGHOPDQGR
EDMD DGLVWDQFLD
6XVWLWX\DODSLODHQFXDQWRGLVPLQX\D
HODOFDQFH
/ODYHVSXHUWDV\YHQWDQLOODV 

1RWD 6LVWHPDGHOODYH $UUDQTXHGHOPRWRU 


3DUDTXHODOODYHIXQFLRQHFRUUHFWDಢ
PHQWHVLJDHVWRVFRQVHMRV HOHFWUäQLFD  $GYHUWHQFLD
࿢ (YLWHGHMDUFDHUODOODYH
1RSXOVHHOERWäQ6WDUW6WRSFRQHO
࿢ 1RFRORTXHREMHWRVSHVDGRVVRಢ
YHKÞFXORHQPDUFKD(OFRQGXFWRU
EUHODOODYH
SRGUÞDSHUGHUHOFRQWUROGHOYHಢ
࿢ 0DQWHQJDODOODYHDOHMDGDGHO KÞFXORGHMDUÞDGHIXQFLRQDUHOVHUಢ
DJXD\GHODOX]VRODUGLUHFWD6LOD YRIUHQR\FDXVDUXQDFFLGHQWH
OODYHVHPRMDVÚTXHODFRQXQ $VLPLVPRQXQFDGHMHEHEÚVQLಢ
SDâRVXDYH âRV\MäYHQHVVRORVHQHOYHKÞFXOR
3XHGHRFXUULUDOJëQDFFLGHQWH
$MXVWHVPHPRUL]DGRV
$OVDFDUODOODYHGHODFHUUDGXUDGHO
HQFHQGLGRVHPHPRUL]DQDXWRPÒWLಢ $WHQFLäQ
FDPHQWHORVDMXVWHVSDUDODOODYHXWLಢ
OL]DGD 3HUPLWHHODFFLRQDPLHQWRVLQODOODYH $OSXOVDUHOERWäQ6WDUW6WRSVH
PHFÒQLFDGHORVLJXLHQWH SXHGHDUUDQFDUHOPRWRUVLODOODYH
࿢ &OLPDWL]DGRUDXWRPÒWLFRHOHFWUäಢ HOHFWUäQLFDHVWÒHQHOYHKÞFXOR
QLFR ࿢ HOFLHUUHFHQWUDOL]DGR
1XQFDGHMHVRORVHQHOYHKÞFXORD
࿢ ,OXPLQDFLäQ ࿢ HOVLVWHPDGHDODUPDDQWLUURER QLâRVQLDSHUVRQDVTXHQRHVWÚQ
࿢ 6LVWHPDGHLQIRHQWUHWHQLPLHQWR ࿢ HOHQFHQGLGR\HOPRWRUGHDUUDQಢ IDPLOLDUL]DGDVFRQHOPLVPR3Rಢ
TXH GUÞDQGDUOXJDUDDFFLGHQWHV'HVಢ
࿢ &HUUDGXUDVGHSXHUWDVHOÚFWULFDV
(OFRQGXFWRUVäORWLHQHTXHOOHYDU FRQHFWHHOHQFHQGLGRFXDQGR
/RVDMXVWHVJXDUGDGRVVHXWLOL]DQDXಢ VDOJDGHOYHKÞFXOR\OOHYHVLHPSUH
WRPÒWLFDPHQWHFXDQGRVHLQVHUWDOD FRQVLJRODOODYHHOHFWUäQLFD
FRQVLJRODOODYHHOHFWUäQLFD
OODYHHQODFHUUDGXUDGHOHQFHQGLGR 1RWD
3HUVRQDOL]DFLäQGHOYHKÞFXOR  1RSRQJDODOODYHHOHFWUäQLFDHQHO
FRPSDUWLPHQWRGHFDUJDQLGHODQWH
GHOD,QIR'LVSOD\
 /ODYHVSXHUWDV\YHQWDQLOODV

0DQGRDGLVWDQFLD /DVSLODVQRGHEHQDUURMDUVHDODEDಢ &LHUUHFHQWUDOL]DGR


VXUDGRPÚVWLFD'HEHQGHVHFKDUVH
HQXQSXQWRGHUHFRJLGDDXWRUL]DGR 3HUPLWHEORTXHDU\GHVEORTXHDUODV
SDUDVXUHFLFODMH SXHUWDVHOFRPSDUWLPHQWRGHFDUJD\
ODWDSDGHOGHSäVLWRGHFRPEXVWLEOH
6XVWLWXFLäQGHODSLOD 
$OWLUDUGHXQDPDQLOODLQWHULRUVHGHVಢ
6XVWLWX\DODSLOD WLSR&5 DWHQಢ EORTXHD\VHDEUHODSXHUWD
GLHQGRDODSRVLFLäQGHPRQWDMH(Qಢ
FODYHODVWDSDV 1RWD
(QFDVRGHDFFLGHQWHGHXQDGHWHUಢ
6LQFURQL]DFLäQGHOPDQGRD PLQDGDJUDYHGDGHOYHKÞFXORVH
GLVWDQFLD GHVEORTXHDDXWRPÒWLFDPHQWH
(OPDQGRDGLVWDQFLDVHVLQFURQL]D 'HVEORTXHR
DXWRPÒWLFDPHQWHHQFDGDSURFHVRGH
DUUDQTXH 0DQGRDGLVWDQFLD
/DOODYHHOHFWUäQLFDWLHQHWDPELÚQXQ
PDQGRDGLVWDQFLD $YHUÞD
6LQRHVSRVLEOHDFFLRQDUHOFLHUUH
&DPELRGHODSLODGHODOODYH FHQWUDOL]DGRRDUUDQFDUHOPRWRU
HOHFWUäQLFD SXHGHGHEHUVHDXQDGHODVFDXVDV
6XVWLWX\DODSLODHQFXDQWRHOVLVWHPD VLJXLHQWHV
QRIXQFLRQHFRUUHFWDPHQWHRVHUHಢ ࿢ DYHUÞDHQHOPDQGRDGLVWDQFLD
GX]FDHODOFDQFH/DQHFHVLGDGGH 
VXVWLWXLUODSLODVHLQGLFDPHGLDQWHXQ
FäGLJRGHHUURUHQHO ࿢ OODYHHOHFWUäQLFDIXHUDGHODOFDQFH
'ULYHU,QIRUPDWLRQ&HQWHU  GHUHFHSFLäQ
3DUDVXEVDQDUODFDXVDGHODDYHUÞD
FDPELHODSRVLFLäQGHODOODYHHOHFWUäಢ
QLFD 3XOVHHOERWäQA
/ODYHVSXHUWDV\YHQWDQLOODV 

6HSXHGHFRQILJXUDUSDUDGHVEORಢ 3XOVHHOLQWHUUXSWRUHQODPDQLOODGHOD
TXHDUVäORODSXHUWDGHOFRQGXFWRU SXHUWDSDUDGHVEORTXHDUHOYHKÞFXOR
SXOVDQGRHOERWäQAXQDYH]\SDUD \WLUHGHODPDQLOODGHODSXHUWDSDUD
GHVEORTXHDUWRGDVODVSXHUWDVHO DEULUODRSXOVHHOERWäQGHEDMRGHOD
FRPSDUWLPHQWRGHFDUJD\ODWDSDGHO PROGXUDGHODWDSDGHOPDOHWHUR
GHSäVLWRGHFRPEXVWLEOHSXOVDQGRHO /DOODYHHOHFWUäQLFDGHEHHVWDUIXHUD
ERWäQAGRVYHFHV GHOYHKÞFXORDPHQRVGHXQPHWURGH
/RVDMXVWHVSXHGHQFDPELDUVHHQHO GLVWDQFLDDSUR[LPDGDPHQWH
PHQë$MXVWHVGHODSDQWDOODGHLQIRUಢ 6HSXHGHFRQILJXUDUSDUDGHVEORಢ
PDFLäQ3HUVRQDOL]DFLäQGHOYHKÞFXOR TXHDUVäORODVSXHUWDVGHOODGRFRಢ
 UUHVSRQGLHQWHRWRGDVODVSXHUWDV
/RVDMXVWHVVHSXHGHQPHPRUL]DU /RVDMXVWHVSXHGHQFDPELDUVHHQHO
PHGLDQWHODOODYHXWLOL]DGDDMXVWHV PHQë$MXVWHVGHODSDQWDOODGHLQIRUಢ 3XOVHHOERWäQC
PHPRUL]DGRV  PDFLäQ3HUVRQDOL]DFLäQGHOYHKÞFXOR 6LODSXHUWDGHOFRQGXFWRUQRHVWÒ
 ELHQFHUUDGDHOFLHUUHFHQWUDOL]DGRQR
6LVWHPDGHOODYHHOHFWUäQLFD
IXQFLRQDUÒ$FWLYDFLäQRGHVDFWLYDಢ
%ORTXHR FLäQGHHVWDIXQFLäQHQHOPHQë
$MXVWHVGHODSDQWDOODGHLQIRUPDFLäQ
0DQGRDGLVWDQFLD
3HUVRQDOL]DFLäQGHOYHKÞFXOR 
&LHUUHODVSXHUWDVHOFRPSDUWLPHQWR
GHFDUJD\ODWDSDGHOGHSäVLWRGH
FRPEXVWLEOH
 /ODYHVSXHUWDV\YHQWDQLOODV

6LVWHPDGHOODYHHOHFWUäQLFD 1RWD SXHUWDV


(OYHKÞFXORQRVHEORTXHDDXWRPÒWLಢ
FDPHQWH
'HVEORTXHRGHOSRUWäQWUDVHUR
SXHUWDV6WDWLRQ:DJRQ

3XOVHHOLQWHUUXSWRUHQXQDPDQLOODGH 3XOVHHOERWäQI(OSRUWäQWUDVHUR
ODSXHUWD VHGHVEORTXHD\VHDEUHPLHQWUDV
/DOODYHHOHFWUäQLFDGHEHHVWDUIXHUD TXHODVGHPÒVSXHUWDVSHUPDQHFHQ
GHOYHKÞFXORDPHQRVGHXQPHWURGH EORTXHDGDV
GLVWDQFLDDSUR[LPDGDPHQWH/DRWUD
OODYHHOHFWUäQLFDQRGHEHHVWDUHQHO 6LVWHPDGHOODYHHOHFWUäQLFD
3XOVHHOERWäQAXQDYH]RGRVYHFHV
LQWHULRUGHOYHKÞFXOR GHSHQGLHQGRGHODMXVWHVHOHFFLRಢ
QDGR(OSRUWäQWUDVHURVHGHVEORಢ
$WHQFLäQ
'HEHQWUDQVFXUULUVHJXQGRVDQWHV
GHSRGHUGHVEORTXHDUHOYHKÞFXOR(Q TXHDUÒ\VHDEULUÒ
&XDQGRWRGDVODVSXHUWDVHVWÒQ
HVHSOD]RGHWLHPSRVHSXHGHFRPಢ 3HUVRQDOL]DFLäQGHOYHKÞFXOR  EORTXHDGDVHOFRPSDUWLPHQWRGH
SUREDUTXHHOYHKÞFXORHVWÒEORಢ
FDUJDSXHGHGHVEORTXHDUVHFRQOD
TXHDGR
OODYHHOHFWUäQLFD(QWRQFHVVLFLHಢ
UUDHOSRUWäQWUDVHURFRQODOODYH
/ODYHVSXHUWDV\YHQWDQLOODV 

HOHFWUäQLFDHQHOLQWHULRUGHOFRPಢ &XDQGRODOODYHHVWÒHQODFHUUDGXUD GHOGHSäVLWRGHFRPEXVWLEOH3DUD


SDUWLPHQWRGHFDUJDODSXHUWDGHO GHOHQFHQGLGRHOEORTXHRVäORVHUÒ GHVDFWLYDUHOVLVWHPDDQWLUURERFRಢ
FRQGXFWRU\HOSRUWäQWUDVHURVH SRVLEOHVLWRGDVODVSXHUWDVHVWÒQFHಢ QHFWHHOHQFHQGLGR
GHVEORTXHDUÒQ\VRQDUÒXQDYLVR UUDGDV
%ORTXHR
DFëVWLFR
$YHUÞDHQHOVLVWHPDGHPDQGR &RQHFWHHOHQFHQGLGR\SXOVHHOERಢ
DGLVWDQFLDRVLVWHPDGHOODYH WäQGHOFLHUUHFHQWUDOL]DGRCSDUDEORಢ
%RWRQHVGHOFLHUUHFHQWUDOL]DGR TXHDUWRGDVODVSXHUWDVHOFRPSDUWLಢ
3HUPLWHQEORTXHDURGHVEORTXHDUWRಢ HOHFWUäQLFD
PHQWRGHFDUJD\ODWDSDGHOGHSäVLWR
GDVODVSXHUWDVHOFRPSDUWLPHQWRGH 'HVEORTXHR GHFRPEXVWLEOH/XHJRFLHUUHOD
FDUJD\ODWDSDGHOGHSäVLWRGHFRPಢ SXHUWDGHOFRQGXFWRU\EORTXÚHOD
EXVWLEOH GHVGHIXHUDFRQODOODYH

$YHUÞDGHOFLHUUHFHQWUDOL]DGR
'HVEORTXHR
'HVEORTXHHPDQXDOPHQWHODSXHUWD
GHOFRQGXFWRUJLUDQGRODOODYHHQOD
FHUUDGXUD/DVRWUDVSXHUWDVSXHGHQ
DEULUVHDFFLRQDQGRODPDQLOODLQWHULRU
GRVYHFHV/DWDSDGHOGHSäVLWRGH
FRPEXVWLEOHQRVHSXHGHDEULU3DUD
GHVDFWLYDUHOVLVWHPDDQWLUURERFRಢ
QHFWHHOHQFHQGLGR 
'HVEORTXHHPDQXDOPHQWHODSXHUWD
GHOFRQGXFWRUJLUDQGRODOODYHHQOD
3XOVHHOERWäQCSDUDEORTXHDU
FHUUDGXUD&RQHFWHHOHQFHQGLGR\
3XOVHHOERWäQASDUDGHVEORTXHDU SXOVHHOERWäQGHOFLHUUHFHQWUDOL]DGR
ASDUDGHVEORTXHDUWRGDVODVSXHUWDV
HOFRPSDUWLPHQWRGHFDUJD\ODWDSD
 /ODYHVSXHUWDV\YHQWDQLOODV

'HVEORTXHRGHOSRUWäQWUDVHUR %ORTXHRDXWRPÒWLFR $WHQFLäQ


%ORTXHRDXWRPÒWLFRGHVSXÚVGH 1RGHVEORTXHHODSXHUWDFRQHO
LQLFLDUODPDUFKD YHKÞFXORHQPDUFKD6LXQRFXಢ
(VWDIXQFLäQGHVHJXULGDGSXHGH SDQWHDEUHODSXHUWDVLQTXHUHUVH
FRQILJXUDUVHSDUDEORTXHDUDXWRPÒWLಢ SXHGHQSURGXFLUOHVLRQHVJUDYHVR
FDPHQWHWRGDVODVSXHUWDVHOFRPಢ IDWDOHVHQFDVRGHDFFLGHQWH
SDUWLPHQWRGHFDUJD\ODWDSDGHOGHಢ 3RUPRWLYRVGHVHJXULGDGVLOD
SäVLWRGHFRPEXVWLEOHHQFXDQWRHO SXHUWDVHGHVEORTXHDPDQXDOಢ
YHKÞFXORLQLFLDODPDUFKD PHQWHYXHOYDDEORTXHDUOD
/RVDMXVWHVSXHGHQFDPELDUVHHQHO XVDQGRHOERWäQGHEORTXHRGHOD
PHQë$MXVWHVGHODSDQWDOODGHLQIRUಢ SXHUWD
PDFLäQ3HUVRQDOL]DFLäQGHOYHKÞFXOR
7LUHGHODPDQLOODHQHOLQWHULRUGHO  /RVDMXVWHVVHSXHGHQPHPRUL]DU
SRUWäQWUDVHUR 'LFKREORTXHRVHGHVEORTXHDUÒDXಢ PHGLDQWHODOODYHXWLOL]DGD 
WRPÒWLFDPHQWHVLRFXUUHDOJRGHORVLಢ
%ORTXHR JXLHQWH
3XOVHHOERWäQLQWHULRUGHEORTXHRGH &RQFDPELRDXWRPÒWLFRFXDQGROD
WRGDVODVSXHUWDVH[FHSWRODSXHUWD SDODQFDVHOHFWRUDHVWÒHQ3GHVSXÚV
GHOFRQGXFWRU/XHJRFLHUUHODSXHUWD GHFRQGXFLU
GHOFRQGXFWRU\EORTXÚHODGHVGH
IXHUDFRQODOODYH/DWDSDGHOGHSäಢ &RQFDPELRPDQXDOFXDQGRVH
VLWRGHFRPEXVWLEOH\HOSRUWäQWUDVHUR VDFDODOODYHGHODFHUUDGXUDGHOHQಢ
QRVHSXHGHQEORTXHDU FHQGLGRGHVSXÚVGHFRQGXFLU
&RQOODYHHOHFWUäQLFD\FDPELRPDಢ
QXDOFXDQGRHOPRWRUVHSDUDSXOಢ
VDQGRHOERWäQ6WDUW6WRSGHVSXÚVGH
FRQGXFLU
/ODYHVSXHUWDV\YHQWDQLOODV 

6HJXURVSDUDQLâRV 8VDQGRODOODYHRXQGHVWRUQLOODGRU 3XHUWDV


DGHFXDGRJLUHORVVHJXURVSDUDQLಢ
âRVGHODVSXHUWDVWUDVHUDVKDVWDOD
SRVLFLäQKRUL]RQWDO/DVSXHUWDVQR
&RPSDUWLPHQWRGHFDUJD
SXHGHQDEULUVHGHVGHHOLQWHULRU3DUD
VXGHVDFWLYDFLäQJLUHORVVHJXURV
3RUWäQWUDVHUR
SDUDQLâRVKDVWDODSRVLFLäQYHUWLFDO $SHUWXUD
SXHUWDV6WDWLRQ:DJRQ

 $GYHUWHQFLD
8WLOLFHORVVHJXURVSDUDQLâRV
VLHPSUHTXHYLDMHQQLâRVHQORV
DVLHQWRVWUDVHURV

$WHQFLäQ 'HVSXÚVGHOGHVEORTXHRSXOVHHOERಢ
WäQVLWXDGREDMRODPDQLOODRGHEDMR
1RWLUHGHODPDQLOODLQWHULRUGHOD GHODPROGXUDGHOSRUWäQWUDVHUR\
SXHUWDPLHQWUDVHOVHJXURSDUDQLಢ DEUDHOSRUWäQWUDVHUR
âRVHVWÚHQODSRVLFLäQGHEORಢ SXHUWDV
TXHR$OKDFHUHVWRSXHGHGDâDU
ODPDQLOODLQWHULRUGHODSXHUWD
 /ODYHVSXHUWDV\YHQWDQLOODV

8WLOLFHODPDQLOODLQWHULRU
$WHQFLäQ
$OFHUUDUQRSXOVHHOERWäQVLWXDGR
$QWHVGHDEULUHOSRUWäQWUDVHUR GHEDMRGHODPROGXUDRGHEDMRGHOD
FRPSUXHEHVLKD\REVWUXFFLRQHV PDQLOODSDUDHYLWDUTXHHOSRUWäQWUDಢ
SRUDUULEDFRPRXQDSXHUWDGHJDಢ VHURVHYXHOYDDGHVEORTXHDU
UDMHSDUDHYLWDUGDâRVHQHOSRUWäQ
WUDVHUR&RPSUXHEHVLHPSUHOD
]RQDGHPRYLPLHQWRSRUHQFLPD\
GHWUÒVGHOSRUWäQWUDVHUR

1RWD
6LVHPRQWDQGHWHUPLQDGRVDFFHVRಢ
3XOVHHOERWäQIGHOPDQGRDGLVಢ ULRVSHVDGRVHQHOSRUWäQWUDVHUR
WDQFLDKDVWDTXHHOSRUWäQWUDVHURVH SXHGHTXHÚVWHQRVHPDQWHQJDHQ
DEUDRSXOVHHOERWäQVLWXDGRGHEDMR SRVLFLäQDELHUWD
GHODPROGXUDGHOSRUWäQWUDVHURGHVಢ &LHUUH
SXÚVGHGHVEORTXHDUHOYHKÞFXOR

 3HOLJUR
1RFLUFXOHFRQHOSRUWäQWUDVHUR
DELHUWRRHQWUHDELHUWRSHMDO
WUDQVSRUWDUREMHWRVYROXPLQRVRV
\DTXHSRGUÞDQHQWUDUJDVHVGH
HVFDSHWä[LFRVLQRGRURVHLQYLVLಢ
EOHVHQHOYHKÞFXOR3XHGHQRFDಢ
VLRQDUXQGHVYDQHFLPLHQWRHLQಢ
FOXVRODPXHUWH
/ODYHVSXHUWDV\YHQWDQLOODV 

6HJXULGDGGHOYHKÞFXOR ࿢ &RQPDQGRDGLVWDQFLDVHDFWLYD /('GHHVWDGR


GLUHFWDPHQWHSXOVDQGRGHQXHYRC
GHVSXÚVGHOEORTXHRR
6LVWHPDGHDODUPD
࿢ &RQVLVWHPDGHOODYHHOHFWUäQLFD
DQWLUURER VHDFWLYDGLUHFWDPHQWHSXOVDQGRGH
(OVLVWHPDGHDODUPDDQWLUURERFRQಢ QXHYRHOLQWHUUXSWRUHQODPDQLOODGH
WUROD ODSXHUWDGHVSXÚVGHOEORTXHR
࿢ /DVSXHUWDVHOSRUWäQWUDVHUR\HO
FDSä
࿢ (OHQFHQGLGR

$FWLYDFLäQ

(O/('GHHVWDGRHVWÒLQWHJUDGRHQHO
VHQVRUVLWXDGRHQODSDUWHVXSHULRU
GHOWDEOHURGHLQVWUXPHQWRV
(VWDGRGXUDQWHORVSULPHURVVHಢ
JXQGRVGHVGHODDFWLYDFLäQGHOVLVಢ
WHPDGHDODUPDDQWLUURER
/(' FRPSUREDFLäQUHಢ
HQFHQGLGR WDUGRGHDFWLYDFLäQ
(O/(' ODVSXHUWDVHOSRUಢ
SDUSDGHD WäQWUDVHURRHO
UÒSLGDPHQWH FDSäQRHVWÒQELHQ
࿢ 6HDFWLYDDXWRPÒWLFDPHQWHVHಢ FHUUDGRVRDYHUÞD
JXQGRVGHVSXÚVGHEORTXHDUHOYHಢ GHOVLVWHPD
KÞFXOR LQLFLDOL]DFLäQGHOVLVWHPD R
 /ODYHVSXHUWDV\YHQWDQLOODV

(VWDGRGHVSXÚVGHDFWLYDUVHHOVLVಢ ,QPRYLOL]DGRU
WHPD
(OVLVWHPDHVWÒLQWHJUDGRHQODFHUUDಢ
(O/(' HOVLVWHPDHVWÒDFಢ GXUDGHOHQFHQGLGR\FRPSUXHEDVLHO
SDUSDGHD WLYDGR YHKÞFXORSXHGHVHUDUUDQFDGRFRQOD
OHQWDPHQWH OODYHXWLOL]DGD6LHOVLVWHPDUHFRQRFH
(QFDVRGHDYHUÞDUHFXUUDDODD\XGD DOWUDQVSRQGHGRUGHODOODYHVH
GHXQWDOOHU SXHGHDUUDQFDUHOYHKÞFXOR
(OLQPRYLOL]DGRUHOHFWUäQLFRVHDFWLYD
'HVDFWLYDFLäQ DXWRPÒWLFDPHQWHGHVSXÚVGHVDFDU
ODOODYHGHOHQFHQGLGRRGHGHVFRQHFಢ
WDUHOPRWRUSXOVDQGRHOERWäQ6WDUW
6WRS
9HKÞFXORVFRQVLVWHPDGHOODYHHOHFಢ
WUäQLFD3XOVDQGRHOLQWHUUXSWRUHQOD 6LHOWHVWLJRGHFRQWUROGVHHQFLHQGH
PDQLOODGHODSXHUWDVHGHVDFWLYDHO RSDUSDGHDFRQHOHQFHQGLGRFRQHFಢ
VLVWHPDGHDODUPDDQWLUURER WDGRKD\XQDDYHUÞDHQHOVLVWHPDQR
VHSXHGHDUUDQFDUHOPRWRU'HVFRಢ
$ODUPD QHFWHHOHQFHQGLGR\OXHJRUHSLWDHO
/DDODUPDVHSXHGHVLOHQFLDUSXOಢ LQWHQWRGHDUUDQTXH
VDQGRFXDOTXLHUERWäQGHOPDQGRD 6LHOWHVWLJRGHFRQWUROFRQWLQëDHQಢ
GLVWDQFLDRFRQHFWDQGRHOHQFHQGLGR FHQGLGRRSDUSDGHDQGRLQWHQWH
(OVLVWHPDGHDODUPDDQWLUURERVäOR DUUDQFDUHOPRWRUFRQODOODYHGHUHಢ
VHSXHGHGHVDFWLYDUSXOVDQGRHOERಢ SXHVWR\UHFXUUDDODD\XGDGHXQWDಢ
$OGHVEORTXHDUHOYHKÞFXORSXOVDQGR OOHU
HOERWäQARWLUDQGRGHODPDQLOODGH WäQASXOVDQGRHOLQWHUUXSWRUHQXQD
ODSXHUWDVHGHVDFWLYDHOVLVWHPDGH PDQLOODGHODSXHUWD VäORFRQVLVWHPD
DODUPDDQWLUURER GHOODYHHOHFWUäQLFD RFRQHFWDQGRHO
HQFHQGLGR
/ODYHVSXHUWDV\YHQWDQLOODV 

1RWD 5HWURYLVRUHVH[WHULRUHV /XHJREDVFXOHHOPDQGRSDUDDMXVWDU


(OLQPRYLOL]DGRUQREORTXHDODV HOUHWURYLVRU
SXHUWDV'HVSXÚVGHVDOLUGHOYHಢ
KÞFXORVLHPSUHGHEHEORTXHDUOR\
)RUPDFRQYH[D
FRQHFWDUHOVLVWHPDGHDODUPDDQWLಢ (OUHWURYLVRUH[WHULRUFRQYH[RUHGXFH 3OHJDGR
UURER   ORVÒQJXORVPXHUWRV/DIRUPDGHOHVಢ
SHMRKDFHTXHORVREMHWRVSDUH]FDQ
7HVWLJRGHFRQWUROG  PÒVSHTXHâRVORTXHDIHFWDDOD
DSUHFLDFLäQGHODVGLVWDQFLDV

$MXVWHHOÚFWULFR

3DUDODVHJXULGDGGHORVSHDWRQHV
ORVUHWURYLVRUHVH[WHULRUHVEDVFXODQ
GHVXSRVLFLäQGHPRQWDMHQRUPDODO
UHFLELULPSDFWRVGHXQDGHWHUPLQDGD
IXHU]D9XHOYDDFRORFDUHOUHWURYLVRU
HQVXSRVLFLäQSUHVLRQDQGROLJHUDಢ
PHQWHVREUHODFDUFDVD
6HOHFFLRQHHOUHWURYLVRUH[WHULRUFRಢ
UUHVSRQGLHQWHJLUDQGRHOPDQGRDOD
L]TXLHUGD / RDODGHUHFKD 5 (QOD
SRVLFLäQQRKD\VHOHFFLRQDGRQLQಢ
JëQUHWURYLVRU
 /ODYHVSXHUWDV\YHQWDQLOODV

3OHJDGRHOÚFWULFR
 $GYHUWHQFLD 5HWURYLVRULQWHULRU
0DQWHQJDVLHPSUHORVUHWURYLVRಢ $QWLGHVOXPEUDPLHQWR
UHVFRUUHFWDPHQWHDMXVWDGRV\XWLಢ PDQXDO
OÞFHORVGXUDQWHODFRQGXFFLäQSDUD
YHUPHMRUORVREMHWRV\ORVGHPÒV
YHKÞFXORVTXHOHURGHDQ1RFRQಢ
GX]FDFRQDOJXQRGHORVUHWURYLVRಢ
UHVSOHJDGR

5HWURYLVRUHVWÚUPLFRV

*LUHHOPDQGRD\OXHJRSXOVHHO
PDQGRKDFLDDEDMR6HSOHJDUÒQORV
GRVUHWURYLVRUHVH[WHULRUHV
3XOVHGHQXHYRHOPDQGRKDFLD
3DUDUHGXFLUHOGHVOXPEUDPLHQWRDFಢ
DEDMRDPERVUHWURYLVRUHVYROYHUÒQD
FLRQHODSDODQFDTXHKD\GHEDMRGHOD
VXSRVLFLäQRULJLQDO
FDUFDVDGHOHVSHMR
6LXQUHWURYLVRUSOHJDGRHOÚFWULFDಢ
PHQWHVHGHVSOLHJDPDQXDOPHQWHDO
SXOVDUHOPDQGRKDFLDDEDMRVäORVH
GHVSOHJDUÒHOÚFWULFDPHQWHHORWURUHಢ
WURYLVRU 6HFRQHFWDSXOVDQGRHOERWäQ^
/DFDOHIDFFLäQIXQFLRQDFRQHOPRWRU
HQPDUFKD\VHGHVFRQHFWDDXWRPÒಢ
WLFDPHQWHSRFRWLHPSRGHVSXÚV
/ODYHVSXHUWDV\YHQWDQLOODV 

$QWLGHVOXPEUDPLHQWR 9HQWDQLOODV
DXWRPÒWLFR
(OHYDOXQDVHOÚFWULFRV
 $GYHUWHQFLD
7HQJDFXLGDGRDODFFLRQDUORVOHಢ
YDQWDYLGULRVHOÚFWULFRV+D\ULHVJR
GHOHVLRQHVHVSHFLDOPHQWHSDUD
ORVQLâRV
6LKD\QLâRVHQHODVLHQWRWUDVHUR
DFWLYHHOVHJXURSDUDQLâRVGHORV
OHYDQWDYLGULRVHOÚFWULFRV $FFLRQHHOLQWHUUXSWRUGHODYHQWDQLOOD
FRUUHVSRQGLHQWHSXOVHSDUDDEULUR
2EVHUYHDWHQWDPHQWHODVYHQWDQLಢ WLUHSDUDFHUUDU
OODVFXDQGRODVFLHUUH$VHJëUHVH
(OGHVOXPEUDPLHQWRSURGXFLGRSRU GHTXHQDGDTXHGHDWUDSDGR
ORVYHKÞFXORVTXHQRVVLJXHQGHQRಢ )XQFLRQDPLHQWRGHORV
PLHQWUDVVHPXHYHQ
FKHVHUHGXFHDXWRPÒWLFDPHQWH HOHYDOXQDVGHODQWHURVFRQ
/RVHOHYDOXQDVHOÚFWULFRVIXQFLRQDQ IXQFLäQGHVHJXULGDG
3XOVHRWLUHOLJHUDPHQWHKDVWDHOSULಢ
࿢ FRQHOHQFHQGLGRFRQHFWDGR PHUILDGRUODYHQWDQLOODVXEHREDMD
࿢ KDVWDPLQXWRVGHVSXÚVGHGHVಢ PLHQWUDVHVWÚDFFLRQDGRHOLQWHUUXSಢ
FRQHFWDUHOHQFHQGLGR WRU
'HVSXÚVGHGHVFRQHFWDUHOHQFHQಢ 3XOVHRWLUHFRQPÒVIXHU]DKDVWDHO
GLGRVHGHVDFWLYDHODFFLRQDPLHQWR VHJXQGRILDGRU\OXHJRVXHOWHODYHQಢ
GHODVYHQWDQLOODVFXDQGRVHDEUHXQD WDQLOODVXEHREDMDDXWRPÒWLFDPHQWH
SXHUWDGHODQWHUD
 /ODYHVSXHUWDV\YHQWDQLOODV

FRQIXQFLäQGHVHJXULGDG3DUDGHWHಢ $QXODUODIXQFLäQGHVHJXULGDG 6HJXURSDUDQLâRVHQODV


QHUHOPRYLPLHQWRYXHOYDDDFFLRQDU (QFDVRGHGLILFXOWDGHVSDUDFHUUDU YHQWDQLOODVWUDVHUDV
HOLQWHUUXSWRUHQODPLVPDGLUHFFLäQ SRUHVFDUFKDRVLPLODUPDQWHQJDDFಢ
FLRQDGRHOLQWHUUXSWRU/DYHQWDQLOOD
)XQFLRQDPLHQWRGHORV VXEHVLQODIXQFLäQGHVHJXULGDG
HOHYDOXQDVGHODQWHURV\ 3DUDGHWHQHUHOPRYLPLHQWRVXHOWH\
WUDVHURVVLQIXQFLäQGH YXHOYDDDFFLRQDUHOLQWHUUXSWRUXQD
VHJXULGDG YH]PÒVHQODPLVPDGLUHFFLäQ
3XOVHRWLUHOLJHUDPHQWHKDVWDHOSULಢ
PHUILDGRUODYHQWDQLOODVXEHREDMD  $GYHUWHQFLD
PLHQWUDVHVWÚDFFLRQDGRHOLQWHUUXSಢ
WRU /DVSDUWHVGHOFXHUSRTXHVREUHಢ
VDOJDQGHOYHKÞFXORSXHGHQJROಢ
3XOVHFRQPÒVIXHU]DKDVWDHOVHಢ
SHDUVHFRQREMHWRVDOSDVDU0DQಢ
JXQGRILDGRU\OXHJRVXHOWHODYHQWDಢ
WHQJDWRGDVODVSDUWHVGHOFXHUSR
QLOODVHEDMDDXWRPÒWLFDPHQWH3DUD
HQHOLQWHULRUGHOYHKÞFXOR 3XOVHHOLQWHUUXSWRURSDUDGHVDFWLYDU
GHWHQHUHOPRYLPLHQWRYXHOYDDDFಢ
FLRQDUHOLQWHUUXSWRUHQODPLVPDGLಢ ORVHOHYDOXQDVHOÚFWULFRVGHODVSXHUಢ
UHFFLäQ WDVWUDVHUDVHO/('VHLOXPLQD3DUD
DFWLYDUORVSXOVHGHQXHYRR
)XQFLäQGHVHJXULGDG
6LHOFULVWDOGHODYHQWDQLOODHQFXHQWUD 6REUHFDUJD
DOJëQREVWÒFXORHQODPLWDGVXSHULRU 6LVHDFFLRQDQUHSHWLGDPHQWHODV
GHOUHFRUULGRGXUDQWHHOFLHUUHDXWRಢ YHQWDQLOODVDLQWHUYDORVEUHYHVHVSRಢ
PÒWLFRVHGHWHQGUÒLQPHGLDWDPHQWH VLEOHTXHVHGHVDFWLYHHODFFLRQDಢ
\YROYHUÒDDEULUVH PLHQWRGHODVYHQWDQLOODVGXUDQWHDOಢ
JëQWLHPSR
/ODYHVSXHUWDV\YHQWDQLOODV 

,QLFLDOL]DFLäQGHORVHOHYDOXQDV /XQHWDWÚUPLFDWUDVHUD 1RDUDâHRGDâHORVKLORVGHOGHಢ


HOÚFWULFRV VHPSDâDGRUFXDQGROLPSLHRUHDಢ
6LODVYHQWDQLOODVQRVHSXHGHQFHUUDU OLFHFXDOTXLHURWURWLSRGHWUDEDMR
DXWRPÒWLFDPHQWH SHMGHVSXÚVGH HQODOXQHWDWUDVHUD
GHVFRQHFWDUODEDWHUÞDGHOYHKÞFXOR 
DFWLYHODHOHFWUäQLFDGHODVYHQWDQLOODV 3DUDVROHV
GHOVLJXLHQWHPRGR
/RVSDUDVROHVVHSXHGHQDEDWLUR
 &LHUUHODVSXHUWDV EDVFXODUKDFLDXQODGRSDUDHYLWDUHO
 &RQHFWHHOHQFHQGLGR GHVOXPEUDPLHQWR
 &LHUUHODYHQWDQLOODFRPSOHWDಢ 6LORVSDUDVROHVWLHQHQHVSHMRVLQWHಢ
PHQWH\PDQWHQJDHOLQWHUUXSWRU JUDGRVODVWDSDVGHORVHVSHMRVGHಢ
DFFLRQDGRGXUDQWHRWURVVHJXQಢ EHQHVWDUFHUUDGDVGXUDQWHODPDUಢ
GRV FKD
 5HSLWDODRSHUDFLäQSDUDFDGD 6HFRQHFWDSXOVDQGRHOERWäQ^
YHQWDQLOOD /DFDOHIDFFLäQIXQFLRQDFRQHOPRWRU
HQPDUFKD\VHGHVFRQHFWDDXWRPÒಢ
WLFDPHQWHSRFRWLHPSRGHVSXÚV

$WHQFLäQ
1RXWLOLFHLQVWUXPHQWRVDILODGRVR
OLPSLDFULVWDOHVDEUDVLYRVHQODOXಢ
QHWDWUDVHUDGHOYHKÞFXOR
 /ODYHVSXHUWDV\YHQWDQLOODV

7HFKR 3HUVLDQDVRODU
/DSHUVLDQDVRODUVHDFFLRQDPDQXDOಢ
7HFKRVRODU PHQWH
$EUDRFLHUUHODSHUVLDQDVRODUGHVOLಢ
 $GYHUWHQFLD ]ÒQGROD&XDQGRHOWHFKRVRODUHVWÒ
DELHUWRODSHUVLDQDVLHPSUHHVWÒ
7HQJDFXLGDGRDODFFLRQDUHOWHಢ DELHUWD
FKRVRODU+D\ULHVJRGHOHVLRQHV
HVSHFLDOPHQWHSDUDORVQLâRV ,QGLFDFLRQHVJHQHUDOHV
2EVHUYHDWHQWDPHQWHODVSLH]DV )XQFLäQGHVHJXULGDG
PäYLOHVGXUDQWHVXDFFLRQDಢ 6LHOWHFKRVRODUHQFXHQWUDUHVLVWHQಢ
PLHQWR$VHJëUHVHGHTXHQDGD FLDGXUDQWHHOFLHUUHDXWRPÒWLFRVH
TXHGHDWUDSDGRPLHQWUDVVHPXHಢ $EULURFHUUDU GHWLHQHLQPHGLDWDPHQWH\YXHOYHD
YHQ 3XOVHSRUVXDYHPHQWHKDVWDHO DEULUVH
SULPHUILDGRUHOWHFKRVRODUVHDEUHR
(OWHFKRVRODUIXQFLRQD FLHUUDPLHQWUDVHOLQWHUUXSWRUHVWÚDFಢ $QXODUODIXQFLäQGHVHJXULGDG
࿢ FRQHOHQFHQGLGRFRQHFWDGR FLRQDGR (QFDVRGHGLILFXOWDGHVSDUDFHUUDU
࿢ KDVWDPLQXWRVGHVSXÚVGHGHVಢ 3XOVHSRUILUPHPHQWHKDVWDHO SRUHVFDUFKDRVLPLODUPDQWHQJDDFಢ
FRQHFWDUHOHQFHQGLGR VHJXQGRILDGRU\OXHJRVXHOWHHOWHಢ FLRQDGRHOLQWHUUXSWRUUKDVWDHOVHಢ
FKRVRODUVHDEUHRFLHUUDDXWRPÒWLಢ JXQGRILDGRU(OWHFKRVRODUVHFLHUUD
'HVSXÚVGHGHVFRQHFWDUHOHQFHQಢ
FDPHQWHFRQODIXQFLäQGHVHJXULGDG VLQODIXQFLäQGHVHJXULGDG3DUDGHಢ
GLGRVHGHVDFWLYDHODFFLRQDPLHQWR
DFWLYDGD3DUDGHWHQHUHOPRYLಢ WHQHUHOPRYLPLHQWRVXHOWHHOLQWHಢ
GHOWHFKRVRODUFXDQGRVHDEUHXQD
PLHQWRDFFLRQHHOLQWHUUXSWRUXQDYH] UUXSWRU
SXHUWDGHODQWHUD
PÒV

6XELURFHUUDU
3XOVHTRUHOWHFKRVRODUVH
VXEHRVHFLHUUDDXWRPÒWLFDPHQWH
/ODYHVSXHUWDV\YHQWDQLOODV 

,QLFLDOL]DUWUDVXQIDOORGHFRUULHQWH
&XDQGRVHSURGXFHXQIDOORGHFRಢ
UULHQWHSXHGHTXHVäORVHDSRVLEOH
DFFLRQDUHOWHFKRVRODUKDVWDFLHUWR
SXQWR'LUÞMDVHDOWDOOHUSDUDLQLFLDOL]DU
HOVLVWHPD
 $VLHQWRVVLVWHPDVGHVHJXULGDG

$VLHQWRVVLVWHPDVGH 5HSRVDFDEH]DV
VHJXULGDG
3RVLFLäQ

5HSRVDFDEH]DV    $GYHUWHQFLD


$VLHQWRVGHODQWHURV   &RQGX]FDVLHPSUHFRQHOUHSRVDಢ
$VLHQWRVWUDVHURV   FDEH]DVDMXVWDGRHQODSRVLFLäQ
&LQWXURQHVGHVHJXULGDG   FRUUHFWD
6LVWHPDGHDLUEDJV   6LORVUHSRVDFDEH]DVHVWÒQGHVಢ
PRQWDGRVRUHJXODGRVLQFRUUHFWDಢ
6LVWHPDVGHUHWHQFLäQLQIDQWLO   PHQWHVHSXHGHQVXIULUJUDYHVOHಢ (OFHQWURGHOUHSRVDFDEH]DVGHEHUÞD
VLRQHVHQODFDEH]D\HQHOFXHOOR HVWDUDOQLYHOGHORVRMRV6LHVWRQR
HQFDVRGHFROLVLäQ HVSRVLEOHSDUDSHUVRQDVPX\DOWDV
$QWHVGHFRQGXFLUDVHJëUHVHGH VHGHEHDMXVWDUHOUHSRVDFDEH]DVHQ
UHDMXVWDUHOUHSRVDFDEH]DV ODSRVLFLäQPÒVDOWDSDUDSHUVRQDV
GHSRFDHVWDWXUDVHGHEHDMXVWDUHQ
ODSRVLFLäQPÒVEDMD
$VLHQWRVVLVWHPDVGHVHJXULGDG 

5HSRVDFDEH]DVHQORVDVLHQWRV 5HSRVDFDEH]DVHQORVDVLHQWRV $VLHQWRVGHODQWHURV


GHODQWHURV WUDVHURV
$MXVWHGHODDOWXUD $MXVWHGHODDOWXUD
3RVLFLäQGHDVLHQWR
 $GYHUWHQFLD
&RQGX]FDVLHPSUHFRQHODVLHQWR
DMXVWDGRFRUUHFWDPHQWH

7LUHGHOUHSRVDFDEH]DVKDFLDDUULED 7LUHGHOUHSRVDFDEH]DVKDFLDDUULED
3DUDEDMDUORSXOVHHOUHVRUWH\HPಢ 3DUDEDMDUORSXOVHHOUHVRUWH\HPಢ
SXMHHOUHSRVDFDEH]DVKDFLDDEDMR SXMHHOUHSRVDFDEH]DVKDFLDDEDMR

࿢ 6LÚQWHVHORPÒVFHUFDSRVLEOHGHO
UHVSDOGR$MXVWHODGLVWDQFLDGHO
DVLHQWRKDVWDORVSHGDOHVGHPRGR
TXHFRQORVSHGDOHVSLVDGRVODV
 $VLHQWRVVLVWHPDVGHVHJXULGDG

SLHUQDVTXHGHQGREODGDVHQXQOLಢ ࿢ $MXVWHHOUHSRVDFDEH]DV  3RVLFLäQGHODVLHQWR


JHURÒQJXOR'HVOLFHHODVLHQWRGHO ࿢ $MXVWHODDOWXUDGHOFLQWXUäQGHVHಢ
DFRPSDâDQWHKDFLDDWUÒVOR JXULGDG 
PÒ[LPRSRVLEOH
࿢ &RORTXHORVKRPEURVORPÒVFHUFD
SRVLEOHGHOUHVSDOGR$MXVWHODLQFOLಢ $MXVWHGHORVDVLHQWRV
QDFLäQGHOUHVSDOGRGHPRGRTXH
SXHGDFRJHUHOYRODQWHFRQORVEUDಢ  3HOLJUR
]RVOLJHUDPHQWHGREODGRV$OJLUDU
HOYRODQWHGHEHPDQWHQHUHOFRQಢ 3DUDSHUPLWLUXQFRUUHFWRGHVSOLHಢ
WDFWRGHORVKRPEURVFRQHOUHVಢ JXHGHODLUEDJGHEHHVWDUVHQಢ
SDOGR(OUHVSDOGRQRGHEHHVWDU WDGRDPÒVGHFPGHOYRODQWH
GHPDVLDGRLQFOLQDGRKDFLDDWUÒV
/HUHFRPHQGDPRVXQÒQJXORGHLQಢ  $GYHUWHQFLD
FOLQDFLäQPÒ[LPRGH¡ 7LUHGHODVLGHURGHVOLFHHODVLHQWR
࿢ $MXVWHHOYRODQWH  1XQFDDMXVWHORVDVLHQWRVPLHQಢ VXHOWHHODVLGHUR
࿢ $MXVWHODDOWXUDGHODVLHQWRGHPRGR WUDVFRQGXFH\DTXHSRGUÞDQPRಢ
TXHHOFDPSRYLVXDOTXHGHOLEUHKDಢ YHUVHGHIRUPDLQFRQWURODGD
FLDWRGRVORVODGRV\SXHGDYHUWRಢ
GRVORVLQVWUXPHQWRVLQGLFDGRUHV
'HEHUÞDTXHGDUFRPRPÞQLPRXQ
SDOPRGHKROJXUDHQWUHODFDEH]D\
HOUHYHVWLPLHQWRGHOWHFKR/RV
PXVORVGHEHQTXHGDUDSR\DGRVOLಢ
JHUDPHQWHVLQSUHVLäQVREUHHO
DVLHQWR
$VLHQWRVVLVWHPDVGHVHJXULGDG 

5HVSDOGRGHODVLHQWR $OWXUDGHODVLHQWR 1XQFDGHMHHOPDQGRDGLVWDQFLD


HQHOYHKÞFXORFXDQGRDEDQGRQH
HOYHKÞFXOR+D\ULHVJRGHOHVLRಢ
QHVSDUDODVSHUVRQDVVLQVXSHUಢ
YLVLäQHQFDVRGHDMXVWHGHORV
DVLHQWRVHOÚFWULFRV
2EVHUYHDWHQWDPHQWHORVDVLHQWRV
FXDQGRORVDMXVWH,QIRUPHDGHಢ
FXDGDPHQWHDORVRFXSDQWHVGHO
YHKÞFXOR

7LUHGHODSDODQFDDMXVWHODLQFOLQDಢ 0RYLPLHQWRGHERPEHRGHODSDODQFD
FLäQ\VXHOWHODSDODQFD'HMHTXHHO KDFLDDUULED DVLHQWRPÒVDOWR
DVLHQWRHQFODYHDXGLEOHPHQWH KDFLDDEDMR DVLHQWRPÒVEDMR

$MXVWHGHODVLHQWRHOÚFWULFR
 $GYHUWHQFLD
'HEHWHQHUFXLGDGRDODFFLRQDUORV
DVLHQWRVHOÚFWULFRV+D\ULHVJRGH 3RVLFLäQGHODVLHQWR
OHVLRQHVHVSHFLDOPHQWHSDUDORV
0XHYDHOLQWHUUXSWRUKDFLDGHODQWH
QLâRV3RGUÞDQTXHGDUREMHWRV
KDFLDDWUÒV
DWUDSDGRV
 $VLHQWRVVLVWHPDVGHVHJXULGDG

$OWXUDGHODVLHQWR 6REUHFDUJD 3UHVLRQHODSDODQFDSDUDGHVOL]DUHO


0XHYDHOLQWHUUXSWRUKDFLDDUULEDKDಢ 6LKD\XQDVREUHFDUJDHOÚFWULFDGHO UHSRVDEUD]RV
FLDDEDMRHQODSDUWHWUDVHUD DMXVWHGHODVLHQWRVHFRUWDDXWRPÒWLಢ
FDPHQWHODDOLPHQWDFLäQHOÚFWULFDGXಢ
,QFOLQDFLäQGHODVLHQWR UDQWHXQEUHYHSHULRGRGHWLHPSR
0XHYDHOLQWHUUXSWRUKDFLDDUULEDKDಢ
FLDDEDMRHQODSDUWHGHODQWHUD 5HSRVDEUD]RV
5HVSDOGRGHODVLHQWR 5HSRVDEUD]RVHQWUHORV
DVLHQWRVGHODQWHURV
3XOVHHOERWäQ\OHYDQWHHOUHSRVDಢ
EUD]RV(OUHSRVDEUD]RVFRQWLHQHXQ
FRPSDUWLPHQWRSRUWDREMHWRV

$MXVWHKRUL]RQWDO

7LUHGHODSDODQFDDMXVWHODLQFOLQDಢ
FLäQ\VXHOWHODSDODQFD'HMHTXHHO
DVLHQWRHQFODYHDXGLEOHPHQWH
1RVHDSR\HHQHOUHVSDOGRPLHQWUDV
ORDMXVWD
$VLHQWRVVLVWHPDVGHVHJXULGDG 

$VLHQWRVWUDVHURV OÞTXLGRVGHUUDPDGRVSXHGHQGDಢ &LQWXURQHVGH


âDUHOHTXLSDPLHQWRLQWHULRU\ORV VHJXULGDG
5HSRVDEUD]RV FRPSRQHQWHVHOÚFWULFRV
1RFRORTXHREMHWRVGLVWLQWRVGH 5HFRUGDWRULRGHOFLQWXUäQGHVHJXULಢ
YDVRVRODWDVHQHOSRUWDYDVRV'Lಢ GDGGHODVLHQWRGHOFRQGXFWRUWHVWLJR
FKRVREMHWRVSXHGHQVDOLUSUR\HFಢ GHFRQWUROGHOFLQWXUäQGHVHJXULGDG
WDGRVHQFDVRGHXQIUHQD]R 7 
EUXVFRRXQDFFLGHQWHFRQULHVJR
GHOHVLRQHVSDUDORVRFXSDQWHVGHO
YHKÞFXOR

%DMHHOUHSRVDEUD]RVWLUDQGRGHODFRಢ
UUHD(OUHSRVDEUD]RVDEDWLGRFRQಢ
WLHQHXQSRUWDYDVRV

 $GYHUWHQFLD $ODFHOHUDURIUHQDUEUXVFDPHQWHHO
YHKÞFXORORVFLQWXURQHVVHEORTXHDQ
7HQJDFXLGDGRFXDQGRXVHORV SDUDSURWHJHUDORVRFXSDQWHV
SRUWDYDVRV6LVHGHUUDPDXQDEHಢ
ELGDPX\FDOLHQWHSXHGHRFDVLRಢ
QDUOHVLRQHVDORVRFXSDQWHV/RV
 $VLHQWRVVLVWHPDVGHVHJXULGDG

ERUGHVDILODGRV(YLWHTXHHQWUHVXಢ (QFDVRGHFROLVLRQHVIURQWDOHV\WUDಢ
 $GYHUWHQFLD FLHGDGHQORVUHWUDFWRUHVGHORVFLQಢ VHUDVDSDUWLUGHXQDGHWHUPLQDGD
WXURQHV JUDYHGDGVHWHQVDQORVFLQWXURQHV
$EUäFKHVHHOFLQWXUäQGHVHJXULಢ GHVHJXULGDGGHODQWHURV
GDGDQWHVGHFDGDYLDMH /LPLWDGRUHVGHIXHU]DGHORV
(QFDVRGHXQDFFLGHQWHODVSHUಢ FLQWXURQHV  $GYHUWHQFLD
VRQDVTXHQRXVDQORVFLQWXURQHV (QORVDVLHQWRVGHODQWHURVHVWHGLVಢ
GHVHJXULGDGSRQHQHQSHOLJURVXV SRVLWLYRUHGXFHODIXHU]DVREUHHO /DPDQLSXODFLäQLQFRUUHFWD SRU
YLGDV\ODVGHORVGHPÒVRFXSDQಢ FXHUSRDOGHVEORTXHDUGHIRUPD HMHPSORGXUDQWHHOGHVPRQWDMHR
WHV DPRUWLJXDGDHOFLQWXUäQGXUDQWHXQD PRQWDMHGHORVFLQWXURQHVRGHORV
FROLVLäQ FLHUUHV SXHGHSURYRFDUODDFWLYDಢ
/RVFLQWXURQHVHVWÒQGLVHâDGRVSDUD FLäQGHORVSUHWHQVRUHVFRQHOFRQಢ
VHUXWLOL]DGRVSRUXQDVRODSHUVRQDDO 3UHWHQVRUHVGHFLQWXURQHV VLJXLHQWHULHVJRGHOHVLRQHV
PLVPRWLHPSR1RVRQDGHFXDGRV
SDUDSHUVRQDVPHQRUHVGHDâRVR /DDFWLYDFLäQGHORVSUHWHQVRUHVVH
GHHVWDWXUDLQIHULRUDFP LQGLFDPHGLDQWHODLOXPLQDFLäQGHO
&RPSUXHEHSHULäGLFDPHQWHTXHWRಢ WHVWLJRGHFRQWUROT 
GDVODVSLH]DVGHOVLVWHPDGHFLQWXಢ /RVSUHWHQVRUHVGHFLQWXURQHVDFWLಢ
URQHVIXQFLRQDQELHQ\QRSUHVHQWDQ YDGRVGHEHQVXVWLWXLUVHHQXQWDOOHU
GDâRVQLFRQWDPLQDFLäQ /RVSUHWHQVRUHVVHDFWLYDQVäORXQD
+DJDVXVWLWXLUFXDOTXLHUFRPSRQHQWH YH]
GDâDGR'HVSXÚVGHXQDFFLGHQWH 1RWD
KDJDVXVWLWXLUORVFLQWXURQHV\ORVSUHಢ 1RHVWÒSHUPLWLGRPRQWDUDFFHVRಢ
WHQVRUHVGLVSDUDGRVHQXQWDOOHU ULRVQLFRORFDUREMHWRVTXHSXHGDQ
1RWD PHQRVFDEDUHOIXQFLRQDPLHQWRGH
3URFXUHTXHORVFLQWXURQHVQRTXHಢ ORVSUHWHQVRUHVGHFLQWXURQHV1R
GHQDWUDSDGRVQLVXIUDQGDâRVFDXಢ
VDGRVSRUHOFDO]DGRXREMHWRVFRQ
$VLHQWRVVLVWHPDVGHVHJXULGDG 

UHDOLFHPRGLILFDFLRQHVHQORVFRPಢ $MXVWHGHODDOWXUD
SRQHQWHVGHORVSUHWHQVRUHVGHFLQಢ
WXURQHVSRUTXHVHSRGUÞDDQXODUHO
SHUPLVRGHFLUFXODFLäQGHOYHKÞFXOR
&LQWXUäQGHVHJXULGDGGH
WUHVSXQWRV
$EURFKDUVHHOFLQWXUäQ

/DURSDVXHOWDRPX\JUXHVDLPSLGH
TXHHOFLQWXUäQVHDMXVWHDOFXHUSR
1RFRORTXHQLQJëQREMHWRFRPRXQ  ([WUDLJDXQSRFRHOFLQWXUäQ
EROVRRXQWHOÚIRQRPäYLOHQWUHHOFLQಢ  3XOVHHOERWäQ
WXUäQ\HOFXHUSR  $MXVWHODDOWXUD\HQFODYH

 $GYHUWHQFLD
(OFLQWXUäQQRGHEHDSR\DUVHVRಢ
EUHREMHWRVGXURVRIUÒJLOHVJXDUಢ
([WUDLJDHOFLQWXUäQGHOUHWUDFWRU GDGRVHQORVEROVLOORVGHODURSD
JXÞHORSRUHQFLPDGHOFXHUSRVLQUHಢ
WRUFHUOR\HQFODYHODOHQJíHWDHQHO
FLHUUH'XUDQWHHOYLDMHWHQVHIUHಢ
FXHQWHPHQWHHOFLQWXUäQDEGRPLQDOWLಢ
UDQGRVXDYHPHQWHGHODEDQGDWRUÒಢ
FLFD
 $VLHQWRVVLVWHPDVGHVHJXULGDG

'HVPRQWDMH 8VRGHOFLQWXUäQGHVHJXULGDG
GXUDQWHHOHPEDUD]R

$MXVWHODDOWXUDGHPRGRTXHHOFLQWXಢ
UäQSDVHSRUHOKRPEUR1RGHEHSDಢ
VDUSRUHOFXHOORRODSDUWHVXSHULRUGHO 3DUDVROWDUHOFLQWXUäQSXOVHHOERWäQ
EUD]R URMRGHOFLHUUH
 $GYHUWHQFLD
1RORDMXVWHPLHQWUDVFRQGXFH
&LQWXURQHVGHVHJXULGDGHQORV
(OFLQWXUäQDEGRPLQDOGHEHSDVDU
DVLHQWRVWUDVHURV ORPÒVEDMRSRVLEOHVREUHODSHOYLV
(OFLQWXUäQGHVHJXULGDGGHWUHVSXQಢ SDUDHYLWDUODSUHVLäQVREUHHODEಢ
WRVGHODVLHQWRFHQWUDOVäORVHSXHGH GRPHQ
H[WUDHUGHOUHWUDFWRUVLHOUHVSDOGR
HVWÒHQODSRVLFLäQPÒVDWUDVDGD
$VLHQWRVVLVWHPDVGHVHJXULGDG 

&LQWXUäQDEGRPLQDO 6LVWHPDGHDLUEDJV GHVXIULUOHVLRQHVJUDYHVRIDWDOHV


HQFDVRGHFKRTXH1RVHFRORTXH
&LQWXUäQDEGRPLQDOHQHO (OVLVWHPDGHDLUEDJVVHFRPSRQHGH LQQHFHVDULDPHQWHFHUFDGHXQDLUಢ
DVLHQWRFHQWUDOWUDVHUR YDULRVVLVWHPDVLQGLYLGXDOHV EDJFXDQGRHOYHKÞFXORHVWÒHQ
(OFLQWXUäQGHVHJXULGDGSDUDHO &XDQGRVHDFWLYDQORVDLUEDJVVHLQಢ PDUFKD
DVLHQWRFHQWUDOWUDVHURHVXQFLQWXUäQ IODQHQPLOLVHJXQGRV7DPELÚQVH $OGHVSOHJDUVHHODLUEDJSRGUÞD
DEGRPLQDO3DUDDMXVWDUVXORQJLWXG GHVLQIODQWDQUÒSLGDPHQWHTXHDPHಢ FDXVDUHURVLRQHVHQODFDUDRHO
SXOVHHQODSDUWHVXSHULRUGHODWDSD QXGRQRVHOOHJDQDSHUFLELUGXUDQWH FXHUSROHVLRQHVSRUURWXUDGHJDಢ
GHODOHQJíHWD\DSULHWHRDIORMHHOFLQಢ ODFROLVLäQ IDVRTXHPDGXUDVSRUODH[SORಢ
WXUäQ VLäQ
 $GYHUWHQFLD
1RWD
6LVHPDQLSXODQLQGHELGDPHQWH /DXQLGDGHOHFWUäQLFDGHFRQWUROGHO
ORVDLUEDJVSXHGHQGLVSDUDUVH VLVWHPDGHDLUEDJV\GHORVSUHWHQಢ
VRUHVGHFLQWXURQHVHVWÒVLWXDGDHQ
(OFRQGXFWRUGHEHUÞDVHQWDUVHOR
OD]RQDGHODFRQVRODFHQWUDO1RVH
PÒVSHJDGRDOUHVSDOGRTXHVHD
GHEHQGHSRVLWDUREMHWRVPDJQÚWLFRV
SRVLEOHVLQSHUGHUHOFRQWUROGHO
HQGLFKD]RQD
YHKÞFXOR6LHVWÒVHQWDGRGHPDಢ
VLDGRFHUFDGHODLUEDJHVWHSRGUÞD 1RSHJXHQDGDHQODVWDSDVGHORV
SURGXFLUOHVLRQHVJUDYHVRIDWDOHV DLUEDJVQLORVFXEUDFRQQLQJëQRWUR
DOLQIODUVH PDWHULDO
3DUDREWHQHUODPÒ[LPDSURWHFಢ &DGDDLUEDJVHDFWLYDXQDYH]VRODಢ
FLäQHQFXDOTXLHUWLSRGHFKRTXH PHQWH+DJDFDPELDUORVDLUEDJVDFಢ
WRGRVORVRFXSDQWHVLQFOXLGRHO WLYDGRVHQXQWDOOHU
FRQGXFWRUGHEHUÒQOOHYDUVLHPSUH 1RUHDOLFHPRGLILFDFLRQHVHQHOVLVಢ
DEURFKDGRVORVFLQWXURQHVGHVHಢ WHPDGHDLUEDJVSRUTXHVHSRGUÞD
JXULGDGDILQGHPLQLPL]DUHOULHVJR DQXODUHOSHUPLVRGHFLUFXODFLäQGHO
YHKÞFXOR
 $VLHQWRVVLVWHPDVGHVHJXULGDG

$FXGDDXQWDOOHUSDUDHOGHVPRQWDMH
GHOYRODQWHGHOWDEOHURGHLQVWUXಢ $WHQFLäQ
PHQWRVGHORVUHYHVWLPLHQWRVODV
MXQWDVGHODVSXHUWDVORVDVLGHURV\ 6LHOYHKÞFXORVXIUHXQIXHUWHLPಢ
ORVDVLHQWRV SDFWRHQEDGHQHVRSRUREMHWRVHQ
FDUUHWHUDVVLQDVIDOWDURDFHUDVVH
&XDQGRVHGHVSOLHJDXQDLUEDJVH SXHGHLQIODUHODLUEDJ3DUDHYLWDU
SXHGHSURGXFLUXQIXHUWHUXLGR\ XQGHVSOLHJXHDFFLGHQWDOGHODLUಢ
KXPR(VWRHVQRUPDO\QRUHVXOWD EDJFRQGX]FDGHVSDFLRVREUHVXಢ
SHOLJURVRVSHURHQDOJXQRVFDVRV SHUILFLHVQRGLVHâDGDVSDUDODFLUಢ
SXHGHLUULWDUODSLHOGHORFXSDQWH6LOD FXODFLäQGHYHKÞFXORV
LUULWDFLäQFRQWLQëDFRQVXOWHDXQPÚಢ
GLFR 7HVWLJRGHFRQWUROTGHOVLVWHPDGH
DLUEDJV  6HDPRUWLJXDHOPRYLPLHQWRKDFLDGHಢ
 $GYHUWHQFLD ODQWHGHORVRFXSDQWHVGHORVDVLHQಢ
6LVWHPDGHDLUEDJV WRVGHODQWHURVUHGXFLÚQGRVHFRQVLಢ
1XQFDGHMHTXHYLDMHQQLâRVPXಢ GHUDEOHPHQWHHOULHVJRGHOHVLRQHV
MHUHVHPEDUD]DGDVRSHUVRQDV IURQWDOHV HQODSDUWHVXSHULRUGHOFXHUSR\OD
PD\RUHV\GÚELOHVHQHODVLHQWR (OVLVWHPDGHDLUEDJVIURQWDOHVVH FDEH]D
GHODFRPSDâDQWHHTXLSDGRFRQ FRPSRQHGHXQDLUEDJHQHOYRODQWH\
DLUEDJV$VLPLVPRQRFLUFXOHFRQ XQRHQHOWDEOHURGHLQVWUXPHQWRVHQ  $GYHUWHQFLD
XQDVLHQWRLQIDQWLOPRQWDGRHQHO HOODGRGHODFRPSDâDQWH6HSXHGHQ
PLVPR(QFDVRGHDFFLGHQWHHO LGHQWLILFDUSRUHOUäWXOR$,5%$* 6äORVHREWLHQHXQDSURWHFFLäQ
LPSDFWRGHODLUEDJLQIODGRSRGUÞD äSWLPDFXDQGRHODVLHQWRHVWÒHQ
FDXVDUGDâRVIDFLDOHVROHVLRQHV (OVLVWHPDGHDLUEDJVGHODQWHURVH
DFWLYDHQFDVRGHFKRTXHGHXQDGHಢ ODSRVLFLäQFRUUHFWD 
IDWDOHV
WHUPLQDGDJUDYHGDG(OHQFHQGLGR 1RGHEHKDEHUREVWÒFXORVHQOD
GHEHHVWDUFRQHFWDGR ]RQDGHLQIODGRGHORVDLUEDJV
$VLHQWRVVLVWHPDVGHVHJXULGDG 

/OHYHHOFLQWXUäQGHVHJXULGDG  $GYHUWHQFLD
DEURFKDGRFRUUHFWDPHQWH6äOR
DVÞSRGUÒSURWHJHUOHHODLUEDJ /RVQLâRVVHQWDGRVPX\SUä[LPRV
DORVDLUEDJVODWHUDOHVFRUUHQHO
6LVWHPDGHDLUEDJV ULHVJRGHVXIULUOHVLRQHVJUDYHVR
LQFOXVRIDWDOHVVLHODLUEDJVHGHVಢ
ODWHUDOHV SOLHJDHVSHFLDOPHQWHVLODFDಢ
EH]DHOFXHOORRHOSHFKRGHOQLâR
HVWÒQSUä[LPRVDODLUEDJHQHOPRಢ
PHQWRGHOGHVSOLHJXH
1XQFDGHMHTXHHOQLâRVHDSR\H
HQODSXHUWDRFHUFDGHOPäGXORGHO
6HUHGXFHFRQVLGHUDEOHPHQWHHO DLUEDJODWHUDO
ULHVJRGHOHVLRQHVHQODSDUWHVXSHಢ
ULRUGHOFXHUSR\ODSHOYLVHQFDVRGH
XQFKRTXHODWHUDO

 $GYHUWHQFLD
1RGHEHKDEHUREVWÒFXORVHQOD
(OVLVWHPDGHDLUEDJVODWHUDOHVVH
]RQDGHLQIODGRGHORVDLUEDJV
FRPSRQHGHXQDLUEDJHQFDGDUHVಢ
SDOGRGHORVDVLHQWRVGHODQWHURV6H
1RWD
SXHGHQLGHQWLILFDUSRUHOUäWXOR
6äORGHEHQXWLOL]DUVHIXQGDVGH
$,5%$*
DVLHQWRVKRPRORJDGDVSDUDVXYHಢ
(OVLVWHPDGHDLUEDJVODWHUDOHVVHDFಢ KÞFXOR7HQJDFXLGDGRGHQRWDSDU
WLYDHQFDVRGHFKRTXHGHXQDGHWHUಢ ORVDLUEDJV
PLQDGDJUDYHGDG(OHQFHQGLGRGHEH
HVWDUFRQHFWDGR
 $VLHQWRVVLVWHPDVGHVHJXULGDG

6LVWHPDGHDLUEDJVGH  $GYHUWHQFLD
FRUWLQD
1RGHEHKDEHUREVWÒFXORVHQOD
]RQDGHLQIODGRGHORVDLUEDJV
/RVJDQFKRVHQORVDVLGHURVGHO
PDUFRGHOWHFKRVäORGHEHQXWLOLಢ
]DUVHSDUDFROJDUSUHQGDVGHYHVಢ
WLUOLJHUDVVLQSHUFKDV1RGHEHQ
JXDUGDUVHREMHWRVHQHVWDVSUHQಢ
GDVGHYHVWLU

'HVDFWLYDFLäQGHORV (OVLVWHPDGHDLUEDJGHODFRPSDಢ
DLUEDJV âDQWHVHSXHGHGHVDFWLYDUPHGLDQWH
'HEHQGHVDFWLYDUVHORVVLVWHPDVGH XQDFHUUDGXUDHQHOODGRGHOWDEOHUR
(OVLVWHPDGHDLUEDJVGHFRUWLQDVH DLUEDJIURQWDO\ODWHUDOSDUDHODVLHQWR GHLQVWUXPHQWRVYLVLEOHFRQODSXHUWD
FRPSRQHGHXQDLUEDJHQHOPDUFR GHODFRPSDâDQWHVLVHYDDPRQWDUXQ GHODFRPSDâDQWHDELHUWD
GHOWHFKRDFDGDODGR6HSXHGHQ VLVWHPDGHUHWHQFLäQLQIDQWLOHQGLFKR
LGHQWLILFDUSRUHOUäWXOR$,5%$*HQORV DVLHQWR(OVLVWHPDGHDLUEDJVGHFRUಢ  $GYHUWHQFLD
SLODUHVGHOWHFKR WLQDORVSUHWHQVRUHVGHFLQWXURQHV\
(OVLVWHPDGHDLUEDJVGHFRUWLQDVH WRGRVORVVLVWHPDVGHDLUEDJGHOFRQಢ 'HVDFWLYHHOVLVWHPDGHDLUEDJGHO
DFWLYDHQFDVRGHFKRTXHGHXQDGHಢ GXFWRUSHUPDQHFHUÒQDFWLYDGRV DFRPSDâDQWHFXDQGRHODVLHQWR
WHUPLQDGDJUDYHGDG(OHQFHQGLGR GHODFRPSDâDQWHHVWÚRFXSDGR
GHEHHVWDUFRQHFWDGR SRUXQQLâR
6HUHGXFHFRQVLGHUDEOHPHQWHHO $FWLYHHOVLVWHPDGHDLUEDJGHO
ULHVJRGHOHVLRQHVHQODFDEH]DHQ DFRPSDâDQWHFXDQGRHODVLHQWR
FDVRGHXQLPSDFWRODWHUDO GHODFRPSDâDQWHHVWÚRFXSDGR
SRUXQDGXOWR
$VLHQWRVVLVWHPDVGHVHJXULGDG 

8WLOLFHODOODYHGHOHQFHQGLGRSDUDVHಢ 6LVWHPDVGHUHWHQFLäQ
OHFFLRQDUODSRVLFLäQ
:GHVFRQHFWDU ORVDLUEDJVGHO
LQIDQWLO
DFRPSDâDQWHHVಢ
WÒQGHVDFWLYDGRV /HUHFRPHQGDPRVHOVLVWHPDGHUHಢ
\QRVHLQIODUÒQHQ WHQFLäQLQIDQWLO*0DGDSWDGRHVSHಢ
FDVRGHFROLVLäQ FÞILFDPHQWHDOYHKÞFXOR
6HHQFLHQGHHO &XDQGRXWLOLFHXQVLVWHPDGHUHWHQಢ
WHVWLJRGHFRQWURO FLäQLQIDQWLOSUHVWHDWHQFLäQDODVVLಢ
:GHVFRQHFWDUGH JXLHQWHVLQVWUXFFLRQHVGHXVR\PRQಢ
IRUPDSHUPDಢ WDMHDVÞFRPRDODVLQVWUXFFLRQHVVXಢ
QHQWH6HSXHGH PLQLVWUDGDVFRQHOVLVWHPDGHUHWHQಢ
PRQWDUXQVLVಢ (QFDVRGHFROLVLäQORVVLVWHPDVGH FLäQLQIDQWLO
WHPDGHUHWHQFLäQ DLUEDJSDUDHODVLHQWRGHODFRPSDಢ 6LHPSUHGHEHQFXPSOLUVHODVQRUPDV
LQIDQWLO âDQWHVHLQIODUÒQVLHPSUHTXHHOWHVಢ ORFDOHVRQDFLRQDOHV(QDOJXQRVSDÞಢ
GHDFXHUGR WLJRGHFRQWURO:GHVFRQHFWDUQRHVWÚ VHVHVWÒSURKLELGRHOXVRGHVLVWHPDV
FRQHOFXDಢ HQFHQGLGR GHUHWHQFLäQLQIDQWLOHQGHWHUPLQDGDV
GUR3RVLFLRQHVGH SOD]DVGHDVLHQWR
PRQWDMHGHO &DPELHHOHVWDGRVäORFRQHOYHKÞFXOR
VLVWHPDGH SDUDGR\HOHQFHQGLGRGHVFRQHFWDGR
UHWHQFLäQLQIDQWLO (OHVWDGRVHPDQWLHQHKDVWDHOSUäಢ
 [LPRFDPELR
9FRQHFWDGR ORVDLUEDJVGHO 7HVWLJRGHFRQWUROGHGHVDFWLYDFLäQ
DFRPSDâDQWHHVಢ GHODLUEDJ 
WÒQDFWLYDGRV1R
VHSXHGHQPRQWDU
VLVWHPDVGHUHಢ
WHQFLäQLQIDQWLO
 $VLHQWRVVLVWHPDVGHVHJXULGDG

EDJSDUDHODVLHQWRGHODFRPSDಢ 6HOHFFLäQGHOVLVWHPDFRUUHFWR
âDQWHGHEHQHVWDUGHVDFWLYDGRV /RVDVLHQWRVWUDVHURVVRQHOOXJDU
HQFDVRFRQWUDULRHOGHVSOLHJXH PÒVDGHFXDGRSDUDILMDUXQVLVWHPD
GHORVDLUEDJVVXSRQHXQSHOLJUR GHUHWHQFLäQLQIDQWLO
GHPXHUWHSDUDHOQLâR 6LHPSUHTXHVHDSRVLEOHORVQLâRV
(VWRHVDSOLFDEOHHVSHFLDOPHQWHVL GHEHUÞDQYLDMDUPLUDQGRKDFLDDWUÒV
VHXVDQVLVWHPDVGHUHWHQFLäQLQಢ HQHOYHKÞFXOR(VFRQYHQLHQWHFDPಢ
IDQWLORULHQWDGRVKDFLDDWUÒVHQHO ELDUHOVLVWHPDFXDQGRODFDEH]DGHO
DVLHQWRGHODFRPSDâDQWH QLâR\DQRSXHGDDSR\DUVHFRUUHFWDಢ
PHQWHDODDOWXUDGHORVRMRV$VÞVH
JDUDQWL]DTXHODFROXPQDYHUWHEUDO
 $GYHUWHQFLD GHOQLâRTXHDëQHVPX\GÚELOVXIUD
PHQRVWHQVLäQHQFDVRGHDFFLGHQWH
 $GYHUWHQFLD 6LHOYHKÞFXORHVWÒHTXLSDGRFRQ
/RVQLâRVPHQRUHVGHDâRVRFRQ
XQFLQWXUäQDEGRPLQDOHQHO
181&$XWLOLFHXQVLVWHPDGHUHಢ XQDDOWXUDLQIHULRUDFPVäORGHಢ
DVLHQWRFHQWUDOWUDVHURQRVHGHEH
WHQFLäQLQIDQWLOFRORFDGRKDFLD EHUÞDQYLDMDUHQXQDVLHQWRGHVHJXಢ
PRQWDUQLQJëQVLVWHPDGHUHWHQಢ
DWUÒVHQXQDVLHQWRSURWHJLGRSRU ULGDGLQIDQWLODGHFXDGR
FLäQLQIDQWLOHQGLFKRDVLHQWR
XQ$,5%$*$&7,92VLWXDGRGHಢ &RPSUXHEHODREOLJDWRULHGDGGHOXVR
6HDFRQVHMDPRQWDUHOVLVWHPDGH
ODQWHGHOPLVPR\DTXHSRGUÞD GHVLVWHPDVGHUHWHQFLäQLQIDQWLOVHಢ
UHWHQFLäQLQIDQWLOëQLFDPHQWHHQ
RFDVLRQDU/(6,21(6*5$9(6R JëQODVOH\HV\ORVUHJODPHQWRVORFDಢ
XQRGHORVDVLHQWRVH[WHULRUHVWUDಢ
SHOLJURGH08(57(DO1,Â2 OHV
VHURVGHODVHJXQGDILODGHDVLHQಢ
WRV 1XQFDGHEHOOHYDUXQQLâRHQEUD]RV
FXDQGRYLDMHHQHOYHKÞFXOR(QFDVR
 $GYHUWHQFLD GHFROLVLäQQRSRGUÒVXMHWDUDOQLâR
'HVDFWLYDFLäQGHORVDLUEDJV 
HQVXVEUD]RV
&XDQGRVHXWLOLFHXQVLVWHPDGH
UHWHQFLäQLQIDQWLOHQHODVLHQWRGHO &XDQGROOHYHQLâRVXVHORVVLVWHPDV
DFRPSDâDQWHORVVLVWHPDVGHDLUಢ GHUHWHQFLäQLQIDQWLODGHFXDGRVVHಢ
JëQVXSHVR
$VLHQWRVVLVWHPDVGHVHJXULGDG 

$VHJëUHVHGHTXHHOVLVWHPDGHUHಢ SDUDVXHGDG\DVHJëUHVHGHTXHHO
WHQFLäQLQIDQWLOTXHVHYDDPRQWDU QLâRORXWLOLFH9HDODVLQVWUXFFLRQHV
VHDFRPSDWLEOHFRQHOWLSRGHYHಢ UHOHYDQWHVGHORVVLVWHPDVGHUHWHQಢ
KÞFXOR FLäQLQIDQWLO
$VHJëUHVHGHTXHODSRVLFLäQGH
PRQWDMHGHOVLVWHPDGHUHWHQFLäQLQಢ
IDQWLOHQHOYHKÞFXORVHDFRUUHFWD
/RVQLâRVVäORGHEHQHQWUDU\VDOLUGHO
YHKÞFXORSRUHOODGRRSXHVWRDOGHO
WUÒILFR
&XDQGRQRVHXVHHOVLVWHPDGHUHಢ
WHQFLäQLQIDQWLODVHJëUHORFRQXQFLQಢ
WXUäQGHVHJXULGDGRGHVPäQWHORGHO
YHKÞFXOR
1RWD
1RSHJXHQDGDHQORVVLVWHPDVGH
UHWHQFLäQLQIDQWLOQLORVWDSHFRQQLQಢ
JëQRWURPDWHULDO
8QVLVWHPDGHUHWHQFLäQLQIDQWLOTXH
KD\DVLGRVRPHWLGRDWHQVLäQHQXQ
DFFLGHQWHGHEHVXVWLWXLUVH
$VHJëUHVHGHTXHORVQLâRVYD\DQ
VHQWDGRVHQORVDVLHQWRVWUDVHURV
FRQVLVWHPDVGHUHWHQFLäQLQIDQWLO
+DVWDTXHORVQLâRVSXHGDQXVDU
FLQWXURQHVGHVHJXULGDGVHOHFFLRQH
XQVLVWHPDGHUHWHQFLäQDGHFXDGR
 $VLHQWRVVLVWHPDVGHVHJXULGDG

3RVLFLRQHVGHPRQWDMHGHOVLVWHPDGHUHWHQFLäQLQIDQWLO
2SFLRQHVSHUPLWLGDVSDUDHOPRQWDMHGHXQVLVWHPDGHUHWHQFLäQLQIDQWLO

(QHODVLHQWRGHODFRPSDâDQWH (QORVDVLHQWRVH[WHULRUHV (QHODVLHQWRFHQWUDO


1LYHOGHSHVRRGHHGDG DLUEDJDFWLYDGR DLUEDJGHVDFWLYDGR WUDVHURV WUDVHUR
*UXSRKDVWDNJ ; 8 8 8
RPHVHVDSUR[
*UXSRKDVWDNJ ; 8 8 8
RDâRVDSUR[
*UXSR,GHDNJ ; 8 8 8
RGHPHVHVDDâRVDSUR[
*UXSR,,GHDNJ ; ; 8 8
RGHDDâRVDSUR[
*UXSR,,,GHDNJ ; ; 8 8
RGHDDâRVDSUR[

 6äORVLORVVLVWHPDVGHDLUEDJGHODVLHQWRGHODFRPSDâDQWHHVWÒQGHVDFWLYDGRV6LHOVLVWHPDGHUHWHQFLäQLQIDQWLO
VHILMDFRQXQFLQWXUäQGHVHJXULGDGGHWUHVSXQWRVDMXVWHODDOWXUDGHODVLHQWRHQODSRVLFLäQPÒVHOHYDGD\DVHJëUHVH
GHTXHHOFLQWXUäQGHVHJXULGDGGHOYHKÞFXORVDOJDKDFLDGHODQWHGHVGHHOSXQWRGHDQFODMHVXSHULRU
 $VLHQWRGLVSRQLEOHFRQVRSRUWHVGHPRQWDMH,62),;\DQFODMHVXSHULRU
8 $GHFXDGRSDUDXVRXQLYHUVDOHQFRPELQDFLäQFRQXQFLQWXUäQGHVHJXULGDGGHWUHVSXQWRV
; 1RVHSHUPLWHQVLVWHPDVGHUHWHQFLäQLQIDQWLOHQHVWDFODVHGHSHVR
$VLHQWRVVLVWHPDVGHVHJXULGDG 

2SFLRQHVSHUPLWLGDVSDUDHOPRQWDMHGHXQVLVWHPDGHUHWHQFLäQLQIDQWLO,62),;
(QHODVLHQWRGHO (QORVDVLHQWRV (QHODVLHQWR
&ODVHGHSHVR &ODVHGHWDPDâR )LMDFLäQ DFRPSDâDQWH H[WHULRUHVWUDVHURV FHQWUDOWUDVHUR
*UXSRKDVWDNJ ( ,625 ; ,/ ;
*UXSRKDVWDNJ ( ,625 ; ,/ ;
' ,625 ; ,/ ;
& ,625 ; ,/ ;
*UXSR,GHDNJ ' ,625 ; ,/ ;
& ,625 ; ,/ ;
% ,62) ; ,/,8) ;
% ,62); ; ,/,8) ;
$ ,62) ; ,/,8) ;

,/ $GHFXDGDSDUDVLVWHPDVGHUHWHQFLäQLQIDQWLO,62),;GHODVFDWHJRUÞDV
HVSHFÞILFDGHOYHKÞFXOR

OLPLWDGD
R
VHಢ
PLXQLYHUVDO
(OVLVWHPDGHUHWHQFLäQ,62),;GHEHHVWDUKRPRORJDGRSDUDHOWLSRHVSHFÞILFRGHYHKÞFXOR
,8) $GHFXDGDSDUDVLVWHPDVGHUHWHQFLäQLQIDQWLO,62),;RULHQWDGRVKDFLDGHODQWHGHFDWHJRUÞDXQLYHUVDOKRPRORಢ
JDGRVSDUDVXXVRHQHVWDFODVHGHSHVR
; 1LQJëQVLVWHPDGHUHWHQFLäQLQIDQWLO,62),;KRPRORJDGRHQHVWDFODVHGHSHVR
 0XHYDHODVLHQWRGHODQWHURKDVWDODSRVLFLäQPÒVDGHODQWDGDRPXÚYDORKDFLDGHODQWHKDVWDTXHHOVLVWHPDGH
UHWHQFLäQLQIDQWLOQRLQWHUILHUDFRQHOUHVSDOGRGHODVLHQWRGHODQWHUR
 $VLHQWRVVLVWHPDVGHVHJXULGDG

&ODVHGHWDPDâR,62),;\GLVSRVLWLYRGHDVLHQWR
$ಣ,62) 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVGHWDOODPÒ[LPDHQODFODVHGHSHVR
GHDNJ
%ಣ,62) 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVR
GHDNJ
%ಣ,62); 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVR
GHDNJ
&ಣ,625 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVGHWDOODPÒ[LPDHQODFODVHGHSHVRKDVWD
NJ
'ಣ,625 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVRKDVWD
NJ
(ಣ,625 6LVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVSHTXHâRVHQODFODVHGHSHVR
KDVWDNJ
$VLHQWRVVLVWHPDVGHVHJXULGDG 

6LVWHPDVGHUHWHQFLäQ 6LVHXVDQVRSRUWHVGHPRQWDMH $EUDODWDSDGHODDUJROODGHILMDFLäQ


,62),;SDUDHODVLHQWRVHSXHGHQ UHTXHULGDPDUFDGDFRQHOVÞPEROR
LQIDQWLO,62),; XWLOL]DUVLVWHPDVGHUHWHQFLäQLQIDQWLO GHODVLHQWRLQIDQWLO
KRPRORJDGRVSDUDXVRXQLYHUVDOFRQ
,62),;

6LVWHPDVGHUHWHQFLäQ
LQIDQWLOFRQDQFODMHV
VXSHULRUHV
/DVDUJROODVGHILMDFLäQGHORVDQFODಢ
MHV 7RSWHWKHU HVWÒQPDUFDGRVFRQ
HOVÞPERORHQODFXELHUWDGHOFRPಢ
SDUWLPHQWRGHFDUJD

)LMHORVVLVWHPDVGHVHJXULGDGLQIDQWLO $GHPÒVGHOVRSRUWHGHPRQWDMH
,62),;KRPRORJDGRVSDUDHOYHಢ ,62),;ILMHODFRUUHDGHO
KÞFXORDORVVRSRUWHVGHPRQWDMH DQFODMHVXSHULRUDODVDUJROODVGHILMDಢ
,62),; FLäQSDUDHODQFODMHVXSHULRU/DFRಢ
/RVVLVWHPDVGHUHWHQFLäQLQIDQWLO UUHDGHEHSDVDUHQWUHODVGRVYDULOODV
,62),;VäORSXHGHQPRQWDUVHHQODV JXÞDGHOUHSRVDFDEH]DV
SOD]DVH[WHULRUHVGHODILODGHDVLHQಢ /DVSRVLFLRQHVGHODFDWHJRUÞDXQLಢ
WRVWUDVHURV YHUVDOSDUDORVVLVWHPDVGHUHWHQFLäQ
/RVVRSRUWHVGHPRQWDMH,62),;VH LQIDQWLO,62),;HVWÒQPDUFDGDVPHಢ
LQGLFDQPHGLDQWHXQDHWLTXHWDHQHO GLDQWHಮ,8)HQODWDEOD
UHVSDOGR
 3RUWDREMHWRV

3RUWDREMHWRV &RPSDUWLPHQWRV 3RUWDREMHWRVHQHOWDEOHUR


SRUWDREMHWRV GHLQVWUXPHQWRV
&RPSDUWLPHQWRVSRUWDREMHWRV  
3RUWDREMHWRVHQODSDUWH
 $GYHUWHQFLD VXSHULRUGHOWDEOHURGH
&RPSDUWLPHQWRGHFDUJD  
LQVWUXPHQWRV
6LVWHPDSRUWDHTXLSDMHVGH 1RJXDUGHREMHWRVSHVDGRVRDILಢ
WHFKR   ODGRVHQORVFRPSDUWLPHQWRVSRUಢ
,QIRUPDFLäQVREUHODFDUJD   WDREMHWRV(QFDVRFRQWUDULRVLVH
DEULHUDODWDSDGHOFRPSDUWLPHQWR
SRUWDREMHWRVSRUXQDIUHQDGD
IXHUWHXQDPDQLREUDEUXVFDGHO
YRODQWHRXQDFFLGHQWHORVRFXಢ
SDQWHVGHOYHKÞFXORSRGUÞDQVXIULU
OHVLRQHVSRUHOLPSDFWRGHGLFKRV
REMHWRV

7LUHGHODVDSDUDOHYDQWDUODWDSD
3RUWDREMHWRV 

3RUWDREMHWRVGHEDMRGHO *XDQWHUD 3RUWDYDVRV


FRQPXWDGRUGHODVOXFHV
 $GYHUWHQFLD
1RGHMHYDVRVFRQOÞTXLGRFDOLHQWH
VLQWDSDUHQHOSRUWDYDVRVFXDQGR
HOYHKÞFXORHVWÒHQPDUFKD6LHO
OÞTXLGRFDOLHQWHVHGHUUDPDSXHGH
TXHPDUVH6LODTXHPDGXUDDIHFWD
DOFRQGXFWRUSRGUÞDSHUGHUHOFRQಢ
WUROGHOYHKÞFXOR
3DUDUHGXFLUHOULHVJRGHOHVLRQHV
SHUVRQDOHVHQFDVRGHIUHQD]R
EUXVFRRFROLVLäQQRFRORTXHHQHO
3DUDDEULUWLUHGHODVD SRUWDYDVRVERWHOODVYDVRVODWDV
7LUHGHODVDSDUDDEULUODFDMD /DJXDQWHUDVHSXHGHFHUUDUFRQOD HWFVLQWDSDURDVHJXUDUFXDQGR
OODYHGHOYHKÞFXOR HOYHKÞFXORHVWÒHQPDUFKD

 $GYHUWHQFLD
3DUDUHGXFLUHOULHVJRGHOHVLRQHV
HQFDVRGHDFFLGHQWHRIUHQD]R
EUXVFRPDQWHQJDVLHPSUHOD
JXDQWHUDFHUUDGDFXDQGRHOYHಢ
KÞFXORHVWÚHQPDUFKD
 3RUWDREMHWRV

+D\SRUWDYDVRVDGLFLRQDOHVHQHOUHಢ &RPSDUWLPHQWRGH
SRVDEUD]RVWUDVHURFXDQGRHVWÒEDಢ
MDGR FDUJD
3RUWDREMHWRVGHO $EDWLUORVUHVSDOGRVGHORV
UHSRVDEUD]RV DVLHQWRVWUDVHURV
(OUHVSDOGRWUDVHURHVWÒGLYLGLGRHQ
3RUWDREMHWRVHQHO GRVSDUWHV6HSXHGHQDEDWLUDPEDV
UHSRVDEUD]RVGHODQWHUR SDUWHV
%DMHORVUHSRVDFDEH]DVSXOVDQGRHO
UHVRUWH
/RVSRUWDYDVRVHVWÒQVLWXDGRVHQOD
FRQVRODFHQWUDO  $GYHUWHQFLD
6LVHDEDWHXQDVLHQWRWUDVHURFRQ
ORVFLQWXURQHVGHVHJXULGDGDëQ
DEURFKDGRVVHSXHGHQGDâDUORV
FLQWXURQHVGHVHJXULGDGRHO
DVLHQWR6LHPSUHVHGHEHQGHVDಢ
EURFKDUORVFLQWXURQHVGHVHJXULಢ
GDG\GHYROYHUORVDVXSRVLFLäQ
QRUPDOGHDORMDPLHQWRDQWHVGH
3UHVLRQHODSDODQFDSDUDGHVOL]DU\ DEDWLUXQDVLHQWRWUDVHUR
OHYDQWDUHOUHSRVDEUD]RV
/HYDQWHHOUHSRVDEUD]RVWUDVHUR
3RUWDREMHWRV 

6LORVFLQWXURQHVGHVHJXULGDGQRVH
HQUROODQDXWRPÒWLFDPHQWHLQVHUWHWRಢ
GRVORVFLQWXURQHVGHVHJXULGDGHQ
VXVUDQXUDV
3XHGHTXHHOFLQWXUäQGHVHJXULGDG
FHQWUDOWUDVHURVHEORTXHHFXDQGROHಢ
YDQWHHOUHVSDOGRGHODVLHQWR6LIXHUD
DVÞGHMHTXHHOFLQWXUäQVHUHWUDLJD
KDVWDHOPÒ[LPR\HPSLHFHGHQXHYR
1XQFDDEDWDHOUHVSDOGRGHODVLHQWR
FXDQGRHOFLQWXUäQGHODVLHQWRFHQWUDO
WUDVHURHVWÚDEURFKDGRRH[WUDÞGR
7LUHGHODSDODQFDGHGHVEORTXHRHQ 3RQJDORVUHVSDOGRVHQSRVLFLäQYHUಢ
XQRRDPERVODGRV\DEDWDORVUHVಢ WLFDO\GHVHQJDQFKHORVFLQWXURQHVGH  $GYHUWHQFLD
SDOGRVVREUHODEDQTXHWDGHDVLHQWR VHJXULGDGGHODVJXÞDVGHVXMHFLäQ
$QWHVGHDEDWLUORVUHVSDOGRVLQWURಢ (QFODYHORVUHVSDOGRVHQVXSRVLFLäQ 1RSHUPLWHTXHORVRFXSDQWHVVH
GX]FDORVFLQWXURQHVGHVHJXULGDGGH HPSXMDQGRHQODSDUWHVXSHULRUGHO VLHQWHQVREUHHOUHVSDOGRDEDWLGR
ORVDVLHQWRVH[WHULRUHVHQODVJXÞDV UHVSDOGRKDVWDTXHHQFODYHDXGLEOHಢ GHORVDVLHQWRVFRQHOYHKÞFXORHQ
PHQWH PDUFKD\DTXHGLFKDSRVLFLäQGH
DVLHQWRHVLQFRUUHFWD\QRKD\GLVಢ
9XHOYDDWLUDUGHORVUHVSDOGRVKDFLD SRQLEOHVFLQWXURQHVGHVHJXULGDG
GHODQWHSDUDDVHJXUDUVHGHTXHHVಢ SDUDVXXVR(VWRSRGUÞDRFDVLRಢ
WÚQFRUUHFWDPHQWHHQFODYDGRV QDUOHVLRQHVJUDYHVRIDWDOHVHQ
/RVUHVSDOGRVVäORHVWDUÒQELHQHQಢ FDVRGHDFFLGHQWHRIUHQD]R
FODYDGRVFXDQGRQRVHDQYLVLEOHVODV EUXVFR/RVREMHWRVWUDQVSRUWDGRV
PDUFDVURMDVHQDPERVODGRVFHUFD VREUHHOUHVSDOGRDEDWLGRQRGHಢ
GHODSDODQFDGHGHVEORTXHR EHUÞDQVXSHUDUODDOWXUDGHORV
 3RUWDREMHWRV

DVLHQWRVGHODQWHURV(QFDVRFRQಢ 3RUWDREMHWRVWUDVHUR &XELHUWDGHO


WUDULRODFDUJDSRGUÞDGHVOL]DUVH (QODYHUVLäQ6WDWLRQ:DJRQKD\VLಢ FRPSDUWLPHQWRGHFDUJD
KDFLDGHODQWH\RFDVLRQDUGDâRVR WXDGDXQDEDQGHMDGHWUÒVGHORV
OHVLRQHVDOIUHQDUEUXVFDPHQWH 1RFRORTXHQLQJëQREMHWRVREUHODFXಢ
DVLHQWRVWUDVHURV ELHUWD
*DQFKRSDUDEROVDV 'HVPRQWDMHGHODEDQGHMD 9HUVLäQSXHUWDV
'HVPRQWDMH

(QHOODGRL]TXLHUGRGHOFRPSDUWLಢ (PSXMHODEDQGHMDKDFLDDUULEDSRUOD
PHQWRGHFDUJDKD\XQJDQFKRSDUD SDUWHIURQWDOSDUDGHVHQFODYDUOD
FROJDUEROVDVGHWUDQVSRUWHOLJHUDV 7LUHGHODEDQGHMDKDFLDDWUÒV\GHVಢ 'HVHQJDQFKHODVFLQWDVGHVXMHFLäQ
PäQWHOD GHOSRUWäQWUDVHUR
$WHQFLäQ
0RQWDMHGHODEDQGHMD
1RFXHOJXHREMHWRVSHVDGRVHQHO ,QVHUWHODEDQGHMDHQODVJXÞDVODWHಢ
JDQFKRSDUDEROVDV3RGUÞDGDಢ UDOHVWUDVHUDV\EÒMHOD
âDUVH
3RUWDREMHWRV 

$EULUODFXELHUWD &XELHUWDHQODSRVLFLäQVXSHULRU

/HYDQWHODFXELHUWDSRUODSDUWHWUDಢ
VHUD\HPSëMHODKDFLDDUULEDSRUOD
7LUHGHODVLGHURHQHOH[WUHPRGHOD (PSXMHHODVLGHURHQHOH[WUHPRGHOD
SDUWHGHODQWHUD
FXELHUWDKDFLDDWUÒV\KDFLDDEDMR6H FXELHUWDKDFLDDEDMR/DSDUWHWUDVHUD
'HVPRQWHODWDSD HQUROODDXWRPÒWLFDPHQWH GHODFXELHUWDVHJXÞDDXWRPÒWLFDಢ
PHQWHKDFLDDUULED
$EURFKDUVHHOFLQWXUäQ
,QVHUWHODFXELHUWDHQODVJXÞDVODWHಢ
UDOHV\EÒMHOD)LMHODVFLQWDVGHVXMHಢ
FLäQDOSRUWäQWUDVHUR

6WDWLRQ:DJRQ
&HUUDUODFXELHUWD
7LUHGHODFXELHUWDKDFLDDWUÒVXVDQGR
HODVLGHURKDVWDTXHVHHQFODYHHQODV
ILMDFLRQHVODWHUDOHV
 3RUWDREMHWRV

'HVPRQWDUODFXELHUWD &XELHUWDGHOSRUWDREMHWRV $UJROODV


GHOPDOHWHUR
&XELHUWDGHOSLVRWUDVHUR
6WDWLRQ:DJRQ

$EUDODFXELHUWDGHOFRPSDUWLPHQWR /DVDUJROODVHVWÒQGLVHâDGDVSDUDILಢ
GHFDUJD MDUODVFRUUHDVGHDPDUUHRXQDUHG
(PSXMHHOSHVWLOORKDFLDGHQWUR\OHಢ SDUDHOHTXLSDMH\HYLWDUTXHVHGHVಢ
YDQWHODFXELHUWD'HVPRQWHODFXಢ SODFHQORVREMHWRVWUDQVSRUWDGRV
ELHUWD
'HVEORTXHHODFXELHUWDGHOSLVRWUDಢ
0RQWDUODFXELHUWD VHURHPSXMDQGRORVGRVSHVWLOORVKDಢ 5HGGHVHJXULGDG
,QVHUWHODFXELHUWDHQODVXMHFLäQODWHಢ FLDGHQWUR/HYDQWHODFXELHUWDWLUDQGR /DUHGGHVHJXULGDGHVWÒGLVSRQLEOH
UDO(PSXMHKDFLDGHQWURHOSHVWLOORGHO GHODVLGHUR3OLHJXH\FRORTXHODFXಢ HQHO6WDWLRQ:DJRQ\VHSXHGHPRQಢ
RWURODGRGHODFXELHUWD\VXMÚWHOR ELHUWDGHWUÒVGHORVDVLHQWRVWUDVHURV WDUGHWUÒVGHORVDVLHQWRVWUDVHURVR
%DMHODFXELHUWD\VXHOWHHOSHVWLOOR VLORVUHVSDOGRVWUDVHURVHVWÒQDEDWLಢ
SDUDTXHVHHQFODYH GRVGHWUÒVGHORVDVLHQWRVGHODQWHಢ
URV
3RUWDREMHWRV 

1RVHGHEHQWUDQVSRUWDUSHUVRQDV 'HWUÒVGHORVDVLHQWRVGHODQWHURV 0RQWDMHGHODEDUUD


GHWUÒVGHODUHGGHVHJXULGDG

0RQWDMH
'HWUÒVGHORVDVLHQWRVWUDVHURV

)LMHODFRUUHDDODVDUJROODVVLWXDGDV (QFDGDODGRGHOPDUFRGHOWHFKRKD\
GHEDMRGHODEDQTXHWDGHODVLHQWRWUDಢ GRVDEHUWXUDVGHPRQWDMHHQJDQFKH
VHUR \HQFODYHODYDULOODGHODUHGHQXQ
$EDWDORVUHVSDOGRV ODGRFRPSULPDODYDULOODSDUDHQJDQಢ
FKDUOD\HQFODYDUODHQHORWURODGR
)LMHHOJDQFKRLQIHULRUFRQODDEHUWXUD 0XHYDORVDVLHQWRVGHODQWHURVKDFLD
PLUDQGRKDFLDDWUÒVUHVSHFWRDODDUಢ GHODQWHSDUDUHGXFLUODWHQVLäQVLHV &RPSDUWLPHQWRGHFDUJD 
JROODGHODSDUHGODWHUDOGHUHFKDHL]ಢ QHFHVDULR
TXLHUGDUHVSHFWLYDPHQWH$MXVWHOD
'HVPRQWDMH
ORQJLWXGGHODVFRUUHDVGHODUHGGH 'HVHQJDQFKHODVYDULOODVGHODUHGGH
VHJXULGDGILMDQGRHOJDQFKRVXSHULRU VHJXULGDGGHORVVRSRUWHVHQHO
DODVDUJROODVGHODFRUUHD0DQWHQJD PDUFRGHOWHFKR6XHOWHODVFRUUHDV
ODFRUUHDWHQVDGDPLHQWUDVLQVWDODOD GHODVDUJROODV(QUROOHODUHGGHVHಢ
EDUUD JXULGDG\IÞMHODFRQXQDFLQWD
 3RUWDREMHWRV

/DUHGGHVHJXULGDGGHVPRQWDGD 6WDWLRQ:DJRQ %RWLTXÞQ


SXHGHJXDUGDUVHGHEDMRGHODFXಢ
ELHUWDGHOSLVRWUDVHUR  SXHUWDV

7ULÒQJXORGHDGYHUWHQFLD
SXHUWDV

3OLHJXHODVFRUUHDV*XDUGHHOWULÒQಢ
JXORGHDGYHUWHQFLDHQHOHVSDFLRVLಢ
WXDGRGHWUÒVGHODVFRUUHDVHQHOLQಢ *XDUGHHOERWLTXÞQHQODUHMLOODHQHO
WHULRUGHOSRUWäQWUDVHUR ODGRGHUHFKRGHOFRPSDUWLPHQWRGH
FDUJD

*XDUGHODFXELHUWDGHOWULÒQJXORGH 9HUVLäQSXHUWDV
DGYHUWHQFLDFRQXQDFLQWDWLSRYHOFUR *XDUGHHOERWLTXÞQHQHOFRPSDUWLಢ
PHQWRSRUWDREMHWRVVLWXDGRGHEDMRGH
9HUVLäQSXHUWDV ODFXELHUWDGHOSLVRGHOPDOHWHUR
*XDUGHHOWULÒQJXORGHDGYHUWHQFLDHQ
HOFRPSDUWLPHQWRSRUWDREMHWRVVLಢ
WXDGRGHEDMRGHODFXELHUWDGHOSLVR
GHOPDOHWHUR
3RUWDREMHWRV 

6WDWLRQ:DJRQ ([WLQWRU 6LVWHPDSRUWDHTXLSDMHV


GHWHFKR
3RUWDHTXLSDMHVGHWHFKR
3RUPRWLYRVGHVHJXULGDG\SDUDHYLಢ
WDUGDâRVHQHOWHFKRVHUHFRPLHQGD
XVDUHOVLVWHPDGHSRUWDHTXLSDMHVGH
WHFKRKRPRORJDGRSDUDVXYHKÞFXOR
6LJDODVLQVWUXFFLRQHVGHPRQWDMH\
GHVPRQWHHOSRUWDHTXLSDMHVFXDQGR
QRVHYD\DDXWLOL]DU

3OLHJXHODFRUUHD*XDUGHHOERWLTXÞQ (OH[WLQWRUHVWÒVLWXDGRHQOD]RQDUHಢ
HQHOHVSDFLRVLWXDGRGHWUÒVGHXQD SRVDSLÚVGHODQWHGHODVLHQWRGHO
FRUUHDHQHOLQWHULRUGHOSRUWäQWUDಢ DFRPSDâDQWH
VHUR
 3RUWDREMHWRV

,QIRUPDFLäQVREUHOD ࿢ $VHJXUHORVREMHWRVHQHOFRPSDUಢ ࿢ /DFDUJDëWLOHVODGLIHUHQFLDHQWUH


WLPHQWRGHFDUJDSDUDHYLWDUVX HOSHVRPÒ[LPRDXWRUL]DGRGHOYHಢ
FDUJD GHVOL]DPLHQWR KÞFXOR YÚDVHODSODFDGHFDUDFWHಢ
࿢ &XDQGRVHWUDQVSRUWHQREMHWRVHQ UÞVWLFDV  \HOSHVRHQYDFÞR
HOFRPSDUWLPHQWRGHFDUJDORVUHVಢ 3DUDFDOFXODUHOSHVRHQYDFÞRLQಢ
SDOGRVGHORVDVLHQWRVWUDVHURVQR WURGX]FDORVGDWRVGHVXYHKÞFXOR
GHEHQHVWDULQFOLQDGRVKDFLDGHಢ GHODWDEODGHSHVRVHQODSÒJLQD
ODQWH 
࿢ /DFDUJDQRGHEHVREUHVDOLUSRUHQಢ (OSHVRHQYDFÞRLQFOX\HORVSHVRV
FLPDGHOERUGHVXSHULRUGHORVUHVಢ FDOFXODGRVSDUDHOFRQGXFWRU
SDOGRV NJ HOHTXLSDMH NJ \WRGRV
࿢ 1RFRORTXHREMHWRVVREUHODFXಢ ORVOÞTXLGRV GHSäVLWROOHQRDO
ELHUWDGHOFRPSDUWLPHQWRGHFDUJD  
QLHOWDEOHURGHLQVWUXPHQWRVQR (OHTXLSDPLHQWRRSFLRQDO\ORVDFಢ
WDSHHOVHQVRUVLWXDGRHQODSDUWH FHVRULRVDXPHQWDQHOSHVRHQYDಢ
VXSHULRUGHOWDEOHURGHLQVWUXPHQಢ FÞR
࿢ /RVREMHWRVSHVDGRVHQHOFRPSDUಢ WRV ࿢ &RQGXFLUFRQFDUJDHQHOWHFKRDXಢ
WLPHQWRGHFDUJDGHEHQFRORFDUVH ࿢ /DFDUJDQRGHEHREVWDFXOL]DUHO PHQWDODVHQVLELOLGDGGHOYHKÞFXORD
DSR\DGRVFRQWUDORVUHVSDOGRVGH DFFLRQDPLHQWRGHORVSHGDOHVHO ORVYLHQWRVODWHUDOHV\WLHQHXQ
ORVDVLHQWRV$VHJëUHVHGHTXHORV IUHQRGHHVWDFLRQDPLHQWRRODSDಢ HIHFWRQHJDWLYRVREUHODPDQLREUDಢ
UHVSDOGRVHVWÚQELHQHQFODYDGRV ODQFDGHFDPELRVQLLPSHGLUODOLಢ ELOLGDGGHELGRDODHOHYDFLäQGHO
6LVHSXHGHQDSLODUORVREMHWRVORV EHUWDGGHPRYLPLHQWRVGHOFRQGXFಢ FHQWURGHJUDYHGDG'LVWULEX\DOD
PÒVSHVDGRVGHEHQFRORFDUVH WRU1RVHGHEHQGHMDUREMHWRVVXHOಢ FDUJDXQLIRUPHPHQWH\DVHJëUHOD
DEDMR WRVHQHOKDELWÒFXOR FRQFRUUHDVGHVXMHFLäQ$MXVWHOD
࿢ $VHJXUHORVREMHWRVFRQFRUUHDVGH ࿢ 1RFRQGX]FDFRQHOFRPSDUWLPHQWR SUHVLäQGHORVQHXPÒWLFRV\ODYHಢ
DPDUUHILMDGDVDODVDUJROODV  GHFDUJDDELHUWR ORFLGDGGHOYHKÞFXORDODVFRQGLFLRಢ
QHVGHFDUJD&RPSUXHEH\YXHOYD
3RUWDREMHWRV 

DDSUHWDUODVFRUUHDVFRQIUHFXHQಢ
FLD
1RFRQGX]FDDPÒVGHNPK
 ,QVWUXPHQWRV\PDQGRV

,QVWUXPHQWRV\ 0DQGRV $WHQFLäQ


PDQGRV $MXVWHGHOYRODQWH 6LHOHMHGHODFROXPQDGHODGLUHFಢ
FLäQVXIUHXQIXHUWHLPSDFWR
FXDQGRVHDMXVWDHOYRODQWHRFRQ
0DQGRV   ODSDODQFDEORTXHDGDVHSXHGHQ
7HVWLJRVOXPLQRVRVHLQGLFDGRಢ RFDVLRQDUGDâRVHQORVFRPSRಢ
UHV   QHQWHVGHOYRODQWH
3DQWDOODVGHLQIRUPDFLäQ  
0HQVDMHVGHOYHKÞFXOR  
0DQGRVHQHOYRODQWH
2UGHQDGRUGHDERUGR  
3HUVRQDOL]DFLäQGHOYHKÞFXOR  

'HVEORTXHHODSDODQFDDMXVWHHOYRಢ
ODQWHOXHJRHQFODYHODSDODQFD\DVHಢ
JëUHVHGHTXHHVWÚWRWDOPHQWHEORಢ
TXHDGD
(OYRODQWHVäORVHGHEHDMXVWDUFRQHO
YHKÞFXORSDUDGR

(OVLVWHPDGHLQIRHQWUHWHQLPLHQWRVH
SXHGHPDQHMDUFRQORVPDQGRVHQHO
YRODQWH
,QVWUXPHQWRV\PDQGRV 

9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ /LPSLDODYDSDUDEULVDV ' FRQH[LäQDLQWHUYDORVRIXQFLRಢ


IRHQWUHWHQLPLHQWRRODVHFFLäQ6LVಢ QDPLHQWRDXWRPÒWLFRFRQVHQಢ
WHPDGHLQIRHQWUHWHQLPLHQWRSDUD /LPSLDSDUDEULVDV VRUGHOOXYLD
PÒVLQIRUPDFLäQ c GHVFRQHFWDU
3DUDXQVROREDUULGRFXDQGRORVOLPಢ
%RFLQD SLDSDUDEULVDVHVWÒQGHVFRQHFWDGRV
SXOVHODSDODQFDKDFLDDEDMR
1RORVXWLOLFHVLHOSDUDEULVDVHVWÒKHಢ
ODGR
'HVFRQÚFWHORVHQWëQHOHVGHODYDGR
,QWHUYDORGHIXQFLRQDPLHQWRDMXVWDEOH

SXHUWDVSXHUWDV
+, YHORFLGDGUÒSLGD
/2 YHORFLGDGOHQWD
3XOVHH ,17 IXQFLRQDPLHQWRDLQWHUYDORV
UHJXODEOHVRVHQVRUGHOOXಢ
YLD
2)) GHVFRQHFWDU
6WDWLRQ:DJRQ
 YHORFLGDGUÒSLGD
SXHUWDVSXHUWDV
 YHORFLGDGOHQWD
3DODQFDGHOOLPSLDSDUDEULVDVHQ
SRVLFLäQ,17
 ,QVWUXPHQWRV\PDQGRV

6WDWLRQ:DJRQ 6WDWLRQ:DJRQ *LUHODUXHGDGHDMXVWHSDUDDMXVWDUOD


3DODQFDGHOOLPSLDSDUDEULVDVHQSRಢ 3DODQFDGHOOLPSLDSDUDEULVDVHQSRಢ VHQVLELOLGDG
VLFLäQ' VLFLäQ' VHQVLELOLGDG JLUHODUXHGDGH
*LUHODUXHGDGHDMXVWHSDUDDMXVWDUHO (OVHQVRUGHOOXYLDGHWHFWDODFDQWLGDG EDMD DMXVWHKDFLDDEDMR
LQWHUYDORGHIXQFLRQDPLHQWR GHDJXDHQHOSDUDEULVDV\UHJXODDXಢ VHQVLELOLGDG JLUHODUXHGDGH
WRPÒWLFDPHQWHODIUHFXHQFLDGHORV DOWD DMXVWHKDFLDDUULED
LQWHUYDOR JLUHODUXHGDGHDMXVWH
FRUWR KDFLDDUULED OLPSLDSDUDEULVDV
LQWHUYDOR JLUHODUXHGDGHDMXVWH $WHQFLäQ
6HQVLELOLGDGUHJXODEOHGHOVHQVRUGH
ODUJR KDFLDDEDMR
OOXYLD (QWëQHOHVGHODYDGRGHVFRQHFWH
)XQFLRQDPLHQWRDXWRPÒWLFRFRQ ORVOLPSLDSDUDEULVDV\HOPRGRDXಢ
VHQVRUGHOOXYLD WRPÒWLFRFRQVHQVRUGHOOXYLD

SXHUWDVSXHUWDV
0DQWHQJDHOVHQVRUOLEUHGHSROYR
,17 )XQFLRQDPLHQWRDXWRPÒWLFR VXFLHGDG\KLHOR
FRQVHQVRUGHOOXYLD
,QVWUXPHQWRV\PDQGRV 

6LFDPELDORVOLPSLDSDUDEULVDVDO /LPSLDODYDOXQHWD
PRGRGHVHQVRUGHOOXYLDRJLUDOD $WHQFLäQ
UXHGDGHDMXVWHGHEDMDVHQVLELOLGDG
DDOWDVHQVLELOLGDGFRQHOHQFHQGLGR 6LODYLVLäQGHOFRQGXFWRUQRHV
FRQHFWDGRORVOLPSLDSDUDEULVDVVH FODUDVHSXHGHSURGXFLUXQDFFLಢ
DFFLRQDUÒQXQDYH]SDUDFRPSUREDU GHQWH\RFDVLRQDUOHVLRQHVSHUVRಢ
HOVLVWHPD QDOHV\GDâRVHQHOYHKÞFXORX
RWUDVSURSLHGDGHV
/DYDSDUDEULVDV 1RXWLOLFHORVOLPSLDSDUDEULVDVVLHO
SDUDEULVDVHVWÒVHFRXREVWUXLGR
SRUHMHPSORFRQQLHYHRKLHOR6L
XWLOL]DORVOLPSLDSDUDEULVDVHQXQ
SDUDEULVDVREVWUXLGRVHSXHGHQ
GDâDUODVHVFRELOODVHOPRWRU\HO
FULVWDO
3XOVHHOLQWHUUXSWRUEDVFXODQWHSDUD
&RQWLHPSRIUÞRFRPSUXHEHTXH
DFWLYDUHOOLPSLDOXQHWD
ODVHVFRELOODVQRHVWÚQSHJDGDV
SRUFRQJHODFLäQDOSDUDEULVDV6L SRVLFLäQ IXQFLRQDPLHQWRFRQWLಢ
XWLOL]DHOOLPSLDSDUDEULVDVFRQOD VXSHULRU QXR
HVFRELOODFRQJHODGDSXHGHGDâDU SRVLFLäQ IXQFLRQDPLHQWRLQWHUಢ
VXPRWRU LQIHULRU PLWHQWH
SRVLFLäQ GHVFRQHFWDU
1RDFFLRQHHOODYDSDUDEULVDVFRQಢ
7LUHGHODSDODQFD6HSXOYHUL]DOÞಢ FHQWUDO
WLQXDPHQWHGXUDQWHPÒVGHXQRV
TXLGRGHODYDGRVREUHHOSDUDEULVDV\ VHJXQGRVQLFXDQGRHOGHSäVLWR
ORVOLPSLDSDUDEULVDVVHDFFLRQDQGXಢ GHOOÞTXLGRGHODYDGRHVWÚYDFÞR
UDQWHYDULRVFLFORV (VWRSRGUÞDSURYRFDUHOVREUHFDಢ
OHQWDPLHQWRGHOPRWRUGHOODYDOXಢ
QHWD\SURYRFDUXQDDYHUÞD
 ,QVWUXPHQWRV\PDQGRV

(OVLVWHPDODYDOXQHWDVHGHVDFWLYD 5HORM
FXDQGRHOQLYHOGHOÞTXLGRHVEDMR
/DIHFKD\ODKRUDVHPXHVWUDQHQOD
SDQWDOODGHLQIRUPDFLäQ
7HPSHUDWXUDH[WHULRU
$MXVWHGHODIHFKD\ODKRUD
&'&'
&RQHFWHHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR
3XOVHHOERWäQ&ORFN

3UHVLRQHODSDODQFD6HSXOYHUL]DOÞಢ
TXLGRGHODYDGRVREUHODOXQHWDWUDಢ
VHUD\HOOLPSLDOXQHWDVHUHDOL]DHOEDಢ
UULGRYDULDVYHFHV
1RORXWLOLFHVLODOXQHWDWUDVHUDHVWÒ
KHODGD (OGHVFHQVRGHODWHPSHUDWXUDVHLQಢ
'HVFRQÚFWHORVHQWëQHOHVGHODYDGR GLFDLQPHGLDWDPHQWHHODXPHQWRVH
LQGLFDFRQXQOLJHURUHWUDVR
(OOLPSLDOXQHWDVHFRQHFWDDXWRPÒWLಢ
FDPHQWHFXDQGRHVWÒFRQHFWDGRHO  $GYHUWHQFLD
OLPSLDSDUDEULVDV\VHHQJUDQDODPDUಢ
FKDDWUÒV /DFDUUHWHUDSXHGHHVWDU\DKHಢ 6HSXHGHQHIHFWXDUORVDMXVWHVGHOD
/DDFWLYDFLäQRGHVDFWLYDFLäQGHHVWD ODGDDXQTXHODSDQWDOODPXHVWUH IHFKD\ODKRUD
IXQFLäQVHSXHGHFDPELDUHQHOPHQë XQRVSRFRVJUDGRVSRUHQFLPDGH
$MXVWHVGHODSDQWDOODGHLQIRUPDFLäQ ¡& 3HUVRQDOL]DFLäQGHOYHKÞFXOR 
3HUVRQDOL]DFLäQGHOYHKÞFXOR 
,QVWUXPHQWRV\PDQGRV 

6LVWHPDGHDXGLR0\/LQN1DYL (OFRQVXPRPÒ[LPRQRGHEHVXSHUDU 7HVWLJRVOXPLQRVRVH


 ORVYDWLRV
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ /DVWRPDVGHFRUULHQWHVHGHVDFWLYDQ
LQGLFDGRUHV
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ DOGHVFRQHFWDUHOHQFHQGLGR$GHಢ
FLäQ PÒVODVWRPDVGHFRUULHQWHVHGHVಢ 9HORFÞPHWUR
DFWLYDQWDPELÚQVLODWHQVLäQGHODEDಢ
WHUÞDHVEDMD
7RPDVGHFRUULHQWH
1RFRQHFWHDFFHVRULRVGHVXPLQLVWUR
GHFRUULHQWHFRPRSXHGHQVHUGLVSRಢ
VLWLYRVGHFDUJDHOÚFWULFDREDWHUÞDV
3DUDHYLWDUGDâRVQRXWLOLFHFRQHFWRಢ
UHVLQDGHFXDGRV
6LVWHPDVWRSVWDUW 

,QGLFDODYHORFLGDGGHOYHKÞFXOR
(ODYLVRDFëVWLFRGHYHORFLGDGH[FHಢ
VLYDVRQDUÒXQDYH]SDUDDOHUWDUDO
/DVWRPDVGHFRUULHQWHGH9HVWÒQ FRQGXFWRU\SDUDTXHUHGX]FDODYHಢ
VLWXDGDVHQODSDUWHGHODQWHUD\WUDಢ ORFLGDGGHOYHKÞFXORHQFXDQWRVXSHUH
VHUDGHODFRQVRODGHOSLVR ORVNPK
6WDWLRQ:DJRQ+D\XQDWRPDGHFRಢ
UULHQWHGH9VLWXDGDHQODSDUHGODಢ
WHUDOL]TXLHUGDGHOFRPSDUWLPHQWRGH
FDUJD
 ,QVWUXPHQWRV\PDQGRV

&XHQWDNLOäPHWURV 3DUDSRQHUORDFHURPDQWHQJDSXOಢ
VDGRHOERWäQGHDMXVWHGXUDQWHXQRV $WHQFLäQ
VHJXQGRVFRQHOHQFHQGLGRFRQHFಢ
WDGR 6LODDJXMDHVWÒHQHOVHFWRUGHDGಢ
YHUWHQFLDVHKDH[FHGLGRHOUÚJLಢ
PHQPÒ[LPRDGPLVLEOHGHOPRWRU
&XHQWDUUHYROXFLRQHV +D\SHOLJURSDUDHOPRWRU

,QGLFDGRUGHFRPEXVWLEOH

/DOÞQHDLQIHULRUPXHVWUDHONLORPHಢ
WUDMHUHJLVWUDGRGHOYHKÞFXOR

&XHQWDNLOäPHWURVSDUFLDO
/DOÞQHDVXSHULRUPXHVWUDODGLVWDQFLD ,QGLFDODVUHYROXFLRQHVSRUPLQXWRGHO
UHFRUULGDGHVGHODëOWLPDSXHVWDD PRWRU
FHUR YDORUPÒ[ &XDQGROD
GLVWDQFLDUHJLVWUDGDOOHJXHD &RQGX]FDHQORVUHJÞPHQHVPÒVEDಢ 0XHVWUDHOQLYHOGHFRPEXVWLEOHHQHO
HOFXHQWDNLOäPHWURVSDUFLDOVHSRQGUÒ MRVGHOPRWRUHQFDGDPDUFKDWDQWR GHSäVLWR
DVLQQHFHVLGDGGHUHLQLFLDUOR FRPRVHDSRVLEOH
(OWHVWLJRGHFRQWUROLVHLOXPLQDVL
HOQLYHOHQHOGHSäVLWRHVEDMR5Hಢ
SRVWHLQPHGLDWDPHQWH
1XQFDGHEHDJRWDUHOGHSäVLWR
,QVWUXPHQWRV\PDQGRV 

'HELGRDOFRPEXVWLEOHTXHTXHGDHQ ,QGLFDGRUGHWHPSHUDWXUD
HOGHSäVLWRODFDQWLGDGUHTXHULGD $WHQFLäQ
SDUDOOHQDUHOGHSäVLWRSXHGHVHULQಢ GHOUHIULJHUDQWHGHOPRWRU
IHULRUDODFDSDFLGDGHVSHFLILFDGD 6LODWHPSHUDWXUDGHOUHIULJHUDQWH
GHOPRWRUHVGHPDVLDGRDOWDGHಢ
1RWD WHQJDHOYHKÞFXOR\SDUHHOPRWRU
$QWHVGHUHSRVWDUDVHJëUHVHGH 3HOLJURSDUDHOPRWRU&RPSUXHEH
TXHHOHQFHQGLGRHVWÚGHVFRQHFಢ HOQLYHOGHUHIULJHUDQWH
WDGR
6LDFFLRQDODFHUUDGXUDGHOHQFHQಢ ,QGLFDFLäQGHVHUYLFLR
GLGRGXUDQWHHOUHSRVWDMHSXHGHTXH
ODDJXMDGHOLQGLFDGRUGHFRPEXVWLಢ 6LVWHPDGHYLGDëWLOGHODFHLWH
EOHQRVHâDOHHOQLYHOGHFRPEXVWLEOH GHOPRWRUSDUDPRWRUHVGLÚVHO
FRUUHFWR
QRGLVSRQLEOHHQWRGDVODVYHUVLRQHV
(QSHQGLHQWHVHVSRVLEOHTXHOD RPRWRUHV
DJXMDGHOLQGLFDGRUGHFRPEXVWLEOH
QRVHâDOHHOQLYHOGHFRPEXVWLEOH 0XHVWUDODWHPSHUDWXUDGHOUHIULJHಢ ,QWHUYDORVGHFDPELRGHODFHLWHGH
FRUUHFWRGHELGRDOPRYLPLHQWRGHO UDQWH PRWRU
FRPEXVWLEOHHQHOGHSäVLWR ]RQD HOPRWRUQRKDDOFDQಢ (OYHKÞFXORSXHGHGLVSRQHUGHXQVLVಢ
L]TXLHUGD ]DGRWRGDYÞDVXWHPಢ WHPDLQIRUPÒWLFRTXHLQGLFDFXÒQGR
SHUDWXUDGHIXQFLRQDಢ VHGHEHFDPELDUHOILOWUR\HODFHLWHGHO
PLHQWR PRWRU6HEDVDHQODVUHYROXFLRQHV\
]RQD WHPSHUDWXUDQRUPDO ODWHPSHUDWXUDGHOPRWRU\QRHQHO
FHQWUDO GHIXQFLRQDPLHQWR NLORPHWUDMH6HJëQODVFRQGLFLRQHV
]RQD WHPSHUDWXUDGHPDಢ GHFRQGXFFLäQHONLORPHWUDMHFRQHO
GHUHFKD VLDGRDOWD TXHVHWLHQHTXHFDPELDUHODFHLWHGHO
PRWRUSXHGHYDULDUFRQVLGHUDEOHಢ
PHQWH
 ,QVWUXPHQWRV\PDQGRV

3DUDTXHHOVLVWHPDGHYLGDëWLOGHO DFHLWH$FXÚUGHVHGHSRQHUDFHURHO 3XHVWDDFHURGHOVLVWHPDGHYLGDëWLO


DFHLWHIXQFLRQHELHQHOVLVWHPDGHEH VLVWHPDGHYLGDëWLOGHODFHLWHFXDQGR GHODFHLWHGHOPRWRU
SRQHUVHDFHURFDGDYH]TXHVHFDPಢ FDPELHHODFHLWH 3RQJDDFHURHOVLVWHPDFDGDYH]TXH
ELDHODFHLWH&XDQGRHOVLVWHPDFDOಢ FDPELHHODFHLWHSDUDTXHSXHGDFDOಢ
FXODTXHDODFHLWHOHTXHGDSRFDYLGD 3DQWDOODGHYLGDëWLOGHODFHLWH FXODUFXÒQGRVHWHQGUÒTXHFDPELDU
ëWLOLQGLFDTXHKD\TXHFDPELDUOR UHVWDQWH GHQXHYRHODFHLWHGHOPRWRU3DUD
(QWRQFHVDSDUHFHHOFäGLJR&RG( SRQHUDFHURHOVLVWHPDGHYLGDëWLOGHO
HQHOFHQWURGHLQIRUPDFLäQGHO PRWRUSURFHGDGHOVLJXLHQWHPRGR
FRQGXFWRU&DPELHHODFHLWHORDQWHV ࿢ &RQXQDKHUUDPLHQWDGHH[SORUDಢ
SRVLEOHHQORVSUä[LPRVNP FLäQ
(VSRVLEOHTXHVLFRQGXFHHQODVPHಢ (QHOWDOOHUSRQGUÒQDFHURHOVLVಢ
MRUHVFRQGLFLRQHVSRVLEOHVHOVLVWHPD WHPDFRQHVWDKHUUDPLHQWDGHVಢ
GHYLGDëWLOGHODFHLWHQRLQGLTXHTXH SXÚVGHOFDPELRGHDFHLWH
WLHQHTXHFDPELDUHODFHLWHKDVWD
GHQWURGHXQDâR(ODFHLWH\HOILOWUR ࿢ &RQHOSHGDOGHODFHOHUDGRU
GHOPRWRUGHEHQFDPELDUVHFRPRPÞಢ ဈ 6DTXHODOODYHGHOHQFHQGLGRR
QLPRXQDYH]DODâR\HQHVHPRಢ FRQVLVWHPD6WDUW6WRSGHVFRಢ
PHQWRGHEHSRQHUVHDFHURHOVLVಢ QHFWHHOHQFHQGLGRGXUDQWHPÒV
WHPD6XFRQFHVLRQDULRFXHQWDFRQ GHXQPLQXWR
SHUVRQDOGHVHUYLFLRIRUPDGRTXH (OLQGLFDGRUGHFRQWURO(PXHVWUDHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ ဈ 0HWDODOODYHHQHOHQFHQGLGR\
SXHGHQUHDOL]DUHVWHWUDEDMR\SRQHU JÞUHODDODSRVLFLäQRFRQVLVಢ
DFHURHOVLVWHPD WRUODYLGDëWLOTXHOHTXHGDDODFHLWH
MXQWRFRQXQSRUFHQWDMH3DUDTXH WHPD6WDUW6WRSFRQHFWHHOHQಢ
7DPELÚQHVLPSRUWDQWHTXHFRPಢ DSDUH]FDVHWLHQHTXHFRQHFWDUHOHQಢ FHQGLGR HQFHQGLGRFRQHFWDGR
SUXHEHHODFHLWHUHJXODUPHQWHHQWUH FHQGLGRVLQSRQHUHOPRWRUHQPDUಢ SHURVLQDUUDQFDUHOPRWRU 
ORVLQWHUYDORVGHYDFLDGRGHODFHLWH\ FKD ဈ 3LVHDIRQGRHOSHGDOGHODFHOHಢ
ORPDQWHQJDFRQHOQLYHODGHFXDGR6L UDGRU\PDQWÚQJDORSLVDGRGXಢ
HOVLVWHPDVHSRQHDFHURSRUHUURU &HQWURGHLQIRUPDFLäQGHOFRQGXFWRU
 UDQWHGRVVHJXQGRV
GHEHUÒFDPELDUHODFHLWHDOFDERGH
NPGHVGHHOëOWLPRFDPELRGH ,QIRUPDFLäQGHVHUYLFLR 
,QVWUXPHQWRV\PDQGRV 

ဈ 6XHOWHHOSHGDOGHODFHOHUDGRU VHLOXPLQDUÒQEUHYHPHQWHODPD\RUÞD
GXUDQWHGRVVHJXQGRV GHORVWHVWLJRVGHFRQWURODPRGRGH
ဈ 9XHOYDDSLVDU\DVROWDUHOSHGDO SUXHEDIXQFLRQDO
GHODFHOHUDGRUFRPRVHKDGHVಢ /RVFRORUHVGHORVWHVWLJRVGHFRQWURO
FULWRDQWHVGRVYHFHVHQPHQRV VLJQLILFDQORVLJXLHQWH
GHXQPLQXWR 5RMR 3HOLJURUHFRUGDWRULRLPಢ
࿢ &RQHOERWäQ6(7&/5HQYHKÞFXಢ SRUWDQWH
ORVFRQXQDSDQWDOODGHJDPDPHಢ $PDULOOR $YLVRLQIRUPDFLäQDYHಢ
GLD UÞD
3XOVHHOERWäQ0(18GHODSDODQFD 9HUGH &RQILUPDFLäQGHDFWLYDಢ
GHORVLQWHUPLWHQWHV\VHOHFFLRQH FLäQ
0HQëGHLQIRUPDFLäQGHOYHKÞFXOR $]XO &RQILUPDFLäQGHDFWLYDಢ
3XOVHHOPDQGRGHUHLQLFLRGXUDQWH
*LUHODUXHGDGHUHJXODFLäQKDVWD FLäQ
XQRVVHJXQGRVKDVWDTXHVH
TXHDSDUH]FDHOPHQëFRQODYLGD %ODQFR &RQILUPDFLäQGHDFWLYDಢ
KD\DPRVWUDGRODYLGDëWLOUHVWDQWH
ëWLOUHVWDQWHGHODFHLWHGHOPRWRU FLäQ
GHODFHLWHGHOPRWRU6XHOWHHO
3XOVHHOERWäQ6(7&/5GXUDQWH PDQGRGHUHLQLFLR\SëOVHORGH
XQRVVHJXQGRVFRQHOHQFHQGLGR QXHYRXQRVVHJXQGRVSDUDUHLQLಢ
FRQHFWDGR6LDëQDSDUHFH&RG( FLDUHOVLVWHPDGHFRQWUROGHYLGD
HQHOFHQWURGHLQIRUPDFLäQGHO ëWLOGHODFHLWHGHOPRWRU
FRQGXFWRUFXDQGRHOYHKÞFXORKD
DUUDQFDGRHOVLVWHPDGHYLGDëWLO
GHOPRWRUQRVHKDUHLQLFLDGR5Hಢ 7HVWLJRVGHFRQWURO
SLWDHOSURFHGLPLHQWR /RVWHVWLJRVGHFRQWUROGHVFULWRVQR
࿢ &RQHOPDQGRGHSXHVWDDFHURHQ HVWÒQSUHVHQWHVHQWRGRVORVYHKÞFXಢ
YHKÞFXORVFRQSDQWDOODGHJDPDEÒಢ ORV/DGHVFULSFLäQHVYÒOLGDSDUDWRಢ
VLFD GDVODVYHUVLRQHVGHFXDGURVGHLQVಢ
WUXPHQWRV$OFRQHFWDUHOHQFHQGLGR
 ,QVWUXPHQWRV\PDQGRV

7HVWLJRVGHFRQWUROHQHOFXDGURGHLQVWUXPHQWRV
,QVWUXPHQWRV\PDQGRV 

7HVWLJRVGHFRQWUROHQOD ,QWHUPLWHQWHV  $EURFKDUVHHOFLQWXUäQGHVHJXULGDG


FRQVRODFHQWUDO 
5HFRUGDWRULRGHOFLQWXUäQ
GHVHJXULGDG $LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV
5HFRUGDWRULRGHOFLQWXUäQGH TVHHQFLHQGHHQURMR
VHJXULGDGHQORVDVLHQWRV $OFRQHFWDUHOHQFHQGLGRHOWHVWLJRGH
GHODQWHURV FRQWUROVHLOXPLQDGXUDQWHXQRVVHಢ
7SDUDHODVLHQWRGHOFRQGXFWRUVH JXQGRV6LQRVHHQFLHQGHQRVH
HQFLHQGHRSDUSDGHDHQURMR DSDJDGHVSXÚVGHVHJXQGRVRVLVH
CSDUDHODVLHQWRGHODFRPSDâDQWH HQFLHQGHGXUDQWHODPDUFKDKD\XQD
VHHQFLHQGHRSDUSDGHDHQURMR DYHUÞDHQORVSUHWHQVRUHVGHFLQWXURಢ
FXDQGRHODVLHQWRHVWÒRFXSDGR QHVRHQHOVLVWHPDGHDLUEDJV/RV
VLVWHPDVSRGUÞDQQRGLVSDUDUVHHQ
6HHQFLHQGH FDVRGHDFFLGHQWH
,QWHUPLWHQWHV VHJXQGRVGHVSXÚVGHFRQHFWDUHO /DDFWLYDFLäQGHORVSUHWHQVRUHVGH
.VHHQFLHQGHRSDUSDGHDHQYHUGH HQFHQGLGRVHJXQGRVGHVSXÚV FLQWXURQHVRORVDLUEDJVVHLQGLFDPHಢ
GHDUUDQFDUHOPRWRURDOFDQ]DUXQD GLDQWHODLOXPLQDFLäQSHUPDQHQWHGHO
3DUSDGHD GLVWDQFLDRYHORFLGDGHVSHFÞILFDVLQ WHVWLJRT
(OWHVWLJRGHFRQWUROSDUSDGHD DEURFKDUVHHOFLQWXUäQGHVHJXULGDG
FXDQGRHVWÒQFRQHFWDGRVORVLQWHUPLಢ
3DUSDGHD  $GYHUWHQFLD
WHQWHVRODVOXFHVGHHPHUJHQFLD
'XUDQWHVHJXQGRVGHVSXÚVGH
3DUSDGHRUÒSLGRIDOORGHXQLQWHUPLಢ +DJDVXEVDQDULQPHGLDWDPHQWHOD
DUUDQFDUHOPRWRURDOFDQ]DUXQDGLVಢ
WHQWHRGHOIXVLEOHFRUUHVSRQGLHQWH FDXVDGHODDYHUÞDHQXQWDOOHU
WDQFLDYHORFLGDGHVSHFÞILFDVLQDEURಢ
6XVWLWXFLäQGHERPELOODV )Xಢ FKDUVHHOFLQWXUäQGHVHJXULGDG
6LVWHPDGHDLUEDJSUHWHQVRUHVGH
VLEOHV 
FLQWXURQHV  
 ,QVWUXPHQWRV\PDQGRV

'HVDFWLYDFLäQGHORV 6LVHHQFLHQGHFRQHOPRWRUHQ 6LVWHPDGHIUHQRV\


DLUEDJV PDUFKD HPEUDJXH
'HWHQJDHOYHKÞFXOR\SDUHHOPRWRU
(OWHVWLJR9GHODLUEDJGHODFRPSDಢ /DEDWHUÞDQRVHFDUJD/DUHIULJHUDಢ
âDQWHVHHQFLHQGHHQDPDULOOR 1LYHOGHOOÞTXLGRGHIUHQRV\
FLäQGHOPRWRUSXHGHHVWDULQWHUUXPಢ HPEUDJXH
&XDQGRHVWHWHVWLJRGHFRQWUROVHHQಢ SLGD&RQPRWRUHVGLÚVHOSXHGHGHಢ
FLHQGHLQGLFDTXHHODLUEDJGHODFRPಢ MDUGHIXQFLRQDUHOVHUYRIUHQR5HFXಢ VHHQFLHQGHHQURMR
SDâDQWHHVWÒDFWLYDGR UUDDODD\XGDGHXQWDOOHU 6HHQFLHQGHFRQHOIUHQRGHHVWDFLRಢ
(OWHVWLJR GHODLUEDJGHODFRPSDಢ QDPLHQWRVXHOWRVLHOQLYHOGHOOÞTXLGR
GHIUHQRVHPEUDJXHHVGHPDVLDGR
âDQWHVHHQFLHQGHHQDPDULOOR 7HVWLJRGHDYHUÞDV EDMRRVLKD\XQDDYHUÞDGHOVLVWHPD
&XDQGRHVWHWHVWLJRGHFRQWUROVHHQಢ 9VHHQFLHQGHRSDUSDGHDHQDPDಢ GHIUHQRV 
FLHQGHLQGLFDTXHHODLUEDJGHODFRPಢ ULOOR
SDâDQWHHVWÒGHVDFWLYDGR  $GYHUWHQFLD
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU
6LVWHPDGHFDUJD HOPRWRU 6LVHHQFLHQGHODOÒPSDUDGHDGಢ
YHUWHQFLDGHOVLVWHPDGHIUHQRV
NVHHQFLHQGHRSDUSDGHDHQURMR
FRPSUXHEHHOQLYHOGHOÞTXLGRGH
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\ 5HYLVLäQXUJHQWHGHO IUHQRV\FRQWDFWHGHLQPHGLDWR
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU YHKÞFXOR FRQXQWDOOHU
HOPRWRU
JVHHQFLHQGHHQDPDULOORFXDQGR 6LHVWÒEDMRHOQLYHOGHOÞTXLGRGH
HOYHKÞFXORQHFHVLWDXQDUHYLVLäQ IUHQRVHQHOGHSäVLWRQRFRQಢ
GX]FDHOYHKÞFXOR
6HHQFLHQGHHQFRPELQDFLäQFRQXQ
FäGLJRGHDGYHUWHQFLD (OORSXHGHLPSHGLUTXHVXVIUHQRV
IXQFLRQHQFRUUHFWDPHQWH&RQGXಢ
0HQVDMHVGHOYHKÞFXOR 
FLUFRQIUHQRVGHIHFWXRVRVSXHGH
FDXVDUOHVLRQHV\GDâRVHQVXYHಢ
KÞFXOR\RWURVREMHWRV
,QVWUXPHQWRV\PDQGRV 

6HLOXPLQDGHVSXÚVGHFRQHFWDUHO HOVLVWHPD$%6(OVLVWHPDGHIUHQRV 6HHQFLHQGHFXDQGROD


HQFHQGLGRVLHOIUHQRGHHVWDFLRQDಢ GHOYHKÞFXORVLJXHHVWDQGRRSHUDWLYR GLUHFFLäQDVLVWLGDHVWÒ
PLHQWRPDQXDOHVWÒDFFLRQDGR SHURVLQODUHJXODFLäQGHO$%6 GHVDFWLYDGD
 6LVWHPDDQWLEORTXHRGHIUHQRV $YHUÞDHQHOVLVWHPDGHODGLUHFFLäQ
 DVLVWLGD5HFXUUDDXQWDOOHU
$FFLRQHHOSHGDO
SDUSDGHDHQDPDULOOR 6HHQFLHQGHHQFDVRGH
3DUSDGHDFXDQGRHVQHFHVDULRDFಢ
&DPELRDXQDPDUFKDPÒV
LQWHUUXSFLäQGHFRUULHQWH
FLRQDUHOSHGDOGHOHPEUDJXHSDUD ODUJD (OVHQVRUGHOÒQJXORGHODGLUHFFLäQ
DUUDQFDUHOPRWRUFRQHOVLVWHPDVWRS >VHHQFLHQGHHQYHUGHFXDQGRVH GHEHFDOLEUDUVHSDUDTXHSXHGDIXQಢ
VWDUW  UHFRPLHQGDFDPELDUDXQDPDUFKD FLRQDUHOVLVWHPDGHODGLUHFFLäQDVLVಢ
3DUSDGHDFXDQGRHVQHFHVDULRSLVDU PÒVODUJDSDUDDKRUUDUFRPEXVWLEOH WLGD
HOSHGDOGHOIUHQRRGHOHPEUDJXH ࿢ 6LGHVHDUHDOL]DUXQDFDOLEUDFLäQ
SDUDDUUDQFDUYHKÞFXORVFRQVLVWHPD 'LUHFFLäQDVLVWLGD DXWRPÒWLFDFRQGX]FDHQOÞQHD
GHOODYHHOHFWUäQLFD  UHFWDDXQDYHORFLGDGEDMDFRQVಢ
FVHHQFLHQGHHQDPDULOOR
WDQWH
6LVWHPDDQWLEORTXHRGH 6HHQFLHQGHFXDQGROD ࿢ 6LHOLQGLFDGRUGHFRQWUROSHUPDಢ
IUHQRV $%6 GLUHFFLäQDVLVWLGDHVOLPLWDGD QHFHLOXPLQDGRJLUHHOYRODQWH
/DGLUHFFLäQDVLVWLGDVHOLPLWDSRUXQ GHVGHODSRVLFLäQOÞPLWHDODSRVLಢ
SVHHQFLHQGHHQDPDULOOR FLäQOÞPLWHSDUDXQDFDOLEUDFLäQPDಢ
VREUHFDOHQWDPLHQWRGHOVLVWHPD(O
6HLOXPLQDGXUDQWHXQRVVHJXQGRV WHVWLJRGHFRQWUROVHDSDJDFXDQGRHO QXDO
GHVSXÚVGHFRQHFWDUHOHQFHQGLGR(O VLVWHPDVHKDHQIULDGR (OLQGLFDGRUGHFRQWUROVHDSDJD
VLVWHPDHVWÒRSHUDWLYRFXDQGRVH FXDQGRHOVLVWHPDVHSRQHGHQXHYR
DSDJDHOWHVWLJRGHFRQWURO HQIXQFLRQDPLHQWR
6LWUDQVFXUULGRVXQRVVHJXQGRVHO 6LVWHPDVWRSVWDUW 
WHVWLJRQRVHDSDJDRVLVHHQFLHQGH
GXUDQWHODPDUFKDKD\XQDDYHUÞDHQ
 ,QVWUXPHQWRV\PDQGRV

$VLVWHQWHGHDSDUFDPLHQWR &RQWUROHOHFWUäQLFRGH 6LVWHPDGHFRQWUROGH


SRUXOWUDVRQLGRV HVWDELOLGDG\VLVWHPDGH WUDFFLäQGHVDFWLYDGR
JVHHQFLHQGHHQDPDULOOR FRQWUROGHWUDFFLäQ NVHHQFLHQGHHQDPDULOOR
$YHUÞDHQHOVLVWHPD EVHHQFLHQGHRSDUSDGHDHQDPDULಢ 6HHQFLHQGHFXDQGRHOVLVWHPDHVWÒ
R OOR GHVDFWLYDGR
$YHUÞDSRUTXHORVVHQVRUHVHVWÒQVXಢ 6HHQFLHQGH
FLRVRFXELHUWRVGHQLHYHRKLHOR
+D\XQDDYHUÞDHQHOVLVWHPD6H
3UHFDOHQWDPLHQWR
R SXHGHFRQWLQXDUFRQGXFLHQGR6LQ VHHQFLHQGHHQDPDULOOR
,QWHUIHUHQFLDVFDXVDGDVSRUIXHQWHV HPEDUJRODHVWDELOLGDGGHPDUFKD 6HHQFLHQGHFXDQGRHVWÒDFWLYDGRHO
H[WHUQDVGHXOWUDVRQLGRV8QDYH]HOLಢ SXHGHHPSHRUDUGHSHQGLHQGRGHOHVಢ SUHFDOHQWDPLHQWR6HDFWLYDVäORVLOD
PLQDGDODIXHQWHGHODVLQWHUIHUHQಢ WDGRGHODFDO]DGD WHPSHUDWXUDH[WHULRUHVEDMD
FLDVHOVLVWHPDIXQFLRQDUÒFRQQRUಢ +DJDVXEVDQDUODFDXVDGHODDYHUÞD
PDOLGDG HQXQWDOOHU )LOWURGHSDUWÞFXODVGLÚVHO
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
GHOVLVWHPDHQXQWDOOHU 3DUSDGHD VHLOXPLQDRSDUSDGHDHQDPDULOOR
,QWHUYHQFLäQDFWLYDGHOVLVWHPD VLHVQHFHVDULROLPSLDUHOILOWURGHSDUಢ
6HQVRUHVGHDSDUFDPLHQWRSRUXOWUDಢ WÞFXODVGLÚVHORODVFRQGLFLRQHVGHFLUಢ
VRQLGRV  3XHGHUHGXFLUVHODSRWHQFLDGHOPRಢ
WRU\HOYHKÞFXORSXHGHIUHQDUVHXQ FXODFLäQQRKDQSHUPLWLGRODOLPSLH]D
SRFRDXWRPÒWLFDPHQWH DXWRPÒWLFD
&RQWUROHOHFWUäQLFRGH &RQWUROHOHFWUäQLFRGHHVWDELOLGDG &RQWLQëHFRQGXFLHQGR\SURFXUHTXH
HVWDELOLGDGGHVDFWLYDGR 6LVWHPDGHFRQWUROGHWUDFFLäQ HOUÚJLPHQGHOPRWRUQREDMHGHODV
 USP
QVHHQFLHQGHHQDPDULOOR
(OLQGLFDGRUVHDSDJDUÒHQFXDQWR
6HHQFLHQGHFXDQGRHOVLVWHPDHVWÒ VHKD\DFRPSOHWDGRODRSHUDFLäQGH
GHVDFWLYDGR DXWROLPSLH]D
,QVWUXPHQWRV\PDQGRV 

6LVHDSDJDHOPRWRUPLHQWUDVHVWH 6LVHHQFLHQGHFRQHOPRWRUHQ WRPÒWLFD $XWRVWRS ODXQLGDGGH


LQGLFDGRUHVWÒHQFHQGLGRRSDUSDಢ PDUFKD VHUYRIUHQRVHPDQWHQGUÒRSHUDಢ
GHDQGRDXPHQWDHOFRQVXPRGH WLYD
FRPEXVWLEOH\VHUHGXFHODYLGDëWLO $WHQFLäQ
GHODFHLWHGHOPRWRU7HQJDHQFXHQWD 1RVDTXHODOODYHKDVWDTXHHOYHಢ
TXHHOFRQGXFWRUGHEHFRQWLQXDUFRQ KÞFXORQRVHHQFXHQWUHGHWHQLGR
/DOXEULFDFLäQGHOPRWRUSXHGHHVಢ 'HORFRQWUDULRHOEORTXHRGHOYRಢ
HOSURFHVRGHUHJHQHUDFLäQHQFRQಢ WDULQWHUUXPSLGD6HSXHGHQRFDಢ
GXFFLäQPRVWUDGRPÒVDUULEDKDVWD ODQWHSRGUÞDDFFLRQDUVHSRUVRUಢ
VLRQDUGDâRVHQHOPRWRU\RHO SUHVD
TXHHOLQGLFDGRUGHOILOWURGHSDUWÞFXODV EORTXHRGHODVUXHGDVPRWULFHV
GLÚVHOVHDSDJXH
&RPSUXHEHHOQLYHOGHDFHLWHDQWHV
3DUDPÒVLQIRUPDFLäQFRQVXOWHODHWLಢ  &DPELRPDQXDOSLVHHOHPEUDಢ GHUHFXUULUDODD\XGDGHXQWDOOHU
TXHWDGHO'3)HQHOLQWHULRUGHOYHಢ JXH 
KÞFXOR  6HOHFFLRQHSXQWRPXHUWRFDPELR
)LOWURGHSDUWÞFXODVGLÚVHO VLVಢ DXWRPÒWLFRSDODQFDVHOHFWRUDHQ
WHPDGHSDUDGDDUUDQTXH  1 1LYHOGHFRPEXVWLEOHEDMR
 $EDQGRQHODFDUUHWHUDORDQWHV LVHHQFLHQGHHQDPDULOOR
3UHVLäQGHDFHLWHGHO SRVLEOHVLQSRQHUHQSHOLJURD 6HHQFLHQGHFXDQGRHOQLYHOHQHOGHಢ
RWURVYHKÞFXORV SäVLWRGHFRPEXVWLEOHHVGHPDVLDGR
PRWRU EDMR
 'HVFRQHFWHHOHQFHQGLGR
(VHHQFLHQGHHQURMR &DWDOL]DGRU 
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\  $GYHUWHQFLD 3XUJDGHOVLVWHPDGHFRPEXVWLEOH
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU GLÚVHO 
HOPRWRU &RQHOPRWRUDSDJDGRVHUÒQHFHಢ
VDULDXQDIXHU]DFRQVLGHUDEOHಢ
PHQWHPD\RUSDUDIUHQDU\JLUDUHO ,QPRYLOL]DGRU
YRODQWH'XUDQWHXQDSDUDGDDXಢ GSDUSDGHDHQDPDULOOR
 ,QVWUXPHQWRV\PDQGRV

6LHOLQGLFDGRUFRQWLQëDLOXPLQDGRR 6HHQFLHQGHFXDQGRHVWÒFRQHFWDGR 3XHUWDDELHUWD


SDUSDGHDFRQHOHQFHQGLGRDFWLYDGR HOSLORWRDQWLQLHEOD 
KD\XQIDOORHQHOVLVWHPD1RVH KVHHQFLHQGHHQURMR
SXHGHDUUDQFDUHOPRWRU 6HHQFLHQGHFXDQGRVHDEUHXQD
6HQVRUGHOOXYLD SXHUWDRHOSRUWäQWUDVHUR
VHHQFLHQGHHQYHUGH
/XFHVH[WHULRUHV
6HHQFLHQGHFXDQGRHOVHQVRUGHOOXಢ
VHHQFLHQGHHQYHUGH YLDDXWRPÒWLFRHVWÒDFWLYDGR 
6HHQFLHQGHFXDQGRHVWÒQFRQHFWDಢ
GDVODVOXFHVH[WHULRUHV 
5HJXODGRUGHYHORFLGDG
>VHHQFLHQGHHQEODQFRRYHUGH
/X]GHFDUUHWHUD
!VHHQFLHQGHHQD]XO 6HHQFLHQGHHQEODQFR
6HHQFLHQGHFXDQGRHVWÒFRQHFWDGD (OVLVWHPDHVWÒHQFHQGLGR
ODOX]GHFDUUHWHUD\FXDQGRVHDFFLRಢ
QDQODVUÒIDJDV  6HHQFLHQGHHQYHUGH
6HKDPHPRUL]DGRXQDYHORFLGDGGHಢ
WHUPLQDGD
/XFHVDQWLQLHEOD 5HJXODGRUGHYHORFLGDG 
VHHQFLHQGHHQYHUGH
6HHQFLHQGHFXDQGRHVWÒQFRQHFWDಢ
GRVORVIDURVDQWLQLHEOD 
&DSäDELHUWR
VHHQFLHQGHHQDPDULOOR
3LORWRDQWLQLHEOD 6HHQFLHQGHFXDQGRHOFDSäHVWÒ
DELHUWR
PVHHQFLHQGHHQDPDULOOR
6LVWHPDVWRSVWDUW 
,QVWUXPHQWRV\PDQGRV 

3DQWDOODVGH (QODSDQWDOODGHJDPDPHGLDVH ࿢ ;0HQëGHLQIRUPDFLäQGHO


SXHGHQVHOHFFLRQDUORVVLJXLHQWHV YHKÞFXOR
LQIRUPDFLäQ PHQëVSULQFLSDOHVSXOVDQGRHOERWäQ ࿢ :0HQëGHLQIRUPDQFLäQYLDMH
0(18 FRPEXVWLEOH
&HQWURGHLQIRUPDFLäQGHO ࿢ 0HQëGHLQIRUPDFLäQGHOYHKÞFXOR
FRQGXFWRU ࿢ 0HQëGHLQIRUPDQFLäQYLDMH 6HOHFFLäQGHPHQëV\IXQFLRQHV
FRPEXVWLEOH /RVPHQëV\ODVIXQFLRQHVVHSXHGHQ
VHOHFFLRQDUPHGLDQWHORVERWRQHVHQ
ODSDODQFDGHORVLQWHUPLWHQWHV

(OFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRU ',& HVWÒVLWXDGRHQHOFXDGURGH (QODSDQWDOODGHJDPDDOWDORVPHಢ
LQVWUXPHQWRV\HVWÒGLVSRQLEOHFRPR QëVSULQFLSDOHVSXHGHQVHOHFFLRಢ
SDQWDOODGHJDPDPHGLDRSDQWDOODGH QDUVHSXOVDQGRHOERWäQ0(18/RV 3XOVHHOERWäQ0(18SDUDFDPELDU
JDPDDOWD VÞPERORVGHORVPHQëVVHPXHVWUDQ HQWUHPHQëVRSDUDYROYHUGHXQVXEಢ
HQODOÞQHDVXSHULRUGHODSDQWDOOD PHQëDOVLJXLHQWHQLYHOVXSHULRUGHO
PHQë
 ,QVWUXPHQWRV\PDQGRV

3XOVHHOERWäQ6(7&/5SDUDVHOHFಢ *LUHODUXHGDGHDMXVWHSDUDVHOHFFLRಢ
FLRQDUXQDIXQFLäQRFRQILUPDUXQ QDUXQVXEPHQë3XOVHHOERWäQ6(7
PHQVDMH &/5SDUDFRQILUPDU
3HUVRQDOL]DFLäQGHOYHKÞFXOR 
2UGHQDGRUGHDERUGR 

0HQëGHLQIRUPDFLäQGHO
YHKÞFXOR
3XOVHHOERWäQ0(18SDUDVHOHFFLRಢ
QDUHO0HQëGHLQIRUPDFLäQGHO
YHKÞFXORRVHOHFFLRQH;HQODSDQಢ
WDOODGHJDPDDOWD
*LUHODUXHGDGHDMXVWHSDUDUHVDOWDU
XQDRSFLäQGHOPHQëRSDUDHVWDEOHಢ *LUHODUXHGDGHDMXVWHSDUDVHOHFFLRಢ
FHUXQYDORUQXPÚULFR QDUXQVXEPHQë3XOVHHOERWäQ6(7
&/5SDUDFRQILUPDU
6LJDODVLQVWUXFFLRQHVGDGDVHQHO ࿢ &XHQWDNLOäPHWURVSDUFLDO
VXEPHQë ࿢ &XHQWDNLOäPHWURVSDUFLDO
࿢ 8QLGDGVHSXHGHQFDPELDUODVXQLಢ (QYHKÞFXORVFRQRUGHQDGRUGHD
GDGHVPRVWUDGDVHQSDQWDOOD ERUGRHQFRQWUDUÒPÒVVXEPHQëV
0HQëGHLQIRUPDFLäQGHYLDMHFRPಢ
0HQëGHLQIRUPDQFLäQYLDMH EXVWLEOHRUGHQDGRUGHDERUGR
FRPEXVWLEOH 
3UHVLRQHHOERWäQ0(18SDUDVHOHFಢ
FLRQDU0HQëGHLQIRUPDQFLäQYLDMH
FRPEXVWLEOHR:HQODSDQWDOOD
FRPELGHDOWDJDPD
,QVWUXPHQWRV\PDQGRV 

3DQWDOODGHLQIRUPDFLäQ
JUÒILFDSDQWDOODGH
LQIRUPDFLäQHQFRORU
'HSHQGLHQGRGHODFRQILJXUDFLäQGHO
YHKÞFXORSXHGHWHQHUXQD
࿢ 3DQWDOODGHLQIRUPDFLäQJUÒILFD
R
࿢ 3DQWDOODGHLQIRUPDFLäQHQFRORU
FRQIXQFLäQGHSDQWDOODWÒFWLO

3DQWDOODGHLQIRUPDFLäQJUÒILFD &' 6HDFFHGHDORVPHQëV\ORVDMXVWHV


'HSHQGLHQGRGHOVLVWHPDGHLQIRHQಢ PHGLDQWHODSDQWDOOD
WUHWHQLPLHQWRODSDQWDOODGHLQIRUPDಢ
FLäQJUÒILFDHVWÒGLVSRQLEOHHQWUHV /DSDQWDOODGHLQIRUPDFLäQJUÒILFDLQಢ
YHUVLRQHV GLFDORVLJXLHQWH
&' ࿢ KRUD 
࿢ WHPSHUDWXUDH[WHULRU 
࿢ IHFKD 
࿢ DMXVWHVGHOFOLPDWL]DGRUDXWRPÒWLFR
HOHFWUäQLFR 
࿢ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
YÚDVHODGHVFULSFLäQGHOPDQXDOGHO
VLVWHPDGHLQIRHQWUHWHQLPLHQWR
6LVWHPDGHDXGLR ࿢ DMXVWHVGHSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR 
 ,QVWUXPHQWRV\PDQGRV

6HOHFFLäQFRQORVVLVWHPDVGH 6HOHFFLäQFRQHOVLVWHPDGH
LQIRHQWUHWHQLPLHQWR&'&' LQIRHQWUHWHQLPLHQWR6LVWHPDGHDXGLR
3XOVHHOERWäQ&21),*SDUDDFFHGHU
DOPHQëGH&RQILJXUDFLäQGHOVLVಢ
WHPD
*LUHHOERWäQ0(18781(SDUDVHಢ
OHFFLRQDUXQDMXVWHRXQYDORU
3XOVHHOERWäQ0(18781(SDUD
FRQILUPDUXQDMXVWHRXQYDORU
3XOVHHOERWäQ%$&.SDUDVDOLUGHXQ
PHQë

3DQWDOODGHLQIRUPDFLäQHQFRORU 6HDFFHGHDORVPHQëV\ORVDMXVWHV
(QIXQFLäQGHOVLVWHPDGHLQIRHQWUHಢ PHGLDQWHODSDQWDOOD
SXOVHHOERWäQ&21),*$SDUHFHOD WHQLPLHQWRODSDQWDOODGHLQIRUPDFLäQ /DSDQWDOODGHLQIRUPDFLäQHQFRORU
SÒJLQDGHOPHQë$MXVWHV HQFRORUHVWÒGLVSRQLEOHHQGRVYHUಢ LQGLFDORVLJXLHQWH
VLRQHV 0\/LQNFRQVXOWHHOJUÒILFRVLಢ ࿢ KRUD 
*LUHHOERWäQ0(18SDUDVHOHFFLRQDU
JXLHQWH\1DYL 
XQDMXVWHRXQYDORU ࿢ WHPSHUDWXUDH[WHULRU 
3XOVHHOERWäQ0(18SDUDFRQILUPDU ࿢ IHFKD 
XQDMXVWHRXQYDORU ࿢ DMXVWHVGHOFOLPDWL]DGRUDXWRPÒWLFR
3XOVHHOERWäQ%$&.SDUDVDOLUGHXQ HOHFWUäQLFR 
PHQë ࿢ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
YÚDVHODGHVFULSFLäQGHOPDQXDOGHO
VLVWHPDGHLQIRHQWUHWHQLPLHQWR
࿢ DMXVWHVGHSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR 
,QVWUXPHQWRV\PDQGRV 

6HOHFFLäQFRQHOVLVWHPDGH 0HQVDMHVGHOYHKÞFXOR 0HQVDMHVGHOYHKÞFXORGHOD


LQIRHQWUHWHQLPLHQWR0\/LQN SDQWDOODGHJDPDPHGLD
3XOVH$SDUHFHODSÒJLQDGHO /RVPHQVDMHVDSDUHFHQHQHOFHQWUR
PHQëFRQILJXUDFLäQ GHLQIRUPDFLäQGHOFRQGXFWRU ',& 
3XOVHHOHOHPHQWRGHOPHQëTXHGHಢ HQODSDQWDOODGHLQIRUPDFLäQRVHLQಢ
VHHVHOHFFLRQDUHQODSDQWDOOD\FRQಢ GLFDQPHGLDQWHVHâDOHV\DYLVRV
ILUPH DFëVWLFRV&RQILUPHORVPHQVDMHVGH
3XOVHTSDUDVDOLUGHXQPHQë DGYHUWHQFLDFRQHOERWäQPXOWLIXQಢ
FLäQ
6HOHFFLäQFRQHOVLVWHPDGH (OYHKÞFXORRHOPRWRUSXHGHVXIULU
LQIRHQWUHWHQLPLHQWR1DYL JUDYHVGDâRVVLFRQWLQëDFRQGXಢ
3XOVHHOERWäQ&21),*SDUDDFFHGHU FLHQGRPLHQWUDVKD\HQFHQGLGRXQ
DOPHQëGH&RQILJXUDFLäQGHOVLVಢ PHQVDMHGHOYHKÞFXORHQHO',&5Hಢ
WHPD FXUUDLQPHGLDWDPHQWHDXQVHUYLFLR
*LUHHOERWäQ0HQX6(/SDUDVHOHFಢ GHWDOOHU
FLRQDUXQDMXVWHRXQYDORU /RVPHQVDMHVGHOYHKÞFXORVHPXHVಢ
WUDQFRPRFäGLJRVQXPÚULFRV
3XOVHHOERWäQ0HQX6(/SDUDFRQಢ
ILUPDUXQDMXVWHRXQYDORU 1« 0HQVDMHGHOYHKÞFXOR
3XOVHHOERWäQ%$&.SDUDVDOLUGHXQ  1RVHGHWHFWDQLQJëQPDQGRD
PHQë GLVWDQFLDSXOVHHOSHGDOGHO
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR HPEUDJXHSDUDUHLQLFLDU
SXHGHFRQWURODUVHWDPELÚQXVDQGR
ORVERWRQHVGHODSDQWDOODWÒFWLO  &ROXPQDGHODGLUHFFLäQ
EORTXHDGD
 $YHUÞDGHOLQWHUPLWHQWHGHODQಢ
WHURL]TXLHUGR
 ,QVWUXPHQWRV\PDQGRV

1« 0HQVDMHGHOYHKÞFXOR 1« 0HQVDMHGHOYHKÞFXOR 0HQVDMHVGHOYHKÞFXORGHOD


SDQWDOODGHJDPDDOWD
 $YHUÞDGHOLQWHUPLWHQWHWUDVHUR  &DPELHHODFHLWHGHOPRWRU
L]TXLHUGR SURQWR
 $YHUÞDGHOLQWHUPLWHQWHGHODQಢ  3RWHQFLDGHOPRWRUUHGXFLGD
WHURGHUHFKR
 5HYLVLäQXUJHQWHGHOYHKÞFXOR
 $YHUÞDGHOLQWHUPLWHQWHWUDVHUR
GHUHFKR  0DQGRDGLVWDQFLDQRGHWHFಢ
WDGRFDPELHODSRVLFLäQGHOD
 6XVWLWX\DODSLODGHOPDQGRD OODYHHOHFWUäQLFDRXVHODWRPD
GLVWDQFLD VLWXDGDHQODFRQVRODFHQWUDO
 /LPSLHHOVLVWHPDGHDOHUWDGH  0DQGRDGLVWDQFLDQRGHWHFಢ
SXQWRFLHJRODWHUDO WDGRSLVHHOIUHQRSDUDYROYHUD
DUUDQFDU
 $JXDHQHOILOWURGHOFRPEXVWLEOH
 &DPELHDODSRVLFLäQGHHVWDಢ /RVPHQVDMHVGHOYHKÞFXORVHPXHVಢ
 ,QWHQWRGHURER FLRQDPLHQWR WUDQFRPRWH[WR6LJDODVLQVWUXFFLRಢ
QHVTXHDSDUHFHQHQORVPHQVDMHV
 5HYLVLäQGHOEORTXHRGHOD  5HYLVLäQGHODLUEDJ
FROXPQDGHODGLUHFFLäQ (OVLVWHPDPXHVWUDPHQVDMHVUHODFLRಢ
 )DOORGHODVLVWHQWHGHDSDUFDಢ QDGRVFRQORVWHPDVVLJXLHQWHV
 5HYLVLäQGHODLUHDFRQGLFLRQDGR PLHQWROLPSLHHOSDUDFKRTXHV ࿢ 1LYHOHVGHOÞTXLGRV
 5HYLVLäQGHOVLVWHPDGHDOHUWD  $VLVWHQWHGHDSDUFDPLHQWR ࿢ 6LVWHPDGHDODUPDDQWLUURER
GHSXQWRFLHJRODWHUDO ࿢ )UHQRV
 5HOOHQHHODFHLWHGHPRWRU ࿢ 6LVWHPDVGHWUDFFLäQ
 ࿢ 6LVWHPDVGHFRQWUROGHODFRQGXFಢ
 5HYLVLäQGHODFDMDGHFDPELRV FLäQ
࿢ 5HJXODGRUGHYHORFLGDG
,QVWUXPHQWRV\PDQGRV 

࿢ 6LVWHPDVGHGHWHFFLäQGHREMHWRV ࿢ 6LDSDUHFHXQFäGLJRGHDGYHUWHQಢ 2UGHQDGRUGHDERUGR


࿢ ,OXPLQDFLäQVXVWLWXFLäQGHERPELಢ FLDHQHOFHQWURGHLQIRUPDFLäQGHO
OODV FRQGXFWRU
/RVPHQëV\ODVIXQFLRQHVVHSXHGHQ
࿢ 6LVWHPDOLPSLD\ODYDSDUDEULVDV ࿢ 6LHODVLVWHQWHGHDSDUFDPLHQWRGHಢ VHOHFFLRQDUPHGLDQWHORVERWRQHVHQ
WHFWDXQREMHWR ODSDODQFDGHORVLQWHUPLWHQWHV 
࿢ 3XHUWDVYHQWDQLOODV
࿢ 0DQGRDGLVWDQFLD &XDQGRHOYHKÞFXORHVWÒ
࿢ &LQWXURQHVGHVHJXULGDG HVWDFLRQDGR\RVHDEUHXQD
࿢ 6LVWHPDVGHDLUEDJV SXHUWD
࿢ 0RWRU\FDMDGHFDPELRV ࿢ +DVWDTXHHOPRWRUDUUDQTXHFRQOD
OODYHHQODFHUUDGXUDGHOHQFHQGLGR
࿢ 3UHVLäQGHORVQHXPÒWLFRV
࿢ &RQODVOXFHVH[WHULRUHVHQFHQGLಢ
࿢ )LOWURGHSDUWÞFXODVGLÚVHO GDV
࿢ %DWHUÞD
'XUDQWHXQDSDUDGDDXWRPÒWLFD
$YLVRVDFëVWLFRV $XWRVWRS
࿢ 6LVHDEUHODSXHUWDGHOFRQGXFWRU
$ODUUDQFDUHOPRWRURGXUDQWHOD 3XOVHHOERWäQ0(18SDUDVHOHFFLRಢ
PDUFKD QDUHO0HQëGHLQIRUPDQFLäQYLDMH
࿢ 6LQRVHKDDEURFKDGRHOFLQWXUäQ FRPEXVWLEOHRVHOHFFLRQH:HQOD
GHVHJXULGDG SDQWDOODGHJDPDDOWD
࿢ 6LVHVREUHSDVDXQDGHWHUPLQDGD
YHORFLGDGFRQHOIUHQRGHHVWDFLRಢ
QDPLHQWRDFFLRQDGR
 ,QVWUXPHQWRV\PDQGRV

RIUHFLHQGRDVÞODSRVLELOLGDGGHYHULQಢ
IRUPDFLäQGHYLDMHGLYHUVDSDUDGLIHಢ
UHQWHVFRQGXFWRUHV
3DUDUHLQLFLDUPDQWHQJDSXOVDGRHO
ERWäQ6(7&/5HQFDGDPRGRGXಢ
UDQWHXQRVVHJXQGRV

*LUHODUXHGDGHDMXVWHSDUDVHOHFFLRಢ 3DUDUHLQLFLDUPDQWHQJDSXOVDGRHO
QDUXQRGHORVVXEPHQëV ERWäQGHDMXVWHRHOERWäQ6(7&/5
࿢ &XHQWDNLOäPHWURVSDUFLDO GXUDQWHXQRVVHJXQGRV
࿢ &XHQWDNLOäPHWURVSDUFLDO $OFDQFH
࿢ $OFDQFH (ODOFDQFHVHFDOFXODDSDUWLUGHOFRQಢ
࿢ &RQVXPRPHGLR WHQLGRDFWXDOGHOGHSäVLWR\GHOFRQಢ
࿢ &RQVXPRLQVWDQWÒQHR &XHQWDNLOäPHWURVSDUFLDO VXPRLQVWDQWÒQHR/DSDQWDOODPXHVಢ
(OFXHQWDNLOäPHWURVSDUFLDOPXHVWUD WUDYDORUHVSURPHGLR
࿢ 9HORFLGDGPHGLD
ODGLVWDQFLDUHJLVWUDGDGHVGHXQUHVಢ 'HVSXÚVGHUHSRVWDUHODOFDQFHVH
2UGHQDGRUGHDERUGR\ WDEOHFLPLHQWRGHWHUPLQDGR DFWXDOL]DDXWRPÒWLFDPHQWHDOSRFR
(OFXHQWDNLOäPHWURVSDUFLDOFRQWDELಢ WLHPSR
/DLQIRUPDFLäQGHORVGRVRUGHQDGRಢ
UHVGHDERUGRVHSXHGHUHLQLFLDUSRU OL]DKDVWDNLOäPHWURVGHGLVWDQಢ 6LHOQLYHOGHFRPEXVWLEOHHQHOGHSäಢ
VHSDUDGRSDUDHOFXHQWDNLOäPHWURVHO FLD\OXHJRVHSRQHD VLWRHVEDMRDSDUHFHXQPHQVDMHHQ
FRQVXPRPHGLR\ODYHORFLGDGPHGLD HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRU
,QVWUXPHQWRV\PDQGRV 

$GHPÒVVHHQFLHQGHHOWHVWLJRGH 9HORFLGDGPHGLD 3HUVRQDOL]DFLäQGHO


FRQWUROLHQHOLQGLFDGRUGHFRPಢ ,QGLFDFLäQGHODYHORFLGDGPHGLD/D
EXVWLEOH PHGLFLäQSXHGHUHLQLFLDUVHHQFXDOಢ
YHKÞFXOR
TXLHUPRPHQWR
&RQVXPRPHGLR /RVSDUÒPHWURVGHOYHKÞFXORVHSXHಢ
3DUDUHLQLFLDUPDQWHQJDSXOVDGRHO GHQSHUVRQDOL]DUFDPELDQGRORVDMXVಢ
,QGLFDFLäQGHOFRQVXPRPHGLR/D
ERWäQ6(7&/5GXUDQWHXQRVVHJXQಢ WHVHQHOFHQWURGHLQIRUPDFLäQGHO
PHGLFLäQSXHGHUHLQLFLDUVHHQFXDOಢ
GRV FRQGXFWRU\HQODSDQWDOODGHLQIRUPDಢ
TXLHUPRPHQWR
FLäQ
3DUDUHLQLFLDUPDQWHQJDSXOVDGRHO
ERWäQ6(7&/5GXUDQWHXQRVVHJXQಢ 'HSHQGLHQGRGHOHTXLSDPLHQWRGHO
GRV YHKÞFXORHVSRVLEOHTXHDOJXQDVGH
ODVIXQFLRQHVGHVFULWDVDFRQWLQXDಢ
&RQVXPRLQVWDQWÒQHR FLäQQRHVWÚQGLVSRQLEOHV
,QGLFDFLäQGHOFRQVXPRLQVWDQWÒQHR
$YHORFLGDGHVEDMDVVHPXHVWUDHO $MXVWHVGHOFHQWURGH
FRQVXPRSRUKRUD LQIRUPDFLäQGHOFRQGXFWRU
/RVDMXVWHVGH8QLGDGVHSXHGHQVHಢ
$WHQFLäQ OHFFLRQDUPHGLDQWHORVERWRQHVHQOD
SDODQFDGHORVLQWHUPLWHQWHV
(OFRQVXPRLQVWDQWÒQHR\PHGLR
GHFRPEXVWLEOHSXHGHQYDULDUVHಢ
JëQODVFRQGLFLRQHVGHFRQGXFಢ
FLäQHOHVWLORGHFRQGXFFLäQROD
YHORFLGDGGHOYHKÞFXOR
 ,QVWUXPHQWRV\PDQGRV

$SDUHFHHOPHQëGHDMXVWHVGH
8QLGDG
6HSXHGHQFDPELDUODVXQLGDGHV
PRVWUDGDVHQSDQWDOOD
3XOVHHOERWäQ6(7&/5\JLUHOD
UXHGDGHDMXVWHSDUDVHOHFFLRQDUXQD
GHODVXQLGDGHV
࿢ 8QLGDG*UDQ%UHWDâD
࿢ 8QLGDG(VWDGRV8QLGRV
࿢ 8QLGDG(XURSD
3XOVHHOERWäQ6(7&/5SDUDFRQILUಢ
3XOVHHOERWäQ0(18SDUDVHOHFFLRಢ PDU &XDQGRHVWÚFRQHFWDGRHODXGLR
QDUHO0HQëGHLQIRUPDFLäQGHO SXOVHHOERWäQ&21),*$SDUHFHHO
YHKÞFXORRVHOHFFLRQH;HQODSDQಢ $MXVWHVGHODSDQWDOODGH PHQë$MXVWHV
WDOODGHJDPDDOWD LQIRUPDFLäQ
&'&'
,QVWUXPHQWRV\PDQGRV 

0HGLDQWHHOERWäQ0(18VHSXHGHQ $MXVWHVGHOYHKÞFXOR ࿢ $MXVWHVGHFRQIRUW


VHOHFFLRQDUORVVLJXLHQWHVDMXVWHV 9ROXPHQGHDYLVRV&DPELDHOYRಢ
࿢ ,GLRPDV /DQJXDJHV OXPHQGHORVDYLVRVDFëVWLFRV
࿢ +RUD\IHFKD /LPSLDSDUWUDVDXWRPDWUÒV$Fಢ
࿢ $MXVWHVGHODUDGLR WLYDRGHVDFWLYDODFRQH[LäQDXWRಢ
PÒWLFDGHOOLPSLDOXQHWDFXDQGRVH
࿢ $MXVWHVGHOYHKÞFXOR HQJUDQDODPDUFKDDWUÒV
/RVVLJXLHQWHVDMXVWHVSXHGHQFDPಢ ࿢ 'HWHFFLäQFROLVLRQHVD\XGDHVWDF
ELDUVHHQORVVXEPHQëVFRUUHVSRQಢ
GLHQWHV $\XGDDOHVWDFLRQDPLHQWR$FWLYDR
GHVDFWLYDORVVHQVRUHVGHXOWUDVRಢ
,GLRPDV /DQJXDJHV QLGRV
6HOHFFLäQGHOLGLRPDGHVHDGR $YLVRÒQJXORPXHUWRODWHUDO$FWLYD
RGHVDFWLYDHOVLVWHPDGHDOHUWDGH
+RUD\IHFKD ࿢ 7HPSHUDWXUD\FDOLGDGGHODLUH SXQWRFLHJRODWHUDO
9ÚDVHODVHFFLäQ5HORM \HOPDಢ 9HORFLGDGYHQWLODGRUDXWRP0RGLಢ ࿢ ,OXPLQDFLäQDPELHQWHH[WHULRU
QXDOGHOVLVWHPDGHLQIRHQWUHWHQLಢ ILFDODYHORFLGDGGHOYHQWLODGRU
PLHQWRSDUDPÒVLQIRUPDFLäQ DOWDPHGLDEDMD ,OXPLQDFLäQH[WHULRUDODEULU$FWLYD
RGHVDFWLYDODLOXPLQDFLäQGHHQಢ
$MXVWHVGHODUDGLR 5HFLUFXODFLäQDLUHDXWRPÒW0RGLಢ WUDGD
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ ILFDODVHQVLELOLGDGGHOVHQVRUGH
FDOLGDGGHODLUH $46 EDMDDOWD 'XUDFLäQDOVDOLUGHOYHKÞFXOR$Fಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ WLYDRGHVDFWLYD\FDPELDODGXUDಢ
FLäQ 'HVHPSDâDPLHQWRDXWRPÒWDFWLಢ FLäQGHODLOXPLQDFLäQDOVDOLU
YDGRGHVDFWLYDGR DFWLYDRGHVDFಢ
WLYDHOGHVHPSDâDGRDXWRPÒWLFR  ࿢ &LHUUHFHQWUDOL]DGR
'HVHPSDâDPLHQWRWUDVDXWRDFWLಢ &LHUUHDXWRPÒWLFRGHSXHUWDV$Fಢ
YDGRGHVDFWLYDGR DFWLYDRGHVDFಢ WLYDRGHVDFWLYDODIXQFLäQGHEORಢ
WLYDHOGHVHPSDâDGRWUDVHURDXWRಢ TXHRDXWRPÒWLFRGHSXHUWDV
PÒWLFR 
 ,QVWUXPHQWRV\PDQGRV

$SHUWXUDDXWRPÒWLFDSXHUWDV&DPಢ ,GLRPDV /DQJXDJHV


ELDODFRQILJXUDFLäQSDUDGHVEORಢ 6HOHFFLäQGHOLGLRPDGHVHDGR
TXHDUVäORODSXHUWDGHOFRQGXFWRU
RWRGDVODVSXHUWDVDODFFLRQDUHO &RQILJXUDFLäQGHKRUD\IHFKD
GHVEORTXHR 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
࿢ $SHUWXUDFLHUUHDUUDQTXHUHPRWR IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
FLäQ
5HVSXHVWDFLHUUHDGLVWDQFLD$Fಢ
WLYDRGHVDFWLYDODFRQILUPDFLäQGH $MXVWHVGHODUDGLR
ODVOXFHVGHHPHUJHQFLDDODFFLRಢ 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
QDUHOEORTXHR IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
3XHUWDFRQG WRGDVSXOVDU›YH]  FLäQ
&DPELDODFRQILJXUDFLäQSDUDGHVಢ
EORTXHDUVäORODSXHUWDGHOFRQGXFಢ 3XOVHHOERWäQ&21),*SDUDDFFHGHU &RQILJXUDFLäQ%OXHWRRWK
WRURWRGRHOYHKÞFXORDODFFLRQDUHO DOPHQëGH&RQILJXUDFLäQGHOVLVಢ 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
GHVEORTXHR WHPD IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
*LUHHOPDQGR0(18781(SDUDDFಢ FLäQ
$MXVWHVGHODSDQWDOODGH FHGHUDOPHQëGHVHDGR\OXHJRSXOVH
LQIRUPDFLäQ HOERWäQ0(18781( $MXVWHVGHOYHKÞFXOR
࿢ 7HPSHUDWXUD\FDOLGDGGHODLUH
6LVWHPDGHDXGLR ࿢ ,GLRPDV /DQJXDJHV
9HORFLGDGYHQWLODGRUDXWRP0RGLಢ
࿢ &RQILJXUDFLäQGHKRUD\IHFKD ILFDODYHORFLGDGGHOYHQWLODGRU
࿢ $MXVWHVGHODUDGLR DOWDPHGLDEDMD
࿢ &RQILJXUDFLäQ%OXHWRRWK 5HFLUFXODFLäQDLUHDXWRPÒW0RGLಢ
࿢ $MXVWHVGHOYHKÞFXOR ILFDODVHQVLELOLGDGGHOVHQVRUGH
FDOLGDGGHODLUH $46 EDMDDOWD
/RVVLJXLHQWHVDMXVWHVSXHGHQFDPಢ
ELDUVHHQORVVXEPHQëVFRUUHVSRQಢ 'HVHPSDâDPLHQWRDXWRPÒW$FWLಢ
GLHQWHV YDGRGHVDFWLYDGR DFWLYDRGHVDFಢ
WLYDHOGHVHPSDâDGRDXWRPÒWLFR 
,QVWUXPHQWRV\PDQGRV 

'HVHPSDâDGRDXWRPÒWLFR $FWLYDRGHVDFWLYD\FDPELDODGXಢ FRQGXFWRURWRGRHOYHKÞFXORDOGHVಢ


$FWLYDGRGHVDFWLYDGR DFWLYDR UDFLäQGHODLOXPLQDFLäQDOVDOLU EORTXHDU
GHVDFWLYDHOGHVHPSDâDGRWUDVHUR ࿢ &LHUUHFHQWUDOL]DGR ࿢ 5HVWDEOHFHUDMXVWHVGHIÒEULFD
DXWRPÒWLFR  $SHUWXUDDXWRPÒWLFDSXHUWDV$Fಢ 5HVWDEOHFHWRGRVORVDMXVWHVDORV
࿢ &RQIRUW\FRPRGLGDG WLYDRGHVDFWLYDODIXQFLäQGHEORಢ YDORUHVSUHGHWHUPLQDGRV
9ROXPHQGHDYLVRV&DPELDHOYRಢ TXHRDXWRPÒWLFRGHSXHUWDVGHVಢ
OXPHQGHORVDYLVRVDFëVWLFRV SXÚVGHGHVFRQHFWDUHOHQFHQGLGR $MXVWHVGHODSDQWDOODGH
/LPSLDOXQHWDDXWRPÒWLFRFRQ 3UHYHQLUEORTXHRFRQODSXHUWD LQIRUPDFLäQ
PDUFKDDWUÒV DELHUWD$FWLYDRGHVDFWLYDODIXQಢ 0\/LQN
FLäQGHEORTXHRDXWRPÒWLFRGH
$FWLYDRGHVDFWLYDODFRQH[LäQDXಢ SXHUWDVPLHQWUDVKD\XQDSXHUWD
WRPÒWLFDGHOOLPSLDOXQHWDFXDQGR DELHUWD
VHHQJUDQDODPDUFKDDWUÒV
࿢ %ORTXHRGHVEORTXHR\DUUDQTXHD
࿢ 6LVWHPDVGHGHWHFFLäQGH GLVWDQFLD
FROLVLRQHV
&RQILUPDFLäQOXPLQRVDGHO
$\XGDDOHVWDFLRQDPLHQWR$FWLYDR GHVEORTXHRDGLVWDQFLD
GHVDFWLYDORVVHQVRUHVGHXOWUDVRಢ
QLGRV $FWLYDRGHVDFWLYDODFRQILUPDFLäQ
GHODVOXFHVGHHPHUJHQFLDDOGHVಢ
$YLVRÒQJXORPXHUWRODWHUDO$FWLYD EORTXHDU
RGHVDFWLYDHOVLVWHPDGHDOHUWDGH
SXQWRFLHJRODWHUDO 5HVSXHVWDFLHUUHDGLVWDQFLD$Fಢ
WLYDRGHVDFWLYDODFRQILUPDFLäQGH
࿢ ,OXPLQDFLäQ ODVOXFHVGHHPHUJHQFLDDODFFLRಢ &XDQGRHVWÚFRQHFWDGRHODXGLR
/XFHVGHORFDOL]DFLäQGHOYHKÞFXOR QDUHOEORTXHR SXOVHHOERWäQHQHOSDQHOGHPDQಢ
$FWLYDRGHVDFWLYDODLOXPLQDFLäQGH 'HVEORTXHRGHSXHUWDVD GRV
HQWUDGD GLVWDQFLD&DPELDODFRQILJXUDFLäQ 3XOVHDMXVWHV
,OXPLQDFLäQGHVDOLGD SDUDGHVEORTXHDUVäORODSXHUWDGHO
 ,QVWUXPHQWRV\PDQGRV

6HSXHGHQVHOHFFLRQDUORVVLJXLHQWHV DMXVWHVGHOYHKÞFXOR ࿢ GHWHFFLäQGHFROLVLRQHV


PHQëV ࿢ FOLPD\FDOLGDGGHODLUH DVLVWHQWHGHDSDUFDPLHQWR$FWLYD
࿢ DMXVWHVGHKRUD\IHFKD YHORFLGDGDXWRPÒWLFDGHO RGHVDFWLYDORVVHQVRUHVGHXOWUDಢ
࿢ DMXVWHVGHODUDGLR YHQWLODGRU0RGLILFDODYHORFLGDGGHO VRQLGRV
YHQWLODGRUDOWDPHGLDEDMD DOHUWDGH]RQDFLHJDODWHUDO$FWLYD
࿢ DMXVWHVGHFRQH[LäQ
VHQVRUGHFDOLGDGGHODLUH0RGLILFD RGHVDFWLYDHOVLVWHPDGHDOHUWDGH
࿢ DMXVWHVGHOYHKÞFXOR SXQWRFLHJRODWHUDO
ODVHQVLELOLGDGGHOVHQVRUGHFDOLಢ
࿢ LGLRPD GDGGHODLUH $46 EDMDDOWD ࿢ LOXPLQDFLäQ
/RVVLJXLHQWHVDMXVWHVSXHGHQFDPಢ PRGRGHODLUHDFRQGLFLRQDGRDFWLಢ LOXPLQDFLäQGHVDOLGD'HVDFWLಢ
ELDUVHHQORVVXEPHQëVFRUUHVSRQಢ YDGRGHVDFWLYDGRëOWLPRDMXVWH YDGDVVV
GLHQWHV
GHVHPSDâDGRDXWRPÒWLFRDFWLಢ OXFHVGHORFDOL]DFLäQGHOYHKÞFXOR
DMXVWHVGHKRUD\IHFKD YDGRGHVDFWLYDGR 6HOHFFLRQHDFWLYDFLäQRGHVDFWLYDಢ
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ GHVHPSDâDGRDXWRPÒWLFRGHOD FLäQ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ OXQHWDWUDVHUDDFWLYDGRGHVDFWLಢ ࿢ FHUUDGXUDVGHSXHUWDVHOÚFWULFDV
FLäQ YDGR
SUHYHQLUEORTXHRFRQODSXHUWD
࿢ FRQIRUW\FRPRGLGDG DELHUWD6HOHFFLRQHDFWLYDFLäQRGHಢ
DMXVWHVGHODUDGLR
YROXPHQGHORVDYLVRVDFëVWLFRV VDFWLYDFLäQ
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ &DPELDHOYROXPHQGHORVDYLVRV EORTXHRGHSXHUWDVUHWDUGDGR6Hಢ
FLäQ DFëVWLFRV OHFFLRQHDFWLYDFLäQRGHVDFWLYDಢ
OLPSLDOXQHWDDXWRPÒWLFRFRQ FLäQ
DMXVWHVGHFRQH[LäQ PDUFKDDWUÒV$FWLYDRGHVDFWLYDOD ࿢ DMXVWHVGHEORTXHRGHVEORTXHR
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ FRQH[LäQDXWRPÒWLFDGHOOLPSLDOXಢ
GHVEORTXHRGHHQWUDGDSDVLYD6Hಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ QHWDFXDQGRVHHQJUDQDODPDUFKD
OHFFLRQHWRGDVODVSXHUWDVSXHUWD
FLäQ DWUÒV
GHOFRQGXFWRU
FRQILUPDFLäQOXPLQRVDGHO
GHVEORTXHRDGLVWDQFLD6HOHFFLRQH
,QVWUXPHQWRV\PDQGRV 

OXFHVGHHPHUJHQFLDOXFHVDSDಢ $MXVWHVGHODSDQWDOODGH +RUD\IHFKD


JDGDV LQIRUPDFLäQ 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
FRQILUPDFLäQOXPLQRVD\DFëVWLFD 1DYL IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
GHOGHVEORTXHRDGLVWDQFLD6HOHFಢ FLäQ
3XOVHHOERWäQ&RQILJSDQWDOODGHOD
FLRQHVäOROXFHVOXFHV\ERFLQD SÒJLQDGHLQLFLRRHOERWäQ&21),*
VäORERFLQDGHVDFWLYDGR $MXVWHVGHODUDGLR
GHODSODFDIURQWDOSDUDHQWUDUHQHO 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
GHVEORTXHRGHSXHUWDVDGLVWDQFLD PHQë&RQILJXUDFLäQ IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
6HOHFFLRQHWRGDVODVSXHUWDV 3XOVHODEDUUDGHGHVSOD]DPLHQWR FLäQ
SXHUWDGHOFRQGXFWRU KDVWDTXHVHPXHVWUHODRSFLäQGHಢ
UHFRUGDWRULRGHPDQGRDGLVWDQFLD VHDGD6HOHFFLRQHODFRQILJXUDFLäQ $MXVWHVGHOWHOÚIRQR
HQYHKÞFXOR6HOHFFLRQHDFWLYDFLäQ TXHGHVHDFDPELDU 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
RGHVDFWLYDFLäQ ࿢ ,GLRPDV IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
࿢ RSFLäQGHFÒPDUDWUDVHUD(VWH FLäQ
࿢ +RUD\IHFKD
PHQëVäORDSDUHFHVLKD\XQDFÒಢ
࿢ $MXVWHVGHODUDGLR $MXVWHVGHQDYHJDFLäQ
PDUDUHWURYLVRUD 59& LQVWDODGD
HQVXYHKÞFXOR ࿢ $MXVWHVGHOWHOÚIRQR 9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUPDಢ
VÞPERORV6HOHFFLRQHDFWLYDFLäQR ࿢ $MXVWHVGHQDYHJDFLäQ FLäQ
GHVDFWLYDFLäQ ࿢ $MXVWHVGHOYHKÞFXOR
JXÞDV6HOHFFLRQHDFWLYDFLäQRGHಢ $MXVWHVGHOYHKÞFXOR
࿢ $MXVWHVGHSDQWDOOD
VDFWLYDFLäQ ࿢ &OLPD\FDOLGDGGHODLUH
/RVVLJXLHQWHVDMXVWHVSXHGHQFDPಢ
࿢ DMXVWHVGHIÒEULFDGHOYHKÞFXOR 9HORFLGDGDXWRPÒWLFDGHO
ELDUVHHQORVVXEPHQëVFRUUHVSRQಢ
5HVWDEOHFHGHQXHYRORVYDORUHVGH YHQWLODGRU0RGLILFDODYHORFLGDGGHO
GLHQWHV
ORVDMXVWHVGHIÒEULFD YHQWLODGRUDOWDPHGLDEDMD
,GLRPDV /DQJXDJHV 6HQVRUGHFDOLGDGGHODLUH0RGLILFD
LGLRPD 6HOHFFLäQGHOLGLRPDGHVHDGR ODVHQVLELOLGDGGHOVHQVRUGHFDOLಢ
6HOHFFLäQGHOLGLRPDGHVHDGR GDGGHODLUH $46 EDMDDOWD
 ,QVWUXPHQWRV\PDQGRV

0RGRGHODLUHDFRQGLFLRQDGRGHVಢ ࿢ ,OXPLQDFLäQ &RQILUPDFLäQGHOEORTXHRD


DFWLYDGRDFWLYDGRëOWLPRDMXVWH /XFHVGHORFDOL]DFLäQGHOYHKÞFXOR GLVWDQFLD$FWLYDRGHVDFWLYDODFRQಢ
'HVHPSDâDGRDXWRPÒWLFRDFWLಢ $FWLYDRGHVDFWLYDODLOXPLQDFLäQGH ILUPDFLäQGHODVOXFHVGHHPHUJHQಢ
YDGRGHVDFWLYDGR DFWLYDRGHVDFಢ HQWUDGD FLDDODFFLRQDUHOEORTXHR
WLYDHOGHVHPSDâDGRDXWRPÒWLFR ,OXPLQDFLäQGHVDOLGD$FWLYDRGHVಢ &RQILUPDFLäQGHOGHVEORTXHRD
'HVHPSDâDGRWUDVHURDXWRPÒWLFR DFWLYD\FDPELDODGXUDFLäQGHOD GLVWDQFLD$FWLYDRGHVDFWLYDODFRQಢ
DFWLYDGRGHVDFWLYDGR DFWLYDR LOXPLQDFLäQDOVDOLU ILUPDFLäQGHODVOXFHVGHHPHUJHQಢ
GHVDFWLYDHOGHVHPSDâDGRWUDVHUR FLDDOGHVEORTXHDU
࿢ %ORTXHRGHSXHUWDVHOÚFWULFR
DXWRPÒWLFR 'HVEORTXHRGHSXHUWDVD
%ORTXHRGHSXHUWDVDXWRPÒWLFR GLVWDQFLD&DPELDODFRQILJXUDFLäQ
࿢ &RQIRUW\FRPRGLGDG $FWLYDRGHVDFWLYDODIXQFLäQGHEORಢ SDUDGHVEORTXHDUVäORODSXHUWDGHO
9ROXPHQGHORVDYLVRVDFëVWLFRV TXHRDXWRPÒWLFRGHSXHUWDV FRQGXFWRURWRGRHOYHKÞFXORDOGHVಢ
&DPELDHOYROXPHQGHORVDYLVRV 'HVEORTXHRGHSXHUWDV EORTXHDU
DFëVWLFRV DXWRPÒWLFR$FWLYDRGHVDFWLYDOD 5HFRUGDWRULRGHPDQGRDGLVWDQFLD
/LPSLDOXQHWDGHPDUFKDDWUÒV IXQFLäQGHEORTXHRDXWRPÒWLFRGH HQYHKÞFXOR$FWLYDRGHVDFWLYDXQ
DXWRPÒWLFR SXHUWDVGHVSXÚVGHGHVFRQHFWDUHO UHFRUGDWRULRVLVHGHMDODOODYHHOHFಢ
$FWLYDRGHVDFWLYDODFRQH[LäQDXಢ HQFHQGLGR WUäQLFDHQHOYHKÞFXOR
WRPÒWLFDGHOOLPSLDOXQHWDFXDQGR %ORTXHRGHSXHUWDVUHWDUGDGR$Fಢ ࿢ °5HVWDEOHFHUDMXVWHVGHIÒEULFD"
VHHQJUDQDODPDUFKDDWUÒV WLYDRGHVDFWLYDODIXQFLäQGHEORಢ 5HVWDEOHFHWRGRVORVDMXVWHVSUHಢ
࿢ 6LVWHPDVGHGHWHFFLäQGH TXHRDXWRPÒWLFRGHSXHUWDVFRQUHಢ GHWHUPLQDGRVGHIÒEULFD
FROLVLRQHV WDUGR
$VLVWHQWHGHDSDUFDPLHQWR$FWLYD 3UHYHQLUEORTXHRFRQODSXHUWD $MXVWHVGHSDQWDOOD
RGHVDFWLYDORVVHQVRUHVGHXOWUDಢ DELHUWD$FWLYDRGHVDFWLYDODIXQಢ 3XOVHHOERWäQ&RQILJSDQWDOODGHOD
VRQLGRV FLäQGHEORTXHRDXWRPÒWLFRGH SÒJLQDGHLQLFLRRHOERWäQ&21),*
SXHUWDVPLHQWUDVKD\XQDSXHUWD GHODSODFDIURQWDOSDUDHQWUDUHQHO
$OHUWDGH]RQDFLHJDODWHUDO$FWLYD DELHUWD PHQë$MXVWHVGHSDQWDOOD
RGHVDFWLYDHOVLVWHPDGHDOHUWDGH
SXQWRFLHJRODWHUDO ࿢ %ORTXHRGHVEORTXHRDUUDQTXHD
GLVWDQFLD
,QVWUXPHQWRV\PDQGRV 

࿢ 0HQëGHODSÒJLQDGHLQLFLR
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUಢ
PDFLäQ
࿢ 2SFLRQHVGHFÒPDUDWUDVHUD
3XOVHSDUDDMXVWDUODVRSFLRQHVGH
ODFÒPDUDWUDVHUD 
࿢ $SDJDUSDQWDOOD
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUಢ
PDFLäQ
࿢ &RQILJXUDFLäQGHPDSD
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUಢ
PDFLäQ
࿢ 3DQWDOODGHPDSD
9ÚDVHHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSDUDPÒVLQIRUಢ
PDFLäQ
 ,OXPLQDFLäQ

,OXPLQDFLäQ ,OXPLQDFLäQH[WHULRU &RQPXWDGRUGHODVOXFHVFRQ


FRQWURODXWRPÒWLFRGHODVOXFHV
&RQPXWDGRUGHODVOXFHV
,OXPLQDFLäQH[WHULRU  
,OXPLQDFLäQLQWHULRU  
&DUDFWHUÞVWLFDVGHODLOXPLQDಢ
FLäQ  

*LUHHOFRQPXWDGRUGHODVOXFHV
*LUHHOFRQPXWDGRUGHODVOXFHV $872 &RQWURODXWRPÒWLFRGHODV
 /XFHVDSDJDGDV OXFHVGHSHQGLHQGRGHODV
 /XFHVGHSRVLFLäQ FRQGLFLRQHVGHOX]H[WHಢ
 )DURV ULRU
P $FWLYDFLäQRGHVDFWLYDFLäQ
7HVWLJRGHFRQWURO  GHOFRQWURODXWRPÒWLFRGH
OXFHV(OFRQPXWDGRU
YXHOYHD$872
 /XFHVGHSRVLFLäQ
 )DURV
,OXPLQDFLäQ 

$OFRQHFWDUHOHQFHQGLGRVLHPSUHVH UDVDXWRPÒWLFDPHQWH(VWDIXQFLäQ
DFWLYDHOFRQWURODXWRPÒWLFRGHODVOXಢ FRQOOHYDXQEUHYHUHWDUGRGHSHQಢ  $GYHUWHQFLD
FHV GLHQGRGHODVFRQGLFLRQHVOXPLQRVDV
&DPELHVLHPSUHODOX]GHFDUUHಢ
&XDQGRODVOXFHVHVWÒQHQFHQGLGDV 6LORVOLPSLDSDUDEULVDVIXQFLRQDQ WHUDDODOX]GHFUXFHFXDQGRVH
VHLOXPLQD,QGLFDGRUGHFRQWURO FRQWLQXDPHQWHGXUDQWHFLFORV\HO DSUR[LPHQYHKÞFXORVGHIUHQWHR
 H[WHULRUHVWÒRVFXURODVOXFHVH[WHಢ FXDQGRWHQJDYHKÞFXORVGHODQWH
ULRUHVVHHQFHQGHUÒQDXWRPÒWLFDಢ /DOX]GHFDUUHWHUDSXHGHFHJDU
PHQWH
&RQWURODXWRPÒWLFRGHODV WHPSRUDOPHQWHDRWURVFRQGXFWRಢ
UHVORTXHSRGUÞDSURYRFDUXQD
OXFHV /X]GHFDUUHWHUD FROLVLäQ

5ÒIDJDV
3DUDDFFLRQDUODVUÒIDJDVWLUHGHOD
SDODQFD

)DURVHQYLDMHVDO
H[WUDQMHUR
/DOX]GHFUXFHDVLPÚWULFDDXPHQWDHO
FDPSRGHYLVLäQGHODFDUUHWHUDHQHO
ODGRGHODFRPSDâDQWH
6LQHPEDUJRDOFLUFXODUHQSDÞVHV
)XQFLäQDXWRPÒWLFDGHODVOXFHV 3DUDFDPELDUGHOX]GHFUXFHDOX]GH GRQGHVHFRQGXFHSRUHOODGR
&XDQGRVHDFWLYDODIXQFLäQDXWRPÒಢ FDUUHWHUDSXOVHODSDODQFD RSXHVWRGHODFDUUHWHUDGHEHDMXVWDU
WLFDGHODVOXFHV$872HOVLVWHPD ORVIDURVSDUDHYLWDUHOGHVOXPEUDಢ
HQFLHQGHORVIDURV\ODVOXFHVWUDVHಢ 3DUDFDPELDUDOX]GHFUXFHYXHOYDD PLHQWRGHORVYHKÞFXORVTXHYLHQHQ
SXOVDURWLUDUGHODSDODQFD GHIUHQWH
 ,OXPLQDFLäQ

+DJDUHJXODUORVIDURVHQXQWDOOHU 6HâDOL]DFLäQGHJLURV\ 3DUDHPLWLUWUHVLQWHUPLWHQFLDVSHM


SDUDXQFDPELRGHFDUULOSXOVHODSDಢ
FDPELRVGHFDUULO ODQFDKDVWDSHUFLELUFLHUWDUHVLVWHQFLD
/XFHVGHHPHUJHQFLD \VXÚOWHOD
3DUDXQDLQGLFDFLäQPÒVSURORQJDGD
PDQWHQJDODSDODQFDSXOVDGD
'HVFRQHFWHORVLQWHUPLWHQWHVPDಢ
QXDOPHQWHPRYLHQGRODSDODQFD
KDVWDVXSRVLFLäQRULJLQDO

)DURVDQWLQLHEOD

3DODQFD ,QWHUPLWHQWHGHUHFKR
6HDFFLRQDQFRQHOERWäQe KDFLD
&XDQGRVHDFWLYDQODVOXFHVGHHPHUಢ DUULED
JHQFLDWDPELÚQSDUSDGHDODVXSHUILಢ 3DODQFD ,QWHUPLWHQWHL]TXLHUGR
FLHURMDGHOERWäQ KDFLD
/DVOXFHVGHHPHUJHQFLDVHFRQHFWDQ DEDMR
DXWRPÒWLFDPHQWHVLVHDFWLYDQORVDLUಢ 6LODSDODQFDVHPXHYHPÒVDOOÒGHO
EDJV SXQWRGHUHVLVWHQFLDHOLQWHUPLWHQWH
VHFRQHFWDSHUPDQHQWHPHQWH
&XDQGRHOYRODQWHYXHOYHDJLUDUVH 6HDFFLRQDQFRQHOERWäQ
GHVDFWLYDHOLQWHUPLWHQWHDXWRPÒWLFDಢ
PHQWH
,OXPLQDFLäQ 

3LORWRDQWLQLHEOD /XFHVGHPDUFKDDWUÒV ,OXPLQDFLäQLQWHULRU


/DOX]GHPDUFKDDWUÒVVHHQFLHQGH
DXWRPÒWLFDPHQWHFXDQGRHVWÒFRಢ &RQWUROGHODLOXPLQDFLäQ
QHFWDGRHOHQFHQGLGR\VHHQJUDQDOD GHOWDEOHURGHLQVWUXPHQWRV
PDUFKDDWUÒV

)DURVHPSDâDGRV
(OLQWHULRUGHODVOXFHVSXHGHHPSDಢ
âDUVHFRQWLHPSRIUÞR\KëPHGROOXYLD
LQWHQVDRGHVSXÚVGHODYDUHOYHಢ
KÞFXOR(OHPSDâDPLHQWRGHVDSDUHFH
UÒSLGDPHQWHSDUDIDFLOLWDUHOSURFHVR
HQFLHQGDORVIDURV
6HDFFLRQDQFRQHOERWäQP
&RQPXWDGRUGHODVOXFHVHQSRVLFLäQ
$XWRDOFRQHFWDUHOSLORWRDQWLQLHEOD
VHHQFHQGHUÒQDXWRPÒWLFDPHQWHORV 6HSXHGHDMXVWDUHOEULOORGHODVVLಢ
IDURV JXLHQWHVOXFHVFXDQGRODVOXFHVH[ಢ
&RQPXWDGRUGHODVOXFHVHQ WHULRUHVHVWÒQHQFHQGLGDV
SRVLFLäQHOSLORWRDQWLQLHEODVäOR ࿢ ,OXPLQDFLäQGHOWDEOHURGHLQVWUXಢ
VHSXHGHFRQHFWDUMXQWRFRQORVIDURV PHQWRV
DQWLQLHEOD
࿢ 0DQGRVHQHOYRODQWH
࿢ 3DQWDOODGHLQIRUPDFLäQ
࿢ (OHPHQWRVGHPDQGRGHOFOLPDWL]Dಢ
GRU
࿢ ,QWHUUXSWRUHVLOXPLQDGRV
 ,OXPLQDFLäQ

*LUHHOPDQGRI\PDQWÚQJDORKDVWD $FFLRQHHOLQWHUUXSWRUEDVFXODQWH
REWHQHUHOEULOORGHVHDGR  $GYHUWHQFLD
Z FRQH[LäQ\GHVFRQH[LäQ
DXWRPÒWLFD (YLWHXVDUODVOXFHVLQWHULRUHV
/XFHVLQWHULRUHV SXOVHX VLHPSUHHQFHQGLGDV PLHQWUDVFRQGXFHHQODRVFXULGDG
SXOVHY VLHPSUHDSDJDGDV 8QKDELWÒFXORLOXPLQDGRUHGXFHOD
/X]GHFRUWHVÞD YLVLELOLGDGHQODRVFXULGDG\SRGUÞD
/XFHVGHOHFWXUD GDUOXJDUDXQDFROLVLäQ

/XFHVHQORVSDUDVROHV
6HHQFLHQGHQDODEULUODWDSD

$OHQWUDU\VDOLUGHOYHKÞFXORVHHQಢ
FLHQGHQDXWRPÒWLFDPHQWHODVOXFHV 6HDFFLRQDFRQORVERWRQHVV\W
GHFRUWHVÞDOXHJRVHDSDJDQFRQXQ
OHYHUHWDUGR6HHQFLHQGHEUHYHಢ
PHQWHDXQTXHODOODYHVHVDTXHGHOD
FHUUDGXUDGHOHQFHQGLGR
,OXPLQDFLäQ 

&DUDFWHUÞVWLFDVGHOD ,OXPLQDFLäQGHHQWUDGD
6HFRQHFWDUÒQDGLFLRQDOPHQWHODVVLಢ
LOXPLQDFLäQ JXLHQWHVOXFHVDODEULUODSXHUWDGHO
FRQGXFWRU
,OXPLQDFLäQGHHQWUDGD
࿢ 6HLOXPLQDQDOJXQRVLQWHUUXSWRUHV
,OXPLQDFLäQGHELHQYHQLGD ࿢ $OJXQDVOXFHVLQWHULRUHV
/RVIDURVODVOXFHVODWHUDOHVODVOXಢ
FHVWUDVHUDV\ODLOXPLQDFLäQLQWHULRU ,OXPLQDFLäQGHVDOLGD
VHHQFLHQGHQEUHYHPHQWHDOGHVEORಢ
TXHDUHOYHKÞFXORFRQHOPDQGRDGLVಢ /RVIDURVODVOXFHVODWHUDOHV\ODVOXಢ
WDQFLD(VWDIXQFLäQIDFLOLWDODORFDOLಢ FHVWUDVHUDVLOXPLQDQHOFDPLQRGXಢ
]DFLäQGHOYHKÞFXORHQOXJDUHVRVFXಢ UDQWHXQSHULRGRGHWLHPSRDMXVWDEOH
URV GHVSXÚVGHVDOLUGHOYHKÞFXOR &RQH[LäQ
/DVOXFHVVHDSDJDQLQPHGLDWDPHQWH 1RWD (OSURFHVRVLJXLHQWHVäORHVDSOLFDEOH
FXDQGRODOODYHGHOHQFHQGLGRVHJLUD /DLOXPLQDFLäQGHHQWUDGD\ODLOXPLಢ DORVYHKÞFXORVVLQIXQFLäQDXWRPÒಢ
DODSRVLFLäQGHDFFHVRULRV QDFLäQGHVDOLGDVHSXHGHQHQFHQಢ WLFDGHODVOXFHV(OFRQPXWDGRUGH
/DDFWLYDFLäQRGHVDFWLYDFLäQGHHVWD GHURDSDJDUDXWRPÒWLFDPHQWHGHಢ ODVOXFHVGHEHHVWDUHQODSRVLFLäQ
IXQFLäQVHSXHGHFDPELDUHQHOPHQë SHQGLHQGRGHODVFRQGLFLRQHVGHRVಢ 2)) GHVDFWLYDGR 6LVHFLHUUDOD
$MXVWHVGHODSDQWDOODGHLQIRUPDFLäQ FXULGDGHQHOH[WHULRU SXHUWDGHOFRQGXFWRUODVOXFHVVH
3HUVRQDOL]DFLäQGHOYHKÞFXOR  DSDJDUÒQDXWRPÒWLFDPHQWHGHVSXÚV
GHOWLHPSRHVWDEOHFLGR
/RVDMXVWHVVHSXHGHQPHPRUL]DU
PHGLDQWHODOODYHXWLOL]DGD   'HVFRQHFWHHOHQFHQGLGR
 6DTXHODOODYHGHOHQFHQGLGR
 $EUDODSXHUWDGHOFRQGXFWRU
 ,OXPLQDFLäQ

 7LUHGHODSDODQFDGHORVLQWHUPLಢ 3URWHFFLäQFRQWUD
WHQWHV
 &LHUUHODSXHUWDGHOFRQGXFWRU
GHVFDUJDGHODEDWHUÞD
3DUDHYLWDUODGHVFDUJDGHODEDWHUÞD
6LQRVHFLHUUDODSXHUWDGHOFRQGXFಢ
FRQHOHQFHQGLGRGHVFRQHFWDGRDOಢ
WRUODVOXFHVVHDSDJDUÒQGHVSXÚVGH
JXQDVOXFHVLQWHULRUHVVHDSDJDQDXಢ
GRVPLQXWRV
WRPÒWLFDPHQWHGHVSXÚVGHXQFLHUWR
/DVOXFHVVHDSDJDQLQPHGLDWDPHQWH WLHPSR
VLWLUDGHODSDODQFDGHORVLQWHUPLWHQಢ
6LGHVFRQHFWDHOHQFHQGLGRFRQODV
WHVFRQODSXHUWDGHOFRQGXFWRU
OXFHVH[WHULRUHVHQFHQGLGDVVHDSDಢ
DELHUWD
JDUÒQDXWRPÒWLFDPHQWHGHIRUPDLQಢ
6LHOFRQPXWDGRUGHODVOXFHVHVWÒHQ PHGLDWDRXQRVSRFRVPLQXWRVGHVಢ
ODSRVLFLäQ$872\VHVDFDODOODYH SXÚVGHSHQGLHQGRGHODRVFXULGDG
GHVSXÚVGHGHVFRQHFWDUHOHQFHQಢ H[WHULRURGHODVFRQGLFLRQHVGH
GLGRODVOXFHVH[WHULRUHVGHOYHKÞFXOR DMXVWH
FRQIXQFLäQDXWRPÒWLFDGHODVOXFHV
/DVOXFHVH[WHULRUHVVHDSDJDUÒQ
VHHQFHQGHUÒQDXWRPÒWLFDPHQWHGHಢ
GHVSXÚVGHPLQXWRVVLODVDFWLYD
SHQGLHQGRGHOQLYHOGHRVFXULGDG
PDQXDOPHQWHFRQHOHQFHQGLGRGHVಢ
/DDFWLYDFLäQGHVDFWLYDFLäQ\GXUDಢ FRQHFWDGR
FLäQGHHVWDIXQFLäQGHLOXPLQDFLäQVH
SXHGHFDPELDUHQHOPHQë$MXVWHVGH
ODSDQWDOODGHLQIRUPDFLäQ3HUVRQDOLಢ
]DFLäQGHOYHKÞFXOR 
/RVDMXVWHVVHSXHGHQPHPRUL]DU
PHGLDQWHODOODYHXWLOL]DGD 
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

,QWURGXFFLäQ (OSURFHVDGRUGHVRQLGRGLJLWDOOH
6LVWHPDGH RIUHFHYDULRVPRGRVGHHFXDOL]DFLäQ
LQIRHQWUHWHQLPLHQWR ,QIRUPDFLäQJHQHUDO SUHGHILQLGRVSDUDPHMRUDUHOVRQLGR
'HIRUPDRSFLRQDOHOVLVWHPDGHLQಢ
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWROH IRHQWUHWHQLPLHQWRVHSXHGHPDQHMDU
RIUHFHORëOWLPRHQVLVWHPDVGHRFLRH FRQORVPDQGRVHQHOYRODQWH
,QWURGXFFLäQ   LQIRUPDFLäQ
5DGLR   $GHPÒVHOVLVWHPDGHLQIRHQWUHWHQLಢ
(QODVEDQGDVGHIUHFXHQFLD$0\ PLHQWRSXHGHHTXLSDUVHFRQXQVLVಢ
5HSURGXFWRUGH&'   )0ODUDGLRGLVSRQHGHGRFHSUHVLQಢ WHPDGHOWHOÚIRQR
(QWUDGD$8;   WRQÞDVGHHPLVRUDVTXHVHSXHGHQ
FRQILJXUDUDXWRPÒWLFDPHQWH$GHಢ (OGLVHâRLQWHOLJHQWHGHORVHOHPHQWRV
3XHUWR86%   PÒVVHSXHGHQDVLJQDUHPLVRUDV GHPDQGRODFODULGDGGHODVSDQWDOODV
0ëVLFD%OXHWRRWK   GHIRUPDPDQXDO LQGHSHQGLHQWHVGH \HOPDQGRPXOWLIXQFLäQ0(18OHSHUಢ
ODEDQGDGHIUHFXHQFLDV  PLWHQFRQWURODUHOVLVWHPDGHIRUPD
5HFRQRFLPLHQWRGHYR]  
IÒFLOHLQWXLWLYD
7HOÚIRQR   &RQHOUHSURGXFWRUGHUDGLRLQWHJUDGR
SRGUÒUHSURGXFLU&'GHDXGLR\GH 1RWD
03:0$ (VWHPDQXDOGHVFULEHWRGDVODVRSಢ
$GHPÒVSXHGHFRQHFWDUGLVSRVLWLYRV FLRQHV\FDUDFWHUÞVWLFDVGLVSRQLEOHV
H[WHUQRVGHDOPDFHQDPLHQWRGHGDಢ SDUDORVGLYHUVRVVLVWHPDVGHLQಢ
WRVSRUHMHPSORXQL3RGXQUHSURಢ IRHQWUHWHQLPLHQWR'HWHUPLQDGDV
GXFWRU03XQOÒSL]86% VDOYR GHVFULSFLRQHVLQFOXLGDVODVGHIXQಢ
&' RXQUHSURGXFWRUSRUWÒWLOGH FLRQHVGHODSDQWDOOD\ORVPHQëV
&'DOVLVWHPDGHLQIRHQWUHWHQLPLHQWR SXHGHQQRVHUDSOLFDEOHVDVXYHಢ
FRPRIXHQWHDGLFLRQDOGHDXGLR\D KÞFXORSRUODYDULDQWHGHPRGHORODV
VHDSRUFDEOHRSRU%OXHWRRWK VDOYR HVSHFLILFDFLRQHVGHOSDÞVHOHTXLSDಢ
&'  PLHQWRHVSHFLDORORVDFFHVRULRV
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

,QIRUPDFLäQLPSRUWDQWHVREUH 'LVSRVLWLYRDQWLUURER
IXQFLRQDPLHQWR\VHJXULGDGGH (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
WUÒILFR HVWÒHTXLSDGRFRQXQVLVWHPDGHVHಢ
JXULGDGHOHFWUäQLFDSDUDHYLWDUURERV
 $GYHUWHQFLD &RPRFRQVHFXHQFLDHOVLVWHPDGH
LQIRHQWUHWHQLPLHQWRVäORIXQFLRQDHQ
(OXVRGHOVLVWHPDGHDXGLRQR VXYHKÞFXOR\FDUHFHGHYDORUSDUDXQ
GHEHLQWHUIHULUQXQFDFRQODFRQಢ ODGUäQ
GXFFLäQVHJXUDGHOYHKÞFXOR(Q
FDVRGHGXGDGHWHQJDHOYHKÞFXOR
\DFFLRQHHOVLVWHPDGHDXGLR
PLHQWUDVHOYHKÞFXORHVWÒGHWHಢ
QLGR

5HFHSFLäQGHHPLVRUDVGHUDGLR
(QODUHFHSFLäQGHUDGLRVHSXHGHQ
SURGXFLUVLOELGRVUXLGRVGLVWRUVLRQHV
RIDOORVGHUHFHSFLäQSRU
࿢ ODVYDULDFLRQHVGHODGLVWDQFLD
GHVGHODHPLVRUD
࿢ ODUHFHSFLäQPëOWLSOHGHELGDDUHಢ
IOH[LRQHV
࿢ \ODVLQWHUIHUHQFLDV
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

5HVXPHQGHORVHOHPHQWRVGHFRQWURO
&'
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

 %RWäQP    &/2&.    %$&.  


3XOVDFLäQVHFRQHFWD 6LHOVLVWHPDLQIRWDLQPHQW 0HQëUHWURFHGHXQQLYHO  
GHVFRQHFWDHOVLVWHPD HVWÒGHVFRQHFWDGR
LQIRWDLQPHQW   PXHVWUDODKRUD\ODIHFKD   ,QWURGXFFLäQGHGDWRV
HOLPLQDHOëOWLPRFDUÒFWHUR
*LURDMXVWDHOYROXPHQ   6LHOVLVWHPDGHLQIRHQWUHಢ WRGDODHQWUDGD  
 %RWRQHVGHHPLVRUD   WHQLPLHQWRHVWÒDFWLYDGR  ([SXOVLäQGH&'  
FDPELHHODMXVWHGHKRUD\
3XOVDFLäQSURORQJDGD IHFKD    0(18  
PHPRUL]DODHPLVRUD    ,1)2   &RQWUROFHQWUDOGH
3XOVDFLäQEUHYH VHOHFFLäQ\H[SORUDFLäQGH
,QIRUPDFLäQDGLFLRQDOTXH PHQëV  
VHOHFFLRQDODHPLVRUD   GHSHQGHGHOFRQWH[WR  
 %ëVTXHGDKDFLDDWUÒV    )$9  
 721(  
5DGLREXVFDKDFLDDWUÒV   /LVWDVGHIDYRULWRV  
$MXVWHVGHWRQRV  
 7HOÚIRQR6LOHQFLR  
&'03:0$VHVDOWD  $6  
XQDSLVWDKDFLDDWUÒV   $EUHHOPHQëSULQFLSDOGHO
1LYHOHVGHPHPRULD WHOÚIRQR  
 &'03:0$LQLFLR DXWRPÒWLFRV  
SDXVDGHUHSURGXFFLäQ   $FWLYDGHVDFWLYDHOPRGR
 %ëVTXHGDKDFLDGHODQWH   3XOVDFLäQEUHYH GHVLOHQFLR  
VHOHFFLRQDODOLVWDGH
5DGLREXVFDKDFLDGHODQWH  YDORUHVJXDUGDGRV  &21),*  
DXWRPÒWLFDPHQWH   $MXVWHVGHOVLVWHPD  
&'03:0$VHVDOWD
XQDSLVWDKDFLDGHODQWH   3XOVDFLäQSURORQJDGD  5DQXUDGH&'  
PHPRUL]DODHPLVRUD
DXWRPÒWLFDPHQWH  
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

 &'$8;  


,QLFLDODUHSURGXFFLäQGH
XQ&'03:0$R
FDPELDODIXHQWHGHDXGLR  
 %$1'  
$FWLYDODUDGLRRFDPELDOD
EDQGDGHIUHFXHQFLDV  
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

&'
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

 %RWäQP    &/2&.    %$&.  


3XOVDFLäQVHFRQHFWD 6LHOVLVWHPDLQIRWDLQPHQW 0HQëUHWURFHGHXQQLYHO  
GHVFRQHFWDHOVLVWHPD HVWÒGHVFRQHFWDGR
LQIRWDLQPHQW   PXHVWUDODKRUD\ODIHFKD   ,QWURGXFFLäQGHGDWRV
HOLPLQDHOëOWLPRFDUÒFWHUR
*LURDMXVWDHOYROXPHQ   6LHOVLVWHPDGHLQIRHQWUHಢ WRGDODHQWUDGD  
 %RWRQHVGHHPLVRUD   WHQLPLHQWRHVWÒDFWLYDGR  ([SXOVLäQGH&'  
FDPELHHODMXVWHGHKRUD\
3XOVDFLäQSURORQJDGD IHFKD    0(18  
PHPRUL]DODHPLVRUD    ,1)2   &RQWUROFHQWUDOGH
3XOVDFLäQEUHYH VHOHFFLäQ\H[SORUDFLäQGH
,QIRUPDFLäQDGLFLRQDOTXH PHQëV  
VHOHFFLRQDODHPLVRUD   GHSHQGHGHOFRQWH[WR  
 %ëVTXHGDKDFLDDWUÒV    )$9  
 721(  
5DGLREXVFDKDFLDDWUÒV   /LVWDVGHIDYRULWRV  
$MXVWHVGHWRQRV  
 7HOÚIRQR6LOHQFLR  
&'03:0$VHVDOWD  $6  
XQDSLVWDKDFLDDWUÒV   $EUHHOPHQëSULQFLSDOGHO
1LYHOHVGHPHPRULD WHOÚIRQR  
 03FDUSHWDVXSHULRU   DXWRPÒWLFRV  
 &'03:0$LQLFLR $FWLYDGHVDFWLYDHOPRGR
SDXVDGHUHSURGXFFLäQ   3XOVDFLäQEUHYH GHVLOHQFLR  
VHOHFFLRQDODOLVWDGH
 03FDUSHWDLQIHULRU   YDORUHVJXDUGDGRV  &21),*  
 %ëVTXHGDKDFLDGHODQWH   DXWRPÒWLFDPHQWH   $MXVWHVGHOVLVWHPD  
5DGLREXVFDKDFLDGHODQWH  3XOVDFLäQSURORQJDGD  5DQXUDGH&'  
PHPRUL]DODHPLVRUD
&'03:0$VHVDOWD
DXWRPÒWLFDPHQWH  
XQDSLVWDKDFLDGHODQWH  
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

 &'$8;   0DQGRVGHVRQLGRGHOYRODQWH  65& )XHQWH  


,QLFLDODUHSURGXFFLäQGH 3XOVDFLäQVHOHFFLRQDOD
XQ&'03:0$R IXHQWHGHVRQLGR  
FDPELDODIXHQWHGHDXGLR  
6LODUDGLRHVWÒDFWLYDJLUH
 %$1'   KDFLDDUULEDKDFLDDEDMR
$FWLYDODUDGLRRFDPELDOD SDUDVHOHFFLRQDUOD
EDQGDGHIUHFXHQFLDV   HPLVRUDSUHVLQWRQL]DGD
VLJXLHQWHDQWHULRU  
6LKD\XQUHSURGXFWRUGH
&'DFWLYRJLUHKDFLD
DUULEDKDFLDDEDMRSDUD
VHOHFFLRQDUODSLVWDGH&'
 3XOVDFLäQEUHYHDFHSWD 03:0$VLJXLHQWH
XQDOODPDGDWHOHIäQLFD   DQWHULRU  

RPDUFDHOQëPHURGHOD 6LHVWÒDFWLYRHOVLVWHPD
OLVWDGHOODPDGDV   GHOWHOÚIRQRJLUHKDFLD
DUULEDKDFLDDEDMRSDUD
RDFWLYDUHOUHFRQRFLPLHQWR VHOHFFLRQDUODHQWUDGD
GHYR] VLHVWÒGLVSRQLEOH    VLJXLHQWHDQWHULRUGHOD
OLVWDGHOODPDGDV  
3XOVDFLäQSURORQJDGD
PXHVWUDODOLVWDGHOODPDGDV  6LHOVLVWHPDGHOWHOÚIRQR
HVWÒDFWLYDGR\KD\
RGHVDFWLYDUHO OODPDGDVHQHVSHUDJLUH
UHFRQRFLPLHQWRGHYR] VL KDFLDDUULEDKDFLDDEDMR
HVWÒGLVSRQLEOH   SDUDFDPELDUHQWUH
OODPDGDV  
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

 $XPHQWDHOYROXPHQ   0DQHMR DDSDJDUDXWRPÒWLFDPHQWHDOFDERGH


 5HGXFHHOYROXPHQ   PLQXWHVGHVGHODëOWLPDLQVWUXFಢ
(OHPHQWRVGHFRQWURO FLäQGHOXVXDULR
 3XOVDFLäQEUHYHILQDOL]D
UHFKD]DODOODPDGD   (OVLVWHPDGHLQIRHQWUHWHQLPLHQWRVH
FRQWURODFRQORVERWRQHVGHIXQFLäQ
$MXVWHGHOYROXPHQ
RFLHUUDODOLVWDGHOODPDGDV  ORVPDQGRVPXOWLIXQFLäQ\ORVPHQëV *LUHHOERWäQ;$SDUHFHODVLJXLHQWH
TXHDSDUHFHQHQODSDQWDOOD FRQILJXUDFLäQHQODSDQWDOOD
RDFWLYDGHVDFWLYDHOPRGR
GHVLOHQFLR   /DVLQVWUXFFLRQHVVHSXHGHQLQWURGXಢ &XDQGRVHHQFLHQGHHOVLVWHPDGHLQಢ
FLURSFLRQDOPHQWHDWUDYÚVGH IRHQWUHWHQLPLHQWRVHDMXVWDHOëOWLPR
RGHVDFWLYDUHO YROXPHQVHOHFFLRQDGRVLHPSUHTXH
UHFRQRFLPLHQWRGHYR] VL ࿢ ODXQLGDGGHFRQWUROFHQWUDOGHOSDಢ HOYROXPHQVHDLQIHULRUDOYROXPHQ
HVWÒGLVSRQLEOH   QHOGHLQVWUXPHQWRV  PÒ[LPRGHLQLFLR
࿢ ORVPDQGRVGHOYRODQWH  (OYROXPHQPÒ[LPRGHLQLFLR 
࿢ HOVLVWHPDGHUHFRQRFLPLHQWRGH SXHGHDMXVWDUDSDUWH
YR] VLHVWÒGLVSRQLEOH  
9ROXPHQFRPSHQVDGRGHYHORFLGDG
(QFHQGLGR\DSDJDGRGHO &XDQGRVHDFWLYDHOYROXPHQFRPಢ
VLVWHPDGHLQIRHQWUHWHQLPLHQWR SHQVDGRGHYHORFLGDG HOYROXಢ
3XOVHHOPDQGR;GHIRUPDEUHYH PHQVHDGDSWDDXWRPÒWLFDPHQWHDOD
&XDQGRVHHQFLHQGHVHDFWLYDODëOಢ FDUUHWHUD\HOUXLGRGHOYLHQWRTXHKD\
WLPDIXHQWHGHLQIRHQWUHWHQLPLHQWR DOFRQGXFLU
VHOHFFLRQDGD
6LOHQFLR
'HVFRQH[LäQDXWRPÒWLFD 3XOVHHOERWäQ\# VLKD\GLVSRQLEOH
6LVHHQFLHQGHHOVLVWHPDGHLQIRHQಢ XQVLVWHPDGHOWHOÚIRQRSXOVHGXಢ
WUHWHQLPLHQWRFRQHOPDQGR;FRQHO UDQWHXQRVVHJXQGRV SDUDVXSULPLU
HQFHQGLGRGHVFRQHFWDGRVHYROYHUÒ HOVRQLGRGHODVIXHQWHVGHDXGLR
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

3DUDFDQFHODUODVXSUHVLäQGHOVRಢ 5HSURGXFWRUHVGHDXGLR 'HVFULSFLäQGHWDOODGDGHODVIXQFLRಢ


QLGRJLUHHOERWäQ;RSXOVHGHQXHYR 3XOVHHOERWäQ&'$8;SDUDDEULUHO QHVGHOVLVWHPDGHOWHOÚIRQR 
HOERWäQ\?# VLKD\GLVSRQLEOHXQ PHQëGH&'86%L3RG$8;RHO
VLVWHPDGHOWHOÚIRQRSXOVHGXUDQWH PHQë%OXHWRRWK VLHVWÒGLVSRQLEOH R
XQRVVHJXQGRV  SDUDFDPELDUGHXQPHQëDRWUR
)XQFLRQDPLHQWREÒVLFR
3XOVHHOPDQGR0(18SDUDDEULUXQ %RWäQ0(18
/LPLWDFLäQGHYROXPHQD
VXEPHQëFRQRSFLRQHVGHVHOHFFLäQ (OPDQGR0(18HVHOHOHPHQWRGH
WHPSHUDWXUDVDOWDV
GHSLVWDV FRQWUROFHQWUDOGHORVPHQëV
&XDQGRKD\WHPSHUDWXUDVPX\DOWDV
HQHOYHKÞFXORHOVLVWHPDGHLQIRHQಢ 'HVFULSFLäQGHWDOODGDGH *LUDU
WUHWHQLPLHQWROLPLWDHOYROXPHQPÒಢ ࿢ /DVIXQFLRQHVGHOUHSURGXFWRUGH ࿢ SDUDPDUFDUXQDRSFLäQGHOPHQë
[LPRTXHVHSXHGHDMXVWDU6LHVQHಢ &' 
FHVDULRHOYROXPHQVHUHGXFHGHPDಢ ࿢ &'SDUDPRVWUDUXQDRSFLäQ
࿢ /DVIXQFLRQHVGHODHQWUDGD$8; GHOPHQë
QHUDDXWRPÒWLFD 
࿢ SDUDDMXVWDUXQYDORUQXPÚULFR
0RGRVGHIXQFLRQDPLHQWR ࿢ /DVIXQFLRQHVGHOSXHUWR86%
3XOVDU
VDOYR&'  
5DGLR ࿢ SDUDVHOHFFLRQDURDFWLYDUODRSFLäQ
࿢ )XQFLRQHVGHPëVLFD%OXHWRRWK
3XOVHHOERWäQ%$1'SDUDDEULUHO PDUFDGD
VDOYRFRQ&'  
PHQëSULQFLSDOGHODUDGLRRSDUD ࿢ &'SDUDVHOHFFLRQDURDFWLYDU
FDPELDUHQWUHEDQGDVGHIUHFXHQFLDV 7HOÚIRQR ODRSFLäQPRVWUDGD
GLVWLQWDV VLHVWÒGLVSRQLEOHHOVLVWHPDGHOWHಢ ࿢ SDUDFRQILUPDUXQYDORUDMXVWDGR
3XOVHHOPDQGR0(18SDUDDEULUXQ OÚIRQR
࿢ SDUDDFWLYDURGHVDFWLYDUXQDIXQಢ
VXEPHQëFRQRSFLRQHVGHVHOHFFLäQ 3XOVHHOERWäQ\?#SDUDVHOHFFLRQDU FLäQGHOVLVWHPD
GHHPLVRUDV HOPHQëGHOWHOÚIRQR
'HVFULSFLäQGHWDOODGDGHODVIXQFLRಢ 3XOVHHOERWäQ0(18SDUDDEULUXQ
QHVGHODUDGLR  VXEPHQëFRQRSFLRQHVSDUDODHQಢ
WUDGDRVHOHFFLäQGHQëPHURV
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

%RWäQ%$&. 3XOVHHOPDQGR0(18SDUDVHOHFFLRಢ $MXVWHGHXQYDORU


3XOVHEUHYHPHQWHHOERWäQSDUD QDUODRSFLäQPDUFDGD
࿢ VDOLUGHXQPHQë 6XEPHQëV
࿢ YROYHUGHXQVXEPHQëDOVLJXLHQWH 8QDIOHFKDHQHOERUGHGHUHFKRGHO
QLYHOVXSHULRUGHOPHQë PHQëLQGLFDTXHGHVSXÚVGHVHOHFಢ
FLRQDUODRSFLäQVHDEULUÒXQVXEಢ
(MHPSORVGHIXQFLRQDPLHQWRGH PHQëFRQRSFLRQHVDGLFLRQDOHV
PHQëV $FWLYDFLäQGHXQDMXVWH
(MHPSORVFRUUHVSRQGLHQWHVD&'
6HOHFFLRQDUXQDRSFLäQ

*LUHHOPDQGR0(18SDUDFDPELDUHO
YDORUDFWXDOGHODMXVWH
3XOVHHOPDQGR0(18SDUDFRQILUPDU
HOYDORUDMXVWDGR

*LUHHOPDQGR0(18SDUDPDUFDUHO
DMXVWHGHVHDGR
3XOVHHOPDQGR0(18SDUDDFWLYDUHO
*LUHHOPDQGR0(18SDUDPRYHUHO
DMXVWH
FXUVRU IRQGRGHFRORU KDVWDODRSಢ
FLäQGHVHDGD
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

$FWLYDU\GHVDFWLYDUXQDIXQFLäQ (MHPSORVFRUUHVSRQGLHQWHVD&' /DIOHFKDKDFLDODGHUHFKDLQGLFD


(OHPHQWRVGHPHQë\VÞPERORV TXHHOSULPHUQLYHOGHVXEPHQëVHVWÒ
DFWLYR GRVIOHFKDV KD\XQVHJXQGR
QLYHOGHVXEPHQëVDFWLYR 
/DIOHFKDKDFLDDEDMRLQGLFDKD\
RSFLRQHVDGLFLRQDOHVGLVSRQLEOHVHQ
HOVXEPHQëDFWLYR
$FWLYDFLäQGHXQDMXVWH

*LUHHOPDQGR0(18SDUDPDUFDUOD
IXQFLäQTXHGHVHDDFWLYDURGHVDFWLಢ /DVIOHFKDVKDFLDDUULED\DEDMRLQಢ
YDU GLFDQTXHHOQLYHOVXSHULRUGHOPHQë
3XOVHHOPDQGR0(18SDUDFDPELDU HVWÒDFWLYR+D\RSFLRQHVDGLFLRQDOHV
HQWUHORVDMXVWHV$FWLY\'HVDF GLVSRQLEOHVHQHOPHQëDFWLYR
*LUHHOPDQGR0(18SDUDPRVWUDU
ODVRWUDVRSFLRQHVHQHOPHQëDFWLYR
/DIOHFKDHQÒQJXORLQGLFDTXHKD\ 3XOVHHOPDQGR0(18SDUDDEULUHO
GLVSRQLEOHXQVXEPHQëFRQRSFLRQHV PHQëGHDMXVWHVFRUUHVSRQGLHQWH
DGLFLRQDOHV *LUHHOPDQGR0(18SDUDYHUHO
3XOVHHOPDQGR0(18SDUDVHOHFFLRಢ DMXVWHGHVHDGR
QDUODRSFLäQPRVWUDGD\SDUDDEULUHO 3XOVHHOPDQGR0(18SDUDDFWLYDUHO
VXEPHQëFRUUHVSRQGLHQWH DMXVWH
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

$MXVWHGHXQYDORU $FWLYDU\GHVDFWLYDUXQDIXQFLäQ

3XOVHHOERWäQ721(SDUDDEULUHO
PHQëGHWRQR
3XOVHHOPDQGR0(18SDUDDEULUHO 3XOVHHOPDQGR0(18SDUDDEULUHO
PHQëGHDMXVWHVFRUUHVSRQGLHQWH PHQëGHDMXVWHVFRUUHVSRQGLHQWH $MXVWHGHEDMRVPHGLRV\DOWRV
*LUHHOPDQGR0(18SDUDFDPELDUHO *LUHHOPDQGR0(18SDUDPDUFDUHO
YDORUDFWXDOGHODMXVWH DMXVWH$FWLYR'HVDF
3XOVHHOPDQGR0(18SDUDFRQILUPDU 3XOVHHOPDQGR0(18SDUDFRQILUPDU
HOYDORUDMXVWDGR HODMXVWHTXHVHKDPDUFDGR

$MXVWHVGHOWRQR
(QHOPHQëGHDMXVWHVGHOWRQRVH
SXHGHQDMXVWDUODVFDUDFWHUÞVWLFDVWRಢ
QDOHVGHIRUPDGLIHUHQWHSDUDFDGD
EDQGDGHIUHFXHQFLDVGHUDGLR\SDUD
FDGDIXHQWHGHOUHSURGXFWRUGHDXGLR
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

6HOHFFLRQH*UDYHV*DPPHGR $MXVWHGHODGLVWULEXFLäQGHO &RQILJXUDFLäQGHWRGRVORV


$JXGRV YROXPHQHQWUHODGHUHFKD\OD DMXVWHVDX2))
$MXVWHHOYDORUGHVHDGRSDUDODRSಢ L]TXLHUGD 0DQWHQJDSXOVDGRHOERWäQ721(
FLäQVHOHFFLRQDGD GXUDQWHXQRVVHJXQGRV

$MXVWHGHODGLVWULEXFLäQGHO 2SWLPL]DFLäQGHOWRQRSDUDHO
YROXPHQHQWUHGHODQWH\GHWUÒV HVWLORGHPëVLFD

6HOHFFLRQH%DODQFH
$MXVWHHOYDORUGHVHDGR

&RQILJXUDFLäQGHXQDMXVWH
6HOHFFLRQH$WHQXDF FRQFUHWRD 6HOHFFLRQH(FXDOL] HFXDOL]DGRU 
$MXVWHHOYDORUGHVHDGR 6HOHFFLRQHODRSFLäQGHVHDGD\PDQಢ /DVRSFLRQHVPRVWUDGDVOHRIUHFHQ
WHQJDSXOVDGRHOPDQGR0(18GXಢ DMXVWHVGHJUDYHVPHGLRV\DJXGRV
UDQWHXQRVVHJXQGRV SUHGHILQLGRV\RSWLPL]DGRVSDUDHO
HVWLORGHPëVLFDFRUUHVSRQGLHQWH
6HOHFFLRQHODRSFLäQGHVHDGD
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

$MXVWHVGHOYROXPHQ 9ROXPHQFRPSHQVDGRGH 3HUVRQDOL]DFLäQ


YHORFLGDG VäOR&'
9ROXPHQPÒ[DOHQFHQGHU
6HSXHGHQPHPRUL]DUYDULRVDMXVWHV
GHOVLVWHPDGHLQIRHQWUHWHQLPLHQWR
SRUVHSDUDGRSDUDFDGDOODYHGHOYHಢ
KÞFXOR HVGHFLUXQDMXVWHSDUDFDGD
FRQGXFWRU 

$MXVWHVPHPRUL]DGRV
$OVDFDUODOODYHGHODFHUUDGXUDGHO
HQFHQGLGRORVDMXVWHVVLJXLHQWHVVH
JXDUGDQDXWRPÒWLFDPHQWHSDUDOD
OODYHXWLOL]DGD
࿢ ëOWLPRVDMXVWHVGHOYROXPHQXQQLಢ
3XOVHHOERWäQ&21),*SDUDDEULUHO YHOGHYROXPHQSDUDWRGDVODVIXHQಢ
3XOVHHOERWäQ&21),*SDUDDEULUHO PHQëGHDMXVWHVGHOVLVWHPD WHVGHDXGLRVDOYRHOWHOÚIRQR UDಢ
PHQëGHDMXVWHVGHOVLVWHPD GLRUHSURGXFWRUGH&'$8;86%
6HOHFFLRQH$MXVWHVGHODUDGLR\OXHJR
6HOHFFLRQH$MXVWHVGHODUDGLR\OXHJR &RQWUROGHYROXPHQDXWRPÒW ࿢ WRGDVODVSUHVLQWRQÞDVGHHPLVRUDV
9ROXPHQPÒ[DOHQFHQGHU GHUDGLR
&'VHOHFFLRQH$MXVWHVGH
&'VHOHFFLRQH$MXVWHVGH DXGLR\OXHJR&RQWUROGHYROXPHQ ࿢ WRGRVORVDMXVWHVGHWRQRHVWRV
DXGLR\OXHJR9ROXPHQDODUUDQFDU DXWRPÒW DMXVWHVVHJXDUGDQSRUVHSDUDGR
SDUDFDGDXQDGHODVIXHQWHVGH
$MXVWHHOYDORUGHVHDGR (OYROXPHQFRPSHQVDGRGHYHORFLಢ
DXGLRVLJXLHQWHV VLHVWÒQGLVSRQLಢ
GDGVHSXHGHGHVDFWLYDU\HOJUDGRGH
EOHV $0)0UHSURGXFWRUGH&'
DGDSWDFLäQGHOYROXPHQVHSXHGHUHಢ
$8;86%
JXODUHQHOPHQëTXHVHPXHVWUD
࿢ ëOWLPDIXHQWHGHDXGLRDFWLYD
6HOHFFLRQHODRSFLäQGHVHDGD
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

࿢ ëOWLPDHPLVRUDGHUDGLRDFWLYD SRU 5DGLR 6HVLQWRQL]DUÒODëOWLPDHPLVRUDVHಢ


VHSDUDGRSDUDFDGDEDQGDGHIUHಢ OHFFLRQDGDHQHVDEDQGDGHIUHFXHQಢ
FXHQFLDV FLDV
0DQHMR
࿢ ëOWLPRPRGRGHYLVXDOL]DFLäQDFWLYR
࿢ ëOWLPDSRVLFLäQHQ&'GHDXGLR %RWRQHVGHFRQWURO %ëVTXHGDGHHPLVRUDV
03RFDPELDGRUGH&' VLHVWÒ /RVERWRQHVGHFRQWUROSULQFLSDOHVGH
GLVSRQLEOH FRQQëPHURGHGLVFR ODUDGLRVRQORVVLJXLHQWHV %ëVTXHGDDXWRPÒWLFDGH
QëPHURGHSLVWD\FDUSHWD ࿢ %$1'$FWLYDODUDGLR HPLVRUDV
࿢ HVWDGRGHDMXVWHGHUHSURGXFFLäQ ࿢ WY%ëVTXHGDGHHPLVRUDV 3XOVHGHIRUPDEUHYHHOERWäQWR
DOHDWRULD UHSURGXFWRUGH&' YSDUDDFWLYDUODVLJXLHQWHHPLVRUD
࿢ $6/LVWDVGHPHPRUL]DFLäQDXWRಢ GHODPHPRULDGHHPLVRUDV
࿢ DMXVWHGHHVWDGRGH73 SURJUDPD PÒWLFD
GHWUÒILFR
࿢ )$9/LVWDVGHIDYRULWRV %ëVTXHGDPDQXDOGHHPLVRUDV
࿢ SRVLFLäQGHOFXUVRUSDUDFDGDPHQë 3XOVHHOERWäQWRYGXUDQWHXQRV
HQODSDQWDOOD ࿢ %RWRQHVGHSUHVLQWRQÞDV
VHJXQGRVSDUDHPSH]DUDEXVFDUOD
$FWLYDFLäQGHODUDGLR VLJXLHQWHHPLVRUDTXHVHSXHGHUHFLಢ
$FWLYDFLäQGHVDFWLYDFLäQGHOD
3XOVHHOERWäQ%$1'SDUDDEULUHO ELUHQODEDQGDGHIUHFXHQFLDVDFWXDO
SHUVRQDOL]DFLäQ
PHQëSULQFLSDOGHODUDGLR &XDQGRVHDOFDQ]DODIUHFXHQFLDGHಢ
3XOVHHOERWäQ&21),*SDUDDEULUHO
PHQëGHDMXVWHVGHOVLVWHPD 6HVLQWRQL]DUÒODëOWLPDHPLVRUDVHಢ VHDGDODHPLVRUDVHVLQWRQL]DDXWRಢ
OHFFLRQDGD PÒWLFDPHQWH
6HOHFFLRQH$MXVWHVGHOYHKÞFXOR\
OXHJR$MXVWHVGHFRQIRUW 1RWD
6HOHFFLäQGHODEDQGDGH %ëVTXHGDGHHPLVRUDVPDQXDO6LOD
$MXVWH3HUVRQDOL]DFLäQFRQGXFWRUD IUHFXHQFLDV UDGLRQRHQFXHQWUDXQDHPLVRUD
$FWLYR'HVDF 3XOVHHOERWäQ%$1'XQDRYDULDVYHಢ FDPELDDXWRPÒWLFDPHQWHDXQQLYHO
FHVSDUDVHOHFFLRQDUODEDQGDGHIUHಢ GHEëVTXHGDPÒVVHQVLEOH6LWRGDಢ
FXHQFLDVGHVHDGD YÞDQRHQFXHQWUDXQDHPLVRUDVH
YXHOYHDVHOHFFLRQDUODIUHFXHQFLD
TXHHVWXYRDFWLYDODëOWLPDYH]
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

6LQWRQL]DFLäQPDQXDOGH 1RWD 3XOVHGHIRUPDEUHYHHOERWäQ$6


HPLVRUDV /DHPLVRUDVLQWRQL]DGDDFWXDOPHQWH SDUDDEULUXQDOLVWDGHIDYRULWRVRSDUD
*LUHHOPDQGR0(18\DMXVWHODIUHಢ DSDUHFHPDUFDGDFRQL FDPELDUDRWUDOLVWDGHPHPRUL]DFLäQ
FXHQFLDGHUHFHSFLäQäSWLPDHQOD DXWRPÒWLFD
&DGDEDQGDGHIUHFXHQFLDVGLVSRQH
SDQWDOODGHIUHFXHQFLDVHPHUJHQWH GHOLVWDVGHPHPRUL]DFLäQDXWRPÒಢ 3DUDJXDUGDUODHPLVRUDHQXQDSRVLಢ
WLFD $6$6 \VHSXHGHQJXDUGDU FLäQGHODOLVWDSXOVHHOERWäQGHHPLಢ
HPLVRUDVHQFDGDXQDGHHOODV VRUDTXHFRUUHVSRQGD  KDVWDTXH
/LVWDVGHPHPRUL]DFLäQ DSDUH]FDXQPHQVDMHGHFRQILUPDಢ
DXWRPÒWLFD 0HPRUL]DFLäQGHHPLVRUDV FLäQ
/DIXQFLäQGHPHPRUL]DFLäQDXWRPÒಢ DXWRPÒWLFD 1RWD
WLFDSHUPLWHEXVFDU\JXDUGDUDXWRಢ 0DQWHQJDSXOVDGRHOERWäQ$6KDVWD /DVHPLVRUDVDOPDFHQDGDVPDQXDOಢ
PÒWLFDPHQWHODVHPLVRUDVGHXQD TXHDSDUH]FDXQPHQVDMHGHPHPRಢ PHQWHVHVREUHVFULEHQGXUDQWHHO
EDQGDGHIUHFXHQFLDVTXHVHUHFLEHQ UL]DFLäQDXWRPÒWLFD(QODVOLVWDVGH SURFHVRGHPHPRUL]DFLäQDXWRPÒಢ
PHMRU PHPRUL]DFLäQDXWRPÒWLFDVHJXDUಢ WLFDGHHPLVRUDV
GDUÒQODVHPLVRUDVGHUDGLRGHHVD
EDQGDGHIUHFXHQFLDVTXHPHMRUVH $FWLYDUXQDHPLVRUDJXDUGDGD
UHFLEDQ 3XOVHGHIRUPDEUHYHHOERWäQ$6
SDUDDEULUXQDOLVWDGHIDYRULWRVRSDUD
3DUDFDQFHODUODPHPRUL]DFLäQDXWRಢ FDPELDUDRWUDOLVWDGHPHPRUL]DFLäQ
PÒWLFDSXOVHHOPDQGR0(18 DXWRPÒWLFD
0HPRUL]DFLäQGHHPLVRUDV 3XOVHGHIRUPDEUHYHORVERWRQHVGH
PDQXDO HPLVRUDSDUDVLQWRQL]DUODHPLಢ
VRUDGHODSRVLFLäQGHODOLVWDTXHFRಢ
/DVHPLVRUDVWDPELÚQVHSXHGHQ
UUHVSRQGD
JXDUGDUPDQXDOPHQWHHQODVOLVWDVGH
PHPRUL]DFLäQDXWRPÒWLFD
6HOHFFLRQHODHPLVRUDTXHGHVHD
JXDUGDU
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

/LVWDVGHIDYRULWRV *XDUGDUXQDHPLVRUD
/DVHPLVRUDVGHWRGDVODVEDQGDVGH 6HOHFFLRQHODHPLVRUDTXHGHVHD
IUHFXHQFLDVVHSXHGHQJXDUGDUPDಢ JXDUGDU
QXDOPHQWHHQODOLVWDGHIDYRULWRV 3XOVHGHIRUPDEUHYHHOERWäQ)$9
SDUDDEULUXQDOLVWDGHIDYRULWRVRSDUD
FDPELDUDRWUDOLVWDGHIDYRULWRV
3DUDJXDUGDUODHPLVRUDHQXQDSRVLಢ
FLäQGHODOLVWDSXOVHHOERWäQGHHPLಢ
VRUDTXHFRUUHVSRQGD  KDVWDTXH
DSDUH]FDXQPHQVDMHGHFRQILUPDಢ
FLäQ

$FWLYDUXQDHPLVRUDJXDUGDGD 3XOVHHOERWäQ&21),*
3XOVHGHIRUPDEUHYHHOERWäQ)$9 6HOHFFLRQH$MXVWHVGHODUDGLR\OXHJR
SDUDDEULUXQDOLVWDGHIDYRULWRVRSDUD )DYRULWRVGHUDGLR
FDPELDUDRWUDOLVWDGHIDYRULWRV 6HOHFFLRQHHOQëPHURGHOLVWDVGHIDಢ
3XOVHGHIRUPDEUHYHORVERWRQHVGH YRULWRVGLVSRQLEOHVTXHGHVHH
6HSXHGHQJXDUGDUHPLVRUDVHQ HPLVRUDSDUDVLQWRQL]DUODHPLಢ
FDGDOLVWDGHIDYRULWRV6HSXHGHFRQಢ VRUDGHODSRVLFLäQGHODOLVWDTXHFRಢ
ILJXUDUHOQëPHURGHOLVWDVGHIDYRULಢ UUHVSRQGD 0HQëVGHEDQGDVGH
WRVGLVSRQLEOHV YHDPÒVDEDMR  IUHFXHQFLDV
&'1RVHSXHGHFRQILJXUDUHO 'HILQLUHOQëPHURGHOLVWDVGH (QORVPHQëVHVSHFÞILFRVGHODEDQGD
QëPHURGHOLVWDVGHIDYRULWRVGLVSRಢ IDYRULWRVGLVSRQLEOHV GHIUHFXHQFLDVHQFRQWUDUÒRWUDVIXQಢ
QLEOHV QR&' FLRQHVDOWHUQDWLYDVGHVHOHFFLäQGH
1RWD HPLVRUDV
/DHPLVRUDVLQWRQL]DGDDFWXDOPHQWH
DSDUHFHPDUFDGDFRQL
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

(QHOPHQëSULQFLSDOGHODUDGLRSXOVH
HOPDQGR0(18SDUDDEULUHOPHQë
GHEDQGDGHIUHFXHQFLDVFRUUHVSRQಢ
GLHQWH
1RWD
/DVVLJXLHQWHVLQGLFDFLRQHVHVSHFÞಢ
ILFDVGH)0VHPXHVWUDQFRPR
HMHPSORV

6HOHFFLRQHODHPLVRUDUHTXHULGD 6HOHFFLRQHODHPLVRUDUHTXHULGD
1RWD 1RWD
/DHPLVRUDVLQWRQL]DGDDFWXDOPHQWH /DHPLVRUDVLQWRQL]DGDDFWXDOPHQWH
DSDUHFHPDUFDGDFRQL DSDUHFHPDUFDGDFRQL
/LVWDVGHHPLVRUDV $FWXDOL]DFLäQGHOLVWDVGHHPLVRUDV
6HOHFFLRQH/LVWDGHHPLVRUDV$0R 6L\DQRVHSXHGHQUHFLELUODVHPLVRಢ
/LVWDGHHPLVRUDV)0 UDVJXDUGDGDVHQODOLVWDGHHPLVRUDV
GHXQDEDQGDGHIUHFXHQFLDVHVSHFÞಢ
6HPXHVWUDQWRGDVODVHPLVRUDVGH
/LVWDGHIDYRULWRV ILFD
$0)0TXHVHSXHGHQVLQWRQL]DUHQ
6HOHFFLRQH/LVWDGHIDYRULWRV6H OD]RQDGHUHFHSFLäQDFWXDO 6HOHFFLRQHHOFRPDQGRFRUUHVSRQಢ
PXHVWUDQWRGDVODVHPLVRUDVGHODV GLHQWHSDUDDFWXDOL]DUXQDOLVWDGH
OLVWDVGHIDYRULWRV 1RWD HPLVRUDV
6LQRVHKDFUHDGRXQDOLVWDGHHPLಢ
VRUDVFRQDQWHULRULGDGHOVLVWHPD
GHDXGLRUHDOL]DXQDEëVTXHGDDXಢ
WRPÒWLFDGHHPLVRUDV
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

&'(OVLQWRQL]DGRUGXDOGHOVLVಢ 5HSURGXFWRUGH&' &'520;$PRGRIRUPD\


WHPDGHLQIRHQWUHWHQLPLHQWRDFWXDOL]D IRUPD
GHIRUPDFRQWLQXDODOLVWDGHHPLVRUDV
GH)0HQVHJXQGRSODQR1RVHUHಢ
,QIRUPDFLäQJHQHUDO ࿢ 6HDGPLWHQORVVLJXLHQWHVIRUPDWRV
GHDUFKLYR
TXLHUHXQDDFWXDOL]DFLäQPDQXDO (OUHSURGXFWRUGH&'GHOVLVWHPDGH
LQIRHQWUHWHQLPLHQWRSXHGHUHSURGXFLU ,62QLYHOQLYHO 5RPHR
6HLQLFLDXQDEëVTXHGDGHHPLVRUDV -ROLHW 
(QFXDQWRVHFRPSOHWHODEëVTXHGD &'GHDXGLR\&'GH03:0$
VHVLQWRQL]DUÒODëOWLPDHPLVRUDUHFLಢ (VSRVLEOHTXHORVDUFKLYRV03\
ELGD
,QIRUPDFLäQLPSRUWDQWHVREUH :0$HVFULWRVHQXQIRUPDWRGLVಢ
&'GHDXGLR\&'GH03:0$ WLQWRDOLQGLFDGRPÒVDUULEDQRVH
3DUDFDQFHODUODEëVTXHGDGHHPLVRಢ UHSURGX]FDQFRUUHFWDPHQWH\TXH
UDVSXOVHHOPDQGR0(18 ORVQRPEUHVGHDUFKLYR\QRPEUHV
$WHQFLäQ
GHFDUSHWDQRVHOHDQELHQ
1XQFDVHGHEHQLQVHUWDUGLVFRV 1RWD
'9'&'VHQFLOORVFRQXQGLÒPHಢ (OIRUPDWR,62QRHVFRPSDಢ
WURGHFPQL&'FRQIRUPDVLUUHಢ WLEOH3XHGHVHUQHFHVDULRVHOHFFLRಢ
JXODUHVHQHOUHSURGXFWRUGHDXಢ QDUPDQXDOPHQWH,62FXDQGR
GLR JUDEHXQ&'GHDXGLRSRUHMHPSOR
1RFRORTXHQLQJXQDSHJDWLQDHQ FRQ:LQGRZV
ORV&''LFKRVGLVFRVVHSXHGHQ ࿢ /RV&'FRQSURWHFFLäQDQWLFRSLD
DWDVFDUHQODXQLGDGGH&'\HVಢ TXHQRFXPSODQFRQODQRUPDGH
WURSHDUODXQLGDG(QWDOFDVRVHUÒ &'GHDXGLRQRVHUHSURGXFLUÒQ
QHFHVDULDXQDFDUDVXVWLWXFLäQGHO FRUUHFWDPHQWHRQRVHSRGUÒQUHಢ
GLVSRVLWLYR SURGXFLU
࿢ 6HDGPLWHQORVVLJXLHQWHVIRUPDWRV ࿢ /RV&'5\&'5:JUDEDGRVVRQ
GH&' PÒVYXOQHUDEOHVDXQDPDODPDQLಢ
SXODFLäQTXHORV&'SUHJUDEDGRV
&'520PRGR\PRGR
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

7UDWHELHQORV&'VREUHWRGRORV ࿢ /DVVLJXLHQWHVOLPLWDFLRQHVVRQYÒಢ 0DQHMR


&'5\&'5:JUDEDGRV9HD OLGDVSDUDORVGDWRVJXDUGDGRVHQ
PÒVDEDMR XQ&'GH03:0$ ,QLFLRGHODUHSURGXFFLäQGH&'
࿢ (VSRVLEOHTXHORV&'5\&'5: 1ëPHURGHSLVWDVPÒ[ 3XOVHHOERWäQ&'$8;SDUDDEULUHO
JUDEDGRVQRVHUHSURGX]FDQELHQR 1ëPHURGHFDUSHWDVPÒ[ PHQëGH&'R03
QRVHSXHGDQUHSURGXFLU(QHVWRV 6LKD\XQ&'HQHOUHSURGXFWRUGH&'
FDVRVHOHTXLSRQRHVWÒDYHULDGR 3URIXQGLGDGGHODHVWUXFWXUDGH
FDUSHWDVPÒ[QLYHOHV UHFRಢ VHUHSURGXFLUÒVXFRQWHQLGR
࿢ (QORV&'PL[WRV FRQSLVWDVGHDXಢ PHQGDGRPÒ[QLYHOHV 
GLR\DUFKLYRVFRPSULPLGRV
SRUHMHPSOR03 ODSDUWHFRQSLVಢ 1ëPHURGHOLVWDVGHUHSURGXFFLäQ
WDVGHDXGLR\ODSDUWHFRQDUFKLYRV PÒ[
FRPSULPLGRVVHSXHGHQUHSURGXFLU 1ëPHURGHFDQFLRQHVSRUOLVWDGH
SRUVHSDUDGR UHSURGXFFLäQPÒ[
࿢ 3URFXUHQRPDQFKDUORV&'FRQORV ([WHQVLRQHVGHOLVWDVGHUHSURGXFಢ
GHGRVDOFDPELDUORV FLäQDSOLFDEOHVPXSOVDV[Z
࿢ 9XHOYDDSRQHUORV&'HQVXIXQGD SO
MXVWRGHVSXÚVGHVDFDUORVGHOUHಢ ࿢ (VWHFDSÞWXORVäORWUDWDVREUHODUHಢ
SURGXFWRUGH&'SDUDSURWHJHUORV SURGXFFLäQGHDUFKLYRV03\D
GHODVXFLHGDG\GHFXDOTXLHUGDâR TXHORVDUFKLYRV03\:0$IXQಢ
࿢ 6LXQ&'WLHQHVXFLHGDGRHVWÒPRಢ FLRQDQLJXDO&XDQGRVHLQWURGXFH
XQ&'FRQDUFKLYRV:0$DSDUHಢ (QIXQFLäQGHORVGDWRVJXDUGDGRVHQ
MDGRSXHGHPDQFKDUVHODOHQWH
FHQORVPHQëVGHORVDUFKLYRV HO&'RHO&'GH03VHPRVWUDUÒ
TXHKD\GHQWURGHOUHSURGXFWRUGH
03 HQODSDQWDOODXQDLQIRUPDFLäQXRWUD
&'\IDOODUÒ
VREUHHO&'\ODSLVWDGHPëVLFDDFಢ
࿢ 3URWHMDORV&'GHOFDORU\ODOX]GLಢ WXDO
UHFWDGHOVRO
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

,QVHUFLäQGHXQ&' $YDQFHRUHWURFHVRUÒSLGR 3DUDVHOHFFLRQDUXQDSLVWDGH&'GH


0HWDXQ&'FRQHOODGRLPSUHVRKDFLD 3XOVHHOERWäQWRY\PDQWÚQJDOR DXGLRVHOHFFLRQH/LVWDGHSLVWDV\
DUULEDHQODUDQXUDGH&'KDVWDTXH SXOVDGRSDUDDYDQ]DURUHWURFHGHUUÒಢ OXHJRVHOHFFLRQHODSLVWDGHVHDGD
ORFRMD SLGDPHQWHGHQWURGHODSLVWDDFWXDO
'XUDQWHODUHSURGXFFLäQGH03
1RWD
6LKD\XQ&'LQVHUWDGRVHPXHVWUD
6HOHFFLäQGHSLVWDVFRQHOPHQë
HOVÞPEROR&'HQODOÞQHDVXSHULRU GH&'GHDXGLRR03
GHODSDQWDOOD
'XUDQWHODUHSURGXFFLäQGHO&'GH
&DPELRGHODYLVWDGHSÒJLQD DXGLR
QRUPDO
VäOR&'
'XUDQWHXQDUHSURGXFFLäQGH&'GH
DXGLRR03SXOVHHOPDQGR0(18
\OXHJRVHOHFFLRQH9LVWDGHSÒJLQDGH
&'SUHGHWR9LVWDGHSÒJLQDGH03
SUHGHW
6HOHFFLRQHODRSFLäQGHVHDGD 3XOVHHOPDQGR0(18SDUDDEULUHO
PHQë03FRUUHVSRQGLHQWH
&DPELRGHQLYHOGHFDUSHWDV 3DUDUHSURGXFLUWRGDVODVSLVWDVHQ
VäOR&'UHSURGXFFLäQGH03 RUGHQDOHDWRULRDMXVWH5HSURGDOHDW
3XOVHHOERWäQJRHSDUDFDPELDU WHPDVHQ$FWLY
DXQQLYHOGHFDUSHWDVXSHULRURLQIHಢ 3XOVHHOPDQGR0(18SDUDDEULUHO 3DUDVHOHFFLRQDUXQDSLVWDGHXQD
ULRU PHQëGH&'GHDXGLRFRUUHVSRQಢ FDUSHWDROLVWDGHUHSURGXFFLäQ VL
GLHQWH HVWÒGLVSRQLEOH VHOHFFLRQH/LVWDV
,UDODSLVWDVLJXLHQWHRDQWHULRU 3DUDUHSURGXFLUWRGDVODVSLVWDVHQ UHSURGXFFLäQFDUSHWDV
3XOVHGHIRUPDEUHYHHOERWäQWR RUGHQDOHDWRULRDMXVWH5HSURGDOHDW
Y WHPDVHQ$FWLY
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

6HOHFFLRQHXQDFDUSHWDROLVWDGHUHಢ (QWUDGD$8; 0DQHMR


SURGXFFLäQ\OXHJRVHOHFFLRQHOD
SLVWDGHVHDGD
,QIRUPDFLäQJHQHUDO
1RWD
6LXQ&'FRQWLHQHGDWRVGHDXGLR\
03ORVGDWRVGHDXGLRVHSXHGHQ
VHOHFFLRQDUGHVGH/LVWDV
UHSURGXFFLäQFDUSHWDV
3DUDDEULUXQPHQëFRQRSFLRQHVDGLಢ
FLRQDOHVGHEëVTXHGD\VHOHFFLäQGH
SLVWDVVHOHFFLRQH%ëVTXHGD/DVRSಢ
FLRQHVGLVSRQLEOHVGHSHQGHQGHORV
GDWRVJXDUGDGRVHQHO&'GH03
(OSURFHVRGHEëVTXHGDHQHO&'GH 3XOVHHOERWäQ&'$8;XQDRYDULDV
03SXHGHWDUGDUYDULRVPLQXWRV YHFHVSDUDDFWLYDUHOPRGR$8;
'XUDQWHHVWHWLHPSRVHUHFLELUÒODëOಢ
WLPDHPLVRUDVHOHFFLRQDGD 'HEDMRGHODFXELHUWDGHODFRQVROD 8QDIXHQWHGHDXGLRFRQHFWDGDDOD
FHQWUDOKD\XQDFRQH[LäQ$8;SDUD HQWUDGD$8;VHSXHGHDFFLRQDUVäOR
([SXOVLäQGHXQ&' FRQHFWDUIXHQWHVGHDXGLRH[WHUQDV DWUDYÚVGHORVHOHPHQWRVGHFRQWURO
3XOVHHOERWäQG 1RWD GHODIXHQWHGHDXGLR
(O&'VHUÒH[SXOVDGRGHODUDQXUDGH /DWRPDVLHPSUHGHEHHVWDUOLPSLD\
&' VHFD
6LHO&'QRVHUHWLUDGHVSXÚVGHOD 3RUHMHPSORVHSXHGHFRQHFWDUXQ
H[SXOVLäQVHYROYHUÒDLQWURGXFLUHQ UHSURGXFWRUGH&'SRUWÒWLOFRQXQD
ODXQLGDGDXWRPÒWLFDPHQWHDORVSRಢ FODYLMDGHPPDODHQWUDGD$8;
FRVVHJXQGRV
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

3XHUWR86% ,QIRUPDFLäQLPSRUWDQWH 5HSURGXFLUDUFKLYRVGH


6HSXHGHQFRQHFWDUORVVLJXLHQWHV DXGLRJXDUGDGRV
,QIRUPDFLäQJHQHUDO GLVSRVLWLYRVDOSXHUWR86%
VäOR&'FRQ3',0 ࿢ L3RG
࿢ =XQH
࿢ 'LVSRVLWLYR3OD\V)RU6XUH 3)'
࿢ 8QLGDG86%
1RWD
1RWRGRVORVPRGHORVGHL3RG=XQH
3)'RXQLGDG86%VRQFRPSDWLEOHV
FRQHOVLVWHPDGHDXGLR
1RWD
1RLQVHUWHXQGLVSRVLWLYRGHXQLGDG
86%FRQXQDORQJLWXGVXSHULRUD
PP8QGLVSRVLWLYRPÒVODUJRVH 3XOVHHOERWäQ&'$8;XQDRYDULDV
SXHGHGDâDUDOUHEDWLUHOUHSRVDEUDಢ YHFHVSDUDDFWLYDUHOPRGR86%
'HEDMRGHODFXELHUWDGHODFRQVROD ]RV 6HLQLFLDODUHSURGXFFLäQGHORVGDWRV
FHQWUDOKD\XQSXHUWR86%SDUDFRಢ GHDXGLRJXDUGDGRVHQHODSDUDWR
QHFWDUIXHQWHVGHDXGLRH[WHUQDV 86%
/RVGLVSRVLWLYRVFRQHFWDGRVDOSXHUWR /DVIXHQWHVGHGDWRVFRQHFWDGDVD
86%VHFRQWURODQFRQORVPDQGRV\ WUDYÚVGH86%VHFRQWURODQEÒVLFDಢ
PHQëVGHOVLVWHPDGHLQIRHQWUHWHQLಢ PHQWHFRPRVLIXHUDXQ&'GHDXGLR
PLHQWR 03 
1RWD
/DWRPDVLHPSUHGHEHHVWDUOLPSLD\
VHFD
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

$FRQWLQXDFLäQHQFRQWUDUÒVäORORV 3DUDUHSURGXFLUWRGDVODVSLVWDVGH 0ëVLFD%OXHWRRWK


DVSHFWRVGHIXQFLRQDPLHQWRTXHVRQ IRUPDVXFHVLYDVHOHFFLRQH
GLVWLQWRVDORVGHVFULWRVRELHQIXQFLRಢ 5HSURGXFLUWRGRV
QHVDGLFLRQDOHV
,QIRUPDFLäQJHQHUDO
3DUDPRVWUDUXQPHQëFRQYDULDVRSಢ
(OIXQFLRQDPLHQWR\ODVSDQWDOODVTXH FLRQHVDGLFLRQDOHVGHEëVTXHGD\VHಢ VäOR&'FRQ%OXHWRRWK3',0
VHGHVFULEHQFRUUHVSRQGHQDXQLGDಢ OHFFLäQGHSLVWDVVHOHFFLRQH /DVIXHQWHVGHDXGLRKDELOLWDGDVSDUD
GHV86%(OIXQFLRQDPLHQWRGHRWURV %ëVTXHGD %OXHWRRWK SHMPäYLOHVFRQPëVLFD
DSDUDWRVFRPRL3RGR=XQHHVSUÒFಢ (OSURFHVRGHEëVTXHGDHQHODSDUDWR UHSURGXFWRUHV03FRQIXQFLäQ%OXHಢ
WLFDPHQWHHOPLVPR 86%SXHGHWDUGDUYDULRVPLQXWRV WRRWKHWF FRPSDWLEOHVFRQHOSURWRಢ
'XUDQWHHVWHWLHPSRVHUHFLELUÒODëOಢ FRORGHPëVLFD$'3SXHGHQFRQHFಢ
6HOHFFLäQGHSLVWDVFRQHOPHQë WLPDHPLVRUDVHOHFFLRQDGD WDUVHSRUYÞDLQDOÒPEULFDFRQHOVLVಢ
86% WHPDGHLQIRHQWUHWHQLPLHQWR
3DUDUHSURGXFLUWRGDVODVSLVWDVHQ
RUGHQDOHDWRULRDMXVWH0H]FODU ,QIRUPDFLäQLPSRUWDQWH
FDQFLRQHV DOHDWRULR HQ$FWLY ࿢ 3DUDFRQHFWDUXQGLVSRVLWLYR%OXHಢ
3DUDUHSHWLUODSLVWDTXHVHVHOHFಢ WRRWKDOVLVWHPDGHLQIRHQWUHWHQLಢ
FLRQDHQHVHPRPHQWRDMXVWH PLHQWRVHWLHQHTXHHPSDUHMDUDQಢ
5HSHWLUHQ$FWLY WHVFRQHOVLVWHPD 
࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
VäORVHFRQHFWDFRQGLVSRVLWLYRV
%OXHWRRWKFRPSDWLEOHVFRQ$'3
$GYDQFHG$XGLR'LVWULEXWLRQ3URಢ
ILOH YHUVLäQRVXSHULRU
࿢ (OGLVSRVLWLYR%OXHWRRWKGHEHVHU
FRPSDWLEOHFRQ$95&3 $XGLR9Lಢ
3XOVHHOPDQGR0(18SDUDDEULUHO GHR5HPRWH&RQWURO3URILOH YHUಢ
PHQë86%FRUUHVSRQGLHQWH VLäQRVXSHULRU6LHOGLVSRVLWLYR
QRHVFRPSDWLEOHFRQ$95&3VäOR
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

SRGUÒFRQWURODUVHHOYROXPHQDWUDಢ (PSDUHMDPLHQWRGHXQGLVSRVLWLYR
YÚVGHOVLVWHPDGHLQIRHQWUHWHQLಢ %OXHWRRWK
PLHQWR ,QIRUPDFLäQLPSRUWDQWH
࿢ $QWHVGHFRQHFWDUHOGLVSRVLWLYR ࿢ (OSURFHVRGHHPSDUHMDPLHQWRVH
%OXHWRRWKFRQHOVLVWHPDGHLQIRHQಢ GHVDFWLYDFXDQGRHOYHKÞFXORVH
WUHWHQLPLHQWRIDPLOLDUÞFHVHHQVX PXHYH
JXÞDGHXVXDULRFRQODVIXQFLRQHV ࿢ (VSRVLEOHHPSDUHMDUKDVWDFLQFR
%OXHWRRWK GLVSRVLWLYRVDOVLVWHPD
࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
&RQILJXUDFLäQGHPëVLFD VHFRQHFWDDXWRPÒWLFDPHQWHDOSULಢ
PHUDSDUDWRGHODOLVWDGHGLVSRVLWLಢ
%OXHWRRWK YRVHPSDUHMDGRVDFWXDO
(OPHQë&RQILJXUDFLäQGHPëVLFD
%OXHWRRWKVHHQFDUJDGHHPSDUHMDU\
$FWLYDFLäQGHOPHQë ࿢ 6äORSRGUÒFRQHFWDUVHDOPLVPR
&RQILJXUDFLäQGHPëVLFD WLHPSRXQRGHORVGLVSRVLWLYRVHPಢ
FRQHFWDUORVGLVSRVLWLYRV%OXHWRRWK SDUHMDGRVDOVLVWHPDGHLQIRHQWUHಢ
FRQHOVLVWHPDGHLQIRHQWUHWHQLಢ %OXHWRRWK
WHQLPLHQWR
PLHQWR 3XOVHHOERWäQ&'$8;XQDRYDULDV
YHFHVSDUDDFWLYDUHOPRGR$8;86% ࿢ 3RUUHJODJHQHUDOHOHPSDUHMDಢ
R%OXHWRRWK PLHQWRVäORVHUHDOL]DXQDYH]
VDOYRTXHVHFDPELHODLQIRUPDFLäQ
3XOVHHOERWäQ0(18\OXHJRVHOHFಢ
GHHPSDUHMDPLHQWRRVHHOLPLQHHO
FLRQH&RQILJXUDFLäQGH%OXHWRRWK
GLVSRVLWLYR
3URFHGLPLHQWRGHHPSDUHMDPLHQWR
6HOHFFLRQH&RQHFWDUDXQGLVSRVLWLYR
QXHYR
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR 6HOHFFLRQHODFDWHJRUÞDGHVHDGD(O &DPELRGHO3,1SUHGHWHUPLQDGR


UHDOL]DXQDVHULHGHSUHJXQWDVSDUD GLVSRVLWLYRHVWÒFRQHFWDGRDOVLVWHPD
GHWHUPLQDUTXÚWLSRGHGLVSRVLWLYR GHLQIRHQWUHWHQLPLHQWR
%OXHWRRWKVHGHVHDHPSDUHMDU 6LKD\FRQHFWDGRRWURGLVSRVLWLYR
&XDQGRVHKDGHWHUPLQDGRVHWLHQH %OXHWRRWKDOVLVWHPDGHLQIRHQWUHWHQLಢ
TXHVHOHFFLRQDUHOPRGRGHGHVFXEULಢ PLHQWRVHGHVFRQHFWDUÒGHOVLVWHPD
PLHQWRHQHOGLVSRVLWLYR%OXHWRRWK
YHDODJXÞDGHXVXDULRGHOGLVSRVLWLYR (OLPLQDFLäQGHXQGLVSRVLWLYR
%OXHWRRWK  HPSDUHMDGR
(QDOJXQRVGLVSRVLWLYRV%OXHWRRWKHV 6HOHFFLRQH4XLWDUGLVSRVLWLYR
SRVLEOHTXHWHQJDTXHLQWURGXFLUXQ $SDUHFHUÒXQDOLVWDFRQWRGRVORVGLVಢ
FäGLJR3,1SDUDFRPSOHWDUHOHPSDಢ SRVLWLYRV%OXHWRRWKDFWXDOPHQWHHPಢ
UHMDPLHQWR%XVTXHHOGLVSRVLWLYR SDUHMDGRVFRQHOVLVWHPDGHLQIRHQಢ
*0XVLF&RQQHFWHQODOLVWDGHGLVSRಢ WUHWHQLPLHQWR
VLWLYRV%OXHWRRWK\VLJDODVLQVWUXFFLRಢ 6HOHFFLRQH&DPELDU3,1SRUGHIHFWR
6HOHFFLRQHODFDWHJRUÞDGHVHDGD(O
QHVGHOGLVSRVLWLYRSDUDLQWURGXFLUHO GLVSRVLWLYRVHHOLPLQDUÒGHODOLVWDGH 6HOHFFLRQHXQRGHORVFäGLJRV3,1
FäGLJR3,1VXPLQLVWUDGRSRUHOVLVಢ GLVSRVLWLYRVHPSDUHMDGRV SUHGHWHUPLQDGRVRVHOHFFLRQH2WUR
WHPDGHLQIRHQWUHWHQLPLHQWR SDUDFUHDUXQ3,1QXHYR
3DUDFUHDUXQ3,1QXHYR
&RQH[LäQGHXQGLVSRVLWLYR 6HOHFFLRQH2WUR\OXHJRVHOHFFLRQHOD
HPSDUHMDGR ORQJLWXGTXHGHVHHSDUDHOFäGLJR
6HOHFFLRQH6HOHFFLRQDUGLVSRVLWLYR 3,1
$SDUHFHUÒXQDOLVWDFRQWRGRVORVGLVಢ 6HOHFFLRQHORVGÞJLWRVGHOFäGLJR3,1
SRVLWLYRV%OXHWRRWKDFWXDOPHQWHHPಢ GHXQRHQXQR
SDUHMDGRVFRQHOVLVWHPDGHLQIRHQಢ
WUHWHQLPLHQWR 3DUDERUUDUORVGÞJLWRVLQWURGXFLGRV
DQWHULRUPHQWHSXOVHHOERWäQ%$&.
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

0DQHMR ,QLFLDUODUHSURGXFFLäQGHSLVWDV 3DUDUHLQLFLDUODUHSURGXFFLäQSXOVH


(QIXQFLäQGHOGLVSRVLWLYR%OXHWRRWK GHQXHYRHOERWäQU
FRQHFWDGR
࿢ ODUHSURGXFFLäQGHPëVLFDHPSLH]D
DXWRPÒWLFDPHQWHR
࿢ ODUHSURGXFFLäQGHPëVLFDVHWLHQH
TXHLQLFLDUFRQORVPDQGRVGHOGLVಢ
SRVLWLYR%OXHWRRWK
/DUHSURGXFFLäQGHGDWRVGHPëVLFD
DOPDFHQDGRVHQHOGLVSRVLWLYR%OXHಢ
WRRWKVHSXHGHFRQWURODUDKRUDDWUDಢ
YÚVGHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWRFRQORVERWRQHVWY\U
3XOVHHOERWäQ&'$8;XQDRYDULDV
YHFHVSDUDDFWLYDUHOPRGR%OXHWRRWK
6DOWDUDODSLVWDVLJXLHQWHR
DQWHULRU
6LHVWÒGLVSRQLEOHHOSULPHUGLVSRVLಢ
3XOVHGHIRUPDEUHYHHOERWäQWR
WLYRGHODOLVWDGHGLVSRVLWLYRV%OXHಢ
Y
WRRWKHPSDUHMDGRV VHFRQHFWD
DXWRPÒWLFDPHQWHDOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWR
$YDQFHRUHWURFHVRUÒSLGR
3XOVHHOERWäQWRY\PDQWÚQJDOR
3DUDFRQHFWDUVHDRWURGLVSRVLWLYR SXOVDGRSDUDDYDQ]DURUHWURFHGHUUÒಢ
%OXHWRRWKHPSDUHMDGR  SLGDPHQWHGHQWURGHODSLVWDDFWXDO

3DXVD
3XOVHHOERWäQU
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

5HFRQRFLPLHQWRGHYR] 3DUDJDUDQWL]DUTXHODVFRQYHUVDFLRಢ &DQFHODUXQGLÒORJR


QHVGHQWURGHOYHKÞFXORQRSURGX]FDQ +D\YDULDVSRVLELOLGDGHVGHGHVDFWLಢ
XQDDFWLYDFLäQDFFLGHQWDOGHODVIXQಢ YDUHOUHFRQRFLPLHQWRGHYR]\FDQಢ
,QIRUPDFLäQJHQHUDO FLRQHVGHOVLVWHPDHOUHFRQRFLPLHQWR FHODUHOGLÒORJR
(OUHFRQRFLPLHQWRGHYR] VLORKXಢ GHYR]QRIXQFLRQDKDVWDTXHVHDFಢ
ELHUD GHOVLVWHPDGHLQIRHQWUHWHQLಢ WLYD ࿢ 3XOVHHOERWäQ[HQHOYRODQWH
PLHQWROHSHUPLWHUHDOL]DUYDULDVIXQಢ ࿢ 'LJD&DQFHODU
FLRQHVGHOVLVWHPDGHOWHOÚIRQRDWUDಢ ࿢ 1RLQWURGX]FD GLJD QLQJëQFRಢ
YÚVGHODHQWUDGDGHYR]3XHGHGHಢ &RQWUROGHOWHOÚIRQR
PDQGRGXUDQWHXQWLHPSR
WHFWDUFRPDQGRV\VHFXHQFLDVQXPÚಢ
ULFDVFRQLQGHSHQGHQFLDGHOKDEODQWH $FWLYDUHOUHFRQRFLPLHQWRGHYR] ࿢ 'HVSXÚVGHOWHUFHUFRPDQGRQRUHಢ
HQFXHVWLäQ/RVFRPDQGRV\VHFXHQಢ VLORKXELHUD FRQRFLGR
FLDVQXPÚULFDVVHSXHGHQGHFLUVLQ 3DUDDFWLYDUHOUHFRQRFLPLHQWRGHYR]
XQDSDXVDGHYR]HQWUHFDGDSDODEUD GHOVLVWHPDGHOWHOÚIRQRSXOVHHOERಢ
0DQHMR
WäQZHQHOYRODQWH0LHQWUDVGXUHHO &RQODD\XGDGHOUHFRQRFLPLHQWRGH
3XHGHJXDUGDUORVQëPHURVGHWHOÚಢ YR]VHSXHGHPDQHMDUHOWHOÚIRQRPäಢ
IRQRDVLJQDQGRXQQRPEUHGHVX GLÒORJRVHVXSULPHHOVRQLGRGHFXDOಢ
TXLHUIXHQWHGHDXGLRDFWLYD\VHFDQಢ YLOFäPRGDPHQWHPHGLDQWHLQVWUXFಢ
HOHFFLäQ HWLTXHWDGHYR] 6LXVDHVಢ FLRQHVKDEODGDV HQWUDGDGHYR] 
WRVQRPEUHVSXHGHHVWDEOHFHUGHVಢ FHODODHPLVLäQGHQRWLFLDVGHWUÒILFR
%DVWDFRQDFWLYDUHOUHFRQRFLPLHQWR
SXÚVXQDFRQH[LäQWHOHIäQLFD GHYR]HLQWURGXFLU GHFLU HOFRPDQGR
$MXVWDUHOYROXPHQGHODVDOLGD
(QFDVRGHIXQFLRQDPLHQWRRFRPDQಢ GHVHDGR8QDYH]LQWURGXFLGRHOFRಢ
GRVLQFRUUHFWRVHOUHFRQRFLPLHQWRGH GHYR] PDQGRHOVLVWHPDGHLQIRHQWUHWHQLಢ
YR]OHSURSRUFLRQDLQIRUPDFLäQDFëVಢ *LUHHOERWäQGHOYROXPHQHQHOVLVಢ PLHQWROHJXÞDDWUDYÚVGHOGLÒORJR
WLFD\OHSLGHTXHUHSLWDHOFRPDQGR WHPDGHLQIRHQWUHWHQLPLHQWRRSXOVH FRQLQIRUPDFLäQ\SUHJXQWDVDSURSLDಢ
GHVHDGR$GHPÒVHOUHFRQRFLPLHQWR HOERWäQRಧHQHOYRODQWH GDVSDUDORJUDUODDFFLäQGHVHDGD
GHYR]FRQILUPDODUHFHSFLäQGHFRಢ
PDQGRVLPSRUWDQWHV\SUHJXQWDUÒHQ
FDVRQHFHVDULR
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

&RPDQGRVSULQFLSDOHV ࿢ 6ÞVHLQLFLDXQDDFFLäQDGHFXDGD ࿢ 0ÒVVHLQWURGXFHXQSUHILMR


7UDVODDFWLYDFLäQGHOUHFRQRFLPLHQWR GHSHQGLHQGRGHOFRQWH[WR SDUDXQDOODPDGDDOH[WUDQMHUR
GHYR]XQEUHYHSLWLGRLQGLFDTXHHO ࿢ 1RVHLQLFLDXQDDFFLäQDGHಢ ࿢ 9HULILFDUODVDOLGDGHYR]UHSLWH
UHFRQRFLPLHQWRGHYR]HVWÒHVSHಢ FXDGDGHSHQGLHQGRGHOFRQWH[WR ORVGDWRVLQWURGXFLGRV
UDQGRLQVWUXFFLRQHVKDEODGDV HQಢ ࿢ $VWHULVFRVHLQWURGXFHXQDVWHಢ
WUDGDGHYR]  ,QWURGXFLUXQQëPHURGHWHOÚIRQR
ULVFR 
3ULQFLSDOHVFRPDQGRVGLVSRQLEOHV 'HVSXÚVGHOFRPDQGR0DUFDUHO
UHFRQRFLPLHQWRGHYR]VROLFLWDTXHVH ࿢ $OPRKDGLOOD6HLQWURGXFHXQDDOಢ
࿢ 0DUFDU LQWURGX]FDXQQëPHUR PRKDGLOOD
࿢ /ODPDU 'HEHSURQXQFLDUHOQëPHURGHWHOÚಢ ࿢ $\XGD
࿢ 9ROYLHQGRDPDUFDU IRQRFRQVXWRQRGHYR]QRUPDOVLQ ࿢ &DQFHODU
࿢ *XDUGDU SDXVDVDUWLILFLDOHVHQWUHQëPHURV /DORQJLWXGPÒ[LPDGHOQëPHURGHWHಢ
࿢ %RUUDU (OUHFRQRFLPLHQWRIXQFLRQDPHMRUVL OÚIRQRLQWURGXFLGRHVGHGÞJLWRV
UHDOL]DXQDSDXVDGHPHGLRVHJXQGR 3DUDSRGHUHIHFWXDUXQDOODPDGDDO
࿢ 'LUHFWRULR FRPRPÞQLPRGHVSXÚVGHXQJUXSR H[WUDQMHURSXHGHGHFLUODSDODEUD
࿢ (PSDUHMDU GHWUHVDFLQFRGÞJLWRV$FRQWLQXDಢ 0DV  DOSULQFLSLRGHOQëPHUR(O
࿢ 6HOHFFLRQDUXQGLVSRVLWLYR FLäQHOVLVWHPDGHLQIRHQWUHWHQLಢ PÒV  OHSHUPLWHOODPDUGHVGH
PLHQWRUHSLWHORVQëPHURVUHFRQRFLಢ FXDOTXLHUSDÞVVLQWHQHUTXHVDEHUHO
࿢ 5HVSXHVWDGHYR]
GRV SUHILMRXVDGRSDUDOODPDUDOH[WUDQMHUR
&RPDQGRVGLVSRQLEOHV /XHJRSXHGHLQWURGXFLUPÒVQëPHURV HQGLFKRSDÞV$FRQWLQXDFLäQGLJDHO
IUHFXHQWHPHQWH RORVVLJXLHQWHVFRPDQGRV FäGLJRGHSDÞVUHTXHULGR
࿢ $\XGDVHFDQFHODHOGLÒORJR\VH ࿢ 0DUFDUVHDFHSWDQORVGDWRVLQಢ (MHPSORGHGLÒORJR
HQXPHUDQWRGRVORVFRPDQGRVGLVಢ WURGXFLGRV 8VXDULR0DUFDU
SRQLEOHVFRQODIXQFLäQDFWXDO
࿢ %RUUDUVHERUUDHOëOWLPRQëPHUR 6DOLGDGHYR]3RUIDYRUGLJDHO
࿢ &DQFHODUHOUHFRQRFLPLHQWRGH LQWURGXFLGRRHOëOWLPRJUXSRGHQëಢ QëPHURSDUDPDUFDU
YR]VHGHVDFWLYD PHURV 8VXDULR0ÒV&XDWUR1XHYH
6DOLGDGHYR]0ÒV&XDWUR1XHYH
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

8VXDULR6LHWH7UHV8QR 6DOLGDGHYR]°'HVHDOODPDUD 6DOLGDGHYR]3RUIDYRUGLJDXQ


6DOLGDGHYR]6LHWH7UHV8QR 0LJXHO!" QëPHURSDUDHQYLDU
8VXDULR8QR8QR1XHYH1XHYH 8VXDULR6Þ SDUDODHQWUDGDGHQëPHURVYÚDVH
6DOLGDGHYR]6HHVWÒYROYLHQGRD HOHMHPSORGHGLÒORJRHQ,QWURGXFLUXQ
6DOLGDGHYR]8QR8QR1XHYH QëPHURGHWHOÚIRQR
1XHYH PDUFDUHOQëPHUR
8VXDULR(QYLDU
8VXDULR0DUFDU ,QLFLDUXQDVHJXQGDOODPDGD
6DOLGDGHYR]6HHVWÒYROYLHQGRD 6HSXHGHLQLFLDUXQDVHJXQGDOODಢ 9ROYLHQGRDPDUFDU
PDUFDUHOQëPHUR PDGDGXUDQWHXQDOODPDGDWHOHIäQLFD 6HSXHGHYROYHUDPDUFDU UHOODPDGD
DFWLYD3DUDHOORSXOVHHOERWäQZ HOëOWLPRQëPHURPDUFDGRFRQHOFRಢ
,QWURGXFLUXQQRPEUH PDQGR9ROYLHQGRDPDUFDU
&RPDQGRVGLVSRQLEOHV
0HGLDQWHHOFRPDQGR/ODPDUVHLQಢ
WURGXFHXQQëPHURGHWHOÚIRQRTXHVH ࿢ (QYLDUDFWLYDUHO'70) PDUFDGR *XDUGDU
KDJXDUGDGRFRQXQQRPEUH HWLTXHWD SRUWRQRV PDQXDOSHMSDUDFRಢ 8QQëPHURGHWHOÚIRQRVHJXDUGDHQ
GHYR] HQODDJHQGDWHOHIäQLFD UUHRGHYR]REDQFDWHOHIäQLFD ODDJHQGDWHOHIäQLFDFRQXQQRPEUH
&RPDQGRVGLVSRQLEOHV ࿢ (QYLDUHWLTXHWDGHQRPEUHDFWLಢ HWLTXHWDGHYR] FRQHOFRPDQGRGH
YDUHO'70) PDUFDGRSRUWRQRV YR]*XDUGDU
࿢ 6Þ LQWURGXFLHQGRXQQRPEUH HWLTXHWD (OQRPEUHLQWURGXFLGRGHEHUHSHWLUVH
࿢ 1R GHYR]  XQDYH](OWRQR\ODSURQXQFLDFLäQ
࿢ $\XGD ࿢ 0DUFDU GHEHQVHUORPÒVSDUHFLGRVTXHVHD
࿢ &DQFHODU ࿢ /ODPDU SRVLEOHHQDPEDVHQWUDGDVGHOQRPಢ
EUHHQFDVRFRQWUDULRHOUHFRQRFLಢ
(MHPSORGHGLÒORJR ࿢ 9ROYLHQGRDPDUFDU PLHQWRGHYR]UHFKD]DUÒODVHQWUDಢ
8VXDULR/ODPDU ࿢ $\XGD GDV
6DOLGDGHYR]3RUIDYRUGLJDOD ࿢ &DQFHODU 6HSXHGHQJXDUGDUXQPÒ[LPRGH
HWLTXHWDGHOQRPEUHSDUDOODPDU
(MHPSORGHGLÒORJR HWLTXHWDVGHYR]HQODDJHQGDWHಢ
8VXDULR1RPEUH! 8VXDULR(QYLDU OHIäQLFD
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

/DVHWLTXHWDVGHYR]HVWÒQDVLJQDGDV SDUDODHQWUDGDGHQëPHURVYÚDVH (VFXFKDUORVQRPEUHVJXDUGDGRV


DOKDEODQWHHVGHFLUVäORSXHGH HOHMHPSORGHGLÒORJRHQ,QWURGXFLUXQ /DUHSURGXFFLäQKDEODGD VDOLGDGH
DEULUODVODSHUVRQDTXHODVJUDEä QëPHURGHWHOÚIRQR YR] GHWRGRVORVQRPEUHVJXDUGDGRV
3DUDHYLWDUTXHVHFRUWHHOFRPLHQ]R 8VXDULR*XDUGDU HWLTXHWDVGHYR] VHLQLFLDFRQHOFRಢ
GHODJUDEDFLäQGHXQQRPEUHGHEHಢ PDQGR'LUHFWRULR
6DOLGDGHYR]3RUIDYRUGLJDOD
UÞDGHMDUVHXQDEUHYHSDXVDGHVSXÚV HWLTXHWDGHOQRPEUHSDUDJXDUGDU &RPDQGRVGLVSRQLEOHVGXUDQWHODUHಢ
GHXQDVROLFLWXGGHHQWUDGD SURGXFFLäQKDEODGDGHODVHWLTXHWDV
8VXDULR1RPEUH!
3DUDSRGHUXVDUODHWLTXHWDGHYR] GHYR]
FRQLQGHSHQGHQFLDGHODXELFDFLäQ 6DOLGDGHYR]3RUIDYRUUHSLWDOD
࿢ /ODPDUVHVHOHFFLRQDHOQëPHUR
HVGHFLULQFOXLGRVRWURVSDÞVHVWRGRV HWLTXHWDGHOQRPEUHSDUDFRQILUPDU
GHWHOÚIRQRGHODëOWLPDHWLTXHWDGH
ORVQëPHURVGHWHOÚIRQRGHEHUÞDQLQಢ 8VXDULR1RPEUH! YR]UHSURGXFLGD
WURGXFLUVHFRQHOFDUÒFWHUPÒV  \ 6DOLGDGHYR]*XDUGDQGRODHWLTXHWD ࿢ %RUUDUVHERUUDODHQWUDGDGHOD
HOFäGLJRGHSDÞV GHOQRPEUH ëOWLPDHWLTXHWDGHYR]UHSURGXFLGD
&RPDQGRVGLVSRQLEOHV
%RUUDU $âDGLURERUUDUXQWHOÚIRQRPäYLOGH
࿢ *XDUGDUVHDFHSWDQORVGDWRVLQಢ
3DUDERUUDUXQDHWLTXHWDGHYR]JXDUಢ ODOLVWDGHGLVSRVLWLYRV
WURGXFLGRV
GDGDFRQDQWHULRULGDGXWLOLFHHOFRಢ &RQHOFRPDQGR(PSDUHMDUVH
࿢ 9HULILFDUVHUHSLWHODëOWLPDHQಢ PDQGR%RUUDU SXHGHDâDGLURERUUDUXQWHOÚIRQRPäಢ
WUDGD YLOGHODOLVWDGHGLVSRVLWLYRVGHOVLVಢ
&RPDQGRVGLVSRQLEOHV
࿢ $\XGD WHPDGHOWHOÚIRQR 
࿢ 6Þ
࿢ &DQFHODU &RPDQGRVGLVSRQLEOHV
࿢ 1R
(MHPSORGHGLÒORJR ࿢ $âDGLU
࿢ $\XGD
8VXDULR*XDUGDU ࿢ %RUUDU
࿢ &DQFHODU
6DOLGDGHYR]3RUIDYRUGLJDHO ࿢ $\XGD
QëPHURSDUDJXDUGDU
࿢ &DQFHODU
(MHPSORGHGLÒORJR
8VXDULR(PSDUHMDU
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

6DOLGDGHYR]°'HVHDDâDGLUR 6DOLGDGHYR]°'HVHDVHOHFFLRQDU 7HOÚIRQR


ERUUDUXQGLVSRVLWLYR" XQQëPHURGHGLVSRVLWLYRQëಢ
PHURBGLVSRVLWLYR!"
8VXDULR$âDGLU ,QIRUPDFLäQJHQHUDO
6DOLGDGHYR]7UDWHGHHPSDUHMDU 8VXDULR6Þ
(OVLVWHPDGHOWHOÚIRQR VLORKXELHUD
FRQ!HQHOGLVSRVLWLYRH[WHUQR 6DOLGDGHYR]°'HVHDHPSDUHMDUHO OHRIUHFHODSRVLELOLGDGGHPDQWHQHU
6DOLGDGHYR]°'HVHDHPSDUHMDUHO GLVSRVLWLYR" FRQYHUVDFLRQHVGHWHOHIRQÞDPäYLOD
GLVSRVLWLYR" 8VXDULR6Þ WUDYÚVGHXQPLFUäIRQR\ORVDOWDYRಢ
8VXDULR6Þ 6DOLGDGHYR]8QPRPHQWR(O FHVGHOYHKÞFXORDVÞFRPRGHPDQHಢ
VLVWHPDHVWÒEXVFDQGRHOGLVSRVLWLYR MDUODVSULQFLSDOHVIXQFLRQHVGHOWHOÚಢ
6DOLGDGHYR](OGLVSRVLWLYRHVWÒ IRQRPäYLOPHGLDQWHHOVLVWHPDGHLQಢ
FRQHFWDGRFRPRHOQëPHUR VHOHFFLRQDGR
IRHQWUHWHQLPLHQWRGHOYHKÞFXOR3DUD
QëPHURBGHBGLVSRVLWLYR! 6DOLGDGHYR]6HKDVHOHFFLRQDGR SRGHUXVDUHOVLVWHPDGHOWHOÚIRQRHO
XQQëPHURGHGLVSRVLWLYR WHOÚIRQRPäYLOGHEHHVWDUFRQHFWDGR
6HOHFFLRQDUXQWHOÚIRQRPäYLOGHOD GHYBQXP!
OLVWDGHGLVSRVLWLYRV FRQHOSRUWDOPHGLDQWH%OXHWRRWK
&RQHOFRPDQGR6HOHFFLRQDUXQ 5HVSXHVWDGHYR] 2SFLRQDOPHQWHSXHGHPDQHMDUVHHO
GLVSRVLWLYRVHSXHGHVHOHFFLRQDUXQ &DGDHQWUDGDGHYR]HVUHVSRQGLGDR VLVWHPDGHOWHOÚIRQRPHGLDQWHHOVLVಢ
WHOÚIRQRPäYLOGHODOLVWDGHGLVSRVLWLಢ FRPHQWDGDSRUHOVLVWHPDGHLQIRHQಢ WHPDGHUHFRQRFLPLHQWRGHYR]
YRVSDUDHVWDEOHFHUXQDFRQH[LäQ WUHWHQLPLHQWRPHGLDQWHXQDVDOLGDGH 1RWRGDVODVIXQFLRQHVGHOVLVWHPD
%OXHWRRWK YR]DGDSWDGDDODVLWXDFLäQ GHOWHOÚIRQRVRQFRPSDWLEOHVFRQWRಢ
(MHPSORGHGLÒORJR 3DUDDFWLYDURGHVDFWLYDUODUHVSXHVWD GRVORVWHOÚIRQRVPäYLOHV/DVIXQFLRಢ
8VXDULR6HOHFFLRQDUXQGLVSRVLWLYR GHYR]LQWURGX]FD5HVSXHVWDGH QHVGLVSRQLEOHVGHSHQGHQGHOWHOÚಢ
YR] IRQRPäYLOSHUWLQHQWH\GHORSHUDGRU
6DOLGDGHYR]3RUIDYRUGLJDXQ
GHODUHG(QFRQWUDUÒPÒVLQIRUPDಢ
QëPHURGHGLVSRVLWLYRSDUD
FLäQVREUHHVWHWHPDHQODVLQVWUXFಢ
VHOHFFLRQDU
FLRQHVGHXVRGHVXWHOÚIRQRPäYLOR
8VXDULRQëPHURBGHBGLVSRVLWLYR! FRQVXOWDQGRDVXRSHUDGRUGHUHG
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

,QIRUPDFLäQLPSRUWDQWHSDUDHO OÚIRQRPäYLOVLHOXVRGHORVPLVಢ (OHPHQWRVGHFRQWURO


PDQHMR\ODVHJXULGDGYLDO PRVHVWÒSURKLELGRVLHOWHOÚIRQR /RVSULQFLSDOHVHOHPHQWRVGHPDQGR
PäYLOSURGXFHLQWHUIHUHQFLDVRVL HVSHFÞILFRVGHOWHOÚIRQRVRQORVVLಢ
 $GYHUWHQFLD SXHGHQSUHVHQWDUVHVLWXDFLRQHV JXLHQWHV
SHOLJURVDV %RWäQ\?#DEUHHOPHQëSULQFLSDOGHO
/RVWHOÚIRQRVPäYLOHVHMHUFHQ WHOÚIRQR
HIHFWRVHQVXHQWRUQR3RUHVWH %OXHWRRWK 0DQGRVHQHOYRODQWH
PRWLYRVHKDQHVWDEOHFLGRQRUPDV (OVLVWHPDGHOWHOÚIRQRHVFRPSDWLEOH
\GLVSRVLFLRQHVGHVHJXULGDG TZDFHSWDUXQDOODPDGDDFWLYDUHO
FRQ%OXHWRRWK+DQGVIUHH3URILOH
'HEHIDPLOLDUL]DUVHFRQGLFKDVGLಢ 9\FXPSOHODHVSHFLILFDFLäQGHO UHFRQRFLPLHQWRGHYR]
UHFWULFHVDQWHVGHXVDUODIXQFLäQ %OXHWRRWK6SHFLDO,QWHUHVW*URXS Q[WHUPLQDUUHFKD]DUXQDOODಢ
GHWHOHIRQÞD 6,*  PDGDGHVDFWLYDUHOUHFRQRFLPLHQWR
(QFRQWUDUÒPÒVLQIRUPDFLäQVREUHOD GHYR]
 $GYHUWHQFLD HVSHFLILFDFLäQHQ,QWHUQHWHQ 2SFLRQDOPHQWHSXHGHPDQHMDUVHHO
KWWSZZZEOXHWRRWKFRP VLVWHPDGHOWHOÚIRQRPHGLDQWHUHFRಢ
(OXVRGHXQGLVSRVLWLYRGHPDQRV QRFLPLHQWRGHYR] 
OLEUHVPLHQWUDVFRQGXFHSXHGHVHU 8VRGHOUHFRQRFLPLHQWRGHYR]
SHOLJURVRSRUTXHVXFRQFHQWUDಢ 1RXWLOLFHHOUHFRQRFLPLHQWRGHYR]HQ &RQH[LäQ
FLäQGLVPLQX\HFXDQGRKDEODSRU FDVRGHHPHUJHQFLD\DTXHHQVLWXDಢ
WHOÚIRQR(VWDFLRQHHOYHKÞFXORDQಢ FLRQHVGHHVWUÚVVXYR]SXHGHFDPಢ (OVLVWHPDGHOWHOÚIRQRVHFRQHFWD\
WHVGHXVDUHOGLVSRVLWLYRGHPDಢ ELDUPXFKR\QRVHUUHFRQRFLGDFRಢ GHVFRQHFWDDXWRPÒWLFDPHQWHFRQHO
QRVOLEUHV2EVHUYHODVGLVSRVLFLRಢ UUHFWDPHQWHSDUDHVWDEOHFHUODFRQHಢ HQFHQGLGR&XDQGRHOHQFHQGLGR
QHVOHJDOHVYLJHQWHVHQHOSDÞV [LäQGHVHDGDFRQODVXILFLHQWHUDSLಢ HVWÒGHVFRQHFWDGRSXHGHFRQHFWDU\
GRQGHVHHQFXHQWUH GH] GHVFRQHFWDUHOVLVWHPDGHOWHOÚIRQR
PHGLDQWHHOVLVWHPDGHLQIRHQWUHWHQLಢ
1RROYLGHFXPSOLUODVQRUPDVHVಢ PLHQWR
SHFLDOHVDSOLFDEOHVHQGHWHUPLQDಢ
GDVÒUHDV\DSDJXHVLHPSUHHOWHಢ
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

6HSXHGHHVWDEOHFHUXQDFRQH[LäQ 3DUDSRGHUHVWDEOHFHUXQDFRQH[LäQ $FWLYDUODIXQFLäQ%OXHWRRWK


HQWUHHOWHOÚIRQRPäYLO\HOVLVWHPDGHO %OXHWRRWKFRQHOVLVWHPDGHOWHOÚIRQR 6LODIXQFLäQ%OXHWRRWKGHOVLVWHPDGHO
WHOÚIRQRYÞD%OXHWRRWK3DUDHOORVX GHEHHVWDUDFWLYDGDODIXQFLäQ%OXHಢ WHOÚIRQRHVWÒGHVDFWLYDGDDMXVWH
WHOÚIRQRPäYLOGHEHVHUFRPSDWLEOH WRRWKGHOWHOÚIRQRPäYLO\ÚVWHGHEH $FWLYDFLäQD$FWLY\FRQILUPHHOPHQಢ
FRQ%OXHWRRWK HVWDUFRQILJXUDGRFRPRYLVLEOHGHಢ VDMHSRVWHULRU
3DUDSRGHUHVWDEOHFHUXQDFRQH[LäQ WHFWDEOH3DUDPÒVLQIRUPDFLäQFRQಢ
%OXHWRRWKHOVLVWHPDGHOWHOÚIRQR VXOWHODVLQVWUXFFLRQHVGHXVRGHOWHಢ /LVWDGHGLVSRVLWLYRV
GHEHHVWDUFRQHFWDGR\ODIXQFLäQ OÚIRQRPäYLO /DSULPHUDYH]TXHVHFRQHFWDXQWHಢ
%OXHWRRWKGHEHHVWDUDFWLYDGD OÚIRQRPäYLODOVLVWHPDGHOWHOÚIRQR
0HQë%OXHWRRWK PHGLDQWH%OXHWRRWKVHJXDUGDHOWHಢ
3DUDPÒVLQIRUPDFLäQVREUHODIXQಢ OÚIRQRPäYLOHQODOLVWDGHGLVSRVLWLಢ
FLäQ%OXHWRRWKGHVXWHOÚIRQRPäYLO YRV
FRQVXOWHODVLQVWUXFFLRQHVGHXVRGHO
PLVPR

&RQH[LäQ%OXHWRRWK
%OXHWRRWKHVXQHVWÒQGDUGHUDGLRFRಢ
PXQLFDFLäQSDUDODFRQH[LäQLQDOÒPಢ
EULFDSRUHMHPSORGHXQWHOÚIRQRFRQ
RWURVGLVSRVLWLYRV3HUPLWHWUDQVPLWLU
LQIRUPDFLäQFRPRXQDDJHQGDWHOHಢ
IäQLFDODVOLVWDVGHOODPDGDVHOQRPಢ
EUHGHORSHUDGRUGHUHG\ODSRWHQFLD
GHFDPSR/DIXQFLRQDOLGDGSXHGH 3XOVHHOERWäQ&21),*
HVWDUOLPLWDGDGHSHQGLHQGRGHOWLSR 6HOHFFLRQH$MXVWHVGHOWHOÚIRQR\
GHWHOÚIRQR OXHJR%OXHWRRWK 6HSXHGHQDOPDFHQDUXQPÒ[LPRGH
WHOÚIRQRVPäYLOHVHQODOLVWDGHGLVಢ
SRVLWLYRV
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

&RQHFWDUXQWHOÚIRQRPäYLOSRU (QFXDQWRHOWHOÚIRQRPäYLOKD\DGHಢ
SULPHUDYH] WHFWDGRHOVLVWHPDGHOWHOÚIRQRVHSRಢ
&XDQGRVHDâDGHHOWHOÚIRQRPäYLO GUÒLQWURGXFLUHOFäGLJR%OXHWRRWKHQ
FRPRXQGLVSRVLWLYRGHPDQRVOLEUHV HOWHOÚIRQRPäYLO
HOXVXDULRSXHGHHIHFWXDURUHFLELUOODಢ
PDGDV\XVDURWUDVIXQFLRQHVDWUDYÚV
GHOVLVWHPDGHOWHOÚIRQR/DJDPDGH
IXQFLRQHVGLVSRQLEOHVGHSHQGHGHO
WHOÚIRQRPäYLO0LHQWUDVHVWÒFRQHFಢ
WDGRDOVLVWHPDGHOWHOÚIRQRHOWHOÚಢ
IRQRPäYLOWDPELÚQVHSXHGHPDQHMDU
FRPRVLHPSUH7HQJDHQFXHQWDTXH
ODEDWHUÞDGHOWHOÚIRQRPäYLOVHSXHGH 6HOHFFLRQH$âDGLUGLVSRVLWLYR PDQRV
GHVFDUJDUFRQPD\RUUDSLGH]GHOR OLEUHV 6HPXHVWUDHOFäGLJR
KDELWXDOGHELGRDODDFWLYDFLäQGHOD %OXHWRRWKTXHGHEHLQWURGXFLUVHHQHO
FRQH[LäQ%OXHWRRWKMXQWRFRQHOIXQಢ WHOÚIRQRPäYLO
FLRQDPLHQWRQRUPDOGHOWHOÚIRQR
1RWD (QFXDQWRHOVLVWHPDGHOWHOÚIRQR
6RODPHQWHVHSRGUÒQHPSDUHMDUXQ KD\DGHWHFWDGRHOWHOÚIRQRPäYLOVH
PÒ[LPRGHGLVSRVLWLYRVDODYH]DO SRGUÒFRQILUPDUHOHVWDEOHFLPLHQWRGH
VLVWHPD6LIXHUDDHPSDUHMDUXQGLVಢ ODFRQH[LäQ
SRVLWLYRDGLFLRQDOGHEHUÒHOLPLQDU (OWHOÚIRQRPäYLOVHLQFOX\HHQODOLVWD
SULPHURXQGLVSRVLWLYRDFWXDO GHGLVSRVLWLYRV\VHSXHGHPDQHMDUD
(OVLVWHPDGHOWHOÚIRQRSXHGHDKRUD WUDYÚVGHOVLVWHPDGHOWHOÚIRQR
VHUGHWHFWDGRSRURWURVGLVSRVLWLYRV
%OXHWRRWK
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

&DPELDUHOFäGLJR%OXHWRRWK &RQHFWDUXQWHOÚIRQRPäYLOJXDUGDGR 1RWD


/DSULPHUDYH]TXHVHHVWDEOHFHXQD HQODOLVWDGHGLVSRVLWLYRV 6LHOGLVSRVLWLYRQRVHSXHGHFRQHFಢ
FRQH[LäQ%OXHWRRWKFRQHOVLVWHPDGHO WDUFRPSUXÚEHORSDUDDVHJXUDUTXH
WHOÚIRQRDSDUHFHXQFäGLJRSUHGHಢ HQHOGLVSRVLWLYRDSDUHFHHOVLVWHPD
WHUPLQDGR(VWHFäGLJRSUHGHWHUPLಢ GHOWHOÚIRQRGHOYHKÞFXOR6LQROR
QDGRVHSXHGHFDPELDUHQFXDOTXLHU KDFHERUUHHOGLVSRVLWLYRGHODOLVWD
PRPHQWR3RUPRWLYRVGHVHJXULGDG GHGLVSRVLWLYRV\YXHOYDDFRQHFWDUOR
GHEHXWLOL]DUXQFäGLJRGHFXDWURGÞಢ FRPRXQGLVSRVLWLYRQXHYR
JLWRVVHOHFFLRQDGRDOHDWRULDPHQWH (OLPLQDUXQWHOÚIRQRPäYLOGHODOLVWD
GHGLVSRVLWLYRV
6HOHFFLRQHHOWHOÚIRQRPäYLOGHVHDGR
GHODOLVWDGHGLVSRVLWLYRV(QHOPHQë
PRVWUDGRVHOHFFLRQH%RUUDU\FRQಢ
ILUPHHOPHQVDMHSRVWHULRU
6HOHFFLRQHHOWHOÚIRQRPäYLOGHVHDGR $MXVWDUHOWRQRGHOODPDGD
\DFRQWLQXDFLäQVHOHFFLRQHODRSಢ 3DUDFDPELDUODFDUDFWHUÞVWLFDGHO
FLäQ6HOHFFLRQDUHQHOPHQëPRVಢ WRQRGHOODPDGD
WUDGR
3XOVHHOERWäQ&21),*
(QFXDQWRHOVLVWHPDGHOWHOÚIRQR
6HOHFFLRQH$MXVWHVGHOWHOÚIRQR\
KD\DGHWHFWDGRHOWHOÚIRQRPäYLOVH
OXHJR6HâDOGHOODPDGD
SRGUÒFRQILUPDUHOHVWDEOHFLPLHQWRGH
6HOHFFLRQH&DPELDUFäGLJRGH ODFRQH[LäQ 6HOHFFLRQHODRSFLäQGHVHDGD
%OXHWRRWK(QHOPHQëPRVWUDGR 3DUDFDPELDUHOYROXPHQGHOWRQRGH
(OWHOÚIRQRPäYLOVHSXHGHPDQHMDUD
HGLWHHOFäGLJR%OXHWRRWKDFWXDO\FRQಢ OODPDGD
WUDYÚVGHOVLVWHPDGHOWHOÚIRQR
ILUPHHOFäGLJRPRGLILFDGRFRQ
$FHSWDU
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

0LHQWUDVVXHQDHOWHOÚIRQRJLUHHOERಢ 1RWD $MXVWDUHOYROXPHQGHO


WäQPGHOVLVWHPDGHLQIRHQWUHWHQLಢ (QHOPRGRGHPDQRVOLEUHVVH GLVSRVLWLYRGHPDQRVOLEUHV
PLHQWRRSXOVHORVERWRQHVHQHO SXHGHVHJXLUXVDQGRHOWHOÚIRQRPäಢ *LUHHOERWäQPGHOVLVWHPDGH
YRODQWH YLOSHMDFHSWDUXQDOODPDGDR
LQIRHQWUHWHQLPLHQWRRSXOVHORVERWRಢ
DMXVWDUHOYROXPHQ
5HVWDEOHFHUORVDMXVWHVGHIÒEULFDGHO QHVHQHOYRODQWH
WHOÚIRQRPäYLO 'HVSXÚVGHHVWDEOHFHUXQDFRQH[LäQ
HQWUHHOWHOÚIRQRPäYLO\HOVLVWHPDGH 0DUFDUXQQëPHURGHWHOÚIRQR
6HOHFFLRQH$MXVWHVGHOWHOÚIRQR\
LQIRHQWUHWHQLPLHQWRVHWUDQVPLWHQORV
OXHJR5HVWDXUDUDMXVWHVGHIÒEULFD
GDWRVGHOWHOÚIRQRPäYLODOVLVWHPDGH
LQIRHQWUHWHQLPLHQWR(VWRSXHGHWDUಢ
0DQHMR GDUXQSRFRGHSHQGLHQGRGHOPRGHOR
GHWHOÚIRQR'XUDQWHGLFKRSHULRGRGH
,QWURGXFFLäQ WLHPSRHOPDQHMRGHOWHOÚIRQRPäYLO
(QFXDQWRVHKD\DHVWDEOHFLGRXQD DWUDYÚVGHOVLVWHPDGHLQIRHQWUHWHQLಢ
FRQH[LäQ%OXHWRRWKHQWUHVXWHOÚIRQR PLHQWRHVSRVLEOHDXQTXHGHIRUPD
PäYLO\HOVLVWHPDGHLQIRHQWUHWHQLಢ OLPLWDGD
PLHQWRSXHGHWDPELÚQPDQHMDUPXಢ 1RWRGRVORVWHOÚIRQRVVRQFRPSDWLಢ
FKDVIXQFLRQHVGHVXWHOÚIRQRPäYLOD EOHVFRQWRGDVODVIXQFLRQHVGHOVLVಢ
WUDYÚVGHOVLVWHPDGHLQIRHQWUHWHQLಢ WHPDGHOWHOÚIRQR3RUHVRSXHGHKDಢ
PLHQWR EHUGLIHUHQFLDVUHVSHFWRDODJDPDGH
$WUDYÚVGHOVLVWHPDGHLQIRHQWUHWHQLಢ IXQFLRQHVGHVFULWDVFRQHVWRVWHOÚIRಢ &RQHOPHQëSULQFLSDOGHOWHOÚIRQRDFಢ
PLHQWRSXHGHSRUHMHPSORHVWDEOHಢ QRVHVSHFÞILFRV3DUDPÒVLQIRUPDಢ WLYRSXOVHHOERWäQ0(18SDUDDEULU
FHUXQDFRQH[LäQFRQORVQëPHURVGH FLäQFRQVXOWHODVLQVWUXFFLRQHVGHO HOPHQëGHPDQHMRGHOWHOÚIRQR
WHOÚIRQRJXDUGDGRVHQVXWHOÚIRQR DGDSWDGRUHVSHFÞILFRGHOWHOÚIRQR +D\YDULDVRSFLRQHVSDUDPDUFDUORV
PäYLORFDPELDUGLFKRVQëPHURV QëPHURVGHWHOÚIRQRSDUDXVDUOD
DJHQGDWHOHIäQLFD\ODVOLVWDVGHOODಢ
PDGDV
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

,QWURGXFLUXQQëPHUR PLVPDWDUMHWD6,0RGHOPLVPRWHOÚಢ FLDUXQDSUHVHOHFFLäQGHODVHQWUDGDV


PDQXDOPHQWH IRQR'XUDQWHHVWHSHULRGRQRVH GHODDJHQGDWHOHIäQLFDTXHTXLHUH
PXHVWUDQODVQXHYDVHQWUDGDVDâDGLಢ YHU
GDV
6LODWDUMHWD6,0RHOWHOÚIRQRVRQGLಢ
IHUHQWHVVHYXHOYHDFDUJDUOD
DJHQGDWHOHIäQLFD(VWDRSHUDFLäQ
SXHGHWDUGDUXQRVPLQXWRVGHSHQಢ
GLHQGRGHOPRGHORGHWHOÚIRQR

6HOHFFLRQDUXQQëPHURGH
WHOÚIRQRGHODDJHQGDWHOHIäQLFD

6HOHFFLRQH,QWURGXFLUQëPHUR\OXHJR
LQWURGX]FDODVHFXHQFLDGHQëPHURV 1RWD
TXHGHVHH /DVHQWUDGDVGHODJXÞDWHOHIäQLFDVH
FDUJDQDPHGLGDTXHVHWUDQVILHUHQ
6HOHFFLRQH\SDUDLQLFLDUHOSURFHVR GHVGHHOWHOÚIRQRPäYLO/DSUHVHQಢ
GHPDUFDGR WDFLäQ\HORUGHQGHODVHQWUDGDVGH
3XHGHFDPELDUDOPHQëGHODDJHQGD ODJXÞDWHOHIäQLFDSXHGHVHUGLVWLQWD
WHOHIäQLFDVHOHFFLRQDQGR] HQODSDQWDOODGHOVLVWHPDGHLQIRHQಢ
WUHWHQLPLHQWR\HQODGHOWHOÚIRQR
$JHQGDWHOHIäQLFD PäYLO
'HVSXÚVGHHVWDEOHFHUODFRQH[LäQ 6HOHFFLRQH*XÞDWHOHIäQLFD(QHO 7UDVUHDOL]DUODSUHVHOHFFLäQVHOHFಢ
ODDJHQGDWHOHIäQLFDVHFRPSDUDFRQ PHQëPRVWUDGRVHOHFFLRQHHOJUXSR FLRQHODHQWUDGDGHVHDGDGHOD
ODDJHQGDWHOHIäQLFDGHODPHPRULD GHOHWUDVLQLFLDOHVGHVHDGRSDUDLQLಢ DJHQGDWHOHIäQLFDSDUDYHUORVQëPHಢ
WHPSRUDOVLHPSUHTXHVHWUDWHGHOD URVJXDUGDGRVHQGLFKDHQWUDGD
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR

6HOHFFLRQHHOQëPHURGHVHDGRSDUD /ODPDGDHQWUDQWH ࿢ 8QLUOODPDGDVFRPELQDUGRVOODPDಢ


LQLFLDUHOSURFHVRGHPDUFDGR &XDQGRKD\XQDOODPDGDHQWUDQWH GDVFXDQGRKD\YDULDVOODPDGDV
DSDUHFHXQPHQëTXHOHSHUPLWH DFWLYDV
/LVWDVGHOODPDGDV DFHSWDURUHFKD]DUODOODPDGDWHOHIäಢ ࿢ &RQPXWDUOODPDGDVFDPELDUHQWUH
QLFD OODPDGDVVLKD\YDULDVOODPDGDV
6HOHFFLRQHODRSFLäQGHVHDGD ࿢ 6LOHQFLDUOODPDGDVLOHQFLDUXQDOODಢ
PDGD
)XQFLRQHVGXUDQWHXQDOODPDGD
WHOHIäQLFD 7HOÚIRQRVPäYLOHV\
6LWLHQHDFWXDOPHQWHXQDOODPDGDWHಢ
OHIäQLFDSXOVHHOERWäQ0(18SDUD UDGLRWUDQVPLVRUHV
DEULUXQVXEPHQë
,QVWUXFFLRQHVGHPRQWDMH\
+D\GLYHUVDVRSFLRQHVGLVSRQLEOHV
GHSHQGLHQGRGHODVLWXDFLäQ\GHOD QRUPDVGHXVR
JDPDGHIXQFLRQHVGHOWHOÚIRQRPäYLO 3DUDODLQVWDODFLäQ\XVRGHXQWHOÚಢ
IRQRPäYLOVHWLHQHQTXHFXPSOLUODV
࿢ &ROJDUFRUWDUODFRQH[LäQWHOHIäಢ LQVWUXFFLRQHVGHPRQWDMHHVSHFÞILFDV
0HGLDQWHHOPHQë/LVWDVGH QLFD
OODPDGDVHOXVXDULRSXHGHYHUODVOODಢ GHOYHKÞFXOR\ODVQRUPDVGHXVRGHO
࿢ /ODPDUDQëPHURLQWURGXFLUXQQëಢ IDEULFDQWHGHOWHOÚIRQR\GHOPDQRVOLಢ
PDGDVHQWUDQWHVVDOLHQWHV\SHUGLಢ
PHURGHWHOÚIRQRSDUDHIHFWXDUXQD EUHV(QFDVRFRQWUDULRVHSXHGH
GDV\PDUFDUORVQëPHURVFRUUHVಢ
VHJXQGDOODPDGDRUHDOL]DUXQPDUಢ DQXODUHOSHUPLVRGHFLUFXODFLäQGHO
SRQGLHQWHV3DUDLQLFLDUHOSURFHVRGH
FDGRSRUWRQRV '70) SRUHMHPಢ YHKÞFXOR
PDUFDGRVHOHFFLRQHODOLVWDGHOODPDಢ
SORSDUDFRUUHRGHYR]REDQFDWHಢ 'LUHFWLYDHXURSHD&( 
GDVGHVHDGDOXHJRXQDHQWUDGDGHOD
OHIäQLFD
OLVWD\ILQDOPHQWHHOQëPHURGHWHOÚಢ
IRQRGHVHDGR ࿢ 'HVFRQHFWDUOODPDGDGHVFRQHFWDU
DXQSDUWLFLSDQWHHQXQDFRQIHUHQಢ
FLDWHOHIäQLFD
6LVWHPDGHLQIRHQWUHWHQLPLHQWR 

5HFRPHQGDFLRQHVSDUDXQIXQFLRQDಢ 3RUPRWLYRVGHVHJXULGDGOHUHFRಢ
PLHQWRVLQSUREOHPDV PHQGDPRVTXHQRXWLOLFHHOWHOÚIRQR
࿢ $QWHQDH[WHULRUGHELGDPHQWHLQVWDಢ PLHQWUDVFRQGXFH,QFOXVRODXWLOL]Dಢ
ODGDSDUDREWHQHUHOPÒ[LPRDOಢ FLäQGHXQGLVSRVLWLYRGHPDQRVOLEUHV
FDQFHSRVLEOH SXHGHGLVWUDHUOHGHODFRQGXFFLäQ
࿢ 3RWHQFLDGHHPLVLäQPÒ[LPD
GH:
 $GYHUWHQFLD
࿢ 0RQWDMHGHOWHOÚIRQRHQXQOXJDU (OXVRGHUDGLRWUDQVPLVRUHV\WHಢ
DGHFXDGRUHVSHWDQGRODLQIRUPDಢ OÚIRQRVPäYLOHVTXHLQFXPSODQODV
FLäQUHOHYDQWHGHODQRWD  QRUPDVDQWHVPHQFLRQDGDVVäOR
3LGDDVHVRUDPLHQWRVREUHHOOXJDU HVWÒSHUPLWLGRFRQXQDDQWHQDVLಢ
DGHFXDGRSDUDHOPRQWDMHGHODDQಢ WXDGDHQHOH[WHULRUGHOYHKÞFXOR
WHQDH[WHULRURORVVRSRUWHVSDUDORV
DSDUDWRVDVÞFRPRVREUHODVSRVLELಢ
OLGDGHVH[LVWHQWHVSDUDXWLOL]DUDSDUDಢ
$WHQFLäQ
WRVFRQXQDSRWHQFLDGHHPLVLäQVXಢ
/RVWHOÚIRQRVPäYLOHV\UDGLRಢ
SHULRUDORV:
WUDQVPLVRUHVSXHGHQSURYRFDUIDಢ
(OXVRGHXQGLVSRVLWLYRGHPDQRVOLಢ OORVHQHOIXQFLRQDPLHQWRGHORV
EUHVVLQDQWHQDH[WHULRUHQORVVLVWHಢ VLVWHPDVHOHFWUäQLFRVGHOYHKÞFXOR
PDV*60\8076 VLVHXVDQHQHOLQWHULRUGHOYHಢ
VäORHVWÒSHUPLWLGRVLQRVHVXSHUD KÞFXORVLQDQWHQDH[WHULRUVDOYR
XQDSRWHQFLDGHHPLVLäQPÒ[LPDGH TXHVHFXPSODQODVQRUPDVDQWHV
:HQHOFDVRGH*60\GH PHQFLRQDGDV
:HQORVGHPÒV
 &OLPDWL]DFLäQ

&OLPDWL]DFLäQ 6LVWHPDVGH 7HPSHUDWXUD


$MXVWHODWHPSHUDWXUDJLUDQGRHO
FOLPDWL]DFLäQ PDQGR
6LVWHPDGHFDOHIDFFLäQ\ 5RMR FDOLHQWH
6LVWHPDVGHFOLPDWL]DFLäQ   $]XO IUÞR
6DOLGDVGHDLUH   YHQWLODFLäQ
/DFDOHIDFFLäQQRVHUÒWRWDOPHQWH
0DQWHQLPLHQWR  
HIHFWLYDKDVWDTXHHOPRWRUKD\DDOಢ
FDQ]DGRVXWHPSHUDWXUDGHIXQFLRQDಢ
PLHQWR

'LVWULEXFLäQGHDLUH
6HOHFFLRQHODVDOLGDGHDLUHSXOVDQGR
ORVERWRQHV
+ KDFLDODFDEH]D\ORVSLHV
* KDFLDORVSLHV
, KDFLDOD]RQDGHODFDEH]DPHಢ
GLDQWHVDOLGDVGHDLUHUHJXODಢ
EOHV
0DQGRVSDUDOD ) KDFLDHOSDUDEULVDV\OD]RQD
࿢ 7HPSHUDWXUD UHSRVDSLÚV
࿢ 'LVWULEXFLäQGHDLUH (ODMXVWHVHOHFFLRQDGRVHLQGLFDPHಢ
࿢ 9HORFLGDGGHOYHQWLODGRU GLDQWHXQ/('GHOERWäQ
࿢ 'HVHPSDâDGR\GHVFRQJHODFLäQ 9HORFLGDGGHOYHQWLODGRU
࿢ /XQHWDWÚUPLFDWUDVHUD $MXVWHHOFDXGDOGHDLUHFRQHFWDQGR
ODYHORFLGDGGHVHDGDGHOYHQWLODGRU
&OLPDWL]DFLäQ 

'HVHPSDâDGR\ /XQHWDWÚUPLFDWUDVHUD^ 


GHVFRQJHODFLäQ5
,QGLFDFLäQGHORVDMXVWHV
/DVIXQFLRQHVVHOHFFLRQDGDVVHLQGLಢ
FDQPHGLDQWHHO/('GHOERWäQDFWLಢ
YDGR

$LUHDFRQGLFLRQDGR
 3HOLJUR
1RGXHUPDHQXQYHKÞFXORFRQHO
VLVWHPDGHDLUHDFRQGLFLRQDGRR 0DQGRVSDUDOD
GHFDOHIDFFLäQHQFHQGLGR3XHGH ࿢ 7HPSHUDWXUD
VXIULUOHVLRQHVJUDYHVRIDWDOHVGHಢ
࿢ 3XOVHHOERWäQ5HOYHQWLODGRUVH ࿢ 'LVWULEXFLäQGHDLUH
ELGRDXQDFDÞGDGHOQLYHOGHR[Þಢ
FRQHFWDDXWRPÒWLFDPHQWHDXQD JHQR\RODWHPSHUDWXUDFRUSRUDO ࿢ 9HORFLGDGGHOYHQWLODGRU
YHORFLGDGPÒVDOWDODGLVWULEXFLäQ ࿢ 'HVHPSDâDGR\GHVFRQJHODFLäQ
GHDLUHVHRULHQWDKDFLDHOSDUDEULಢ
VDV ࿢ 5HFLUFXODFLäQGHDLUH
࿢ 3RQJDHOPDQGRGHODWHPSHUDWXUD ࿢ 5HIULJHUDFLäQL
HQHOQLYHOPÒVFÒOLGR ࿢ /XQHWDWÚUPLFDWUDVHUD
࿢ &RQHFWHODOXQHWDWÚUPLFDWUDಢ
VHUD^ 7HPSHUDWXUD
$MXVWHODWHPSHUDWXUDJLUDQGRHO
࿢ $EUDODVVDOLGDVGHDLUHVHJëQVHD PDQGR
QHFHVDULR\RULÚQWHODVKDFLDODV
YHQWDQLOODV 5RMR FDOLHQWH
$]XO IUÞR
 &OLPDWL]DFLäQ

/DFDOHIDFFLäQQRVHUÒWRWDOPHQWH 'HVHPSDâDGR\ ࿢ &RQHFWHODOXQHWDWÚUPLFDWUDಢ


HIHFWLYDKDVWDTXHHOPRWRUKD\DDOಢ GHVFRQJHODFLäQGHORV VHUD^
FDQ]DGRVXWHPSHUDWXUDGHIXQFLRQDಢ ࿢ $EUDODVVDOLGDVGHDLUHVHJëQVHD
FULVWDOHV5
PLHQWR QHFHVDULR\RULÚQWHODVKDFLDODV
YHQWDQLOODV
'LVWULEXFLäQGHDLUH
6HOHFFLRQHODVDOLGDGHDLUHSXOVDQGR 1RWD
ORVERWRQHV 6LVHVHOHFFLRQDQODVRSFLRQHVGH
GHVHPSDâDGR\GHVFRQJHODFLäQVH
+ KDFLDODFDEH]D\ORVSLHV LQKLELUÒODSDUDGDDXWRPÒWLFD $XWRಢ
* KDFLDORVSLHV VWRS 
, KDFLDOD]RQDGHODFDEH]DPHಢ
GLDQWHVDOLGDVGHDLUHUHJXODಢ 6LVHVHOHFFLRQDQODVRSFLRQHVGH
EOHV GHVHPSDâDGR\GHVFRQJHODFLäQ
) KDFLDHOSDUDEULVDV\OD]RQD PLHQWUDVHOPRWRUHVWÒHQXQDSDಢ
UHSRVDSLÚV UDGDDXWRPÒWLFD $XWRVWRS VHYROಢ
YHUÒDDUUDQFDUHOPRWRUDXWRPÒWLಢ
(ODMXVWHVHOHFFLRQDGRVHLQGLFDPHಢ FDPHQWH
GLDQWHXQ/('GHOERWäQ ࿢ 3XOVHHOERWäQ5HOYHQWLODGRUVH
FRQHFWDDXWRPÒWLFDPHQWHDXQD /XQHWDWÚUPLFDWUDVHUD^ 
9HORFLGDGGHOYHQWLODGRU YHORFLGDGPÒVDOWDODGLVWULEXFLäQ
GHDLUHVHRULHQWDKDFLDHOSDUDEULಢ 6LVWHPDGHUHFLUFXODFLäQGH
$MXVWHHOFDXGDOGHDLUHFRQHFWDQGR
ODYHORFLGDGGHVHDGDGHOYHQWLODGRU VDV DLUH
࿢ &RQHFWHODUHIULJHUDFLäQL (OPRGRGHUHFLUFXODFLäQGHDLUHVH
DFFLRQDFRQHOERWäQ
࿢ 3RQJDHOPDQGRGHODWHPSHUDWXUD
HQHOQLYHOPÒVFÒOLGR
&OLPDWL]DFLäQ 

6LQRHVQHFHVDULRUHIULJHUDURGHVಢ ࿢ &RQHFWHODUHIULJHUDFLäQL
 $GYHUWHQFLD KXPLGLILFDUHODLUHGHVFRQHFWHODUHಢ ࿢ &RQHFWHHOVLVWHPDGHUHFLUFXODFLäQ
IULJHUDFLäQSDUDDKRUUDUFRPEXVWLEOH GHDLUH
&RQGXFLUFRQHOPRGRGHUHFLUFXಢ &XDQGRHOVLVWHPDGHUHIULJHUDFLäQ
ODFLäQFRQHFWDGRGXUDQWHXQSHಢ VHDSDJDHOVLVWHPDGHFOLPDWL]DFLäQ ࿢ 3XOVHHOLQWHUUXSWRUGHGLVWULEXFLäQ
UÞRGRSURORQJDGRSXHGHSURYRFDU QRVROLFLWDUÒHODUUDQTXHGHOPRWRUGXಢ GHDLUH,
VXHâR&DPELHSHULäGLFDPHQWHDO UDQWHXQDSDUDGDDXWRPÒWLFD $XWRಢ ࿢ 3RQJDHOPDQGRGHODWHPSHUDWXUD
PRGRGHDLUHH[WHULRUSDUDSHUPLWLU VWRS  HQHOQLYHOPÒVIUÞR
ODHQWUDGDGHDLUHIUHVFR
࿢ 3RQJDODYHORFLGDGGHOYHQWLODGRUDO
(QHOPRGRGHUHFLUFXODFLäQVHUHಢ 5HIULJHUDFLäQPÒ[LPD PÒ[LPR
GXFHHOLQWHUFDPELRGHDLUHIUHVFR
(QFDVRGHIXQFLRQDPLHQWRVLQUHಢ ࿢ $EUDWRGDVODVVDOLGDV
IULJHUDFLäQDXPHQWDODKXPHGDG
GHODLUH\VHSXHGHQHPSDâDUORV
,QGLFDFLäQGHORVDMXVWHV
FULVWDOHV/DFDOLGDGGHODLUHGHO /DVIXQFLRQHVVHOHFFLRQDGDVVHLQGLಢ
KDELWÒFXORGLVPLQX\HHVWRSXHGH FDQPHGLDQWHHO/('GHOERWäQDFWLಢ
KDFHUTXHORVRFXSDQWHVVHVLHQಢ YDGR
WDQPDUHDGRV
&OLPDWL]DGRUDXWRPÒWLFR
5HIULJHUDFLäQL HOHFWUäQLFR
6HDFFLRQDFRQHOERWäQL\VäORIXQಢ
FLRQDFRQHOPRWRU\HOYHQWLODGRUHQ  3HOLJUR
PDUFKD
(ODLUHDFRQGLFLRQDGRUHIULJHUD\GHVಢ $EUDEUHYHPHQWHODVYHQWDQLOODVSDUD 1RGXHUPDHQXQYHKÞFXORFRQHO
KXPLGLILFD VHFD HODLUHFXDQGROD TXHHODLUHFDOLHQWHVDOJDUÒSLGDಢ VLVWHPDGHDLUHDFRQGLFLRQDGRR
WHPSHUDWXUDH[WHULRUHVWÒSRUHQFLPD PHQWH GHFDOHIDFFLäQHQFHQGLGR3XHGH
GHOSXQWRGHFRQJHODFLäQ3RUHVRVH
SXHGHFRQGHQVDUDJXDTXHVDOHSRU
GHEDMRGHOYHKÞFXOR
 &OLPDWL]DFLäQ

VXIULUOHVLRQHVJUDYHVRIDWDOHVGHಢ /DVVLJXLHQWHVIXQFLRQHVVHSXHGHQ
ELGRDXQDFDÞGDGHOQLYHOGHR[Þಢ DGDSWDUGHIRUPDPDQXDOGHVDFWLಢ
JHQR\RODWHPSHUDWXUDFRUSRUDO YDQGRHOPRGRDXWRPÒWLFR
)DQ FDXGDOVHOHFFLRQDEOH
VSHHG
02'( GLVWULEXFLäQGHDLUHVHಢ
OHFFLRQDEOH
5 GHVHPSDâDGR\GHVಢ
FRQJHODFLäQ
; HQFHQGHURDSDJDUHO
VLVWHPD
L DFWLYDURGHVDFWLYDUOD
UHIULJHUDFLäQ &DGDFDPELRGHDMXVWHVVHLQGLFDHQ
 UHFLUFXODFLäQGHDLUH ODSDQWDOODGHLQIRUPDFLäQGXUDQWH
$46 VHQVRUGHFDOLGDGGHO XQRVVHJXQGRV
DLUH
/DVIXQFLRQHVDFWLYDGDVVHLQGLFDQ
0DQGRVSDUDHOPRGRDXWRPÒWLFR /XQHWDWÚUPLFDWUDVHUD^  PHGLDQWHHO/('GHOERWäQ
$872 PRGRDXWRPÒWLFR 6HUHJXODDXWRPÒWLFDPHQWHODWHPಢ (OFOLPDWL]DGRUDXWRPÒWLFRHOHFWUäಢ
HOVLVWHPDVHOHFಢ SHUDWXUDSUHVHOHFFLRQDGD(QHO QLFRVäORIXQFLRQDSOHQDPHQWHFRQHO
FLRQDDXWRPÒWLFDಢ PRGRDXWRPÒWLFRODYHORFLGDGGHO PRWRUHQPDUFKD
PHQWHWRGRVORV YHQWLODGRU\ODGLVWULEXFLäQGHDLUHUHಢ (QYHKÞFXORVHTXLSDGRVFRQVLVWHPD
DMXVWHVH[FHSWROD JXODQDXWRPÒWLFDPHQWHHOFDXGDOGH VWRSVWDUWSXOVDUHOERWäQLGHOFOLಢ
WHPSHUDWXUD DLUH PDWL]DGRUSURSRUFLRQDHOVLJXLHQWH
7HPSHUDWXUH SUHVHOHFFLäQGHOD (OVLVWHPDVHSXHGHDGDSWDUPDQXDOಢ HIHFWR
WHPSHUDWXUDGHಢ PHQWHPHGLDQWHHOXVRGHORVPDQGRV ࿢ 6LVHSXOVDXQDYH] HO/('VHLOXಢ
VHDGD GHGLVWULEXFLäQGHDLUH\GHYHORFLGDG PLQDYHUGH HODLUHDFRQGLFLRQDGR
GHOYHQWLODGRU IXQFLRQDHQPRGR(&2
&OLPDWL]DFLäQ 

࿢ 6LVHSXOVDGRVYHFHV HO/('VH $MXVWHEÒVLFRSDUDHOPÒ[LPRFRQIRUW 3UHVHOHFFLäQGHODWHPSHUDWXUD


LOXPLQDDPDULOOR HODLUHDFRQGLFLRಢ ࿢ 3XOVHHOERWäQ$872HODLUHDFRQಢ
QDGRIXQFLRQDHQPRGRFRQIRUW GLFLRQDGRVHDFWLYDDXWRPÒWLFDಢ
FHQWUDGRHQODFRPRGLGDGGHO PHQWH
DFRPSDâDQWHHOWLHPSRGHXQDSDಢ
UDGDDXWRPÒWLFDSXHGHUHGXFLUVH ࿢ $EUDWRGDVODVVDOLGDVGHDLUH
࿢ 6LVHSXOVDWUHVYHFHVHODLUHDFRQಢ ࿢ $MXVWHODWHPSHUDWXUDSUHVHOHFFLRಢ
GLFLRQDGRVHDSDJD QDGDXVDQGRHOFRQPXWDGRUJLUDWRಢ
ULRL]TXLHUGR
'HVSXÚVGHSXOVDUFDGDYH]HOERWäQ
LDSDUHFHXQPHQVDMHHQODSDQWDOOD /DUHJXODFLäQGHODYHORFLGDGGHOYHQಢ
TXHFRQILUPDHODMXVWH WLODGRUHQPRGRDXWRPÒWLFRVHSXHGH
FDPELDUHQHOPHQë$MXVWHV
3DUDXQFRUUHFWRIXQFLRQDPLHQWRQR
WDSHHOVHQVRUGHOWDEOHURGHLQVWUXಢ 3HUVRQDOL]DFLäQGHOYHKÞFXOR 
PHQWRV 7RGDVODVVDOLGDVGHDLUHVHDFFLRQDQ
DXWRPÒWLFDPHQWHHQHOPRGRDXWRಢ $MXVWHODWHPSHUDWXUDDOYDORUGHಢ
VHDGRJLUDQGRHOPDQGR
0RGRDXWRPÒWLFR$872 PÒWLFR3RUHVRODVVDOLGDVGHDLUH
GHEHUÞDQHVWDUVLHPSUHDELHUWDV 5RMR FDOLHQWH
$]XO IUÞR
6LVHDMXVWDODWHPSHUDWXUDPÞQLPDHO
FOLPDWL]DGRUDXWRPÒWLFRIXQFLRQDDOD
PÒ[LPDSRWHQFLDGHUHIULJHUDFLäQ
6LVHDMXVWDODWHPSHUDWXUDPÒ[LPD
HOFOLPDWL]DGRUDXWRPÒWLFRIXQFLRQDD
ODPÒ[LPDSRWHQFLDGHFDOHIDFFLäQ
 &OLPDWL]DFLäQ

1RWD /XQHWDWÚUPLFDWUDVHUD^  3DUDYROYHUDOPRGRDXWRPÒWLFR


6LODWHPSHUDWXUDVHUHGXFH¡&R 3XOVHHOERWäQ$872
PÒVFRQHOPRWRUHQXQDSDUDGDDXಢ $MXVWHVPDQXDOHV
WRPÒWLFD $XWRVWRS VHYROYHUÒD /RVDMXVWHVGHOFOLPDWL]DGRUDXWRPÒಢ 'LVWULEXFLäQGHDLUH02'(
DUUDQFDUHOPRWRUDXWRPÒWLFDPHQWH WLFRVHSXHGHQFDPELDUDFWLYDQGRORV
6LVWHPDVWRSVWDUW  ERWRQHV\FRQPXWDGRUHVJLUDWRULRV
GHOVLJXLHQWHPRGR$OFDPELDUXQ
'HVHPSDâDGR\ DMXVWHVHGHVDFWLYDUÒHOPRGRDXWRಢ
GHVFRQJHODFLäQGHORVFULVWDOHV PÒWLFR
5
9HORFLGDGGHOYHQWLODGRUV
࿢ 3XOVHHOERWäQ5
࿢ /DWHPSHUDWXUD\ODGLVWULEXFLäQGHO
DLUHVHUHJXODQDXWRPÒWLFDPHQWH
HOYHQWLODGRUIXQFLRQDDYHORFLGDG
PÒVDOWD
࿢ 3DUDYROYHUDOPRGRDXWRPÒWLFR
SXOVHHOERWäQ5 3XOVHHOERWäQ02'(XQDYH]RUHಢ
&RQHFWHODOXQHWDWÚUPLFDWUDVHUD^ SHWLGDPHQWHSDUDHIHFWXDUHODMXVWH
GHVHDGRHODMXVWHGHODGLVWULEXFLäQ
1RWD
GHDLUHVHLQGLFDHQODSDQWDOODGHLQಢ
6LVHSXOVDHOERWäQ5FRQHOPRWRU
IRUPDFLäQ
HQPDUFKDVHDQXODUÒODSDUDGDDXಢ
WRPÒWLFD $XWRVWRS KDVWDTXHVH
YXHOYDDSXOVDUHOERWäQ5 *LUHHOFRQPXWDGRUJLUDWRULRGHUHFKR
6LVHSXOVDHOERWäQ5PLHQWUDVHO /DYHORFLGDGGHOYHQWLODGRUVHOHFFLRಢ
PRWRUHVWÒHQXQDSDUDGDDXWRPÒಢ QDGDVHLQGLFDPHGLDQWHHOQëPHUR
WLFD $XWRVWRS VHYROYHUÒDDUUDQಢ HQODSDQWDOOD
FDUHOPRWRUDXWRPÒWLFDPHQWH
&OLPDWL]DFLäQ 

5+ KDFLDHOSDUDEULVDVOD]RQD &XDQGRHOVLVWHPDGHUHIULJHUDFLäQ GHODLUH\VHSXHGHQHPSDâDUORV


GHODFDEH]D\OD]RQDUHಢ VHDSDJDHOVLVWHPDGHFOLPDWL]DFLäQ FULVWDOHV/DFDOLGDGGHODLUHGHO
SRVDSLÚV QRVROLFLWDUÒHODUUDQTXHGHOPRWRUGXಢ KDELWÒFXORGLVPLQX\HHVWRSXHGH
5* KDFLDHOSDUDEULVDV\OD UDQWHXQDSDUDGDDXWRPÒWLFD $XWRಢ KDFHUTXHORVRFXSDQWHVVHVLHQಢ
]RQDUHSRVDSLÚV VWRS  WDQPDUHDGRV
* KDFLDORVSLHV
, KDFLDOD]RQDGHODFDEH]D 5HFLUFXODFLäQGHDLUH
6HQVRUGHFDOLGDGGHODLUH
PHGLDQWHVDOLGDVGHDLUHUHಢ DXWRPÒWLFD
JXODEOHV (OVLVWHPDGHUHFLUFXODFLäQGHDLUH
$46
+ KDFLDOD]RQDGHODFDEH]D DXWRPÒWLFDWLHQHXQVHQVRUGHKXPHಢ (OVHQVRUGHFDOLGDGGHODLUHGHWHFWD
PHGLDQWHVDOLGDVGHDLUHUHಢ GDGGHODLUHTXHFDPELDDXWRPÒWLFDಢ ODPDODFDOLGDGGHODLUHFLUFXQGDQWH\
JXODEOHV\OD]RQDUHSRVDಢ PHQWHDDLUHH[WHULRUVLODKXPHGDG FDPELDDXWRPÒWLFDPHQWHDDLUHLQWHಢ
SLÚV GHODLUHLQWHULRUHVGHPDVLDGRDOWD ULRU

9XHOWDDODGLVWULEXFLäQGHDLUHDXWRಢ (QFHQGHURDSDJDUHOVLVWHPD;
PÒWLFD'HVDFWLYHHODMXVWHFRUUHVಢ
0RGRPDQXDOGHUHFLUFXODFLäQ
GHDLUH 3XOVDQGRHOERWäQ;VHDFWLYDQRGHVಢ
SRQGLHQWHRSXOVHHOERWäQ$872 DFWLYDQWRGDVODVIXQFLRQHVGHFDOHಢ
(OPRGRPDQXDOGHUHFLUFXODFLäQGH
DLUHVHDFFLRQDFRQHOERWäQ IDFFLäQYHQWLODFLäQ\VLVWHPDGHUHಢ
5HIULJHUDFLäQL IULJHUDFLäQ
6HDFWLYDRGHVDFWLYDFRQHOERWäQL &XDQGRHVWÒDFWLYDGRODHQWUDGDGH
DLUHH[WHULRUVHEORTXHD\HODLUHLQWHಢ
(ODLUHDFRQGLFLRQDGRUHIULJHUD\GHVಢ ULRUHVWÒHQPRGRGHUHFLUFXODFLäQ
$MXVWHVEÒVLFRV
KXPLGLILFD VHFD HODLUHFXDQGROD $OJXQRVDMXVWHVSXHGHQFDPELDUVH
WHPSHUDWXUDH[WHULRUVXSHUDXQQLYHO HQHOPHQë$MXVWHVGHODSDQWDOODGH
GHWHUPLQDGR3RUHVRVHSXHGHFRQಢ
 $GYHUWHQFLD LQIRUPDFLäQ3HUVRQDOL]DFLäQGHOYHಢ
GHQVDUDJXDTXHVDOHSRUGHEDMRGHO KÞFXOR 
(QHOPRGRGHUHFLUFXODFLäQVHUHಢ
YHKÞFXOR
GXFHHOLQWHUFDPELRGHDLUHIUHVFR
6LQRHVQHFHVDULRUHIULJHUDURGHVಢ (QFDVRGHIXQFLRQDPLHQWRVLQUHಢ
KXPLGLILFDUHODLUHGHVFRQHFWHODUHಢ IULJHUDFLäQDXPHQWDODKXPHGDG
IULJHUDFLäQSDUDDKRUUDUFRPEXVWLEOH
 &OLPDWL]DFLäQ

&DOHIDFWRUDX[LOLDU 6DOLGDVGHDLUH
&DOHIDFWRUGHDLUH VäORYHKÞFXOR 6DOLGDVGHDLUHUHJXODEOHV
GLÚVHO &RQODUHIULJHUDFLäQFRQHFWDGDVH
(OVLVWHPD4XLFNKHDWHVXQFDOHIDFWRU GHEHGHMDUDELHUWDDOPHQRVXQDGH
HOÚFWULFRDX[LOLDUTXHFDOLHQWDHODLUH ODVVDOLGDVGHDLUHSDUDHYLWDUTXHVH
GHOKDELWÒFXORPÒVUÒSLGDPHQWH FRQJHOHHOHYDSRUDGRUGHELGRDOD
IDOWDGHPRYLPLHQWRGHODLUH

'LULMDHOIOXMRGHDLUHLQFOLQDQGR\EDVಢ
FXODQGRODVDOHWDV

3DUDDEULUODVDOLGDJLUHODUXHGDGH
DMXVWHD7
&OLPDWL]DFLäQ 

3DUDFHUUDUODVDOLGDJLUHODUXHGDGH 0DQWHQLPLHQWR )LOWURGHSROHQ


DMXVWHD
(QWUDGDGHDLUH )LOWURGHSROHQFRQWURODGR
6DOLGDVGHDLUHILMDV PDQXDOPHQWH
+D\VDOLGDVGHDLUHDGLFLRQDOHVSRU (OILOWURHOLPLQDSROYRKROOÞQSROHQ
GHEDMRGHOSDUDEULVDVGHODVYHQWDಢ HVSRUDV\RORUHV ILOWURFRPELQDGR
QLOODV\HQODV]RQDVGHORVSLHV GHODLUHTXHHQWUDHQHOYHKÞFXORDWUDಢ
YÚVGHODHQWUDGDGHDLUH

)XQFLRQDPLHQWRUHJXODU
GHODLUHDFRQGLFLRQDGR
3DUDJDUDQWL]DUXQIXQFLRQDPLHQWR
HILFLHQWH\GXUDGHURGHOVLVWHPDOD
UHIULJHUDFLäQGHEHDFWLYDUVHGXUDQWH
XQRVPLQXWRVXQDYH]DOPHVLQGHಢ
/DHQWUDGDGHDLUHHQHOFRPSDUWLಢ SHQGLHQWHPHQWHGHODVLWXDFLäQFOLಢ
PHQWRGHOPRWRUGHODQWHGHOSDUDEULಢ PDWROäJLFD\GHODÚSRFDGHODâR/D
VDVGHEHHVWDUOLEUHSDUDSHUPLWLUOD UHIULJHUDFLäQQRIXQFLRQDDWHPSHUDಢ
HQWUDGDGHDLUH5HWLUHFXDOTXLHUUHVWR WXUDVH[WHULRUHVEDMDV
GHKRMDVVXFLHGDGRQLHYH
6HUYLFLR
3DUDJDUDQWL]DUXQDSRWHQFLDGHUHIULಢ
JHUDFLäQäSWLPDOHUHFRPHQGDPRV
UHYLVDUDQXDOPHQWHHOFOLPDWL]DGRU
DXWRPÒWLFRODSULPHUDUHYLVLäQGHEH
UHDOL]DUVHDORVWUHVDâRVGHODSULಢ
PHUDPDWULFXODFLäQ
 &OLPDWL]DFLäQ

࿢ 3UXHEDGHIXQFLRQDPLHQWR\SUHಢ
VLäQ
࿢ )XQFLRQDPLHQWRGHODFDOHIDFFLäQ
࿢ 3UXHEDGHHVWDQTXHLGDG
࿢ &RPSUREDFLäQGHODVFRUUHDVGH
WUDQVPLVLäQ
࿢ /LPSLH]DGHOFRQGHQVDGRU\GHO
GHVDJíHGHOHYDSRUDGRU
࿢ 3UXHEDGHUHQGLPLHQWR
1RWD
8WLOLFHVäORJDVUHIULJHUDQWHKRPRORಢ
JDGR

 $GYHUWHQFLD
/RVFOLPDWL]DGRUHVGHEHQVHUUHಢ
SDUDGRVëQLFDPHQWHSRUSHUVRQDO
FXDOLILFDGR/RVPÚWRGRVGHUHSDಢ
UDFLäQLQFRUUHFWRVSXHGHQRFDVLRಢ
QDUOHVLRQHVSHUVRQDOHV
&RQGXFFLäQ\PDQHMR 

&RQGXFFLäQ\PDQHMR 5HFRPHQGDFLRQHVSDUD &RQGXFFLäQGHXQYHKÞFXORFRQ


ODFRQGXFFLäQ PRWRUGLÚVHO
/RVFRPSRQHQWHVGHOWXUERFRPSUHಢ
VRUJLUDQPX\UÒSLGDPHQWH6LVHLQಢ
5HFRPHQGDFLRQHVSDUDODFRQಢ &RQWUROGHOYHKÞFXOR WHUUXPSHODDOLPHQWDFLäQGHDFHLWHD
GXFFLäQ   ODVSLH]DVPäYLOHVVHSXHGHQSURGXಢ
1RGHMHTXHHOYHKÞFXORFLUFXOH FLUJUDYHVGDâRVHQHOVLVWHPDGHOWXUಢ
$UUDQTXH\PDQHMR  
FRQHOPRWRUSDUDGR H[FHSWR ERFRPSUHVRU6HGHEHQREVHUYDUODV
6LVWHPDGHHVFDSHGHOPRWRU  
GXUDQWHXQDSDUDGDDXWRPÒWLFD VLJXLHQWHVSUHFDXFLRQHVSDUDDVHJXಢ
&DPELRDXWRPÒWLFR   (QGLFKDVLWXDFLäQPXFKRVVLVWHPDV UDUODPÒ[LPDYLGDëWLOGHOWXUERFRPಢ
&DPELRPDQXDO   QRIXQFLRQDQ FRPRHOVHUYRIUHQRROD SUHVRU
)UHQRV   GLUHFFLäQDVLVWLGD &RQGXFLUGHHVWH ࿢ 'HVSXÚVGHDUUDQFDUHOPRWRUGÚಢ
PRGRVXSRQHXQSHOLJURSDUDXVWHG\ MHORHQPDUFKDDOUDOHQWÞGXUDQWH
6LVWHPDVGHFRQWUROGHODFRQಢ
SDUDORVGHPÒV7RGRVORVVLVWHPDV äPLQXWRV HYLWHDFHOHUDURLQLFLDU
GXFFLäQ  
IXQFLRQDQGXUDQWHXQDSDUDGDDXWRಢ ODPDUFKDFRQHOYHKÞFXOR 
5HJXODGRUGHYHORFLGDG   PÒWLFD $XWRVWRS SHURKDEUÒXQDUHಢ
6LVWHPDVGHGHWHFFLäQGHREMHಢ GXFFLäQFRQWURODGDGHODGLUHFFLäQ ࿢ 1RSDUHHOPRWRULQPHGLDWDPHQWH
WRV   DVLVWLGD\ODYHORFLGDGGHOYHKÞFXOR GHVSXÚVGHFLUFXODUHQFRQGLFLRQHV
GLVPLQX\H GHFDUJDHOHYDGD FRPRFRQGXFLUD
&RPEXVWLEOH   DOWDYHORFLGDGRGHVFHQGHUXQD
6LVWHPDVWRSVWDUW  SHQGLHQWHSURORQJDGD 'HMHHOPRಢ
WRUHQPDUFKDDOUDOHQWÞGXUDQWHä
3HGDOHV PLQXWRVSDUDTXHVHHQIUÞH
3DUDDVHJXUDUXQOLEUHUHFRUULGRGHO
SHGDOQRGHEHKDEHUDOIRPEULOODVHQ ࿢ 'HVSXÚVGHFDPELDUHODFHLWH\ILOಢ
OD]RQDGHORVSHGDOHV WURGHDFHLWHGHOPRWRUDUUDQTXHHO
PRWRU\GÚMHORHQPDUFKDDOUDOHQWÞ
GXUDQWHäPLQXWRV HYLWHDFHOHಢ
UDURLQLFLDUODPDUFKDFRQHOYHಢ
KÞFXOR 
 &RQGXFFLäQ\PDQHMR

࿢ +DJDIXQFLRQDUHOPRWRUSRUHQಢ $UUDQTXH\PDQHMR 3RVLFLRQHVGHODFHUUDGXUD


FLPDGHOUÚJLPHQGHUDOHQWÞVäOR
XQDYH]HVWDEOHFLGDODSUHVLäQQRUಢ GHOHQFHQGLGR
PDOGHODFHLWHGHOPRWRU6LVH
5RGDMHGHXQYHKÞFXOR
IXHU]DHOIXQFLRQDPLHQWRGHOWXUERಢ QXHYR
FRPSUHVRUDQWHVGHTXHORVFRMLQHಢ 2EVHUYHODVVLJXLHQWHVSUHFDXFLRQHV
WHVHVWÚQOXEULFDGRVDGHFXDGDಢ GXUDQWHORVSULPHURVFLHQWRVGHNLOäಢ
PHQWHVHFUHDXQDIULFFLäQLQQHFHಢ PHWURVSDUDPHMRUDUODVSUHVWDFLRಢ
VDULD QHVODHFRQRPÞD\ODGXUDELOLGDGGH
࿢ 8WLOLFHVäORHODFHLWHGHOPRWRUHVಢ VXYHKÞFXOR
SHFLILFDGR\REVHUYHORVLQWHUYDORV ࿢ (YLWHDFHOHUDUDOPÒ[LPRHQORV
GHLQVSHFFLäQ\FDPELR DUUDQTXHV
࿢ 6LODWHPSHUDWXUDDPELHQWHHVEDMD ࿢ 1RUHYROXFLRQHH[FHVLYDPHQWHHO
RHOYHKÞFXORQRVHKDXWLOL]DGRGXಢ PRWRU
UDQWHPXFKRWLHPSRVHDOWHUDHO
IOXMR\ODSUHVLäQQRUPDOGHODFHLWH ࿢ (YLWHODVSDUDGDVEUXVFDVVDOYRHQ
GHOPRWRU(QHVWDVFRQGLFLRQHVVH FDVRVGHHPHUJHQFLD(VWRSHUPLಢ  (QFHQGLGRGHVFRQHFWDGR
GHEHUÞDDUUDQFDUHOPRWRU\GHMDUOR WLUÒTXHORVIUHQRVVHDVLHQWHQDGHಢ  (QFHQGLGRGHVFRQHFWDGRYRಢ
DOUDOHQWÞGXUDQWHYDULRVPLQXWRV FXDGDPHQWH ODQWHGHVEORTXHDGR
DQWHVGHDXPHQWDUHOUÚJLPHQGH ࿢ (YLWHLQLFLDUODPDUFKDUÒSLGDಢ  (QFHQGLGRFRQHFWDGRFRQPRಢ
UHYROXFLRQHV PHQWHODVDFHOHUDFLRQHVEUXVFDV\ WRUGLÚVHOSUHFDOHQWDPLHQWR
ODFRQGXFFLäQSURORQJDGDDDOWDYHಢ  $UUDQTXH
ORFLGDGSDUDHYLWDUGDâRVHQHOPRಢ
WRU\DKRUUDUFRPEXVWLEOH
࿢ (YLWHDFHOHUDUDOPÒ[LPRHQODV
PDUFKDVFRUWDV
࿢ 1RUHPROTXHRWURYHKÞFXOR
&RQGXFFLäQ\PDQHMR 

$UUDQTXHGHOPRWRU ࿢ 0RWRUGLÚVHOJLUHODOODYHDODSRVLಢ
$WHQFLäQ FLäQSDUDHOSUHFDOHQWDPLHQWR
$UUDQTXHGHOPRWRUFRQOD KDVWDTXHHOWHVWLJRGHFRQWURO
1RGHMHODOODYHHQODSRVLFLäQä VHDSDJXH
FRQHOPRWRUSDUDGRGXUDQWHPXಢ FHUUDGXUDGHOHQFHQGLGR
FKRWLHPSR(VWRGHVFDUJDUÒOD ࿢ *LUHODOODYHDODSRVLFLäQ\VXÚOಢ
EDWHUÞD WHODFXDQGRHOPRWRUHVWÚHQPDUಢ
FKD
1RJLUHODOODYHDODSRVLFLäQFRQ
HOYHKÞFXORHQPDUFKD(OFRQGXFಢ $QWHVGHUHSHWLUHODUUDQTXHRSDUD
WRUSRGUÞDSHUGHUHOFRQWUROGHOYHಢ DSDJDUHOPRWRUJLUHGHQXHYRODOODYH
KÞFXORGHMDUÞDGHIXQFLRQDUHOVHUಢ D
YRIUHQR\FDXVDUGDâRVHQHOYHಢ 'XUDQWHXQDSDUDGDDXWRPÒWLFD $Xಢ
KÞFXOROHVLRQHVSHUVRQDOHVRLQಢ WRVWRS VHSXHGHDUUDQFDUHOPRWRU
FOXVRIDWDOHV SLVDQGRHOSHGDOGHOHPEUDJXH

$UUDQTXHGHOPRWRUFRQHOERWäQ
6WDUW6WRS
࿢ *LUHODOODYHDODSRVLFLäQPXHYD  $GYHUWHQFLD
OLJHUDPHQWHHOYRODQWHSDUDGHVDFಢ
WLYDUHOEORTXHR 1RSXOVHHOERWäQ6WDUW6WRSFRQHO
࿢ &DPELRPDQXDOPDQWHQJDSLVDGR YHKÞFXORHQPDUFKD(OFRQGXFWRU
HOSHGDOGHOHPEUDJXH SRGUÞDSHUGHUHOFRQWUROGHOYHಢ
࿢ &DPELRDXWRPÒWLFRPDQWHQJDSLಢ KÞFXORGHMDUÞDGHIXQFLRQDUHOVHUಢ
VDGRHOIUHQR\PXHYDODSDODQFD YRIUHQR\FDXVDUXQDFFLGHQWH
VHOHFWRUDKDFLD3R1 $VLPLVPRQXQFDGHMHEHEÚVQLಢ
âRV\MäYHQHVVRORVHQHOYHKÞFXOR
࿢ 1RDFHOHUH 3XHGHRFXUULUDOJëQDFFLGHQWH
 &RQGXFFLäQ\PDQHMR

$WHQFLäQ
$SDJDGRGHOPRWRU
3XOVHGHQXHYRHOERWäQFRQHOPRWRU
$OSXOVDUHOERWäQ6WDUW6WRSVH HQPDUFKDSDUDDSDJDUHOPRWRU
SXHGHDUUDQFDUHOPRWRUVLODOODYH
HOHFWUäQLFDHVWÒHQHOYHKÞFXOR 0RGRGHDOLPHQWDFLäQGH
1XQFDGHMHVRORVHQHOYHKÞFXORD DFFHVRULRV
QLâRVQLDSHUVRQDVTXHQRHVWÚQ 3XOVHXQDYH]HOERWäQ6WDUW6WRSVLQ
IDPLOLDUL]DGDVFRQHOPLVPR3Rಢ SLVDUHOSHGDOGHOHPEUDJXHRGHO
GUÞDQGDUOXJDUDDFFLGHQWHV'HVಢ IUHQR6LHOPRGRGHDOLPHQWDFLäQGH
FRQHFWHHOHQFHQGLGRFXDQGR DFFHVRULRVHVWÒDFWLYRVHHQFLHQGH
VDOJDGHOYHKÞFXOR\OOHYHVLHPSUH HO/('DPDULOORGHOERWäQ(QHVWH
FRQVLJRODOODYHHOHFWUäQLFD PRGRVHVXHOWDHOEORTXHRGHOYRODQWH
࿢ 3XOVHHOERWäQ6WDUW6WRS\VXÚOWHOR \VHSXHGHQXVDUDOJXQDVIXQFLRQHV
࿢ /DOODYHHOHFWUäQLFDGHEHHVWDUHQ FXDQGRHOPRWRUHVWÚHQPDUFKD(O HOÚFWULFDV
HOLQWHULRUGHOYHKÞFXOR /('YHUGHVHLOXPLQDUÒHQFXDQWR 3DUDDUUDQFDUHOPRWRUGHVGHHOPRGR
࿢ &DPELRPDQXDOPDQWHQJDSLVDGR HOPRWRUHVWÚHQPDUFKD GHDOLPHQWDFLäQGHDFFHVRULRVSLVH
HOSHGDOGHOHPEUDJXH ࿢ (OPRWRUGLÚVHOLQLFLDHOSUHFDOHQWDಢ HOSHGDOGHOHPEUDJXH FDPELRPDಢ
PLHQWRDXWRPÒWLFDPHQWHDWHPSHಢ QXDO RHOSHGDOGHOIUHQR FDPELRDXಢ
࿢ &DPELRDXWRPÒWLFRPDQWHQJDSLಢ
UDWXUDVEDMDVORTXHVHLQGLFD WRPÒWLFR \SXOVHXQDYH]PÒVHOERಢ
VDGRHOSHGDOGHOIUHQR\PXHYDOD
FRQ0DQWHQJDSLVDGRHOSHGDO WäQ6WDUW6WRS
SDODQFDVHOHFWRUDKDFLD3R1 SRU
VHJXULGDGDUUDQTXHHOPRWRUHQ3  GHOIUHQRRGHOHPEUDJXHGXUDQWHHO 1RGHMHHOPRGRGHDFFHVRULRVRHO
SUHFDOHQWDPLHQWR(OWLHPSRGH HQFHQGLGRFRQHFWDGRGXUDQWHXQSHಢ
SUHFDOHQWDPLHQWRVHUÒPÒVODUJR ULRGRSURORQJDGRVLQDUUDQFDUHOPRಢ
FXDQWRPÒVEDMDVHDODWHPSHUDಢ WRU(VWRGHVFDUJDUÒODEDWHUÞD
WXUD
1RWD
࿢ 1RSLVHHOSHGDOGHODFHOHUDGRUGXಢ 1RFRORTXHHOPDQGRDGLVWDQFLDHQ
UDQWHHODUUDQTXH HOPDOHWHURQLPX\FHUFDGHODSDQಢ
WDOODGHLQIRUPDFLäQ ,QIR'LVSOD\ 
&RQGXFFLäQ\PDQHMR 

$FFLRQDPLHQWRGHHPHUJHQFLD $EUDODWDSDHQODSDUWHLQIHULRUGHO OODYH6LODOODYHHOHFWUäQLFDQRIXQಢ


6LODSLODGHOPDQGRDGLVWDQFLDVH SRUWDYDVRVGHODFRQVRODFHQWUDO FLRQDFXDQGRHVWÒHQHOYHKÞFXOR
HVWÒDJRWDQGRRIDOODHOPDQGRDGLVಢ 'HVSOLHJXHHOSDOHWäQGHODOODYHHOHFಢ RXVWHGODOOHYDFRQVLJRSXHGH
WDQFLDGHODUDGLRODSXHUWDGHOFRQಢ WUäQLFDHLQVÚUWHORHQODUDQXUDSDUDOD DUUDQFDUHOPRWRUXVDQGRHODFFLRಢ
GXFWRUVHSXHGHEORTXHDU\GHVEORಢ OODYH QDPLHQWRGHHPHUJHQFLD6LHO
TXHDUFRQODOODYH  3XOVHHOERWäQ6WDUW6WRS PRWRUQRDUUDQFDFXDQGRXVDOD
/DOODYHPHFÒQLFDVäORSXHGHEORಢ 3DUDDSDJDUHOPRWRUSXOVHHOERWäQ OODYHPDQXDOPHQWHUHFXUUDDXQ
TXHDURGHVEORTXHDUODSXHUWDGHO 6WDUW6WRSGXUDQWHDOPHQRV VHUYLFLRGHWDOOHU
FRQGXFWRU'HVEORTXHRGHOYHKÞFXOR VHJXQGRV ࿢ &XDQGRODOODYHHOHFWUäQLFDHVWÒ
FRPSOHWR (QYHKÞFXORVFRQVLVಢ %ORTXHHODSXHUWDGHOFRQGXFWRUFRQ FHUFDGHXQWUDQVPLVRUGHUDಢ
WHPDGHDODUPDDQWLUURERVHSXHGH ODOODYHPHFÒQLFD%ORTXHRGHOYHಢ GLRIUHFXHQFLDFRPRXQDHPLಢ
GLVSDUDUODDODUPDDOGHVEORTXHDUHO KÞFXORFRPSOHWR  VRUDGHUDGLRXQDHURSXHUWR
YHKÞFXOR'HVDFWLYHODDODUPDGHVFRಢ XQDFRPLVDUÞDGHSROLFÞDXQD
QHFWDQGRHOHQFHQGLGR (VWDRSFLäQHVVäORSDUDFDVRVGH
RILFLQDGHOJRELHUQRXQDEDVH
HPHUJHQFLD5HFXUUDDODD\XGDGH
XQDWRUUHGHWUDQVPLVLRQHVRXQ
XQWDOOHU
SXHUWR
$WHQFLäQ ࿢ &XDQGRJXDUGDODOODYHHOHFWUäಢ
QLFDFHUFDGHXQVLVWHPDPäYLO
3XHGHTXHQRIXQFLRQHQODVRSಢ GHUDGLRELGLUHFFLRQDORGHXQ
FLRQHVGHODOODYHHOHFWUäQLFD FRಢ WHOÚIRQRPäYLO
QHFWDUHOHQFHQGLGREORTXHDU ࿢ &XDQGRVHDFFLRQDODOODYHHOHFಢ
GHVEORTXHDUODSXHUWD RTXHFDPಢ WUäQLFDGHRWURYHKÞFXORFHUFD
ELHVXDOFDQFHHIHFWLYRSRUTXHOD GHVXYHKÞFXOR
IUHFXHQFLDVHPH]FOHFRQRWUDV ࿢ &XDQGRODOODYHHOHFWUäQLFDHVWÒ
SUä[LPDVVLRFXUUHDOJRGHORVLಢ GHVFDUJDGD
JXLHQWH(QWDOFDVRDEUD\FLHUUH
ODSXHUWDPDQXDOPHQWHFRQOD
 &RQGXFFLäQ\PDQHMR

(OVLVWHPDGHUDGLRELGLUHFFLRQDO SXHGHLQWHUSUHWDUTXHODOODYHHOHFWUäಢ WUDQVFXUUHQYDULRVVHJXQGRVHQ


LQWHULRUSXHGHSHUWXUEDUHOVLVWHPD QLFDHVWÒHQVXLQWHULRU\SRGUÞDVRQDU PRGR$&&HOPRWRUVHDSDJDUÒ
HOÚFWULFRGHOYHKÞFXOR8WLOLFHXQ ODERFLQD /('DSDJDGR 1RHVSRVLEOHYROYHU
VLVWHPDGHUDGLRELGLUHFFLRQDOH[ಢ DDUUDQFDU
WHULRU6LHPSUHGHEHFXPSOLUODV $WHQFLäQ /DOODYHHOHFWUäQLFDQRIXQFLRQDUÒVL
OH\HV\ORVUHJODPHQWRVGHOSDÞV RFXUUHDOJRGHORVLJXLHQWH
SRUGRQGHFLUFXOH 6LODOODYHHOHFWUäQLFDHVWÒPX\
࿢ &XDQGRHOYHKÞFXORHVWÒHQXQ
FHUFDGHODFDUURFHUÞDGHOYHKÞFXOR
FDPSRHOHFWURPDJQÚWLFRGHDOWD
SXHUWDVSDUDEULVDVOXQHWDWUDಢ
/ODYHHOHFWUäQLFDGHVDFWLYDGD VHUD FXDOTXLHUDHQHOLQWHULRUGHO
IUHFXHQFLD
6LEORTXHDODSXHUWDFRQXQDOODYH YHKÞFXORSXHGHDUUDQFDUHOPRWRU ࿢ &XDQGRVHDFFLRQDXQHTXLSRHOÚFಢ
HOHFWUäQLFDGHVGHIXHUDGHOYHKÞFXOR SXOVDQGRHOERWäQ6WRS6WDUW WULFRTXHXVHODPLVPDIUHFXHQFLD
\KD\RWUDOODYHHOHFWUäQLFDGHQWURGHO 7HQJDFXLGDGR\HYÞWHOR TXHODOODYHHOHFWUäQLFD
PLVPRVHGHVDFWLYDUÒODOODYHTXH
࿢ &XDQGRODSLODGHODOODYHHOHFWUäಢ
KD\GHQWURGHOYHKÞFXOR1RSRGUÒ
DUUDQFDUHOPRWRU/DOODYHHOHFWUäQLFD 9ROYHUDDUUDQFDUVLQOODYH QLFDHVWÒGHVFDUJDGDRGHIHFWXRVD
GHVDFWLYDGDSXHGHUHDFWLYDUVHSXOಢ HOHFWUäQLFD
&XDQGRODOODYHHOHFWUäQLFDQRHVWÒ $UUDQTXHGHOPRWRUGLÚVHOFRQ
VDQGRHOERWäQGHODPLVPD
GHQWURGHOYHKÞFXORPLHQWUDVHOPRWRU WLHPSRIUÞR
$YLVRDFëVWLFRUHFRUGDWRULRGH HVWÒHQPDUFKDHOPRGRGHHQFHQಢ 3DUDDUUDQFDUHOPRWRUGLÚVHOFXDQGR
ODOODYHHOHFWUäQLFD GLGRFDPELDUÒD$&& GLRGRDPDULOOR HVWÒIUÞRVHGHEHSUHFDOHQWDUDQWHV
VLSXOVDHOERWäQ6WDUW6WRSSDUDDSDಢ GHODUUDQTXH\OXHJRGHEHFDOHQWDUVH
$OVDOLUGHOYHKÞFXOR\FHUUDUODSXHUWD
JDUHOPRWRU 7UDVPLQXWRVVLQQLQಢ DQWHVGHLQLFLDUODPDUFKD3HURVL
ODERFLQDVRQDUÒWUHVYHFHVVHJXLGDV
JëQDFFLRQDPLHQWRHOHQFHQGLGRVH YXHOYHDDUUDQFDUSRFRGHVSXÚVR
SDUDLQGLFDUTXHKD\XQDOODYHHOHFಢ
GHVFRQHFWDUÒDXWRPÒWLFDPHQWH FRQWLHPSRFÒOLGRQRHVQHFHVDULRHO
WUäQLFDGHQWURGHOYHKÞFXOR(ODMXVWH
3XHGHYROYHUDDUUDQFDUHOPRWRUSLಢ SUHFDOHQWDPLHQWR
GHHVWDIXQFLäQSXHGHFDPELDUVHHQ
ODSDQWDOODGHLQIRUPDFLäQ6LODOODYH VDQGRHOIUHQR\SXOVDQGRHOERWäQ
HOHFWUäQLFDHVWÒPX\FHUFDGHODV 6WDUW6WRS(VWHSURFHVRVHSXHGHUHಢ
SXHUWDVRYHQWDQLOODVHOYHKÞFXOR SHWLUGHIRUPDFRQWLQXDGD6LSXOVDHO
ERWäQ6WDUW6WRSVLQSLVDUHOIUHQRRVL
&RQGXFFLäQ\PDQHMR 

 3XOVHHOERWäQ6WDUW6WRSPLHQಢ &RUWHGHFRPEXVWLEOHHQ $FWLYDFLäQ


WUDVSLVDHOSHGDOGHOIUHQRRGHO (OVLVWHPDVWRSVWDUWHVWÒGLVSRQLEOH
HPEUDJXH UÚJLPHQGHUHWHQFLäQ FRQHOPRWRUDUUDQFDGRHOYHKÞFXOR
 0DQWHQJDSLVDGRHOSHGDOGHO /DDOLPHQWDFLäQGHFRPEXVWLEOHVH HQPDUFKD\VLHPSUHTXHVHFXPSODQ
IUHQRRGHOHPEUDJXHKDVWDTXHHO FRUWDDXWRPÒWLFDPHQWHGXUDQWHHOUÚಢ ODVFRQGLFLRQHVHVSHFLILFDGDVPÒV
WHVWLJRGHSUHFDOHQWDPLHQWRVH JLPHQGHUHWHQFLäQHVGHFLUFXDQGR DGHODQWHHQHVWDVHFFLäQ
DSDJXH VHFRQGXFHHOYHKÞFXORFRQXQDPDUಢ
FKDHQJUDQDGDSHURVLQSLVDUHODFHಢ 'HVDFWLYDFLäQ
 (OPRWRUDUUDQFDUÒDXWRPÒWLFDಢ
OHUDGRU
PHQWHGHVSXÚVGHDSDJDUVHHO
WHVWLJRGHSUHFDOHQWDPLHQWRVLQ
WHQHUTXHSXOVDUHOERWäQ 6LVWHPDVWRSVWDUW
7DPELÚQVHSXHGHDUUDQFDUHOPRWRU (OVLVWHPDVWRSVWDUWSHUPLWHDKRUUDU
SXOVDQGRGHQXHYRHOERWäQ6WDUW FRPEXVWLEOH\UHGXFLUODVHPLVLRQHV
6WRSPLHQWUDVHOSUHFDOHQWDPLHQWR GHJDVHVGHHVFDSH&XDQGRODVFRQಢ
FRQWLQëD3HURSXHGHTXHHOPRWRUQR GLFLRQHVORSHUPLWHQHOVLVWHPDGHVಢ
DUUDQTXHSRUTXHDëQQRVHKD\D FRQHFWDHOPRWRUHQFXDQWRHOYHಢ
FRPSOHWDGRHOSUHFDOHQWDPLHQWR KÞFXORFLUFXODDEDMDYHORFLGDGRHVWÒ
'HMHTXHHOPRWRUVHFDOLHQWHVLQSLಢ SDUDGRSRUHMHPSORHQXQVHPÒIRUR
VDUHOSHGDOGHODFHOHUDGRUVLHO RHQXQDWDVFR9XHOYHDDUUDQFDUDXಢ
WLHPSRHVPX\IUÞRRVLHOYHKÞFXORQR WRPÒWLFDPHQWHHOPRWRUHQFXDQWRVH
VHKDXVDGRHQYDULRVGÞDV7DQWRVL SLVDHOHPEUDJXH8QVHQVRUGHEDಢ
HOPRWRUHVWÒIUÞRFRPRFDOLHQWHVH 'HVDFWLYHPDQXDOPHQWHHOVLVWHPD
WHUÞDJDUDQWL]DTXHODSDUDGDDXWRPÒಢ
GHEHUÞDDUUDQFDUVLQSLVDUHOSHGDOGHO VWRSVWDUWSXOVDQGRHOERWäQ(&2
WLFD $XWRVWRS VRORVHHIHFWëHVLKD\
DFHOHUDGRU 3DUDLQGLFDUODGHVDFWLYDFLäQVH
VXILFLHQWHFDUJDHQODEDWHUÞDSDUD
DSDJDHO/('GHOERWäQ
YROYHUDDUUDQFDU
 &RQGXFFLäQ\PDQHMR

$XWRVWRS 'XUDQWHXQDSDUDGDDXWRPÒWLFDVH ࿢ ODWHPSHUDWXUDGHOVLVWHPDGHHVಢ


6LHOYHKÞFXORFLUFXODDEDMDYHORFLGDG PDQWHQGUÒODFDOHIDFFLäQ\ODRSHUDಢ FDSHGHOPRWRUQRHVGHPDVLDGR
RHVWÒSDUDGRDFWLYHODIXQFLäQGH WLYLGDGGHORVIUHQRV HOHYDGDSRUHMHPSORWUDVFRQGXFLU
SDUDGDDXWRPÒWLFD $XWRVWRS GHOVLಢ FRQXQDFDUJDGHPRWRUHOHYDGD
JXLHQWHPRGR $WHQFLäQ ࿢ ODWHPSHUDWXUDDPELHQWHQRHVGHಢ
࿢ 3LVHHOSHGDOGHOHPEUDJXH PDVLDGREDMD
/DDVLVWHQFLDDODGLUHFFLäQSXHGH
࿢ SRQJDODSDODQFDHQSXQWRPXHUWR ࿢ HOFOLPDWL]DGRUDXWRPÒWLFRSHUPLWH
UHGXFLUVHGXUDQWHXQDGHWHQFLäQ
XQDSDUDGDDXWRPÒWLFD
࿢ VXHOWHHOSHGDOGHOHPEUDJXH DXWRPÒWLFD
࿢ HOQLYHOGHYDFÞRGHOVLVWHPDGHIUHಢ
(OPRWRUVHSDUDUÒ\HOHQFHQGLGRVH QRVHVVXILFLHQWH
PDQWLHQHFRQHFWDGR &RQGLFLRQHVSDUDXQDSDUDGD
DXWRPÒWLFD $XWRVWRS ࿢ ODIXQFLäQGHDXWROLPSLH]DGHOILOWUR
(OVLVWHPDVWRSVWDUWFRPSUXHEDVLVH GHSDUWÞFXODVGLÚVHOQRHVWÒDFWLYD
FXPSOHQWRGDVODVFRQGLFLRQHVVLಢ ࿢ HOYHKÞFXORVHKDPRYLGRGHVGHOD
JXLHQWHV ëOWLPDSDUDGDDXWRPÒWLFD $XWRಢ
࿢ (OVLVWHPDVWRSVWDUWQRHVWÒGHVಢ VWRS
DFWLYDGRPDQXDOPHQWH HQFDVRFRQWUDULRVHDQXODUÒODSDಢ
࿢ HOFDSäHVWÒWRWDOPHQWHFHUUDGR UDGDDXWRPÒWLFD $XWRVWRS 
࿢ ODSXHUWDGHOFRQGXFWRUHVWÒFHಢ 8QDWHPSHUDWXUDDPELHQWHFHUFDQD
UUDGDRHOFLQWXUäQGHVHJXULGDGGHO DOSXQWRGHFRQJHODFLäQSXHGHLQKLELU
FRQGXFWRUHVWÒDEURFKDGR XQDSDUDGDDXWRPÒWLFD $XWRVWRS 
࿢ ODEDWHUÞDWLHQHVXILFLHQWHFDUJD\ 'HWHUPLQDGRVDMXVWHVGHOFOLPDWL]Dಢ
HVWÒHQEXHQHVWDGR GRUDXWRPÒWLFRSXHGHQDQXODUXQD
/DSDUDGDDXWRPÒWLFD $XWRVWRS VH ࿢ HOPRWRUHVWÒFDOLHQWH SDUDGDDXWRPÒWLFD $XWRVWRS 9ÚDVH
LQGLFDPHGLDQWHODDJXMDHQODSRVLಢ HOFDSÞWXORVREUHFOLPDWL]DFLäQSDUD
࿢ ODWHPSHUDWXUDGHOUHIULJHUDQWHGHO PÒVGHWDOOHV
FLäQ$8726723HQHOFXHQWDUUHYRಢ PRWRUQRHVGHPDVLDGRDOWD
OXFLRQHV
&RQGXFFLäQ\PDQHMR 

3XHGHTXHVHDQXOHODSDUDGDDXWRಢ (ODUUDQTXHGHOPRWRUVHLQGLFDPHಢ ࿢ VHGHVDEURFKDHOFLQWXUäQGHVHJXಢ


PÒWLFD $XWRVWRS MXVWRGHVSXÚVGHOD GLDQWHODDJXMDHQODSRVLFLäQGHUÚಢ ULGDGGHOFRQGXFWRU\VHDEUHOD
FRQGXFFLäQSRUDXWRSLVWD JLPHQGHUDOHQWÞHQHOFXHQWDUUHYROXಢ SXHUWDGHOFRQGXFWRU
5RGDMHGHXQYHKÞFXORQXHYR  FLRQHV ࿢ ODWHPSHUDWXUDGHOPRWRUHVGHPDಢ
6LODSDODQFDVHOHFWRUDVHTXLWDGH VLDGREDMD
3URWHFFLäQFRQWUDGHVFDUJDGHOD SXQWRPXHUWRDQWHVGHSLVDUHOHPಢ ࿢ ODEDWHUÞDHVWÒGHVFDUJDGD
EDWHUÞD EUDJXHHOLQGLFDGRUGHFRQWUROVH
3DUDJDUDQWL]DUTXHHOPRWRUYXHOYDD LOXPLQDUÒRVHPRVWUDUÒFRPRVÞPಢ ࿢ HOQLYHOGHYDFÞRGHOVLVWHPDGHIUHಢ
DUUDQFDUGHIRUPDILDEOHHOVLVWHPD ERORHQHOFHQWURGHLQIRUPDFLäQGHO QRVHVLQVXILFLHQWH
VWRSVWDUWLQFRUSRUDGLYHUVDVIXQFLRಢ FRQGXFWRU ࿢ HOYHKÞFXORHPSLH]DDPRYHUVH
QHVGHSURWHFFLäQFRQWUDODGHVFDUJD 7HVWLJRGHFRQWURO  ࿢ HOFOLPDWL]DGRUDXWRPÒWLFRVROLFLWD
GHODEDWHUÞD HODUUDQTXHGHOPRWRU
0HGLGDGHDKRUURGHHQHUJÞD 5HDUUDQTXHGHOPRWRUSRUHO ࿢ HODLUHDFRQGLFLRQDGRVHHQFLHQGH
'XUDQWHXQDSDUDGDDXWRPÒWLFD $Xಢ VLVWHPDVWRSVWDUW PDQXDOPHQWH
WRVWRS YDULDVIXQFLRQHVHOÚFWULFDV /DSDODQFDVHOHFWRUDWLHQHTXHHVWDU 6LHOFDSäQRHVWÒWRWDOPHQWHFHUUDGR
FRPRHOFDOHIDFWRUDX[LOLDUHOÚFWULFRR HQHOSXQWRPXHUWRSDUDDFWLYDUHOUHDಢ DSDUHFHXQPHQVDMHGHDGYHUWHQFLD
ODOXQHWDWÚUPLFDWUDVHUDVHGHVDFWLಢ UUDQTXHDXWRPÒWLFR HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
YDQRHQWUDQHQPRGRGHDKRUURGH 6LVHGDDOJXQDGHODVFRQGLFLRQHVVLಢ GXFWRU\VHHQFLHQGHHOWHVWLJRGH
HQHUJÞD/DYHORFLGDGGHOYHQWLODGRU JXLHQWHVGXUDQWHXQDSDUDGDDXWRPÒಢ FRQWURO
GHOVLVWHPDGHFOLPDWL]DFLäQVHUHಢ WLFD $XWRVWRS HOVLVWHPDVWRSVWDUW 7HVWLJRGHFRQWURO 
GXFHSDUDDKRUUDUHQHUJÞD YROYHUÒDDUUDQFDUDXWRPÒWLFDPHQWH
6LKD\XQDFFHVRULRHOÚFWULFRSHM
HOPRWRU
5HDUUDQTXHGHOPRWRUSRUHO XQUHSURGXFWRUGH&'SRUWÒWLOFRQHFಢ
࿢ (OVLVWHPDVWRSVWDUWVHGHVDFWLYD WDGRDODWRPDGHFRUULHQWHSXHGH
FRQGXFWRU PDQXDOPHQWH TXHVHQRWHXQDFDÞGDGHODDOLPHQಢ
3LVHHOSHGDOGHOHPEUDJXHSDUDYROಢ WDFLäQGXUDQWHHOUHDUUDQTXH
࿢ VHDEUHHOFDSä
YHUDDUUDQFDUHOPRWRU
 &RQGXFFLäQ\PDQHMR

(VWDFLRQDPLHQWR GHVFRQHFWDUHOHQFHQGLGR*LUHODV 6LVWHPDGHHVFDSHGHO


UXHGDVGHODQWHUDVKDFLDHOERUGLOOR
࿢ 1RHVWDFLRQHHOYHKÞFXORVREUHXQD
࿢ %ORTXHHHOYHKÞFXOR\DFWLYHHOVLVಢ
PRWRU
VXSHUILFLHIÒFLOPHQWHLQIODPDEOH/D
HOHYDGDWHPSHUDWXUDGHOVLVWHPD WHPDGHDODUPDDQWLUURER
GHHVFDSHSRGUÞDLQIODPDUGLFKD  3HOLJUR
VXSHUILFLH
࿢ $FFLRQHVLHPSUHHOIUHQRGHHVWDಢ /RVJDVHVGHHVFDSHFRQWLHQHQ
FLRQDPLHQWRVLQSXOVDUHOERWäQGH PRQä[LGRGHFDUERQRXQJDVLQಢ
GHVEORTXHR(QSHQGLHQWHVDSOÞಢ FRORURHLQRGRURSHURWä[LFR6X
TXHORFRQWRGDODILUPH]DSRVLEOH LQKDODFLäQSRGUÞDUHVXOWDUIDWDO
3DUDUHGXFLUHOHVIXHU]RSLVHHOSHಢ 6LHQWUDQJDVHVGHHVFDSHHQHO
GDOGHOIUHQRDOPLVPRWLHPSR LQWHULRUGHOYHKÞFXORDEUDODVYHQಢ
࿢ 'HVFRQHFWHHOPRWRU\HOHQFHQಢ WDQLOODV+DJDVXEVDQDUODFDXVD
GLGR*LUHHOYRODQWHKDVWDTXHVH GHODDYHUÞDHQXQWDOOHU
HQFODYHHOEORTXHRGHOPLVPR 1RFLUFXOHFRQHOFRPSDUWLPLHQWR
࿢ 6LHOYHKÞFXORHVWÒHQXQDVXSHUILಢ GHFDUJDDELHUWR\DTXHSRGUÞDQ
FLHSODQDRFXHVWDDUULEDHQJUDQH HQWUDUJDVHVGHHVFDSHHQHOYHಢ
ODSULPHUDRPXHYDODSDODQFDVHಢ KÞFXOR
OHFWRUDD3DQWHVGHGHVFRQHFWDUHO
HQFHQGLGR6LHOYHKÞFXORHVWÒ )LOWURGHSDUWÞFXODVGLÚVHO
FXHVWDDUULEDJLUHODVUXHGDVGHಢ (OVLVWHPDGHILOWURGHSDUWÞFXODVGLÚಢ
ODQWHUDVHQODGLUHFFLäQFRQWUDULDDO VHOILOWUDODVSDUWÞFXODVFRQWDPLQDQWHV
ERUGLOOR GHKROOÞQFRQWHQLGDVHQORVJDVHVGH
6LHOYHKÞFXORHVWÒFXHVWDDEDMR HVFDSH(OVLVWHPDLQFRUSRUDXQDIXQಢ
HQJUDQHODPDUFKDDWUÒVRPXHYD FLäQGHDXWROLPSLH]DTXHDFWëDDXWRಢ
ODSDODQFDVHOHFWRUDD3DQWHVGH PÒWLFDPHQWHGXUDQWHODPDUFKD(O
ILOWURVHOLPSLDTXHPDQGRODV
&RQGXFFLäQ\PDQHMR 

SDUWÞFXODVGHKROOÞQDDOWDVWHPSHUDಢ 6LHVQHFHVDULROLPSLDUHOILOWUR'3)R
WXUDV(VWHSURFHVRVHUHDOL]DDXWRಢ VLODVFRQGLFLRQHVDQWHULRUHVQRKDQ
PÒWLFDPHQWHHQGHWHUPLQDGDVFRQGLಢ SHUPLWLGRODOLPSLH]DDXWRPÒWLFDVH
FLRQHVGHFLUFXODFLäQ\SXHGHGXUDU HQFHQGHUÒRSDUSDGHDUÒHOWHVWLJR
GHDPLQXWRV/DSDUDGDDXWRಢ GHOILOWURGHSDUWÞFXODVGLÚVHO6LJD
PÒWLFD $XWRVWRS QRHVWÒGLVSRQLEOH FRQGXFLHQGRFRQXQDYHORFLGDGPÞಢ
\HOFRQVXPRGHFRPEXVWLEOHSXHGH QLPDGHNPKGXUDQWHXQRV
VHUVXSHULRUGXUDQWHHVWHSHUÞRGR/D PLQXWRVRKDVWDTXHVHDSDJXHHO
JHQHUDFLäQGHKXPR\RORUHVGXUDQWH LQGLFDGRUGHFRQWURO(OWHVWLJRGH
HOSURFHVRHVQRUPDO FRQWUROVHDSDJDUÒHQFXDQWRVHKD\D
FRPSOHWDGRODRSHUDFLäQGHDXWROLPಢ
SLH]D
6LVHDSDJDHOPRWRUPLHQWUDVHVWH
'XUDQWHODOLPSLH]DVHUHFRPLHQGD
WHVWLJRHVWÒHQFHQGLGRRSDUSDಢ
QRLQWHUUXPSLUHOYLDMHQLGHVFRQHFWDU
GHDQGRDXPHQWDHOFRQVXPRGH
HOHQFHQGLGR
FRPEXVWLEOH\VHUHGXFHODYLGDëWLO
GHODFHLWH7HQJDHQFXHQWDTXHHO
FRQGXFWRUGHEHUÞDFRQWLQXDUHOSURಢ $WHQFLäQ
FHVRGHUHJHQHUDFLäQFLUFXODQGR
KDVWDTXHHOWHVWLJRGHOILOWURGHSDUWÞಢ 6LHOSURFHVRGHOLPSLH]DVHLQWHಢ
FXODVGLÚVHOVHDSDJXH UUXPSHPÒVGHXQDYH]KD\
ULHVJRGHSURYRFDUJUDYHVGDâRV
3DUDPÒVLQIRUPDFLäQFRQVXOWHODHWLಢ HQHOPRWRU
TXHWDGHO'3)HQHOLQWHULRUGHOYHಢ
(QGHWHUPLQDGDVFRQGLFLRQHVGHFRQಢ KÞFXOR
GXFFLäQFRPRHQGLVWDQFLDVFRUWDV /DOLPSLH]DVHUHDOL]DPÒVUÒSLGDಢ
HOVLVWHPDQRVHSXHGHOLPSLDUDXWRಢ PHQWHDUHJÞPHQHVGHUHYROXFLRQHV
PÒWLFDPHQWH PRWRUHOHYDGRV\FDUJDGHOPRWRU
DOWD
 &RQGXFFLäQ\PDQHMR

$WHQFLäQ &DPELRDXWRPÒWLFR
/RVFRPEXVWLEOHVGHXQDFDOLGDG (OFDPELRDXWRPÒWLFRSHUPLWHHOFDPಢ
GLVWLQWDDORVPHQFLRQDGRVHQODV ELRGHPDUFKDVPDQXDO PRGRPDಢ
SÒJLQDV  SRGUÞDQ QXDO RDXWRPÒWLFR PRGRDXWRPÒಢ
FDXVDUGDâRVHQHOFDWDOL]DGRUR WLFR 
HQORVFRPSRQHQWHVHOHFWUäQLFRV
/DJDVROLQDVLQTXHPDUSXHGH 3DQWDOODLQGLFDGRUDGHO
SURGXFLUXQVREUHFDOHQWDPLHQWR\ FDPELR
GDâRVHQHOFDWDOL]DGRU3RUHVR
VHGHEHHYLWDUHOXVRH[FHVLYRGHO
PRWRUGHDUUDQTXHYDFLDUHOGHಢ
(OWHVWLJRGHFRQWUROVHDSDJDHQ SäVLWRGHFRPEXVWLEOH\DUUDQFDU
FXDQWRVHKDFRPSOHWDGRHOSURFHVR HOPRWRUHPSXMDQGRRUHPROFDQGR
GHDXWROLPSLH]D HOYHKÞFXOR

&DWDOL]DGRU 6LVHSURGXFHQIDOORVGHHQFHQGLGR
IXQFLRQDPLHQWRLUUHJXODUGHOPRWRU
(OFDWDOL]DGRUUHGXFHHOFRQWHQLGRGH GLVPLQXFLäQSHUFHSWLEOHGHODSRWHQಢ
VXVWDQFLDVQRFLYDVHQORVJDVHVGH FLDGHOPRWRURFXDOTXLHURWUDDQRPDಢ
HVFDSH OÞDKDJDVXEVDQDUODFDXVDGHODDYHಢ
UÞDHQXQWDOOHUORDQWHVSRVLEOH(Q
FDVRGHHPHUJHQFLDVHSXHGHFRQWLಢ
QXDUFLUFXODQGRGXUDQWHXQEUHYHSHಢ /DPDUFKDRHOPRGRVHOHFFLRQDGRVH
ULRGRPDQWHQLHQGRODYHORFLGDGGHO PXHVWUDHQODSDQWDOODLQGLFDGRUDGHO
YHKÞFXOR\HOUÚJLPHQGHOPRWRUEDMRV FDPELR
&RQGXFFLäQ\PDQHMR 

3DODQFDVHOHFWRUD /DSDODQFDVHOHFWRUDHVWÒEORTXHDGD 6DFDUHOYHKÞFXORPHFLÚQGROR


HQ33DUDPRYHUVHFRQHFWHHOHQಢ 6äORVHGHEHPHFHUHOYHKÞFXOR
FHQGLGRSLVHHOSHGDOGHOIUHQR\ FXDQGRTXHGDDWDVFDGRHQDUHQD
SXOVHHOERWäQGHGHVEORTXHR EDUURRQLHYH0XHYDODSDODQFDVHಢ
3DUDVHOHFFLRQDU3R5SXOVHHOERWäQ OHFWRUDUHSHWLGDPHQWHHQWUH'\51R
GHGHVEORTXHR UHYROXFLRQHH[FHVLYDPHQWHHOPRWRU\
3DUDDUUDQFDUHOPRWRUSLVHHOSHGDO HYLWHXQDDFHOHUDFLäQEUXVFD
GHOIUHQRFRQODSDODQFDHQODSRVLFLäQ
3R1 (VWDFLRQDPLHQWR
$FFLRQHHOIUHQRGHHVWDFLRQDPLHQWR
1RDFHOHUHPLHQWUDVHQJUDQDXQD VHOHFFLRQH3\VDTXHODOODYHGHOHQಢ
PDUFKD1XQFDSLVHORVSHGDOHVGHO FHQGLGR
DFHOHUDGRU\GHOIUHQRDOPLVPR
WLHPSR /DOODYHGHOHQFHQGLGRVäORVHSXHGH
VDFDUFXDQGRODSDODQFDVHOHFWRUD
3 SRVLFLäQGHHVWDFLRQDPLHQWR &RQXQDPDUFKDHQJUDQDGD\HOIUHQR HVWÒHQODSRVLFLäQ3
ODVUXHGDVHVWÒQEORTXHDGDV VXHOWRHOYHKÞFXORDYDQ]DOHQWDಢ
VäORVHGHEHVHOHFFLRQDUFRQHO PHQWH
YHKÞFXORSDUDGR\HOIUHQRGH
HVWDFLRQDPLHQWRDFFLRQDGR
(IHFWRGHIUHQRGHOPRWRU
5 PDUFKDDWUÒVVäORVHGHEHVHಢ $ILQGHDSURYHFKDUHOHIHFWRGHIUHQR
OHFFLRQDUFRQHOYHKÞFXORSDಢ GHOPRWRUVHOHFFLRQHDWLHPSRXQD
UDGR PDUFKDPÒVEDMDDOFLUFXODUFXHVWD
1 SXQWRPXHUWR DEDMR
' PRGRDXWRPÒWLFRFRQWRGDVODV
PDUFKDV
 &RQGXFFLäQ\PDQHMR

0RGRPDQXDO 6LHOUÚJLPHQGHOPRWRUHVGHPDVLDGR )XQFLäQNLFNGRZQ


EDMRVHFDPELDDXWRPÒWLFDPHQWHD
SDUWLUGHXQDGHWHUPLQDGDYHORFLGDG
DXQDPDUFKDPÒVFRUWD
&RQUHJÞPHQHVGHUHYROXFLRQHVDOWRV
GHOPRWRUQRVHSURGXFHHOFDPELR
DXWRPÒWLFRDXQDPDUFKDPÒVODUJD
&RQFDPELRDXWRPÒWLFRHOFDPELRGH
PDUFKDSRGUÞDQRVHUVXDYH3HURQR
VHWUDWDGHXQSUREOHPDGHOFDPELR
DXWRPÒWLFR6LVHUHDOL]DHODSUHQGLಢ
]DMHGHOSDWUäQGHFDPELRGHO7&0
PHGLDQWHYDULRVFDPELRVDVFHQGHQಢ
WHV\GHVFHQGHQWHVVHVXDYL]DUÒHO
0XHYDODSDODQFDVHOHFWRUDGHVGHOD SURFHVRGHFDPELR 3DUDXQDPD\RUDFHOHUDFLäQSLVHHO
SRVLFLäQ'KDFLDODL]TXLHUGD\OXHJR SHGDOGHODFHOHUDGRUKDVWDHOIRQGR\
KDFLDGHODQWHRKDFLDDWUÒV PDQWÚQJDORSLVDGR/DFDMDGHFDPಢ
3URJUDPDVHOHFWUäQLFRVGH ELRVVHOHFFLRQDUÒXQDPDUFKDPÒV
 3DUDFDPELDUDXQDPDUFKD
PÒVODUJD PDUFKD FRUWDGHSHQGLHQGRGHOUÚJLPHQGHO
࿢ 0HGLDQWHHODXPHQWRGHOUÚJLPHQ PRWRU
< 3DUDFDPELDUDXQDPDUFKD GHOPRWRUHOSURJUDPDGHWHPSHಢ
PÒVFRUWD UDWXUDGHIXQFLRQDPLHQWRSRQHHO $YHUÞD
6LVHVHOHFFLRQDXQDPDUFKDPÒV FDWDOL]DGRUUÒSLGDPHQWHDODWHPಢ
SHUDWXUDQHFHVDULD (QFDVRGHDYHUÞDVHHQFLHQGHHO
ODUJDFLUFXODQGRDXQDYHORFLGDGGHಢ WHVWLJRGHDYHUÞDVJ/DFDMDGH
PDVLDGREDMDRELHQXQDPDUFKD ࿢ /DIXQFLäQGHVHOHFFLäQDXWRPÒWLFD FDPELRVGHMDGHFDPELDUDXWRPÒWLFD
PÒVFRUWDDXQDYHORFLGDGGHPDಢ GHSXQWRPXHUWRDFWëDFXDQGRVH \PDQXDOPHQWHSRUTXHHVWÒEORಢ
VLDGRDOWDQRVHSURGXFHHOFDPELR GHWLHQHHOYHKÞFXORFRQXQDPDUFKD TXHDGDHQDOJXQDPDUFKD
GHPDUFKD GHDYDQFH
&RQGXFFLäQ\PDQHMR 

+DJDVXEVDQDUODFDXVDGHODDYHUÞD  ,QVHUWHXQGHVWRUQLOODGRUHQ
HQXQWDOOHU ODDEHUWXUDKDVWDHOWRSH\VDTXH
ODSDODQFDVHOHFWRUDGHODSRVLಢ
FLäQ36LVHVHOHFFLRQDGHQXHYR
,QWHUUXSFLäQGHFRUULHQWH 3ODSDODQFDVHOHFWRUDYROYHUÒD
(QFDVRGHLQWHUUXSFLäQGHFRUULHQWH EORTXHDUVH+DJDVXEVDQDUOD
ODSDODQFDVHOHFWRUDQRVHSXHGHPRಢ FDXVDGHODLQWHUUXSFLäQGHFRಢ
YHUGHODSRVLFLäQ3/DOODYHQRVH UULHQWHHQXQWDOOHU
SXHGHVDFDUGHODFHUUDGXUDGHOHQಢ  &LHUUHODWDSD
FHQGLGR
6LODEDWHUÞDHVWÒGHVFDUJDGDSRQJD
HQPDUFKDHOYHKÞFXORFRQFDEOHVDXಢ
[LOLDUHVGHDUUDQTXH   $EUDODWDSDDODGHUHFKDGHOD
6LODEDWHUÞDQRHVODFDXVDGHODDYHಢ SDODQFDVHOHFWRUD
UÞDVXHOWHODSDODQFDVHOHFWRUD\VDಢ
TXHODOODYHGHODFHUUDGXUDGHOHQಢ
FHQGLGR

'HVEORTXHRGHODSDODQFD
VHOHFWRUD
 $FFLRQHHOIUHQRGHHVWDFLRQDಢ
PLHQWR
 &RQGXFFLäQ\PDQHMR

&DPELRPDQXDO 3LVHVLHPSUHDIRQGRHOSHGDOGHOHPಢ )UHQRV


EUDJXH1RXWLOLFHHOSHGDOFRPR
DSR\RSDUDHOSLH
(OVLVWHPDGHIUHQRVWLHQHGRVFLUFXLಢ
WRVGHIUHQRLQGHSHQGLHQWHV
$WHQFLäQ
6LIDOODXQRGHORVFLUFXLWRVGHIUHQRV
1RHVDFRQVHMDEOHFRQGXFLUFRQOD DëQHVSRVLEOHIUHQDUHOYHKÞFXORFRQ
PDQRDSR\DGDHQODSDODQFDVHಢ HORWURFLUFXLWR6LQHPEDUJRSDUDIUHಢ
OHFWRUD QDUKD\TXHSLVDUHOSHGDOILUPHಢ
PHQWH6HUHTXLHUHPXFKDPÒV
IXHU]DSDUDHOOR/DGLVWDQFLDGHIUHಢ
QDGRVHUÒPD\RU$QWHVGHFRQWLQXDU
VXYLDMHUHFXUUDDODD\XGDGHXQWDಢ
OOHU
&XDQGRHOPRWRUQRHVWÒHQPDUFKD
3DUDHQJUDQDUODPDUFKDDWUÒVFRQHO HOVHUYRIUHQRGHMDGHIXQFLRQDUGHVಢ
YHKÞFXORSDUDGROHYDQWHODDQLOODGH SXÚVGHSLVDUHOSHGDOGHOIUHQRXQDR
ODSDODQFDVHOHFWRUD\HQJUDQHOD GRVYHFHV(VWRQRVLJQLILFDTXHOD
PDUFKD DFFLäQGHOIUHQRVHDPHQRUSHURKDಢ
EUÒTXHSLVDUHOSHGDOFRQPÒVIXHU]D
/RVYHKÞFXORVFRQPRWRUGLÚVHOQRWLHಢ (VWRGHEHWHQHUVHHQFXHQWDHVSHಢ
QHQERWäQHQODSDODQFDVHOHFWRUD FLDOPHQWHDOUHPROFDUHOYHKÞFXOR
6LODPDUFKDQRHQWUDFRQIDFLOLGDG 7HVWLJRGHFRQWURO1 
SRQJDODSDODQFDHQSXQWRPXHUWR
VXHOWHHOSHGDOGHOHPEUDJXH\SÞVHOR
GHQXHYROXHJRUHSLWDODVHOHFFLäQGH
ODPDUFKD
1RFRQGX]FDDPHGLRHPEUDJXHLQಢ
QHFHVDULDPHQWH
&RQGXFFLäQ\PDQHMR 

6LVWHPDDQWLEORTXHRGH $YHUÞD $SOLTXHVLHPSUHHOIUHQRGHHVWDFLRಢ


QDPLHQWRILUPHPHQWHVLQSXOVDUHO
IUHQRV  $GYHUWHQFLD ERWäQGHGHVEORTXHRHQSHQGLHQWHV
(OVLVWHPDDQWLEORTXHRGHIUHQRV DFFLäQHORFRQWRGDODILUPH]DSRVLEOH
$%6 HYLWDTXHVHEORTXHHQODVUXHಢ 6LKD\XQDDYHUÞDGHO$%6ODVUXHಢ 3DUDVROWDUHOIUHQRGHHVWDFLRQDಢ
GDV GDVSXHGHQEORTXHDUVHHQFDVR PLHQWROHYDQWHXQSRFRODSDODQFD
(O$%6FRPLHQ]DDUHJXODUODSUHVLäQ GHIUHQD]RVIXHUWHV/DVYHQWDMDV SXOVHHOERWäQGHGHVEORTXHR\EDMH
GHORVIUHQRVHQFXDQWRXQDUXHGD GHO$%6\DQRHVWÒQGLVSRQLEOHV FRPSOHWDPHQWHODSDODQFD
PXHVWUDWHQGHQFLDDEORTXHDUVH(O $OIUHQDUDIRQGRHOYHKÞFXOR\DQR 3DUDUHGXFLUHOHVIXHU]RQHFHVDULR
YHKÞFXORPDQWLHQHODPDQLREUDELOLಢ UHVSRQGHDOYRODQWH\SXHGHGHಢ SDUDDFFLRQDUHOIUHQRGHHVWDFLRQDಢ
GDGLQFOXVRGXUDQWHXQDIUHQDGDD UUDSDU PLHQWRSLVHVLPXOWÒQHDPHQWHHOSHಢ
IRQGR GDOGHOIUHQR
/DUHJXODFLäQGHOVLVWHPD$%6VH +DJDVXEVDQDUODFDXVDGHODDYHUÞD
HQXQWDOOHU 7HVWLJRGHFRQWURO  
PDQLILHVWDPHGLDQWHODVSXOVDFLRQHV
GHOSHGDOGHOIUHQR\XQUXLGRGHUHಢ
JODMH )UHQRGHHVWDFLRQDPLHQWR $VLVWHQWHGHIUHQDGD
3DUDXQDHILFDFLDäSWLPDGHOIUHQDGR $OSLVDUIXHUWH\UÒSLGRHOSHGDOGHO
PDQWHQJDHOSHGDOGHOIUHQRSLVDGR IUHQRVHIUHQDDXWRPÒWLFDPHQWHFRQ
GXUDQWHWRGRHOSURFHVRGHIUHQDGR ODPÒ[LPDSRWHQFLDGHOIUHQR IUHQDGD
DXQTXHHOSHGDOWLHPEOH1RGLVPLಢ DIRQGR 
QX\DODSUHVLäQHMHUFLGDVREUHHOSHಢ 0DQWHQJDSLVDGRHOSHGDOGHOIUHQR
GDO PLHQWUDVVHDQHFHVDULRIUHQDUD
7HVWLJRGHFRQWUROS  IRQGR/DPÒ[LPDIXHU]DGHIUHQDGD
VHUHGXFHDXWRPÒWLFDPHQWHDOVROWDU
HOSHGDOGHOIUHQR
(ODVLVWHQWHGHIUHQDGDIRUPDSDUWH
GHOFRQWUROHOHFWUäQLFRGHHVWDELOLGDG
 &RQGXFFLäQ\PDQHMR

6LVWHPDVGHFRQWUROGH 6HHQFLHQGHHOWHVWLJRGHFRQWURON
 $GYHUWHQFLD
(O7&VHUHDFWLYDSXOVDQGRGHQXHYR
ODFRQGXFFLäQ HOERWäQE
1RGHMHTXHHVWDFDUDFWHUÞVWLFDHVಢ
6LVWHPDGHFRQWUROGH SHFLDOGHVHJXULGDGOHLQFLWHDFRQಢ (O7&WDPELÚQVHUHDFWLYDODSUä[LPD
GXFLUDUULHVJDGDPHQWH YH]TXHFRQHFWHHOHQFHQGLGR
WUDFFLäQ
/DYHORFLGDGGHEHDGDSWDUVHDODV
(OVLVWHPDGHFRQWUROGHWUDFFLäQ 7& FRQGLFLRQHVGHODFDO]DGD
PHMRUDODHVWDELOLGDGGHPDUFKDHQ &RQWUROHOHFWUäQLFRGH
FDVRQHFHVDULRFRQLQGHSHQGHQFLD 7HVWLJRGHFRQWUROE  HVWDELOLGDG
GHOWLSRGHFDO]DGD\GHODJDUUHGHORV (OFRQWUROHOHFWUäQLFRGHHVWDELOLGDG
QHXPÒWLFRVHYLWDQGRTXHSDWLQHQODV 'HVDFWLYDFLäQ (6& PHMRUDODHVWDELOLGDGGHPDUಢ
UXHGDVPRWULFHV FKDHQFDVRQHFHVDULRFRQLQGHSHQಢ
(QFXDQWRODVUXHGDVPRWULFHVFRಢ GHQFLDGHOWLSRGHFDO]DGD\GHODJDಢ
PLHQ]DQDSDWLQDUVHUHGXFHODSRಢ UUHGHORVQHXPÒWLFRV7DPELÚQHYLWD
WHQFLDGHOPRWRU\VHIUHQDLQGLYLGXDOಢ TXHSDWLQHQODVUXHGDVPRWULFHV
PHQWHODUXHGDTXHPÒVSDWLQD(VWR (QFXDQWRHOYHKÞFXORFRPLHQ]DDGHಢ
PHMRUDFRQVLGHUDEOHPHQWHODHVWDELಢ UUDSDU VXEYLUDMHVVREUHYLUDMHV VH
OLGDGGHPDUFKDGHOYHKÞFXORVREUH UHGXFHODSRWHQFLDGHOPRWRU\VHIUHಢ
FDO]DGDVUHVEDODGL]DV QDQODVUXHGDVLQGLYLGXDOPHQWH(VWR
(O7&HVWÒRSHUDWLYRHQFXDQWRVH PHMRUDFRQVLGHUDEOHPHQWHODHVWDELಢ
DSDJDHOWHVWLJRGHFRQWUROE OLGDGGHPDUFKDGHOYHKÞFXORVREUH
&XDQGRLQWHUYLHQHHO7&SDUSDGHDHO FDO]DGDVUHVEDODGL]DV
WHVWLJRE (O(6&HVWÒRSHUDWLYRHQFXDQWRVH
DSDJDHOWHVWLJRGHFRQWUROE
6HSXHGHGHVFRQHFWDUHO7&FXDQGR
VHDQHFHVDULRTXHODVUXHGDVPRWULಢ &XDQGRLQWHUYLHQHHO(6&SDUSDGHD
FHVSDWLQHQSXOVHHOERWäQEGXUDQWH HOWHVWLJRE
VHJXQGRVDSUR[
&RQGXFFLäQ\PDQHMR 

6HHQFLHQGHHOWHVWLJRGHFRQWUROQ 5HJXODGRUGHYHORFLGDG
 $GYHUWHQFLD
(O(6&VHUHDFWLYDSXOVDQGRGH
1RGHMHTXHHVWDFDUDFWHUÞVWLFDHVಢ QXHYRHOERWäQE6LSUHYLDPHQWHVH (OUHJXODGRUGHYHORFLGDGSHUPLWH
SHFLDOGHVHJXULGDGOHLQFLWHDFRQಢ GHVDFWLYäHO7&WDQWRHO7&FRPRHO PHPRUL]DU\PDQWHQHUYHORFLGDGHV
GXFLUDUULHVJDGDPHQWH (6&HVWDUÒQGHVDFWLYDGRV GHVGHORVKDVWDORVNPKDSURಢ
/DYHORFLGDGGHEHDGDSWDUVHDODV (O(6&WDPELÚQVHUHDFWLYDODSUäಢ [LPDGDPHQWH6HSXHGHQSURGXFLU
FRQGLFLRQHVGHODFDO]DGD [LPDYH]TXHFRQHFWHHOHQFHQGLGR YDULDFLRQHVUHVSHFWRDODYHORFLGDG
PHPRUL]DGDFXDQGRVHFRQGXFH
6LHOVLVWHPD(6&LQWHUYLHQHDFWLYDಢ
FXHVWDDUULEDRFXHVWDDEDMR
7HVWLJRGHFRQWUROE  PHQWHSDUDPHMRUDUODHVWDELOLGDGGHO
YHKÞFXORUHGX]FDODYHORFLGDG\ 3RUPRWLYRVGHVHJXULGDGHOUHJXODಢ
'HVDFWLYDFLäQ SUHVWHHVSHFLDODWHQFLäQDODVFRQGLಢ GRUGHYHORFLGDGVäORVHSXHGHDFWLಢ
FLRQHVGHODFDO]DGD(OVLVWHPD(6& YDUWUDVKDEHUSLVDGRXQDYH]HOSHGDO
VäORHVXQGLVSRVLWLYRFRPSOHPHQWDಢ GHOIUHQR
ULRSDUDHOYHKÞFXOR6LHOYHKÞFXORVRಢ
EUHSDVDVXVOÞPLWHVIÞVLFRV\DQRVH
SRGUÒFRQWURODU3RUORWDQWRQRFRQಢ
IÞHH[FOXVLYDPHQWHHQHVWHVLVWHPD
&RQGX]FDFRQVHJXULGDG

3DUDXQDFRQGXFFLäQPX\GHSRUWLYD
VHSXHGHGHVDFWLYDUHO(6&PDQಢ
WHQJDSXOVDGRHOERWäQEGXUDQWH
VHJXQGRVDSUR[
 &RQGXFFLäQ\PDQHMR

1RDFWLYHHOUHJXODGRUGHYHORFLGDGVL $XPHQWDUODYHORFLGDG ࿢ DOSLVDUHOSHGDOGHOHPEUDJXHGXಢ


QRHVDFRQVHMDEOHPDQWHQHUXQDYHಢ &RQHOUHJXODGRUGHYHORFLGDGDFWLಢ UDQWHPÒVGHXQRVVHJXQGRV
ORFLGDGFRQVWDQWH YDGRPDQWHQJDODUXHGDGHDMXVWHJLಢ ࿢ FRQODSDODQFDVHOHFWRUDHQ1
&RQFDPELRDXWRPÒWLFRVäORGHEH UDGDKDFLD5(6RJÞUHODEUHYHಢ ࿢ FRQXQUÚJLPHQGHOPRWRUPX\EDMR
DFWLYDUHOUHJXODGRUGHYHORFLGDGHQHO PHQWHD5(6YDULDVYHFHVODYHORಢ
PRGRDXWRPÒWLFR FLGDGDXPHQWDFRQWLQXDPHQWHRHQ ࿢ DOLQWHUYHQLUHOVLVWHPDGHFRQWURO
SHTXHâRVLQFUHPHQWRV GHWUDFFLäQRHOFRQWUROHOHFWUäQLFR
7HVWLJRGHFRQWURO>  GHHVWDELOLGDG
&RPRDOWHUQDWLYDDFHOHUHKDVWDOD
&RQH[LäQ YHORFLGDGGHVHDGD\PHPRULFHHOYDಢ 5HVWDEOHFHUODYHORFLGDG
3XOVHHOLQWHUUXSWRUEDVFXODQWH>HQ ORUJLUDQGRODUXHGDD5(6 PHPRUL]DGD
ODSDUWHVXSHULRUHOWHVWLJRGHFRQWURO $XQDYHORFLGDGVXSHULRUDNPK
>VHHQFLHQGHHQEODQFR 5HGXFLUODYHORFLGDG
JLUHODUXHGDGHDMXVWHKDFLD5(6
&RQHOUHJXODGRUGHYHORFLGDGDFWLಢ
6HHVWDEOHFHUÒODYHORFLGDGPHPRULಢ
$FWLYDFLäQ YDGRPDQWHQJDODUXHGDGHDMXVWHJLಢ
]DGD6LODGLIHUHQFLDHQWUHODYHORFLಢ
$FHOHUHKDVWDDOFDQ]DUODYHORFLGDG UDGDKDFLD6(7RJÞUHODEUHYHPHQWH
GDGDFWXDO\PHPRUL]DGDHVVXSHULRU
GHVHDGD\JLUHODUXHGDGHDMXVWHD D6(7YDULDVYHFHVODYHORFLGDG
DNPKHOYHKÞFXORQRSXHGHUHVಢ
6(7VHPHPRUL]D\PDQWLHQHODYHಢ GLVPLQX\HFRQWLQXDPHQWHRHQSHಢ
WDEOHFHUODYHORFLGDGPHPRUL]DGD
ORFLGDGDFWXDO6HHQFLHQGHODOX] TXHâRVLQFUHPHQWRV
YHUGHGHOWHVWLJRGHFRQWURO>6H 'HVFRQH[LäQ
SXHGHVROWDUHOSHGDOGHODFHOHUDGRU 'HVDFWLYDFLäQ
3XOVHHOLQWHUUXSWRUEDVFXODQWH>HQ
/DYHORFLGDGGHOYHKÞFXORSXHGHDXಢ 3XOVHHOERWäQ\HOWHVWLJRGHFRQWURO
ODSDUWHLQIHULRUHOWHVWLJRGHFRQWURO
>VHHQFLHQGHHQEODQFR(OUHJXODಢ
PHQWDUVHSLVDQGRHOSHGDOGHODFHOHಢ >VHDSDJD6HERUUDODYHORFLGDG
UDGRU&XDQGRVHVXHOWDHOSHGDOGHO GRUGHYHORFLGDGHVWÒGHVDFWLYDGR6H
PHPRUL]DGD/DYHORFLGDGPHPRULಢ
DFHOHUDGRUVHUHFXSHUDODYHORFLGDG JXDUGDODYHORFLGDGPHPRUL]DGD
]DGDVHERUUDWDPELÚQDOGHVFRQHFWDU
PHPRUL]DGDSUHYLDPHQWH 'HVDFWLYDFLäQDXWRPÒWLFD HOHQFHQGLGR
6HSXHGHFDPELDUGHPDUFKDPLHQಢ ࿢ DXQDYHORFLGDGGHOYHKÞFXORLQIHಢ
WUDVHOUHJXODGRUGHYHORFLGDGHVWÒ ULRUDNPKDSUR[LPDGDPHQWH
DFWLYDGR ࿢ DOSLVDUHOSHGDOGHOIUHQR
&RQGXFFLäQ\PDQHMR 

6LVWHPDVGHGHWHFFLäQ (OVLVWHPDVHFRPSRQHGHFXDWUR $YHUÞD


VHQVRUHVGHDSDUFDPLHQWRSRUXOWUDಢ (QFDVRGHDYHUÞDHQHOVLVWHPDVH
GHREMHWRV VRQLGRVPRQWDGRVHQHOSDUDFKRTXHV HQFLHQGHJ
WUDVHUR
$VLVWHQWHGHDSDUFDPLHQWR $GHPÒVVLHOVLVWHPDQRIXQFLRQDGHಢ
7HVWLJRGHFRQWUROJ  ELGRDFRQGLFLRQHVWHPSRUDOHVFRPR
1RWD ODSUHVHQFLDGHQLHYHHQORVVHQVRಢ
(OPRQWDMHGHFRPSRQHQWHVHQOD UHVVHLOXPLQDJ
]RQDGHGHWHFFLäQSXHGHRFDVLRQDU
IDOORVGHOVLVWHPD ,QGLFDFLRQHVLPSRUWDQWHVSDUD
HOXVRGHORVVLVWHPDVGH
$FWLYDFLäQ DVLVWHQFLDDODSDUFDPLHQWR
(OVLVWHPDVHDFWLYDDXWRPÒWLFDಢ
PHQWHDOHQJUDQDUODPDUFKDDWUÒV
 $GYHUWHQFLD
/DSUHVHQFLDGHXQREVWÒFXORVHLQಢ
GLFDPHGLDQWHDYLVRVDFëVWLFRV(OLQಢ (QGHWHUPLQDGDVFLUFXQVWDQFLDV
WHUYDORHQWUHDYLVRVVHDFRUWDFRQಢ DOJXQDVVXSHUILFLHVUHIOHFWDQWHV
IRUPHHOYHKÞFXORVHDFHUFDDOREVWÒಢ VREUHREMHWRVRURSDVDVÞFRPR
(ODVLVWHQWHGHDSDUFDPLHQWRIDFLOLWD FXOR&XDQGRODGLVWDQFLDHVLQIHULRUD IXHQWHVGHUXLGRH[WHUQDVSXHGHQ
HOHVWDFLRQDPLHQWRPLGLHQGRODGLVಢ FPHODYLVRDFëVWLFRVXHQDFRQWLಢ GDUOXJDUDIDOORVGHOVLVWHPDHQOD
WDQFLDHQWUHHOYHKÞFXOR\ORVSRVLEOHV QXDPHQWH GHWHFFLäQGHREVWÒFXORV
REVWÒFXORVWUDVHURV\HPLWLHQGRVHಢ
âDOHVDFëVWLFDV6LQHPEDUJRHVWR 'HVDFWLYDFLäQ
(OVLVWHPDVHGHVDFWLYDDXWRPÒWLFDಢ $WHQFLäQ
QRH[LPHDOFRQGXFWRUGHVXUHVSRQಢ
VDELOLGDGHQODPDQLREUDGHDSDUFDಢ PHQWHFXDQGR
/DVHQVLELOLGDGGHOVHQVRUSRGUÞD
PLHQWR ࿢ HOYHKÞFXORVXSHUDORVNPK
UHGXFLUVHSRUFDXVDVH[WHUQDV
࿢ HOYHKÞFXORHVWÒDSDUFDGR FRPRODSUHVHQFLDGHKLHORQLHYH
࿢ KD\XQDDYHUÞDHQHOVLVWHPD
 &RQGXFFLäQ\PDQHMR

EDUURVXFLHGDGFDSDVGHSLQWXUD 6RQDSOLFDEOHVFRQGLFLRQHVSDUWLಢ HQFDGDHVSHMRUHWURYLVRUODWHUDOVL


EDUQL]HWFHQODVXSHUILFLHGHO FXODUHVSDUDORVYHKÞFXORVDOWRV S GHWHFWDODSUHVHQFLDGHREMHWRVTXH
VHQVRU HMYHKÞFXORVWRGRWHUUHQRPRQRಢ SRGUÞDQQRUHVXOWDUYLVLEOHVDWUDYÚV
YROëPHQHVIXUJRQHWDV 1RVH GHORVUHWURYLVRUHVLQWHULRU\H[WHULRಢ
(OVHQVRUSRGUÞDGHWHFWDUXQREಢ UHV
MHWRLQH[LVWHQWH LQWHUIHUHQFLDGHO SXHGHJDUDQWL]DUODLGHQWLILFDFLäQ
HFR GHELGRDLQWHUIHUHQFLDV GHREMHWRVHQODSDUWHVXSHULRUGHO /RVVHQVRUHVGHOVLVWHPDVHHQFXHQಢ
DFëVWLFDVH[WHUQDVSHMRWURVLVಢ YHKÞFXOR WUDQHQHOSDUDFKRTXHVHQHOODGRL]ಢ
WHPDGHD\XGDGHHVWDFLRQDಢ (OUHQGLPLHQWRGHORVVLVWHPDVGH TXLHUGR\GHUHFKRGHOYHKÞFXOR
PLHQWR D\XGDSDUDDSDUFDUSRGUÞDYHUVH
UHGXFLGRSRUHODFRSODPLHQWR  $GYHUWHQFLD
(OVHQVRUSRGUÞDGHWHFWDUXQREಢ
MHWRLQH[LVWHQWH LQWHUIHUHQFLDGHO DFëVWLFRDOYHKÞFXORFDXVDGRSRU
ODHVFDUFKD/RVREMHWRVFRQXQD /DDOHUWDGHSXQWRFLHJRODWHUDOQR
HFR GHELGRDLQWHUIHUHQFLDVPHಢ VXVWLWX\HODYLVLäQGHOFRQGXFWRU
FÒQLFDVH[WHUQDVSHMXQWëQHO VXSHUILFLHGHUHIOH[LäQPX\SHಢ
GHODYDGRODOOXYLDYLHQWRVPX\ TXHâDSXHGHQQRGHWHFWDUVH (OVLVWHPDQRGHWHFWD
IXHUWHVJUDQL]RHWF ࿢ 9HKÞFXORVIXHUDGHODV]RQDVGHO
1RWD SXQWRFLHJRODWHUDOHVTXHSXHಢ
(OUHQGLPLHQWRGHORVVLVWHPDVGH /RVVHQVRUHVSRGUÞDQGHWHFWDUXQ
D\XGDSDUDDSDUFDUSRGUÞDYHUVH GDQDFHUFDUVHUÒSLGDPHQWH
REMHWRLQH[LVWHQWH SHUWXUEDFLäQGHO
UHGXFLGRSRUHOFDPELRGHSRVLಢ HFR GHELGRDSHUWXUEDFLRQHVDFëVಢ ࿢ 3HDWRQHVFLFOLVWDVRDQLPDOHV
FLäQGHORVVHQVRUHVGHELGRDPRಢ WLFDVRPHFÒQLFDVH[WHUQDV $QWHVGHFDPELDUGHFDUULOFRPಢ
GLILFDFLRQHVHQHOYHKÞFXORFRPR SUXHEHVLHPSUHWRGRVORVUHWURYLಢ
XQDEDMDGDGHORVDPRUWLJXDGRUHV $OHUWDGHSXQWRFLHJR VRUHVPLUHSRUHQFLPDGHOKRPEUR
FRQHOSDVRGHOWLHPSRDFDXVD \XWLOLFHHOLQWHUPLWHQWH
GHFDPELRVGHWHPSHUDWXUDFDPಢ ODWHUDO
ELRGHQHXPÒWLFRVFDUJDGHOYHಢ (OVLVWHPDGHDOHUWDGHSXQWRFLHJR &XDQGRHOVLVWHPDGHWHFWDODSUHVHQಢ
KÞFXORPRGLILFDFLäQ WXQLQJ GHO ODWHUDOGHWHFWDHLQIRUPDGHREMHWRVD FLDGHXQYHKÞFXORHQOD]RQDFLHJD
YHKÞFXORHWF FXDOTXLHUODGRGHOYHKÞFXORGHQWURGH ODWHUDOGXUDQWHODFRQGXFFLäQKDFLD
XQD]RQDHVSHFLILFDGDGHSXQWR GHODQWH\DVHDDGHODQWDQGRRVLHQGR
FLHJR(OVLVWHPDDOHUWDYLVXDOPHQWH DGHODQWDGRVHLOXPLQDUÒXQVÞPEROR
&RQGXFFLäQ\PDQHMR 

GHDGYHUWHQFLD%HQHOHVSHMRUHWURಢ VHDSDJDUÒQORVVÞPERORVGHDGYHUಢ /DV]RQDVGHGHWHFFLäQQRYDULDUÒQVL


YLVRUH[WHULRUFRUUHVSRQGLHQWH(Q WHQFLD$FRQWLQXDFLäQVLVHGHWHFWD HOYHKÞFXORFLUFXODFRQUHPROTXH
HVHPRPHQWRVLHOFRQGXFWRUDFWLYD XQYHKÞFXORHQOD]RQDFLHJDORVVÞPಢ /DDOHUWDGHSXQWRFLHJRODWHUDOKD
HOLQWHUPLWHQWHHOVÞPERORGHDGYHUಢ ERORVGHDGYHUWHQFLD%VHLOXPLQDUÒQ VLGRGLVHâDGDSDUDLJQRUDUREMHWRV
WHQFLD%FRPHQ]DUÒDSDUSDGHDUHQ GHODIRUPDKDELWXDOHQHOODGRFRUUHVಢ FRPRJXDUGDUUDÞOHVRTXLWDPLHGRV
ÒPEDUDPRGRGHDGYHUWHQFLDSDUD SRQGLHQWH SRVWHVERUGLOORVSDUHGHV\YLJDV(O
HYLWDUHOFDPELRGHFDUULO $ODUUDQFDUHOYHKÞFXORDPERVUHWURಢ VLVWHPDQRGHWHFWDYHKÞFXORVHVWDFLRಢ
YLVRUHVH[WHULRUHVPRVWUDUÒQEUHYHಢ QDGRVQLDTXHOORVTXHVHDSUR[LPDQ
PHQWHVXVDOHUWDVSDUDLQGLFDUHOFRಢ HQVHQWLGRRSXHVWR
UUHFWRIXQFLRQDPLHQWRGHOVLVWHPD
(OVLVWHPDSXHGHDFWLYDUVHRGHVDFಢ $YHUÞD
WLYDUVHHQHOPHQë$MXVWHVGHOD 2FDVLRQDOPHQWHHOVLVWHPDSXHGHROಢ
SDQWDOODGHLQIRUPDFLäQSHUVRQDOL]Dಢ YLGDUDOJXQDDOHUWDHQFLUFXQVWDQFLDV
FLäQGHOYHKÞFXOR  QRUPDOHVKHFKRPÒVFRPëQHQGÞDV
GHOOXYLDRKëPHGRV
/DGHVDFWLYDFLäQVHLQGLFDPHGLDQWH
XQPHQVDMHHQHOFHQWURGHLQIRUPDಢ /DDOHUWDGHSXQWRFLHJRODWHUDOQR
FLäQGHOFRQGXFWRU IXQFLRQDUÒFXDQGRODVHVTXLQDVGHಢ
UHFKDRL]TXLHUGDGHOSDUDFKRTXHV
=RQDVGHGHWHFFLäQ WUDVHURHVWÚQFXELHUWDVGHEDUURVXಢ
(OVHQVRUGHOVLVWHPDDEDUFDXQD FLHGDGQLHYHKLHORDJXDQLHYHRGXಢ
/DDOHUWDGHSXQWRFLHJRODWHUDOVHDFಢ UDQWHWRUPHQWDVIXHUWHV,QVWUXFFLRಢ
WLYDDYHORFLGDGHVVXSHULRUHVD ]RQDGHXQRVPHWURVDDPERVODGRV
GHOYHKÞFXOR'LFKD]RQDFRPLHQ]D QHVGHOLPSLH]D 
NPK\KDVWDORVNPK6LFLUಢ
FXODDXQDYHORFLGDGVXSHULRUD HQFDGDUHWURYLVRUODWHUDO\VHH[ಢ (QFDVRGHDYHUÞDHQHOVLVWHPDRVL
NPKVHGHVDFWLYDHOVLVWHPDORTXH WLHQGHKDFLDDWUÒVXQRVPHWURV/D HVWHQRIXQFLRQDUDGHELGRDFRQGLFLRಢ
VHLQGLFDPHGLDQWHODLOXPLQDFLäQDWHಢ DOWXUDGHOD]RQDVHVLWëDDSUR[LPDಢ QHVWHPSRUDOHVVHPRVWUDUÒXQPHQಢ
QXDGDGHORVVÞPERORVGHDGYHUWHQಢ GDPHQWHHQWUHPHWURV\ VDMHHQHOFHQWURGHLQIRUPDFLäQGHO
FLD%HQORVGRVUHWURYLVRUHVH[WHULRಢ PHWURVGHGLVWDQFLDGHOVXHOR FRQGXFWRU5HFXUUDDODD\XGDGHXQ
UHV6LUHGXFHGHQXHYRODYHORFLGDG WDOOHU
 &RQGXFFLäQ\PDQHMR

&ÒPDUDUHWURYLVRUD $FWLYDFLäQ
/DFÒPDUDUHWURYLVRUDD\XGDDOFRQಢ /DFÒPDUDUHWURYLVRUDVHDFWLYDDXWRಢ
GXFWRUGXUDQWHODPDUFKDDWUÒVPRVಢ PÒWLFDPHQWHDODFFLRQDUODPDUFKD
WUDQGRXQDYLVWDGHOD]RQDTXHKD\ DWUÒV
GHWUÒVGHOYHKÞFXOR
)XQFLRQDPLHQWR
/DYLVWDGHODFÒPDUDVHPXHVWUDHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU

 $GYHUWHQFLD
/DFÒPDUDUHWURYLVRUDQRVXVWLWX\H
ODYLVLäQGHOFRQGXFWRU7HQJDHQ
FXHQWDTXHORVREMHWRVTXHVHHQಢ 9HUVLäQSXHUWDV/DFÒPDUDHVWÒ
FXHQWUDQIXHUDGHOFDPSRGHYLಢ PRQWDGDHQHOSDUDFKRTXHVWUDVHUR
VLäQGHODFÒPDUD\GHORVVHQVRಢ HQFLPDGHODPDWUÞFXOD
UHVGHODVLVWHQWHGHDSDUFDPLHQWR
DYDQ]DGRFRPRHOSDUDFKRFKHVR
ORVEDMRVGHOYHKÞFXORQRVH
PXHVWUDQ SXHUWDV/DFÒPDUDHVWÒPRQWDGD
1RFLUFXOHPDUFKDDWUÒVREVHUಢ HQODPDQLOODGHOSRUWäQWUDVHUR
YDQGRëQLFDPHQWHODSDQWDOODGH
LQIRUPDFLäQ\FRPSUXHEHHOHQಢ
WRUQRGHWUÒV\DOUHGHGRUGHOYHಢ
KÞFXORDQWHVGHSURFHGHU
&RQGXFFLäQ\PDQHMR 

6WDWLRQ:DJRQ/DFÒPDUDHVWÒPRQಢ /ÞQHDVJXÞD 6ÞPERORVGHDGYHUWHQFLD


WDGDGHEDMRGHODPROGXUDGHOSRUWäQ /DVOÞQHDVJXÞDGLQÒPLFDVVRQOÞQHDV /RVVÞPERORVGHDGYHUWHQFLDVHLQGLಢ
WUDVHUR KRUL]RQWDOHVHQLQWHUYDORVGHPHWUR FDQPHGLDQWHWULÒQJXORVVREUHOD
SUR\HFWDGDVVREUHODLPDJHQSDUD LPDJHQTXHPXHVWUDORVREVWÒFXORV
GHILQLUODGLVWDQFLDDORVREMHWRVPRVಢ GHWHFWDGRVSRUORVVHQVRUHVWUDVHURV
WUDGRV GHODVLVWHQWHGHDSDUFDPLHQWRDYDQಢ
]DGR
3UHVHQWDFLäQGHDMXVWHV

/DFÒPDUDGLVSRQHGHXQÒQJXORGH
YLVLäQGH¡*UDFLDVDODSRVLFLäQ
DOWDGHODFÒPDUDHOSDUDFKRTXHVWUDಢ
VHURVHSXHGHYHUHQODSDQWDOODFRPR /DWUD\HFWRULDGHOYHKÞFXORVHPXHVಢ
JXÞDGHSRVLFLäQ WUDHQIXQFLäQGHOÒQJXORGHODGLUHFಢ
/D]RQDPRVWUDGDSRUODFÒPDUDHV FLäQ
OLPLWDGD/DGLVWDQFLDGHODLPDJHQ (OEULOORSXHGHDMXVWDUVHFRQORVERಢ
/DIXQFLäQVHSXHGHGHVDFWLYDUHQHO
TXHDSDUHFHHQSDQWDOODGLILHUHGHOD WRQHVDUULEDDEDMRGHOERWäQPXOWLಢ
PHQë$MXVWHVGHOD
GLVWDQFLDUHDO IXQFLäQ
SDQWDOODGHLQIRUPDFLäQ3HUVRQDOL]Dಢ
FLäQGHOYHKÞFXOR  (OFRQWUDVWHSXHGHDMXVWDUVHFRQORV
ERWRQHVL]TXLHUGDGHUHFKDGHOERWäQ
PXOWLIXQFLäQ
 &RQGXFFLäQ\PDQHMR

'HVDFWLYDFLäQ ࿢ HOSRUWäQWUDVHURQRHVWÒFRUUHFWDಢ &RPEXVWLEOH


/DFÒPDUDVHGHVDFWLYDDOVXSHUDU PHQWHFHUUDGR
XQDGHWHUPLQDGDYHORFLGDGGH ࿢ HOYHKÞFXORKDVXIULGRXQDFFLGHQWH &RPEXVWLEOHSDUDPRWRUHV
DYDQFHRVLODPDUFKDDWUÒVQRVHVHಢ WUDVHUR
OHFFLRQDGXUDQWHXQRVVHJXQGRV GHJDVROLQD
࿢ H[LVWHQFDPELRVEUXVFRVGHWHPಢ
/DDFWLYDFLäQRGHVDFWLYDFLäQGHOD SHUDWXUD 8WLOLFHVäORFRPEXVWLEOHVLQSORPR
FÒPDUDUHWURYLVRUDVHSXHGHFDPELDU TXHFXPSODODQRUPDHXURSHD
HQHOPHQë$MXVWHVGHODSDQWDOODGH (1R(',1RHTXLYDಢ
LQIRUPDFLäQ3HUVRQDOL]DFLäQGHOYHಢ OHQWH
KÞFXOR  6XPRWRUSXHGHIXQFLRQDUFRQFRPಢ
EXVWLEOH(TXHFXPSODGLFKDVQRUಢ
$YHUÞD PDV(OFRPEXVWLEOH(FRQWLHQH
/RVPHQVDMHVGHDYHUÞDVHPXHVWUDQ KDVWDXQGHELRHWDQRO
FRQXQHQODOÞQHDVXSHULRUGHOD 8WLOLFHFRPEXVWLEOHFRQHORFWDQDMH
SDQWDOODGHLQIRUPDFLäQ UHFRPHQGDGR (OXVRGHXQ
/DFÒPDUDUHWURYLVRUDSRGUÞDQRIXQಢ FRPEXVWLEOHFRQXQRFWDQDMHLQIHULRU
FLRQDUFRUUHFWDPHQWHVL GLVPLQX\HODSRWHQFLD\HOSDUPRWRU
࿢ HOHQWRUQRHVRVFXUR DXPHQWDQGROLJHUDPHQWHHOFRQVXPR
GHFRPEXVWLEOH
࿢ HOVRORHOKD]GHORVIDURVEULOODGLಢ
UHFWDPHQWHVREUHODOHQWHGHODFÒಢ $WHQFLäQ
PDUD
࿢ HOKLHORODQLHYHHOEDUURXRWURV 1RXWLOLFHFRPEXVWLEOHVQLDGLWLYRV
HOHPHQWRVFXEUHQODOHQWHGHODFÒಢ SDUDHOFRPEXVWLEOHTXHFRQWHQಢ
PDUD/LPSLHODOHQWHHQMXÒJXHOD JDQFRPSXHVWRVPHWÒOLFRVFRPR
FRQDJXD\VÚTXHODFRQXQSDâR ORVDGLWLYRVDEDVHGHPDQJDQHVR
VXDYH (VWRSXHGHRFDVLRQDUGDâRVHQHO
PRWRU
&RQGXFFLäQ\PDQHMR 

$WHQFLäQ $WHQFLäQ 5HSRVWDMH


(OXVRGHFRPEXVWLEOHTXHQR (OXVRGHFRPEXVWLEOHTXHQR $WHQFLäQ
FXPSODODQRUPD(1R FXPSODODQRUPD(1RHTXLಢ
(',1RHTXLYDOHQWH YDOHQWHSXHGHSURYRFDUSÚUGLGD 6LXWLOL]DXQFRPEXVWLEOHGHFDOLಢ
SXHGHSURYRFDUODDFXPXODFLäQGH GHSRWHQFLDGHOPRWRUXQPD\RU GDGLQDGHFXDGDRSRQHDGLWLYRV
GHSäVLWRVRGDâRVHQHOPRWRU\ GHVJDVWHRGDâRVHQHOPRWRU\ GHFRPEXVWLEOHLQFRUUHFWRVHQHO
SXHGHDIHFWDUDODJDUDQWÞD SXHGHDIHFWDUDODJDUDQWÞD GHSäVLWRGHFRPEXVWLEOHHOPRWRU
\HOFDWDOL]DGRUSXHGHQVXIULUJUDಢ
1RXVHDFHLWHVGLÚVHOPDULQRVDFHLಢ YHVGDâRV
$WHQFLäQ WHVSDUDFDOHIDFFLäQ$TXD]ROHQL $VHJëUHVHGHXWLOL]DUHOFRPEXVWLಢ
HPXOVLRQHVGHGLÚVHO\DJXDVLPLODಢ EOHFRUUHFWR JDVROLQDRGLÚVHO FRಢ
(OFRPEXVWLEOHFRQXQRFWDQDMH UHV1RGHEHGLOXLUVHHOFRPEXVWLEOH UUHVSRQGLHQWHDVXYHKÞFXOR
GHPDVLDGREDMRSXHGHRFDVLRQDU GLÚVHOFRQFRPEXVWLEOHSDUDPRWRUHV FXDQGRUHSRVWH6LHFKDJDVROLQD
XQDFRPEXVWLäQLQFRQWURODGD\GDಢ GHJDVROLQD HQXQYHKÞFXORGLÚVHOHOYHKÞFXOR
âRVHQHOPRWRU
/DIOXLGH]\ILOWUDELOLGDGGHOFRPEXVWLಢ SXHGHVXIULUJUDYHVGDâRV6LVX
EOHGLÚVHOGHSHQGHQGHODWHPSHUDಢ YHKÞFXORWLHQHXQPRWRUGLÚVHO
&RPEXVWLEOHSDUDPRWRUHV WXUD&XDQGRODVWHPSHUDWXUDVVRQ SXHGHFRQILUPDUHOFRPEXVWLEOH
GLÚVHO EDMDVUHSRVWHFRPEXVWLEOHGLÚVHOFRQ FRUUHFWRHQODLQIRUPDFLäQTXHVH
SURSLHGDGHVSDUDXVRHQLQYLHUQRJDಢ IDFLOLWDHQHOWDSäQGHODERFDGH
8WLOLFHVäORFRPEXVWLEOHGLÚVHOTXH OOHQDGR
FXPSODODQRUPD(1 UDQWL]DGDV
3RUPRWLYRVGHVHJXULGDGORVFRQಢ
(QSDÞVHVGHIXHUDGHOD8QLäQ(XURಢ WHQHGRUHVGHFRPEXVWLEOHODV
SHDXVHFRPEXVWLEOHHXURGLÚVHOFRQ ERPEDV\ODVPDQJXHUDVGHEHQ
XQDFRQFHQWUDFLäQGHVXOIXURLQIHULRU WHQHUXQDWRPDGHWLHUUDDGHಢ
DSSP FXDGD/DHOHFWULFLGDGHVWÒWLFD
 &RQGXFFLäQ\PDQHMR

DFXPXODGDSRGUÞDLQIODPDUHOYDಢ  3HOLJUR
SRUGHODJDVROLQD3RGUÞDVXIULU
TXHPDGXUDV\GDâDUHOYHKÞFXOR (OFRPEXVWLEOHHVLQIODPDEOH\H[ಢ
SORVLYR3URKLELGRIXPDU(YLWHOD
SUHVHQFLDGHOODPDVGHVFXELHUWDV
RFKLVSDV
6LSHUFLEHRORUDFRPEXVWLEOHGHQಢ
WURGHOYHKÞFXORKDJDVXEVDQDUOD
FDXVDLQPHGLDWDPHQWHHQXQWDಢ
OOHU

$WHQFLäQ /DWDSDGHOGHSäVLWRVäORVHSXHGH
DEULUFRQHOYHKÞFXORGHVEORTXHDGR
(QFDVRGHUHSRVWDUFRPEXVWLEOH 'HVEORTXHHODWDSDGHOGHSäVLWRGH
LQFRUUHFWRQRFRQHFWHHOHQFHQಢ FRPEXVWLEOHSXOVDQGRVREUHOD
GLGR PLVPD
 3HOLJUR
/DWDSDGHOGHSäVLWRGHFRPEXVWLEOH
$QWHVGHUHSRVWDUGHVFRQHFWHHO HVWÒVLWXDGDHQHOODGRWUDVHURGHUHಢ
PRWRU\FXDOTXLHUVLVWHPDGHFDಢ FKRGHOYHKÞFXOR
OHIDFFLäQH[WHUQRFRQFÒPDUDGH
FRPEXVWLäQ6HGHEHQGHVFRQHFಢ
WDUORVWHOÚIRQRVPäYLOHV
$OUHSRVWDUGHEHQREVHUYDUVHODV
LQVWUXFFLRQHV\QRUPDVGHVHJXULಢ
GDGGHODHVWDFLäQGHVHUYLFLR
&RQGXFFLäQ\PDQHMR 

3DUDFHUUDUJLUHHOWDSäQGHOGHSäVLWR
KDFLDODGHUHFKDKDVWDTXHKDJDFOLF
&LHUUHODWDSD\SHUPLWDVXHQJDQFKH

7DSäQGHOGHSäVLWR
6äORHOWDSäQGHOGHSäVLWRRULJLQDOOH
SURSRUFLRQDXQFRUUHFWRIXQFLRQDಢ
PLHQWR/RVYHKÞFXORVFRQPRWRUGLÚಢ
VHOWLHQHQXQWDSäQGHOGHSäVLWRHVಢ
SHFLDO

$WHQFLäQ
3DUDDEULUJLUHHOWDSäQOHQWDPHQWH
KDFLDODL]TXLHUGD(OWDSäQGHOGHSäಢ 6LXVDXQWëQHOGHODYDGRFRQHO
VLWRVHSXHGHHQJDQFKDUHQHOVRಢ YHKÞFXORGHVEORTXHDGRVHSRGUÞD
SRUWHGHODWDSDGHOGHSäVLWRGHFRPಢ DEULUODWDSDGHOGHSäVLWRGHFRPಢ
EXVWLEOH EXVWLEOH\VXIULUGDâRVHQHOWëQHO
GHODYDGR
3DUDUHSRVWDULQWURGX]FDWRWDOPHQWH
ODERTXLOODGHOVXUWLGRU\DFWÞYHOR $VHJëUHVHGHEORTXHDUODWDSDGHO
GHSäVLWRGHFRPEXVWLEOHFRQHO
7UDVODLQWHUUXSFLäQDXWRPÒWLFDSRಢ
ERWäQGHOFLHUUHFHQWUDOL]DGR
GUÒUHOOHQDUVHFRQXQPÒ[LPRGHGRV
GRVLVGHFRPEXVWLEOH 1RFLHUUHODWDSDGHOGHSäVLWRGH
FRPEXVWLEOHFRQHOYHKÞFXOREORಢ
$WHQFLäQ TXHDGR

/LPSLHLQPHGLDWDPHQWHHOFRPಢ
EXVWLEOHTXHKD\DSRGLGRUHERVDU
 &XLGDGRGHOYHKÞFXOR

&XLGDGRGHOYHKÞFXOR ,QIRUPDFLäQJHQHUDO $WHQFLäQ


$FFHVRULRV\ /RVIDOGRQHVJXDUGDEDUURVSRಢ
PRGLILFDFLRQHVGHO GUÞDQVXIULUGDâRVVLVHWUDQVSRUWD
,QIRUPDFLäQJHQHUDO   HOYHKÞFXORHQXQWUHQRHQXQYHಢ
&RPSUREDFLRQHVGHOYHKÞFXOR     YHKÞFXOR KÞFXORGHUHVFDWH
6XVWLWXFLäQGHERPELOODV   /HUHFRPHQGDPRVHOXVRGHUHSXHVಢ
6LVWHPDHOÚFWULFR   WRV\DFFHVRULRVRULJLQDOHV\SLH]DV ,QPRYLOL]DFLäQGHOYHKÞFXOR
KRPRORJDGDVSRUHOIDEULFDQWHHVSHಢ
+HUUDPLHQWDVGHOYHKÞFXOR   FÞILFDPHQWHSDUDVXWLSRGHYHKÞFXOR ,QPRYLOL]DFLäQGXUDQWHXQ
/ODQWDV\QHXPÒWLFRV   1RSRGHPRVHYDOXDUQLJDUDQWL]DU
RWURVSURGXFWRVDXQTXHFXHQWHQFRQ
SHULRGRGHWLHPSRSURORQJDGR
$UUDQTXHFRQFDEOHV   6LHOYHKÞFXORYDDHVWDULQPRYLOL]DGR
XQDDXWRUL]DFLäQRILFLDORGHRWUDÞQಢ
5HPROFDGR   GXUDQWHYDULRVPHVHV
GROH
&XLGDGRGHODVSHFWR   ࿢ /DYDU\HQFHUDUHOYHKÞFXOR
1RVHGHEHQHIHFWXDUPRGLILFDFLRQHV
HQHOVLVWHPDHOÚFWULFRSRUHMHPSOR ࿢ &RPSUREDUODFHUDSURWHFWRUDHQHO
FDPELRVHQODVXQLGDGHVHOHFWUäQLFDV FRPSDUWLPHQWRGHOPRWRU\ORVEDಢ
GHFRQWURO FKLSWXQLQJ  MRV
࿢ /LPSLDU\FRQVHUYDUODVMXQWDVGH
$WHQFLäQ JRPD
࿢ 5HOOHQHHOGHSäVLWRGHFRPEXVWLEOH
1XQFDUHDOLFHPRGLILFDFLRQHVHQ SRUFRPSOHWR
VXYHKÞFXOR3XHGHQDIHFWDUDODV
SUHVWDFLRQHVODGXUDELOLGDG\OD ࿢ &DPELDUHODFHLWHGHOPRWRU
VHJXULGDGGHOYHKÞFXORHVSRVLEOH ࿢ 9DFLDUHOGHSäVLWRGHOOÞTXLGRGHODಢ
TXHODJDUDQWÞDQRFXEUDORVSURಢ YDGR
EOHPDVFDXVDGRVSRUODVPRGLILಢ
FDFLRQHV
&XLGDGRGHOYHKÞFXOR 

࿢ &RPSUREDUODSURWHFFLäQDQWLFRQಢ 3XHVWDHQVHUYLFLRGHQXHYR &RPSUREDFLRQHVGHO


JHODQWH\DQWLFRUURVLYDGHOUHIULJHಢ 3DUDYROYHUDSRQHUHQVHUYLFLRHOYHಢ
UDQWH KÞFXOR
YHKÞFXOR
࿢ $MXVWDUODSUHVLäQGHORVQHXPÒWLಢ ࿢ (PERUQDUHOSRORQHJDWLYRGHODEDಢ
FRVDOYDORUHVSHFLILFDGRSDUD 5HDOL]DFLäQGHWUDEDMRV
WHUÞDGHOYHKÞFXOR$FWLYDUHOFRQWURO
SOHQDFDUJD HOHFWUäQLFRGHORVHOHYDOXQDVHOÚFಢ
࿢ $SDUFDUHOYHKÞFXORHQXQOXJDU WULFRV
VHFR\ELHQYHQWLODGR(QJUDQDUOD ࿢ &RPSUREDUODSUHVLäQGHORVQHXಢ
SULPHUDRODPDUFKDDWUÒVRSRQHU PÒWLFRV
ODSDODQFDVHOHFWRUDHQ3&DO]DUHO
YHKÞFXORSDUDHYLWDUTXHUXHGH ࿢ 5HOOHQDUHOGHSäVLWRGHOOÞTXLGRGH
ODYDGR
࿢ 1RDFFLRQDUHOIUHQRGHHVWDFLRQDಢ
PLHQWR ࿢ &RPSUREDUHOQLYHOGHDFHLWHGHO
PRWRU
࿢ $EULUHOFDSäFHUUDUWRGDVODVSXHUಢ
WDV\EORTXHDUHOYHKÞFXOR ࿢ &RPSUREDUHOQLYHOGHOUHIULJHUDQWH
࿢ 'HVHPERUQHHOSRORQHJDWLYRGHOD ࿢ 0RQWDUODSODFDGHPDWUÞFXODVL
EDWHUÞDGHOYHKÞFXOR7HQJDHQ IXHUDQHFHVDULR
FXHQWDORVVLVWHPDVTXHQRIXQFLRಢ  $GYHUWHQFLD
QDUÒQFRPRHOVLVWHPDGHDODUPD
DQWLUURER /DVFRPSUREDFLRQHVHQHOFRPಢ
SDUWLPLHQWRGHOPRWRUGHEHQHIHFಢ
WXDUVHFRQHOHQFHQGLGRGHVFRಢ
QHFWDGR
(OYHQWLODGRUGHUHIULJHUDFLäQ
SXHGHIXQFLRQDUDXQTXHHOHQFHQಢ
GLGRHVWÚGHVFRQHFWDGR
 &XLGDGRGHOYHKÞFXOR

 3HOLJUR
(OVLVWHPDGHHQFHQGLGRXWLOL]D
XQDWHQVLäQPX\DOWD1RWRTXH
VXVFRPSRQHQWHV

&DSä
$SHUWXUD

(PSXMHHOJDQFKRGHVHJXULGDGKDFLD )LMHODYDULOODGHDSR\RGHOFDSä
ODL]TXLHUGD\DEUDHOFDSä 6LVHDEUHHOFDSäGXUDQWHXQDSDUDGD
DXWRPÒWLFD $XWRVWRS HOPRWRUYROಢ
 $GYHUWHQFLD YHUÒDDUUDQFDUVHDXWRPÒWLFDPHQWH
SRUPRWLYRVGHVHJXULGDG
&XDQGRHOPRWRUHVWÚFDOLHQWHWRಢ
7HVWLJRGHFRQWURO 
TXHVäORHODFROFKDGRGHHVSXPD
GHODYDULOODGHDSR\RGHOFDSä
&LHUUH
(QWUDGDGHDLUH  $QWHVGHFHUUDUHOFDSäLQVHUWHODYDಢ
ULOODGHDSR\RHQVXDORMDPLHQWR
7LUHGHODSDODQFDGHGHVEORTXHR\ %DMHFDSä\GÚMHORFDHUVREUHHOFLHಢ
GHYXÚOYDODDVXSRVLFLäQRULJLQDO UUH&RPSUXHEHTXHHOFDSäTXHGH
HQFODYDGR
&XLGDGRGHOYHKÞFXOR 

 $GYHUWHQFLD
2EVHUYHVLHPSUHODVSUHFDXFLRಢ
QHVVLJXLHQWHV$QWHVGHFRQGXFLU
HOYHKÞFXORWLUHGHOERUGHGHODQಢ
WHURGHOFDSäSDUDDVHJXUDUVHGH
TXHHVWÚELHQHQFODYDGR
1RWLUHGHODPDQLOODGHGHVEORಢ
TXHRGHOFDSäPLHQWUDVHOYHಢ
KÞFXORHVWÚHQPRYLPLHQWR
1RFRQGX]FDHOYHKÞFXORFRQHO
FDSäDELHUWR(OFDSäDELHUWRREVಢ
WDFXOL]DUÒODYLVLäQGHOFRQGXFWRU
&RQGXFLUHOYHKÞFXORFRQHOFDSä
DELHUWRSXHGHSURYRFDUXQDFROLಢ
VLäQ\RULJLQDUGDâRVHQHOYHಢ
KÞFXORHQRWUDVSURSLHGDGHVOHಢ
VLRQHVSHUVRQDOHVRLQFOXVRIDWDಢ
OHV
 &XLGDGRGHOYHKÞFXOR

9LVWDGHOFRPSDUWLPHQWRGHOPRWRU
0RWRUGHJDVROLQD/8-
&XLGDGRGHOYHKÞFXOR 

0RWRUGHJDVROLQD/'(\+
 &XLGDGRGHOYHKÞFXOR

0RWRUGHJDVROLQD/;7
&XLGDGRGHOYHKÞFXOR 

 'HSäVLWRGHOOÞTXLGRGHODGLUHFಢ /DFRPSUREDFLäQVHUHDOL]DFRQHOYHಢ
FLäQDVLVWLGD  KÞFXORHQXQDVXSHUILFLHQLYHODGD(O
 7DSäQGHODFHLWHGHOPRWRU PRWRUGHEHHVWDUDWHPSHUDWXUDGH
 IXQFLRQDPLHQWR\OOHYDUSDUDGRDOPHಢ
QRVPLQXWRV
 'HSäVLWRGHOOÞTXLGRGHIUHQRV
 ([WUDLJDODYDULOODGHPHGLFLäQOÞPಢ
SLHODHLQVÚUWHODKDVWDHOWRSHGHO
 'HSäVLWRGHOUHIULJHUDQWHGHOPRಢ PDQJRYXHOYDDH[WUDHUOD\FRPಢ
WRU  SUXHEHHOQLYHOGHDFHLWHGHOPRWRU
 &DMDGHIXVLEOHV  ,QVHUWHODYDULOODGHPHGLFLäQKDVWDHO
 'HSäVLWRGHOOÞTXLGRGHODYDGR WRSHGHOPDQJR\JÞUHODPHGLDYXHOWD

 %DWHUÞD  5HOOHQHDFHLWHGHPRWRUFXDQGRHOQLಢ
YHOKD\DGHVFHQGLGRKDVWDODPDUFD
 9DULOODGHPHGLFLäQGHOQLYHOGH 0,1
DFHLWHGHOPRWRU 
 )LOWURGHDLUHGHOPRWRU 

$FHLWHGHOPRWRU
&RPSUXHEHHOQLYHOGHDFHLWHGHOPRಢ
WRUFRQUHJXODULGDGSDUDSUHYHQLUGDಢ
âRVHQHOPRWRU$VHJëUHVHGHTXHVH
XVDHODFHLWHGHODHVSHFLILFDFLäQFRಢ
UUHFWD/ÞTXLGRV\OXEULFDQWHVUHFRಢ 6HXWLOL]DQGLVWLQWRVWLSRVGHYDULOODGH
PHQGDGRV  PHGLFLäQGHODFHLWHVHJëQHOWLSRGH
PRWRU
 &XLGDGRGHOYHKÞFXOR

/HUHFRPHQGDPRVHOXVRGHOPLVPR /DYHODVSDUWHVH[SXHVWDVFRQ )LOWURGHDLUHGHOPRWRU


WLSRGHDFHLWHGHOPRWRUXWLOL]DGRHQHO DJXD\MDEäQRFRQXQSURGXFWRGH
ëOWLPRFDPELR OLPSLH]DSDUDODVPDQRV
(OQLYHOGHDFHLWHGHOPRWRUQRGHEH 7HQJDPXFKRFXLGDGRDOYDFLDUHO
H[FHGHUODPDUFDVXSHULRU0$;GHOD DFHLWHGHOPRWRUSRUTXHSXHGH
YDULOODGHPHGLFLäQ SURGXFLUOHTXHPDGXUDV
$WHQFLäQ
$WHQFLäQ
6LKD\XQH[FHVRGHDFHLWHGHOPRಢ
WRUGHEHYDFLDUVHRDVSLUDUVH $OFRQGXFLUSRUXQDSHQGLHQWH
SXHGHDSDUHFHUHOFäGLJRHQHO
&DSDFLGDGHV  FHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
&RORTXHHOWDSäQFRUUHFWDPHQWH\ WRU 
DSULÚWHOR 6LHOFäGLJRGHVDSDUHFHDOFRQGXಢ 3DUDVXVWLWXLUHOILOWURGHDLUHGHOPRಢ
FLUSRUXQDVXSHUILFLHOODQDQRHV WRUGHVHQURVTXHWRUQLOORV\GHVಢ
PRQWHODFDUFDVDGHOILOWUR
 $GYHUWHQFLD QHFHVDULRHFKDUPÒVDFHLWH

(ODFHLWHGHOPRWRULUULWDODSLHO\VL 5HIULJHUDQWHGHOPRWRU
VHLQJLHUHSXHGHFDXVDUXQDLQಢ 3URFXUHTXHODFRQFHQWUDFLäQGHDQಢ
GLVSRVLFLäQHLQFOXVRSXHGHVHU WLFRQJHODQWHVHDVXILFLHQWH
PRUWDO
0DQWÚQJDVHOHMRVGHODOFDQFHGH $WHQFLäQ
ORVQLâRV
(YLWHXQFRQWDFWRUHSHWLGR\SURಢ 6äORGHEHXWLOL]DUVHDQWLFRQJHಢ
ORQJDGRFRQODSLHO ODQWHKRPRORJDGR
&XLGDGRGHOYHKÞFXOR 

1LYHOGHUHIULJHUDQWH
 $GYHUWHQFLD GHOOÞTXLGRGHOWDSRQGHOGHSäVLWR
RODYDULOODQLTXHHQWUHHQHOGHಢ
$WHQFLäQ 'HMHTXHVHHQIUÞHHOPRWRUDQWHV SäVLWR
GHDEULUHOWDSäQ$EUDHOWDSäQ
8QQLYHOGHUHIULJHUDQWHGHPDಢ FXLGDGRVDPHQWHSDUDTXHHOVLVಢ
VLDGREDMRSXHGHRFDVLRQDUGDâRV WHPDVHGHVSUHVXULFHOHQWDPHQWH
HQHOPRWRU
5HOOHQHFRQXQDPH]FODGHDJXDGHVಢ
PLQHUDOL]DGD\DQWLFRQJHODQWHKRPRಢ
ORJDGRSDUDHOYHKÞFXOR&RORTXHHO
WDSäQ\DSULÚWHORILUPHPHQWH+DJD
FRPSUREDUODFRQFHQWUDFLäQGHDQWLಢ
FRQJHODQWH\VXEVDQDUODFDXVDGHOD
SÚUGLGDGHUHIULJHUDQWHHQXQWDOOHU

/ÞTXLGRGHODGLUHFFLäQ
$EUD\UHWLUHHOWDSäQ6HTXHODYDULOOD
DVLVWLGD GHPHGLFLäQFRQXQSDâR\JLUHHOWDಢ
SäQHQHOGHSäVLWR$EUDGHQXHYRHO
$WHQFLäQ WDSäQ\YHULILTXHHOQLYHOGHOÞTXLGRGH
&RQHOVLVWHPDGHUHIULJHUDFLäQIUÞR ODGLUHFFLäQDVLVWLGD
HOQLYHOGHOUHIULJHUDQWHGHEHHVWDUSRU ,QFOXVRXQDPÞQLPDFDQWLGDGGH
FRQWDPLQDFLäQSXHGHFDXVDUGDಢ (OQLYHOGHOOÞTXLGRGHODGLUHFFLäQ
HQFLPDGHODPDUFDGHODOÞQHDGHOOHಢ DVLVWLGDGHEHHVWDUHQWUHODVPDUFDV
QDGR5HOOHQHVLHOQLYHOHVPÒVEDMR âRVHQHOVLVWHPDGHGLUHFFLäQH
LPSHGLUVXFRUUHFWRIXQFLRQDಢ 0,1\0$;
PLHQWR1RSHUPLWDTXHODVXFLHಢ 6LHOQLYHOGHOÞTXLGRHVGHPDVLDGR
GDGHQWUHHQFRQWDFWRFRQHOODGR EDMRUHFXUUDDODD\XGDGHXQWDOOHU
 &XLGDGRGHOYHKÞFXOR

/ÞTXLGRGHODYDGR ࿢ 1RXWLOLFHDJXDGHOJULIR/RVPLQHಢ /ÞTXLGRGHIUHQRV


UDOHVSUHVHQWHVHQHODJXDGHOJULIR
SXHGHQWDSRQDUODVFRQGXFFLRQHV
 $GYHUWHQFLD
GHOODYDSDUDEULVDV
࿢ 6LODWHPSHUDWXUDGHODLUHSXHGH (OOÞTXLGRGHIUHQRVHVWä[LFR\FRಢ
GHVFHQGHUGHOSXQWRGHFRQJHODಢ UURVLYR(YLWHVXFRQWDFWRFRQORV
FLäQXWLOLFHOÞTXLGRSDUDHOODYDSDಢ RMRVODSLHOODURSDRVXSHUILFLHV
UDEULVDVFRQVXILFLHQWHFRQWHQLGR SLQWDGDV
GHDQWLFRQJHODQWH

)UHQRV
6LODVSDVWLOODVGHIUHQRKDQDOFDQಢ
]DGRVXJURVRUPÞQLPRVHHVFXFKDUÒ
/OHQHHOGHSäVLWRFRQDJXDOLPSLD XQFKLUULGRDOIUHQDURHQDOJXQDVYHUಢ
PH]FODGDFRQXQDFDQWLGDGDGHಢ VLRQHVVHHQFLHQGHJ
FXDGDGHOLPSLDFULVWDOHV\DQWLFRQJHಢ 6HSXHGHFRQWLQXDUFRQGXFLHQGR
ODQWH SHURKDJDVXVWLWXLUODVSDVWLOODVGHIUHಢ
3DUDUHOOHQDUHOGHSäVLWRGHOOÞTXLGR QRVORDQWHVSRVLEOH
GHODYDGRGHOSDUDEULVDV 8QDYH]PRQWDGDVODVSDVWLOODVGH
࿢ 8WLOLFHVäOROÞTXLGRGHODYDGROLVWR IUHQRQXHYDVQRIUHQHDIRQGRLQQHಢ
SDUDXVDUGLVSRQLEOHHQFRPHUFLRV FHVDULDPHQWHGXUDQWHORVSULPHURV (OQLYHOGHOOÞTXLGRGHIUHQRVGHEHHVಢ
YLDMHV WDUHQWUHODVPDUFDV0,1\0$;
&XLGDGRGHOYHKÞFXOR 

$OUHOOHQDUGHEHDVHJXUDUVHODPÒಢ /DLQPRYLOL]DFLäQGHOYHKÞFXORGXಢ 0DQWÚQJDVHOHMRVGHODOFDQFHGH


[LPDOLPSLH]D\DTXHODFRQWDPLQDಢ UDQWHPÒVGHVHPDQDVSXHGHRFDಢ ORVQLâRV
FLäQGHOOÞTXLGRGHIUHQRVSXHGHRFDಢ VLRQDUODGHVFDUJDGHODEDWHUÞD'HVಢ
VLRQDUIDOORVHQHOVLVWHPDGHIUHQRV HPERUQHHOSRORQHJDWLYRGHODEDWHಢ 1RLQFOLQHXQDEDWHUÞDDELHUWD
+DJDVXEVDQDUODFDXVDGHODSÚUGLGD UÞDGHOYHKÞFXOR
GHOÞTXLGRGHIUHQRVHQXQWDOOHU 3URWHFFLäQFRQWUDGHVFDUJDGHODEDಢ
6äORVHGHEHHPERUQDURGHVHPERUಢ WHUÞD 
8WLOLFHVäOROÞTXLGRGHIUHQRVGHDOWR QDUODEDWHUÞDFRQHOHQFHQGLGRGHVಢ
UHQGLPLHQWRKRPRORJDGRSDUDVXYHಢ FRQHFWDGR 6XVWLWXFLäQGHODEDWHUÞD
KÞFXOR/ÞTXLGRGHIUHQRV\HPEUDJXH
  $GYHUWHQFLD 1RWD
&XDOTXLHUGHVYLDFLäQGHODVSUHVHQಢ
3DUDHYLWDUH[SORVLRQHVPDQಢ WHVLQVWUXFFLRQHVSXHGHRFDVLRQDU
%DWHUÞD WHQJDDOHMDGRGHODEDWHUÞDFXDOಢ XQDGHVDFWLYDFLäQWHPSRUDOGHOVLVಢ
/RVYHKÞFXORVVLQVLVWHPDVWRSVWDUW TXLHUPDWHULDOLQFDQGHVFHQWH/D WHPDVWRSVWDUW
YHQGUÒQHTXLSDGRVFRQXQDEDWHUÞD H[SORVLäQGHODEDWHUÞDSXHGHRFDಢ $OVXVWLWXLUODEDWHUÞDDVHJëUHVHGH
GHSORPRÒFLGR/RVYHKÞFXORVFRQ VLRQDUOHVLRQHVJUDYHVRIDWDOHV\ TXHQRKD\DRULILFLRVGHYHQWLODFLäQ
VLVWHPDVWRSVWDUWYHQGUÒQHTXLSDಢ GDâRVHQHOYHKÞFXOR DELHUWRVFHUFDGHOERUQHSRVLWLYR6L
GRVFRQXQDEDWHUÞD$*0TXHQRHV KD\XQRULILFLRGHYHQWLODFLäQDELHUWR
(YLWHVXFRQWDFWRFRQORVRMRVOD
XQDEDWHUÞDGHSORPRÒFLGR/DEDWHಢ HQHVWD]RQDGHEHFHUUDUVHFRQXQ
SLHOODURSDRVXSHUILFLHVSLQWDGDV
UÞDGHOYHKÞFXORQRUHTXLHUHPDQWHQLಢ WDSäQFLHJR\DEULUVHODYHQWLODFLäQ
(OOÞTXLGRFRQWLHQHÒFLGRVXOIëULFR
PLHQWR FHUFDGHOERUQHQHJDWLYR
TXHSXHGHRFDVLRQDUOHVLRQHV\
/DVSLODVQRGHEHQDUURMDUVHDODEDಢ GDâRVHQFDVRGHFRQWDFWRGLUHFWR 6RORGHEHQXWLOL]DUVHEDWHUÞDVTXH
VXUDGRPÚVWLFD'HEHQGHVHFKDUVH FRQHOPLVPR(QFDVRGHFRQWDFWR SHUPLWDQODILMDFLäQGHODFDMDGHIXVLಢ
HQXQSXQWRGHUHFRJLGDDXWRUL]DGR FRQODSLHOODYHOD]RQDFRQDJXD EOHVHQFLPDGHODEDWHUÞD
SDUDVXUHFLFODMH \DFXGDLQPHGLDWDPHQWHDOPÚಢ
(QYHKÞFXORVFRQVLVWHPDVWRSVWDUW
GLFR
DVHJëUHVHGHTXHVXVWLWX\HODEDWHUÞD
$*0 $EVRUSWLYH*ODVV0DW SRURWUD
EDWHUÞD$*0
 &XLGDGRGHOYHKÞFXOR

/DVEDWHUÞDV$*0VHSXHGHQLGHQWLಢ (WLTXHWDGHDGYHUWHQFLD ࿢ 9HDHOPDQXDOGHLQVWUXFFLRQHV


ILFDUSRUHOWÚUPLQR$*0HQODHWLಢ SDUDREWHQHUPÒVLQIRUPDFLäQ
TXHWDHQODEDWHUÞD/HUHFRPHQGDಢ ࿢ 3XHGHKDEHUJDVH[SORVLYRFHUFD
PRVHOXVRGHXQDEDWHUÞDRULJLQDO GHODEDWHUÞDGHOYHKÞFXOR
&KHYUROHW
1RWD 3XUJDGHOVLVWHPDGH
(OXVRGHXQDEDWHUÞD$*0GLVWLQWD
GHODEDWHUÞDRULJLQDO&KHYUROHW FRPEXVWLEOHGLÚVHO
SXHGHPHQRVFDEDUHOUHQGLPLHQWR 6LVHKDDJRWDGRHOGHSäVLWRKD\TXH
GHOVLVWHPDVWRSVWDUW SXUJDUHOVLVWHPDGHFRPEXVWLEOHGLÚಢ
/HUHFRPHQGDPRVTXHDFXGDDXQ VHOVREUHXQDVXSHUILFLHQLYHODGD\
WDOOHUSDUDVXVWLWXLUODEDWHUÞD GHVSXÚVGHUHSRVWDUDOPHQRVOLಢ
WURV&RQHFWHHOHQFHQGLGRWUHVYHFHV
6LVWHPDVWRSVWDUW  GXUDQWHXQRVVHJXQGRVFDGDYH]
6LJQLILFDGRGHORVVÞPERORV /XHJRLQWHQWHDUUDQFDUHOPRWRUGXಢ
&DUJDGHODEDWHUÞD ࿢ 1RDFHUFDUDFKLVSDVOODPDVVLQ UDQWHXQPÒ[LPRGHVHJXQGRV
SURWHFFLäQQLKXPR 5HSLWDHVWHSURFHVRGHVSXÚVGHHVಢ
 $GYHUWHQFLD SHUDUXQPÞQLPRGHVHJXQGRV6LQR
࿢ 3URWHJHUVLHPSUHORVRMRV/RVJDಢ
VHVH[SORVLYRVSXHGHQSURGXFLUFHಢ FRQVLJXHDUUDQFDUHOPRWRUUHFXUUDD
(QYHKÞFXORVFRQVLVWHPDVWRS ODD\XGDGHXQWDOOHU
VWDUWDVHJëUHVHGHTXHHOSRWHQಢ JXHUDROHVLRQHV
FLDOGHFDUJDQRVXSHUHORV ࿢ 0DQWHQJDODEDWHUÞDGHOYHKÞFXOR
9VLXWLOL]DXQFDUJDGRUGHEDಢ OHMRVGHODOFDQFHGHORVQLâRV
WHUÞDV(QFDVRFRQWUDULRODEDWHಢ ࿢ /DEDWHUÞDFRQWLHQHÒFLGRVXOIëULFR
UÞDSRGUÞDVXIULUGDâRV TXHSXHGHSURYRFDUFHJXHUDR
TXHPDGXUDVJUDYHV
$UUDQTXHFRQFDEOHV 
&XLGDGRGHOYHKÞFXOR 

6XVWLWXFLäQGHODV /DSUHVHQFLDGHPDWHULDOH[WUDâRHQ (VFRELOODGHODOXQHWDWUDVHUD


HOSDUDEULVDVRHQODVHVFRELOODV
HVFRELOODV SXHGHUHGXFLUODHILFDFLDGHORVOLPಢ
SLDSDUDEULVDV6LODVHVFRELOODVQR
OLPSLDQFRUUHFWDPHQWHOLPSLHHOSDಢ
UDEULVDV\ODVHVFRELOODVFRQXQEXHQ
SURGXFWRGHOLPSLH]DRGHWHUJHQWH
VXDYH(QMXÒJXHORVELHQFRQDJXD
5HSLWDHOSURFHVRVLIXHUDQHFHVDULR
/RVUHVWRVGHVLOLFRQDQRSXHGHQHOLಢ
PLQDUVHGHOFULVWDO3RUWDQWRQRDSOLಢ
TXHQXQFDDEULOODQWDGRUFRQVLOLFRQD
DOSDUDEULVDVGHOYHKÞFXOR\DTXHVH
IRUPDUÞDQUD\DVTXHREVWDFXOL]DUÞDQ
ODYLVLäQGHOFRQGXFWRU /HYDQWHHOEUD]RGHOOLPSLDOXQHWD
1RXWLOLFHGLVROYHQWHVJDVROLQDTXHಢ 'HVDFRSOHODHVFRELOODFRPRVH
/HYDQWHHOEUD]RGHOOLPSLDOXQHWD PXHVWUDHQODLOXVWUDFLäQ\GHVPäQಢ
0XHYDODSDODQFDGHGHVEORTXHR\ URVHQRRGLOX\HQWHGHSLQWXUDSDUD
OLPSLDUORVOLPSLDSDUDEULVDV(VWRV WHOD
GHVDFRSOHODHVFRELOOD
SURGXFWRVVRQPX\IXHUWHV\SRGUÞDQ $FRSOHODHVFRELOODOLJHUDPHQWHLQFOLಢ
(OIXQFLRQDPLHQWRFRUUHFWRGHORVOLPಢ GDâDUODVHVFRELOODV\ODVVXSHUILFLHV QDGDUHVSHFWRDOEUD]RGHOOLPSLDSDಢ
SLDSDUDEULVDVHVHVHQFLDOSDUDXQD SLQWDGDV UDEULVDV\HPSëMHODKDVWDTXHHQಢ
YLVLELOLGDGFODUD\XQDFRQGXFFLäQVHಢ FDMH
JXUD&RPSUXHEHUHJXODUPHQWHHOHVಢ
WDGRGHODVHVFRELOODVGHORVOLPSLDಢ %DMHHOEUD]RGHOOLPSLDSDUDEULVDV
SDUDEULVDV6XVWLWX\DODVHVFRELOODV FXLGDGRVDPHQWH
TXHHVWÚQGXUDVUHVTXHEUDMDGDVR
DJULHWDGDVRDTXHOODVTXHHQVXFLHQ
HOSDUDEULVDV
 &XLGDGRGHOYHKÞFXOR

6XVWLWXFLäQGH (VXQSUREOHPDVLPLODUDODFRQGHQಢ
VDFLäQHQHOLQWHULRUGHODVYHQWDQLಢ
ERPELOODV OODVGHOYHKÞFXORPLHQWUDVOOXHYH\QR
LQGLFDQLQJëQSUREOHPDFRQHOYHಢ
'HVFRQHFWHHOHQFHQGLGR\HOLQWHಢ KÞFXOR
UUXSWRUFRUUHVSRQGLHQWHRFLHUUHODV 6LHQWUDDJXDHQORVFLUFXLWRVGHODV
SXHUWDV ERPELOODVKDJDUHYLVDUHOYHKÞFXOR
8QDERPELOODQXHYDVäORVHGHEHVXಢ HQXQWDOOHU
MHWDUSRUODEDVH1RWRTXHHOFULVWDO
GHODERPELOODFRQODVPDQRVGHVQXಢ )DURVKDOäJHQRV
GDV
8WLOLFHVäORHOPLVPRWLSRGHERPELOOD /X]GHFUXFH\OX]GHFDUUHWHUD
SDUDODVXVWLWXFLäQ  'HVHQFKXIHHOFRQHFWRUGHOD  3UHVLRQHHOFOLSHOÒVWLFRGHVHQಢ
6XVWLWX\DODVERPELOODVGHORVIDURV ERPELOOD FODYH\EDVFëOHODKDFLDDUULED
GHVGHHOFRPSDUWLPHQWRGHOPRWRU
1RWD
'HVSXÚVGHFRQGXFLUEDMRODOOXYLDR
GHODYDUHOYHKÞFXORODVOHQWHVGHORV
IDURV\ODVOXFHVWUDVHUDVSRGUÞDQ
HPSDâDUVH
(VWRVHGHEHDODGLIHUHQFLDGHWHPಢ
SHUDWXUDHQWUHHOLQWHULRU\HOH[WHULRU
GHODOÒPSDUD

 'HVPRQWHODWDSDSURWHFWRUD  ([WUDLJDODERPELOODGHODFDMDGHO
UHIOHFWRU
&XLGDGRGHOYHKÞFXOR 

 &XDQGRPRQWHODQXHYDERPELOOD  ,QVHUWHODERPELOODQXHYD
LQVHUWHODVOHQJíHWDVHQORVUHEDಢ  ,QVHUWHHOSRUWDOÒPSDUDVHQHOUHಢ
MHVGHOUHIOHFWRU IOHFWRU
 (QFODYHHOFOLSHOÒVWLFR  &RORTXHODWDSDSURWHFWRUDGHO
 &RORTXHODWDSDSURWHFWRUDGHO IDURHQVXSRVLFLäQ\FLÚUUHOD
IDURHQVXSRVLFLäQ\FLÚUUHOD  (QFKXIHHOFRQHFWRUHQODERPELಢ
 (QFKXIHHOFRQHFWRUHQODERPELಢ OOD
OOD
,QWHUPLWHQWHVGHODQWHURV
/XFHVODWHUDOHV
 'HVHQFKXIHHOFRQHFWRUGHOD
ERPELOOD  'HVPRQWHHOSRUWDOÒPSDUDVGHOD
OX]ODWHUDOGHOUHIOHFWRU

 *LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR\GHVHQFOÒYHOR

 'HVPRQWHODWDSDSURWHFWRUD
 'HVPRQWHODERPELOODGHOFDVTXLಢ
OOR
 &XLGDGRGHOYHKÞFXOR

/XFHVWUDVHUDV
SXHUWDV

 3UHVLRQHOLJHUDPHQWHODERPELOOD  'HVHQURVTXHORVGRVWRUQLOORV
HQHOFDVTXLOORJÞUHODHQVHQWLGR
DQWLKRUDULRVÒTXHOD\VXVWLWX\DOD
ERPELOOD
 ,QVHUWHHOSRUWDOÒPSDUDVHQHOUHಢ  $EUDODVGRVWDSDV
IOHFWRU\JÞUHORHQVHQWLGRKRUDULR
SDUDHQFODYDUOR

/XFHVDQWLQLHEOD
+DJDFDPELDUODVERPELOODVHQXQWDಢ
OOHU
&XLGDGRGHOYHKÞFXOR 

 'HVPRQWHHOJUXSRäSWLFRWUDVHUR  'HVPRQWHHOSRUWDOÒPSDUDV3UHಢ
$VHJëUHVHGHTXHHOFRQGXFWRGH VLRQHOLJHUDPHQWHODERPELOODHQ
FDEOHVSHUPDQH]FDHQVXSRVLಢ HOFDVTXLOORJÞUHODHQVHQWLGRDQಢ
FLäQ WLKRUDULRVÒTXHOD\VXVWLWX\DOD
ERPELOOD
 ,QVHUWHHOSRUWDOÒPSDUDVHQHO
JUXSRäSWLFRWUDVHUR\DWRUQÞOOHOR
HQVXSRVLFLäQ&RQHFWHHOHQಢ
FKXIHGHOFDEOHDGR0RQWHHO
JUXSRäSWLFRWUDVHURHQODFDUURಢ
FHUÞD\DSULHWHORVWRUQLOORV&LHUUH
\HQFODYHODVWDSDV
 *LUHHOSRUWDOÒPSDUDVHQVHQWLGR  &RQHFWHHOHQFHQGLGRHQFLHQGD\
DQWLKRUDULR FRPSUXHEHWRGDVODVOXFHV
*UXSRäSWLFRGHOSRUWäQWUDVHUR
 /X]GHPDUFKDDWUÒV  3LORWRDQWLQLHEODOX]GHPDUFKD
DWUÒVGHSHQGLHQGRGHOODGR
,QWHUPLWHQWH 
/X]WUDVHUDOX]GHIUHQR 
 &XLGDGRGHOYHKÞFXOR

 'HVPRQWHHOSRUWDOÒPSDUDV3UHಢ
VLRQHOLJHUDPHQWHODERPELOODHQ
HOFDVTXLOORJÞUHODHQVHQWLGRDQಢ
WLKRUDULRVÒTXHOD\VXVWLWX\DOD
ERPELOOD
 ,QVHUWHHOSRUWDOÒPSDUDVHQOD
WDSDGHOPDOHWHUR9XHOYDDFRORಢ
FDUHOUHYHVWLPLHQWRLQWHULRUHQOD
WDSDGHOPDOHWHUR
 &RQHFWHHOHQFHQGLGRHQFLHQGD\
FRPSUXHEHODVOXFHV

 5HWLUHHOUHYHVWLPLHQWRGHODWDSD 9HUVLäQSXHUWDV  'HVDWRUQLOOHORVWUHVWRUQLOORV


GHOPDOHWHUR
 *LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR

 $EUDODVWUHVFXELHUWDV
&XLGDGRGHOYHKÞFXOR 

 'HVPRQWHHOJUXSRäSWLFRWUDVHUR  'HVPRQWHHOSRUWDOÒPSDUDV3UHಢ
$VHJëUHVHGHTXHHOFRQGXFWRGH VLRQHOLJHUDPHQWHODERPELOODHQ
FDEOHVSHUPDQH]FDHQVXSRVLಢ HOFDVTXLOORJÞUHODHQVHQWLGRDQಢ
FLäQ WLKRUDULRVÒTXHOD\VXVWLWX\DOD
ERPELOOD
 ,QVHUWHHOSRUWDOÒPSDUDVHQHO
JUXSRäSWLFRWUDVHUR\DWRUQÞOOHOR
HQVXSRVLFLäQ&RQHFWHHOHQಢ
FKXIHGHOFDEOHDGR0RQWHHO
JUXSRäSWLFRWUDVHURHQODFDUURಢ
FHUÞD\DSULHWHORVWRUQLOORV&LHUUH
\HQFODYHODVWDSDV
 *LUHHOSRUWDOÒPSDUDVHQVHQWLGR  &RQHFWHHOHQFHQGLGRHQFLHQGD\
DQWLKRUDULR FRPSUXHEHWRGDVODVOXFHV
/X]GHPDUFKDDWUÒV
 ,QWHUPLWHQWH  +DJDFDPELDUODERPELOODHQXQWDOOHU
/X]WUDVHUDOX]GHIUHQR  3LORWRDQWLQLHEOD
+DJDFDPELDUODERPELOODHQXQWDOOHU
 &XLGDGRGHOYHKÞFXOR

6WDWLRQ:DJRQ  ,QWHUPLWHQWH 
/X]WUDVHUDOX]GHIUHQR 

 'HVPRQWHHOJUXSRäSWLFRWUDVHUR
$VHJëUHVHGHTXHHOFRQGXFWRGH
 $EUDODVGRVWDSDV FDEOHVSHUPDQH]FDHQVXSRVLಢ
FLäQ  *LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR

 'HVHQURVTXHORVGRVWRUQLOORV
&XLGDGRGHOYHKÞFXOR 

 'HVPRQWHHOSRUWDOÒPSDUDV3UHಢ  $EUDHOSRUWäQWUDVHUR\GHVPRQWH  ,QVHUWHHOSRUWDOÒPSDUDV\JÞUHOR


VLRQHOLJHUDPHQWHODERPELOODHQ ODWDSDHQHOODGRFRUUHVSRQಢ HQVHQWLGRKRUDULR&RORTXHOD
HOFDVTXLOORJÞUHODHQVHQWLGRDQಢ GLHQWH WDSD
WLKRUDULRVÒTXHOD\VXVWLWX\DOD  &RQHFWHHOHQFHQGLGRHQFLHQGD\
ERPELOOD FRPSUXHEHODVOXFHV
 ,QVHUWHHOSRUWDOÒPSDUDVHQHO
JUXSRäSWLFRWUDVHUR\DWRUQÞOOHOR
HQVXSRVLFLäQ0RQWHHOJUXSR
,QWHUPLWHQWHVODWHUDOHV
äSWLFRWUDVHURHQODFDUURFHUÞD\  (PSXMHODOX]KDFLDODSDUWHSRVಢ
DSULHWHORVWRUQLOORV&LHUUH\HQಢ WHULRUGHOYHKÞFXOR\GHVPäQWHOD
FODYHODVWDSDV  *LUHHOSRUWDOÒPSDUDVHQVHQWLGR
 &RQHFWHHOHQFHQGLGRHQFLHQGD\ DQWLKRUDULR
FRPSUXHEHWRGDVODVOXFHV  ([WUDLJDODERPELOODGHOSRUWDOÒPಢ
*UXSRäSWLFRGHOSRUWäQWUDVHUR SDUDV\FÒPELHOD
 9XHOYDDPRQWDUHQRUGHQLQಢ
 'HVPRQWHHOSRUWDOÒPSDUDVJLಢ
YHUVR
UÒQGRORHQVHQWLGRDQWLKRUDULR
3DUDVXVWLWXLUODERPELOODSUHಢ
VLRQHOLJHUDPHQWHVREUHHOODHQHO
FDVTXLOOR\JÞUHODHQVHQWLGRDQWLಢ
KRUDULR
3LORWRDQWLQLHEODOX]GHPDUFKD
DWUÒV  GHSHQGLHQGRGHOODGR
/X]WUDVHUD  
 &XLGDGRGHOYHKÞFXOR

/X]GHODPDWUÞFXOD SXHUWDV6WDWLRQ:DJRQ

SXHUWDV

 ([WUDLJDODFDMDGHODERPELOODKDಢ
FLDDEDMRVLQWLUDUGHOFDEOH
 ,QVHUWHXQGHVWRUQLOODGRUHQSRVLಢ
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR FLäQYHUWLFDOHQHOSRUWDOÒPSDUDV
DQWLKRUDULRSDUDGHVHQFODYDU SUHVLRQHKDFLDXQODGR\GHVEORಢ
 'HVHQURVTXHORVGRVWRUQLOORV
 'HVPRQWHODERPELOODGHOSRUWDಢ TXHHHOPXHOOH
OÒPSDUDV\VXVWLWX\DODERPELOOD  ([WUDLJDODFDMDGHODERPELOODKDಢ
 ,QVHUWHHOSRUWDOÒPSDUDVHQOD FLDDEDMRVLQWLUDUGHOFDEOH
FDMD\JÞUHORHQVHQWLGRKRUDULR
 ,QVHUWHODFDMDGHODERPELOOD\IÞಢ
MHODXVDQGRXQGHVWRUQLOODGRU
&XLGDGRGHOYHKÞFXOR 

/X]GHOFRPSDUWLPHQWRGHFDUJD  3UHVLRQHOLJHUDPHQWHODERPELOOD
KDFLDHOFOLSHOÒVWLFR\VÒTXHOD
 ,QVHUWHODERPELOODQXHYD
 0RQWHODOÒPSDUD

,OXPLQDFLäQGHOWDEOHURGH
LQVWUXPHQWRV
+DJDFDPELDUODVERPELOODVHQXQWDಢ
OOHU

 *LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULRSDUDGHVHQFODYDU
 'HVPRQWHODERPELOODGHOSRUWDಢ  ([WUDLJDODOÒPSDUDKDFLHQGRSDಢ
OÒPSDUDV\VXVWLWX\DODERPELOOD ODQFDFRQXQGHVWRUQLOODGRU
 ,QVHUWHHOSRUWDOÒPSDUDVHQOD
FDMD\JÞUHORHQVHQWLGRKRUDULR
 ,QVHUWH\HQFODYHODFDMDGHOD
ERPELOOD

/XFHVLQWHULRUHV
/X]GHFRUWHVÞDOXFHVGHOHFWXUD
+DJDFDPELDUODVERPELOODVHQXQWDಢ
OOHU
 &XLGDGRGHOYHKÞFXOR

6LVWHPDHOÚFWULFR $OJXQDVIXQFLRQHVSXHGHQHVWDUSURಢ
WHJLGDVSRUYDULRVIXVLEOHV
)XVLEOHV 3XHGHKDEHUIXVLEOHVLQVHUWDGRVVLQ
TXHODIXQFLäQHVWÚGLVSRQLEOHHQHO
(OIXVLEOHGHUHSXHVWRGHEHWHQHUOD YHKÞFXOR
PLVPDHVSHFLILFDFLäQTXHHOIXVLEOH
GHIHFWXRVR
+D\GRVFDMDVGHIXVLEOHVHQHOYHಢ
KÞFXOR
࿢ HQODSDUWHGHODQWHUDL]TXLHUGDGHO
FRPSDUWLPHQWRGHOPRWRU
࿢ HQHOLQWHULRUGHWUÒVGHOFRPSDUWLಢ
PHQWRSRUWDREMHWRVRHQORVYHKÞಢ ([WUDFWRUGHIXVLEOHV
FXORVFRQYRODQWHDODGHUHFKDGHಢ
3XHGHKDEHUXQH[WUDFWRUGHIXVLEOHV
WUÒVGHODJXDQWHUD
HQODFDMDGHIXVLEOHVGHOFRPSDUWLಢ
(QXQDFDMDHQFLPDGHOERUQHSRVLಢ PHQWRGHOPRWRU
WLYRGHODEDWHUÞDKD\DOJXQRVIXVLಢ
EOHVSULQFLSDOHV6LIXHUDQHFHVDULR
KÒJDORVFDPELDUHQXQWDOOHU
$QWHVGHVXVWLWXLUXQIXVLEOHGHVFRಢ
QHFWHHOLQWHUUXSWRUFRUUHVSRQGLHQWH\
HOHQFHQGLGR
8QIXVLEOHGHIHFWXRVRSXHGHUHFRQRಢ
FHUVHSRUTXHHOKLORHVWÒIXQGLGR1R
VXVWLWX\DHOIXVLEOHKDVWDTXHVHVXEಢ
VDQHODFDXVDGHODDYHUÞD
&XLGDGRGHOYHKÞFXOR 

&DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHOPRWRU

&RORTXHHOH[WUDFWRUGHIXVLEOHVHQOD
SDUWHVXSHULRURODWHUDOGHOIXVLEOHFRಢ
UUHVSRQGLHQWH\H[WUÒLJDOR
/DFDMDGHIXVLEOHVHVWÒHQODSDUWH
GHODQWHUDL]TXLHUGDGHOFRPSDUWLಢ
PHQWRGHOPRWRU
'HVHQFODYHODWDSDOHYÒQWHOD\UHWÞಢ
UHOD
(VSRVLEOHTXHWRGDVODVGHVFULSFLRಢ
QHVGHODVFDMDVGHIXVLEOHVHQHOPDಢ
QXDOQRVHDQDSOLFDEOHVDVXYHKÞFXOR
6HFRUUHVSRQGHQILHOPHQWHDODIHFKD
GHLPSUHVLäQ&XDQGRFRPSUXHEHOD
FDMDGHIXVLEOHVFRQVXOWHODHWLTXHWD
GHODPLVPD
 &XLGDGRGHOYHKÞFXOR

1« &LUFXLWR 1« &LUFXLWR


 0äGXORGHFRQWUROGHOFDPELR  ಥ
 0äGXORGHFRQWUROGHOPRWRU  (QFHQGLGRVHQVRUGHFDOLGDG
GHODLUH
 ಥ
 (QFHQGLGRDLUEDJ
 6ROHQRLGHGHYHQWLODFLäQGHO
FÒQLVWHU  0äGXORGHFRQWUROGHOFRPEXVಢ
WLEOH
 (OHQFHQGLGR
 ಥ
 /LPSLDSDUDEULVDV
 %RPEDGHFRPEXVWLEOH
 ಥ
 (OHYDOXQDVHOÚFWULFRVWUDVHURV
 ,Q\HFFLäQGHFRPEXVWLEOH
 ಥ
 ,Q\HFFLäQGHFRPEXVWLEOH
VLVWHPDGHHQFHQGLGR  ಥ
 0äGXORGHFRQWUROGHOPRWRU  (OHYDOXQDVHOÚFWULFRVGHODQಢ
WHURV
 6RQGDODPEGD
 %RPEDGHYDFÞRHOHFWUäQLFD
 6ROHQRLGHGHOPRWRUGH
DUUDQTXH  $%6
 6ROHQRLGHGHYHQWLODFLäQGHO  6LVWHPDGHOODYHHOHFWUäQLFD
FÒQLVWHU
 /XQHWDWÚUPLFDWUDVHUD
 ಥ
 ಥ
&XLGDGRGHOYHKÞFXOR 

1« &LUFXLWR 1« &LUFXLWR 1« &LUFXLWR


 $%6  9HQWLODGRUGHUHIULJHUDFLäQ  5HWURYLVRUHVWÚUPLFRV
 0äGXORGHFRQWUROGHODFDUURಢ  9HQWLODGRUGHUHIULJHUDFLäQ  5HWURYLVRUHVWÚUPLFRV
FHUÞD
 6RQGDODPEGD  $LUHDFRQGLFLRQDGR
 0äGXORGHFRQWUROGHODFDUURಢ
FHUÞD  /XFHVDQWLQLHEOD  6HQVRUGHOXQHWDWUDVHUD

 ಥ  ಥ  6HQVRUGHFDOLGDGGHODLUH

 7HFKRVRODU  ಥ  3LORWRDQWLQLHEOD

 6LVWHPDGHLQIRHQWUHWHQLPLHQWR  %RFLQD  ಥ
DPSOLILFDGRU  7DEOHURGHLQVWUXPHQWRV  0äGXORGHFRQWUROGHOVLVWHPD
 ಥ GHFRPEXVWLEOH
 (VSHMRHOHFWURFURPÒWLFR
 /X]GHFDUUHWHUDODGRGHUHFKR  ಥ
 &RQPXWDGRUGHODVOXFHV
 /X]GHFDUUHWHUDODGRL]TXLHUGR FRQWUROGHODVOXFHV  6HQVRUGHWHQVLäQGHODEDWHUÞD

 ಥ  3OHJDGRGHORVUHWURYLVRUHV  6HQVRUGHOOXYLD

 ಥ  /DYDSDUDEULVDV  ಥ

 ಥ  %ORTXHRGHODFROXPQDGHOD
GLUHFFLäQ
 9HQWLODGRUGHUHIULJHUDFLäQ
 ಥ
 ಥ
 &DOHIDFFLäQGHFRPEXVWLEOH
 ಥ GLÚVHO
 &XLGDGRGHOYHKÞFXOR

&DMDGHIXVLEOHVGHOWDEOHUR
GHLQVWUXPHQWRV

 'HVPRQWHHOFRPSDUWLPHQWRPHಢ (QORVYHKÞFXORVFRQYRODQWHDODGHಢ
GLDQWHODVGRVUDQXUDVHQODGLUHFಢ UHFKDODFDMDGHIXVLEOHVHVWÒVLWXDGD
FLäQGHODVIOHFKDV GHWUÒVGHXQDWDSDHQODJXDQWHUD
/DFDMDGHIXVLEOHVHVWÒGHWUÒVGHO 9XHOYDDPRQWDUHOFRPSDUWLPHQWRHQ $EUDODJXDQWHUD\GHVPRQWHODWDSD
FRPSDUWLPHQWRSRUWDREMHWRVHQHOWDಢ RUGHQLQYHUVR (VSRVLEOHTXHWRGDVODVGHVFULSFLRಢ
EOHURGHLQVWUXPHQWRV QHVGHODVFDMDVGHIXVLEOHVHQHOPDಢ
 $EUDHOFRPSDUWLPHQWR QXDOQRVHDQDSOLFDEOHVDVXYHKÞFXOR
6HFRUUHVSRQGHQILHOPHQWHDODIHFKD
 'HVPRQWHODSDUWHLQIHULRUGHO GHLPSUHVLäQ&XDQGRFRPSUXHEHOD
FRPSDUWLPHQWRHQODGLUHFFLäQGH FDMDGHIXVLEOHVFRQVXOWHODHWLTXHWD
ODVIOHFKDV GHODPLVPD
&XLGDGRGHOYHKÞFXOR 

1« &LUFXLWR 1« &LUFXLWR


 7RPDGHFRUULHQWH  &XDGURGHLQVWUXPHQWRV
 0äGXORGHFRQWUROGHODFDUURಢ  (QFHQGLGRVLVWHPDGHOODYH
FHUÞD HOHFWUäQLFD
 0äGXORGHFRQWUROGHODFDUURಢ  0äGXORGHFRQWUROGHODFDUURಢ
FHUÞD FHUÞD
 0äGXORGHFRQWUROGHODFDUURಢ  0äGXORGHFRQWUROGHODFDUURಢ
FHUÞD FHUÞD
 9HQWLODGRUGHOKDELWÒFXOR  %ORTXHRGHODFROXPQDGHOD
GLUHFFLäQ
1« &LUFXLWR  ಥ
 ಥ
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR  ಥ
WHOÚIRQRGHPDQRVOLEUHV  &RQHFWRUGHGLDJQRVLV
 ಥ  $LUEDJ
 8QLGDGGHFRQWUROGHODFDUURಢ  &LHUUHFHQWUDOL]DGRSRUWäQ
FHUÞD WUDVHUR
 6LVWHPDGHLQIRHQWUHWHQLPLHQWR  $LUHDFRQGLFLRQDGR
 3DQWDOODGHLQIRUPDFLäQDVLVಢ  ಥ
WHQWHGHDSDUFDPLHQWRVLUHQD
GHDODUPD  3DODQFDGHFDPELRV
 (QFHQGHGRUGHFLJDUULOORV  ಥ
 &XLGDGRGHOYHKÞFXOR

+HUUDPLHQWDVGHO 9HKÞFXORVFRQUXHGDGH /ODQWDV\QHXPÒWLFRV


YHKÞFXOR UHSXHVWR
(VWDGRGHORVQHXPÒWLFRV
+HUUDPLHQWDV HVWDGRGHODVOODQWDV
&RQGX]FDOHQWDPHQWHVREUHORVERUಢ
9HKÞFXORVFRQMXHJRGH GLOORV\VLHVSRVLEOHHQÒQJXORUHFWR
UHSDUDFLäQGHQHXPÒWLFRV 5RGDUVREUHVXSHUILFLHVFRQERUGHV
DJXGRVSXHGHGDâDUORVQHXPÒWLFRV
\ODVOODQWDV$ODSDUFDUQRDSULVLRQH
ORVQHXPÒWLFRVFRQWUDHOERUGLOOR
&RPSUXHEHSHULäGLFDPHQWHVLODV
OODQWDVHVWÒQGDâDGDV(QFDVRGH
GDâRVRGHVJDVWHH[FHVLYRUHFXUUDD
ODD\XGDGHXQWDOOHU
(OJDWR\ODVKHUUDPLHQWDVHVWÒQHQ
XQFRPSDUWLPHQWRSRUWDREMHWRVHQHO
FRPSDUWLPHQWRGHFDUJDGHEDMRGHOD 1HXPÒWLFRVGHLQYLHUQR
UXHGDGHUHSXHVWR5XHGDGHUHಢ /RVQHXPÒWLFRVGHLQYLHUQRRIUHFHQ
SXHVWR  PD\RUVHJXULGDGDWHPSHUDWXUDVLQಢ
IHULRUHVD¡&\SRUWDQWRGHEHUÞDQ
/DVKHUUDPLHQWDV\HOMXHJRGHUHSDಢ PRQWDUVHHQWRGDVODVUXHGDV
UDFLäQGHQHXPÒWLFRVHVWÒQHQXQ
FRPSDUWLPHQWRSRUWDREMHWRVGHEDMR /DSHJDWLQDFRQHOOÞPLWHGHYHORFLಢ
GHODFXELHUWDGHOSLVRHQHOFRPSDUಢ GDGVHJëQODVQRUPDVGHWUÒILFRGHO
WLPHQWRGHFDUJD SDÞVGHEHFRORFDUVHHQHOFDPSRYLಢ
VXDOGHOFRQGXFWRU
&XLGDGRGHOYHKÞFXOR 

'HVLJQDFLRQHVGHORV 3UHVLäQGHORVQHXPÒWLFRV /DUXHGDGHUHSXHVWRVHGHEHLQIODU


VLHPSUHFRQODSUHVLäQHVSHFLILFDGD
QHXPÒWLFRV &RPSUXHEHODSUHVLäQGHORVQHXPÒಢ SDUDFDUJDFRPSOHWD
SHM5+ WLFRVHQIUÞRDOPHQRVFDGDGÞDV\
DQWHVGHFXDOTXLHUYLDMHODUJR1RROಢ /DSUHVLäQGHORVQHXPÒWLFRV(&2
 $QFKXUDGHOQHXPÒWLFRHQ YLGHODUXHGDGHUHSXHVWR VLUYHSDUDUHGXFLUHOFRQVXPRGH
PP FRPEXVWLEOH
 5HODFLäQGHVHFFLäQ DOWXUD 'HVHQURVTXHHOWDSäQGHODYÒOYXOD
8QDSUHVLäQGHORVQHXPÒWLFRVLQFRಢ
GHOQHXPÒWLFRUHVSHFWRDOD UUHFWDDIHFWDUÒQHJDWLYDPHQWHDOD
DQFKXUD HQ VHJXULGDGDODPDQLREUDELOLGDGGHO
5 7LSRGHFXELHUWD5DGLDO YHKÞFXORDOFRQIRUW\DOFRQVXPRGH
5) 7LSR5XQ)ODW FRPEXVWLEOHDGHPÒVGHDXPHQWDUHO
 'LÒPHWURGHODOODQWDHQSXOಢ GHVJDVWHGHORVQHXPÒWLFRV
JDGDV
 ¾QGLFHGHFDUJDSHMFRಢ  $GYHUWHQFLD
UUHVSRQGHDNJ
+ /HWUDGHOFäGLJRGHYHORFLGDG 6LODSUHVLäQHVLQVXILFLHQWHORV
/HWUDGHOFäGLJRGHYHORFLGDG QHXPÒWLFRVSXHGHQFDOHQWDUVH
FRQVLGHUDEOHPHQWHSXGLHQGR
4 KDVWDNPK SURGXFLUVHGHVSHUIHFWRVLQWHUQRV
6 KDVWDNPK TXHSXHGHQOOHJDUDSURYRFDUHO
7 KDVWDNPK 3UHVLäQGHORVQHXPÒWLFRV \
GHVSUHQGLPLHQWRGHODEDQGDGH
+ KDVWDNPK HQODHWLTXHWDFRORFDGDHQHOPDUFR URGDGXUDHLQFOXVRXQUHYHQWäQGHO
9 KDVWDNPK GHODSXHUWDGHODQWHUDL]TXLHUGD QHXPÒWLFRFXDQGRVHFLUFXODD
: KDVWDNPK /RVGDWRVVREUHSUHVLRQHVVRQYÒOLಢ JUDQYHORFLGDG
GRVSDUDQHXPÒWLFRVIUÞRV6RQDSOLಢ
FDEOHVDQHXPÒWLFRVGHYHUDQR\GH
LQYLHUQR
3URIXQGLGDGGHOGLEXMR
&RPSUXHEHUHJXODUPHQWHODSURIXQಢ
GLGDGGHOGLEXMR
 &XLGDGRGHOYHKÞFXOR

3RUPRWLYRVGHVHJXULGDGORVQHXಢ /RVQHXPÒWLFRVHQYHMHFHQDXQTXH
PÒWLFRVGHEHQVXVWLWXLUVHDODOFDQ]DU QRVHXVHQ/HUHFRPHQGDPRVVXVWLಢ  $GYHUWHQFLD
HOGLEXMRXQDSURIXQGLGDGGHPP WXLUORVQHXPÒWLFRVFDGDDâRV
QHXPÒWLFRVGHLQYLHUQRDORVPP  1RXWLOLFHOODQWDV\QHXPÒWLFRVGH
WLSRV\WDPDâRVGLIHUHQWHVDORV
&DPELRGHOWDPDâRGH PRQWDGRVRULJLQDOPHQWHHQHOYHಢ
QHXPÒWLFRV\OODQWDV KÞFXOR(VWRSXHGHPHQRVFDEDUOD
VHJXULGDG\ODVSUHVWDFLRQHVGHO
6LVHXWLOL]DQQHXPÒWLFRVFRQXQWDಢ YHKÞFXOR3RGUÞDGDUOXJDUDIDOORV
PDâRGLIHUHQWHDORVPRQWDGRVGHIÒಢ GHPDQHMRRYXHOFRV\JUDYHVOHಢ
EULFDSXHGHVHUQHFHVDULRUHSURJUDಢ VLRQHV&XDQGRVXVWLWX\DORVQHXಢ
PDUHOYHORFÞPHWURDVÞFRPRODSUHಢ PÒWLFRVDVHJëUHVHGHPRQWDUORV
VLäQQRPLQDOGHORVQHXPÒWLFRV\ FXDWURQHXPÒWLFRVGHOPLVPRWDಢ
UHDOL]DURWUDVPRGLILFDFLRQHVHQHOYHಢ PDâRWLSRSHUILOPDUFD\FDSDFLಢ
KÞFXOR GDGGHFDUJD(OXVRGHFXDOTXLHU
$OFDPELDUDQHXPÒWLFRVGHRWURWDಢ RWURWDPDâRRWLSRGHQHXPÒWLFR
PDâRKDJDVXVWLWXLUODSHJDWLQDFRQ SRGUÞDDOWHUDUJUDYHPHQWHODVXVಢ
ODSUHVLäQGHORVQHXPÒWLFRV SHQVLäQHOPDQHMRODDOWXUDVREUH
/DSURIXQGLGDGPÞQLPDDXWRUL]DGDOHಢ HOVXHORODGLVWDQFLDGHIUHQDGROD
JDOPHQWH PP VHKDDOFDQ]DGR  $GYHUWHQFLD KROJXUDUHVSHFWRDODFDUURFHUÞD\
FXDQGRHOGLEXMRPXHVWUDXQLQGLFDಢ ODILDELOLGDGGHOYHORFÞPHWUR
GRUGHGHVJDVWH 7:, 7UHDG:HDU (OXVRGHFXELHUWDVRQHXPÒWLFRV
,QGLFDWRU 6XSRVLFLäQVHLQGLFDPHಢ LQDSURSLDGRVSXHGHGDUOXJDUD
GLDQWHPDUFDVHQHOIODQFRGHOQHXಢ 7DSDFXERV
DFFLGHQWHV\DODDQXODFLäQGHO
PÒWLFR SHUPLVRGHFLUFXODFLäQGHVXYHಢ 6HGHEHQXWLOL]DUWDSDFXERV\QHXಢ
6LHOGHVJDVWHGHODQWHIXHVHPD\RU KÞFXOR PÒWLFRVKRPRORJDGRVSRUHOIDEULಢ
TXHGHWUÒVFDPELHODVUXHGDVGHODQಢ FDQWHSDUDHOYHKÞFXORFRUUHVSRQಢ
WHUDVSRUODVWUDVHUDV$VHJëUHVHGH GLHQWHTXHFXPSOHQWRGRVORVUHTXLಢ
TXHODGLUHFFLäQGHJLURGHODVUXHGDV VLWRVGHODFRPELQDFLäQGHOODQWD\
VHDODPLVPDGHDQWHV QHXPÒWLFR
&XLGDGRGHOYHKÞFXOR 

6LQRVHXWLOL]DQWDSDFXERV\QHXPÒಢ 6äORVHSXHGHQXWLOL]DUFDGHQDVHQ /RVGDâRVTXHVXSHUHQORVPPR


WLFRVKRPRORJDGRVSRUHOIDEULFDQWH ODVUXHGDVGHODQWHUDV TXHHVWÚQHQHOIODQFRGHOQHXPÒWLFR
ORVQHXPÒWLFRVQRGHEHQGLVSRQHUGH 1RVHSXHGHQPRQWDUFDGHQDVHQ FHUFDGHODOODQWDQRSXHGHQVHUVXEಢ
QHUYDGXUDGHSURWHFFLäQUDGLDO QHXPÒWLFRVGHOWDPDâR5 VDQDGRVFRQHOMXHJRGHUHSDUDFLäQ
/RVWDSDFXERVQRGHEHQPHQRVFDEDU GHQHXPÒWLFRV
8WLOLFHVLHPSUHFDGHQDVGHHVODERಢ
ODUHIULJHUDFLäQGHORVIUHQRV QHVILQRVTXHQRVREUHVDOJDQPÒVGH
PPGHOGLEXMRGHOQHXPÒWLFR\GH
 $GYHUWHQFLD
 $GYHUWHQFLD ORVODGRVLQWHULRUHV LQFOXLGRHOFLHUUH
1RFRQGX]FDDPÒVGHNPK
GHODFDGHQD 
(OXVRGHQHXPÒWLFRVRWDSDFXERV 1RXWLOLFHODUXHGDUHSDUDGDGXಢ
LQDGHFXDGRVSXHGHGDUOXJDUDOD  $GYHUWHQFLD UDQWHXQSHUÞRGRGHWLHPSRSURಢ
SÚUGLGDUHSHQWLQDGHSUHVLäQ\ ORQJDGR
SRUWDQWRRFDVLRQDUXQDFFLGHQWH /RVGDâRVSXHGHQRFDVLRQDUXQ /DGLUHFFLäQ\PDQLREUDELOLGDG
UHYHQWäQGHOQHXPÒWLFR SXHGHQYHUVHDIHFWDGDV
&DGHQDVSDUDQLHYH
-XHJRGHUHSDUDFLäQGH (QFDVRGHVXIULUXQSLQFKD]R
QHXPÒWLFRV $FFLRQHHOIUHQRGHHVWDFLRQDPLHQWR
\HQJUDQHODSULPHUDODPDUFKDDWUÒV
(OMXHJRGHUHSDUDFLäQGHQHXPÒWLFRV R3
SHUPLWHVXEVDQDUGDâRVPHQRUHVHQ
ODVXSHUILFLHGHURGDGXUD\HQHO
IODQFRGHOQHXPÒWLFR
1RUHWLUHORVFXHUSRVH[WUDâRVGHORV
QHXPÒWLFRV
 &XLGDGRGHOYHKÞFXOR

 (QURVTXHHOWXERIOH[LEOHGHDLUH
GHOFRPSUHVRUDODFRQH[LäQHQHO
ERWHGHVHOODGRU
 &RORTXHHOERWHGHVHOODGRUHQOD
VXMHFLäQGHOFRPSUHVRU
&RORTXHHOFRPSUHVRUFHUFDGHO
QHXPÒWLFRGHPRGRTXHHOERWH
GHVHOODGRUHVWÚHQSRVLFLäQYHUWLಢ
FDO

(OMXHJRGHUHSDUDFLäQGHQHXPÒWLFRV  6DTXHHOFDEOHGHFRQH[LäQHOÚFಢ
HVWÒHQXQFRPSDUWLPHQWRGHEDMRGH WULFD\HOWXERIOH[LEOHGHDLUHGHO
ODFXELHUWDGHOSLVRHQHOFRPSDUWLಢ FRPSDUWLPHQWRSRUWDREMHWRVHQOD
PHQWRGHFDUJD SDUWHLQIHULRUGHOFRPSUHVRU
 6DTXHHOMXHJRGHUHSDUDFLäQGH
QHXPÒWLFRVGHOFRPSDUWLPHQWR
 ([WUDLJDHOFRPSUHVRU

 'HVHQURVTXHHOWDSäQGHODYÒOಢ
YXODGHOQHXPÒWLFRDYHULDGR
 (QURVTXHHOWXERIOH[LEOHGHOOHಢ
QDGRDODYÒOYXODGHOQHXPÒWLFR
 (OLQWHUUXSWRUGHOFRPSUHVRUGHEH
HVWDUHQ!
&XLGDGRGHOYHKÞFXOR 

 &RQHFWHHOHQFKXIHGHOFRPSUHಢ VLRQHVGHKDVWDEDU3RVWHULRUಢ QHXPÒWLFRXQDYXHOWDFRPSOHWD


VRUDODWRPDSDUDDFFHVRULRVHQ PHQWHODSUHVLäQHPSLH]DDGHVಢ 9XHOYDDFRQHFWDUHOMXHJRGHUHಢ
ODSDUWHWUDVHUDGHODFRQVROD1R FHQGHU SDUDFLäQGHQHXPÒWLFRV\FRQWLಢ
FRQHFWHHOHQFKXIHGHOFRPSUHVRU  7RGRHOVHOODGRUVHERPEHDDOLQಢ QëHHOSURFHVRGHLQIODGRGXUDQWH
HQODWRPDGHFRUULHQWHGHOHQFHQಢ WHULRUGHOQHXPÒWLFR$FRQWLQXDಢ RWURVPLQXWRV6LDëQQRVHDOಢ
GHGRU FLäQVHLQIODHOQHXPÒWLFR FDQ]DODSUHVLäQSUHVFULWDVLJQLಢ
3DUDLPSHGLUODGHVFDUJDGHODEDಢ ILFDTXHHOGDâRGHOQHXPÒWLFRHV
 /DSUHVLäQGHOQHXPÒWLFRSUHVಢ GHPDVLDGRJUDYH5HFXUUDDOD
WHUÞDUHFRPHQGDPRVGHMDUHOPRಢ FULWDGHEHDOFDQ]DUVHHQXQSOD]R
WRUHQPDUFKD D\XGDGHXQWDOOHU
GHPLQXWRV3UHVLäQGHORV
QHXPÒWLFRV 8QDYH]DOಢ 9DFÞHHOH[FHVRGHSUHVLäQGHORV
FDQ]DGDODSUHVLäQFRUUHFWDGHVಢ QHXPÒWLFRVPHGLDQWHHOERWäQVLಢ
FRQHFWHHOFRPSUHVRU WXDGRHQFLPDGHOLQGLFDGRUGH
SUHVLäQ
(OFRPSUHVRUQRGHEHHVWDUHQ
VHUYLFLRPÒVGHPLQXWRV
 'HVDFRSOHHOMXHJRGHUHSDUDFLäQ
GHQHXPÒWLFRV3XOVHODSHVWDâD
TXHKD\HQHOVRSRUWHSDUDGHVಢ
PRQWDUHOERWHGHVHOODGRUGHOVRಢ
SRUWH(QURVTXHHOWXERIOH[LEOHGH
LQIODGRHQODFRQH[LäQOLEUHGHO
 3RQJDHOLQWHUUXSWRUEDVFXODQWH ERWHGHVHOODGRU(VWRHYLWDIXJDV
GHOFRPSUHVRUHQ,(OQHXPÒWLFR GHVHOODGRU*XDUGHHOMXHJRGH
VHOOHQDUÒFRQHOVHOODGRU UHSDUDFLäQGHQHXPÒWLFRVHQHO
6LODSUHVLäQSUHVFULWDQRVHDOಢ FRPSDUWLPHQWRGHFDUJD
 0LHQWUDVVHYDFÞDHOERWHGHVHಢ
OODGRU DSUR[VHJXQGRV HO FDQ]DHQXQSOD]RGHPLQXWRV  (OLPLQHHOH[FHVRGHVHOODGRUFRQ
PDQäPHWURGHOFRPSUHVRUSXHGH GHVFRQHFWHHOMXHJRGHUHSDUDಢ XQSDâR
OOHJDUDPRVWUDUEUHYHPHQWHSUHಢ FLäQGHQHXPÒWLFRV+DJDJLUDUHO
 &XLGDGRGHOYHKÞFXOR

 /DSHJDWLQDTXHVHDGMXQWDFRQHO 6LODSUHVLäQGHOQHXPÒWLFRHVVXಢ SDFLGDGGHVHOODGR&RPSUXHEHOD


ERWHGHVHOODGRUTXHLQGLFDODYHಢ SHULRUDEDUDMëVWHODDOYDORU IHFKDGHFDGXFLGDGLQGLFDGDHQHO
ORFLGDGPÒ[LPDDXWRUL]DGDGHEH SUHVFULWR5HSLWDHOSURFHGLPLHQWR ERWHGHVHOODGRU
FRORFDUVHHQHOFDPSRYLVXDOGHO KDVWDTXHQRKD\DPÒVSÚUGLGD 6XVWLWX\DHOERWHGHVHOODGRUXQDYH]
FRQGXFWRU GHSUHVLäQ XVDGR'HVHFKHHOERWHFRQIRUPHD
 &RQWLQëHODPDUFKDLQPHGLDWDಢ 6LODSUHVLäQGHOQHXPÒWLFRHVLQಢ ODVGLVSRVLFLRQHVOHJDOHVYLJHQWHV
PHQWHSDUDTXHHOVHOODGRUVHGLVಢ IHULRUDEDUQRVHSXHGHFLUಢ (OFRPSUHVRU\HOVHOODGRUSXHGHQ
WULEX\DXQLIRUPHPHQWHHQHOQHXಢ FXODUFRQHOYHKÞFXOR5HFXUUDDOD XWLOL]DUVHDXQDWHPSHUDWXUDGH
PÒWLFR'HVSXÚVGHFRQGXFLU D\XGDGHXQWDOOHU KDVWD¡&DSUR[LPDGDPHQWH
XQRVNP QRPÒVGHPLQXಢ  *XDUGHHOMXHJRGHUHSDUDFLäQGH
WRV GHWÚQJDVH\FRPSUXHEHOD /RVDGDSWDGRUHVVXPLQLVWUDGRV
QHXPÒWLFRVHQHOFRPSDUWLPHQWR SXHGHQXWLOL]DUVHSDUDLQIODURWURV
SUHVLäQGHOQHXPÒWLFR3DUDHOOR GHFDUJD
FRQHFWHGLUHFWDPHQWHHOWXERIOHಢ REMHWRVFRPREDORQHVGHIëWEROFROಢ
[LEOHGHDLUHDODYÒOYXODGHOQHXಢ 1RWD FKRQHVGHDLUHERWHVQHXPÒWLFRV
PÒWLFR\DOFRPSUHVRU /DFRPRGLGDGGHPDUFKDGHOQHXಢ HWF(VWÒQDORMDGRVHQODSDUWHLQIHಢ
PÒWLFRUHSDUDGRVHYHDIHFWDGDQHಢ ULRUGHOFRPSUHVRU3DUDGHVPRQWDUಢ
JDWLYDPHQWHSRUORTXHHVUHFRPHQಢ ORVHQURVTXHHOWXERIOH[LEOHGHDLUH
GDEOHVXVWLWXLUGLFKRQHXPÒWLFR GHOFRPSUHVRU\H[WUDLJDHODGDSWDಢ
GRU
6LHOFRPSUHVRUSURGXFHUXLGRVDQäಢ
PDORVRVHFDOLHQWDGÚMHORGHVFRಢ &DPELRGHUXHGDV
QHFWDGRGXUDQWHDOPHQRVPLQXಢ
WRV $OJXQRVYHKÞFXORVHVWÒQHTXLSDGRV
FRQXQMXHJRGHUHSDUDFLäQGHQHXಢ
/DYÒOYXODGHVHJXULGDGLQWHJUDGD PÒWLFRVHQYH]GHXQDUXHGDGHUHಢ
VHDEUHDXQDSUHVLäQGHEDU SXHVWR 
7HQJDHQFXHQWDODIHFKDGHFDGXಢ
FLGDGGHOMXHJR'HVSXÚVGHGLFKD
IHFKDQRSXHGHJDUDQWL]DUVHVXFDಢ
&XLGDGRGHOYHKÞFXOR 

6HGHEHQHIHFWXDUORVSUHSDUDWLYRV\ ࿢ 1RVHPHWDQXQFDGHEDMRGHXQYHಢ OODGRU\GHVPäQWHORV4XLWHHOWDಢ


REVHUYDUODVLQGLFDFLRQHVVLJXLHQWHV KÞFXORTXHHVWÚDO]DGRFRQXQJDWR SDFXERVFRQHOJDQFKR+HUUDಢ
࿢ $SDUTXHHOYHKÞFXORHQXQDVXSHUಢ ࿢ 1RDUUDQTXHHOYHKÞFXORPLHQWUDV PLHQWDVGHOYHKÞFXOR 
ILFLHQLYHODGDILUPH\QRGHVOL]DQWH HVWÚOHYDQWDGRFRQHOJDWR /ODQWDVGHDOHDFLäQ'HVHQFODYH
/DVUXHGDVGHODQWHUDVGHEHQHVWDU ࿢ /LPSLHODVWXHUFDVGHUXHGD\ODV ORVWDSRQHVGHODVWXHUFDVGH
HQSRVLFLäQGHPDUFKDHQOÞQHD URVFDVFRQXQSDâROLPSLRDQWHVGH UXHGDFRQXQGHVWRUQLOODGRU\GHVಢ
UHFWD PRQWDUODUXHGD PäQWHORV3DUDSURWHJHUODOODQWD
࿢ $FFLRQHHOIUHQRGHHVWDFLRQDಢ FRORTXHXQSDâRVXDYHHQWUHHO
PLHQWR\HQJUDQHODSULPHUDOD  $GYHUWHQFLD GHVWRUQLOODGRU\ODOODQWDGHDOHDಢ
PDUFKDDWUÒVR3 FLäQ
࿢ 6DTXHODUXHGDGHUHSXHVWR 1RHQJUDVHHOWRUQLOORGHUXHGDOD  9DULDQWH
 WXHUFDGHUXHGDQLHOFRQRGHOD
WXHUFDGHUXHGD
࿢ 1XQFDFDPELHPÒVGHXQDUXHGD
VLPXOWÒQHDPHQWH
࿢ 8WLOLFHHOJDWRëQLFDPHQWHSDUD
FDPELDUODVUXHGDVHQFDVRGHSLQಢ
FKD]RQRSDUDHOFDPELRHVWDFLRಢ
QDOGHQHXPÒWLFRVGHLQYLHUQRRGH
YHUDQR
࿢ 6LHOWHUUHQRGRQGHHVWÒHVWDFLRಢ
QDGRHOYHKÞFXORHVEODQGRGHEH
FRORFDUVHGHEDMRGHOJDWRXQDEDVH
HVWDEOH FRQXQJURVRUPÒ[LPRGH 0RQWHODOODYHSDUDWRUQLOORVGH
FP  UXHGDDVHJXUÒQGRVHGHTXHVH
࿢ 1RGHEHKDEHUSHUVRQDVQLDQLPDಢ FRORFDELHQ\DIORMHFDGDWXHUFD
OHVGHQWURGHOYHKÞFXORFXDQGRVH  'HVHQFODYHORVWDSRQHVGHODV GHUXHGDPHGLDYXHOWD
XWLOLFHHOJDWR WXHUFDVGHUXHGDFRQXQGHVWRUQLಢ 9DULDQWH
 &XLGDGRGHOYHKÞFXOR

'HVSOLHJXHODOODYHSDUDUXHGDV\ &RORTXHODPDQRGHWUÒVGHODFXಢ
 $VHJëUHVHGHTXHHOJDWRHVWÚFRಢ
PäQWHODDVHJXUÒQGRVHGHVXFRಢ ELHUWDGHOUHYHVWLPLHQWRGHOHVಢ
UUHFWDPHQWHFRORFDGRHQORVSXQಢ
UUHFWDFRORFDFLäQ\DIORMHFDGD WULER
WRVGHHOHYDFLäQGHOYHKÞFXOR
WXHUFDGHUXHGDPHGLDYXHOWD 7LUHKDFLDDEDMR\KDFLDDIXHUD
 9DULDQWH
 6äORHQORVPRGHORVGHSRUWLYRV SDUDGHVPRQWDUODFXELHUWD/DFXಢ
ELHUWDHVWÒILMDGDFRQXQDQFODMH
&XLGDGRGHOYHKÞFXOR 

$MXVWHHOJDWRDODDOWXUDQHFHVDಢ $FRSOHODOODYHSDUDUXHGDV\FRQ
ULD&RORTXHHOJDWRGLUHFWDPHQWH HOJDWRFRUUHFWDPHQWHDOLQHDGR
GHEDMRGHOSXQWRGHHOHYDFLäQGH JLUHODOODYHSDUDUXHGDVKDVWDTXH
PRGRTXHQRSXHGDUHVEDODU ODUXHGDVHGHVSHJXHGHOVXHOR
 'HVHQURVTXHODVWXHUFDVGH
UXHGD
 &DPELHODUXHGD
 (QURVTXHODVWXHUFDVGHUXHGD
 %DMHHOYHKÞFXOR
 ,QVHUWHFRPSOHWDPHQWHODOODYH
SDUDUXHGDV\DSULHWHODVWXHUFDV
$MXVWHHOJDWRDODDOWXUDQHFHVDಢ VLJXLHQGRXQRUGHQHQFUX](OSDU
ULD&RORTXHHOJDWRGLUHFWDPHQWH GHDSULHWHHVGH1P
GHEDMRGHOSXQWRGHHOHYDFLäQGH
PRGRTXHQRSXHGDUHVEDODU  $OLQHHHORULILFLRSDUDODYÒOYXODHQ
HOWDSDFXERVFRQODYÒOYXODGHO
$FRSOHODPDQLYHODGHOJDWR\FRQ QHXPÒWLFRDQWHVGHOPRQWDMH
HOJDWRFRUUHFWDPHQWHDOLQHDGR
JLUHODPDQLYHODKDVWDTXHOD 0RQWHORVWDSRQHVGHODVWXHUFDV
UXHGDVHGHVSHJXHGHOVXHOR GHUXHGD
9DULDQWH  6äORHQORVPRGHORVGHSRUWLYRV
 &XLGDGRGHOYHKÞFXOR

5XHGDGHUHSXHVWR
$OJXQRVYHKÞFXORVHVWÒQHTXLSDGRV
FRQXQMXHJRGHUHSDUDFLäQGHQHXಢ
PÒWLFRVHQYH]GHXQDUXHGDGHUHಢ
SXHVWR
/DUXHGDGHUHSXHVWRSXHGHFODVLILಢ
FDUVHFRPRXQDUXHGDGHHPHUJHQಢ
FLDGHSHQGLHQGRGHOWDPDâRUHVSHFWR
DODVRWUDVUXHGDVPRQWDGDV\GHOD
OHJLVODFLäQQDFLRQDO
/DUXHGDGHUHSXHVWRWLHQHXQDOODQWD
9XHOYDDPRQWDUODFXELHUWD GHDFHUR /DUXHGDGHUHSXHVWRHVWÒVLWXDGDHQ
0RQWHORVGRVSDVDGRUHVWUDVHURV HOFRPSDUWLPHQWRGHFDUJDGHEDMRGH
HQORVRULILFLRVGHOSDQHODGRGH $WHQFLäQ ODFXELHUWDGHOSLVR(VWÒILMDGDHQHO
XPEUDO\GHVSOLHJXHODFXELHUWD UHEDMHPHGLDQWHXQDWXHUFDGHPDULಢ
SDUDHQJDQFKDU (OXVRGHXQDUXHGDGHUHSXHVWR SRVD
 *XDUGHODUXHGDVXVWLWXLGD  GHPHQRUWDPDâRTXHODVGHPÒV
UXHGDVRMXQWRFRQQHXPÒWLFRVGH (OKXHFRGHODUXHGDGHUHSXHVWRQR
\ODVKHUUDPLHQWDVGHOYHKÞFXOR HVWÒGLVHâDGRSDUDWRGRVORVWDPDಢ
 LQYLHUQRSXHGHDIHFWDUDOFRPSRUಢ
WDPLHQWRGHPDUFKD+DJDVXVWLಢ âRVGHQHXPÒWLFRVSHUPLWLGRV6LXQD
 &RPSUXHEHODSUHVLäQGHOQHXPÒಢ WXLUHOQHXPÒWLFRDYHULDGRORDQWHV UXHGDHVPÒVDQFKDTXHODGHUHಢ
WLFRPRQWDGR\HOSDUGHDSULHWHGH SRVLEOH SXHVWRVHGHEHJXDUGDUHQHOKXHFR
ODVWXHUFDVGHUXHGDORDQWHVSRಢ GHODUXHGDGHUHSXHVWRGHVSXÚVGH
VLEOH FDPELDUODVUXHGDVODFXELHUWDGHO
+DJDUHSDUDURVXVWLWXLUHOQHXಢ SLVRSXHGHFRORFDUVHHQFLPDGHOD
PÒWLFRDYHULDGR UXHGDTXHVREUHVDOH
&XLGDGRGHOYHKÞFXOR 

$OPDFHQDPLHQWRGHXQDUXHGD
DYHULDGDSXHUWDV\6WDWLRQ
:DJRQ
/DUXHGDDYHULDGDGHWDPDâRFRPಢ
SOHWRGHEHDOPDFHQDUVHHQHOH[WHULRU
HQHOKXHFRGHODUXHGDGHUHSXHVWR
\ILMDUVHELHQFRQODWXHUFDGHPDULಢ
SRVD

$OPDFHQDPLHQWRGHXQDUXHGD
DYHULDGDSXHUWDV
/DUXHGDDYHULDGDGHEHJXDUGDUVHHQ
HOFRPSDUWLPHQWRGHFDUJD\DVHJXಢ  &RORTXHHOOD]RGHOH[WUHPRGHOD  ,QVHUWHODFRUUHDHQWUHORVUDGLRV
UDUVHFRQXQDFRUUHD+HUUDPLHQWDV FRUUHDHQODDUJROODGHODQWHUDGHO GHODOODQWDFRPRVHPXHVWUDHQOD
GHOYHKÞFXOR  ODGRFRUUHVSRQGLHQWH LOXVWUDFLäQ
 &RORTXHODUXHGDDXQODGRGHO  ,QVHUWHHOJDQFKRGHOH[WUHPRGH  0RQWHHOJDQFKRHQODDUJROODWUDಢ
FRPSDUWLPHQWRGHFDUJD ODFRUUHDHQHOOD]R\WLUHGHÚO VHUD
KDVWDTXHODFRUUHDVHILMHFRUUHFಢ  $SULHWHODFRUUHD\IÞMHODFRQODKHಢ
WDPHQWHHQODDUJROOD ELOODGHFLHUUH

5XHGDGHHPHUJHQFLD
(OXVRGHODUXHGDGHHPHUJHQFLD
SXHGHDIHFWDUDOFRPSRUWDPLHQWRGH
PDUFKD+DJDVXVWLWXLURUHSDUDUHO
QHXPÒWLFRDYHULDGRORDQWHVSRVLEOH
 &XLGDGRGHOYHKÞFXOR

6äORGHEHPRQWDUVHXQDUXHGDGH $UUDQTXHFRQFDEOHV TXHSXHGHRFDVLRQDUOHVLRQHV\


HPHUJHQFLD1RFRQGX]FDDPÒVGH GDâRVHQFDVRGHFRQWDFWRGLUHFWR
NPK7RPHODVFXUYDVGHVSDFLR FRQHOPLVPR
1RDUUDQTXHFRQFDUJDGRUHVUÒSLGRV
1RXWLOLFHODUXHGDGXUDQWHXQSHUÞRGR
GHWLHPSRSURORQJDGR 8QYHKÞFXORFRQODEDWHUÞDGHVFDUಢ
JDGDSXHGHSRQHUVHHQPDUFKDFRQ ࿢ 1RH[SRQJDODEDWHUÞDDOODPDV
&DGHQDVSDUDQLHYH  GHVFXELHUWDVRFKLVSDV
FDEOHVDX[LOLDUHVGHDUUDQTXH\ODEDಢ
WHUÞDGHRWURYHKÞFXOR ࿢ 8QDEDWHUÞDGHVFDUJDGDSXHGHKHಢ
1HXPÒWLFRVFRQGLUHFFLäQGH ODUVHDWHPSHUDWXUDVSUä[LPDVD
URGDGXUD  $GYHUWHQFLD ¡&'HVFRQJHOHODEDWHUÞDDQWHV
/RVQHXPÒWLFRVFRQGLUHFFLäQGHURಢ GHFRQHFWDUORVFDEOHVDX[LOLDUHVGH
GDGXUDGHEHQPRQWDUVHSDUDTXH 7HQJDPXFKRFXLGDGRFXDQGR DUUDQTXH
UXHGHQHQHOVHQWLGRGHPDUFKD/D DUUDQTXHFRQFDEOHVDX[LOLDUHV ࿢ /OHYHJDIDV\URSDGHSURWHFFLäQ
GLUHFFLäQGHURGDGXUDVHLQGLFDPHಢ &XDOTXLHUGHVYLDFLäQGHODVLQVಢ FXDQGRPDQLSXOHXQDEDWHUÞD
GLDQWHXQVÞPEROR SHMXQDIOHFKD WUXFFLRQHVVLJXLHQWHVSXHGHRFDಢ
HQHOIODQFR ࿢ 8WLOLFHXQDEDWHUÞDDX[LOLDUGHOD
VLRQDUOHVLRQHVRGDâRVPDWHULDಢ PLVPDWHQVLäQ YROWLRV 6XFDಢ
6LODVUXHGDVVHPRQWDQHQVHQWLGR OHVRFDVLRQDGRVSRUODH[SORVLäQ SDFLGDG $K QRGHEHVHUPX\LQIHಢ
FRQWUDULRDODGLUHFFLäQGHURGDGXUD GHODEDWHUÞDRGDâRVHQORVVLVWHಢ ULRUDODGHODEDWHUÞDGHVFDUJDGD
࿢ 3XHGHYHUVHDIHFWDGRHOFRPSRUWDಢ PDVHOÚFWULFRVGHDPERVYHKÞFXಢ
ORV ࿢ 8WLOLFHFDEOHVDX[LOLDUHVGHDUUDQಢ
PLHQWRGHPDUFKD+DJDVXVWLWXLUR
TXHFRQERUQHVDLVODGRV\XQDVHFಢ
UHSDUDUHOQHXPÒWLFRDYHULDGROR
FLäQPÞQLPDGHPP HQPRWRಢ
DQWHVSRVLEOH
 $GYHUWHQFLD UHVGLÚVHOGHPP 
࿢ 1RFRQGX]FDDPÒVGHNPK
࿢ 1RGHVFRQHFWHODEDWHUÞDGHVFDUಢ
࿢ 6HGHEHFRQGXFLUFRQPXFKDSUHಢ (YLWHVXFRQWDFWRFRQORVRMRVOD JDGDGHOYHKÞFXOR
FDXFLäQHQFDVRGHOOXYLD\QLHYH SLHOODURSDRVXSHUILFLHVSLQWDGDV
(OOÞTXLGRFRQWLHQHÒFLGRVXOIëULFR ࿢ 'HVFRQHFWHWRGRVORVFRQVXPLGRಢ
UHVHOÚFWULFRVLQQHFHVDULRV
&XLGDGRGHOYHKÞFXOR 

࿢ 1RVHDSR\HVREUHODEDWHUÞDGXಢ &RQHFWHORVFDEOHVHQHOVLJXLHQWHRUಢ  'HMHHQPDUFKDORVGRVPRWRUHV


UDQWHHODUUDQTXHFRQORVFDEOHVDXಢ GHQ DOUDOHQWÞGXUDQWHXQRVPLQXWRV
[LOLDUHV  &RQHFWHHOFDEOHURMRDOERUQHSRಢ FRQORVFDEOHVFRQHFWDGRV
࿢ 1RGHMHTXHORVERUQHVGHXQFDEOH VLWLYRGHODEDWHUÞDDX[LOLDU  &RQHFWHXQFRQVXPLGRUHOÚFWULFR
WRTXHQORVGHORWURFDEOH  &RQHFWHHORWURH[WUHPRGHOFDEOH SHMODVOXFHVRODOXQHWDWÚUPLFD
࿢ /RVYHKÞFXORVQRGHEHQHQWUDUHQ URMRDOERUQHSRVLWLYRGHODEDWHUÞD WUDVHUD HQHOYHKÞFXORTXHUHFLEH
FRQWDFWRGXUDQWHHOSURFHVRGH GHVFDUJDGD FRUULHQWH
DUUDQTXHFRQFDEOHV  &RQHFWHHOFDEOHQHJURDOERUQH  ,QYLHUWDH[DFWDPHQWHHORUGHQDQಢ
࿢ $FFLRQHHOIUHQRGHHVWDFLRQDಢ QHJDWLYRGHODEDWHUÞDDX[LOLDU WHULRUSDUDGHVFRQHFWDUORVFDಢ
PLHQWRFDPELRPDQXDOHQSXQWR EOHV
 &RQHFWHHORWURH[WUHPRGHOFDEOH
PXHUWRFDPELRDXWRPÒWLFRHQ3 QHJURDXQSXQWRGHPDVDGHOYHಢ
࿢ $EUDODVWDSDVGHSURWHFFLäQGHO KÞFXORFRPRHOEORTXHGHOPRWRU
ERUQHSRVLWLYRGHODVGRVEDWHUÞDV RXQWRUQLOORGHPRQWDMHGHOPRWRU
&RQÚFWHORORPÒVOHMRVSRVLEOHGH
ODEDWHUÞDGHOYHKÞFXORGHVFDUಢ
JDGDFRPRPÞQLPRDFP
&RORTXHORVFDEOHVGHIRUPDTXHQR
SXHGDQHQJDQFKDUVHHQSLH]DVJLUDಢ
WRULDVGHOFRPSDUWLPHQWRGHOPRWRU
3DUDDUUDQFDUHOPRWRU
 $UUDQTXHHOPRWRUGHOYHKÞFXOR
TXHVXPLQLVWUDODFRUULHQWH
 $UUDQTXHHORWURPRWRUXQRV
PLQXWRVGHVSXÚV/RVLQWHQWRV
GHDUUDQTXHVHGHEHQUHDOL]DUHQ
LQWHUYDORVGHPLQXWR\QRGHEHQ
GXUDUPÒVGHVHJXQGRV
 &XLGDGRGHOYHKÞFXOR

5HPROFDGR 2EVHUYHORVVLJXLHQWHVSURFHGLPLHQಢ
WRVFXDQGRUHPROTXHXQYHKÞFXOR
5HPROFDGRGHOYHKÞFXOR ࿢ 1RGHEHTXHGDUQLQJëQRFXSDQWH
HQHOYHKÞFXORUHPROFDGR
6LQHFHVLWDUHPROFDUVXYHKÞFXORXWLಢ
OLFHQXHVWUDUHGGHVHUYLFLRRXQVHUಢ ࿢ 6XHOWHHOIUHQRGHHVWDFLRQDPLHQWR
YLFLRGHJUëDSURIHVLRQDO GHOYHKÞFXORUHPROFDGR\SRQJDHO
FDPELRHQSXQWRPXHUWR
࿢ &RQHFWHODVOXFHVGHHPHUJHQFLD
࿢ 0DQWHQJDORVOÞPLWHVGHYHORFLGDG
6LQRIXHUDSRVLEOHUHPROFDUHOYHಢ
KÞFXORPHGLDQWHXQYHKÞFXORGHUHVಢ
FDWHSURFHGDGHOVLJXLHQWHPRGR

(OPHMRUPÚWRGRHVWUDQVSRUWDUHOYHಢ
KÞFXORPHGLDQWHXQYHKÞFXORGHUHVಢ
FDWH

6LVHUHPROFDGHUXHGDVGHEHQHOHಢ
YDUVHODVUXHGDVPRWULFHVGHODQWHUDV 'HVHQFODYHODWDSDSRUDEDMR\UHWÞಢ
\UHPROFDUVHFRQODVUXHGDVGHODQWHಢ UHODKDFLDDEDMR
UDVEORTXHDGDV
&XLGDGRGHOYHKÞFXOR 

/DDUJROODGHUHPROTXHVHJXDUGDFRQ 5HFXUUDDODD\XGDGHXQWDOOHU
ODVKHUUDPLHQWDVGHOYHKÞFXOR  $WHQFLäQ
7UDVHOUHPROFDGRGHVHQURVTXHOD
&RQGX]FDGHVSDFLR(YLWHORVWLURಢ DUJROODGHUHPROTXH
QHV/DVIXHU]DVGHWUDFFLäQH[FHಢ ,QVHUWHODWDSDSRUDEDMR\FLHUUHOD
VLYDVSRGUÞDQGDâDUHOYHKÞFXOR WDSD

6LHOPRWRUQRHVWÒHQPDUFKDVHUHಢ
TXLHUHPXFKDPÒVIXHU]DSDUDIUHQDU
5HPROFDGRGHRWUR
\GLULJLUHOYHKÞFXOR YHKÞFXOR
3DUDHYLWDUTXHHQWUHKXPRGHOHVಢ
FDSHGHOYHKÞFXORWUDFWRUFRQHFWHHO
VLVWHPDGHUHFLUFXODFLäQGHDLUH\FLHಢ
UUHODVYHQWDQLOODV
9HKÞFXORVFRQFDPELRDXWRPÒWLFR
(QURVTXHODDUJROODGHUHPROTXHWRGR 1RUHPROTXHHOYHKÞFXORXVDQGROD
ORSRVLEOHKDVWDTXHTXHGHHQSRVLಢ DUJROODGHUHPROTXH6LVHUHPROFDHO
FLäQKRUL]RQWDO YHKÞFXORFRQXQFDEOHGHUHPROTXHHO
)LMHXQFDEOHGHUHPROTXHಥRPHMRU FDPELRDXWRPÒWLFRSXHGHVXIULUGDಢ
XQDEDUUDGHUHPROTXHಥDODDUJROOD âRVJUDYHV&XDQGRUHPROTXHXQYHಢ
KÞFXORFRQFDPELRDXWRPÒWLFRXWLOLFH
/DDUJROODGHUHPROTXHVäORGHEHXWLಢ XQDSODWDIRUPDRXQHTXLSRSDUDOHಢ
OL]DUVHSDUDUHPROFDU\QRSDUDHOUHVಢ YDQWDUODVUXHGDV
FDWHGHOYHKÞFXOR 'HVHQFODYHODWDSDSRUDEDMR\UHWÞಢ
9HKÞFXORFRQFDPELRPDQXDO(OYHಢ UHODKDFLDDEDMR
&RQHFWHHOHQFHQGLGRSDUDGHVEORಢ KÞFXORGHEHUHPROFDUVHKDFLDDGHಢ
TXHDUHOYRODQWH\SDUDTXHIXQFLRQHQ /DDUJROODGHUHPROTXHVHJXDUGDFRQ
ODQWHVLQVXSHUDUXQDYHORFLGDGGH
ODVOXFHVGHOIUHQRODERFLQD\ORVOLPಢ ODVKHUUDPLHQWDVGHOYHKÞFXOR 
NPK(QWRGRVORVGHPÒVFDVRV
SLDSDUDEULVDV RVLHOFDPELRHVWÒDYHULDGRHOHMH
&DPELRHQSXQWRPXHUWR GHODQWHURGHEHOHYDQWDUVHGHOVXHOR
 &XLGDGRGHOYHKÞFXOR

$WHQFLäQ &XLGDGRGHODVSHFWR
&RQGX]FDGHVSDFLR(YLWHORVWLURಢ &XLGDGRH[WHULRU
QHV/DVIXHU]DVGHWUDFFLäQH[FHಢ
VLYDVSRGUÞDQGDâDUHOYHKÞFXOR &HUUDGXUDV
/DVFHUUDGXUDVVHOXEULFDQHQIÒEULFD
FRQXQDJUDVDGHDOWDFDOLGDGSDUDFLಢ
$WHQFLäQ OLQGURVGHFHUUDGXUD8WLOLFHXQSURಢ
GXFWRGHVFRQJHODQWHVäORHQXQFDVR
*DQFKRSDUDWUDQVSRUWHRFHÒQLFR DEVROXWDPHQWHQHFHVDULRSXHVVX
HQODSDUWHWUDVHUDGHORVEDMRVGHO HIHFWRGHVHQJUDVDQWHSHUMXGLFDHO
YHKÞFXOR IXQFLRQDPLHQWRGHODVFHUUDGXUDV
(QURVTXHODDUJROODGHUHPROTXHWRGR 1RGHEHXVDUVHSDUDUHPROFDUR 'HVSXÚVGHXVDUXQSURGXFWRGHVಢ
ORSRVLEOHKDVWDTXHTXHGHHQSRVLಢ DPDUUDU FRQJHODQWHKDJDHQJUDVDUODVFHUUDಢ
FLäQKRUL]RQWDO 1RGHEHXVDUVHFRPRSXQWRGH GXUDVHQXQWDOOHU
/DDUJROODGHVXMHFLäQH[LVWHQWHHQOD DPDUUHSDUDWUDQVSRUWHHQFDPLäQ
SDUWHLQIHULRUWUDVHUDGHOYHKÞFXOR RWUHQ /DYDGR
QXQFDGHEHHPSOHDUVHFRPRDUJROOD /DSLQWXUDGHOYHKÞFXORHVWÒH[SXHVWD
GHUHPROTXH 7UDVHOUHPROFDGRGHVHQURVTXHOD DODVLQIOXHQFLDVDPELHQWDOHV/DYH\
DUJROODGHUHPROTXH HQFHUHHOYHKÞFXORFRQUHJXODULGDG6L
)LMHXQFDEOHGHUHPROTXHಥRPHMRU XWLOL]DWëQHOHVGHODYDGRDXWRPÒWLFR
XQDEDUUDGHUHPROTXHಥDODDUJROOD ,QVHUWHODWDSDSRUDEDMR\FLHUUHOD
VHOHFFLRQHXQSURJUDPDTXHLQFOX\D
/DDUJROODGHUHPROTXHVäORGHEHXWLಢ WDSD
ODDSOLFDFLäQGHFHUD
OL]DUVHSDUDUHPROFDU\QRSDUDHOUHVಢ /RVH[FUHPHQWRVGHDYHVORVLQVHFಢ
FDWHGHRWURYHKÞFXOR WRVPXHUWRVODUHVLQDHOSROHQHWF
VHGHEHQOLPSLDUORDQWHVSRVLEOH\D
TXHFRQWLHQHQFRPSRQHQWHVDJUHVLಢ
YRV\SXHGHQGDâDUODSLQWXUD
&XLGDGRGHOYHKÞFXOR 

6LXWLOL]DXQWëQHOGHODYDGRFXPSOD /XFHVH[WHULRUHV
ODVLQVWUXFFLRQHVGHOIDEULFDQWH/RV $WHQFLäQ
/DVWDSDVGHORVIDURV\GHRWUDVOXFHV
OLPSLDSDUDEULVDV\HOOLPSLDOXQHWDGHಢ VRQGHSOÒVWLFR1RXWLOLFHSURGXFWRV
EHQHVWDUGHVFRQHFWDGRV'HVPRQWH 8WLOLFHVLHPSUHXQSURGXFWROLPಢ
SLDGRUFRQXQS+HQWUH\ DEUDVLYRVRFÒXVWLFRVQRXWLOLFHXQ
ODDQWHQD\DFFHVRULRVH[WHUQRVFRPR UDVFDGRUGHKLHORQLORVOLPSLHHQ
SRUWDHTXLSDMHVGHWHFKRHWF 1RXWLOLFHSURGXFWRVOLPSLDGRUHV VHFR
6LXVDXQWëQHOGHODYDGRFRQHOYHಢ VREUHVXSHUILFLHVFDOLHQWHV
KÞFXORGHVEORTXHDGRVHSRGUÞDDEULU $EULOODQWDGR\HQFHUDGR
ODWDSDGHOGHSäVLWRGHFRPEXVWLEOH\ +DJDHQJUDVDUODVELVDJUDVGHWRGDV (QFHUHHOYHKÞFXORFRQUHJXODULGDG D
VXIULUGDâRVHQHOWëQHOGHODYDGR ODVSXHUWDVHQXQWDOOHU PÒVWDUGDUFXDQGRHODJXDQRUHVಢ
$VHJëUHVHGHEORTXHDUODWDSDGHO 1ROLPSLHHOFRPSDUWLPHQWRGHOPRWRU EDOHIRUPDQGRSHUODV (QFDVRFRQಢ
GHSäVLWRGHFRPEXVWLEOHFRQHOERWäQ FRQFKRUURGHYDSRURDSDUDWRVGH WUDULRODSLQWXUDVHUHVHFD
GHOFLHUUHFHQWUDOL]DGR DOWDSUHVLäQ 6äORHVQHFHVDULRDEULOODQWDUODSLQಢ
6LVHODYDHOYHKÞFXORDPDQRGHEHQ (QMXDJXHELHQHOYHKÞFXOR\IUäWHOR WXUDVLÚVWDWLHQHDGKHULGDVVXVWDQಢ
HQMXDJDUVHELHQODV]RQDVLQWHULRUHV FRQXQDJDPX]D(QMXDJXHODJDಢ FLDVVäOLGDVRVLVHKDSXHVWRPDWH\
GHORVSDVDUUXHGDV PX]DFRQIUHFXHQFLD8WLOLFHJDPXಢ WLHQHPDODVSHFWR
]DVGLVWLQWDVSDUDODVVXSHUILFLHVSLQಢ (ODEULOODQWDGRFRQVLOLFRQDIRUPDXQD
/LPSLHWDPELÚQORVUHERUGHVLQWHULRಢ WDGDV\SDUDORVFULVWDOHVORVUHVWRV
UHV\ORVSOLHJXHVHQODVSXHUWDV\HO SHOÞFXODSURWHFWRUDFRQORTXHQRHV
GHFHUDHQORVFULVWDOHVGLILFXOWDQOD QHFHVDULRHQFHUDU
FDSäDELHUWRVDVÞFRPRODV]RQDVGH YLVLELOLGDG
ODFDUURFHUÞDFXELHUWDVSRUORVPLVಢ /DVSDUWHVGHSOÒVWLFRGHODFDUURFHಢ
PRV 1RXWLOLFHREMHWRVGXURVSDUDHOLPLQDU UÞDQRVHGHEHQWUDWDUFRQFHUDQLDEULಢ
PDQFKDVGHDOTXLWUÒQ8WLOLFHVSUD\ OODQWDGRUHV
SDUDHOLPLQDUDOTXLWUÒQGHODVVXSHUILಢ
FLHVSLQWDGDV
 &XLGDGRGHOYHKÞFXOR

&ULVWDOHVGHYHQWDQLOODV\ 7HFKRVRODU %DMRVGHOYHKÞFXOR


HVFRELOODVGHORV 1XQFDVHGHEHOLPSLDUFRQGLVROYHQಢ $OJXQDV]RQDVGHORVEDMRVGHOYHಢ
OLPSLDSDUDEULVDV WHVRSURGXFWRVDEUDVLYRVFRPEXVWLಢ KÞFXORWLHQHQXQDFDSDSURWHFWRUDGH
8WLOLFHXQSDâRVXDYHTXHQRVXHOWH EOHVSURGXFWRVDJUHVLYRV FRPR 39&\RWUDV]RQDVPÒVGHOLFDGDVWLHಢ
SHOXVDVRXQDJDPX]DFRQOLPSLDFULVಢ DJXDUUÒVVROXFLRQHVTXHFRQWHQJDQ QHQXQDFDSDGHFHUDSURWHFWRUDGXಢ
WDOHV\TXLWDLQVHFWRV DFHWRQDHWF SURGXFWRVÒFLGRVR UDGHUD
PX\DOFDOLQRVQLFRQHVSRQMDVDEUDಢ &RPSUXHEHORVEDMRVGHOYHKÞFXOR
$OOLPSLDUODOXQHWDWUDVHUDGHVGHHO VLYDV1RDSOLTXHFHUDQLDEULOODQWDಢ
LQWHULRUOLPSLHVLHPSUHHQSDUDOHORDO GHVSXÚVGHOODYDGR\HQFDVRQHFHಢ
GRUHVHQODSDUWHFHQWUDOGHOWHFKRVRಢ VDULRKÒJDORHQFHUDU
HOHPHQWRGHFDOHIDFFLäQSDUDHYLWDU ODU
GDâRV /RVSURGXFWRVDEDVHGHEHWëQ\FDXಢ
3DUDUHWLUDUHOKLHORPDQXDOPHQWHVH 5XHGDV\QHXPÒWLFRV FKRSXHGHQGDâDUODFDSDGH39&
GHEHXWLOL]DUXQUDVFDGRUGHKLHORGH +DJDUHDOL]DUORVWUDEDMRVUHODFLRQDಢ
1RXVHHTXLSRVGHOLPSLH]DDDOWD
ILORDJXGR3UHVLRQHHOUDVFDGRUILUಢ GRVFRQORVEDMRVHQXQWDOOHU
SUHVLäQ
PHPHQWHFRQWUDHOFULVWDOSDUDTXHQR 6HUHFRPLHQGDODYDUORVEDMRVDQWHV
/LPSLHODVOODQWDVFRQXQOLPSLDGRUGH
TXHGHVXFLHGDGGHEDMRGHOPLVPR \GHVSXÚVGHOLQYLHUQR\UHYLVDUOD
OODQWDVGHS+QHXWUR
TXHSXHGDUD\DUHOFULVWDO FDSDGHFHUDSURWHFWRUD
/DVOODQWDVHVWÒQSLQWDGDV\SXHGHQ
6LODVHVFRELOODVGHMDQUDVWURVSXHಢ WUDWDUVHFRQORVPLVPRVSURGXFWRV
GHQOLPSLDUVHFRQXQSDâRVXDYH\ TXHODFDUURFHUÞD &XLGDGRLQWHULRU
OLPSLDFULVWDOHV
'DâRVHQODSLQWXUD +DELWÒFXOR\WDSLFHUÞD
5HSDUHORVSHTXHâRVGHVSHUIHFWRV (OLQWHULRUGHOYHKÞFXORLQFOXLGRHOVDOಢ
HQODSLQWXUDFRQURWXODGRUGHUHWRTXH SLFDGHUR\ORVUHYHVWLPLHQWRVVäOR
DQWHVGHTXHVHIRUPHä[LGR$FXGD GHEHOLPSLDUVHFRQXQSDâRVHFRR
DXQWDOOHUVLKD\GDâRVPD\RUHVHQOD FRQSURGXFWRSDUDOLPSLH]DGHLQWHಢ
SLQWXUDR]RQDVR[LGDGDV ULRUHV
&XLGDGRGHOYHKÞFXOR 

(OFXDGURGHLQVWUXPHQWRV\ODVSDQಢ /RPLVPRHVDSOLFDEOHDODURSD
WDOODVVäORGHEHQOLPSLDUVHFRQXQ FRQREMHWRVGHERUGHVDILODGRV
SDâRVXDYHKëPHGR6LHVQHFHVDULR FRPRFUHPDOOHUDVRSDQWDORQHV
XWLOLFHXQDVROXFLäQMDERQRVDVXDYH YDTXHURVFRQWDFKXHODV
/LPSLHODWDSLFHUÞDFRQXQDDVSLUDಢ
GRUD\XQFHSLOOR(OLPLQHODVPDQಢ 8WLOLFHXQDDVSLUDGRUDSDUDOLPSLDUHO
FKDVFRQXQOLPSLDGRUSDUDWDSLFHಢ SROYRGHOWDSL]DGRGHUHMLOODHQHOWDಢ
UÞDV EOHURGHLQVWUXPHQWRV\ODSXHUWD(OLಢ
/RVWHMLGRVGHODURSDSXHGHQGHVWHಢ PLQHODVPDQFKDVFRQXQOLPSLDGRU
âLU(VWRSRGUÞDRFDVLRQDUGHFRORUDಢ SDUDLQWHULRUHV
FLRQHVYLVLEOHVHVSHFLDOPHQWHHQODV
WDSLFHUÞDVGHFRORUHVFODURV/DV 3LH]DVGHSOÒVWLFR\GHJRPD
PDQFKDV\GHFRORUDFLRQHVGHEHUÞDQ /DVSLH]DVGHSOÒVWLFR\JRPDSXHಢ
OLPSLDUVHORDQWHVSRVLEOH GHQOLPSLDUVHFRQORVPLVPRVSURGXFಢ
/LPSLHORVFLQWXURQHVGHVHJXULGDG WRVTXHODFDUURFHUÞD(QFDVRQHFHಢ
FRQDJXDWHPSODGDROLPSLDGRUSDUD VDULRXWLOLFHXQOLPSLDGRUSDUDLQWHULRಢ
LQWHULRUHV UHV1RXVHQLQJëQRWURSURGXFWR
(YLWHHVSHFLDOPHQWHHOXVRGHGLVROಢ
YHQWHV\JDVROLQD1RXVHHTXLSRVGH
$WHQFLäQ OLPSLH]DDDOWDSUHVLäQ
&LHUUHODVILMDFLRQHVGHYHOFUR\D
TXHORVFLHUUHVGHYHOFURDELHUWRV
GHODURSDSXHGHQGDâDUHOWDSLಢ
]DGRGHORVDVLHQWRV
 6HUYLFLR\PDQWHQLPLHQWR

,QIRUPDFLäQJHQHUDO (OFRQWUROGHYLGDëWLOGHODFHLWHOHLQಢ
6HUYLFLR\ GLFDFXÒQGRFDPELDUHODFHLWHGHOPRಢ
PDQWHQLPLHQWR ,QIRUPDFLäQGHVHUYLFLR WRU 

3DUDJDUDQWL]DUODVHJXULGDG\ODHFRಢ
QRPÞDGHIXQFLRQDPLHQWRGHOYHಢ
,QIRUPDFLäQJHQHUDO   KÞFXORDVÞFRPRSDUDPDQWHQHUVX
3LH]DVOÞTXLGRV\OXEULFDQWHVUHಢ YDORUHVGHYLWDOLPSRUWDQFLDUHDOL]DU
FRPHQGDGRV   WRGRVORVWUDEDMRVGHPDQWHQLPLHQWR
HQORVLQWHUYDORVFRUUHFWRVVHJëQOR
HVSHFLILFDGR
(OSODQGHUHYLVLRQHVGHWDOODGR\DFಢ
WXDOL]DGRSDUDVXYHKÞFXORHVWÒGLVಢ
SRQLEOHHQHOVXSOHPHQWR
(QFRQWUDUÒODVLQVWUXFFLRQHVGHLQVಢ
SHFFLäQ\HOSODQGHPDQWHQLPLHQWR
GHWDOODGRV\DFWXDOL]DGRVGHOYHಢ
KÞFXORHQODVQRUPDVGHJDUDQWÞD\HO
SURJUDPDGHPDQWHQLPLHQWR

&RQWUROGHODYLGDëWLOGHODFHLWH
HQPRWRUHVGLÚVHO
/RVLQWHUYDORVGHVHUYLFLRVHEDVDQ
HQYDULRVSDUÒPHWURVTXHGHSHQGHQ
GHOXVR\VHFDOFXODQXVDQGRGLFKRV
SDUÒPHWURV
6HUYLFLR\PDQWHQLPLHQWR 

3LH]DVOÞTXLGRV\ $FHLWHGHOPRWRU 6HOHFFLäQGHODFHLWHGHOPRWRU


(ODFHLWHGHPRWRUVHLGHQWLILFDSRUVX FRUUHFWR
OXEULFDQWHV FDOLGDG\VXYLVFRVLGDG/DFDOLGDGHV /DVHOHFFLäQGHODFHLWHGHOPRWRUGHಢ
UHFRPHQGDGRV PÒVLPSRUWDQWHTXHODYLVFRVLGDGDOD SHQGHGHODHVSHFLILFDFLäQGHDFHLWH
KRUDGHVHOHFFLRQDUTXÚDFHLWHGH \HOJUDGRGHYLVFRVLGDGDGHFXDGRV
/ÞTXLGRV\OXEULFDQWHV PRWRUVHYDDXVDU/DFDOLGDGGHO 8WLOLFH\SLGDVLHPSUHDFHLWHVGHPRಢ
UHFRPHQGDGRV DFHLWHJDUDQWL]DSRUHMHPSORODOLPಢ WRUFRQODPDUFDGHFHUWLILFDFLäQGH
SLH]DGHOPRWRUODSURWHFFLäQFRQWUD GH[RV/RVDFHLWHVTXHFXPSOHQORV
8WLOLFHVäORSURGXFWRVTXHKD\DQVLGR HOGHVJDVWH\HOFRQWUROGHOHQYHMHFLಢ UHTXLVLWRVGHOYHKÞFXORGHEHQWHQHUOD
FRPSUREDGRV\KRPRORJDGRV/RV PLHQWRGHODFHLWHPLHQWUDVTXHHO PDUFDGHODFHUWLILFDFLäQGH[RVHQHO
GDâRVUHVXOWDQWHVGHOXVRGHPDWHಢ JUDGRGHYLVFRVLGDGLQIRUPDVREUHOD UHFLSLHQWH(VWDPDUFDGHFHUWLILFDಢ
ULDOHVQRKRPRORJDGRVQRVHUÒQFXಢ IOXLGH]GHODFHLWHHQIXQFLäQGHOD FLäQLQGLFDTXHHODFHLWHKDVLGRDSURಢ
ELHUWRVSRUODJDUDQWÞD WHPSHUDWXUD EDGRVHJëQODVHVSHFLILFDFLRQHVGH
GH[RV
 $GYHUWHQFLD &DOLGDGGHODFHLWHGHPRWRU
8WLOLFHVLHPSUHDFHLWHGHOPRWRUTXH
GH[RV 7RGRVORVPRWRUHV KD\DVLGRDSUREDGRVHJëQODVHVSHಢ
/RVOÞTXLGRVOXEULFDQWHV\FRPಢ GHJDVROLQD FLILFDFLRQHVGHGH[RVRXQDFHLWHGHO
EXVWLEOHVVRQSHOLJURVRV\SXHGHQ
GH[RV 7RGRVORVPRWRUHV PRWRUHTXLYDOHQWHFRQHOJUDGRGH
VHUWä[LFRV'HEHQPDQLSXODUVH
GLÚVHO YLVFRVLGDGDSURSLDGR(QFDVRGHQR
FRQFXLGDGR3UHVWHDWHQFLäQDOD
XVDUHODFHLWHGHOPRWRURHTXLYDOHQWH
LQIRUPDFLäQTXHILJXUDHQORVHQಢ
$&($$% 0RWRUHVGHJDVROLQD HOPRWRUSXHGHVXIULUGDâRVTXHQR
YDVHV
$&($$% VLQRHVWÒGLVSRಢ FXEULUÒODJDUDQWÞDGHOYHKÞFXOR
QLEOHHODFHLWHGHO 6LQRHVWÒVHJXURGHVLVXDFHLWHHVWÒ
$&($& PRWRUDSUREDGRSRU DSUREDGRVHJëQODVHVSHFLILFDFLRQHV
$3,60 GH[RV GHGH[RVSUHJëQWHOHDVXSURYHHGRU
$3,61 GHVHUYLFLRV
 6HUYLFLR\PDQWHQLPLHQWR

8VRGHDFHLWHVGHPRWRUDOWHUQDWLYRV GDâRVHQHOPRWRUDODUJRSOD]RHQ )XQFLRQDPLHQWRFRQWHPSHUDWXUDV


VLQRKD\DFHLWHGH[RV(QHOFDVRGH GHWHUPLQDGDVFRQGLFLRQHVGHIXQFLRಢ EDMDV
TXHQRSXHGDHQFRQWUDUDFHLWHGHO QDPLHQWR (QXQD]RQDPX\IUÞDGRQGHODWHPಢ
PRWRUDSUREDGRSRUGH[RVSDUDFDPಢ SHUDWXUDFDHSRUGHEDMRGH¡&VH
ELDUHODFHLWHRSDUDUHOOHQDUGHEH $GLWLYRVGHODFHLWHGHOPRWRU
SXHGHXVDUXQDFHLWH6$(:8Q
XVDUXQDFHLWHGHOPRWRUDOWHUQDWLYR (OXVRGHDGLWLYRVGHODFHLWHGHOPRWRU DFHLWHFRQHVWHJUDGRGHYLVFRVLGDG
FRQODVFDUDFWHUÞVWLFDVPHQFLRQDGDV SRGUÞDFDXVDUGDâRV\DQXODUODJDಢ DUUDQFDUÒPHMRUHQIUÞRFXDQGRHOPRಢ
PÒVDUULED1RREVWDQWHVLXWLOL]D UDQWÞD WRUHVWÚDWHPSHUDWXUDVPX\EDMDV
DFHLWHVTXHQRFXPSOHQODVHVSHFLILಢ &XDQGRVHOHFFLRQHXQDFHLWHFRQHO
FDFLRQHVGHGH[RVHOUHQGLPLHQWR *UDGRVGHYLVFRVLGDGGHODFHLWHGH
PRWRU JUDGRGHYLVFRVLGDGDGHFXDGRDVHಢ
SXHGHUHVXOWDUDIHFWDGRHQGHWHUPLಢ JëUHVHGHHOHJLUVLHPSUHXQDFHLWH
QDGDVFLUFXQVWDQFLDV TXHFXPSODODVHVSHFLILFDFLRQHVGH
GH[RV
5HSRVLFLäQGHODFHLWHGHPRWRU
6HSXHGHQPH]FODUDFHLWHVPRWRUGH ࿢ +DVWD¡&\PHQRV:
GLIHUHQWHVIDEULFDQWHV\PDUFDV :
VLHPSUHTXHFXPSODQORVUHTXLVLWRV ࿢ +DVWD¡&::
GHODFHLWHGHOPRWRU FDOLGDG\YLVFRಢ ࿢ +DVWD¡&::
VLGDG  VäORSDUD/;7 
6LQRKD\GLVSRQLEOHDFHLWHGHODFDOLಢ ࿢ +DVWD¡&::
GDGUHTXHULGDVHSXHGHXVDUKDVWD VäORSDUD/;7 
XQPÒ[LPRGHOLWURGH
$&($$%R$% VäORXQDYH] (OJUDGRGHYLVFRVLGDG6$(LQIRUPD
HQWUHFDGDFDPELRGHDFHLWH /DYLVಢ VREUHODIOXLGH]GHODFHLWH(ODFHLWH
FRVLGDGGHEHVHUGHOJUDGRFRUUHFWR 6$(:HVHOPHMRUJUDGRGHYLVಢ PXOWLJUDGRVHLGHQWLILFDPHGLDQWHGRV
FRVLGDGSDUDHOYHKÞFXOR FLIUDV
6HSURKÞEHHOXVRGHDFHLWHGHOPRWRU
FRQFDOLGDG$&($$%R$%VRಢ 1RXWLOLFHDFHLWHVGHJUDGRVGHYLVFRಢ
ODPHQWH\DTXHVHSXHGHQRFDVLRQDU VLGDGFRPR6$(::R
:
6HUYLFLR\PDQWHQLPLHQWR 

/DSULPHUDFLIUDVHJXLGDSRUXQD: &RQHOWLHPSRHOOÞTXLGRGHIUHQRV
LQGLFDODYLVFRVLGDGDEDMDVWHPSHUDಢ DEVRUEHKXPHGDGTXHUHGXFHODHILಢ
WXUDV\ODVHJXQGDFLIUDLQGLFDODYLVಢ FDFLDGHOVLVWHPDGHIUHQRV3RUHVR
FRVLGDGDDOWDVWHPSHUDWXUDV VHGHEHVXVWLWXLUHOOÞTXLGRGHIUHQRV
HQHOLQWHUYDORHVSHFLILFDGR
5HIULJHUDQWH\DQWLFRQJHODQWH (OOÞTXLGRGHIUHQRVGHEHJXDUGDUVH
8VHVRODPHQWHUHIULJHUDQWHGHODUJD HQXQHQYDVHFHUUDGRSDUDHYLWDUOD
GXUDFLäQVLQVLOLFDWRV //& DQWLFRQಢ DEVRUFLäQGHDJXD
JHODQWHDSUREDGRSDUDHOYHKÞFXOR
$VHJëUHVHGHTXHHOOÞTXLGRGHIUHQRV
5HFXUUDDXQWDOOHU
QRVHFRQWDPLQH
(OVLVWHPDVHOOHQDHQIÒEULFDFRQUHಢ
IULJHUDQWHTXHRIUHFHXQDH[FHOHQWH $WHQFLäQ
SURWHFFLäQDQWLFRUURVLYD\DQWLFRQJHಢ
ODQWHKDVWDXQRV¡&(VWDFRQಢ (OXVRGHXQOÞTXLGRGHIUHQRVGLVಢ
FHQWUDFLäQGHEHUÞDPDQWHQHUVHGXಢ WLQWRDOUHFRPHQGDGRSRU*0
UDQWHWRGRHODâR(OXVRGHDGLWLYRV SXHGHFDXVDUFRUURVLäQDORVFRPಢ
SDUDHOUHIULJHUDQWHGHVWLQDGRVD SRQHQWHVGHOVLVWHPDGHIUHQRV
RIUHFHUSURWHFFLäQDGLFLRQDOFRQWUDOD /DFRUURVLäQSXHGHLPSHGLUHOIXQಢ
FRUURVLäQRDVHOODUIXJDVPHQRUHV FLRQDPLHQWRFRUUHFWRGHOVLVWHPD
SXHGHFDXVDUSUREOHPDVGHIXQFLRಢ GHIUHQRV\SRGUÞDFDXVDUXQDFRಢ
QDPLHQWR(OIDEULFDQWHQRVHKDFH OLVLäQ
UHVSRQVDEOHGHODVFRQVHFXHQFLDV
GHOXVRGHDGLWLYRVSDUDHOUHIULJHಢ
UDQWH

/ÞTXLGRGHIUHQRV\HPEUDJXH
8WLOLFHVäOROÞTXLGRGHIUHQRV'27
 'DWRVWÚFQLFRV

'DWRVWÚFQLFRV ,GHQWLILFDFLäQGHO 3ODFDGHFDUDFWHUÞVWLFDV


YHKÞFXOR 9DULDQWH
,GHQWLILFDFLäQGHOYHKÞFXOR   1ëPHURGHLGHQWLILFDFLäQ
'DWRVGHOYHKÞFXOR   GHOYHKÞFXOR

/DSODFDGHFDUDFWHUÞVWLFDVHVWÒVLಢ
WXDGDHQHOFRPSDUWLPHQWRGHOPRWRU

(OQëPHURGHLGHQWLILFDFLäQGHOYHಢ
KÞFXORHVWÒVLWXDGRHQHOSLVRGHOYHಢ
KÞFXORHQHOODGRGHUHFKRGHEDMRGH
XQDWDSDHQWUHODSXHUWDGHODQWHUD\
HODVLHQWR
'DWRVWÚFQLFRV 

9DULDQWH  &DUJDPÒ[LPDDGPLVLEOHHQHO
HMHWUDVHUR HQNJ
 'DWRVHVSHFÞILFRVGHOYHKÞFXOR
RGHOSDÞVUHVSHFWLYDPHQWH
/DVXPDGHODVFDUJDVVREUHHOHMH
GHODQWHUR\WUDVHURQRGHEHH[FHGHU
HOSHVRPÒ[LPRDXWRUL]DGRGHOYHಢ
KÞFXOR3RUHMHPSORVLHOHMHGHODQಢ
WHURVRSRUWDODFDUJDPÒ[LPDDGPLVLಢ
EOHHOWUDVHURVäORSRGUÒOOHYDUXQD
FDUJDLJXDODOSHVRPÒ[LPRDXWRULಢ
]DGRPHQRVODFDUJDVREUHHOHMHGHಢ
,QIRUPDFLäQGHODHWLTXHWDGHFDUDFಢ ODQWHUR
WHUÞVWLFDV /RVGDWRVWÚFQLFRVVHGHWHUPLQDQ
/DSODFDGHFDUDFWHUÞVWLFDVVHHQಢ
FXHQWUDHQHOPDUFRGHODSXHUWDGHಢ  1ëPHURGHLGHQWLILFDFLäQGHOYHಢ FRQIRUPHDODVQRUPDVGHOD8QLäQ
ODQWHUDL]TXLHUGD KÞFXOR (XURSHD4XHGDUHVHUYDGRHOGHUHಢ
 1ëPHURGHKRPRORJDFLäQGH FKRDLQWURGXFLUPRGLILFDFLRQHV/DV
WLSR HVSHFLILFDFLRQHVFRQWHQLGDVHQODGRಢ
 )DEULFDQWH FXPHQWDFLäQGHOYHKÞFXORVLHPSUH
 3HVRPÒ[LPRDXWRUL]DGR WLHQHQSULRULGDGUHVSHFWRDORVGDWRV
HQNJ IDFLOLWDGRVHQHVWHPDQXDO
 3HVRPÒ[LPRDXWRUL]DGRFRQ
UHPROTXH HQNJ
 &DUJDPÒ[LPDDGPLVLEOHHQHO
HMHGHODQWHUR HQNJ
 'DWRVWÚFQLFRV

'DWRVGHOYHKÞFXOR
'DWRVGHOPRWRU
'HVLJQDFLäQFRPHUFLDO 7 ' ' '
'LVWLQWLYRGHOPRWRU /8- /;7 /'( +
1ëPHURGHFLOLQGURV    
&LOLQGUDGD>FP@    
3RWHQFLDGHOPRWRU>N:@    
DUSP     
3DU>1P@    
DUSP      
7LSRGHFRPEXVWLEOH *DVROLQD *DVROLQD *DVROLQD *DVROLQD

 6äORSDUD%UXQÚL
'DWRVWÚFQLFRV 

2FWDQDMH 521 HVSHFÞILFRSRUSDÞVHVSDUDPRWRUHVGHJDVROLQD


2FWDQDMH 521 3DÞV
 $OEDQLD$QGRUUD$UJHQWLQD$UPHQLD$XVWULD%DKUÚLQ%LHORUUXVLD%ÚOJLFD%HUPXGDV%RVQLD
+HU]HJRYLQD%UXQHL%XOJDULD&KLOH&URDFLD&KLSUH5HSëEOLFD&KHFD'LQDPDUFD(VWRQLD)LQODQGLD
)UDQFLD$OHPDQLD*UHFLD+XQJUÞD,VODQGLD,UODQGD,VUDHO,WDOLD-RUGDQLD.XZDLW/ÞEDQR/LELD
/LWXDQLD/X[HPEXUJR0DFHGRQLD0DODVLD0DOWD0DXULFLR0DUUXHFRV3DÞVHV%DMRV1XHYD
&DOHGRQLD1RUXHJD2PÒQ3DQDPÒ3HUë3RORQLD3RUWXJDO4DWDU5XPDQÞD$UDELD6DXGLWD6HUELD
6LQJDSXU(VORYDTXLD(VORYHQLD6XGÒIULFD(VSDâD6XHFLD6XL]D7DLZÒQ7XUTXÞD8FUDQLD(PLUDWRV
²UDEHV8QLGRV ($8 5HLQR8QLGR9HQH]XHOD<XJRVODYLD
 $IJDQLVWÒQ$UJHOLD$QJROD$XVWUDOLD%DKDPDV%DQJODGHVK%DUEDGRV%HOLFH&DPHUëQ&DQDGÒ
&DER9HUGH&DULEH&RVWD5LFD5HSëEOLFD'HPRFUÒWLFDGHO&RQJR5HSëEOLFD'RPLQLFDQD(JLSWR(O
6DOYDGRU)L\L*DEäQ*KDQD*XDP*XDWHPDOD*XLQHD*XLQHD%LVVDX+DLWÞ+RQGXUDV,QGLD
,QGRQHVLD,UDN &RVWDGH0DUILO.D]DMVWÒQ.HQLD/LEHULD0Ú[LFR1HSDO3DSëD1XHYD*XLQHD
9DQXDWX1LFDUDJXD1LJHULD)LOLSLQDV5XVLD6UL/DQND6LULD7DLODQGLD7ULQLGDG7ëQH]9LHWQDP
 %ROLYLD&RORPELD(FXDGRU(ULWUHD(WLRSÞD-DPDLFD0DGDJDVFDU3DNLVWÒQ6HQHJDO
 8]EHNLVWÒQ<HPHQ

 (Q,UDTVHGHEHXWLOL]DUVäORFRPEXVWLEOHFRQXQRFWDQDMH521RVXSHULRU\SUHPLXP
 'DWRVWÚFQLFRV

3UHVWDFLRQHV
SXHUWDV
0RWRU /8- /;7 /'( +
0DQHMRGHOYRODQWH +36(36 +36(36
9HORFLGDGPÒ[LPD >NPK@
&DPELRPDQXDO ಥ   
&DPELRDXWRPÒWLFR ಥ   

9HUVLäQSXHUWDV
0RWRU /;7 /'( +
0DQHMRGHOYRODQWH +36(36 +36(36
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO ಥ  
&DPELRDXWRPÒWLFR ಥ  

 +36'LUHFFLäQDVLVWLGDKLGUÒXOLFD(36'LUHFFLäQDVLVWLGDHOÚFWULFD
 /DYHORFLGDGPÒ[LPDLQGLFDGDVHSXHGHDOFDQ]DUFRQHOSHVRHQYDFÞR VLQFRQGXFWRU PÒVNJGHFDUJDëWLO
(OHTXLSDPLHQWRRSFLRQDOSXHGHUHGXFLUODYHORFLGDGPÒ[LPDLQGLFDGD
 9DORUQRGLVSRQLEOHHQODIHFKDGHLPSUHVLäQ
 9DORUQRGLVSRQLEOHHQODIHFKDGHLPSUHVLäQ
'DWRVWÚFQLFRV 

6WDWLRQ:DJRQ
0RWRU /'( +
0DQHMRGHOYRODQWH +36(36 +36(36
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO  
&DPELRDXWRPÒWLFR ಥಥ 
 'DWRVWÚFQLFRV

3HVRVGHOYHKÞFXOR
3HVRHQYDFÞRPRGHOREÒVLFRVLQQLQJëQHTXLSDPLHQWRRSFLRQDO
(OSHVRHQYDFÞRLQFOX\HORVSHVRVFDOFXODGRVSDUDHOFRQGXFWRU NJ HOHTXLSDMH NJ \WRGRVORVOÞTXLGRV GHSäVLWR
OOHQRDO 
SXHUWDV
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /8- ಥ ಥ
>NJ@ /;7  
/'(  
+  

9HUVLäQSXHUWDV
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /;7 ಥ ಥ
>NJ@ /'(  
+  

 9DORUQRGLVSRQLEOHHQODIHFKDGHLPSUHVLäQ
'DWRVWÚFQLFRV 

6WDWLRQ:DJRQ
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /'(  ಥ
>NJ@ +  

3HVRHQYDFÞRPRGHOREÒVLFRFRQWRGRHOHTXLSDPLHQWRRSFLRQDO
(OSHVRHQYDFÞRLQFOX\HORVSHVRVFDOFXODGRVSDUDHOFRQGXFWRU NJ HOHTXLSDMH NJ \WRGRVORVOÞTXLGRV GHSäVLWR
OOHQRDO 
SXHUWDV
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /8- ಥ ಥ
>NJ@ /;7  
/'(  
+  

 9DORUQRGLVSRQLEOHHQODIHFKDGHLPSUHVLäQ
 'DWRVWÚFQLFRV

9HUVLäQSXHUWDV
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /;7 ಥ ಥ
>NJ@
/'(  
+  

6WDWLRQ:DJRQ
0RWRU &DPELRPDQXDO &DPELRDXWRPÒWLFR
VLQFRQDLUHDFRQGLFLRQDGR /'(  ಥ
>NJ@ +  

'LPHQVLRQHVGHOYHKÞFXOR
SXHUWDV 9HUVLäQSXHUWDV 6WDWLRQ:DJRQ
/RQJLWXG>PP@   
$QFKXUDVLQUHWURYLVRUHVH[WHULRUHV>PP@   
$QFKXUDFRQGRVUHWURYLVRUHVH[WHULRUHV>PP@   
$OWXUD VLQDQWHQD >PP@   

 9DORUQRGLVSRQLEOHHQODIHFKDGHLPSUHVLäQ
'DWRVWÚFQLFRV 

SXHUWDV 9HUVLäQSXHUWDV 6WDWLRQ:DJRQ


/RQJLWXGGHOSLVRGHOFRPSDUWLPHQWRGHFDUJD>PP@   
$QFKXUDGHOFRPSDUWLPHQWRGHFDUJD>PP@   
$OWXUDGHOFRPSDUWLPHQWRGHFDUJD>PP@   
'LVWDQFLDHQWUHHMHV>PP@   
'LÒPHWURGHJLUR>P@   
 'DWRVWÚFQLFRV

&DSDFLGDGHV
$FHLWHGHOPRWRU
0RWRU /8- /;7 /'( +
LQFOXLGRHOILOWUR>O@    
HQWUH0,1\0$;>O@    

'HSäVLWRGHFRPEXVWLEOH
*DVROLQDGLÚVHOFDSDFLGDGQRPLQDO>O@ 
'DWRVWÚFQLFRV 

3UHVLRQHVGHORVQHXPÒWLFRV
0RWRU 1HXPÒWLFRV GHODQWH GHWUÒV
>N3DEDU@ >SVL@  >N3DEDU@ >SVL@
/8- 5    
5
5
5
/;7 5    
5
5
/'( 5    
5
5
+ 5    
5
5
7RGRV 5XHGDGHHPHUJHQFLD    

 3UHVLäQ(FR  >N3DEDU@ >SVL@ 


 ,QIRUPDFLäQGHFOLHQWHV

5HJLVWURGHGDWRVGHO VLVWHPDVGHGLDJQRVLVJOREDOGH&KHಢ
,QIRUPDFLäQGH YUROHWFXDQGRHOYHKÞFXORVHUHYLVDHQ
FOLHQWHV YHKÞFXOR\SULYDFLGDG XQWDOOHUSDUDGRFXPHQWDUHOKLVWRULDO
GHVHUYLFLRGHOYHKÞFXOR(VWRSHUPLWH
5HJLVWUDGRUHVGHGDWRV DOWDOOHURIUHFHUOHXQVHUYLFLRGHPDQಢ
(OYHKÞFXORSRVHHXQDVHULHGHDYDQಢ WHQLPLHQWR\UHSDUDFLäQPÒVHILಢ
]DGRVVLVWHPDVTXHVXSHUYLVDQ\ FLHQWHDGDSWDGRDVXYHKÞFXORFDGD
FRQWURODQGLIHUHQWHVGDWRVGHOYHಢ YH]TXHYXHOYDDOWDOOHU
KÞFXOR$OJXQRVGDWRVVHJXDUGDQGXಢ (OIDEULFDQWHQRDFFHGHUÒDORVGDWRV
UDQWHHOIXQFLRQDPLHQWRQRUPDOGHO VREUHHOFRPSRUWDPLHQWRGHOFRQGXFಢ
YHKÞFXORSDUDIDFLOLWDUODVUHSDUDFLRಢ WRUHQFDVRGHDFFLGHQWHQLORVIDFLOLಢ
QHVGHORVIDOORVGHWHFWDGRVRWURVGDಢ WDUÒDWHUFHURVH[FHSWR
WRVVRQDOPDFHQDGRVVäORHQFDVRGH ࿢ FRQDXWRUL]DFLäQGHOSURSLHWDULRGHO
DFFLGHQWHRLQFLGHQWHHQORVVLVWHPDV YHKÞFXORRHQYHKÞFXORVGHOHDVLQJ
GHOYHKÞFXORTXHWLHQHQXQDIXQFLäQ FRQODGHODUUHQGDWDULR
GHUHJLVWURGHGDWRVWDOHVFRPRHO
PäGXORGHFRQWUROGHORVDLUEDJV ࿢ SRUUHTXHULPLHQWRSROLFLDORGHRUಢ
JDQLVPRVHVWDWDOHVHTXLYDOHQWHV
/RVVLVWHPDVSXHGHQUHJLVWUDUGDWRV
GHGLDJQäVWLFRVREUHHOHVWDGRGHOYHಢ ࿢ FRPRSDUWHGHODGHIHQVDHQFDVR
KÞFXOR SHMQLYHOGHDFHLWHRNLORPHಢ GHSURFHVRMXGLFLDOFRQWUDHOIDEULಢ
WUDMH HLQIRUPDFLäQVREUHVXPDQHMR FDQWH
SHMUÚJLPHQGHOPRWRUDFFLRQDಢ ࿢ SRUSUHVFULSFLäQOHJDO
PLHQWRGHORVIUHQRV\XWLOL]DFLäQGH
ORVFLQWXURQHVGHVHJXULGDG 
3DUDODOHFWXUDGHHVWRVGDWRVVRQ
QHFHVDULRVHTXLSRVHVSHFLDOHV\DFಢ
FHVRDOYHKÞFXOR$OJXQRVGDWRVVH
WUDQVPLWHQHOHFWUäQLFDPHQWHDORV
,QIRUPDFLäQGHFOLHQWHV 

$GHPÒVHOIDEULFDQWHSRGUÒXWLOL]DU ,GHQWLILFDFLäQSRU
ORVGDWRVUHFRSLODGRV\UHFLELGRV
࿢ FRQILQHVGHLQYHVWLJDFLäQSURSLD
UDGLRIUHFXHQFLD 5),'
/DWHFQRORJÞD5),'VHXWLOL]DHQDOಢ
࿢ SDUDIDFLOLWDUORVFRQILQHVGHLQYHVಢ
JXQRVYHKÞFXORVSDUDIXQFLRQHV
WLJDFLäQVLHPSUHTXHVHJDUDQWLFH
FRPRHOFRQWUROGHODSUHVLäQGHORV
ODFRQILGHQFLDOLGDG\VHGHPXHVWUH
QHXPÒWLFRV\ODVHJXULGDGGHOVLVಢ
ODQHFHVLGDG
WHPDGHHQFHQGLGR6HXWLOL]DWDPಢ
࿢ SDUDFRPSDUWLUFRQRWUDVRUJDQL]Dಢ ELÚQHQRSFLRQHVGHFRQIRUWFRPRORV
FLRQHVFRQMXQWRVGHGDWRVQRYLQಢ PDQGRVDGLVWDQFLDSDUDHOEORTXHR\
FXODGRVDXQYHKÞFXORHVSHFÞILFR GHVEORTXHRGHSXHUWDV\HODUUDQTXH
FRQILQHVGHLQYHVWLJDFLäQ DGLVWDQFLDDVÞFRPRHQORVWUDQVPLಢ
VRUHVLQVWDODGRVHQHOYHKÞFXORSDUD
DEULUSXHUWDVGHFRFKHUDV/DWHFQRಢ
ORJÞD5),'HQORVYHKÞFXORV&KHYUROHW
QRXWLOL]DQLUHJLVWUDLQIRUPDFLäQSHUಢ
VRQDOQLWLHQHFRQH[LäQFRQFXDOTXLHU
RWURVLVWHPD&KHYUROHWTXHFRQWHQJD
LQIRUPDFLäQSHUVRQDO


¾QGLFHDOIDEÚWLFR $ $UUDQTXHGHOPRWRU 


$FFHVRULRV\PRGLILFDFLRQHVGHO $UUDQTXH\PDQHMR 
YHKÞFXOR  $VLHQWRVGHODQWHURV 
$FHLWHGHOPRWRU  $VLHQWRVWUDVHURV 
$FWLYDFLäQGHODUDGLR  $VLVWHQWHGHDSDUFDPLHQWR 
$FWLYDFLäQGHOUHSURGXFWRUGH&'  $VLVWHQWHGHDSDUFDPLHQWRSRU
$FWLYDUHOUHFRQRFLPLHQWRGHYR]  XOWUDVRQLGRV 
$FWLYDUHPLVRUDVJXDUGDGDV  $VLVWHQWHGHIUHQDGD 
$FWXDOL]DFLäQGHOLVWDVGH $YHUÞD 
HPLVRUDV  $YLVRVDFëVWLFRV 
$LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV 
%
$LUHDFRQGLFLRQDGR  %DWHUÞD 
$MXVWHGHODVLHQWRHOÚFWULFR  %ORTXHRDXWRPÒWLFR 
$MXVWHGHORVDVLHQWRV  %OXHWRRWK 
$MXVWHGHORVUHSRVDFDEH]DV  %RFLQD 
$MXVWHGHORVUHWURYLVRUHV  %RWLTXÞQ 
$MXVWHGHOYRODQWH  %ëVTXHGDGHHPLVRUDV 
$MXVWHGHOYROXPHQ  &
$MXVWHHOÚFWULFR  &DGHQDVSDUDQLHYH 
$MXVWHVGHOWRQR  &ÒPDUDUHWURYLVRUD 
$MXVWHVGHOYROXPHQ  &DMDGHFDPELRV 
$MXVWHVPHPRUL]DGRV  &DMDGHIXVLEOHVGHO
$OHUWDGHSXQWRFLHJRODWHUDO  FRPSDUWLPHQWRGHOPRWRU 
$OVDOLUGHYLDMH  &DMDGHIXVLEOHVGHOWDEOHURGH
$QWLGHVOXPEUDPLHQWRDXWRPÒWLFR  LQVWUXPHQWRV 
$QWLGHVOXPEUDPLHQWRPDQXDO  &DOHIDFWRUDX[LOLDU 
$UJROODV  &DPELRDXQDPDUFKDPÒVODUJD 
$UUDQTXHFRQFDEOHV  &DPELRDXWRPÒWLFR 


&DPELRGHOWDPDâRGH &RPSUREDFLRQHVGHOYHKÞFXOR  &XHQWDNLOäPHWURV 


QHXPÒWLFRV\OODQWDV  &RQH[LäQ  &XHQWDNLOäPHWURVSDUFLDO 
&DPELRGHUXHGDV  &RQH[LäQ%OXHWRRWK  &XHQWDUUHYROXFLRQHV 
&DPELRPDQXDO  &RQH[LäQ%OXHWRRWK༨  &XLGDGRH[WHULRU 
&DSDFLGDGHV  &RQH[LäQGHODUDGLR  &XLGDGRLQWHULRU 
&DSä  &RQH[LäQGHXQGLVSRVLWLYRGH
&DSäDELHUWR  PëVLFD%OXHWRRWK  '
&DUDFWHUÞVWLFDVGHODLOXPLQDFLäQ  &RQILJXUDFLäQGHPëVLFD 'DWRVGHOPRWRU 
&DUJDGHOWHFKR  %OXHWRRWK  'DWRVHVSHFÞILFRVGHOYHKÞFXOR 
&DUJDUODEDWHUÞDGHOWHOÚIRQR  &RQPXWDGRUGHODVOXFHV  'HVDFWLYDFLäQGHORVDLUEDJV 
&DWDOL]DGRU  &RQVHUYDFLäQGHODVSHFWR  'HVEORTXHRGHOYHKÞFXOR 
&HQWURGHLQIRUPDFLäQGHO &RQWURODXWRPÒWLFRGHODVOXFHV  'HVLJQDFLRQHVGHORV
FRQGXFWRU  &RQWUROGHODLOXPLQDFLäQGHO QHXPÒWLFRV 
&LHUUHFHQWUDOL]DGR  WDEOHURGHLQVWUXPHQWRV  'LPHQVLRQHVGHOYHKÞFXOR 
&LQWXUäQDEGRPLQDO  &RQWUROGHOWHOÚIRQR  'LUHFFLäQDVLVWLGD 
&LQWXUäQGHVHJXULGDG  &RQWUROGHOYHKÞFXOR  'LVSRVLWLYRDQWLUURER 
&LQWXUäQGHVHJXULGDGGHWUHV &RQWUROHOHFWUäQLFRGH (
SXQWRV  HVWDELOLGDG  (OHYDOXQDVHOÚFWULFRV 
&LQWXURQHVGHVHJXULGDG  &RQWUROHOHFWUäQLFRGH (PSDUHMDPLHQWRGHXQ
&OLPDWL]DFLäQ  HVWDELOLGDGGHVDFWLYDGR  GLVSRVLWLYRGHPëVLFD
&OLPDWL]DGRUDXWRPÒWLFR &RQWUROHOHFWUäQLFRGH %OXHWRRWK 
HOHFWUäQLFR  HVWDELOLGDG\VLVWHPDGH (QFHQGLGR\DSDJDGRGHO
&RPEXVWLEOH  FRQWUROGHWUDFFLäQ  VLVWHPDGHLQIRHQWUHWHQLPLHQWR 
&RPEXVWLEOHSDUDPRWRUHVGH &RUWHGHFRPEXVWLEOHHQ (QWUDGD$8;
JDVROLQD  UÚJLPHQGHUHWHQFLäQ  FRQH[LäQ 
&RPEXVWLEOHSDUDPRWRUHV &XELHUWDGHOFRPSDUWLPHQWRGH (QWUDGDGHDLUH 
GLÚVHO  FDUJD  (VWDFLRQDPLHQWR 
&RPSDUWLPHQWRGHFDUJD  &XELHUWDGHOSRUWDREMHWRVGHO ([WLQWRU 
&RPSDUWLPHQWRVSRUWDREMHWRV  PDOHWHUR 


) , /
)DURV  ,GHQWLILFDFLäQSRU /LPSLDODYDOXQHWD 
)DURVDQWLQLHEOD  UDGLRIUHFXHQFLD 5),'   /LPSLDODYDSDUDEULVDV 
)DURVHPSDâDGRV  ,OXPLQDFLäQGHHQWUDGD  /ÞTXLGRGHIUHQRV 
)DURVHQYLDMHVDOH[WUDQMHUR  ,OXPLQDFLäQGHOWDEOHURGH /ÞTXLGRGHIUHQRV\HPEUDJXH 
)DURVKDOäJHQRV  LQVWUXPHQWRV  /ÞTXLGRGHODGLUHFFLäQDVLVWLGD  
)LOWURGHDLUHGHOPRWRU  ,OXPLQDFLäQGHVDOLGD  /ÞTXLGRGHODYDGR 
)LOWURGHSDUWÞFXODVGLÚVHO  ,OXPLQDFLäQH[WHULRU  /ÞTXLGRV\OXEULFDQWHV
)LOWURGHSROHQ  ,OXPLQDFLäQLQWHULRU  UHFRPHQGDGRV 
)RUPDFRQYH[D  ,QGLFDFLäQGHVHUYLFLR  /LVWDVGHIDYRULWRV 
)UHQRGHHVWDFLRQDPLHQWR  ,QGLFDGRUGHFRPEXVWLEOH  /LVWDVGHPHPRUL]DFLäQ
)UHQRGHPDQR  ,QGLFDGRUGHWHPSHUDWXUDGHO DXWRPÒWLFD 
)UHQRV  UHIULJHUDQWHGHOPRWRU  /ODQWDV\QHXPÒWLFRV 
)XQFLRQDPLHQWREÒVLFR  ,QGLFDGRUHV  /ODYHV 
)XQFLRQDPLHQWRGHORVPHQëV    ,QIRUPDFLäQGHVHUYLFLR  /ODYHV༨FHUUDGXUDV 
)XQFLRQDPLHQWRUHJXODUGHODLUH ,QIRUPDFLäQJHQHUDO /XFHVDQWLQLHEOD 
DFRQGLFLRQDGR   /XFHVGHDGYHUWHQFLD 
)XVLEOHV  ,QIRUPDFLäQVREUHODFDUJD  /XFHVGHHPHUJHQFLD 
,QLFLRGHODUHSURGXFFLäQGH&'  /XFHVGHOHFWXUD 
* ,QPRYLOL]DFLäQGHOYHKÞFXOR  /XFHVGHPDUFKDDWUÒV 
*DWR  ,QPRYLOL]DGRU  /XFHVHQORVSDUDVROHV 
*XDQWHUD  ,QWHUPLWHQWHV  /XFHVH[WHULRUHV 
*XDUGDUHPLVRUDV  ,QWHUPLWHQWHVODWHUDOHV  /XFHVLQWHULRUHV 
+ ,QWHUUXSFLäQGHFRUULHQWH  /XFHVODWHUDOHV 
+HUUDPLHQWDV  ,QWURGXFFLäQ  /XFHVWUDVHUDV 
+HUUDPLHQWDVGHOYHKÞFXOR  /XQHWDWÚUPLFDWUDVHUD 
- /X]GHFDUUHWHUD 
-XHJRGHUHSDUDFLäQGH /X]GHODPDWUÞFXOD 
QHXPÒWLFRV 


0 3HOLJUR$GYHUWHQFLD\$WHQFLäQ  3XHUWDDELHUWD 
0DQGRDGLVWDQFLD  3HUVRQDOL]DFLäQ  3XHUWDV 
0DQGR%$&.  3HUVRQDOL]DFLäQGHOYHKÞFXOR  3XHUWR86%
0DQGR0(18  3HVRVGHOYHKÞFXOR  GLVSRVLWLYRVFRPSDWLEOHV 
0DQGRV  3LORWRDQWLQLHEOD  LQIRUPDFLäQLPSRUWDQWH 
0DQGRVHQHOYRODQWH  3ODFDGHFDUDFWHUÞVWLFDV  UHSURGXFLUDUFKLYRVGHDXGLR
0DQHMR  3OHJDGR  JXDUGDGRV 
0HQVDMHVGHOYHKÞFXOR  3RUWDHTXLSDMHVGHWHFKR  3XUJDGHOVLVWHPDGH
0HQëVGHEDQGDVGHIUHFXHQFLDV  3RUWDREMHWRV  FRPEXVWLEOHGLÚVHO 
0RGRGHPDQRVOLEUHV  3RUWDREMHWRVGHOUHSRVDEUD]RV 
0RGRPDQXDO  3RUWDREMHWRVHQHOWDEOHURGH 4
LQVWUXPHQWRV  4XLFNKHDW 
1 3RUWDREMHWRVWUDVHUR 
1HXPÒWLFRVGHLQYLHUQR 
5
3RUWDYDVRV  5DGLR
1LYHOGHFRPEXVWLEOHEDMR  3RVLFLäQGHDVLHQWR 
1ëPHURGHLGHQWLILFDFLäQGHO DFWLYDFLäQ 
3RVLFLRQHVGHODFHUUDGXUDGHO EëVTXHGDGHHPLVRUDV 
YHKÞFXOR  HQFHQGLGR  OLVWDVGHHPLVRUDV 
2 3RVLFLRQHVGHPRQWDMHGHO /LVWDVGHIDYRULWRV 
VLVWHPDGHUHWHQFLäQLQIDQWLO  OLVWDVGHPHPRUL]DFLäQ
2SHUDFLäQGHXQGLVSRVLWLYRGH
3UHFDOHQWDPLHQWR  DXWRPÒWLFD 
PëVLFD%OXHWRRWK 
3UHVLäQGHDFHLWHGHOPRWRU  PDQHMR 
2UGHQDGRUGHDERUGR 
3UHVLäQGHORVQHXPÒWLFRV  PHQëVGHEDQGDVGH
3 3UHVLRQHVGHORVQHXPÒWLFRV  IUHFXHQFLDV 
3DODQFDVHOHFWRUD  3UHVWDFLRQHV  VHOHFFLäQGHODEDQGDGH
3DQWDOODGHLQIRUPDFLäQJUÒILFD 3URIXQGLGDGGHOGLEXMR  IUHFXHQFLDV 
SDQWDOODGHLQIRUPDFLäQHQFRORU  3URJUDPDVHOHFWUäQLFRVGH 5ÒIDJDV 
3DQWDOODLQGLFDGRUDGHOFDPELR  PDUFKD  5HDOL]DFLäQGHWUDEDMRV 
3DQWDOODVGHLQIRUPDFLäQ  3URWHFFLäQFRQWUDGHVFDUJDGH 5HFRPHQGDFLRQHVSDUDOD
3DUDVROHV  ODEDWHUÞD  FRQGXFFLäQ 


5HFRQRFLPLHQWRGHYR]  5HWURYLVRUHVWÚUPLFRV  6LVWHPDGHFDUJD 


DFWLYDFLäQ  5HYLVLäQXUJHQWHGHOYHKÞFXOR  6LVWHPDGHFRQWUROGHWUDFFLäQ  
FRQWUROGHOWHOÚIRQR  5RGDMHGHXQYHKÞFXORQXHYR  6LVWHPDGHFRQWUROGHWUDFFLäQ
PDQHMR  5XHGDGHUHSXHVWR  GHVDFWLYDGR 
YROXPHQGHODVDOLGDGHYR]  6LVWHPDGHGHWHFFLäQGHREMHWRV 
5HFRUGDWRULRGHOFLQWXUäQGH 6 6LVWHPDGHHVFDSHGHOPRWRU 
VHJXULGDG  6DOLGDVGHDLUH  6LVWHPDGHIUHQRV\HPEUDJXH   
5HGGHVHJXULGDG  6DOLGDVGHDLUHILMDV  6LVWHPDGHLQIRHQWUHWHQLPLHQWR
5HIULJHUDQWHGHOPRWRU  6DOLGDVGHDLUHUHJXODEOHV  DMXVWHGHOYROXPHQ 
5HIULJHUDQWH\DQWLFRQJHODQWH  6HJXULGDGGHOYHKÞFXOR  DMXVWHVGHOWRQR 
5HJLVWUDGRUHVGHGDWRV  6HJXURVSDUDQLâRV  DMXVWHVGHOYROXPHQ 
5HJXODGRUGHYHORFLGDG  6HOHFFLäQGHODEDQGDGH FRQH[LäQ 
5HORM  IUHFXHQFLDV  HOHPHQWRVGHFRQWURO 
5HPROFDGR  6HQVRUGHFDOLGDGGHODLUH  PDQGRVGHDXGLRGHOYRODQWH  
5HPROFDGRGHOYHKÞFXOR  6HQVRUGHOOXYLD  PDQHMR 
5HPROFDGRGHRWURYHKÞFXOR  6HâDOL]DFLäQGHJLURV\FDPELRV SDQHOGHLQVWUXPHQWRV 
5HSRVDEUD]RV  GHFDUULO  SHUVRQDOL]DFLäQ 
5HSRVDFDEH]DV  6HUYLFLR  VLOHQFLR 
5HSRVWDMH  6LOHQFLR  YROXPHQFRPSHQVDGRGH
5HSURGXFLUDUFKLYRVGHDXGLR 6ÞPERORV  YHORFLGDG 
JXDUGDGRV  6LVWHPDDQWLEORTXHRGHIUHQRV   YROXPHQHQIXQFLäQGHOD
5HSURGXFWRUGH&' 6LVWHPDDQWLEORTXHRGHIUHQRV YHORFLGDG 
DFWLYDFLäQ  $%6   YROXPHQLQLFLDOPÒ[LPR 
LQIRUPDFLäQLPSRUWDQWH  6LVWHPDGHDLUEDJV  6LVWHPDGHOODYHHOHFWUäQLFD 
PDQHMR  6LVWHPDGHDLUEDJVGHFRUWLQD  6LVWHPDHOÚFWULFR 
5HVXPHQGHORVHOHPHQWRVGH 6LVWHPDGHDLUEDJVIURQWDOHV  6LVWHPDVGHFOLPDWL]DFLäQ 
FRQWURO  6LVWHPDGHDLUEDJVODWHUDOHV  6LVWHPDVGHFRQWUROGHOD
5HWURYLVRUHVH[WHULRUHV  6LVWHPDGHDODUPDDQWLUURER  FRQGXFFLäQ 
5HWURYLVRUHVLQWHULRUHV  6LVWHPDGHFDOHIDFFLäQ\ 6LVWHPDVGHUHWHQFLäQLQIDQWLO 
YHQWLODFLäQ 


6LVWHPDVGHUHWHQFLäQLQIDQWLO 7HVWLJRGHDYHUÞDV 
FRQDQFODMHVVXSHULRUHV  7HVWLJRVGHFRQWURO 
6LVWHPDVGHUHWHQFLäQLQIDQWLO 7RPDVGHFRUULHQWH 
,62),;  7ULÒQJXORGHDGYHUWHQFLD 
6LVWHPDVOLPSLD\ODYDSDUDEULVDV 
6LVWHPDVWRSVWDUW  8
6XVWLWXFLäQGHERPELOODV  8VRGHODHQWUDGD$8; 
6XVWLWXFLäQGHODVHVFRELOODV  8VRGHODUDGLR 
8VRGHOSUHVHQWHPDQXDO 
7 8VRGHOSXHUWR86% 
7DSDFXERV  8VRGHOUHSURGXFWRUGH&' 
7DSLFHUÞD  8VRGHOVLVWHPDGH
7HFKR  LQIRHQWUHWHQLPLHQWR 
7HFKRVRODU 
7HOÚIRQR 9
DJHQGDWHOHIäQLFD  9HORFÞPHWUR 
DMXVWDUORVWRQRVGHOODPDGD    9HQWDQLOODV 
DMXVWHGHOYROXPHQ  9HQWLODFLäQ 
%OXHWRRWK  9LVWDGHOFRPSDUWLPHQWRGHO
FDUJDUODEDWHUÞD  PRWRU 
&RQH[LäQ%OXHWRRWK  9LVWDJHQHUDOGHOWDEOHURGH
HOHPHQWRVGHFRQWURO  LQVWUXPHQWRV 
IXQFLRQHVGXUDQWHXQDOODPDGD  9ROXPHQFRPSHQVDGRGH
LQIRUPDFLäQLPSRUWDQWH  YHORFLGDG 
OLVWDVGHOODPDGDV  9ROXPHQGHODVDOLGDGHYR] 
PDUFDUXQQëPHUR 
PRGRGHPDQRVOLEUHV 
7HOÚIRQRVPäYLOHV\
UDGLRWUDQVPLVRUHV 
7HPSHUDWXUDH[WHULRU 

Segunda Sección
&RQWHQLGR 0</LQN  
6LVWHPDGHDXGLR  
0</LQN ,QWURGXFFLäQ  
5DGLR  
'LVSRVLWLYRVH[WHUQRV  
7HOÚIRQR  
¾QGLFHDOIDEÚWLFR  
 ,QWURGXFFLäQ

,QWURGXFFLäQ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
SXHGHUHSURGXFLUORVFRQWHQLGRVGH
'LVSRVLWLYRDQWLUURER
XQGLVSRVLWLYRGHDOPDFHQDPLHQWR (OVLVWHPDGHLQIRHQWUHWHQLPLHQWRGLVಢ
86%RXQL3RGL3KRQH SRQHGHXQVLVWHPDGHVHJXULGDG
,QIRUPDFLäQJHQHUDO   /DIXQFLäQGHFRQH[LäQGHOWHOÚIRQR HOHFWUäQLFRLQVWDODGRSDUDHYLWDUURಢ
%OXHWRRWKSHUPLWHUHFLELUOODPDGDV ERV
'LVSRVLWLYRDQWLUURER  
LQDOÒPEULFDVFRQPDQRVOLEUHV\XVDU (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
5HVXPHQGHORVHOHPHQWRVGH
XQUHSURGXFWRUGHPëVLFDGHOWHOÚಢ VäORIXQFLRQDHQHOYHKÞFXORGRQGHVH
FRQWURO  
IRQR LQVWDOäLQLFLDOPHQWH\QRVHSRGUÒ
0DQHMR   XVDUHQFDVRGHURER
7DPELÚQSXHGHFRQHFWDUXQUHSURಢ
3HUVRQDOL]DFLäQ   GXFWRUGHPëVLFDSRUWÒWLODODHQWUDGD Este manual describe funciones con
DX[LOLDUGHVRQLGR\GLVIUXWDUGHOH[ಢ las que puede o no puede estar
FHOHQWHVRQLGRGHOVLVWHPDGHLQIRHQಢ equipado su vehículo, bien sea
WUHWHQLPLHQWR porque se trate de equipos
,QIRUPDFLäQJHQHUDO
opcionales que no fueron adquiri-
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR ࿢ /DVHFFLäQ,QIRUPDFLäQJHQHUDO dos con el vehículo o debido a
SURSRUFLRQDLQIRUPDFLäQ\HQWUHWHQLಢ SURSRUFLRQDLQIRUPDFLäQVHQFLOOD cambios posteriores a la impresión
PLHQWRHQVXYHKÞFXORXVDQGRODWHFಢ GHODVIXQFLRQHVGHOVLVWHPDGHLQಢ
QRORJÞDPÒVDYDQ]DGD de este Manual de Propietario.
IRHQWUHWHQLPLHQWR\XQUHVXPHQGH
WRGRVORVGLVSRVLWLYRVGHFRQWURO Consulte la documentación de
Acuda a su Distribuidor Autorizado GM. compra que se refiera a las especifi-
para que actualice y mejore el sistema o ࿢ /DVHFFLäQ0DQHMRH[SOLFDORV caciones de su vehículo para
el software, solo si su radio presenta FRQWUROHVEÒVLFRVGHOVLVWHPDGHLQಢ
confirmar cada una de las funciones
comportamiento extraño. IRHQWUHWHQLPLHQWR
encontradas en el vehículo.
/DUDGLRSXHGHXVDUVHIÒFLOPHQWHUHಢ
JLVWUDQGRKDVWDHPLVRUDVGH)0R
$0FRQORVERWRQHVGHSUHVLQWRQÞD
aGHODVVLHWHSÒJLQDV
,QWURGXFFLäQ 

5HVXPHQGHORV 1RWD 0DQGRDGLVWDQFLDHQHOYRODQWH


Despendiendo de la región y nivel
HOHPHQWRVGHFRQWURO de equipamiento, es posible que la
función de enlace con smartphone
3DQHOGHPDQGRV
no esté disponible.
 ,QGLFDFLäQ
3DQWDOODGHHVWDGRHLQIRUPDFLäQ
GHUHSURGXFFLäQUHFHSFLäQPHQë
 %RWRQHVฎ92/ฏ YROXPHQ
3XOVHฎSDUDVXELUHOYROXPHQ
3XOVHฏSDUDEDMDUHOYROXPHQ
 %RWäQP HQFHQGLGRDSDJDGR
0DQWHQJDSXOVDGRHVWHERWäQ  %RWäQZ OODPDU
SDUDHQFHQGHUDSDJDUODXQLGDG ဈ 6LQRKD\QLQJëQGLVSRVLWLYR
 %RWäQ LQLFLR %OXHWRRWKHPSDUHMDGRFRQHO
3XOVHHVWHERWäQSDUDLUDOPHQë VLVWHPDGHLQIRHQWUHWHQLPLHQWR
7LSR )0$086%L3RG$8;
%OXHWRRWK,PDJHQ9ÞGHR GHLQLFLR 5HDOL]DODFRQH[LäQFRQHOGLVಢ
(QODFHFRQVPDUWSKRQH SRVLWLYR%OXHWRRWK
ဈ 6LKD\XQGLVSRVLWLYR%OXHWRRWK
7LSR )0$05'686%L3RG HPSDUHMDGRFRQHOVLVWHPDGH
$8;%OXHWRRWK,PDJHQ LQIRHQWUHWHQLPLHQWR
9ÞGHR(QODFHFRQ
VPDUWSKRQH 3XOVHHVWHERWäQSDUDFRQWHVWDU
DODOODPDGDRHQWUDUHQHOPRGR
GHVHOHFFLäQGHUHOODPDGD
 ,QWURGXFFLäQ

6LHOWHOÚIRQRFRQHFWDGRHV ဈ 6LVHSXOVDHQHOPRGRGHL3RG 0DQHMR


FRPSDWLEOHFRQHOUHFRQRFLಢ L3KRQHUHSURGXFHODFDQFLäQ
PLHQWRGHYR]PDQWHQJDSXOಢ DQWHULRURVLJXLHQWH (QFHQGLGRDSDJDGRGHO
VDGRHOERWäQSDUDDFWLYDUHO ဈ 6LVHSXOVDHQHOPRGRGHPëಢ VLVWHPD
PRGRGHUHFRQRFLPLHQWRGHYR] VLFD%OXHWRRWKUHSURGXFHOD
65 GHOWHOÚIRQR ࿢ 0DQWHQJDSXOVDGRHOERWäQPHQHO
PëVLFDDQWHULRURVLJXLHQWH SDQHOGHPDQGRVSDUDHQFHQGHUOD
 %RWäQ[Q VLOHQFLRFROJDU ဈ 6LVHPDQWLHQHSXOVDGRHQHO XQLGDG6HUHSURGXFLUÒODëOWLPD
3XOVHHVWHERWäQHQFXDOTXLHU PRGRGH)0$0H[SORUDUÒಢ IXHQWHGHDXGLRRYÞGHR
PRGRGHUHSURGXFFLäQGHPëVLFD SLGDPHQWHODVHPLVRUDVPLHQಢ ࿢ 0DQWHQJDSXOVDGRHOERWäQPHQHO
SDUDDFWLYDU\GHVDFWLYDUODIXQಢ WUDVVHPDQWLHQHSXOVDGRHOERಢ SDQHOGHPDQGRVSDUDDSDJDUOD
FLäQGHVLOHQFLR WäQ8QDYH]VROWDGREXVFDDXಢ XQLGDG6HPXHVWUDQODKRUDODIHಢ
3XOVHHVWHERWäQSDUDUHFKD]DU WRPÒWLFDPHQWHXQDHPLVRUD FKD\ODWHPSHUDWXUDHQODSDQWDOOD
OODPDGDVHQWUDQWHVRSDUDILQDOLಢ TXHVHSXHGDUHFLELU
]DUODOODPDGDDFWXDO ဈ 6LVHPDQWLHQHSXOVDGRHQHO
 %RWäQ65& PRGRGH0386%L3RGL3ಢ
KRQHH[SORUDUÒSLGDPHQWHKDಢ
3XOVHHVWHERWäQSDUDFDPELDUOD FLDGHODQWHRKDFLDDWUÒVPLHQಢ
IXHQWH WUDVVHPDQWLHQHSXOVDGRHOERಢ
%RWäQ56 EXVFDU WäQ8QDYH]VROWDGRYXHOYHD
ဈ 6LVHSXOVDHQHOPRGRGH)0 ODUHSURGXFFLäQQRUPDO
$0UHFLEHODHPLVRUDSUHVLQWRಢ  %RWRQHV YROXPHQ
QL]DGDDQWHULRURVLJXLHQWH 3XOVHHOERWäQ워SDUDVXELUHOYRಢ
ဈ 6LVHSXOVDHQHOPRGRGH03 OXPHQ
86%UHSURGXFHHODUFKLYRDQಢ 3XOVHHOERWäQ웎SDUDEDMDUHOYRಢ
WHULRURVLJXLHQWH OXPHQ
,QWURGXFFLäQ 

1RWD &RQWUROGHYROXPHQ PLHQWRVHDMXVWDDXWRPÒWLFDPHQWH


/DWHPSHUDWXUDVHPXHVWUDFXDQGR 3XOVHฎ92/ฏHQHOSDQHOGHPDQGRV HOVLVWHPDGHLQIRHQWUHWHQLPLHQWRDO
ODFHUUDGXUDGHOHQFHQGLGR OODYHGHO SDUDDMXVWDUHOYROXPHQ6HPXHVWUD QLYHOGHYROXPHQLQLFLDOPÒ[LPR
HQFHQGLGRGHOYHKÞFXOR HVWÒHQOD HOYROXPHQGHVRQLGRDFWXDO
SRVLFLäQ21 6,/(1&,2
3XOVHฎ92/ฏHQHOSDQHOGHPDQGRV
(QFHQGLGRDSDJDGR \OXHJRSXOVHSSDUDDFWLYDU\GHVDFಢ
DXWRPÒWLFR WLYDUODIXQFLäQGHVLOHQFLR
&XDQGRODFHUUDGXUDGHOHQFHQGLGR
OODYHGHOHQFHQGLGRGHOYHKÞFXOR
HVWÒHQODSRVLFLäQ$&&X21HOVLVಢ
WHPDGHLQIRHQWUHWHQLPLHQWRVHHQಢ
FLHQGHDXWRPÒWLFDPHQWH
&XDQGRODFHUUDGXUDGHOHQFHQGLGR
OODYHGHOHQFHQGLGRGHOYHKÞFXOR
HVWÒHQODSRVLFLäQ2))\HOXVXDULR
DEUHODSXHUWDGHOYHKÞFXORHOVLVWHPD
GHLQIRHQWUHWHQLPLHQWRVHDSDJDDXಢ ࿢ 8VDQGRHOPDQGRDGLVWDQFLDHQHO
WRPÒWLFDPHQWH YRODQWHSXOVHSDUDDMXVWDUHO
1RWD YROXPHQ
6LHOXVXDULRPDQWLHQHSXOVDGRHO ࿢ 6LVHHQFLHQGHHOVLVWHPDGHLQಢ
ERWäQPHQHOSDQHOGHPDQGRV IRHQWUHWHQLPLHQWRHOQLYHOGHYROXಢ &RQWURODXWRPÒWLFRGHOYROXPHQ
FXDQGRODFHUUDGXUDGHOHQFHQGLGR PHQYXHOYHDODVHOHFFLäQDQWHULRU 8QDYH]DFWLYDGDODFRQILJXUDFLäQGHO
OODYHGHOHQFHQGLGRGHOYHKÞFXOR VLHPSUHTXHVHDLQIHULRUDOYROXಢ YROXPHQGHVRQLGRVHJëQODYHORFLಢ
HVWÒHQODSRVLFLäQ2))HOVLVWHPD PHQLQLFLDOPÒ[LPR  GDGHOYROXPHQVHUHJXODUÒDXWRPÒಢ
GHLQIRHQWUHWHQLPLHQWRVHHQFLHQGH WLFDPHQWHVHJëQODYHORFLGDGGHOYHಢ
࿢ 6LHOQLYHOGHOYROXPHQHVVXSHULRU
6LQHPEDUJRHOVLVWHPDGHLQIRHQಢ KÞFXORSDUDFRPSHQVDUHOUXLGRGHO
DOYROXPHQLQLFLDOPÒ[LPRDOHQFHQಢ
WUHWHQLPLHQWRVHDSDJDUÒDXWRPÒWLಢ PRWRU\ORVQHXPÒWLFRV
GHUHOVLVWHPDGHLQIRHQWUHWHQLಢ
FDPHQWHDOFDERGHPLQXWRV
 ,QWURGXFFLäQ

 3XOVHHQHOSDQHOGHPDQGRV 6äORSDUDHOPRGHORGHWLSR ဈ 3XOVHWHOÚIRQRSDUDDFWLYDUODV


 3XOVHDMXVWHV!DMXVWHVGHOD  6HOHFFLRQH'HVDFWLYDGR%DMR IXQFLRQHVGHOWHOÚIRQR VLHVWÒ
UDGLR!YROXPHQDXWRPÒWLFR 0HGLR$OWRSXOVDQGRR! FRQHFWDGR 
ဈ 3XOVHHQODFHFRQVPDUWSKRQH
8VRGHOPHQëGHLQLFLR SDUDDFWLYDUXQDDSOLFDFLäQD
WUDYÚVGHXQVPDUWSKRQHFRಢ
 3XOVHHQHOSDQHOGHPDQGRV QHFWDGR'HSHQGLHQGRGHODUHಢ
JLäQHVSRVLEOHTXHHVWDIXQಢ
FLäQQRVHDFRPSDWLEOH/DDSOLಢ
FDFLäQGHVRSRUWHSXHGHYDULDU
GHSHQGLHQGRGHODUHJLäQ
ဈ 3XOVHDMXVWHVSDUDDEULUHO
PHQëGHFRQILJXUDFLäQGHOVLVಢ
WHPD

6äORSDUDHOPRGHORGHWLSR 6HOHFFLäQGHIXQFLRQHV
$XGLR
 3XOVHHQHOSDQHOGHPDQGRV
 3XOVHHOPHQëGHVHDGR  3XOVHDXGLRHQHOPHQëGHLQLFLR
ဈ 3XOVHDXGLRSDUDVHOHFFLRQDUOD 3XOVH)XHQWH6HQODSDQWDOOD
UHSURGXFFLäQGH)0$086%
L3RGPëVLFD%OXHWRRWKRODHQಢ
WUDGDDX[LOLDU $8; GHVRQLGR
ဈ 3XOVHIRWRV\YÞGHRVSDUDYHU
IRWRVYÞGHRVRODHQWUDGDDX[Lಢ
OLDU $8; GHYÞGHR
,QWURGXFFLäQ 

1RWD ဈ 3XOVH86% IRWRV SDUDYHUDUಢ


3XOVHTSDUDYROYHUDOPHQëGHLQLಢ FKLYRVGHLPDJHQJXDUGDGRVHQ
FLR HOGLVSRVLWLYRGHDOPDFHQDಢ
6LODIXHQWHGHUHSURGXFFLäQ 86% PLHQWR86%
L3RG$8;%OXHWRRWK QRHVWÒFRಢ ဈ 3XOVH86% YÞGHRV SDUDYHUDUಢ
QHFWDGDDOVLVWHPDGHLQIRHQWUHWHQLಢ FKLYRVGHYÞGHRJXDUGDGRVHQ
PLHQWRHVWDIXQFLäQQRHVWDUÒGLVಢ HOGLVSRVLWLYRGHDOPDFHQDಢ
SRQLEOH PLHQWR86%
)RWRV\YÞGHRV ဈ 3XOVH$8; YÞGHRV SDUDYHUDUಢ
 3XOVHHQHOSDQHOGHPDQGRV FKLYRVGHYÞGHRFRQHFWDGRVDO
GLVSRVLWLYRDX[LOLDU $8; GHYÞಢ
 3XOVHIRWRV\YÞGHRVHQHOPHQë GHR
ဈ 3XOVH$0SDUDVHOHFFLRQDUOD GHLQLFLR
UDGLRGH$0 1RWD
 3XOVH)XHQWH6HQODSDQWDOOD
ဈ 3XOVH)0SDUDVHOHFFLRQDUOD 3XOVHTSDUDYROYHUDOPHQëGHLQLಢ
UDGLRGH)0 FLR
ဈ 3XOVH86%SDUDVHOHFFLRQDU 6LODIXHQWHGHUHSURGXFFLäQ>86%
86% IRWRV 86% YÞGHRV $8; YÞಢ
GHRV @QRHVWÒFRQHFWDGDDOVLVWHPD
ဈ 3XOVHL3RGSDUDVHOHFFLRQDUXQ GHLQIRHQWUHWHQLPLHQWRHVWDIXQFLäQ
L3RGL3KRQH QRHVWDUÒGLVSRQLEOH
ဈ 3XOVH$8;SDUDVHOHFFLRQDUOD
HQWUDGDDX[LOLDU $8; GHVRಢ 7HOÚIRQRPDQRVOLEUHV%OXHWRRWK
QLGR 3DUDXWLOL]DUODIXQFLäQGHPDQRVOLಢ
EUHV%OXHWRRWKFRQHFWHHOWHOÚIRQR
ဈ 3XOVH%OXHWRRWKSDUDUHSURGXFLU %OXHWRRWKDOVLVWHPDGHLQIRHQWUHWHQLಢ
PëVLFD%OXHWRRWK PLHQWR
 3XOVHHQHOSDQHOGHPDQGRV
 ,QWURGXFFLäQ

 3XOVHWHOÚIRQRHQHOPHQëGHLQLಢ (QODFHFRQVPDUWSKRQH
FLR 1RWD
'HSHQGLHQGRGHODUHJLäQHVSRVLಢ
EOHTXHHVWDIXQFLäQQRVHDFRPSDಢ
WLEOH
,QVWDOHODDSOLFDFLäQHQVXVPDUWSಢ
KRQHSDUDXWLOL]DUHVWDIXQFLäQ\OXHJR
FRQHFWHVXVPDUWSKRQH\HOVLVWHPD
GHLQIRHQWUHWHQLPLHQWRPHGLDQWHHO
SXHUWR86%RODWHFQRORJÞDLQDOÒPಢ
EULFD%OXHWRRWK
࿢ L3KRQHFRQH[LäQ86% 1RWD
࿢ 7HOÚIRQR$QGURLGWHFQRORJÞDLQDಢ 3XOVHTSDUDYROYHUDOPHQëGHLQLಢ
1RWD OÒPEULFD%OXHWRRWK FLR
3XOVHTSDUDYROYHUDOPHQëGHLQLಢ  3XOVHHQHOSDQHOGHPDQGRV $MXVWHV
FLR  3XOVHHQODFHFRQVPDUWSKRQHHQ  3XOVHHQHOSDQHOGHPDQGRV
6LVXWHOÚIRQR%OXHWRRWKQRHVWÒFRಢ HOPHQëGHLQLFLR  3XOVHDMXVWHVHQHOPHQëGHLQLಢ
QHFWDGRDOVLVWHPDGHLQIRHQWUHWHQLಢ FLR
PLHQWRHVWDIXQFLäQQRHVWDUÒGLVಢ
SRQLEOH3DUDPÒVGHWDOOHVFRQVXOWH
ODVHFFLäQ(PSDUHMDU\FRQHFWDU
GLVSRVLWLYRV%OXHWRRWK 
,QWURGXFFLäQ 

 3XOVHDMXVWHV

ဈ DMXVWHHOIRUPDWRGHKRUD6Hಢ
OHFFLRQHHOIRUPDWRGHKR
3HUVRQDOL]DFLäQ  6HOHFFLRQHHODMXVWHGHVHDGR K
1RWD ဈ DMXVWHHOIRUPDWRGHIHFKD&RQಢ
)XQFLRQDPLHQWRJHQHUDOGHO
/RVPHQëVGHFRQILJXUDFLäQ\ODV ILJXUHHOIRUPDWRGHIHFKD
PHQëGHDMXVWHV IXQFLRQHVGLVSRQLEOHVSXHGHQYDULDU
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWRVH >$$$$00''@
VHJëQODVRSFLRQHVGHVXYHKÞFXOR
SXHGHSHUVRQDOL]DUSDUDIDFLOLWDUVX >''00$$$$@
XVR $MXVWHVGHKRUD\IHFKD
>00''$$$$@
 3XOVHHQHOSDQHOGHPDQGRV  3XOVHHQHOSDQHOGHPDQGRV
 3XOVHDMXVWHV!DMXVWHVGHKRUD\
IHFKD
 ,QWURGXFFLäQ

ဈ DMXVWHKRUD\IHFKD$MXVWHPDಢ 7$6HOHFFLRQH$FWLYDGRR
QXDOPHQWHODVKRUDV\ORVPLQXಢ 'HVDFWLYDGR
WRVDFWXDOHVDVÞFRPRHODâRHO 9ROXPHQ736HOHFFLRQHHQWUH
PHV\HOGÞDSXOVDQGRฎ\ฏ G%\G%
OXHJRSXOVH2.
UDGLRWH[WR3DUDYHUUDGLRಢ
ဈ VLQFURQL]DFLäQDXWRPÒWLFDGHO WH[WRVHOHFFLRQH$FWLYDGRR
UHORM3XOVH$FWLYDGRSDUDPRVಢ 'HVDFWLYDGR
WUDUHOUHORMXVDQGRODKRUD\OD
IHFKD5'6\ODKRUD\ODIHFKD UHJLRQDO$MXVWHODRSFLäQUHಢ
*363XOVH'HVDFWLYDGRSDUD JLRQDO 5(* D$FWLYDGRR
PRVWUDUHOUHORMXVDQGRODKRUD 'HVDFWLYDGR
y la fecha GPS (sólo para el 5'6$MXVWHODIXQFLäQ5'6D
modelo de tipo 2). ဈ YROXPHQDXWRPÒWLFR5HJXOD $FWLYDGRR'HVDFWLYDGR
DXWRPÒWLFDPHQWHHOYROXPHQ EORTXHRGHGHVSOD]DPLHQWR
1RWD VHJëQODYHORFLGDGGHOYHKÞFXOR GH3616HOHFFLRQH$FWLYDGRR
$MXVWHSULPHURODKRUDSDUDPRVWUDU 6HOHFFLRQH'HVDFWLYDGR%DMR 'HVDFWLYDGR
ODKRUDFRQILJXUDGDSRUHOXVXDULR 0HGLR$OWR
ဈ DMXVWHVGHIÒEULFDGHODUDGLR
$MXVWHVGHODUDGLR ဈ EDUUDGHVLQWRQL]DFLäQGHOD 3DUDUHVWDEOHFHUORVYDORUHVGH
UDGLR3DUDYHUODEDUUDGHVLQಢ FRQILJXUDFLäQLQLFLDODORVDMXVಢ
 3XOVHHQHOSDQHOGHPDQGRV WRQL]DFLäQGHODUDGLRSDUDVHಢ WHVSUHGHWHUPLQDGRVGHIÒEULFD
 3XOVHDMXVWHV!DMXVWHVGHOD OHFFLRQDUXQDHPLVRUDVHOHFಢ
UDGLR FLRQH$FWLYDGRR'HVDFWLYDGR $MXVWHVGHFRQH[LäQ
ဈ 2SFLäQ5'6 VäORSDUDHOPRಢ
GHORGHWLSR $EUHHOPHQëGH  3XOVHHQHOSDQHOGHPDQGRV
RSFLRQHV5'6(OPHQëGHRSಢ  3XOVHDMXVWHV!DMXVWHVGH
FLRQHV5'6VäORVHPXHVWUDHQ FRQH[LäQ
DOJXQRVSDÞVHVGRQGHVHDGಢ
PLWHGLFKDIXQFLäQ
,QWURGXFFLäQ 

ဈ FDPELDUHOWRQRGHOODPDGD6Hಢ 'HVSOD]DPLHQWRGHWH[WR
OHFFLRQHHOWRQRGHOODPDGDGHಢ
VHDGR  3XOVHHQHOSDQHOGHPDQGRV
ဈ YROXPHQGHOWRQRGHOODPDGD  3XOVHDMXVWHV
&DPELHHOYROXPHQGHOWRQRGH  3XOVH6
OODPDGD  6HOHFFLRQH$FWLYDGRR
'HVDFWLYDGR
/HQJXDMH
 3XOVHHQHOSDQHOGHPDQGRV
 3XOVHDMXVWHV!LGLRPD
 6HOHFFLRQHXQLGLRPDPRVWUDGR
ဈ DMXVWHVGH%OXHWRRWK$EUHHO HQHOVLVWHPDGHLQIRHQWUHWHQLಢ
PHQëGHDMXVWHVGH%OXHWRRWK PLHQWR
HPSDUHMDUGLVSRVLWLYR6HOHFಢ
FLRQHHOGLVSRVLWLYRGHVHDGR
SDUDFRQHFWDUORGHVFRQHFWDUOR
RHOLPLQDUOR
FDPELDUFäGLJR3,1&DPELHR
FRQILJXUHPDQXDOPHQWHHOFäಢ ဈ $FWLYDGR6LVHPXHVWUDXQ
GLJR3,1 WH[WRODUJRHQODSDQWDOODGHDXಢ
GHWHFWDEOH3DUDHVWDEOHFHUOD GLRHOWH[WRVHGHVSOD]D
FRQH[LäQ%OXHWRRWKGHVGHVX ဈ 'HVDFWLYDGR(OWH[WRVHGHVಢ
WHOÚIRQR%OXHWRRWKVHOHFFLRQH SOD]DXQDYH]\VHPXHVWUDHQ
$FWLYDGRR'HVDFWLYDGR IRUPDWUXQFDGD
LQIRUPDFLäQGHOGLVSRVLWLYR
&RPSUXHEHODLQIRUPDFLäQGHO
GLVSRVLWLYR
 ,QWURGXFFLäQ

Sonido al pulsar 9ROXPHQLQLFLDOPÒ[LPR 9HUVLäQGHOVLVWHPD


(OQLYHOGHYROXPHQHPLWLGRDOHQFHQಢ
 3XOVHHQHOSDQHOGHPDQGRV  3XOVHHQHOSDQHOGHPDQGRV
GHUHOVLVWHPDGHLQIRHQWUHWHQLPLHQWR
 3XOVHDMXVWHV HVWÒGHWHUPLQDGRSRUHOYDORUGHOYRಢ  3XOVHDMXVWHV
 3XOVH6 OXPHQDMXVWDGRSRUHOXVXDULR  3XOVH6
 6HOHFFLRQH$FWLYDGRR $QWHVGHGHVFRQHFWDUHOHQFHQGLGR  6HOHFFLRQHYHUVLäQGHOVLVWHPD
'HVDFWLYDGR HODMXVWHGHOVLVWHPDGHLQIRHQWUHWHಢ
 &RPSUXHEHODYHUVLäQGHOVLVಢ
QLPLHQWRVäORVHPRGLILFDUÒVLHOYRಢ
WHPD
OXPHQDMXVWDGRSRUHOXVXDULRHVVXಢ
SHULRUDOYDORUGHDMXVWHGHOYROXPHQ
LQLFLDOPÒ[LPR
 3XOVHHQHOSDQHOGHPDQGRV
 3XOVHDMXVWHV
 3XOVH6
 6HOHFFLRQHa

ဈ $FWLYDGR6HHPLWHXQVRQLGR
FXDQGRHOXVXDULRSXOVDVREUH
ODSDQWDOOD 'LY; 5 92'
ဈ 'HVDFWLYDGR&DQFHODODIXQಢ
 3XOVHHQHOSDQHOGHPDQGRV
FLäQGHOVRQLGR
 3XOVHDMXVWHV
 3XOVH6
 6HOHFFLRQH'LY; 5 92'
,QWURGXFFLäQ 

OLFHODVHFFLäQ'LY;92'HQHOPHQë
GHFRQILJXUDFLäQGHOGLVSRVLWLYR9Lಢ
VLWHYRGGLY[FRPSDUDREWHQHUPÒV
LQIRUPDFLäQVREUHFäPRFRPSOHWDUVX
UHJLVWUR

$FHUFDGHOYÞGHR'LY;'LY;ŸHVXQ
IRUPDWRGHYÞGHRGLJLWDOFUHDGRSRU
'LY;//&XQDILOLDOGH5RYL&RUSRಢ
UDWLRQ(VWHGLVSRVLWLYRFXHQWDFRQOD
FHUWLILFDFLäQRILFLDO 'LY;&HUWLILHGŸ \
UHSURGXFHYÞGHR'LY;9LVLWH
GLY[FRPSDUDREWHQHUPÒVLQIRUPDಢ
FLäQ\KHUUDPLHQWDVGHVRIWZDUHSDUD
FRQYHUWLUVXVDUFKLYRVHQYÞGHRV
'LY;
$FHUFDGH'LY;YLGHRRQGHPDQG
(VWHGLVSRVLWLYR'LY;&HUWLILHGŸGHEH
UHJLVWUDUVHSDUDSRGHUUHSURGXFLUYÞಢ
GHRVGH'LY;9LGHRRQ'HPDQG
92' DOTXLODGRVRFRPSUDGRV3DUD
REWHQHUVXFäGLJRGHUHJLVWURORFDಢ
 5DGLR

5DGLR 5DGLR$0)0
7LSR )0$086%L3RG$8;
%OXHWRRWK,PDJHQ9ÞGHR
5DGLR$0)0   (QODFHFRQVPDUWSKRQH
$QWHQDGHPÒVWLOILMR   7LSR )0$05'686%L3RG
$QWHQDPXOWLEDQGD   $8;%OXHWRRWK,PDJHQ
9ÞGHR(QODFHFRQ
VPDUWSKRQH
Nota
Despendiendo de la región y nivel
de equipamiento, es posible que
la función de enlace con smartphone  3XOVH)0R$0HQODSDQWDOOD6H
no esté disponible. PXHVWUDODEDQGDGHUDGLRGH)0
R$0GHODëOWLPDHPLVRUDHVFXಢ
FKDGD
(VFXFKDUODUDGLRGH)0$0
 3XOVHHQHOSDQHOGHPDQGRV
 3XOVHDXGLRHQHOPHQëGHLQLFLR
 3XOVH)XHQWH6HQODSDQWDOOD
5DGLR 

1RWD %XVFDUHPLVRUDVXVDQGRORV ဈ 6HSXHGHQJXDUGDUKDVWDSÒಢ


3XOVHTSDUDYROYHUDOPHQëGHLQLಢ ERWRQHVGHSUHVLQWRQÞD JLQDVGHIDYRULWRV\FDGDSÒಢ
FLR JLQDSXHGHFRQWHQHUKDVWD
*XDUGDUORVERWRQHVGHSUHVLQWRQÞD FLQFRHPLVRUDVGHUDGLR
1RWD
/DIXQFLäQ5'6 5DGLR'DWD  6HOHFFLRQHODEDQGD )0R$0 ဈ 3DUDFDPELDUXQDSUHVLQWRQÞD
6\VWHP VäORHVWÒGLVSRQLEOHHQDOಢ HQODTXHGHVHDJXDUGDUXQDHPLಢ VLPSOHPHQWHWLHQHTXHVLQWRQLಢ
JXQRVSDÞVHVTXHDGPLWHQGLFKD VRUD ]DUODQXHYDHPLVRUDGHUDGLR
IXQFLäQ  6HOHFFLRQHODHPLVRUDGHVHDGD GHVHDGD\PDQWHQHUSXOVDGRHO
ERWäQ
%XVFDUHPLVRUDV  3XOVHR!SDUDVHOHFFLRQDUOD
DXWRPÒWLFDPHQWH SÒJLQDGHVHDGDGHORVIDYRULWRV (VFXFKDUGLUHFWDPHQWHODVHPLVRUDV
JXDUGDGRV SUHVLQWRQL]DGDV
࿢ 3XOVHW6((.YSDUDEXVFDUDXಢ
WRPÒWLFDPHQWHHPLVRUDVGLVSRQLಢ  3XOVHUHSHWLGDPHQWHR!SDUD
EOHVFRQEXHQDUHFHSFLäQ VHOHFFLRQDUODSÒJLQD)$9 )DYRಢ
ULWRV GHVHDGD
࿢ 3XOVH\DUUDVWUHKDFLDODL]TXLHUGD
RODGHUHFKDGHODHPLVRUDGHUDGLR  3XOVHXQERWäQGHSUHVLQWRQÞD
SDUDEXVFDUDXWRPÒWLFDPHQWHXQD SDUDHVFXFKDUGLUHFWDPHQWHOD
HPLVRUDGLVSRQLEOHFRQEXHQDUHಢ HPLVRUDGHUDGLRJXDUGDGDHQGLಢ
FHSFLäQ FKRERWäQ

%XVFDUHPLVRUDVPDQXDOPHQWH $XWRVWRUH
3XOVHUHSHWLGDPHQWHN781(O /DVHPLVRUDVFRQODPHMRUFDOLGDGGH
SDUDHQFRQWUDUPDQXDOPHQWHODHPLಢ UHFHSFLäQVHJXDUGDQDXWRPÒWLFDಢ
VRUDGHVHDGD PHQWHFRPRHPLVRUDVGHUDGLRHQHO
 0DQWHQJDSXOVDGRXQRGHORVERಢ RUGHQFRUUHVSRQGLHQWH
WRQHVGHSUHVLQWRQÞDSDUDJXDUGDU  6HOHFFLRQHODEDQGDGHVHDGD
ODHPLVRUDGHUDGLRDFWXDOHQGLಢ )0R$0 
FKRERWäQGHODSÒJLQDGHIDYRULಢ
WRVVHOHFFLRQDGD
 5DGLR

 3XOVH$6 1RWD 1RWD


3DUDDFWXDOL]DUODPHPRUL]DFLäQDXಢ /DIXQFLäQ37< WLSRGHSURJUDPD
WRPÒWLFDGH)0$0PDQWHQJDSXOಢ PXHVWUDORVWLSRVGHSURJUDPDV QRಢ
VDGR$6 WLFLDVGHSRUWHVPëVLFDHWF FRPR
6LHOXVXDULRSXOVD$6HQODSDQWDOOD XQRGHORVVHUYLFLRV5'6 5DGLR
GHUDGLRGH)0$0\QRKD\QLQಢ 'DWD6\VWHP 
JXQDHPLVRUDPHPRUL]DGDVHDFಢ 8VRGHOPHQëGHODUDGLRGH)0
WXDOL]DUÒODPHPRUL]DFLäQDXWRPÒಢ $0
WLFDGH)0$0
9HULQIRUPDFLäQGHODHPLVRUD )XQFLRQDPLHQWRJHQHUDOGHOPHQëGH
ODUDGLR
3XOVHODHPLVRUDHQODSDQWDOODGHUDಢ
GLR)0$0  6HOHFFLRQHODEDQGDGHVHDGD
)0R$0 
 3XOVHUHSHWLGDPHQWHR!SDUD  3XOVH0(18HQODSDQWDOODGHUDಢ
VHOHFFLRQDUODSÒJLQD$6 0HPRಢ GLR)0$0
UL]DFLäQDXWRPÒWLFD GHVHDGD
 3XOVHXQERWäQGHSUHVLQWRQÞD
SDUDHVFXFKDUGLUHFWDPHQWHOD
HPLVRUDGHUDGLRJXDUGDGDHQGLಢ
FKRERWäQ

/DLQIRUPDFLäQPRVWUDGDLQFOX\HOD
IUHFXHQFLDHOFäGLJR37< WLSRGH
SURJUDPD \UDGLRWH[WR
5DGLR 

 3XOVHHOPHQëGHVHDGRSDUDVHಢ /LVWDGHHPLVRUDVGH)0$0 PHQë 6HPXHVWUDODLQIRUPDFLäQGHOD


OHFFLRQDUODRSFLäQUHOHYDQWHR )0$0 OLVWDGHFDWHJRUÞDVGH)0
SDUDPRVWUDUHOPHQëGHWDOODGRGH  (QHOPHQë)0$0SXOVHOLVWD
GLFKDRSFLäQ GHHPLVRUDVGH)0OLVWDGH
 3XOVHGHQXHYRTSDUDYROYHUDO HPLVRUDVGH$0SDUDPRVWUDUOD
PHQëDQWHULRU OLVWDGHHPLVRUDVGH)0$0
6HPXHVWUDODLQIRUPDFLäQGHOD
/LVWDGHIDYRULWRV PHQë)0$0 OLVWDGHHPLVRUDV
 (QHOPHQë)0$0SXOVHOLVWD
GHIDYRULWRVSDUDPRVWUDUODOLVWD
GHIDYRULWRV
6HPXHVWUDODLQIRUPDFLäQGHOD
OLVWDGHIDYRULWRV

 8WLOLFH5R6SDUDGHVSOD]DUVH
SRUODOLVWD6HOHFFLRQHODHPLVRUD
GHVHDGDSDUDVLQWRQL]DUOD
1RWD
/DOLVWDGHFDWHJRUÞDVGH)0VäOR
HVWÒGLVSRQLEOHSDUD5'6 5DGLR
 8WLOLFH5R6SDUDGHVSOD]DUVH 'DWD6\VWHP 
SRUODOLVWD6HOHFFLRQHODHPLVRUD
$FWXDOL]DUODOLVWDGHHPLVRUDVGH)0
GHVHDGDSDUDVLQWRQL]DUOD
$0 PHQë)0$0
/LVWDGHFDWHJRUÞDVGH)0 PHQë)0  (QHOPHQë)0$0SXOVH
 (QHOPHQë)0SXOVHOLVWDGH DFWXDOL]DUOLVWDGHHPLVRUDVGH
 8WLOLFH5R6SDUDGHVSOD]DUVH
FDWHJRUÞDVGH)0 )0DFWXDOL]DUOLVWDGHHPLVRUDV
SRUODOLVWD6HOHFFLRQHODHPLVRUD GH$0
GHVHDGDSDUDVLQWRQL]DUOD
 5DGLR

PRGRGHFRQILJXUDFLäQGHOVRಢ ဈ $JXGRV$MXVWHHOQLYHOGHORV
QLGR DJXGRVGHD
$SDUHFHHOPHQëGHDMXVWHVGHO ဈ 'LVWULEXFLäQGHOYROXPHQGHಢ
WRQR ODQWHGHWUÒV$MXVWHHOEDODQFH
HQWUHORVDOWDYRFHVGHODSDUWH
GHODQWHUDWUDVHUD
ဈ %DODQFH$MXVWHHOEDODQFHHQಢ
WUHORVDOWDYRFHVGHOODGRL]ಢ
TXLHUGRGHUHFKR
ဈ 5HLQLFLR5HVWDEOHFHORVYDORಢ
UHVGHFRQILJXUDFLäQLQLFLDODORV
6HSURGXFHODDFWXDOL]DFLäQGHOD DMXVWHVSUHGHWHUPLQDGRVGHIÒಢ
OLVWDGHHPLVRUDV)0$0 EULFD
 'XUDQWHODDFWXDOL]DFLäQGHODOLVWD  3XOVH2.
GHHPLVRUDVGH)0$0SXOVH
&DQFHODUSDUDLPSHGLUTXHVH ဈ 0RGR(4 HFXDOL]DGRU 6HOHFಢ $QWHQDGHPÒVWLOILMR
JXDUGHQORVFDPELRV FLRQHRGHVDFWLYHHOHVWLORGH 3DUDGHVPRQWDUODDQWHQDGHOWHFKR
VRQLGR PDQXDOSRSURFN JÞUHODKDFLDODL]TXLHUGD3DUDPRQWDU
$MXVWHVGHOWRQR PHQë)0 country, clásica, conversación,
$0 ODDQWHQDGHOWHFKRJÞUHODKDFLDOD
etc.)usando < o > . GHUHFKD
(QHOPHQëGHDMXVWHVGHOWRQRVH ဈ 3XOVHRSDUDVHOHFFLRQDU
SXHGHQFRQILJXUDUGLIHUHQWHVFDUDFಢ PDQXDOPHQWHHOHVWLORGHVRಢ
WHUÞVWLFDVGHOVRQLGRSDUDHODXGLRGH QLGRGHVHDGR
)0$0\ODVIXQFLRQHVGHFDGDUHಢ
SURGXFWRUGHDXGLR ဈ *UDYHV$MXVWHHOQLYHOGHORV
JUDYHVGHD
 (QHOPHQë)0$0SXOVH
DMXVWHVGHOWRQRSDUDDFFHGHUDO ဈ 0HGLRV$MXVWHHOQLYHOGHORV
PHGLRVGHD
5DGLR 

$WHQFLäQ
Asegúrese de desmontar la an‐
tena antes de entrar en algún lu‐
gar con techo bajo para evitar da‐
ños.
Si utiliza centros de lavado auto‐
mático con la antena montada, se
pueden producir daños en la an‐
tena o en el panel del techo. Ase‐
gúrese de desmontar la antena
antes de entrar en el centro de la‐
vado automático.

$SULHWHELHQODDQWHQD\SäQJDODUHFWD
SDUDJDUDQWL]DUXQDEXHQDUHFHSFLäQ

$QWHQDPXOWLEDQGD
/DDQWHQDPXOWLEDQGDHVWÒHQHOWHಢ
FKRGHOYHKÞFXOR/DDQWHQDVHXVD
SDUDODUDGLR$0)0\HO*36 VLVಢ
WHPDGHSRVLFLRQDPLHQWRJOREDO VLHO
YHKÞFXORGLVSRQHGHHVWDVIXQFLRQHV
0DQWHQJDODDQWHQDOLEUHGHREVWUXFಢ
FLRQHVSDUDREWHQHUXQDUHFHSFLäQ
QÞWLGD
 'LVSRVLWLYRVH[WHUQRV

࿢ $XQTXHHVWHSURGXFWRSXHGHUHSURಢ
'LVSRVLWLYRVH[WHUQRV ,QIRUPDFLäQJHQHUDO
GXFLUDUFKLYRVFRQXQDWDVDGH
6LVWHPDGHDXGLR NESVDNESVORVDUFKLYRVFRQ
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR XQDWDVDVXSHULRUDNESVWHQಢ
,QIRUPDFLäQJHQHUDO   SXHGHUHSURGXFLUORVDUFKLYRVGHPëಢ GUÒQXQVRQLGRGHPHMRUFDOLGDG
5HSURGXFFLäQGHDXGLR   VLFDFRQWHQLGRVHQXQGLVSRVLWLYRGH ࿢ (VWHSURGXFWRSXHGHPRVWUDULQIRUಢ
DOPDFHQDPLHQWR86%RXQL3RGL3ಢ PDFLäQGHODVHWLTXHWDV,' YHUಢ
9LVXDOL]DFLäQGHLPÒJHQHV  
KRQH VLäQä SDUD
5HSURGXFLUYÞGHRV   DUFKLYRV03FRPRHOQRPEUHGHO
$GYHUWHQFLDVVREUHHOXVRGH ÒOEXP\HODUWLVWD
DUFKLYRV03:0$2**:$9 ࿢ 3DUDPRVWUDUODLQIRUPDFLäQGHOÒOಢ
࿢ (VWHSURGXFWRSXHGHUHSURGXFLUDUಢ EXP WÞWXORGHOGLVFR SLVWD WÞWXOR
FKLYRVGHPëVLFDFRQODVH[WHQVLRಢ GHODSLVWD \DUWLVWD DUWLVWDGHOD
QHVPSZPDRJJZDY OHWUDV SLVWD HODUFKLYRGHEHVHUFRPSDಢ
PLQëVFXODV WLEOHFRQORVIRUPDWRV9\9GH
R03:0$2**:$9 OHWUDV HWLTXHWDV,'
PD\ëVFXODV 
࿢ /RVDUFKLYRV03TXHSXHGHQUHಢ $GYHUWHQFLDVVREUHHOXVRGHO
SURGXFLUVHFRQHVWHSURGXFWRVRQ GLVSRVLWLYRGHDOPDFHQDPLHQWR86%
ORVVLJXLHQWHV \L3RGL3KRQH
7DVDGHELWVNESVaNESV ࿢ 1RVHSXHGHJDUDQWL]DUHOIXQFLRಢ
QDPLHQWRVLORVGLVSRVLWLYRVGHDOಢ
)UHFXHQFLDGHPXHVWUHRN+] PDFHQDPLHQWRPDVLYR86%FRQ
N+]N+] SDUD03(* GLVFRGXURLQWHJUDGRRWDUMHWDGH
DXGLROD\HU N+]N+] PHPRULD&)R6'VHFRQHFWDQPHಢ
N+] SDUD03(*DXGLRODಢ GLDQWHXQDGDSWDGRU86%8WLOLFH
\HU XQGLVSRVLWLYRGHDOPDFHQDPLHQWR
86%RFRQPHPRULDIODVK
'LVSRVLWLYRVH[WHUQRV 

࿢ 7HQJDFXLGDGRSDUDHYLWDUODGHVಢ ࿢ 6HJëQHOWLSR\FDSDFLGDGGHOGLVಢ ࿢ 6äORVHSXHGHFRQHFWDUXQGLVSRಢ


FDUJDGHHOHFWULFLGDGHVWÒWLFD SRVLWLYRGHDOPDFHQDPLHQWR86%\ VLWLYRGHDOPDFHQDPLHQWR86%D
FXDQGRFRQHFWHRGHVFRQHFWHHO HOWLSRGHDUFKLYRDOPDFHQDGR HVWHSURGXFWRFRQHOILQGHUHSURಢ
86%6LODFRQH[LäQ\GHVFRQH[LäQ SXHGHTXHYDUÞHHOWLHPSRTXHVH GXFLUPëVLFDRYÞGHRVYHUDUFKLYRV
VHUHSLWHYDULDVYHFHVHQXQEUHYH WDUGDHQUHFRQRFHUORVDUFKLYRV1R IRWRJUÒILFRVRDFWXDOL]DUHOVRIWಢ
HVSDFLRGHWLHPSRSXHGHTXHH[ಢ VHWUDWDGHXQSUREOHPDFRQHODSDಢ ZDUH
SHULPHQWHSUREOHPDVDODKRUDGH UDWRSRUORTXHGHEHHVSHUDUDTXH ࿢ (OWHUPLQDO86%GHOSURGXFWRQRGHಢ
XVDUHOGLVSRVLWLYR ORVDUFKLYRVVHSURFHVHQ EHUÞDXWLOL]DUVHSDUDFDUJDUHTXLSRV
࿢ 6LHOWHUPLQDOGHFRQH[LäQGHOGLVಢ ࿢ 3XHGHTXHQRVHUHFRQR]FDQORV DX[LOLDUHV86%SRUTXHODJHQHUDಢ
SRVLWLYR86%QRHVPHWÒOLFRQRVH DUFKLYRVHQDOJXQRVGLVSRVLWLYRVGH FLäQGHFDORUDOXVDUHOWHUPLQDO
JDUDQWL]DVXIXQFLRQDPLHQWR DOPDFHQDPLHQWR86%GHELGRD 86%SXHGHRFDVLRQDUSUREOHPDV
࿢ /DFRQH[LäQFRQGLVSRVLWLYRVGHDOಢ SUREOHPDVGHFRPSDWLELOLGDG GHIXQFLRQDPLHQWRRGDâRVHQHO
PDFHQDPLHQWR86%GHOWLSRL6WLFN ࿢ 1RGHVFRQHFWHHOGLVSRVLWLYRGHDOಢ SURGXFWR
SXHGHSUHVHQWDUHUURUHVGHELGRD PDFHQDPLHQWR86%PLHQWUDVVH ࿢ &XDQGRODXQLGDGOäJLFDVHVHSDUD
ODYLEUDFLäQGHOYHKÞFXORSRUORTXH UHSURGXFH'HKDFHUORSRGUÞDFDXಢ GHXQGLVSRVLWLYRGHDOPDFHQDಢ
QRVHSXHGHJDUDQWL]DUVXIXQFLRಢ VDUGDâRVDODSDUDWRRDOIXQFLRQDಢ PLHQWRPDVLYR86%VäORVHSXHಢ
QDPLHQWR PLHQWRGHOGLVSRVLWLYR86% GHQUHSURGXFLUORVDUFKLYRVGHOQLಢ
࿢ 7HQJDFXLGDGRGHQRWRFDUHOWHUಢ ࿢ 'HVFRQHFWHHOGLVSRVLWLYRGHDOPDಢ YHOVXSHULRUGHODXQLGDGOäJLFDHQ
PLQDOGHFRQH[LäQ86%FRQXQREಢ FHQDPLHQWR86%FRQHFWDGR HOFDVRGHORVDUFKLYRVGHPëVLFD
MHWRRFXDOTXLHUSDUWHGHVXFXHUSR FXDQGRHOHQFHQGLGRGHOYHKÞFXOR GHO86%3RUHVWHPRWLYRORVDUಢ
HVWÚGHVFRQHFWDGR6LHOHQFHQGLGR FKLYRVGHPëVLFDGHEHQJXDUGDUVH
࿢ (OGLVSRVLWLYRGHDOPDFHQDPLHQWR HQODXQLGDGGHQLYHOVXSHULRUGHO
86%VäORSXHGHUHFRQRFHUVHVL HVWÒFRQHFWDGRPLHQWUDVHOGLVSRಢ
VLWLYRGHDOPDFHQDPLHQWR86% GLVSRVLWLYR3XHGHTXHORVDUFKLYRV
HVWÒIRUPDWHDGRHQHOIRUPDWRGH GHPëVLFDHVSHFLDOPHQWHORVGH
DUFKLYR)$7H[)$7(OVLVಢ WDPELÚQORHVWÒSXHGHTXHHQDOಢ
JXQRVFDVRVHOGLVSRVLWLYRVXIUDGDಢ GLVSRVLWLYRVGHDOPDFHQDPLHQWR
WHPDGHDUFKLYRV17)6\RWURVVLVಢ 86%QRVHUHSURGX]FDQFRQQRUಢ
WHPDVQRSXHGHQUHFRQRFHUVH âRV\QRIXQFLRQHFRQQRUPDOLGDG
PDOLGDGVLVHFDUJDXQDDSOLFDFLäQ
 'LVSRVLWLYRVH[WHUQRV

UHDOL]DQGRXQDSDUWLFLäQHQXQD L3RG*1DQRL3RG*1DQR L3RGL3KRQHVHFRQHFWDDOWHUPLQDO


XQLGDGVHSDUDGDGHOGLVSRVLWLYR L3RG*\*1DQR GHHQWUDGD$8;QRVHUHSURGXFLಢ
86% L3RG*%\*%&ODVVLF UÒQORVDUFKLYRVGHPëVLFD
࿢ /RVDUFKLYRVGHPëVLFDFRQ'50 L3RG**\*7RXFK ࿢ &RQHFWHHOL3RGL3KRQHDOWHUPLQDO
SURWHJLGRVQRSXHGHQUHSURGXಢ GHHQWUDGD$8;XVDQGRHOFDEOH
FLUVH L3KRQH*\*6 $8;GHOL3RGL3KRQHSDUDUHSURಢ
࿢ (VWHSURGXFWRHVFRPSDWLEOHFRQ L3KRQH6 GXFLUORVDUFKLYRVGHYÞGHRGHO
GLVSRVLWLYRVGHDOPDFHQDPLHQWR ࿢ &RQHFWHVäORHOL3RGL3KRQHFRQ L3RGL3KRQH6LHOL3RGL3KRQHVH
86%FRQXQDFDSDFLGDGOLPLWDGDD ORVFDEOHVGHFRQH[LäQFRPSDWLEOHV FRQHFWDDOSXHUWR86%QRVHUHಢ
DUFKLYRVGHPëVLFD FRQORVSURGXFWRVL3RGL3KRQH1R SURGXFLUÒQORVDUFKLYRVGHYÞGHR
DUFKLYRVIRWRJUÒILFRVDUFKLYRV SXHGHQXVDUVHRWURVFDEOHVGHFRಢ ࿢ /DVIXQFLRQHVGHUHSURGXFFLäQ\
GHYÞGHRFDUSHWDV\XQDHVಢ QH[LäQ ODVRSFLRQHVGHODSDQWDOODGHLQಢ
WUXFWXUDGHFDUSHWDVGHQLYHOHV ࿢ (QDOJXQRVFDVRVUDURVHOL3RG IRUPDFLäQGHOL3RGL3KRQHXVDGDV
FRPRPÒ[LPR1RVHSXHGHJDUDQಢ L3KRQHSXHGHUHVXOWDUGDâDGRVLVH FRQHVWHVLVWHPDGHLQIRHQWUHWHQLಢ
WL]DUXQXVRQRUPDOSDUDGLVSRVLWLಢ DSDJDHOHQFHQGLGR\HOL3RGHVWÒ PLHQWRSXHGHQVHUGLVWLQWDVGHODV
YRVGHDOPDFHQDPLHQWRTXHH[FHಢ FRQHFWDGRDOVLVWHPD&XDQGRHO GHOL3RGL3KRQHHQFXDQWRDORUಢ
GHQHVWHOÞPLWH L3RGL3KRQHQRVHXVHPDQWÚQಢ GHQGHUHSURGXFFLäQPÚWRGRHLQಢ
(OL3RGL3KRQHSXHGHUHSURGXFLU JDORGHVFRQHFWDGRGHOVLVWHPDFRQ IRUPDFLäQPRVWUDGD
WRGRVORVDUFKLYRVGHPëVLFDFRPಢ HOHQFHQGLGRDSDJDGR ࿢ &RQVXOWHODWDEODVLJXLHQWHSDUDREಢ
SDWLEOHV3HURHQODVOLVWDVGHDUಢ ࿢ &XDQGRHOL3RGL3KRQHHVWÒFRಢ WHQHUODVRSFLRQHVGHFODVLILFDFLäQ
FKLYRVGHPëVLFDODSDQWDOODPXHVಢ QHFWDGRDOSXHUWR86%XVDQGRHO UHODFLRQDGDVFRQODIXQFLäQGHEëVಢ
WUDXQPÒ[LPRGHDUFKLYRVHQ FDEOHGHOL3RGL3KRQHHOVLVWHPD TXHGDSURSRUFLRQDGDSRUHOL3RG
RUGHQDOIDEÚWLFR QRDGPLWHODIXQFLäQGHPëVLFD L3KRQH
࿢ /RVPRGHORVGHL3RGL3KRQHTXH %OXHWRRWK
VHSXHGHQFRQHFWDURVRQFRPSDಢ ࿢ &RQHFWHHOL3RGL3KRQHDOSXHUWR
WLEOHVFRQHVWHVLVWHPDGHLQIRHQಢ 86%XVDQGRHOFDEOHGHOL3RGL3ಢ
WUHWHQLPLHQWRVRQORVVLJXLHQWHV KRQHSDUDUHSURGXFLUORVDUFKLYRV
GHPëVLFDGHOL3RGL3KRQH6LHO
'LVSRVLWLYRVH[WHUQRV 

Extensiones de archivo: ࿢ )RUPDWRVGHFäGHFUHSURGXFLEOHV


.jpg, .bmp, .png, .gif (no se GLY[[YLGPSHJPSHJ PSJ
admiten GIF animados) PSPS ZPY ZPY
࿢ 3XHGHTXHDOJXQRVDUFKLYRVQR ࿢ )RUPDWRVGHDXGLRUHSURGXFLEOHV
IXQFLRQHQGHELGRDXQIRUPDWRGH 03$&$$&:0$
JUDEDFLäQGLIHUHQWHRDOHVWDGRGHO ࿢ 7DVDGHELWVPÒ[GHYÞGHR
DUFKLYR
PSHJ0ESV
6LVWHPDGHYÞGHR PSHJ PSJPSPS 
&RQHOVLVWHPDGHLQIRHQWUHWHQLಢ 0ESV
PLHQWRSXHGHUHSURGXFLUDUFKLYRVGH ZPY0ESV
YÞGHRJXDUGDGRVHQHOGLVSRVLWLYRGH GLY[0ESV
DOPDFHQDPLHQWR86%
6LVWHPDGHLPDJHQ GLY[0ESV
&RQHOVLVWHPDGHLQIRHQWUHWHQLಢ $GYHUWHQFLDVVREUHHOXVRGH [YLG0ESV
PLHQWRSXHGHYHUDUFKLYRVGHLPDJHQ DUFKLYRVGHYÞGHR
JXDUGDGRVHQHOGLVSRVLWLYRGHDOPDಢ ࿢ 7DVDGHELWVPÒ[GHDXGLR
࿢ 5HVROXFLäQGLVSRQLEOHKDVWD[
FHQDPLHQWR86% SÞ[HOHV DQFKXUD[DOWXUD  PS.ESV
࿢ )UHFXHQFLDGHLPDJHQPHQRVGH ZPD.ESV
$GYHUWHQFLDVVREUHHOXVRGH
DUFKLYRVGHLPDJHQ ISV DF.ESV
࿢ 7DPDâRGHDUFKLYR ࿢ $UFKLYRVGHYÞGHRUHSURGXFLಢ DDF.ESV
EOHVDYLPSJPSGLY[[YLG ࿢ (VSRVLEOHTXHQRVHUHSURGX]FDQ
-3*HQWUH\SÞ[HOHV DQಢ
ZPY ORVDUFKLYRVGHYÞGHRFRQSURWHFಢ
FKXUD HQWUH\SÞ[HOHV DOಢ
WXUD 3XHGHTXHDOJXQRVDUFKLYRVGHYÞಢ FLäQ'50 JHVWLäQGHGHUHFKRVGLಢ
GHRQRVHUHSURGX]FDQVHJëQHO JLWDOHV 
%0331**,)HQWUH\
IRUPDWRGHOFäGHF
SÞ[HOHV DQFKXUD HQWUH\
SÞ[HOHV DOWXUD ࿢ )RUPDWRGHVXEWÞWXORVUHSURGXFLಢ
EOHVVPL
 'LVSRVLWLYRVH[WHUQRV

6LVWHPDGHGLVSRVLWLYRDX[LOLDU (OFDEOHGHSRORVHVFRPSDWLEOH ࿢ $SDUHFHUÒXQLFRQRGHQRWDPXVLಢ


(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR FXDQGRVHUHSURGXFHXQDUFKLYRGH FDOQHQODSDQWDOODVLODFRQH[LäQ
SXHGHUHSURGXFLUPëVLFDRYÞGHRV YÞGHR FRPRDXULFXODUHVHVWÚUHRHVFRಢ
PHGLDQWHODFRQH[LäQGHXQGLVSRVLಢ UUHFWD
WLYRDX[LOLDU ࿢ (OVRQLGRGHOGLVSRVLWLYR%OXHWRRWK
࿢ 6LHOGLVSRVLWLYRDX[LOLDU\DHVWÒFRಢ VHUHSURGXFHDWUDYÚVGHOVLVWHPD
QHFWDGRSXOVH!DXGLR!)XHQWH GHLQIRHQWUHWHQLPLHQWR
6!$8;SDUDUHSURGXFLUODIXHQWH ࿢ 6äORVHSXHGHXWLOL]DUODIXQFLäQGH
PXVLFDOGHOGLVSRVLWLYRDX[LOLDU PëVLFD%OXHWRRWKFXDQGRVHKDFRಢ
࿢ 7LSRGHFDEOH$8; QHFWDGRXQGLVSRVLWLYR%OXHWRRWK
3DUDUHSURGXFLUPëVLFD%OXHWRRWK
&DEOHGHSRORVFDEOH$8;SDUD FRQHFWHHOWHOÚIRQR%OXHWRRWKDOVLVಢ
DXGLR WHPDGHLQIRHQWUHWHQLPLHQWR
1RWD
3DUDPÒVLQIRUPDFLäQFRQVXOWHOD
VHFFLäQ(PSDUHMDU\FRQHFWDUGLVಢ
6LVWHPD%OXHWRRWK SRVLWLYRV%OXHWRRWK 
࿢ 3HUILOHVFRPSDWLEOHV+)3$'3
$95&33%$3 ࿢ 6LVHGHVFRQHFWDHOVLVWHPD%OXHಢ
WRRWKPLHQWUDVUHSURGXFHODPëVLFD
࿢ /DIXQFLäQGHPëVLFD%OXHWRRWK GHOWHOÚIRQRVHLQWHUUXPSLUÒODPëಢ
SXHGHQRVHUFRPSDWLEOHGHSHQಢ VLFD/DIXQFLäQGHVWUHDPLQJGH
GLHQGRGHOWHOÚIRQRPäYLORGLVSRಢ DXGLRSXHGHQRVHUFRPSDWLEOHFRQ
VLWLYR%OXHWRRWK DOJXQRVWHOÚIRQRV%OXHWRRWK6äOR
࿢ 'HVGHHOWHOÚIRQRPäYLORGLVSRVLಢ VHSXHGHXVDUXQDIXQFLäQDODYH]
&DEOHGHSRORVFDEOH$8;SDUD WLYR%OXHWRRWKORFDOLFHHOWLSRGH RODIXQFLäQGHPDQRVOLEUHV%OXHಢ
YÞGHR FDEOH$8;SDUDL3RGL3ಢ GLVSRVLWLYR%OXHWRRWKSDUDFRQILJXಢ WRRWKRODIXQFLäQGHPëVLFDGHOWHಢ
KRQH UDUORFRQHFWDUORFRPRXQRVDXULಢ OÚIRQR3RUHMHPSORVLFDPELDDOD
FXODUHVHVWÚUHR IXQFLäQGHPDQRVOLEUHV%OXHWRRWK
'LVSRVLWLYRVH[WHUQRV 

PLHQWUDVUHSURGXFHPëVLFDGHOWHಢ ࿢ 6HWDUGDXQWLHPSRHQWUDQVPLWLUORV ࿢ 6LODUHSURGXFFLäQGHPëVLFD%OXHಢ


OÚIRQRVHLQWHUUXPSLUÒODPëVLFD GDWRVGHVGHHOWHOÚIRQRPäYLODOVLVಢ WRRWKQRIXQFLRQDFRPSUXHEHVLHO
1RHVSRVLEOHUHSURGXFLUPëVLFD WHPDGHLQIRHQWUHWHQLPLHQWR(OVLVಢ WHOÚIRQRPäYLOHVWÒHQHOPRGRGH
GHVGHHOYHKÞFXORVLQRKD\DUFKLಢ WHPDGHLQIRHQWUHWHQLPLHQWRUHSURಢ SDQWDOODGHHVSHUD
YRVGHPëVLFDJXDUGDGRVHQHOWHಢ GXFHHODXGLRGHVGHHOWHOÚIRQRPäಢ ࿢ $YHFHVHOVRQLGRSXHGHVXIULUFRUಢ
OÚIRQRPäYLO YLORGLVSRVLWLYR%OXHWRRWKWDOFRPR WHVGXUDQWHODUHSURGXFFLäQGHPëಢ
࿢ 3DUDUHSURGXFLUODPëVLFD%OXHಢ VHWUDQVPLWH VLFD%OXHWRRWK
WRRWKGLFKDPëVLFDGHEHUHSURGXಢ ࿢ 6LHOWHOÚIRQRPäYLORHOGLVSRVLWLYR
FLUVHDOPHQRVXQDYH]GHVGHHO %OXHWRRWKQRHVWÒQHQHOPRGRGH (QODFHFRQVPDUWSKRQH
PRGRGHOUHSURGXFWRUGHPëVLFD SDQWDOODGHHVSHUDSXHGHTXHQR
GHOWHOÚIRQRPäYLORGHOGLVSRVLWLYR UHSURGX]FDDXWRPÒWLFDPHQWHD &RPSDWLELOLGDGGHVPDUWSKRQHSRU
%OXHWRRWKWUDVFRQHFWDUORFRPR SHVDUGHOOHYDUVHDFDERHQHO DSOLFDFLäQ
XQRVDXULFXODUHVHVWÚUHR'HVSXÚV PRGRGHUHSURGXFFLäQGHPëVLFD 6WLWFKHU
GHUHSURGXFLUVHDOPHQRVXQDYH] %OXHWRRWK
HOUHSURGXFWRUPXVLFDOODUHSURGXಢ L3RGL3KRQH &RQH[LäQ86%
࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
FLUÒDXWRPÒWLFDPHQWHDODFFHGHUDO WUDQVPLWHODRUGHQGHUHSURGXFLU 7HOÚIRQR WHFQRORJÞD
PRGRGHUHSURGXFFLäQ\ODUHSURಢ GHVGHHOWHOÚIRQRPäYLOHQHOPRGR $QGURLG LQDOÒPEULFD
GXFFLäQVHGHWHQGUÒDXWRPÒWLFDಢ GHUHSURGXFFLäQGHPëVLFD%OXHಢ %OXHWRRWK
PHQWHFXDQGRILQDOLFHHOPRGRGHO WRRWK6LVHKDFHHQXQPRGRGLVಢ
UHSURGXFWRUGHPëVLFD6LHOWHOÚಢ WLQWRHQWRQFHVHOGLVSRVLWLYRWUDQVಢ ࿢ (QHOFDVRGHOL3KRQHFRQHFWHHO
IRQRPäYLORHOGLVSRVLWLYR%OXHಢ PLWHODRUGHQGHGHWHQHUODUHSURಢ WHOÚIRQRDWUDYÚVGHOSXHUWR86%
WRRWKQRHVWÒQHQHOPRGRGHSDQಢ GXFFLäQ'HSHQGLHQGRGHODVRSಢ SDUDXWLOL]DU6WLWFKHU
WDOODGHHVSHUDSXHGHTXHDOJXQRV FLRQHVGHOWHOÚIRQRPäYLOHVWDRUಢ
GLVSRVLWLYRVQRUHSURGX]FDQDXWRಢ ࿢ (QFDVRGHXQWHOÚIRQR$QGURLGFRಢ
GHQSDUDLQLFLDUGHWHQHUODUHSURಢ
PÒWLFDPHQWHHQPRGRGHUHSURಢ QHFWHHOWHOÚIRQR\HOVLVWHPDGHLQಢ
GXFFLäQSXHGHWDUGDUXQWLHPSRHQ
GXFFLäQGHPëVLFD%OXHWRRWK IRHQWUHWHQLPLHQWRDWUDYÚVGHOD
DFWLYDUVH
WHFQRORJÞDLQDOÒPEULFD%OXHWRRWK
࿢ 1RFDPELHGHSLVWDGHPDVLDGRUÒಢ
SDUDXWLOL]DU6WLWFKHU
SLGRPLHQWUDVVHUHSURGXFHODPëಢ
VLFD%OXHWRRWK
 'LVSRVLWLYRVH[WHUQRV

0HQVDMHVGHHUURUGHOL3RGL3KRQH\ 6LODYHUVLäQGHOVLVWHPDRSHUDWLYR
SRVLEOHVVROXFLRQHV L26GHVXL3KRQHHVDQWHULRUDOD
6LHOVLVWHPDGHLQIRHQWUHWHQLPLHQWR DSDUHFHHOPHQVDMHGHHUURUGHOVLಢ
QRSXHGHDFWLYDUODDSOLFDFLäQHQVX JXLHQWHPRGR
L3RGL3KRQHFRQHFWDGRDWUDYÚVGHO
SXHUWR86%DSDUHFHHOPHQVDMHGH
HUURUGHOVLJXLHQWHPRGR

࿢ 5HLQLFLHWRGRVORVDMXVWHVUHODFLRಢ
QDGRVFRQHOWHOÚIRQR\OXHJRSXOVH
HOPHQëGHODDSOLFDFLäQGHVHDGD
HQHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR
$FWLYHODDSOLFDFLäQHQVXL3KRQH\
OXHJRSXOVHHOPHQëGHODDSOLFDFLäQ ࿢ 9XHOYDDFRQHFWDUVXVPDUWSKRQH\
GHVHDGDHQHOVLVWHPDGHLQIRHQWUHಢ HOVLVWHPDGHLQIRHQWUHWHQLPLHQWRD
࿢ 6XL3KRQHHVWÒEORTXHDGR !'HVಢ WHQLPLHQWR WUDYÚVGHODWHFQRORJÞDLQDOÒPEULFD
EORTXHHVXL3KRQH %OXHWRRWK\OXHJRSXOVHHOPHQëGH
6LHOVLVWHPDGHLQIRHQWUHWHQLPLHQWR ODDSOLFDFLäQGHVHDGDHQHOVLVWHPD
࿢ 7LHQHDELHUWDRWUDDSOLFDFLäQDFWLYD QRSXHGHDFWLYDUODDSOLFDFLäQHQVX GHLQIRHQWUHWHQLPLHQWR
!&LHUUHODRWUDDSOLFDFLäQDFWLYD VPDUWSKRQHFRQHFWDGRDWUDYÚVGHOD
WHFQRORJÞDLQDOÒPEULFD%OXHWRRWKHO ࿢ &XDQGRGHWLHQHODDSOLFDFLäQHQVX
࿢ 1RKDLQVWDODGRODDSOLFDFLäQHQVX VPDUWSKRQHVXHOHWDUGDUXQSRFR
L3KRQH !,QVWDOHODDSOLFDFLäQHQ PHQVDMHGHHUURUDSDUHFHGHOVLಢ
JXLHQWHPRGR HQYROYHUDOIXQFLRQDPLHQWRQRUPDO
VXL3KRQH ,QWHQWHDFWLYDUODDSOLFDFLäQGHVಢ
SXÚVGHXQRVaVHJXQGRV
'LVSRVLWLYRVH[WHUQRV 

6LHOL3KRQHHVWÒFRQHFWDGRDOVLVಢ 0RVWUDURFXOWDUORVLFRQRVGH
WHPDGHLQIRHQWUHWHQLPLHQWRDWUDYÚV DSOLFDFLRQHVHQHOPHQëHQODFHFRQ
GHOSXHUWR86%\HOVLVWHPDGHLQಢ VPDUWSKRQH
IRHQWUHWHQLPLHQWRHVWÒFRQHFWDGRD  3XOVH!HQODFHFRQ
RWURWHOÚIRQRDWUDYÚVGHODWHFQRORJÞD VPDUWSKRQH$SDUHFHHOPHQëHQಢ
LQDOÒPEULFD%OXHWRRWKVHSXHGH ODFHFRQVPDUWSKRQH
FDPELDUHQWUHODVGRVDSOLFDFLRQHV
L3KRQH\WHOÚIRQR%OXHWRRWK XVDQGR
ODOLVWDGHVPDUWSKRQHPRVWUDGDHQOD
SDQWDOOD

 3XOVHHOLFRQRGHODDSOLFDFLäQGHಢ
VHDGDSDUDTXHVHRFXOWHHOLFRQR
FRUUHVSRQGLHQWHPRVWUDGRHQHO
PHQëHQODFHFRQVPDUWSKRQH
3XOVHHOLFRQRGHODDSOLFDFLäQGHಢ
VHDGDSDUDPRVWUDUHOLFRQRFRಢ
 3XOVHDMXVWHV$SDUHFHHOPHQë UUHVSRQGLHQWHRFXOWRHQHOPHQë
GHDMXVWHVGHDSOLFDFLRQHV HQODFHFRQVPDUWSKRQH
 3XOVH2.
6LKD\DFWLYDGDXQDDSOLFDFLäQHQHO
3XOVHL3KRQHRWHOÚIRQR%OXHWRRWK PHQëHQODFHFRQVPDUWSKRQHHVWDUÒ
SDUDDFWLYDUODDSOLFDFLäQDWUDYÚVGHO DFWLYDGDODPDUFDJHQODSDUWHVXSHಢ
GLVSRVLWLYRGHVHDGR ULRUGHOPHQëGHLQLFLRRHQODSDQWDOOD
GHUHSURGXFFLäQ
 'LVSRVLWLYRVH[WHUQRV

5HSURGXFFLäQGHDXGLR 1RWD
6LHOXVXDULRGHVHDGHVFRQHFWDUHO
5HSURGXFWRU86% GLVSRVLWLYRGHDOPDFHQDPLHQWR
86%VHOHFFLRQHRWUDIXQFLäQ\
5HSURGXFLUDUFKLYRVGHPëVLFDGHO OXHJRGHVFRQHFWHHOGLVSRVLWLYRGH
GLVSRVLWLYRGHDOPDFHQDPLHQWR86% DOPDFHQDPLHQWR86%
&RQHFWHHOGLVSRVLWLYRGHDOPDFHQDಢ 3DXVD
PLHQWR86%TXHFRQWLHQHORVDUFKLಢ 3XOVH GXUDQWHODUHSURGXFFLäQ
YRVGHPëVLFDDOSXHUWR86%
3XOVHOSDUDUHDQXGDUODUHSURGXFಢ
࿢ 8QDYH]TXHHOVLVWHPDGHLQIRHQಢ FLäQ
WUHWHQLPLHQWRWHUPLQHGHOHHUODLQಢ
IRUPDFLäQGHOGLVSRVLWLYRGHDOPDಢ 5HSURGXFLUHODUFKLYRVLJXLHQWH
FHQDPLHQWR86%VHUHSURGXFLUÒQ 1RWD 3XOVHYSDUDUHSURGXFLUHODUFKLYR
DXWRPÒWLFDPHQWH 6LHOGLVSRVLWLYRGHDOPDFHQDPLHQWR VLJXLHQWH
࿢ 6LVHFRQHFWDXQGLVSRVLWLYRGHDOಢ 86%\DHVWÒFRQHFWDGRSXOVH
PDFHQDPLHQWR86%LOHJLEOHDSDಢ !DXGLR!)XHQWH6!86% YÞGHRV 5HSURGXFLUHODUFKLYRDQWHULRU
UHFHUÒXQPHQVDMHGHHUURU\HOVLVಢ SDUDUHSURGXFLUORVDUFKLYRVGHPëಢ 3XOVHWDQWHVGHVHJXQGRVGHO
WHPDGHLQIRHQWUHWHQLPLHQWRFDPಢ VLFD86% WLHPSRGHUHSURGXFFLäQSDUDUHSURಢ
ELDUÒDXWRPÒWLFDPHQWHDODIXQFLäQ )LQDOL]DUODUHSURGXFFLäQGHDUFKLYRV GXFLUHODUFKLYRDQWHULRU
GHDXGLRDQWHULRU GHPëVLFD86%
9ROYHUDOSULQFLSLRGHODUFKLYRDFWXDO
 3XOVH)XHQWH6
3XOVHWGHVSXÚVGHVHJXQGRVGHO
 6HOHFFLRQHRWUDIXQFLäQSXOVDQGR WLHPSRGHUHSURGXFFLäQ
$0)0$8;R%OXHWRRWK
'LVSRVLWLYRVH[WHUQRV 

([SORUDFLäQKDFLDGHODQWHRKDFLD 9HULQIRUPDFLäQVREUHHODUFKLYR ࿢ /DLQIRUPDFLäQLQFRUUHFWDQRVH


DWUÒV UHSURGXFLGR SXHGHPRGLILFDUQLFRUUHJLUHQHO
0DQWHQJDSXOVDGRWRYGXUDQWH 3XOVHVREUHHOWÞWXORGXUDQWHODUHSURಢ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
ODUHSURGXFFLäQSDUDUHWURFHGHUR GXFFLäQSDUDPRVWUDULQIRUPDFLäQVRಢ ࿢ /DLQIRUPDFLäQH[SUHVDGDFRQVÞPಢ
DYDQ]DUUÒSLGDPHQWH6XHOWHHOERWäQ EUHHODUFKLYRTXHVHHVWÒUHSURGXಢ ERORVHVSHFLDOHVRHQLGLRPDVQR
SDUDUHDQXGDUODUHSURGXFFLäQDYHಢ FLHQGR GLVSRQLEOHVSXHGHDSDUHFHUFRPR
ORFLGDGQRUPDO <
5HSURGXFLUXQDUFKLYRUHSHWLGDPHQWH 8VRGHOPHQëGHPëVLFD86%
3XOVHUGXUDQWHODUHSURGXFFLäQ  3XOVH0(18GXUDQWHODUHSURGXFಢ
࿢ 5HSURGXFHUHSHWLGDPHQWHHODUಢ FLäQ(OQëPHURGHFDQFLRQHVSHUಢ
FKLYRDFWXDO WLQHQWHVDSDUHFHHQODVFDWHJRಢ
࿢ $//5HSURGXFHUHSHWLGDPHQWHWRಢ UÞDVGHWRGDVODVFDQFLRQHVFDUಢ
GRVORVDUFKLYRV SHWDVDUWLVWDVÒOEXPHVJÚQHಢ
URV
࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ
PDO
5HSURGXFLUXQDUFKLYR
DOHDWRULDPHQWH
࿢ /DLQIRUPDFLäQPRVWUDGDLQFOX\HHO
3XOVHVGXUDQWHODUHSURGXFFLäQ
WÞWXORHOQRPEUHGHODUFKLYRHO
࿢ 215HSURGXFHDOHDWRULDPHQWHWRಢ QRPEUHGHODFDUSHWD\HOQRPEUH
GRVORVDUFKLYRV GHODUWLVWDÒOEXPJXDUGDGRFRQOD
࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ FDQFLäQ
PDO
 'LVSRVLWLYRVH[WHUQRV

SURGXFLUÒQDXWRPÒWLFDPHQWH
GHVGHHOOXJDUUHSURGXFLGRSUHYLDಢ
PHQWH
࿢ 6LVHFRQHFWDXQL3RGL3KRQHLOHಢ
JLEOHDSDUHFHUÒXQPHQVDMHGH
HUURU\HOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWRFDPELDUÒDXWRPÒWLFDPHQWH
DODIXQFLäQGHDXGLRDQWHULRU

 3XOVHHOPRGRGHUHSURGXFFLäQ  3DUDPÒVGHWDOOHVFRQVXOWH
GHVHDGR $MXVWHVGHOWRQR PHQëGH)0
$0  
$MXVWHVGHWRQRV
 3XOVH0(18GXUDQWHODUHSURGXFಢ 5HSURGXFWRUL3RGL3KRQH
FLäQ /LPLWDGRDPRGHORVFRPSDWLEOHVFRQ
 8WLOLFH5\6SDUDGHVSOD]DUVH ODFRQH[LäQGHXQL3RGL3KRQH
SRUODOLVWD
5HSURGXFLUDUFKLYRVGHPëVLFDGHXQ
3XOVHDMXVWHVGHOWRQR L3RGL3KRQH 1RWD
&RQHFWHHOL3RGL3KRQHTXHFRQಢ 6LHOL3RGL3KRQH\DHVWÒFRQHFಢ
WLHQHORVDUFKLYRVGHPëVLFDDOSXHUWR WDGRSXOVH!DXGLR!)XHQWH6!
86% L3RGSDUDUHSURGXFLUHOL3RGL3ಢ
KRQH
࿢ 8QDYH]TXHHOVLVWHPDGHLQIRHQಢ
WUHWHQLPLHQWRWHUPLQHGHOHHUODLQಢ
IRUPDFLäQGHOL3RGL3KRQHVHUHಢ
'LVSRVLWLYRVH[WHUQRV 

)LQDOL]DUODUHSURGXFFLäQGHOL3RG ([SORUDFLäQKDFLDGHODQWHRKDFLD 9HULQIRUPDFLäQVREUHODFDQFLäQ


L3KRQH DWUÒV UHSURGXFLGD
 3XOVH)XHQWH6 0DQWHQJDSXOVDGRWRYGXUDQWH 3XOVHVREUHHOWÞWXORGXUDQWHODUHSURಢ
 6HOHFFLRQHRWUDIXQFLäQSXOVDQGR ODUHSURGXFFLäQSDUDUHWURFHGHUR GXFFLäQSDUDPRVWUDULQIRUPDFLäQVRಢ
$0)0$8;R%OXHWRRWK DYDQ]DUUÒSLGDPHQWH6XHOWHHOERWäQ EUHODFDQFLäQTXHVHHVWÒUHSURGXಢ
SDUDUHDQXGDUODUHSURGXFFLäQDYHಢ FLHQGR
1RWD ORFLGDGQRUPDO
6LHOXVXDULRGHVHDGHVFRQHFWDUHO
L3RGL3KRQHVHOHFFLRQHRWUDIXQಢ 5HSURGXFLUXQDUFKLYRUHSHWLGDPHQWH
FLäQ\OXHJRGHVFRQHFWHHOL3RGL3ಢ 3XOVHUGXUDQWHODUHSURGXFFLäQ
KRQH
࿢ 5HSURGXFHUHSHWLGDPHQWHHODUಢ
3DXVD FKLYRDFWXDO
3XOVH GXUDQWHODUHSURGXFFLäQ ࿢ $//5HSURGXFHUHSHWLGDPHQWHWRಢ
3XOVHOSDUDUHDQXGDUODUHSURGXFಢ GRVORVDUFKLYRV
FLäQ ࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ
PDO
5HSURGXFLUODFDQFLäQVLJXLHQWH
3XOVHYSDUDUHSURGXFLUODFDQFLäQ 5HSURGXFLUXQDUFKLYR
VLJXLHQWH DOHDWRULDPHQWH
3XOVHVGXUDQWHODUHSURGXFFLäQ
5HSURGXFLUODFDQFLäQDQWHULRU
3XOVHWDQWHVGHVHJXQGRVGHO ࿢ 215HSURGXFHDOHDWRULDPHQWHWRಢ
GRVORVDUFKLYRV
WLHPSRGHUHSURGXFFLäQSDUDUHSURಢ
GXFLUODFDQFLäQDQWHULRU ࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ
PDO
9ROYHUDOSULQFLSLRGHODFDQFLäQ
DFWXDO
3XOVHWGHVSXÚVGHVHJXQGRVGHO
WLHPSRGHUHSURGXFFLäQ
 'LVSRVLWLYRVH[WHUQRV

UÞDVGHOLVWDVGHUHSURGXFFLäQDUಢ
WLVWDVÒOEXPHVFDQFLRQHVJÚಢ
QHURVFRPSRVLWRUDXGLROLEURV

࿢ /DLQIRUPDFLäQPRVWUDGDLQFOX\HHO  3DUDPÒVGHWDOOHVFRQVXOWH
WÞWXOR\HOQRPEUHGHODUWLVWDÒOEXP $MXVWHVGHOWRQR PHQëGH)0
JXDUGDGRFRQODFDQFLäQ $0  
࿢ /DLQIRUPDFLäQLQFRUUHFWDQRVH  3XOVHHOPRGRGHUHSURGXFFLäQ
GHVHDGR 'LVSRVLWLYRDX[LOLDU
SXHGHPRGLILFDUQLFRUUHJLUHQHO
VLVWHPDGHLQIRHQWUHWHQLPLHQWR 5HSURGXFLUODIXHQWHPXVLFDOGHO
$MXVWHVGHWRQRV
࿢ /DLQIRUPDFLäQH[SUHVDGDFRQVÞPಢ  3XOVH0(18GXUDQWHODUHSURGXFಢ GLVSRVLWLYRDX[LOLDU
ERORVHVSHFLDOHVRHQLGLRPDVQR FLäQ &RQHFWHHOGLVSRVLWLYRDX[LOLDUTXH
GLVSRQLEOHVSXHGHDSDUHFHUFRPR FRQWLHQHODIXHQWHPXVLFDODOWHUPLQDO
<  8WLOLFH5\6SDUDGHVSOD]DUVH GHHQWUDGD$8;8QDYH]TXHHOVLVಢ
SRUODOLVWD WHPDGHLQIRHQWUHWHQLPLHQWRWHUPLQH
8VRGHOPHQëGHOL3RG 3XOVHDMXVWHVGHOWRQR GHOHHUODLQIRUPDFLäQGHOGLVSRVLWLYR
 3XOVH0(18GXUDQWHODUHSURGXFಢ DX[LOLDUVHUHSURGXFLUÒDXWRPÒWLFDಢ
FLäQ(OQëPHURGHFDQFLRQHVSHUಢ PHQWH
WLQHQWHVDSDUHFHHQODVFDWHJRಢ
'LVSRVLWLYRVH[WHUQRV 

 3DUDPÒVGHWDOOHVFRQVXOWH 1RWD
$MXVWHVGHWRQRV
$MXVWHVGHOWRQR PHQëGH)0 6LHOGLVSRVLWLYR%OXHWRRWKQRHVWÒ
 3XOVHDMXVWHVGHOWRQRGXUDQWHOD $0  
UHSURGXFFLäQGHPëVLFDGHOGLVಢ FRQHFWDGRHVWDIXQFLäQQRSXHGH
SRVLWLYRDX[LOLDU VHOHFFLRQDUVH
%OXHWRRWK
3DXVD
5HSURGXFLUPëVLFD%OXHWRRWK 3XOVH GXUDQWHODUHSURGXFFLäQ
 3XOVHHQHOSDQHOGHPDQGRV 3XOVHGHQXHYR SDUDUHDQXGDUOD
 3XOVHDXGLRHQHOPHQëGHLQLFLR UHSURGXFFLäQ
 3XOVH)XHQWH6HQODSDQWDOOD 5HSURGXFLUODFDQFLäQVLJXLHQWH
 3XOVH%OXHWRRWKSDUDVHOHFFLRQDU 3XOVHYSDUDUHSURGXFLUODPëVLFD
HOPRGRGHUHSURGXFFLäQGHOD VLJXLHQWH
PëVLFD%OXHWRRWKFRQHFWDGD
 'LVSRVLWLYRVH[WHUQRV

5HSURGXFLUODFDQFLäQDQWHULRU 5HSURGXFLUODPëVLFDDOHDWRULDPHQWH 6WLWFKHU


3XOVHWDQWHVGHVHJXQGRVGHO 3XOVHVGXUDQWHODUHSURGXFFLäQ $OJXQDVLPÒJHQHV\H[SOLFDFLRQHV
WLHPSRGHUHSURGXFFLäQSDUDUHSURಢ ࿢ 215HSURGXFHDOHDWRULDPHQWH SXHGHQYDULDUGHSHQGLHQGRGHORV
GXFLUODPëVLFDDQWHULRU WRGDODPëVLFD VLVWHPDVRSHUDWLYRVGHOWHOÚIRQRVX
YHUVLäQRODYHUVLäQGHODDSOLFDFLäQ
9ROYHUDOSULQFLSLRGHODFDQFLäQ ࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ
$SS (VWDVHFFLäQGHVFULEHHOIXQಢ
DFWXDO PDO
FLRQDPLHQWRHQJHQHUDO
3XOVHWGHVSXÚVGHVHJXQGRVGHO 1RWD
WLHPSRGHUHSURGXFFLäQ 'HSHQGLHQGRGHOWHOÚIRQRPäYLOHV 8VRGH6WLWFKHU
SRVLEOHTXHHVWDIXQFLäQQRVHD 3XHGHHVFXFKDUVXVSURJUDPDVGH
%XVFDU FRPSDWLEOH UDGLRIDYRULWRV\DVHDQQRWLFLDVFRಢ
0DQWHQJDSXOVDGRWRYSDUD PHGLDGHSRUWHVHWFHQ
DYDQ]DURUHWURFHGHUUÒSLGDPHQWH $MXVWHVGHWRQRV
DSOLFDFLäQ5HFLEDORVëOWLPRVSURJUDಢ
 3XOVHNGXUDQWHODUHSURGXFFLäQ PDVGH135&11)R[%%&&DURಢ
5HSURGXFLUODPëVLFDUHSHWLGDPHQWH OOD60RGFDVW-RH5RJDQ0DGGRZ
3XOVHUGXUDQWHODUHSURGXFFLäQ 5XVK)UHVK$LU)UHDNRQRPLFV5Dಢ
࿢ 5HSURGXFHUHSHWLGDPHQWHODPëಢ GLRODE7KH0RWK\PXFKRVPÒV(OLMD
VLFDDFWXDO HQWUHPÒVGHSRGFDVWVEDMRGHಢ
࿢ $//5HSURGXFHUHSHWLGDPHQWH PDQGD\HPLVRUDVORFDOHVGH$0)0
WRGDODPëVLFD HQGLUHFWR
࿢ 2))9XHOYHDODUHSURGXFFLäQQRUಢ  ,QVWDOHODDSOLFDFLäQ6WLWFKHUHQVX
PDO VPDUWSKRQH
 &RQHFWHVXVPDUWSKRQH\HOVLVಢ
1RWD
WHPDGHLQIRHQWUHWHQLPLHQWRPHಢ
'HSHQGLHQGRGHOWHOÚIRQRPäYLOHV
GLDQWHHOSXHUWR86%RODWHFQRORಢ
SRVLEOHTXHHVWDIXQFLäQQRVHD
JÞDLQDOÒPEULFD%OXHWRRWK
FRPSDWLEOH  3DUDPÒVGHWDOOHVFRQVXOWH
$MXVWHVGHOWRQR PHQëGH)0
$0  
'LVSRVLWLYRVH[WHUQRV 

ဈ L3KRQHFRQH[LäQ86% 3DXVD
ဈ 7HOÚIRQR$QGURLGWHFQRORJÞD 3XOVH GXUDQWHODUHSURGXFFLäQ
LQDOÒPEULFD%OXHWRRWK 3XOVHSDUDUHDQXGDUODUHSURGXFಢ
FLäQ
 $FWLYHODDSOLFDFLäQ6WLWFKHU
 3DUDUHSURGXFLUODDSOLFDFLäQ6WLWಢ ,UDODHPLVRUDVLJXLHQWH
FKHUSXOVH!HQODFHFRQ 3XOVHYSDUDLUDODHPLVRUDVLಢ
VPDUWSKRQH JXLHQWH
8VRGHOPHQëGH6WLWFKHU
$TXÞVHPXHVWUDQORVGDWRVGLVSRQLಢ
EOHVVREUHODHPLVRUDHQHOVHUYLGRU
GH6WLWFKHU
1RWD
6LHOVPDUWSKRQHQRHVWÒFRQHFWDGR  3XOVH0(18GXUDQWHODUHSURGXFಢ
DOVLVWHPDGHLQIRHQWUHWHQLPLHQWRR FLäQ
VLODDSOLFDFLäQQRHVWÒLQVWDODGDHQ
HOVPDUWSKRQHHOPHQëGH6WLWFKHU
QRVHDFWLYD
3XOJDUKDFLDDUULED\SXOJDUKDFLD
DEDMR
 3XOVH6WLWFKHU 3XHGHFDOLILFDUODVFDQFLRQHVXVDQGR
 $SDUHFHODSDQWDOODGH6WLWFKHU ORVLFRQRVGHSXOJDUKDFLDDUULED\
SXOJDUKDFLDDEDMR
3XOVHGRHHQODSDQWDOODGH6WLWFKHU

*XDUGDUODHPLVRUDHQIDYRULWRV
3XOVHISDUDJXDUGDUODHPLVRUDHQಢ
WUHVXVHPLVRUDVIDYRULWDV
 'LVSRVLWLYRVH[WHUQRV

 3XOVHDMXVWHVGHOWRQR

 8WLOLFH5\6SDUDGHVSOD]DUVH  3XOVHODSDQWDOODSDUDYHUODDSDQಢ
SRUODOLVWD6HOHFFLRQHODHPLVRUD  3DUDPÒVGHWDOOHVFRQVXOWH WDOODFRPSOHWD3XOVHGHQXHYROD
GHVHDGDSDUDHVFXFKDUOD $MXVWHVGHOWRQR PHQëGH)0 SDQWDOODSDUDYROYHUDODSDQWDOOD
$MXVWHVGHWRQRV $0   DQWHULRU
 3XOVH0(18GXUDQWHODUHSURGXFಢ 1RWD
FLäQ 6LHOGLVSRVLWLYRGHDOPDFHQDPLHQWR
9LVXDOL]DFLäQGHLPÒJHQHV 86%\DHVWÒFRQHFWDGRSXOVH
9HUXQDLPDJHQ !IRWRV\YÞGHRV!)XHQWH6!86%
IRWRV SDUDYHUORVDUFKLYRVGHLPDಢ
 &RQHFWHHOGLVSRVLWLYRGHDOPDFHಢ JHQ
QDPLHQWR86%TXHFRQWLHQHORV
DUFKLYRVGHLPDJHQDOSXHUWR 3RUPRWLYRVGHVHJXULGDGDOJXQDV
86% IXQFLRQHVHVWÒQGHVDFWLYDGDVPLHQಢ
WUDVHOYHKÞFXORHVWÒHQPRYLPLHQWR
6HYLVXDOL]DUÒODLPDJHQ
'LVSRVLWLYRVH[WHUQRV 

5RWDUXQDLPDJHQ
(QODSDQWDOODGHODLPDJHQSXOVHX
RYSDUDURWDUODLPDJHQHQVHQWLGR
KRUDULRRHQVHQWLGRDQWLKRUDULR

$PSOLDUXQDLPDJHQ
(QODSDQWDOODGHODLPDJHQSXOVH
ZSDUDDPSOLDUODLPDJHQ

8VRGHOPHQëGHLPDJHQ86%
 (QODSDQWDOODGHODLPDJHQSXOVH
0(18$SDUHFHHOPHQëGHLPDಢ  3XOVHHOPHQëGHVHDGR
9HUXQDSUHVHQWDFLäQGH JHQ86%
ဈ OLVWDGHDUFKLYRVGHLPDJHQ
GLDSRVLWLYDV 0XHVWUDWRGDVODVOLVWDVGHDUಢ
(QODSDQWDOODGHODLPDJHQSXOVHW FKLYRVGHLPDJHQ
࿢ 6HLQLFLDUÒODSUHVHQWDFLäQGHGLDಢ ဈ RUGHQDUSRUWÞWXOR0XHVWUDODV
SRVLWLYDV LPÒJHQHVRUGHQDGDVSRUWÞWXOR
࿢ 3XOVHODSDQWDOODSDUDFDQFHODUOD ဈ RUGHQDUSRUIHFKD0XHVWUDODV
SUHVHQWDFLäQGHGLDSRVLWLYDVGXಢ LPÒJHQHVRUGHQDGDVSRUIHFKD
UDQWHODUHSURGXFFLäQ
ဈ WLHPSRGHODSUHVHQWDFLäQGH
9HUODLPDJHQDQWHULRUR GLDSRVLWLYDV6HOHFFLRQHHOLQಢ
VLJXLHQWH WHUYDORHQWUHGLDSRVLWLYDV
(QODSDQWDOODGHODLPDJHQSXOVHM
RNSDUDYHUODLPDJHQDQWHULRURVLಢ
JXLHQWH
 'LVSRVLWLYRVH[WHUQRV

ဈ LQGLFDFLäQGHKRUD
WHPSHUDWXUD3DUDPRVWUDUHO
UHORM\ODWHPSHUDWXUDDSDQWDOOD
FRPSOHWDVHOHFFLRQH$FWLYDGR
R'HVDFWLYDGR
ဈ DMXVWHVGHSDQWDOOD$MXVWHHO
EULOOR\HOFRQWUDVWH
 8QDYH]UHDOL]DGRVORVDMXVWHV
SXOVHT

5HSURGXFLUYÞGHRV
 3XOVHODSDQWDOODSDUDRFXOWDU
5HSURGXFLUXQDUFKLYRGHYÞGHR PRVWUDUODEDUUDGHFRQWURO3XOVH 3DXVD
GHQXHYRODSDQWDOODSDUDYROYHUD 3XOVHGXUDQWHODUHSURGXFFLäQ
 &RQHFWHHOGLVSRVLWLYRGHDOPDFHಢ
QDPLHQWR86%TXHFRQWLHQHORV ODSDQWDOODDQWHULRU 3XOVHOഓSDUDUHDQXGDUODUHSURGXFಢ
DUFKLYRVGHYÞGHRDOSXHUWR86% 1RWD FLäQ
6HUHSURGXFLUÒHOYÞGHR 6LHOGLVSRVLWLYRGHDOPDFHQDPLHQWR
86%\DHVWÒFRQHFWDGRSXOVH 5HSURGXFLUHOYÞGHRVLJXLHQWH
!IRWRV\YÞGHRV!)XHQWH6!86% 3XOVHOഓSDUDUHSURGXFLUHOYÞGHRVLಢ
YÞGHRV SDUDUHSURGXFLUHODUFKLYR JXLHQWH
GHYÞGHR
5HSURGXFLUHOYÞGHRDQWHULRU
/DIXQFLäQGHYÞGHRQRHVWÒGLVSRQLಢ 3XOVHഓNDQWHVGHVHJXQGRVGHO
EOHPLHQWUDVFRQGXFH 'HDFXHUGR WLHPSRGHUHSURGXFFLäQSDUDUHSURಢ
FRQHOUHJODPHQWRGHWUÒILFRVäORHVWÒ GXFLUHOYÞGHRDQWHULRU
GLVSRQLEOHFXDQGRHOYHKÞFXORHVWÒ
DSDUFDGR
'LVSRVLWLYRVH[WHUQRV 

9ROYHUDOSULQFLSLRGHOYÞGHR ဈ DMXVWHVGHSDQWDOOD$MXVWHHO
DFWXDO EULOOR\HOFRQWUDVWH
3XOVHഓNGHVSXÚVGHVHJXQGRVGHO ဈ DMXVWHVGHOWRQR$MXVWHODFRQಢ
WLHPSRGHUHSURGXFFLäQ ILJXUDFLäQGHVRQLGR3DUDPÒV
GHWDOOHVFRQVXOWH$MXVWHVGHO
([SORUDFLäQKDFLDGHODQWHR WRQR PHQëGH)0$0  
KDFLDDWUÒV  8QDYH]UHDOL]DGRVORVDMXVWHV
0DQWHQJDSXOVDGRഓNROഓGXUDQWH SXOVHT
ODUHSURGXFFLäQSDUDUHWURFHGHUR
DYDQ]DUUÒSLGDPHQWH6XHOWHHOERWäQ ,GLRPDGHORVVXEWÞWXORV
SDUDUHDQXGDUODUHSURGXFFLäQDYHಢ 6LHODUFKLYRGHYÞGHRWLHQHXQLGLRPD
ORFLGDGQRUPDO GHORVVXEWÞWXORVHOXVXDULRSXHGHYHU
 3XOVHHOPHQëGHVHDGR GLFKRLGLRPD
9HUORHQPRGRGHSDQWDOOD ဈ OLVWDGHDUFKLYRVGHYÞGHR  (QODSDQWDOODGHYÞGHRSXOVHN
FRPSOHWD 0XHVWUDWRGDVODVOLVWDVGHDUಢ
(QODSDQWDOODGHYÞGHRSXOVH[SDUD FKLYRVGHYÞGHR
YHUORDSDQWDOODFRPSOHWD ဈ LQGLFDFLäQGHKRUD
3XOVHGHQXHYR[SDUDYROYHUDOD WHPSHUDWXUD3DUDPRVWUDUHO
SDQWDOODDQWHULRU UHORM\ODWHPSHUDWXUDDSDQWDOOD
FRPSOHWDVHOHFFLRQH$FWLYDGR
8VRGHOPHQëGHYÞGHR86% R'HVDFWLYDGR

 (QODSDQWDOODGHYÞGHRSXOVH
0(18$SDUHFHHOPHQëGHYÞGHR
86%
 'LVSRVLWLYRVH[WHUQRV

 3XOVHR! 1RWD  3XOVHR!


)RUPDWRGHVXEWÞWXORVUHSURGXFLಢ
EOHVVPL
(OQRPEUHGHODUFKLYRGHVXEWÞWXORV
VPL GHEHUÞDVHUHOPLVPRTXHHO
QRPEUHGHODUFKLYRGHYÞGHR
,GLRPDGHDXGLR
6LHODUFKLYRGHYÞGHRWLHQHXQLGLRPD
GHDXGLRHOXVXDULRSXHGHVHOHFFLRಢ
QDUHOLGLRPDGHDXGLR
 (QODSDQWDOODGHYÞGHRSXOVHN

 3XOVHO  3XOVHO
1RWD 1RWD
(OXVXDULRSXHGHVHOHFFLRQDUXQRGH (OXVXDULRSXHGHVHOHFFLRQDUXQRGH
ORVLGLRPDVGHVXEWÞWXORVDGPLWLGRV ORVLGLRPDVGHVXEWÞWXORVDGPLWLGRV
SRUHODUFKLYRGHYÞGHR'LY; SRUHODUFKLYRGHYÞGHR'LY;
6LKD\XQLGLRPDGHORVVXEWÞWXORVHO 6LKD\XQLGLRPDGHORVVXEWÞWXORVHO
XVXDULRSXHGHVHOHFFLRQDUHOLGLRPD XVXDULRSXHGHVHOHFFLRQDUHOLGLRPD
GHORVVXEWÞWXORVRELHQDFWLYDUORR GHORVVXEWÞWXORVRELHQDFWLYDUORR
GHVDFWLYDUOR GHVDFWLYDUOR
'LVSRVLWLYRVH[WHUQRV 

5HSURGXFLUYÞGHRVGHVGHXQ 1RWD 8VRGHOPHQëGHYÞGHR$8;


GLVSRVLWLYRDX[LOLDU 6LHOGLVSRVLWLYRDX[LOLDU\DHVWÒFRಢ  (QODSDQWDOODGHYÞGHR$8;
&RQHFWHHOGLVSRVLWLYRDX[LOLDUTXH QHFWDGRSXOVH!IRWRV\YÞGHRV! SXOVH0(18$SDUHFHHOPHQë
FRQWLHQHODIXHQWHGHYÞGHRDOWHUPLQDO )XHQWH6!$8; YÞGHRV SDUDUHಢ $8;
GHHQWUDGD$8;8QDYH]TXHHOVLVಢ SURGXFLUXQYÞGHRGHOGLVSRVLWLYRDXಢ
WHPDGHLQIRHQWUHWHQLPLHQWRWHUPLQH [LOLDU
GHOHHUODLQIRUPDFLäQGHOGLVSRVLWLYR (QHOFDVRGHOL3RGL3KRQHFRಢ
DX[LOLDUVHUHSURGXFLUÒDXWRPÒWLFDಢ QHFWHHOL3RGL3KRQHDOWHUPLQDOGH
PHQWH HQWUDGD$8;XVDQGRHOFDEOH$8;
SDUDL3RGL3KRQHSDUDUHSURGXFLUHO
DUFKLYRGHYÞGHRGHOL3RGL3KRQH
/DIXQFLäQGHYÞGHRQRHVWÒGLVSRQLಢ
EOHPLHQWUDVFRQGXFH 'HDFXHUGR
FRQHOUHJODPHQWRGHWUÒILFRVäORHVWÒ
GLVSRQLEOHFXDQGRHOYHKÞFXORHVWÒ
DSDUFDGR
 3XOVHHOPHQëGHVHDGR
ဈ DMXVWHVGHOWRQR$MXVWHODFRQಢ
ILJXUDFLäQGHVRQLGR3DUDPÒV
GHWDOOHVFRQVXOWH$MXVWHVGHO
WRQR PHQëGH)0$0  
 'LVSRVLWLYRVH[WHUQRV

ဈ LQGLFDFLäQGHKRUD
WHPSHUDWXUD3DUDPRVWUDUHO
UHORM\ODWHPSHUDWXUDDSDQWDOOD
FRPSOHWDVHOHFFLRQH$FWLYDGR
R'HVDFWLYDGR
ဈ DMXVWHVGHSDQWDOOD$MXVWHHO
EULOOR\HOFRQWUDVWH
 8QDYH]UHDOL]DGRVORVDMXVWHV
SXOVHT
7HOÚIRQR 

'HELGRDODJUDQYDULHGDGGHGLVSRಢ
7HOÚIRQR %OXHWRRWKŸ
VLWLYRV%OXHWRRWK\GHVXVYHUVLRQHV
'HVFULSFLäQGHODWHFQRORJÞD GHILUPZDUHVXGLVSRVLWLYRSXHGH
UHVSRQGHUGHIRUPDGLIHUHQWHDOXWLಢ
LQDOÒPEULFD%OXHWRRWK
%OXHWRRWKŸ   OL]DUORPHGLDQWHODFRQH[LäQ%OXHಢ
/DWHFQRORJÞDLQDOÒPEULFD%OXHWRRWK WRRWK
7HOÚIRQRPDQRVOLEUHV   HVWDEOHFHXQHQODFHLQDOÒPEULFRHQಢ
WUHGRVGLVSRVLWLYRVFRPSDWLEOHVFRQ 3DUDFXDOTXLHUGXGDUHODFLRQDGD
Bluetooth. Después de la sincroniza- FRQODIXQFLRQDOLGDG%OXHWRRWKGHVX
ción inicial inicial, los dos dispositivos WHOÚIRQRFRQVXOWHHOPDQXDOGHOGLVಢ
SXHGHQFRQHFWDUVHDXWRPÒWLFDPHQWH SRVLWLYR
FDGDYH]TXHORVHQFLHQGD%OXHWRRWK (PSDUHMDU\FRQHFWDU
SHUPLWHODWUDQVPLVLäQLQDOÒPEULFDGH
GLVSRVLWLYRV%OXHWRRWK
LQIRUPDFLäQHQWUHWHOÚIRQRV3'$X
RWURVGLVSRVLWLYRV%OXHWRRWKDFRUWD 3DUDXWLOL]DUODIXQFLäQ%OXHWRRWK
GLVWDQFLDXVDQGRODIUHFXHQFLDGH DVHJëUHVHGHDFWLYDU%OXHWRRWKHQVX
*+]SDUDWHFQRORJÞDVGHWHOHFRಢ GLVSRVLWLYR&RQVXOWHODJXÞDGHO
PXQLFDFLRQHVLQDOÒPEULFDVDFRUWD XVXDULRGHOGLVSRVLWLYR%OXHWRRWK
GLVWDQFLD'HQWURGHHVWHYHKÞFXOR 6LQRKD\QLQJëQGLVSRVLWLYR
ORVXVXDULRVSXHGHQUHDOL]DUOODPDಢ HPSDUHMDGRHQHOVLVWHPDGH
GDVHQPRGRGHPDQRVOLEUHVWUDQVಢ LQIRHQWUHWHQLPLHQWR
PLWLUGDWRVGHOPLVPRPRGR\UHSURಢ  3XOVHHQHOSDQHOGHPDQGRV
GXFLUDUFKLYRVPHGLDQWHVWUHDPLQJGH
DXGLRFRQHFWDQGRXQWHOÚIRQRPäYLO  3XOVHWHOÚIRQRHQHOPHQëGHLQLಢ
FRQHOVLVWHPD FLR\OXHJRSXOVH6Þ
1RWD
(QDOJXQRVOXJDUHVSXHGHKDEHU
UHVWULFFLRQHVSDUDHOXVRGHODWHFಢ
QRORJÞDLQDOÒPEULFD%OXHWRRWK
 7HOÚIRQR

 3XOVHHOGLVSRVLWLYRTXHGHVHD
HPSDUHMDUHQODSDQWDOODGHODOLVWD
GHEëVTXHGD
 6LHOGLVSRVLWLYRHVFRPSDWLಢ
EOHFRQ663 6HFXUH6LPSOH
3DLULQJ SXOVH6ÞHQODSDQಢ
WDOODHPHUJHQWHGHVXGLVSRಢ
VLWLYR%OXHWRRWK\GHOVLVWHPD
GHLQIRHQWUHWHQLPLHQWR

 3XOVH%XVFDUGLVSRVLWLYR  8QDYH]HPSDUHMDGRVFRUUHFWDಢ
%OXHWRRWKSDUDEXVFDUWHOÚIRQRV PHQWHHOGLVSRVLWLYR%OXHWRRWK\HO
%OXHWRRWK VLVWHPDGHLQIRHQWUHWHQLPLHQWR
DSDUHFHODSDQWDOODGHOWHOÚIRQR
HQHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR

 6LQRHVFRPSDWLEOHFRQ663
6HFXUH6LPSOH3DLULQJ LQಢ
WURGX]FDHOFäGLJR3,1HQVX
GLVSRVLWLYR%OXHWRRWKFRPR
VHPXHVWUDHQODSDQWDOODGH
LQIRUPDFLäQ
7HOÚIRQR 

1RWD
6LKD\XQGLVSRVLWLYR%OXHWRRWKTXH
\DHVWXYRFRQHFWDGRSUHYLDPHQWHDO
VLVWHPDGHLQIRHQWUHWHQLPLHQWRHO
VLVWHPDHMHFXWDXQDFRQH[LäQDXWRಢ
PÒWLFD6LQHPEDUJRVLODIXQFLäQ
%OXHWRRWKGHVXGLVSRVLWLYR%OXHಢ
WRRWKHVWÒGHVDFWLYDGDDSDUHFHUÒ
XQPHQVDMHGHHUURUHQHOVLVWHPDGH
LQIRHQWUHWHQLPLHQWR
6LKD\XQGLVSRVLWLYRHPSDUHMDGRHQ
HOVLVWHPDGHLQIRHQWUHWHQLPLHQWR
6LODFRQH[LäQIDOODVHPXHVWUDXQ  3XOVHHQHOSDQHOGHPDQGRV  3XOVHHOGLVSRVLWLYRTXHGHVHD
PHQVDMHGHHUURUHQHOVLVWHPDGH HPSDUHMDUHQODSDQWDOODGHODOLVWD
LQIRHQWUHWHQLPLHQWR  3XOVHDMXVWHVHQHOPHQëGHLQLಢ
GHEëVTXHGD
FLR
1RWD  6LHOGLVSRVLWLYRHVFRPSDWLಢ
8QDYH]HPSDUHMDGRVFRUUHFWDಢ  3XOVHDMXVWHVGHFRQH[LäQ!
EOHFRQ663 6HFXUH6LPSOH
PHQWHHOGLVSRVLWLYR%OXHWRRWK\HO DMXVWHVGH%OXHWRRWK!HPSDUHMDU
3DLULQJ SXOVH6ÞHQODSDQಢ
VLVWHPDGHLQIRHQWUHWHQLPLHQWRVH GLVSRVLWLYR
WDOODHPHUJHQWHGHVXGLVSRಢ
GHVFDUJDDXWRPÒWLFDPHQWHOD  3XOVHVREUHHOGLVSRVLWLYRTXHGHಢ VLWLYR%OXHWRRWK\GHOVLVWHPD
DJHQGDWHOHIäQLFD6LQHPEDUJRHV VHDHPSDUHMDUHQODSDQWDOODHPಢ GHLQIRHQWUHWHQLPLHQWR
SRVLEOHTXHODDJHQGDWHOHIäQLFDQR SDUHMDUGLVSRVLWLYR\OXHJRFRQWLಢ
VHGHVFDUJXHDXWRPÒWLFDPHQWHHQ QëHFRQHOSDVR6LHOGLVSRVLWLYR
IXQFLäQGHOWLSRGHWHOÚIRQR(QWDO GHVHDGRQRDSDUHFHHQODSDQWDಢ
FDVRSURFHGDDGHVFDUJDODDJHQGD OODHPSDUHMDUGLVSRVLWLYRSXOVH
HQVXWHOÚIRQR %XVFDUGLVSRVLWLYR%OXHWRRWKSDUD
EXVFDUHOGLVSRVLWLYRGHVHDGR
 7HOÚIRQR

 6LQRHVFRPSDWLEOHFRQ663  8QDYH]HPSDUHMDGRVFRUUHFWDಢ ဈ (OWHOÚIRQRFRQHFWDGRVHLGHQWLಢ


6HFXUH6LPSOH3DLULQJ LQಢ PHQWHHOGLVSRVLWLYR%OXHWRRWK\HO ILFDPHGLDQWHODPDUFD\
WURGX]FDHOFäGLJR3,1HQVX VLVWHPDGHLQIRHQWUHWHQLPLHQWR ဈ /DPDUFDQKLQGLFDTXHHVWÒQ
GLVSRVLWLYR%OXHWRRWKFRPR DSDUHFHQKHQODSDQWDOODHPSDಢ DFWLYDGDVODVIXQFLRQHVGHPDಢ
VHPXHVWUDHQODSDQWDOODGH UHMDUGLVSRVLWLYR QRVOLEUHV\GHPëVLFDGHOWHOÚಢ
LQIRUPDFLäQ IRQR
ဈ /DPDUFDKLQGLFDTXHVäORHVWÒ
DFWLYDGDODIXQFLäQGHPDQRVOLಢ
EUHV
ဈ /DPDUFDQLQGLFDTXHVäORHVWÒ
DFWLYDGDODIXQFLäQGHPëVLFD
%OXHWRRWK
1RWD
8QDYH]HPSDUHMDGRVFRUUHFWDಢ
PHQWHHOGLVSRVLWLYR%OXHWRRWK\HO
VLVWHPDGHLQIRHQWUHWHQLPLHQWRVH
7HOÚIRQR 

GHVFDUJDDXWRPÒWLFDPHQWHOD
DJHQGDWHOHIäQLFD6LQHPEDUJRHV
SRVLEOHTXHODDJHQGDWHOHIäQLFDQR
VHGHVFDUJXHDXWRPÒWLFDPHQWHHQ
IXQFLäQGHOWLSRGHWHOÚIRQR(QWDO
FDVRSURFHGDDGHVFDUJDODDJHQGD
HQVXWHOÚIRQR
1RWD
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
SXHGHUHJLVWUDUKDVWDFLQFRGLVSRVLಢ
WLYRV%OXHWRRWK
1RWD
 3XOVH2.
6LODFRQH[LäQIDOODDSDUHFHXQ 'HVFRQHFWDUHOGLVSRVLWLYR
PHQVDMHGHHUURUHQHOVLVWHPDGH %OXHWRRWK &RQHFWDUHOGLVSRVLWLYR
LQIRHQWUHWHQLPLHQWR
 3XOVHHQHOSDQHOGHPDQGRV %OXHWRRWK
&RPSUREDUHOGLVSRVLWLYR
 3XOVHDMXVWHVHQHOPHQëGHLQLಢ  3XOVHHQHOSDQHOGHPDQGRV
%OXHWRRWKFRQHFWDGR FLR  3XOVHDMXVWHVHQHOPHQëGHLQLಢ
 3XOVHHQHOSDQHOGHPDQGRV  3XOVHDMXVWHVGHFRQH[LäQ! FLR
 3XOVHDMXVWHVHQHOPHQëGHLQLಢ DMXVWHVGH%OXHWRRWK!HPSDUHMDU  3XOVHDMXVWHVGHFRQH[LäQ!
FLR GLVSRVLWLYR DMXVWHVGH%OXHWRRWK!HPSDUHMDU
 3XOVHDMXVWHVGHFRQH[LäQ!  3XOVHHOQRPEUHGHOGLVSRVLWLYR GLVSRVLWLYR
DMXVWHVGH%OXHWRRWK!HPSDUHMDU TXHGHVHDGHVFRQHFWDU  3XOVHHOQRPEUHGHOGLVSRVLWLYR
GLVSRVLWLYR TXHGHVHDFRQHFWDU
 (OGLVSRVLWLYRHPSDUHMDGRDSDUHಢ
FHUÒFRQHOVÞPERORKVLHVWÒFRಢ
QHFWDGR
 7HOÚIRQR

 3XOVH(OLPLQDU

 3XOVH2.  3XOVH\HQODSDQWDOODR\ZHQHO
 3XOVH6Þ PDQGRDGLVWDQFLDHQHOYRODQWH
(OLPLQDUHOGLVSRVLWLYR%OXHWRRWK
1RWD
6L\DQRQHFHVLWDXWLOL]DUHOGLVSRVLWLYR 6LSXOVDXQQëPHURLQFRUUHFWRSXOVH
%OXHWRRWKSXHGHXVWHGHOLPLQDUOR 7HOÚIRQRPDQRVOLEUHV
෢SDUDERUUDUHOQëPHURLQWURGXFLGR
 3XOVHHQHOSDQHOGHPDQGRV GÞJLWRSRUGÞJLWRRPDQWHQJDSXOVDGR
5HDOL]DUXQDOODPDGD
 3XOVHDMXVWHVHQHOPHQëGHLQLಢ ෢SDUDERUUDUWRGRVORVGÞJLWRVGHO
LQWURGXFLHQGRXQQëPHURGH
FLR QëPHURLQWURGXFLGR
WHOÚIRQR
 3XOVHDMXVWHVGHFRQH[LäQ! &DPELDUXQDOODPDGDDO
DMXVWHVGH%OXHWRRWK!HPSDUHMDU  ,QWURGX]FDHOQëPHURGHWHOÚIRQR
XVDQGRHOWHFODGRHQODSDQWDOOD
WHOÚIRQRPäYLO PRGRSULYDGR
GLVSRVLWLYR
GHOWHOÚIRQR  6LGHVHDFDPELDUODOODPDGDDOWHಢ
OÚIRQRPäYLOGHVGHHOPDQRVOLಢ
EUHVGHOYHKÞFXORSXOVHP
7HOÚIRQR 

1RWD 3DUDUHFKD]DUODOODPDGDSXOVH
1RHVSRVLEOHXWLOL]DUODUHOODPDGDVL #QHQHOPDQGRDGLVWDQFLDHQ
QRKD\UHJLVWURGHOODPDGDV HOYRODQWHRSXOVH5HFKD]DUHQOD
SDQWDOOD
&RQWHVWDUOODPDGDV
 &XDQGRUHFLEHXQDOODPDGDGHWHಢ
OÚIRQRDWUDYÚVGHOWHOÚIRQRPäYLO
%OXHWRRWKFRQHFWDGRODSLVWDTXH
VHHVWÒUHSURGXFLHQGRVHGHWLHQH
\HOWHOÚIRQRVXHQDPRVWUDQGROD
LQIRUPDFLäQUHOHYDQWH

 6LGHVHDYROYHUDFDPELDUODOODಢ
PDGDDOPDQRVOLEUHVSXOVHGH
QXHYRP/DOODPDGDVHFDPELDDO
PDQRVOLEUHVGHOYHKÞFXOR

$FWLYDURGHVDFWLYDUHO 8VRGHOPHQëDJHQGDWHOHIäQLFD
PLFUäIRQR  3XOVH$JHQGDWHOHIäQLFDHQOD
3XHGHDFWLYDURGHVDFWLYDUHOPLFUäಢ SDQWDOODGHOWHOÚIRQR
IRQRSXOVDQGRQ

/ODPDUXVDQGRODUHOODPDGD
(QHOPDQGRDGLVWDQFLDHQHOYRODQWH  3DUDKDEODUSRUWHOÚIRQRSXOVH
SXOVH\ZSDUDPRVWUDUODOLVWDGHOODಢ \ZHQHOPDQGRDGLVWDQFLDHQHO
PDGDVRPDQWHQJDSXOVDGR\HQOD YRODQWHRSXOVH$FHSWDUHQODSDQಢ
SDQWDOODGHOWHOÚIRQR WDOOD
 7HOÚIRQR

 8WLOLFH5\6SDUDGHVSOD]DUVH  3XOVHHOQëPHURSDUDPDUFDU  3XOVHRHQODSDQWDOODGHOD


SRUODOLVWD DJHQGDWHOHIäQLFD
 6HOHFFLRQHODHQWUDGDGHOD %XVFDUHQWUDGDVGHODDJHQGD
DJHQGDWHOHIäQLFDDODTXHGHVHD WHOHIäQLFD
OODPDU  3XOVH$JHQGDWHOHIäQLFDHQOD
SDQWDOODGHOWHOÚIRQR
7HOÚIRQR 

 8WLOLFHHOWHFODGRSDUDLQWURGXFLUHO IXQFLäQGHOWLSRGHWHOÚIRQR(QWDO $SDUHFHQORVQRPEUHVTXHLQFOXಢ


QRPEUHTXHGHVHDEXVFDU3DUD FDVRSURFHGDDGHVFDUJDODDJHQGD \HQORVFDUDFWHUHVZ[\R
PÒVGHWDOOHVFRQVXOWH%XVFDU HQVXWHOÚIRQR ]HQODSDQWDOODGHODDJHQGDWHಢ
SRUQRPEUH  %XVFDUSRUQRPEUH OHIäQLFD
 6HOHFFLRQHODHQWUDGDGHOD 3RUHMHPSORVLHOXVXDULREXVFDHO  $PHGLGDTXHVHYD\DQLQWURGXಢ
DJHQGDWHOHIäQLFDDODTXHGHVHD QRPEUH$OH[ FLHQGRPÒVOHWUDVGHOQRPEUHVH
OODPDU LUÒDFRUWDQGRODOLVWDGHSRVLEOHV
 3XOVHDEFSDUDVHOHFFLRQDUHOSULಢ
QRPEUHV
PHUFDUÒFWHU
$SDUHFHQORVQRPEUHVTXHLQFOXಢ 5HDOL]DUXQDOODPDGDXVDQGRHO
\HQORVFDUDFWHUHVDERFHQ UHJLVWURGHOODPDGDV
ODSDQWDOODGHODDJHQGDWHOHIäಢ
QLFD  3XOVHUHJLVWURGHOODPDGDVHQOD
SDQWDOODGHOWHOÚIRQR
 3XOVHMNOSDUDVHOHFFLRQDUHOVHಢ
JXQGRFDUÒFWHU  3XOVHDERF
$SDUHFHQORVQRPEUHVTXHLQFOXಢ
\HQORVFDUDFWHUHVMNROHQ
ODSDQWDOODGHODDJHQGDWHOHIäಢ
QLFD
 3XOVHHOQëPHURSDUDPDUFDU  3XOVHGHISDUDVHOHFFLRQDUHOWHUಢ
1RWD FHUFDUÒFWHU
8QDYH]HPSDUHMDGRVFRUUHFWDಢ $SDUHFHQORVQRPEUHVTXHLQFOXಢ
PHQWHHOGLVSRVLWLYR%OXHWRRWK\HO \HQORVFDUDFWHUHVGHRIHQ
VLVWHPDGHLQIRHQWUHWHQLPLHQWRVH ODSDQWDOODGHODDJHQGDWHOHIäಢ
GHVFDUJDDXWRPÒWLFDPHQWHOD QLFD
DJHQGDWHOHIäQLFD6LQHPEDUJRHV  3XOVHZ[\]SDUDVHOHFFLRQDUHO
SRVLEOHTXHODDJHQGDWHOHIäQLFDQR FXDUWRFDUÒFWHU /ODPDGDUHDOL]DGD!
VHGHVFDUJXHDXWRPÒWLFDPHQWHHQ
 7HOÚIRQR

/ODPDGDUHFLELGD! Este manual puede hacer referencia


 6HOHFFLRQHODHQWUDGDGHOD a ciertas marcas tales como iphone,
DJHQGDWHOHIäQLFDDODTXHGHVHD ipod, Bluetooth de las cuales GM no
OODPDU es titular, por lo que las referencias a
dichas marcas no constituyen en uso
5HDOL]DUXQDOODPDGDXVDQGR de las mismas en los términos
ORVQëPHURVGHPDUFDFLäQ establecido en la ley de la Propiedad
UÒSLGD Industrial y su reglamento.
0DQWHQJDSXOVDGRHOQëPHURGHPDUಢ
FDFLäQUÒSLGDXVDQGRHOWHFODGRHQOD
SDQWDOODGHOWHOÚIRQR
/ODPDGDSHUGLGD! 3DUDHVWHWLSRGHOODPDGDVVäORVH
SXHGHQXWLOL]DUORVQëPHURVGHPDUಢ
FDFLäQUÒSLGD\DPHPRUL]DGRVHQHO
WHOÚIRQRPäYLO6HDGPLWHQQëPHURV
GHPDUFDFLäQUÒSLGDGHKDVWDGÞJLಢ
WRVFRPRPÒ[LPR
3DUDORVQëPHURVGHPDUFDFLäQUÒಢ
SLGDGHGÞJLWRVPDQWHQJDSXOVDGR
HO«GÞJLWRSDUDOODPDUDOQëPHURGH
PDUFDFLäQUÒSLGD
7HOÚIRQR 


¾QGLFHDOIDEÚWLFR $
$QWHQDGHPÒVWLOILMR 
$QWHQDPXOWLEDQGD 
%
%OXHWRRWKŸ 
'
'LVSRVLWLYRDQWLUURER 
,
,QIRUPDFLäQJHQHUDO 
0
0DQHMR 
3
3HUVRQDOL]DFLäQ 
5
5DGLR$0)0 
5HSURGXFFLäQGHDXGLR 
5HSURGXFLUYÞGHRV 
5HVXPHQGHORVHOHPHQWRVGH
FRQWURO 
7
7HOÚIRQRPDQRVOLEUHV 
9
9LVXDOL]DFLäQGHLPÒJHQHV 
6LVWHPDGHDXGLR ,QWURGXFFLäQ  
5DGLR  
5HSURGXFWRUHVGHDXGLR  
7HOÚIRQR  
¾QGLFHDOIDEÚWLFR  
 ,QWURGXFFLäQ

(OSURFHVDGRUGHVRQLGRGLJLWDOOH
,QWURGXFFLäQ ,QIRUPDFLäQJHQHUDO
RIUHFHYDULRVPRGRVGHHFXDOL]DFLäQ
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR SUHGHILQLGRVSDUDRSWLPL]DUHOVRQLGR
SURSRUFLRQDLQIRHQWUHWHQLPLHQWRHQ
VXYHKÞFXORXVDQGRODWHFQRORJÞDPÒV (OVLVWHPDSXHGHDMXVWDUVHIÒFLOಢ
,QIRUPDFLäQJHQHUDO   PHQWHJUDFLDVDOGLVSRVLWLYRGHDMXVWH
DYDQ]DGD
'LVSRVLWLYRDQWLUURER   GHGLVHâRFXLGDGRHOUHSURGXFWRUGH
/DUDGLRSXHGHXVDUVHIÒFLOPHQWHUHಢ GLVFRVLQWHOLJHQWH\HOFRQWUROGHGLDO
5HVXPHQGHORVHOHPHQWRVGH JLVWUDQGRKDVWDHPLVRUDVGHUDGLR GHOPHQëPXOWLIXQFLäQ
FRQWURO   )0R$0FRQORVERWRQHVGH35(ಢ
0DQHMR   6,1721¾$>a@GHODVVHLVSÒJLQDV ࿢ /DVHFFLäQ,QIRUPDFLäQJHQHUDO
SURSRUFLRQDLQIRUPDFLäQVHQFLOOD
3HUVRQDOL]DFLäQ   (OUHSURGXFWRUGH&'LQWHJUDGR DFHUFDGHODVIXQFLRQHVGHOVLVWHPD
SXHGHUHSURGXFLUGLVFRV&'\GH03 GHLQIRHQWUHWHQLPLHQWR\XQUHVXಢ
:0$ GHDXGLR\HOUHSURGXFWRU PHQGHWRGRVORVGLVSRVLWLYRVGH
86%SXHGHUHSURGXFLUGLVSRVLWLYRVGH FRQWURO
DOPDFHQDPLHQWR86%FRQHFWDGRVR
UHSURGXFWRUHVL3RG ࿢ /DVHFFLäQ0DQHMRH[SOLFDORV
FRQWUROHVEÒVLFRVGHOVLVWHPDGHLQಢ
/DIXQFLäQGHFRQH[LäQGHOWHOÚIRQR IRHQWUHWHQLPLHQWR
%OXHWRRWK VäORGLVSRQLEOHSDUDHOPRಢ
GHORGHWLSR$ SHUPLWHUHDOL]DUOODPDಢ ,QGLFDFLRQHVHQSDQWDOOD
GDVWHOHIäQLFDVHQHOPRGRGHPDQRV /DVLQGLFDFLRQHVHQSDQWDOODSXHGHQ
OLEUHV\XVDUXQUHSURGXFWRUGHPëಢ GLIHULUGHODVLOXVWUDFLRQHVGHHVWHPDಢ
VLFDGHOWHOÚIRQR QXDO\DTXHODPD\RUÞDGHGLFKDVLQಢ
7DPELÚQVHSXHGHFRQHFWDUXQUHSURಢ GLFDFLRQHVGLILHUHQGHSHQGLHQGRGH
GXFWRUGHPëVLFDSRUWÒWLODODHQWUDGD ODFRQILJXUDFLäQGHOGLVSRVLWLYR\GHOD
GHVRQLGRH[WHULRU\GLVIUXWDUGHOH[ಢ HVSHFLILFDFLäQGHOYHKÞFXOR
FHOHQWHVRQLGRGHOVLVWHPDGHLQIRHQಢ
WUHWHQLPLHQWR
,QWURGXFFLäQ 

'LVSRVLWLYRDQWLUURER
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWRGLVಢ
SRQHGHXQVLVWHPDGHVHJXULGDG
HOHFWUäQLFRLQVWDODGRSDUDHYLWDUURಢ
ERV
(OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
VäORIXQFLRQDHQHOYHKÞFXORGRQGHVH
LQVWDOäLQLFLDOPHQWH\QRVHSRGUÒ
XVDUVLDOJXLHQORURED
 ,QWURGXFFLäQ

5HVXPHQGHORVHOHPHQWRVGHFRQWURO
9LVWDJHQHUDO
,QWURGXFFLäQ 

7LSR$5DGLR&'03$8;  5DQXUDGHOGLVFR JXUDUODIUHFXHQFLDGHHPLVLäQ


86%L3RG%OXHWRRWK 6HWUDWDGHODUDQXUDSRUODTXHVH PDQXDOPHQWHPDQWHQLHQGR
7LSR%5DGLR&'03$8; LQVHUWDQRH[WUDHQORVGLVFRVFRPಢ SXOVDGRVHVWRVERWRQHV
 ,QGLFDFLäQ SDFWRV ဈ 3XOVHHVWRVERWRQHVPLHQWUDV
 %RWäQ)$925,72>)$9@ XVDORVPRGRVGHUHSURGXFFLäQ
3DQWDOODGHHVWDGRHLQIRUPDFLäQ GH&'0386%L3RGSDUDUHಢ
GHUHSURGXFFLäQUHFHSFLäQPHQë 3XOVHHVWHERWäQSDUDVHOHFFLRQDU SURGXFLULQVWDQWÒQHDPHQWHOD
 %RWäQ(1&(1','292/80(1 ODSÒJLQDGHFDQDOHVIDYRULWRV SLVWDDQWHULRURVLJXLHQWH
FRQFRQWURO JXDUGDGRV
3XHGHPDQWHQHUSXOVDGRVHVಢ
ဈ *LUHHOHQFHQGLGRDDFWLYDGRR  %RWäQ,1)250$&,Ä1>,1)2@ WRVERWRQHVSDUDUHWURFHGHU\
GHVDFWLYDGRSXOVDQGRHVWHERಢ ဈ 3XOVHHVWHERWäQSDUDYHUODLQಢ DYDQ]DUUÒSLGDPHQWHSRUORVWHಢ
WäQ IRUPDFLäQGHODUFKLYRFXDQGR PDVTXHVHHVWÒQUHSURGXಢ
ဈ *LUHHOFRQWUROSDUDDMXVWDUHO XVHORVPRGRVGHUHSURGXFFLäQ FLHQGR
YROXPHQJHQHUDO &'0386%L3RG  %RWäQ&'$8;
 %RWRQHVGH35(6,1721¾$>a@ ဈ 9LVXDOLFHLQIRUPDFLäQVREUH 3XOVHHOERWäQSDUDVHOHFFLRQDUOD
XQDHPLVRUDGHUDGLR\ODFDQಢ IXQFLäQGHDXGLRGH&'03$8;
ဈ 0DQWHQJDSXOVDGRFXDOTXLHUGH FLäQTXHVHUHSURGXFHDFWXDOಢ
HVWRVERWRQHVSDUDDâDGLUOD R86%L3RG%OXHWRRWK
PHQWHPLHQWUDVXVDODIXQFLäQ
HPLVRUDGHUDGLRDFWXDODODSÒಢ GHUDGLR  %RWäQ5$',2%$1'
JLQD)DYRULWRVDFWXDO &DPELDUHQWUHODIUHFXHQFLDGHUDಢ
 %RWRQHVG6((.F
ဈ 3XOVHFXDOTXLHUDGHHVWRVERWRಢ GLR)0R$0
QHVSDUDVHOHFFLRQDUHOFDQDO ဈ 3XOVHHVWRVERWRQHVPLHQWUDV
XVDODUDGLRSDUDEXVFDUDXWRಢ  %RWäQ&/2&.
DVRFLDGRDHVHERWäQ
PÒWLFDPHQWHHPLVRUDVFRQXQD 3DUDHQWUDUHQHOPHQëGHFRQILಢ
 %RWäQ(;38/6$5 UHFHSFLäQQÞWLGD3XHGHFRQILಢ JXUDFLäQGHKRUD\IHFKD
3XOVHHVWHERWäQ\H[WUDLJDHO
GLVFR
 ,QWURGXFFLäQ

 %RWäQ&21),*  %RWäQ3%$&. 0DQGRVGHVRQLGRGHOYRODQWH


3XOVHHVWHERWäQSDUDHQWUDUHQHO ဈ &DQFHODHOFRQWHQLGRLQWURGXಢ
PHQëGH&RQILJXUDFLäQGHOVLVಢ FLGRRYXHOYHDOPHQëDQWHULRU 0DQGRGHVRQLGRGHOYRODQWH7LSR
WHPD RSFLRQDO
 %RWäQ7(/º)2126,/(1&,2
 %RWäQ721( ဈ 3XOVHHVWHERWäQSDUDDFWLYDUHO
3XOVHHVWHERWäQSDUDDMXVWDUR PRGRGHWHOÚIRQR%OXHWRRWK
VHOHFFLRQDUHOPRGRGHFRQILJXUDಢ VäORSDUDHOPRGHORGHWLSR$
FLäQGHVRQLGR RSDUDDFWLYDURGHVDFWLYDUOD
 %RWäQ0(18781(FRQFRQWURO IXQFLäQGHVLOHQFLR VäORSDUDHO
PRGHORGHWLSR% 
ဈ 3XOVHHVWHERWäQSDUDPRVWUDU
HOPHQëDFWLYRDFWXDOPHQWHR ဈ 0DQWHQJDSXOVDGRHOERWäQ
VHOHFFLRQDUSUREDUHOFRQWHQLGR SDUDDFWLYDURGHVDFWLYDUODIXQಢ
GHODFRQILJXUDFLäQ\ORVYDORUHV FLäQGHVLOHQFLR VäORSDUDHO
GHFRQILJXUDFLäQ PRGHORGHWLSR$ 
ဈ *LUHHOPDQGRSDUDPRYHUR
FDPELDUHOFRQWHQLGRGHODFRQಢ  %RWäQ6LOHQFLR&ROJDU
ILJXUDFLäQRORVYDORUHVGHFRQಢ
ILJXUDFLäQ 3XOVHHOERWäQHQFXDOTXLHUDGH
ORVPRGRVGHUHSURGXFFLäQGH
 3XHUWR$8; PëVLFDSDUDDFWLYDU\GHVDFWLYDU
&RQHFWHXQGLVSRVLWLYRGHVRQLGR ODIXQFLäQVLOHQFLR(QHOPRGRDFಢ
H[WHULRUDHVWHSXHUWR WLYDGRSXHGHSXOVDUHVWHERWäQ
SDUDUHFKD]DUOODPDGDVRSDUDILಢ
QDOL]DUODOODPDGD
,QWURGXFFLäQ 

 %RWäQ/ODPDU 0DQGRGHVRQLGRGHOYRODQWH7LSR  %RWäQFRQWURO)XHQWH>G65&F@


ဈ 3XOVHHVWHERWäQSDUDFRQWHVWDU RSFLRQDO ဈ 3XOVHHOERWäQSDUDVHOHFFLRQDU
DODOODPDGDRHQWUDUHQHOPRGR XQPRGRGHUHSURGXFFLäQGH
GHVHOHFFLäQGHUHOODPDGD VRQLGR
ဈ 0DQWHQJDSXOVDGRHOERWäQ ဈ *LUHHOFRQWUROSDUDFDPELDUODV
SDUDHQWUDUHQHOUHJLVWURGHOODಢ HPLVRUDVGHUDGLRUHJLVWUDGDVR
PDGDVUHDOL]DGDVSDUDFDPELDU FDPELDUODPëVLFDTXHVHHVWÒ
HQWUHPRGRPDQRVOLEUHV\ UHSURGXFLHQGR
PRGRGHOODPDGDSULYDGDGXಢ  %RWRQHV9ROXPHQ>@
UDQWHXQDOODPDGD
ဈ 3XOVHHOERWäQSDUDVXELUHO
 %RWäQFRQWURO)XHQWH>G65&F@ YROXPHQ
ဈ 3XOVHHOERWäQSDUDVHOHFFLRQDU ဈ 3XOVHHOERWäQSDUDEDMDUHO
XQPRGRGHUHSURGXFFLäQGH YROXPHQ
VRQLGR
ဈ *LUHHOFRQWUROSDUDFDPELDUODV  %RWäQ6LOHQFLR&ROJDU
HPLVRUDVGHUDGLRUHJLVWUDGDVR 3XOVHHVWHERWäQSDUDDFWLYDUR 0DQHMR
FDPELDUODPëVLFDTXHVHHVWÒ GHVDFWLYDUODIXQFLäQVLOHQFLR
UHSURGXFLHQGR
%RWRQHV\GLVSRVLWLYRGHFRQWURO
 1RGLVSRQLEOH (OVLVWHPDGHLQIRHQWUHWHQLPLHQWRVH
 %RWRQHV9ROXPHQ>@ DFWLYDXVDQGRORVERWRQHVGHIXQFLäQ
ဈ 3XOVHHOERWäQSDUDVXELUHO HOFRQWUROGHGLDOPXOWLIXQFLäQ\HO
YROXPHQ PHQëTXHVHPXHVWUDHQODSDQWDOOD
ဈ 3XOVHHOERWäQSDUDEDMDUHO
YROXPHQ
 ,QWURGXFFLäQ

/RVERWRQHV\GLVSRVLWLYRVGHFRQWURO SXHGHYDULDUHQHOFDVRGHDXGLR &RQWUROGHYROXPHQ


XVDGRVHQHOVLVWHPDVRQORVVLJXLHQಢ %OXHWRRWKGHSHQGLHQGRGHOGLVSRVLಢ
WHV WLYR
࿢ %RWRQHV\FRQWUROGHOVLVWHPDGHLQಢ 3XOVHHOERWäQ(1&(1','2
IRHQWUHWHQLPLHQWR 92/80(1SDUDDSDJDUHOVLVWHPD
࿢ %RWRQHVGHOPDQGRDGLVWDQFLDGHO
YRODQWH $SDJDGRDXWRPÒWLFR
&RQHOHQFHQGLGR OODYHGHFRQWDFWR
(QFHQGLGRDSDJDGRGHO HVWÒGHVFRQHFWDGRVLVHHQFLHQGHHO
VLVWHPD VLVWHPDGHLQIRHQWUHWHQLPLHQWRPHಢ
GLDQWHHOERWäQ(1&(1','2
92/80(1HOVLVWHPDGHLQIRHQWUHಢ
WHQLPLHQWRVHDSDJDUÒDXWRPÒWLFDಢ
PHQWHFXDQGRKD\DQWUDQVFXUULGR
GLH]PLQXWRVGHVGHHOëOWLPRXVR *LUHHOFRQWURO(1&(1','2
92/80(1SDUDDMXVWDUHOYROXPHQ
࿢ 3XOVHORVERWRQHV92/80(1>@
HQHOFRQWUROGHOPDQGRDGLVWDQFLD
GHOYRODQWHSDUDDMXVWDUHOYROXPHQ
࿢ 6HPXHVWUDHOYROXPHQGHVRQLGR
DFWXDO
࿢ 6LVHHQFLHQGHHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRHOQLYHOGHYROXಢ
3XOVHHOERWäQ(1&(1','2 PHQYXHOYHDODVHOHFFLäQDQWHULRU
92/80(1SDUDHQFHQGHUHOVLVWHPD VLHPSUHTXHVHDLQIHULRUDOYROXಢ
&XDQGRHQFLHQGHHOVLVWHPDVHHVಢ PHQLQLFLDOPÒ[LPR 
FXFKDODëOWLPDHPLVRUDRFDQFLäQVHಢ
OHFFLRQDGDV 6LQHPEDUJRHVWR
,QWURGXFFLäQ 

&RQWURODXWRPÒWLFRGHOYROXPHQ $MXVWHVGHOWRQR
8QDYH]DFWLYDGDODFRQILJXUDFLäQGHO
YROXPHQGHVRQLGRVHJëQODYHORFLಢ
GDGHOYROXPHQVHUHJXODUÒDXWRPÒಢ
WLFDPHQWHVHJëQODYHORFLGDGGHOYHಢ
KÞFXORSDUDFRPSHQVDUHOUXLGRGHO
PRWRU\ORVQHXPÒWLFRV &RQVXOWH
&RQILJXUDFLäQGHOVLVWHPDඎ$MXVWHV
GHODUDGLRඎ9ROXPHQDXWRPÒWLFR 

/ÞPLWHGHOYROXPHQD
WHPSHUDWXUDHOHYDGD
6LODWHPSHUDWXUDLQWHULRUGHODUDGLR *LUHHOFRQWURO0(18781(SDUDVHಢ
HVPX\HOHYDGDHOVLVWHPDGHLQIRHQಢ OHFFLRQDUHOYDORUGHFRQWUROGHOWRQR
WUHWHQLPLHQWROLPLWDHOYROXPHQPÒಢ (Q$MXVWHVGHOWRQRVHSXHGHQFRQILಢ GHVHDGR\SXOVHDFRQWLQXDFLäQHO
[LPRFRQWURODEOH JXUDUGLIHUHQWHVFDUDFWHUÞVWLFDVGHO ERWäQ0(18781(
'HVHUQHFHVDULRHOYROXPHQGHVಢ VRQLGRSDUDHODXGLRGH)0$0\ODV
IXQFLRQHVGHFDGDUHSURGXFWRUGHDXಢ (VSRVLEOHLQLFLDOL]DUODRSFLäQVHOHFಢ
FLHQGHDXWRPÒWLFDPHQWH FLRQDGDSXOVDQGRGXUDQWHXQSHULRGR
GLR
SURORQJDGRHOERWäQ0(18781(HQ
3XOVHHOERWäQ721(FXDQGRXVHHO HOPRGRGHFRQILJXUDFLäQGHOWRQRR
PRGRGHIXQFLRQDPLHQWRFRUUHVSRQಢ LQLFLDOL]DUWRGDVODVRSFLRQHVGHO
GLHQWH PRGRGHFRQILJXUDFLäQGHOWRQRSXOಢ
*LUHHOPDQGR0(18781(SDUDVHಢ VDQGRGXUDQWHXQSHULRGRSURORQJDGR
OHFFLRQDUHOPRGRGHFRQWUROGHOWRQR HOERWäQ721(
GHVHDGR\OXHJRSXOVHHOERWäQ
0(18781(
 ,QWURGXFFLäQ

$MXVWHVGHWRQRV 6HOHFFLRQDUIXQFLäQ 5HSURGXFFLäQGHDXGLRGH&'03


࿢ *UDYHV$MXVWHHOQLYHOGHORVJUDಢ 86%L3RG%OXHWRRWKRHQWUDGD $8;
YHVGHD 5DGLR)0$0 GHVRQLGRH[WHULRU
࿢ 0HGLRV$MXVWHHOQLYHOGHORVPHಢ
GLRVGHD
࿢ $JXGRV$MXVWHHOQLYHOGHORVDJXಢ
GRVGHD
࿢ 'LVWULEXFLäQGHOYROXPHQGHODQWH
GHWUÒV$MXVWHHOEDODQFHHQWUHORV
DOWDYRFHVGHODQWHURWUDVHURGH
GHODQWHURDWUDVHURHQHOPRGHOR
GHYHKÞFXORFRQVLVWHPDGHVHLVDOಢ
WDYRFHV
࿢ %DODQFH$MXVWHHOEDODQFHGHORV
DOWDYRFHVL]TXLHUGRGHUHFKRGH
L]TXLHUGRDGHUHFKR 3XOVHHOERWäQ5$',2%$1'SDUDVHಢ 3XOVHUHSHWLGDPHQWHHOERWäQ&'
࿢ (4 HFXDOL]DGRU VHOHFFLRQDR OHFFLRQDUODUDGLR)0R$0 $8;SDUDGHVSOD]DUVHSRUODVIXQFLRಢ
DSDJDHOHVWLORGHOVRQLGR $3$ಢ 3XOVHHOERWäQ0(18781(SDUD QHVGHOUHSURGXFWRUGHDXGLRODIXQಢ
*$5ඐ3RSඐ5RFNඐ&OÒVLFDඐ DEULUHOPHQë)0$0TXHLQFOX\HRSಢ FLäQ$8;SDUDGLVFRV&'03RHO
7HUWXOLDඐ&RXQWU\  FLRQHVSDUDVHOHFFLRQDUODVHPLVRUDV UHSURGXFWRUGHDXGLR%OXHWRRWK86%
RL3RGFRQHFWDGR &'03ඎ$8;ඎ
86%RL3RGDXGLR%OXHWRRWKඎ&'
03ඎ
3XOVH)XHQWH>G65&F@HQHOFRQWURO
GHOPDQGRDGLVWDQFLDGHOYRODQWH
SDUDVHOHFFLRQDUHOPRGRGHVHDGR
,QWURGXFFLäQ 

7HOÚIRQRPDQRVOLEUHV%OXHWRRWK

3XOVHHOERWäQ0(18781(SDUD 3XOVHHOERWäQ7(/º)212
DEULUHOPHQëFRQODVRSFLRQHVGHOD 6,/(1&,2SDUDDEULUHO%OXHWRRWKFRQ
3XOVHHOERWäQ7(/º)212
IXQFLäQRHOPHQëGHOGLVSRVLWLYRFRಢ RSFLRQHVSDUDODIXQFLäQFRUUHVSRQಢ
6,/(1&,2SDUDVHOHFFLRQDUODIXQಢ
UUHVSRQGLHQWH H[FHSWRSDUDHODXGLR GLHQWH
FLäQGHPDQRVOLEUHV%OXHWRRWK VäOR
%OXHWRRWK 
SDUDORVPRGHORVGHWLSR$ 
3HUVRQDOL]DFLäQ
%RWRQHVSULQFLSDOHVFRQWURO
/RVERWRQHV\HOPDQGRXVDGRVHQOD
FRQILJXUDFLäQGHOVLVWHPDVRQORVVLಢ
JXLHQWHV
 %RWäQ&21),*
3XOVHHVWHERWäQSDUDHQWUDUHQHO
PHQëGH&RQILJXUDFLäQGHOVLVWHPD
 ,QWURGXFFLäQ

 %RWäQ0(18781(FRQFRQWURO >(MHPSOR@&RQILJXUDFLäQGHOVLVWHPD
࿢ *LUHHOPDQGRSDUDGHVSOD]DUVHDO ඎ&RQILJXUDFLäQGHKRUD\IHFKDඎ
PHQëXRSFLäQGHFRQILJXUDFLäQ &RQILJXUDUIHFKDGHHQHURGH
࿢ 3XOVHHOERWäQSDUDVHOHFFLRQDUR
HQWUDUHQODSDQWDOODGHFRQWUROGHಢ
WDOODGDSURSRUFLRQDGDSRUHOPHQë
DFWXDORODRSFLäQGHFRQILJXUDFLäQ
 %RWäQ3%$&.
&DQFHODODRSFLäQVHOHFFLRQDGD\
YXHOYHDOPHQëSDQWDOODDQWHULRU

&äPRXVDUHOPHQëGH 8QDYH]TXHKD\DFRQVXOWDGRODWDEOD
FRQILJXUDFLäQSDUDOD GHLQIRUPDFLäQVREUHHOPHQëGHFRQಢ
SHUVRQDOL]DFLäQ ILJXUDFLäQHQODSÒJLQDVLJXLHQWHJLUH
࿢ /RVPHQëV\IXQFLRQHVGHFRQILJXಢ HOFRQWURO0(18781(SDUDGHVSODಢ
UDFLäQSXHGHQYDULDUGHSHQGLHQGR 3XOVHHOERWäQ&21),*SDUDDFFHGHU ]DUVHDOPHQëGHFRQILJXUDFLäQGHಢ
GHOPRGHORGHYHKÞFXOR DOPHQëGH&RQILJXUDFLäQGHOVLVಢ VHDGR\SXOVHHOERWäQ0(18
WHPD 781(
࿢ 5HIHUHQFLD7DEODGHLQIRUPDFLäQ
SDUDPHQëGHFRQILJXUDFLäQHQOD ࿢ ,QGLFDODOLVWDGHWDOODGDSDUDHO
SÒJLQDVLJXLHQWH PHQëGHFRQILJXUDFLäQRHVWDGRGH
IXQFLRQDPLHQWRUHOHYDQWHV
࿢ 6LKD\RWUDOLVWDGHWDOODGDDGHPÒV
GHODOLVWDGHWDOODGDUHOHYDQWH
SXHGHUHSHWLUHOSURFHVR
,QWURGXFFLäQ 

࿢ 6LODOLVWDGHWDOODGDUHOHYDQWHLQಢ >&RQILJXUDFLäQGHKRUD\IHFKD@
FOX\HYDULDVRSFLRQHVUHSLWDHVWH
SURFHVR
࿢ $MXVWHRLQWURGX]FDHOYDORUGHFRQಢ
ILJXUDFLäQUHOHYDQWHRHOHVWDGRGH
IXQFLRQDPLHQWRFDPELDUÒ
7DEODGHLQIRUPDFLäQGHOD
FRQILJXUDFLäQGHOVLVWHPD
>,GLRPDV@

*LUHHOFRQWURO0(18781(SDUDDOಢ
FDQ]DUHOYDORUGHFRQILJXUDFLäQRHVಢ
WDGRGHIXQFLRQDPLHQWRGHVHDGRV\ $MXVWHGHODKRUD&RQILJXUHPDQXDOಢ
SXOVHHOERWäQ0(18781( PHQWHODVKRUDV\PLQXWRVGHODKRUD
DFWXDO
࿢ &RQILJXUDUIHFKD&RQILJXUHPDಢ
QXDOPHQWHHODâRPHVIHFKDDFWXDಢ
OHV
࿢ &RQILJXUDUIRUPDWRGHKRUD6HOHFಢ
FLRQHHOIRUPDWRGHKRK
6HOHFFLRQHHOLGLRPDGHVHDGR ࿢ &RQILJXUDUIRUPDWRGHIHFKD&RQಢ
ILJXUHHOIRUPDWRGHIHFKD
$$$$00''GHHQHURGH

''00$$$$GHHQHURGH

 ,QWURGXFFLäQ

00''$$$$GHHQHURGH 9ROXPHQDXWRPÒWLFR6HOHFFLRQH ࿢ $FWLYDFLäQ6HOHFFLRQHDFWLYDFLäQR


 'HVDFWLYDGR%DMR0HGLR$OWR GHVDFWLYDFLäQ
࿢ $MXVWHDXWRPÒWLFRGHODKRUD6Hಢ ࿢ 9ROXPHQLQLFLDOPÒ[LPR ࿢ /LVWDGHGLVSRVLWLYRV6HOHFFLRQHHO
OHFFLRQDUDFWLYDFLäQRGHVDFWLYDಢ &RQILJXUHPDQXDOPHQWHHOOÞPLWH GLVSRVLWLYRGHVHDGR\VHOHFFLRQH
FLäQ PÒ[LPRSDUDHOYROXPHQLQLFLDO FRQHFWHVHSDUHRHOLPÞQHOR
>$MXVWHVGHODUDGLR@ ࿢ )DYRULWRVGHUDGLR ࿢ $VRFLDUGLVSRVLWLYR,QWHQWDDVRFLDU
XQGLVSRVLWLYR%OXHWRRWKQXHYR
&RQILJXUHPDQXDOPHQWHORVQëPHಢ
URVGHODSÒJLQD)DYRULWRV ࿢ &DPELDUHOFäGLJR%OXHWRRWK&DPಢ
ELDFRQILJXUDPDQXDOPHQWHHOFäಢ
࿢ (PLVRUDV$66HOHFFLRQHODIXQFLäQ GLJR%OXHWRRWK
GHPHPRUL]DFLäQDXWRPÒWLFDGH
HPLVRUDVSDUDFDGDUDGLR 9ROYHUDDMXVWHVGHIÒEULFD5HVWDXUD
ORVYDORUHVGHFRQILJXUDFLäQLQLFLDOHV
>&RQILJXUDFLäQ%OXHWRRWK@ DORVDMXVWHVSUHGHWHUPLQDGRV

%OXHWRRWK(QWUHHQHOPHQë%OXHಢ
WRRWK
5DGLR 

 %RWäQ)$925,72>)$9@
5DGLR 5DGLR$0)0
3XOVHHVWHERWäQSDUDGHVSOD]DUVH
$QWHVGHXVDUODUDGLR$0)0 SRUODVSÒJLQDVGHODVHPLVRUDVGH
UDGLRIDYRULWDVJXDUGDGDV
5DGLR$0)0   %RWRQHVSULQFLSDOHVFRQWURO
 %RWRQHVGH35(6,1721¾$>a@
5'6 5DGLR'DWD6\VWHP    %RWäQ5$',2%$1'
࿢ 0DQWHQJDSXOVDGRFXDOTXLHUDGH
$QWHQDGHPÒVWLOILMR   &DPELDUHQWUHODIUHFXHQFLDGHUDGLR HVWRVERWRQHVGH35(6,1721¾$
)0R$0 SDUDUHJLVWUDUODHPLVRUDGHUDGLR
 %RWäQ0(18781(FRQFRQWURO DFWXDOHQHVHERWäQ
࿢ *LUHHVWHERWäQFRQWUROSDUDHQFRQಢ ࿢ 3XOVHHVWHERWäQSDUDVHOHFFLRQDU
WUDUPDQXDOPHQWHXQDIUHFXHQFLD ODHPLVRUDUHJLVWUDGDHQHOERWäQGH
GHHPLVLäQ 35(6,1721¾$
࿢ 3XOVHHVWHERWäQFRQWUROSDUDDFಢ  %RWäQ,1)250$&,Ä1>,1)2@
FHGHUDODSDQWDOODGHPHQëGHVGH 9HDODLQIRUPDFLäQGHODVHPLVRUDV
HOPRGRDFWXDO GHUDGLR
 %RWäQ3%$&.
&DQFHODODRSFLäQVHOHFFLRQDGD\
YXHOYHDOPHQëSDQWDOODDQWHULRU
 %RWRQHVG6((.F
࿢ 3XOVHHVWHERWäQSDUDEXVFDUDXWRಢ
PÒWLFDPHQWHODVHPLVRUDVGHUDGLR
GLVSRQLEOHV
࿢ 0DQWHQJDSXOVDGRHVWHERWäQSDUD
FDPELDUODIUHFXHQFLDGHUDGLR
FRPRGHVHH\GHMHTXHHOERWäQVH
GHWHQJDHQODIUHFXHQFLDDFWXDO
 5DGLR

(VFXFKDUXQDHPLVRUD %ëVTXHGDDXWRPÒWLFDGHHPLVRUDV %ëVTXHGD

%XVFDUHPLVRUDVGHUDGLR

3XOVHORVERWRQHVG6((.FSDUD 0DQWHQJDSXOVDGRVORVERWRQHV
EXVFDUDXWRPÒWLFDPHQWHHPLVRUDV G6((.FSDUDFDPELDUUÒSLGDPHQWH
3XOVHUHSHWLGDPHQWHHOERWäQ5$',2 GLVSRQLEOHVFRQXQDEXHQDUHFHSಢ ODIUHFXHQFLD\VXHOWHHOERWäQ
%$1'SDUDFDPELDUHQWUHODIUHFXHQಢ FLäQ FXDQGRKD\DDOFDQ]DGRODIUHFXHQFLD
FLD)0R$0 GHVHDGD
6HUHFLELUÒODëOWLPDHPLVRUDHOHJLGD
5DGLR 

%XVFDUHPLVRUDVPDQXDOPHQWH 8VDQGRORVERWRQHVGH ࿢ 3XHGHQJXDUGDUVHKDVWDSÒJLQDV


35(6,1721¾$ GHIDYRULWRV\FDGDSÒJLQDSXHGH
JXDUGDUKDVWDHPLVRUDVGHUDGLR
5HJLVWUDHOERWäQGH35(6,1721¾$ ࿢ 6HSXHGHFRQILJXUDUHOQëPHURGH
SÒJLQDVGHIDYRULWRVTXHVHXVDQ
HQ&RQILJXUDFLäQGHOVLVWHPDඎ
$MXVWHVGHODUDGLRඎ)DYRULWRVGH
UDGLR QëPHURPÒ[GHSÒJLQDVIDಢ
YRULWDV 
࿢ 6LVHUHJLVWUDXQDQXHYDHPLVRUD
GHUDGLRHQXQERWäQGH35(6,1ಢ
721¾$>a@UHJLVWUDGRSUHYLDಢ
PHQWHHOFRQWHQLGRSUHYLRGHO
PLVPRVHERUUDUÒ\VHVXVWLWXLUÒSRU
*LUHHOFRQWURO0(18781(SDUDHQಢ ODHPLVRUDGHUDGLRQXHYDJXDUಢ
FRQWUDUPDQXDOPHQWHODIUHFXHQFLD GDGD
GHVHDGD
3XOVHHOERWäQ)$925,72
>)$9@SDUDVHOHFFLRQDUODSÒಢ
JLQDGHVHDGDGHORVIDYRULWRVJXDUಢ
GDGRV
0DQWHQJDSXOVDGRFXDOTXLHUDGHORV
ERWRQHVGH35(6,1721¾$>a@
SDUDUHJLVWUDUODHPLVRUDGHUDGLRDFಢ
WXDOHQGLFKRERWäQGHODSÒJLQDGH
IDYRULWRVVHOHFFLRQDGD
 5DGLR

(VFXFKDUGLUHFWDPHQWHPHGLDQWHHO 8VRGHOPHQëGHODUDGLR 0HQë$0)0ඎ/LVWDGHIDYRULWRV


ERWäQGH35(6,1721¾$

3XOVHHOERWäQ0(18781(SDUD (QODRSFLäQGHPHQë)0$0JLUH
3XOVHUHSHWLGDPHQWHHOERWäQGH PRVWUDUHOPHQëGHODUDGLR HOPDQGR0(18781(SDUDGHVSODಢ
)$925,726>)$9@SDUDVHOHFಢ ]DUVHDODOLVWDGHIDYRULWRV\OXHJR
*LUHHOFRQWURO0(18781(SDUD
FLRQDUODSÒJLQDGHSUHVLQWRQÞDVIDಢ SXOVHHOERWäQ0(18781(
GHVSOD]DUVHDODRSFLäQGHOPHQëGHಢ
YRULWDV )$9 TXHGHVHH 6HPRVWUDUÒODLQIRUPDFLäQGHODOLVWD
VHDGD\SXOVHHOERWäQ0(18781(
$SDUHFHUÒODLQIRUPDFLäQGHODHPLಢ SDUDVHOHFFLRQDUODRSFLäQUHOHYDQWH GHIDYRULWRV
VRUDJXDUGDGDHQHOQëPHURGHOD RSDUDPRVWUDUHOPHQëGHWDOODGR *LUHHOPDQGR0(18781(SDUD
SÒJLQDGHSUHVLQWRQÞDVIDYRULWDV GHVSOD]DUVHDODOLVWDGHIDYRULWRVGHಢ
)$9 VHOHFFLRQDGD VHDGD\OXHJRSXOVHHOERWäQ0(18
3XOVHORVERWRQHVGH35(6,1721¾$ 781(SDUDUHFLELUHOFDQDOGHHPLVLäQ
>a@SDUDHVFXFKDUGLUHFWDPHQWHOD FRUUHVSRQGLHQWH
HPLVRUDJXDUGDGDHQHVHERWäQ
5DGLR 

0HQë$0)0ඎ/LVWDGHHPLVRUDV 0HQë$0)0ඎ/LVWDGHFDWHJRUÞDV 0HQë$0)0ඎ$FWXDOL]DUODOLVWDGH


)0$0 GH)0 HPLVRUDV)0$0

(QHOPHQë)0$0JLUHHOFRQWURO (QHOPHQë)0JLUHHOPDQGR0(18 (QHOPHQë)0$0JLUHHOFRQWURO


0(18781(SDUDGHVSOD]DUVHDOD 781(SDUDGHVSOD]DUVHDODOLVWDGH 0(18781(\GHVSOÒFHVHD$FWXDಢ
OLVWDGHHPLVRUDV)0$0\SXOVHD FDWHJRUÞDVGH)0\OXHJRSXOVHHOERಢ OL]DUODOLVWDGHHPLVRUDV)0$0\
FRQWLQXDFLäQHOERWäQ0(18781( WäQ0(18781( SXOVHDFRQWLQXDFLäQHOERWäQ0(18
6HPRVWUDUÒODLQIRUPDFLäQGHODOLVWD 6HPRVWUDUÒODOLVWDGHFDWHJRUÞDVGH 781(
GHHPLVRUDV )0 ࿢ 6HSURGXFHODDFWXDOL]DFLäQGHOD
*LUHHOFRQWURO0(18781(SDUD *LUHHOFRQWURO0(18781(SDUD OLVWDGHHPLVRUDV)0$0
GHVSOD]DUVHDODOLVWDGHVHDGD\ GHVSOD]DUVHDODOLVWDGHVHDGD\ ࿢ 'XUDQWHODDFWXDOL]DFLäQGHODOLVWD
SXOVHDFRQWLQXDFLäQHOERWäQ0(18 SXOVHDFRQWLQXDFLäQHOERWäQ0(18 GHHPLVRUDV)0$0SXOVHHOERWäQ
781(SDUDUHFLELUHOFDQDOGHHPLVLäQ 781(SDUDUHFLELUODIUHFXHQFLDGH 0(18781(RHOERWäQ3%$&.
FRUUHVSRQGLHQWH HPLVLäQFRUUHVSRQGLHQWH DQWHULRUSDUDTXHQRVHJXDUGHQORV
FDPELRV
 5DGLR

5'6 5DGLR'DWD6\VWHP 9HULQIRUPDFLäQGHHPLVLäQGH $WHQFLäQ


5%'6
5%'6 5DGLR%URDGFDVW'DWD 3XOVHHOERWäQGH,1)250$&,Ä1 $VHJëUHVHGHGHVPRQWDUODDQಢ
6\VWHP >,1)2@PLHQWUDVUHFLEHODHPLVLäQGH WHQDDQWHVGHHQWUDUHQDOJëQOXಢ
࿢ 5%'6HVXQVHUYLFLRGHODVHPLVRಢ 5%'6SDUDFRPSUREDUODLQIRUPDFLäQ JDUFRQWHFKREDMRSDUDHYLWDUGDಢ
UDVGH)0TXHIDFLOLWDFRQVLGHUDಢ GHHPLVLäQGH5%'6TXHVHUHFLEH âRV
EOHPHQWHHQFRQWUDUODVHPLVRUDV 6LXWLOL]DWëQHOHVGHODYDGRDXWRಢ
GHUDGLRGHVHDGDV\VXUHFHSFLäQ $QWHQDGHPÒVWLOILMR PÒWLFRFRQODDQWHQDPRQWDGDVH
VLQSUREOHPDV SXHGHQSURGXFLUGDâRVHQODDQಢ
WHQDRHQHOSDQHOGHOWHFKR$VHಢ
JëUHVHGHGHVPRQWDUODDQWHQD
DQWHVGHHQWUDUHQHOWëQHOGHODಢ
YDGRDXWRPÒWLFR

$SULHWHELHQODDQWHQD\SäQJDODUHFWD
SDUDJDUDQWL]DUXQDEXHQDUHFHSFLäQ

࿢ /DVHPLVRUDV5%'6VHUHFRQRFHQ 3DUDGHVPRQWDUODDQWHQDGHOWHFKR
SRUHOQRPEUHGHOSURJUDPDFRQOD JÞUHODKDFLDODL]TXLHUGD3DUDPRQWDU
IUHFXHQFLDGHWUDQVPLVLäQ ODDQWHQDGHOWHFKRJÞUHODKDFLDOD
GHUHFKD
5HSURGXFWRUHVGHDXGLR 

࿢ 8QGLVFR&'GHDXGLRFRQXQDIXQಢ
5HSURGXFWRUHVGH 5HSURGXFWRUGH&'
FLäQDQWLSLUDWHUÞDQRFRPSDWLEOHFRQ
DXGLR (OUHSURGXFWRUGH&'03GHHVWH
VLVWHPDSXHGHUHSURGXFLUGLVFRV&'
HO&'GHDXGLRHVWÒQGDUSXHGHQR
IXQFLRQDURQRKDFHUORFRUUHFWDಢ
\GH03 :0$ GHDXGLR PHQWH
5HSURGXFWRUGH&'   $QWHVGHXVDUHOUHSURGXFWRUGH ࿢ /RVGLVFRV&'5\&'5:JUDEDಢ
GRVPDQXDOPHQWHVHVXHOHQWUDWDU
'LVSRVLWLYRVDX[LOLDUHV   &'
FRQPHQRVFXLGDGRTXHORVGLVFRV
,QIRUPDFLäQLPSRUWDQWHVREUHGLVFRV &'RULJLQDOHV/RVGLVFRV&'5\
&'\GH03 :0$ GHDXGLR &'5:JUDEDGRVPDQXDOPHQWH
GHEHQWUDWDUVHFRQXQFXLGDGRHVಢ
$WHQFLäQ SHFLDO7HQJDHQFXHQWDORVLಢ
JXLHQWH
1XQFDVHGHEHQLQVHUWDUGLVFRV ࿢ 3XHGHTXHORVGLVFRV&'5\&'
'9'&'VHQFLOORVFRQXQGLÒPHಢ 5:JUDEDGRVPDQXDOPHQWHQRVH
WURGHFPQL&'FRQIRUPDVLUUHಢ UHSURGX]FDQFRUUHFWDPHQWHRQRVH
JXODUHVHQHOUHSURGXFWRUGHDXಢ SXHGDQUHSURGXFLU(QHVWRVFDVRV
GLR QRVHWUDWDGHXQSUREOHPDFRQHO
1RFRORTXHQLQJXQDSHJDWLQDHQ GLVSRVLWLYR
ORV&''LFKRVGLVFRVVHSXHGHQ ࿢ &XDQGRFDPELHORVGLVFRVWHQJD
DWDVFDUHQODXQLGDGGH&'\HVಢ FXLGDGRGHQRGHMDUKXHOODVGDFWLಢ
WURSHDUODXQLGDG(QWDOFDVRVHUÒ ODUHVHQODFDUDGHUHSURGXFFLäQGHO
QHFHVDULDXQDFDUDVXVWLWXFLäQGHO GLVFR
GLVSRVLWLYR ࿢ &XDQGRKD\DH[WUDÞGRHOGLVFRGHO
UHSURGXFWRUGH&'03DVHJëಢ
UHVHGHFRORFDUORLQPHGLDWDPHQWH
HQXQDIXQGDSDUDHYLWDUTXHVH
GDâHRVHOOHQHGHSROYR
 5HSURGXFWRUHVGHDXGLR

࿢ 6LHOGLVFRSUHVHQWDSROYRROÞTXLGR 3UHFDXFLRQHVSDUDHOXVRGHOGLVFR JHQHUDGHQWURGHOGLVSRVLWLYR6L


SRGUÞDFDXVDUSUREOHPDVDOFRQWDಢ ࿢ 1RXVHQLQJXQRGHORVGLVFRVTXH SXHGHTXHDVÞIXHUDPDQWHQJDHO
PLQDUODOHQWHGHOUHSURGXFWRUGH VHGHVFULEHQDFRQWLQXDFLäQ(OXVR DSDUDWRDSDJDGRGXUDQWHDOUHGHಢ
&'03GHOLQWHULRUGHOGLVSRVLWLYR H[FHVLYRGHHVWRVGLVFRVHQHOUHಢ GRUGHXQDKRUDDQWHVGHXVDUOR
࿢ 3URWHMDHOGLVFRGHOFDORU\ODH[SRಢ SURGXFWRUSXHGHFDXVDUSUREOHಢ ࿢ 3XHGHTXHODUHSURGXFFLäQVHGHಢ
VLFLäQDODOX]GLUHFWD PDV WHQJDVLHOYHKÞFXORWLHPEODFXDQGR
ဈ 'LVFRVFRQSHJDWLQDVHWLTXHWDV VHFRQGXFHSRUFDUUHWHUDVHVFDUಢ
7LSRGHGLVFRFRPSDWLEOH RVXMHWDGRVSRUXQDFLQWDSURWHFಢ SDGDV
࿢ (VWHDSDUDWRSXHGHUHSURGXFLUGLVಢ WRUD ࿢ 1RLQWHQWHH[WUDHURLQWURGXFLUHO
FRV&'\GH03 :0$ GHDXGLR GLVFRDODIXHU]DQLEORTXHDUORFRQ
ဈ 'LVFRVFRQXQDHWLTXHWDLPSUHVD
ဈ &''$&'5&'5: FRQXQDLPSUHVRUDGHWLQWD ODPDQRFXDQGRVHH[SXOVD
ဈ 03 :0$ &'5&'5:&' ဈ 'LVFRVVREUHJUDEDGRVHVGHFLU ࿢ ,QWURGX]FDHOGLVFRFRQHOODGRLPಢ
520 TXHDOPDFHQDQPÒVGDWRVTXH SUHVRKDFLDDUULED(OGLVFRQR
࿢ /RVVLJXLHQWHVDUFKLYRV03 VXFDSDFLGDGHVWÒQGDU SXHGHUHSURGXFLUVHVLVHLQWURGXFH
:0$ QRSXHGHQUHSURGXFLUVH ဈ /RVGLVFRVFRQJULHWDVDUDâD]RV DOUHYÚV
ဈ $UFKLYRFRGLILFDGRFRQIRUPHDO RTXHHVWÚQGREODGRVQRVHUHಢ ࿢ 1RWRTXHODFDUDGHJUDEDFLäQFRQ
HVWÒQGDU03L 03LQWHUDFWLYR SURGXFLUÒQFRUUHFWDPHQWH ODPDQRFXDQGRVXMHWHHOGLVFR OD
R03352 ဈ 8QGLVFRGHFPRXQGLVFRQR FDUDVLQLPSUHVLäQRGHFRUDFLäQ 
ဈ $UFKLYR03 :0$ FRGLILFDGR FLUFXODU FXDGUDQJXODUSHQWDJRಢ ࿢ &RORTXHORVGLVFRVTXHQRYD\DD
VLQFRQIRUPLGDGFRQHVWÒQGDUHV QDORYDO XVDUHQIXQGDV\JXÒUGHORVHQXQ
࿢ 1RFRORTXHRWURVREMHWRVHQODUDಢ OXJDUTXHQRHVWÚH[SXHVWRDODOX]
ဈ $UFKLYRV03TXHQRHVWÒQHQ
QXUDGHOGLVFR\DTXHSRGUÞDFDXಢ GLUHFWDRDOWDVWHPSHUDWXUDV
IRUPDWR03(*FDSDGHDXGLR
VDUSUREOHPDVRGDâRV ࿢ 1RDSOLTXHQLQJXQDVXVWDQFLDTXÞಢ
࿢ 3XHGHTXHHOUHSURGXFWRUGHGLVFRV PLFDVREUHHOGLVFR/LPSLHODVXಢ
QRIXQFLRQHFRUUHFWDPHQWHVLODFDಢ FLHGDGGHORVGLVFRVFRQXQSDâR
OHIDFFLäQHVWÒHQFHQGLGRRVLKDFH KëPHGR\VXDYHGHVGHHOFHQWUR
IUÞRGHELGRDODKXPHGDGTXHVH KDVWDHOERUGH
5HSURGXFWRUHVGHDXGLR 

3UHFDXFLäQSDUDHOXVRGHOGLVFR ࿢ $OJXQRVGLVFRVDQWLSLUDWHUÞDSXHಢ ဈ ,621LYHO0Ò[LPRGH


&'55: GHQQRUHSURGXFLUVH FDUDFWHUHV
࿢ &XDQGRXVHGLVFRV&'5&'5: ࿢ 8QGLVFRGH03 :0$ SXHGH ဈ ,621LYHO0Ò[LPRGH
VäORVHSRGUÒQXVDUORVGLVFRVTXH FRQWHQHUXQPÒ[LPRGHDUFKLಢ FDUDFWHUHV
HVWÚQFRPSOHWDGRV YRVHQFDGDXQRGHORVQLYHOHV ဈ -ROLHW0Ò[LPRGHFDUDFWHUHV
࿢ /RVGLVFRVTXHVHFUHDQFRQXQ3& GHFDUSHWDV\VHSXHGHUHSURGXFLU E\WH
SXHGHQQRUHSURGXFLUVHFRQIRUPH XQQëPHURPÒ[LPRGHDUFKLಢ
YRV ဈ 1RPEUHODUJRGH:LQGRZV0Òಢ
DODFRQILJXUDFLäQ\HQWRUQRGHOSURಢ
[LPRGHFDUDFWHUHV E\WH
JUDPDGHODDSOLFDFLäQ ࿢ (VWHVLVWHPDVäORSXHGHUHFRQRFHU
࿢ /RVGLVFRV&'5&'5:VREUH GLVFRV03 :0$ FUHDGRVHQQLಢ 3UHFDXFLäQSDUDHOXVRGHDUFKLYRV
WRGRORVGLVFRVEDUDWRVSXHGHQQR YHO,62RHQHOVLVWHPDGH GHPëVLFD03:0$
IXQFLRQDUVLVHYHQGLUHFWDPHQWH DUFKLYRVMROLHW 1RHVFRPSDWLEOH ࿢ (VWHDSDUDWRSXHGHUHSURGXFLUDUಢ
H[SXHVWRVDODOX]GLUHFWDRDOWDV FRQHOVLVWHPDGHDUFKLYRV8') FKLYRV03 :0$ FRQODVH[WHQಢ
WHPSHUDWXUDVRVLVHGHMDQGHQWUR ࿢ /RVDUFKLYRV03:0$QRVRQ VLRQHVGHDUFKLYRPSZPD HQ
GHOYHKÞFXORGXUDQWHXQSHULRGR FRPSDWLEOHVFRQODWUDQVPLVLäQGH PLQëVFXOD R03R:0$ HQPDಢ
SURORQJDGR GDWRVSRUHVFULWXUDSRUSDTXHWHV \ëVFXOD 
࿢ 3XHGHTXHQRVHPXHVWUHHOWÞWXOR\ ࿢ (OGLVFRHQHOTXHVHJUDEDQORVDUಢ ࿢ /RVDUFKLYRV03TXHSXHGHQUHಢ
RWUDLQIRUPDFLäQGHWH[WRJUDEDGD FKLYRV03:0$\DXGLR &''$ SURGXFLUVHFRQHVWHSURGXFWRVRQ
HQORVGLVFRV&'5&'5:HQHVWH SXHGHQRUHSURGXFLUVHVLVHWUDWD ORVVLJXLHQWHV
GLVSRVLWLYR GHXQ&'H[WUDRXQ&'GHPRGR ဈ 7DVDGHWUDQVIHUHQFLDNESVa
࿢ /RVGLVFRV&'5:SXHGHQWDUGDU PL[WR NESV
PÒVHQFDUJDUVHTXHORVGLVFRV&' ࿢ /RVQRPEUHVGHDUFKLYRFDUSHWD ဈ )UHFXHQFLDGHPXHVWUHRN+]
R&'5 TXHSXHGHQXVDUVHVHJëQHOWLSRGH N+]N+] SDUD03(* 
࿢ /RVDUFKLYRVGHPëVLFDGDâDGRV GLVFRGHDOPDFHQDPLHQWRLQFOXLಢ N+]N+]N+] SDUD
SXHGHTXHQRVHUHSURGX]FDQR GDVODVH[WHQVLRQHVGHDUFKLYRGH 03(*
SXHGHQVXIULUFRUWHVPLHQWUDVVHUHಢ FXDWURGÞJLWRV PS VRQORVVLಢ
SURGXFHQ JXLHQWHV
 5HSURGXFWRUHVGHDXGLR

࿢ $XQTXHHVWHDSDUDWRSXHGHUHSURಢ 2UGHQGHUHSURGXFFLäQGHDUFKLYRV 5HSURGXFFLäQGH&'03


GXFLUDUFKLYRVFRQXQDWDVDGHYHಢ GHPëVLFD
ORFLGDGGHNESVDNESVORV %RWRQHVSULQFLSDOHV&RQWURO
DUFKLYRVFRQXQDWDVDGHYHORFLGDG  %RWäQ&'$8;
VXSHULRUDNESVWHQGUÒQXQVRಢ 6HOHFFLRQHHOUHSURGXFWRUGH&'
QLGRGHPHMRUFDOLGDG 03
࿢ (VWHDSDUDWRSXHGHPRVWUDULQIRUಢ  %RWäQ0(18781(FRQFRQWURO
PDFLäQGHODVHWLTXHWDV,' 9HUಢ
VLäQR SDUD ࿢ *LUHHOERWäQFRQWUROSDUDGHVSODಢ
DUFKLYRV03FRPRHOQRPEUHGHO ]DUVHDODVRSFLRQHVGHOLVWDGHSLVಢ
ÒOEXP\HODUWLVWD WDVPHQëRLQIRUPDFLäQGHSLVWDV
03 :0$ 
࿢ 3DUDPRVWUDUODLQIRUPDFLäQGHOÒOಢ
EXP WÞWXORGHOGLVFR SLVWD WÞWXOR ࿢ 3XOVHHOERWäQFRQWUROSDUDPRVWUDU
GHODSLVWD \DUWLVWD DUWLVWDGHOD ODSDQWDOODGHPHQëGHODRSFLäQR
SLVWD HODUFKLYRGHEHVHUFRPSDಢ PRGRDFWXDO
WLEOHFRQORVIRUPDWRV9\9GH  %RWRQHVG6((.F
HWLTXHWDV,' ࿢ 3XOVHHVWRVERWRQHVSDUDUHSURGXಢ
࿢ (VWHDSDUDWRSXHGHUHSURGXFLUDUಢ FLUODSLVWDDQWHULRURVLJXLHQWH
FKLYRV03PHGLDQWH9%5 ࿢ 0DQWHQJDSXOVDGRVHVWRVERWRQHV
&XDQGRVHUHSURGXFHXQDUFKLYR SDUDUHWURFHGHURDYDQ]DUUÒSLGDಢ
03GHHVWHWLSR9%5HOWLHPSRGH PHQWHSRUODSLVWD\VXHOWHHOERWäQ
UHSURGXFFLäQUHVWDQWHTXHVH SDUDFRQWLQXDUFRQODUHSURGXFFLäQ
PXHVWUDSXHGHGLIHULUGHOWLHPSR DYHORFLGDGQRUPDO
UHDO
 %RWäQ(;38/6$5
([SXOVDHOGLVFR
5HSURGXFWRUHVGHDXGLR 

 %RWäQ,1)250$&,Ä1>,1)2@
0XHVWUDODLQIRUPDFLäQGHODSLVWDTXH
VHHVWÒUHSURGXFLHQGR
,QVHUWDU\UHSURGXFLUHOGLVFR

࿢ 8QDYH]TXHVHKDILQDOL]DGRODOHFಢ &XDQGRKD\DLQVHUWDGRHOGLVFRTXH
WXUDGHODLQIRUPDFLäQGHOGLVFR GHVHDUHSURGXFLUSXOVHUHSHWLGDಢ
ÚVWHVHUHSURGXFHDXWRPÒWLFDಢ PHQWHHOERWäQ&'$8;SDUDVHOHFಢ
PHQWHGHVGHODSLVWD FLRQDUODUHSURGXFFLäQGH&'03
࿢ &XDQGRVHLQWURGXFHXQGLVFRTXH ࿢ 6LQRVHKDLQVHUWDGRQLQJëQGLVFR
,QVHUWHHOGLVFRTXHVHYDDUHSURGXFLU QRVHSXHGHOHHUHOGLVFRVHH[ಢ DSDUHFHHOPHQVDMH1RKD\GLVFR\
FRQODVXSHUILFLHLPSUHVDKDFLDDUULED SXOVDDXWRPÒWLFDPHQWH\HQODSDQಢ ODIXQFLäQQRVHVHOHFFLRQDUÒ
HQODUDQXUDGHLQVHUFLäQGHOGLVFR WDOODDSDUHFHXQPHQVDMHGHHUURU ࿢ 6HUHSURGXFHDXWRPÒWLFDPHQWHOD
GHGLVFRDFRQWLQXDFLäQHOVLVWHPD SLVWDTXHVHUHSURGXMRODëOWLPD
FDPELDDODëOWLPDIXQFLäQTXHVH YH]
XVäRDODUDGLR)0
 5HSURGXFWRUHVGHDXGLR

([SXOVDUGLVFR &DPELDUODUHSURGXFFLäQGHODSLVWD

2JLUHHOPDQGR0(18781(SDUD
GHVSOD]DUVHKDVWDODOLVWDGHUHSURಢ
3DUDH[WUDHUHOGLVFRSXOVHHOERWäQ 3XOVHORVERWRQHVG6((.FHQHO GXFFLäQ\OXHJRSXOVHHOERWäQ
(;38/6$5 PRGRGHUHSURGXFFLäQSDUDUHSURGXಢ 0(18781(SDUDFDPELDUODLQVWDQಢ
࿢ &XDQGRHOGLVFRVDOHHODSDUDWR FLUODSLVWDDQWHULRURVLJXLHQWH WÒQHDPHQWH
YXHOYHDODëOWLPDIXQFLäQTXHVH 3XHGHXVDUHOPDQGRDGLVWDQFLDGHO
XVäRDODUDGLR)0 YRODQWHSDUDFDPELDUODVSLVWDVIÒFLOಢ
࿢ (OGLVFRYROYHUÒDLQVHUWDUVHGH PHQWHJLUDQGRHOPDQGRGHODIXHQWH
IRUPDDXWRPÒWLFDVLQRVHH[WUDH >G65&F@
GXUDQWHXQWLHPSR
5HSURGXFWRUHVGHDXGLR 

&DPELDUODSRVLFLäQGHUHSURGXFFLäQ 9LVXDOL]DULQIRUPDFLäQVREUHODSLVWD
UHSURGXFLGD

6LVHWUDWDGHSLVWDV03 :0$ 
SXHGHYLVXDOL]DUPÒVLQIRUPDFLäQJLಢ
0DQWHQJDSXOVDGRVORVERWRQHV UDQGRHOFRQWURO0(18781(GHOD
G6((.FGXUDQWHHOPRGRGHUHSURಢ 3XOVHHOERWäQGH,1)250$&,Ä1
SDQWDOODGHLQIRUPDFLäQGHODSLVWD
GXFFLäQSDUDUHWURFHGHURDYDQ]DUUÒಢ >,1)2@HQHOPRGRGHUHSURGXFFLäQ
SLGDPHQWHSRUODFDQFLäQ6XHOWHHO SDUDPRVWUDULQIRUPDFLäQVREUHOD ࿢ /DLQIRUPDFLäQPRVWUDGDLQFOX\HHO
ERWäQSDUDFRQWLQXDUFRQODUHSURGXFಢ SLVWDUHSURGXFLGD QRPEUHGHODUFKLYRHOQRPEUHGH
FLäQDYHORFLGDGQRUPDO ODFDUSHWD\ODLQIRUPDFLäQGHHWLಢ
6LQRKD\LQIRUPDFLäQVREUHODSLVWD
TXHWD,'JXDUGDGDVFRQODFDQಢ
(OYROXPHQVHUHGXFHOLJHUDPHQWH UHSURGXFLGDSDUDORV&'GHDXGLRHO
FLäQ
GXUDQWHHOUHWURFHVR\DYDQFHUÒSLGRV VLVWHPDPXHVWUD6LQLQIRUPDFLäQ
\VHPXHVWUDHOWLHPSRGHUHSURGXFಢ 6LVHKDDâDGLGRLQIRUPDFLäQGH
FLäQ HWLTXHWD,'LQFRUUHFWD SHMDUಢ
WLVWDWÞWXORGHFDQFLäQ DORVDUFKLಢ
YRV03 :0$ DQWHVGHTXHVH
JUDEHQHQHOGLVFRODLQIRUPDFLäQ
TXHVHPXHVWUHVHUÒODGHOVLVWHPD
GHLQIRHQWUHWHQLPLHQWR
 5HSURGXFWRUHVGHDXGLR

/DLQIRUPDFLäQGHHWLTXHWD,'LQಢ 3XOVHHOERWäQ0(18781(HQHO 0HQëGH&'ඎ/LVWDGHSLVWDV


FRUUHFWDQRSXHGHPRGLILFDUVHR PRGRGHUHSURGXFFLäQSDUDPRVWUDU
FRUUHJLUVHHQHOVLVWHPDGHLQIRHQಢ HOPHQëGH&'
WUHWHQLPLHQWR ODVHWLTXHWDV,'
VäORSXHGHQFRUUHJLUVHHQXQ3& 
࿢ /DLQIRUPDFLäQGHFDQFLRQHVH[ಢ
SUHVDGDFRQVÞPERORVHVSHFLDOHVR
HQLGLRPDVQRGLVSRQLEOHVSXHGH
PRVWUDUVHFRPRRQRPRVಢ
WUDUVH

8VRGHOPHQëGHO&'
&DPELDUHOPRGRGHUHSURGXFFLäQ
3DUDORVGLVFRV&'GHDXGLRJLUHHO
FRQWURO0(18781(HQHOPHQëGH
*LUHHOPDQGR0(18781(SDUDVHಢ &'SDUDGHVSOD]DUVHDODOLVWDGHSLVಢ
OHFFLRQDUODVIXQFLRQHVGHUHSURGXFಢ WDV\SXOVHDFRQWLQXDFLäQHOERWäQ
FLäQDOHDWRULDRUHSHWLFLäQ\SXOVHHO 0(18781(
ERWäQ0(18781(SDUDDFWLYDUR *LUHHOFRQWURO0(18781(SDUDHQಢ
GHVDFWLYDUODVIXQFLRQHVUHOHYDQWHV FRQWUDUODOLVWDGHSLVWDVTXHGHVHH\
SXOVHDFRQWLQXDFLäQHOERWäQ0(18
781(SDUDUHSURGXFLUODSLVWDVHOHFಢ
FLRQDGD
5HSURGXFWRUHVGHDXGLR 

0HQëGH&'ඎ%XVFDQGRFDUSHWDV 0HQëGH&'ඎ%XVFDU

*LUHHOFRQWURO0(18781(SDUDHQಢ
FRQWUDUODSLVWDGHVHDGD\SXOVHD
3DUDORVGLVFRV&'GH03 :0$  FRQWLQXDFLäQHOERWäQ0(18781( 3DUDORVGLVFRV&'GH03>:0$@
JLUHHOFRQWURO0(18781(HQHO SDUDUHSURGXFLUODGHVGHODFDUSHWD JLUHHOFRQWURO0(18781(HQHO
PHQëGH&'SDUDGHVSOD]DUVHDODV VHOHFFLRQDGD PHQëGH&'SDUDGHVSOD]DUVHD%XVಢ
FDUSHWDV\SXOVHDFRQWLQXDFLäQHOERಢ FDU\SXOVHDFRQWLQXDFLäQHOERWäQ
WäQ0(18781( 0(18781(
*LUHHOFRQWURO0(18781(SDUDDFಢ ࿢ 8QDYH]TXHHOVLVWHPDKDOHÞGROD
FHGHUDODFDUSHWDGHVHDGD\SXOVHD LQIRUPDFLäQGHOGLVFRVHPXHVWUD
FRQWLQXDFLäQHOERWäQ0(18781( ODSULPHUDFDQFLäQGHODOLVWDGHUHಢ
SURGXFFLäQ>L3@
࿢ 6LQRVHHQFXHQWUDQDUFKLYRVGH
PëVLFDHQODOLVWDGHUHSURGXFFLäQ
>L3@VHPXHVWUDODSULPHUDFDQFLäQ
GHFDGDDUWLVWD>L$@
 5HSURGXFWRUHVGHDXGLR

6LQHPEDUJRSXHGHTXHVHWDUGH *LUHHOFRQWURO0(18781(SDUDHQಢ
EDVWDQWHHQOHHUHOGLVFRGHSHQಢ FRQWUDUODSLVWDWÞWXORTXHGHVHH\
GLHQGRGHOQëPHURGHDUFKLYRVGH SXOVHDFRQWLQXDFLäQHOERWäQ0(18
PëVLFD 781(SDUDUHSURGXFLUODSLVWDVHOHFಢ
FLRQDGD

'LVSRVLWLYRVDX[LOLDUHV
5HSURGXFWRU86% VäORSDUDHO
PRGHORGHWLSR$
3UHFDXFLRQHVSDUDHOXVRGH
*LUHHOFRQWURO0(18781(SDUDDFಢ GLVSRVLWLYRV86%
FHGHUDODRSFLäQGHFODVLILFDFLäQGHಢ ࿢ 1RVHSXHGHJDUDQWL]DUHOIXQFLRಢ
WDOODGD\SXOVHDFRQWLQXDFLäQHOERಢ QDPLHQWRVLORVGLVSRVLWLYRVGHDOಢ
WäQ0(18781( PDFHQDPLHQWRPDVLYR86%+''
LQWHJUDGRR&)RWDUMHWDGHPHPRಢ
3XOVHGHQXHYRHOERWäQ0(18 ULD6'VHFRQHFWDQPHGLDQWHXQ
781(JLUHHOFRQWURO0(18781( DGDSWDGRU86%8VHXQGLVSRVLWLYR
SDUDVHOHFFLRQDUHOPRGRGHUHSURಢ GHDOPDFHQDPLHQWRGHOWLSRPHPRಢ
GXFFLäQGHVHDGRHQODRSFLäQGHEëVಢ ULDIODVK86%
TXHGDTXHVHPXHVWUD
࿢ 7HQJDFXLGDGRFXDQGRFRQHFWHR
6HPXHVWUDHOQëPHURGHFDQFLRQHV GHVFRQHFWHHO86%SDUDHYLWDUOD
FRUUHVSRQGLHQWHVSRUOLVWDGHUHSURಢ GHVFDUJDGHHOHFWULFLGDGHVWÒWLFD
GXFFLäQ>L3@$UWLVWD>L$@²OEXP>L/@7Þಢ
WXORGHODFDQFLäQ>L6@*ÚQHUR>L*@
5HSURGXFWRUHVGHDXGLR 

6LODFRQH[LäQ\GHVFRQH[LäQVHUHಢ VHFWRURE\WHVVHFWRU(OVLVಢ ࿢ 1RGHVFRQHFWHHOGLVSRVLWLYRGHDOಢ


SLWHYDULDVYHFHVHQXQEUHYHHVಢ WHPDGHDUFKLYRV17)6\RWURVVLVಢ PDFHQDPLHQWR86%PLHQWUDVVH
SDFLRGHWLHPSRSXHGHTXHH[SHಢ WHPDVQRSXHGHQUHFRQRFHUVH UHSURGXFH'HKDFHUORSRGUÞDFDXಢ
ULPHQWHSUREOHPDVDODKRUDGH ࿢ 6HJëQHOWLSR\FDSDFLGDGGHOGLVಢ VDUGDâRVDODSDUDWRRDOIXQFLRQDಢ
XVDUHOGLVSRVLWLYR SRVLWLYRGHDOPDFHQDPLHQWR86%\ PLHQWRGHOGLVSRVLWLYR86%
࿢ 3DUDGHVFRQHFWDUHOGLVSRVLWLYR HOWLSRGHDUFKLYRDOPDFHQDGR ࿢ 'HVFRQHFWHHOGLVSRVLWLYRGHDOPDಢ
86%XWLOLFH0HQë86%ඎ([WUDHU SXHGHTXHYDUÞHHOWLHPSRTXHVH FHQDPLHQWR86%FRQHFWDGR
86%XVDQGRHOERWäQ0(18 WDUGDHQUHFRQRFHUORVDUFKLYRV1R FXDQGRHOHQFHQGLGRGHOYHKÞFXOR
781(SDUDOOHYDUDFDERODH[WUDFಢ VHWUDWDGHXQSUREOHPDFRQHODSDಢ HVWÚGHVFRQHFWDGR6LHOHQFHQGLGR
FLäQGHOGLVSRVLWLYR86% UDWRSRUORTXHGHEHHVSHUDUDTXH HVWÒFRQHFWDGRPLHQWUDVHOGLVSRಢ
࿢ 6LHOWHUPLQDOGHFRQH[LäQGHOGLVಢ ORVDUFKLYRVVHSURFHVHQ VLWLYRGHDOPDFHQDPLHQWR86%
SRVLWLYR86%QRHVGHPHWDOQRVH ࿢ 3XHGHTXHQRVHUHFRQR]FDQORV WDPELÚQORHVWÒSXHGHTXHHQDOಢ
JDUDQWL]DVXIXQFLRQDPLHQWR DUFKLYRVHQDOJXQRVGLVSRVLWLYRVGH JXQRVFDVRVHOGLVSRVLWLYRVXIUDGDಢ
DOPDFHQDPLHQWR86%GHELGRD âRV\QRIXQFLRQHFRQQRUPDOLGDG
࿢ /DFRQH[LäQFRQGLVSRVLWLYRVGHDOಢ
PDFHQDPLHQWR86%GHOWLSRL6WLFN SUREOHPDVGHFRPSDWLELOLGDG$GHಢ
SXHGHQSUHVHQWDUHUURUHVGHELGRD PÒVODVFRQH[LRQHVFRQXQOHFWRU $WHQFLäQ
ODYLEUDFLäQGHOYHKÞFXORSRUORTXH GHPHPRULDRFRQFHQWUDGRU86%
QRVRQFRPSDWLEOHV&RPSUXHEHHO /RVGLVSRVLWLYRVGHDOPDFHQDಢ
QRVHSXHGHJDUDQWL]DUVXIXQFLRಢ
IXQFLRQDPLHQWRGHOGLVSRVLWLYRHQHO PLHQWR86%VäORVHSXHGHQFRಢ
QDPLHQWR
YHKÞFXORDQWHVGHXVDUOR QHFWDUDHVWHDSDUDWRSDUDUHSURಢ
࿢ 7HQJDFXLGDGRGHQRWRFDUHOWHUಢ GXFLUDUFKLYRVGHPëVLFD
PLQDOGHFRQH[LäQ86%FRQXQREಢ ࿢ 3XHGHTXHGLVSRVLWLYRVFRPRXQ
UHSURGXFWRUGH03WHOÚIRQRPäYLO (OWHUPLQDO86%GHODSDUDWRQR
MHWRRFXDOTXLHUSDUWHGHVXFXHUSR
RFÒPDUDGLJLWDOQRIXQFLRQHQFRQ GHEHXVDUVHSDUDFDUJDUDFFHVRಢ
࿢ (OGLVSRVLWLYRGHDOPDFHQDPLHQWR QRUPDOLGDGFXDQGRVHFRQHFWDQD ULRVFRQ86%\DTXHODJHQHUDಢ
86%VäORSXHGHUHFRQRFHUVH WUDYÚVGHXQGLVFRPäYLO FLäQGHFDORUSRUHOXVRGHOWHUPLಢ
FXDQGRVHIRUPDWHDHQHOIRUPDWR QDO86%SXHGHFDXVDUSUREOHPDV
GHDUFKLYR)$76äORSXHGHQ GHIXQFLRQDPLHQWRRGDâRVHQHO
XVDUVHGLVSRVLWLYRVFRQXQWDPDâR DSDUDWR
GHXQLGDGDVLJQDGRGHE\WHV
 5HSURGXFWRUHVGHDXGLR

࿢ &XDQGRODXQLGDGOäJLFDVHVHSDUD 3UHFDXFLRQHVSDUDHOXVRGHDUFKLYRV N+]N+]N+] SDUD


GHXQGLVSRVLWLYRGHDOPDFHQDಢ GHPëVLFD86% 03(*
PLHQWRPDVLYR86%VäORVHSXHಢ ࿢ /RVDUFKLYRVGHPëVLFDGDâDGRV ࿢ (VWHDSDUDWRPXHVWUDDUFKLYRV
GHQUHSURGXFLUORVDUFKLYRVGHOQLಢ SXHGHQVXIULUFRUWHVGXUDQWHVXUHಢ 03 :0$ FRQODVH[WHQVLRQHVGH
YHOVXSHULRUGHODXQLGDGOäJLFDHQ SURGXFFLäQRSXHGHQQRUHSURGXಢ DUFKLYRPSZPD HQPLQëVFXOD
HOFDVRGHORVDUFKLYRVGHPëVLFD FLUVH R03R:0$ HQPD\ëVFXOD 
GHO86%(VSRUHOORTXHORVDUFKLಢ ࿢ /DVFDUSHWDV\ORVDUFKLYRVGHPëಢ
YRVGHPëVLFDGHEHQJXDUGDUVHHQ ࿢ (VWHDSDUDWRSXHGHPRVWUDULQIRUಢ
VLFDVHPXHVWUDQHQHORUGHQGHO PDFLäQGHODVHWLTXHWDV,' 9HUಢ
ODXQLGDGGHQLYHOVXSHULRUGHOGLVಢ 6ÞPERORඎ1ëPHURඎ,GLRPD
SRVLWLYR3XHGHTXHORVDUFKLYRVGH VLäQ VREUHÒOಢ
PëVLFDHVSHFLDOPHQWHORVGHGLVಢ ࿢ 3XHGHQUHFRQRFHUVHXQPÒ[LPRGH EXPDUWLVWDHWFSDUDDUFKLYRV
SRVLWLYRVGHDOPDFHQDPLHQWR86% FDUDFWHUHVSDUDQRPEUHVGH 03
QRVHUHSURGX]FDQFRQQRUPDOLGDG FDUSHWDVRDUFKLYRVHVFULWRVHQHO ࿢ /RVQRPEUHVGHDUFKLYRFDUSHWD
VLVHFDUJDXQDDSOLFDFLäQUHDOLಢ VLVWHPDGHDUFKLYRV-ROLHW TXHSXHGHQXVDUVHVHJëQHOWLSRGH
]DQGRXQDSDUWLFLäQHQXQDXQLGDG DOPDFHQDPLHQWRLQFOXLGDVODVH[ಢ
$FHUFDGHORVDUFKLYRVGHPëVLFD WHQVLRQHVGHDUFKLYRGHFXDWURGÞಢ
VHSDUDGDGHOGLVSRVLWLYR86%
03 :0$ JLWRV PS VRQORVVLJXLHQWHV
࿢ /RVDUFKLYRVGHPëVLFDFRQ'50 ࿢ /RVDUFKLYRV03TXHSXHGHQUHಢ
SURWHJLGRVQRSXHGHQUHSURGXಢ SURGXFLUVHVRQORVVLJXLHQWHV ဈ ,621LYHO0Ò[LPRGH
FLUVH FDUDFWHUHV
ဈ 7DVDGHWUDQVIHUHQFLDNESVa
࿢ (VWHDSDUDWRHVFRPSDWLEOHFRQ NESV ဈ ,621LYHO0Ò[LPRGH
GLVSRVLWLYRVGHDOPDFHQDPLHQWR FDUDFWHUHV
86%GHKDVWDJLJDE\WHVGHFDಢ ဈ )UHFXHQFLDGHPXHVWUHR
ဈ -ROLHW0Ò[LPRGHFDUDFWHUHV
SDFLGDGFRQXQOÞPLWHGHDUಢ N+]N+]N+] SDUD E\WH
FKLYRVFDUSHWDV\QLYHOHV 03(*
ဈ 1RPEUHODUJRGH:LQGRZVPÒಢ
GHHVWUXFWXUDGHFDUSHWDV1RVH
[LPRGHFDUDFWHUHV E\WH
SXHGHJDUDQWL]DUXQXVRQRUPDO
SDUDGLVSRVLWLYRVGHDOPDFHQDಢ ࿢ (VWHDSDUDWRSXHGHUHSURGXFLUDUಢ
PLHQWRTXHH[FHGHQHVWHOÞPLWH FKLYRV03TXHXVDQ9%5
&XDQGRXQDUFKLYR03GHOWLSR
5HSURGXFWRUHVGHDXGLR 

9%5VHUHSURGXFHHOWLHPSRUHVಢ  %RWRQHVG6((.F &RQH[LäQGHXQGLVSRVLWLYRGH


WDQWHTXHVHPXHVWUDSXHGHVHU ࿢ 3XOVHHVWRVERWRQHVSDUDUHSURGXಢ DOPDFHQDPLHQWR86%
GLVWLQWRDOWLHPSRUHVWDQWHUHDO FLUODSLVWDDQWHULRURVLJXLHQWH
%RWRQHVSULQFLSDOHVFRQWURO ࿢ 0DQWHQJDSXOVDGRVHVWRVERWRQHV
/RVERWRQHV\FRQWUROHVSULQFLSDOHV SDUDUHERELQDURDYDQ]DUUÒSLGDಢ
VLJXLHQWHVVHXVDQSDUDUHSURGXFLU PHQWH\VXÚOWHORVDFRQWLQXDFLäQ
DUFKLYRVGHPëVLFD86% SDUDTXHODSLVWDVHUHSURGX]FDD
YHORFLGDGQRUPDO
 %RWäQ&'$8;
 %RWäQ,1)250$&,Ä1>,1)2@
3XOVHUHSHWLGDPHQWHHOERWäQFXDQGR
HOGLVSRVLWLYR86%HVWÒFRQHFWDGR 0XHVWUDODLQIRUPDFLäQGHODSLVWDTXH
SDUDVHOHFFLRQDUHOPRGRGHUHSURಢ VHHVWÒUHSURGXFLHQGR
GXFFLäQ86%  %RWäQ3%$&.
 %RWäQ0(18781(FRQFRQWURO &DQFHODODRSFLäQVHOHFFLRQDGDR
࿢ *LUHHOFRQWUROSDUDGHVSOD]DUVHD YXHOYHDOPHQëDQWHULRU 7LUHGHODFXELHUWDVLWXDGDHQFLPDGHO
ODOLVWDGHSLVWDVPHQëRLQIRUPDಢ SDQHOGHLQVWUXPHQWRVSDUDDEULUOD\
FLäQGHSLVWDV03 :0$  FRQHFWDUHOGLVSRVLWLYRGHDOPDFHQDಢ
࿢ 3XOVHHOERWäQSDUDPRVWUDUODSDQಢ PLHQWR86%\UHSURGXFLUVXVDUFKLYRV
WDOODGHPHQëSURSRUFLRQDGDSRUOD GHPëVLFDHQHOWHUPLQDOGHFRQH[LäQ
RSFLäQRPRGRDFWXDO 86%
 5HSURGXFWRUHVGHDXGLR

6LHOGLVSRVLWLYRGHDOPDFHQDPLHQWR RSFLäQ([WUDHU86%&RQVXOWDUODV
86%TXHVHGHVHDUHSURGXFLUHVWÒ IXQFLRQHVGHOUHSURGXFWRU&'03HQ
FRQHFWDGRSXOVHUHSHWLGDPHQWHHO HOPHQëGH&'
ERWäQ&'$8;SDUDVHOHFFLRQDUHOUHಢ 0HQë86%ඎ([WUDHU86%
SURGXFWRU86%
(OUHSURGXFWRU86%SURFHGHDODUHಢ
SURGXFFLäQDXWRPÒWLFDDSDUWLUGHO
SXQWRGHUHSURGXFFLäQDQWHULRU
/DVIXQFLRQHVGHOUHSURGXFWRU86%
VHDFWLYDQGHIRUPDVLPLODUDODUHSURಢ
GXFFLäQGH&'03
)LQDOL]DUODUHSURGXFFLäQGHDUFKLYRV
࿢ 8QDYH]TXHHODSDUDWRKD\DILQDOLಢ GHPëVLFD86%
]DGRGHOHHUODLQIRUPDFLäQGHOGLVಢ 3XOVHHOERWäQ5$',2%$1'R&'
SRVLWLYRGHDOPDFHQDPLHQWR86% $8;SDUDVHOHFFLRQDURWUDVIXQFLRಢ
UHSURGXFLUÒORVDUFKLYRVDXWRPÒWLಢ QHV
FDPHQWH
3DUDILQDOL]DUODUHSURGXFFLäQ\GHVಢ 3XOVHHOERWäQ0(18781(HQHO
࿢ 6LVHFRQHFWDXQGLVSRVLWLYRGHDOಢ FRQHFWDUHOGLVSRVLWLYRGHDOPDFHQDಢ
PDFHQDPLHQWR86%TXHQRVH PRGRGHUHSURGXFFLäQSDUDPRVWUDU
PLHQWR86%XWLOLFHODIXQFLäQ0HQë HOPHQë86%*LUHHOPDQGR0(18
SXHGHOHHUDSDUHFHUÒXQPHQVDMH 86%ඎ([WUDHU86%SDUDH[WUDHUHO
GHHUURU\HODSDUDWRFDPELDUÒDXಢ 781(SDUDGHVSOD]DUVHKDVWD
GLVSRVLWLYRFRQVHJXULGDG ([WUDHU86%\OXHJRSXOVHHOERWäQ
WRPÒWLFDPHQWHDODëOWLPDIXQFLäQ
TXHVHXVäRDODIXQFLäQGHUDGLR 8VRGHOPHQë86% 0(18781(SDUDPRVWUDUHOPHQಢ
)0 VDMHDYLVÒQGROHGHTXHHVVHJXURH[ಢ
/DVLQVWUXFFLRQHVSDUD5HSURGXFLU
WUDHUHOGLVSRVLWLYR86%
WHPDVDOHDWRULDPHQWH5HSHWLU&DUಢ
SHWDV%XVFDUGHOPHQë86%VRQ 'HVFRQHFWHHOGLVSRVLWLYR86%GHO
VLPLODUHVDOPHQëGH&'GHXQUHSURಢ WHUPLQDOGHFRQH[LäQ86%
GXFWRU&'03VäORVHKDDâDGLGROD 9XHOYDDODëOWLPDIXQFLäQTXHVHXVä
5HSURGXFWRUHVGHDXGLR 

5HSURGXFWRUL3RG  %RWäQ,1)250$&,Ä1>,1)2@ ࿢ /RVPRGHORVGHL3RGTXHSXHGHQ


/LPLWDGRDPRGHORVFRPSDWLEOHVFRQ 0XHVWUDODLQIRUPDFLäQGHODSLVWDTXH FRQHFWDUVHRVRQFRPSDWLEOHVFRQ
FRQH[LäQL3RG VHHVWÒUHSURGXFLHQGR HVWHSURGXFWRVRQORVVLJXLHQWHV
 %RWäQ3%$&. ဈ L3RG*1DQRL3RG*1DQR
%RWRQHVSULQFLSDOHVFRQWURO L3RG* *1DQR
/RVERWRQHV\FRQWUROHVSULQFLSDOHV &DQFHODODRSFLäQDQWHULRURYXHOYHDO
PHQëDQWHULRU ဈ L3RG*%\*%&ODVVLF
VLJXLHQWHVVHXVDQSDUDUHSURGXFLU
DUFKLYRVGHPëVLFDGHOL3RG ဈ L3RG7RXFK**\*
&RQH[LäQGHOUHSURGXFWRUL3RG
 %RWäQ&'$8; ဈ L3KRQH*\*6
3XOVHUHSHWLGDPHQWHHOERWäQFXDQGR ࿢ &RQHFWHHOL3RGDHVWHDSDUDWRVäOR
HOL3RGHVWÒFRQHFWDGRSDUDVHOHFFLRಢ FRQORVFDEOHVGHFRQH[LäQFRPSDಢ
QDUHOPRGRGHUHSURGXFFLäQL3RG WLEOHVSDUDL3RG1RSXHGHQXVDUVH
RWURVFDEOHVGHFRQH[LäQ
 %RWäQ0(18781(FRQFRQWURO
࿢ (QDOJXQRVFDVRVHOL3RGSXHGH
࿢ *LUHHOFRQWUROSDUDGHVSOD]DUVH\
UHVXOWDUGDâDGRVLVHDSDJDHOHQಢ
PRVWUDUODOLVWDGHSLVWDVTXHVH
FHQGLGRFXDQGRHOL3RGHVWÒFRQHFಢ
HVWÒUHSURGXFLHQGR
WDGRDODSDUDWR
࿢ 3XOVHHOERWäQSDUDPRVWUDUODSDQಢ
&XDQGRHOL3RGQRVHXVHPDQWÚQಢ
WDOODGHPHQëSURSRUFLRQDGDSRUOD
JDORGHVFRQHFWDGRGHODSDUDWRFRQ
RSFLäQRPRGRDFWXDO
HOHQFHQGLGRDSDJDGR
 %RWRQHVG6((.F
࿢ 3XOVHHVWRVERWRQHVSDUDUHSURGXಢ 7LUHGHODFXELHUWDVLWXDGDHQFLPDGHO
FLUODSLVWDDQWHULRURVLJXLHQWH SDQHOGHLQVWUXPHQWRVGHODVLHQWRGHO
DFRPSDâDQWHSDUDDEULUODFRQHFWDU
࿢ 0DQWHQJDSXOVDGRVHVWRVERWRQHV HOL3RG\UHSURGXFLUVXVDUFKLYRVGH
SDUDUHERELQDURDYDQ]DUUÒSLGDಢ PëVLFDHQHOWHUPLQDOGHFRQH[LäQ
PHQWH\VXÚOWHORVDFRQWLQXDFLäQ 86%
SDUDTXHODSLVWDVHUHSURGX]FDD
YHORFLGDGQRUPDO
 5HSURGXFWRUHVGHDXGLR

VHUGLVWLQWDVGHODVGHOL3RGHQ
FXDQWRDORUGHQGHUHSURGXFFLäQ
PÚWRGRHLQIRUPDFLäQPRVWUDGD
࿢ &RQVXOWHODWDEODVLJXLHQWHSDUDREಢ
WHQHUODVRSFLRQHVGHFODVLILFDFLäQ
UHODFLRQDGDVFRQODIXQFLäQGHEëVಢ
TXHGDSURSRUFLRQDGDSRUHOL3RG

࿢ 8QDYH]TXHHODSDUDWRKD\DILQDOLಢ 6LHOL3RGTXHVHGHVHDUHSURGXFLU
]DGRGHOHHUODLQIRUPDFLäQGHO HVWÒFRQHFWDGRSXOVHUHSHWLGDPHQWH
L3RGUHSURGXFLUÒORVDUFKLYRVDXಢ HOERWäQ&'$8;SDUDVHOHFFLRQDUHO
WRPÒWLFDPHQWH UHSURGXFWRUL3RG
࿢ 6LVHFRQHFWDXQL3RGTXHQRVH ࿢ (OUHSURGXFWRUL3RGSURFHGHDODUHಢ
SXHGHOHHUDSDUHFHUÒHOPHQVDMH SURGXFFLäQDXWRPÒWLFDDSDUWLUGHO
GHHUURUFRUUHVSRQGLHQWH\HODSDಢ SXQWRGHUHSURGXFFLäQDQWHULRU
UDWRFDPELDUÒDXWRPÒWLFDPHQWHD ࿢ /DVIXQFLRQHVGHUHSURGXFFLäQ\
ODëOWLPDIXQFLäQTXHVHXVäRDOD /DVIXQFLRQHVSDUDUHSURGXFLUHOL3RG
ODVRSFLRQHVGHODSDQWDOODGHLQಢ VHDFWLYDQGHIRUPDVLPLODUDODUHSURಢ
IXQFLäQGHUDGLR)0 IRUPDFLäQGHOUHSURGXFWRUL3RG GXFFLäQGH&'03
XVDGDVFRQHVWHDSDUDWRSXHGHQ
6DOLUGHUHSURGXFFLäQGHL3RG
3DUDILQDOL]DUODUHSURGXFFLäQSXOVH
HOERWäQ5$',2%$1'R&'$8;
SDUDVHOHFFLRQDURWUDVIXQFLRQHV
5HSURGXFWRUHVGHDXGLR 

8VRGHOPHQëGHOL3RG *LUHHOPDQGR0(18781(SDUD  &RQWUROGH(1&(1','2


(QHOPHQëGHOL3RGODVLQVWUXFFLRQHV GHVSOD]DUVHKDVWDODIXQFLäQ 92/80(1
SDUD5HSURGXFLUWHPDV ([SXOVDUL3RG\OXHJRSXOVHHOERWäQ *LUHHOFRQWUROSDUDDMXVWDUHOYROXಢ
DOHDWRULDPHQWH5HSHWLU&DUSHWDV 0(18781(SDUDPRVWUDUHOPHQಢ PHQ
%XVFDU LQFOXLGRVDXGLROLEURV\ VDMHDYLVÒQGROHGHTXHHVVHJXURH[ಢ
FRPSRVLWRUHV VRQVLPLODUHVDOPHQë WUDHUHOGLVSRVLWLYR &RQH[LäQGHVRQLGRH[WHULRU
GH&'GHXQUHSURGXFWRUGH&'03 'HVFRQHFWHHOGLVSRVLWLYRL3RGGHO
VäORVHKDDâDGLGRODRSFLäQ([SXOVDU WHUPLQDOGHFRQH[LäQ86%
L3RG&RQVXOWDUFDGDRSFLäQGHO&'
9XHOYDDODëOWLPDIXQFLäQTXHVHXVä
03SDUDVXXVR
0HQëL3RGඎ([SXOVDUL3RG (QWUDGD$8;GHVRQLGRH[WHULRU
/LPLWDGDDPRGHORVFRPSDWLEOHVFRQ
FRQH[LäQGHVRQLGRH[WHUQD
%RWRQHVSULQFLSDOHVFRQWURO
/RVERWRQHV\FRQWUROHVSULQFLSDOHV
VLJXLHQWHVVHXVDQSDUDGLVIUXWDUGHO
H[FHOHQWHVRQLGRGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWRSURYHQLHQWHGHOD
VDOLGDGHDXGLRGHXQGLVSRVLWLYRH[ಢ &RQHFWHODVDOLGDGHDXGLRGHOHTXLSR
WHUQRFRQHFWDGR GHDXGLRH[WHUQRDOWHUPLQDOäGH
ODHQWUDGD$8;
 %RWäQ&'$8;
࿢ $8;6LWXDGDHQHOGLVSRVLWLYRGH
6LKD\XQGLVSRVLWLYRGHVRQLGRH[ಢ
LQIRHQWUHWHQLPLHQWR
WHUQRFRQHFWDGRSXOVHUHSHWLGDಢ
(QHOPRGRGHUHSURGXFFLäQSXOVHHO $8;6LWXDGDHQHOLQWHULRUGHOD
PHQWHHOERWäQSDUDVHOHFFLRQDUHO
ERWäQ0(18781(SDUDPRVWUDUHO JXDQWHUDGHODVLHQWRGHODFRPSDಢ
PRGRGHHQWUDGD $8; GHVRQLGRH[ಢ
PHQëGHOL3RG âDQWH
WHULRU
 5HSURGXFWRUHVGHDXGLR

࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
FDPELDUÒDXWRPÒWLFDPHQWHDO
PRGRGHHQWUDGD $8; GHVRQLGR
H[WHULRUFXDQGRHOGLVSRVLWLYRGH
VRQLGRH[WHUQRHVWÚFRQHFWDGR
3XOVHHOERWäQ&'$8;SDUDFDPELDU
DOPRGRGHHQWUDGDGHVRQLGRH[WHULRU
VLHOVLVWHPDGHVRQLGRH[WHULRU\DVH
KDFRQHFWDGR
*LUHHOPDQGR32:(592/80(
SDUDDMXVWDUHOYROXPHQ
7HOÚIRQR 

 %RWRQHVG6((.F
7HOÚIRQR %OXHWRRWKŸ
࿢ 3XOVHHVWRVERWRQHVHQPRGRGH
%RWRQHVSULQFLSDOHVFRQWURO UHSURGXFFLäQGHDXGLR%OXHWRRWK
3DUDUHSURGXFLUDUFKLYRVGHPëVLFDR SDUDUHSURGXFLUODSLVWDDQWHULRUR
%OXHWRRWKŸ   XWLOL]DUODVIXQFLRQHVGHOODPDGDDWUDಢ VLJXLHQWH
7HOÚIRQRPDQRVOLEUHV   YÚVGHOGLVSRVLWLYR%OXHWRRWKVHXWLOLಢ ࿢ 0DQWHQJDSXOVDGRVHVWRVERWRQHV
]DQORVERWRQHVSULQFLSDOHV\FRQWURಢ SDUDUHERELQDURDYDQ]DUUÒSLGDಢ
OHVVLJXLHQWHV PHQWH\VXÚOWHORVSDUDTXHODSLVWD
 %RWäQ&'$8; VHUHSURGX]FDDYHORFLGDGQRUPDO
&XDQGRFRQHFWHXQGLVSRVLWLYR%OXHಢ
WRRWKFRQIXQFLäQGHUHSURGXFWRUGH &RQH[LäQ%OXHWRRWK
PëVLFDSXOVHHVWHERWäQUHSHWLGDಢ 5HJLVWURGHOGLVSRVLWLYR%OXHWRRWK
PHQWHSDUDVHOHFFLRQDUHOPRGRGH
5HJLVWURGHOGLVSRVLWLYR%OXHWRRWKTXH
UHSURGXFFLäQGHDXGLR%OXHWRRWK
VHFRQHFWDUÒDOVLVWHPDGHLQIRHQWUHಢ
 %RWäQ0(18781(FRQFRQWURO WHQLPLHQWR
࿢ 3XOVHHOERWäQHQHOPRGRGHWHOÚಢ (QSULPHUOXJDUFRQILJXUHHOGLVSRVLಢ
IRQR%OXHWRRWKSDUDPRVWUDUODSDQಢ WLYR%OXHWRRWKTXHVHYDDFRQHFWDU
WDOODGHOPHQë GHVGHHOPHQëGHDMXVWHV%OXHWRRWK
࿢ *LUHHOFRQWUROSDUDGHVSOD]DUVHDO SDUDSHUPLWLUTXHRWURVGLVSRVLWLYRV
PHQëRFRQILJXUDUORVYDORUHV GHWHFWHQHOGLVSRVLWLYR%OXHWRRWK
 7HOÚIRQR

࿢ 6L\DKD\XQGLVSRVLWLYR%OXHWRRWK
FRQHFWDGRDOVLVWHPDGHLQIRHQWUHಢ
WHQLPLHQWRDSDUHFHUÒHOPHQVDMH
%OXHWRRWKRFXSDGR
࿢ (OHVWDGRGHHVSHUDHQODFRQH[LäQ
VHPRVWUDUÒFRQXQPHQVDMH\XQ
FäGLJRGHVHJXULGDG (OYDORULQLಢ
FLDOHV\SXHGHFDPELDUVHHQ
&RQILJXUDFLäQGHOVLVWHPDඎ
&RQILJXUDFLäQ%OXHWRRWKඎ
%OXHWRRWKඎ&DPELDUODRSFLäQGHO
FäGLJR%OXHWRRWK
3XOVHHOERWäQ&21),*\XVHHOERWäQ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR 6LHOUHJLVWURGHOGLVSRVLWLYRTXHGHಢ
FRQPDQGR0(18781(SDUDGHVಢ SXHGHHQFRQWUDUVHEXVFDQGRHOGLVಢ VHDFRQHFWDUDOVLVWHPDGHLQIRHQWUHಢ
SOD]DUVHD&RQILJXUDFLäQGHOVLVWHPD SRVLWLYR%OXHWRRWKTXHVHYDDFRQHFಢ WHQLPLHQWRHVFRUUHFWRODSDQWDOOD
ඎ&RQILJXUDFLäQ%OXHWRRWKඎ WDU PRVWUDUÒODLQIRUPDFLäQGHOGLVSRVLಢ
%OXHWRRWKඎ(PSDUHMDUGLVSRVLWLYR\ ,QWURGX]FDHOFäGLJRGHVHJXULGDG WLYR%OXHWRRWK
OXHJRSXOVHHOERWäQ0(18781( SDUDHOVLVWHPDGHLQIRHQWUHWHQLಢ ࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
࿢ /RVGLVSRVLWLYRV%OXHWRRWKSXHGHQ PLHQWRDWUDYÚVGHOGLVSRVLWLYR%OXHಢ SXHGHUHJLVWUDUKDVWDFLQFRGLVSRಢ
UHJLVWUDUVHQRVäORPHGLDQWHHOERಢ WRRWK VLWLYRV%OXHWRRWK
WäQ&21),*VLQRWDPELÚQPHಢ ࿢ $OJXQRVGLVSRVLWLYRV%OXHWRRWKVäOR
GLDQWHHO0HQëGHOWHOÚIRQRඎ SXHGHQXWLOL]DUVHFXDQGRODRSFLäQ
&RQILJXUDFLäQ%OXHWRRWKඎ $OZD\VFRQQHFW FRQHFWDUVLHPಢ
%OXHWRRWKඎ$âDGLUGLVSRVLWLYR SUH HVWÒDFWLYDGD
7HOÚIRQR 

&RQH[LäQHOLPLQDFLäQGHVFRQH[LäQ 3XOVHHOERWäQ&21),*\XVHHOERWäQ
GHGLVSRVLWLYRV%OXHWRRWK FRQPDQGR0(18781(SDUDGHVಢ
SOD]DUVHD&RQILJXUDFLäQGHOVLVWHPD
ඎ&RQILJXUDFLäQ%OXHWRRWKඎ
%OXHWRRWKඎ/LVWDGHGLVSRVLWLYRV\
OXHJRSXOVHHOERWäQ0(18781(
&RQHOERWäQGHOFRQWURO0(18
781(GHVSOÒFHVHGHOGLVSRVLWLYR
%OXHWRRWKUHJLVWUDGRDOGLVSRVLWLYR
TXHVHYDDFRQHFWDU\SXOVHDFRQಢ
WLQXDFLäQHOERWäQ0(18781(

3XHGHUHJLVWUDUORXVDQGRHOERWäQGHO
FRQWURO0(18781(GHVSOD]ÒQಢ
GRVHSDUDVHOHFFLRQDUGHVSOD]ÒQಢ
$WHQFLäQ GRVHSDUDHOLPLQDU\SXOVDQGRDFRQಢ
WLQXDFLäQHOERWäQ0(18781(
6LKD\XQGLVSRVLWLYR%OXHWRRWKFRಢ
QHFWDGRGHEHGHVFRQHFWDUDQWHV
HOGLVSRVLWLYR

(QSULPHUOXJDUFRQILJXUHHOGLVSRVLಢ
WLYR%OXHWRRWKTXHVHYDDFRQHFWDU
GHVGHHOPHQëGHDMXVWHV%OXHWRRWK
SDUDSHUPLWLUTXHRWURVGLVSRVLWLYRV
GHWHFWHQHOGLVSRVLWLYR%OXHWRRWK
 7HOÚIRQR

࿢ 6LKXELHUDDOJëQSUREOHPDXQDYH] XQFRQHFWRU86%(VWRVHGHEHD
FRQHFWDGRHOGLVSRVLWLYR%OXHWRRWK ODVFDUDFWHUÞVWLFDVHVSHFLDOHVGHO
XVHHOERWäQ0(18781(SDUDUHLಢ WHOÚIRQRPäYLO
QLFLDUORVDMXVWHVHQ&RQILJXUDFLäQ
GHOVLVWHPDඎ&RQILJXUDFLäQ $XGLR%OXHWRRWK
%OXHWRRWKඎ5HVWDXUDUDMXVWHVGH
IÒEULFD &äPRUHSURGXFLUDXGLR%OXHWRRWK
࿢ 8QWHOÚIRQRPäYLORGLVSRVLWLYR
,QLFLDOLFHHOGLVSRVLWLYRFRQHOSURಢ
%OXHWRRWKFRPSDWLEOHVFRQODVYHUಢ
EOHPDFDXVDGRSRUXQHUURUHQOD
VLRQHV$'3 SHUILOGHGLVWULEXFLäQ
FRQH[LäQGHOGLVSRVLWLYR%OXHWRRWK
GHDXGLRDYDQ]DGR VXSHULRUHVD
\HOVLVWHPDGHLQIRHQWUHWHQLPLHQWR
GHEHUHJLVWUDUVH\FRQHFWDUVH
࿢ $YHFHVHOGLVSRVLWLYR%OXHWRRWK DODSDUDWR
3DUDGHVFRQHFWDUHOGLVSRVLWLYR%OXHಢ VäORSXHGHFRQHFWDUVHPHGLDQWH
࿢ 'HVGHHOWHOÚIRQRPäYLORGLVSRVLಢ
WRRWKFRQHFWDGRDFWXDOPHQWHVHOHFಢ PDQRVOLEUHVRODVIXQFLRQHVGHUHಢ
WLYR%OXHWRRWKORFDOLFHHOWLSRGH
FLRQHGLFKRGLVSRVLWLYRHQODSDQWDOOD SURGXFFLäQGHDXGLR%OXHWRRWKD
GLVSRVLWLYR%OXHWRRWKSDUDFRQILJXಢ
GHODOLVWDGHGLVSRVLWLYRVGRQGHVH SHVDUGHTXHORVDXULFXODUHVHVWÒQ
UDUORFRQHFWDUORFRPRXQRVDXULಢ
PRVWUDUÒODRSFLäQ'HVFRQHFWDU\ FRQHFWDGRV6LIXHUDHOFDVRLQಢ
FXODUHVHVWÚUHR
OXHJRSXOVHHOERWäQ0(18781( WHQWHYROYHUDFRQHFWDUHOVLVWHPD
GHLQIRHQWUHWHQLPLHQWRXVDQGRHO 6LORVDXULFXODUHVHVWÚUHRVHKDQ
3UHFDXFLRQHVSDUDUHJLVWUDUFRQHFWDU GLVSRVLWLYR%OXHWRRWK FRQHFWDGRFRUUHFWDPHQWHHQOD
%OXHWRRWK SDUWHLQIHULRUGHODSDQWDOODDSDUHFH
࿢ /DIXQFLäQGHUHSURGXFFLäQGHDXಢ
࿢ &XDQGRQRVHSXHGHFRQHFWDUFRQ HOLFRQRGHXQDQRWDPXVLFDO>Q@
GLR%OXHWRRWKQRSXHGHXVDUVHHQ
HO%OXHWRRWKHOLPLQHODOLVWDGHGLVಢ DTXHOORVGLVSRVLWLYRV%OXHWRRWKTXH ࿢ 1RFRQHFWHHOWHOÚIRQRPäYLODOWHUಢ
SRVLWLYRVGHO%OXHWRRWKTXHVHYDD QRVRQFRPSDWLEOHVFRQDXULFXODUHV PLQDOGHFRQH[LäQ%OXHWRRWK
FRQHFWDUHLQWÚQWHORGHQXHYR6LQR HVWÚUHR 3XHGHRFXUULUXQHUURUVLÚVWHVH
VHSXHGHHOLPLQDUODOLVWDGHGLVSRಢ FRQHFWDGXUDQWHHOPRGRGHUHSURಢ
VLWLYRVYXHOYDDFRORFDUODEDWHUÞD\ ࿢ 1RHVSRVLEOHHVFXFKDUPëVLFDD
WUDYÚVGHODXGLRGHO%OXHWRRWKVLVH GXFFLäQGHDXGLR&'03\%OXHಢ
FRQHFWHGHQXHYRHO%OXHWRRWK WRRWK
KDFRQHFWDGRXQL3KRQHPHGLDQWH
7HOÚIRQR 

5HSURGXFLUDXGLR%OXHWRRWK ࿢ (OVRQLGRGHOGLVSRVLWLYR%OXHWRRWK ࿢ (VWDIXQFLäQVäORVHSXHGHDFWLYDU


VHUHSURGXFHDWUDYÚVGHOVLVWHPD HQGLVSRVLWLYRV%OXHWRRWKFRPSDWLಢ
GHLQIRHQWUHWHQLPLHQWR EOHVFRQODYHUVLäQRVXSHULRUGH
࿢ /DPëVLFDGHEHDOPHQRVUHSURGXಢ $95&3 SHUILOGHPDQGRDGLVWDQಢ
FLUVHXQDYH]GHVGHHOPRGRGHOUHಢ FLDDXGLR\YÞGHR  'HSHQGLHQGR
SURGXFWRUGHPëVLFDGHOWHOÚIRQR GHODVRSFLRQHVGHOGLVSRVLWLYR
PäYLORGLVSRVLWLYR%OXHWRRWKWUDV %OXHWRRWKDOJXQRVGLVSRVLWLYRV
FRQHFWDUORDXQRVDXULFXODUHVHVWÚಢ SXHGHQPRVWUDUHO$95&3TXHVH
UHRSDUDUHSURGXFLUHODXGLR%OXHಢ FRQHFWäHQODFRQH[LäQLQLFLDO
WRRWK'HVSXÚVGHUHSURGXFLUVHDO ࿢ /DLQIRUPDFLäQVREUHODUHSURGXFಢ
PHQRVXQDYH]HOUHSURGXFWRUOR FLäQGHSLVWD\ODSRVLFLäQGHSLVWD
UHSURGXFLUÒDXWRPÒWLFDPHQWHXQD QRVHPXHVWUDQHQODSDQWDOODGHO
YH]LQWURGXFLGRHOPRGRGHUHSURಢ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
GXFFLäQ\ODUHSURGXFFLäQVHGHಢ
3XOVHUHSHWLGDPHQWHHOERWäQ&' WHQGUÒDXWRPÒWLFDPHQWHFXDQGRHO 3UHFDXFLRQHVDODKRUDGHUHSURGXFLU
$8;SDUDVHOHFFLRQDUHOPRGRGHUHಢ PRGRGHOUHSURGXFWRUGHPëVLFDILಢ HODXGLR%OXHWRRWK
SURGXFFLäQGHDXGLRGHO%OXHWRRWKFRಢ QDOLFH6LHOWHOÚIRQRPäYLORHOGLVಢ ࿢ 1RFDPELHGHSLVWDGHPDVLDGRUÒಢ
QHFWDGR SRVLWLYR%OXHWRRWKQRHVWÒQHQHO SLGRPLHQWUDVVHUHSURGXFHHODXಢ
6LHOGLVSRVLWLYR%OXHWRRWKQRHVWÒFRಢ PRGRGHHVSHUDGHSDQWDOODSXHGH GLR%OXHWRRWK
QHFWDGRHVWDIXQFLäQQRSXHGHVHಢ TXHDOJXQRVGLVSRVLWLYRVQRUHSURಢ 6HWDUGDXQWLHPSRHQWUDQVPLWLUORV
OHFFLRQDUVH GX]FDQDXWRPÒWLFDPHQWHHQPRGR GDWRVGHVGHHOWHOÚIRQRPäYLODOVLVಢ
GHUHSURGXFFLäQGHDXGLR%OXHಢ WHPDGHLQIRHQWUHWHQLPLHQWR
/DDFWLYDFLäQGHOWHOÚIRQRPäYLORGLVಢ
WRRWK
SRVLWLYR%OXHWRRWKUHSURGXFLUÒORVDUಢ ࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR
FKLYRVGHPëVLFD 3XOVHORVERWRQHVG6((.FSDUD WUDQVPLWHODRUGHQGHUHSURGXFLU
FDPELDUDODSLVWDDQWHULRURVLJXLHQWH GHVGHHOWHOÚIRQRPäYLOHQHOPRGR
RPDQWHQJDSXOVDGRVHVWRVERWRQHV
SDUDDYDQ]DURUHWURFHGHUUÒSLGDಢ
PHQWH
 7HOÚIRQR

GHUHSURGXFFLäQGHDXGLR%OXHಢ 0HQVDMHVGHHUURU\PHGLGDV
WRRWK6LVHKDFHHQXQPRGRGLVಢ %OXHWRRWK $WHQFLäQ
WLQWRHQWRQFHVHOGLVSRVLWLYRWUDQVಢ ࿢ %OXHWRRWKGHVDFWLYDGR
PLWHODRUGHQGHGHWHQHUODUHSURಢ (OPHQVDMHVHPXHVWUDFXDQGROD
&RPSUXHEHVLODDFWLYDFLäQGH WUDQVPLVLäQGHFRQWDFWRVSXHGH
GXFFLäQ %OXHWRRWKHVWÒFRQHFWDGDHQ21 UHDOL]DUVHPLHQWUDVVHWUDQVPLWHD
'HSHQGLHQGRGHODVRSFLRQHVGHO /DIXQFLäQ%OXHWRRWKSXHGHXVDUVH VXYH]LQIRUPDFLäQFRQXQGLVSRಢ
WHOÚIRQRPäYLOHVWDRUGHQSDUDLQLಢ DOFRQHFWDUODDFWLYDFLäQ%OXHWRRWK VLWLYRGHGHWHFFLäQGHHUURUHV6L
FLDUGHWHQHUODUHSURGXFFLäQSXHGH ࿢ %OXHWRRWKRFXSDGR IXHUDDVÞDFWXDOLFHGHQXHYRHO
WDUGDUXQWLHPSRHQDFWLYDUVH GLVSRVLWLYR
&RPSUXHEHVLKD\GLVSRVLWLYRV
࿢ 6LHOWHOÚIRQRPäYLORHOGLVSRVLWLYR %OXHWRRWKFRQHFWDGRV'HVFRQHFWH
%OXHWRRWKQRVHHQFXHQWUDQHQHO ࿢ $JHQGDYDFÞD
HOUHVWRGHGLVSRVLWLYRVFRQHFWDGRV
PRGRGHHVSHUDGHSDQWDOODODUHಢ DQWHVGHFRQHFWDURWURGLVSRVLWLYR (VWHPHQVDMHVHPXHVWUDVLQRKD\
SURGXFFLäQSXHGHQRLQLFLDUVHGH \YXHOYDDFRQHFWDUORV QëPHURVGHWHOÚIRQRJXDUGDGRVHQ
IRUPDDXWRPÒWLFDDSHVDUGHOOHಢ HOWHOÚIRQRPäYLO7DPELÚQVH
YDUVHDFDERHQHOPRGRGHUHSURಢ ࿢ /LVWDGHGLVSRVLWLYRVOOHQD
PXHVWUDVLHOWHOÚIRQRGLVSRQHGH
GXFFLäQGHDXGLR%OXHWRRWK &RPSUXHEHVLKD\PHQRVGHGLVಢ WUDQVPLVLäQGHUHJLVWURSHURVLQVHU
6LODUHSURGXFFLäQGHDXGLR%OXHಢ SRVLWLYRVUHJLVWUDGRV1RVHSXHಢ FRPSDWLEOHFRQHOVLVWHPDGHLQಢ
WRRWKQRIXQFLRQDFRPSUXHEHVLHO GHQUHJLVWUDUPÒVGHGLVSRVLWLYRV IRHQWUHWHQLPLHQWR
WHOÚIRQRPäYLOHVWÒHQHOPRGRGH ࿢ 1RKD\DJHQGDGLVSRQLEOH
HVSHUDGHSDQWDOOD (VWHPHQVDMHVHPXHVWUDVLHOWHOÚಢ
࿢ (OVRQLGRSXHGHDYHFHVVXIULUFRUಢ IRQRPäYLOQRGLVSRQHGHWUDQVPLಢ
WHVGXUDQWHODUHSURGXFFLäQGHDXಢ VLäQGHFRQWDFWRV6LHOPHQVDMH
GLR%OXHWRRWK(OVLVWHPDGHLQIRHQಢ DSDUHFHWUDVYDULRVLQWHQWRVVLJQLಢ
WUHWHQLPLHQWRUHSURGXFHHODXGLR ILFDTXHHOGLVSRVLWLYRQRGLVSRQH
GHVGHHOWHOÚIRQRPäYLORGLVSRVLಢ GHWUDQVPLVLäQGHFRQWDFWRV
WLYR%OXHWRRWKWDOFRPRVHWUDQVಢ
PLWH
7HOÚIRQR 

7HOÚIRQRPDQRVOLEUHV $WHQFLäQ
&RQWHVWDUOODPDGDV (VSRVLEOHWUDQVIHULUVXVPHORGÞDV
GHSHQGLHQGRGHORVWHOÚIRQRVPäಢ
YLOHV$MXVWHHOYROXPHQGHODPHಢ
ORGÞDVGHOWHOÚIRQRPäYLOVLIXHUD
GHPDVLDGREDMR

࿢ 3DUDUHFKD]DUODOODPDGDSXOVHHO
ERWäQ6LOHQFLR&ROJDUGHOPDQGRD
GLVWDQFLDGHOYRODQWHRSXOVHHOERಢ
WäQ0(18781(GHOFRQWURO\VHಢ
&XDQGRUHFLEHXQDOODPDGDGHWHOÚಢ OHFFLRQH5HFKD]DU
IRQRDWUDYÚVGHOWHOÚIRQRPäYLO%OXHಢ
WRRWKFRQHFWDGRODSLVWDTXHVHHVWÒ
UHSURGXFLHQGRVHGHWLHQH\HOWHOÚಢ
IRQRVXHQDPRVWUDQGRODLQIRUPDFLäQ
UHOHYDQWH 3DUDKDEODUSRUWHOÚIRQRSXOVHHOERಢ
WäQ/ODPDUGHOPDQGRDGLVWDQFLDGHO
YRODQWHRJLUHHOERWäQ0(18781(
KDVWDODIXQFLäQ5HVSRQGHU\OXHJR
SXOVHHOERWäQ0(18781(
 7HOÚIRQR

GHQUHDOL]DUOODPDGDVGXUDQWHXQD
OODPDGDDWUDYÚVGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWR
࿢ &XDQGRFRQYHUVDQWUHVSHUVRQDVR
PÒVORVFRQWHQLGRVTXHVHPXHVಢ
WUDQSXHGHQQRFRUUHVSRQGHUVH
FRQODLQIRUPDFLäQSUÒFWLFD

)LQDOL]DFLäQGHXQDOODPDGD

࿢ 0LHQWUDVKDEODSRUWHOÚIRQRSXHGH ࿢ &XDQGRVHUHFLEHXQDOODPDGDFRQ
EORTXHDUHOVRQLGRWUDQVPLWLGRVHಢ HOVLVWHPDGHLQIRHQWUHWHQLPLHQWR\
OHFFLRQDQGRODRSFLäQGHPLFUäIRQR HVWÒFRQHFWDGRHOGLVSRVLWLYR%OXHಢ
VLOHQFLDGRPHGLDQWHHOERWäQ WRRWKKD\WHOÚIRQRVPäYLOHVTXHQR
0(18781( FDPELDQDXWRPÒWLFDPHQWHDOPRGR
࿢ 0LHQWUDVKDEODSRUWHOÚIRQRPDQಢ GHOODPDGDSULYDGD(VWRGHSHQGH
WHQJDSXOVDGRHOERWäQ/ODPDUGHO GHODVHVSHFLILFDFLRQHVRULJLQDOHV
PDQGRDGLVWDQFLDGHOYRODQWHSDUD GHFDGDWHOÚIRQRPäYLO
FDPELDUDOPRGRGHOODPDGDSULಢ ࿢ &XDQGRHVSRVLEOHXVDUVHUYLFLRV
YDGD SXHGHTXHDOJXQRVWHOÚIRQRV UHODFLRQDGRVFRQFRQYHUVDFLRQHV
QRGLVSRQJDQGHPRGRGHOODPDGD FRQWHUFHUDVSHUVRQDVDWUDYÚVGH 3DUDILQDOL]DUODOODPDGDSXOVHHOERಢ
SULYDGDGHSHQGLHQGRGHODVRSFLRಢ XQDDSOLFDFLäQGHOSURYHHGRUGH WäQ6LOHQFLR&ROJDUGHOPDQGRDGLVಢ
QHVGHOWHOÚIRQR  VHUYLFLRVGHFRPXQLFDFLäQVHSXHಢ WDQFLDGHOYRODQWHRJLUHHOERWäQ
0(18781(KDVWDODIXQFLäQ
&ROJDU\OXHJRSXOVHHOERWäQ0(18
781(
7HOÚIRQR 

/ODPDUXVDQGRODUHOODPDGD SHUGLGDVHQOXJDUGHDWUDYÚVGHO
PRGRUHOODPDGD(VWRGHSHQGHGH
ODVRSFLRQHVGHOWHOÚIRQRPäYLO

*LUHHOPDQGR0(18781(SDUDVHಢ
OHFFLRQDU6ÞRFRQWDFWRV\OXHJR
3XOVHHOERWäQ/ODPDUGHOPDQGRD SXOVHHOERWäQ0(18781(RHOERಢ
GLVWDQFLDGHOYRODQWHSDUDPRVWUDUOD WäQ/ODPDUSDUDUHDOL]DUXQDOODPDGD
SDQWDOODGHJXÞDGHUHOODPDGDRPDQಢ 3XOVHHOERWäQ0(18781(PLHQWUDV
࿢ 6LHOWHOÚIRQRPäYLOQRHVWÒHQ HOWHOÚIRQRHVWÒFRQHFWDGRSDUDPRVಢ
WHQJDSXOVDGRHOERWäQSDUDPRVWUDU
PRGRGHHVSHUDSXHGHTXHVXWHಢ WUDUODVIXQFLRQHVGHFRQH[LäQWDO
ODSDQWDOODGHUHJLVWURGHOODPDGDV
OÚIRQRQRLQFOX\DODIXQFLäQUHOODಢ FRPRVHPXHVWUDDUULED
PDGD(VWRGHSHQGHGHODVRSFLRಢ
QHVGHOWHOÚIRQRPäYLO 8WLOLFHHOERWäQ0(18781(SDUDDFಢ
FHGHUDODVIXQFLRQHVGHOPHQëTXH
࿢ &XDQGRVHUHDOL]DXQDUHOODPDGD DSDUHFH
QRVHPXHVWUDHOQëPHURGHWHOÚಢ
IRQRFRQHOTXHVHFRQHFWD 0LHQWUDVKDEODSRUWHOÚIRQRPDQಢ
WHQJDSXOVDGRHOERWäQ/ODPDUGHO
࿢ 'HSHQGLHQGRGHOWHOÚIRQRPäYLO PDQGRDGLVWDQFLDGHOYRODQWHSDUD
KD\FDVRVHQORVTXHODOODPDGDVH FDPELDUDOPRGRSULYDGR
UHDOL]DDWUDYÚVGHOUHJLVWURGHOODಢ
PDGDVGHODVOODPDGDVUHFLELGDVR
 7HOÚIRQR

/ODPDGDLQWURGXFLHQGRORV  0RYHU0RYHUSRVLFLäQGHLQWURಢ
QëPHURV GXFFLäQ
 %RUUDU%RUUDUHOFDUÒFWHULQWURGXಢ
FLGR
 $JHQGD%XVFDUFRQWDFWRV VH
SXHGHXVDUWUDVDFWXDOL]DUORVQëಢ
PHURVGHWHOÚIRQR
 0DUFDU,QLFLDUPDUFDFLäQ

*LUHHOFRQWURO0(18781(SDUDVHಢ
OHFFLRQDUODVOHWUDVGHVHDGDV\SXOVH
DFRQWLQXDFLäQHOERWäQ0(18
3DUDUHDOL]DUXQDOODPDGDLQWURGXಢ 781(SDUDLQWURGXFLUHOQëPHUR
FLHQGRHOQëPHURGHWHOÚIRQRSXOVH ࿢ 5HSLWDHVWHSDVRSDUDLQWURGXFLUWRಢ
HOERWäQ0(18781(\JLUHHO GRVORVQëPHURVGHWHOÚIRQR
PDQGRSDUDVHOHFFLRQDU,QWURGXFLU
QëPHUR\OXHJRSXOVHHOERWäQ ࿢ 3XOVHHOERWäQ3%$&.SDUDERUUDU
0(18781( ODVOHWUDVXQDDXQDRPDQWHQJD
SXOVDGRHOERWäQSDUDERUUDUWRGRHO
FRQWHQLGRTXHKDLQWURGXFLGR 8QDYH]LQWURGXFLGRHOQëPHURGHWHಢ
OÚIRQRFRPSOHWRJLUHHOPDQGR
࿢ &RQVXOWDUORVFRQWHQLGRVVLJXLHQಢ
0(18781(SDUDVHOHFFLRQDUHOLQLಢ
WHVSDUDHGLWDUORVFRQWHQLGRVLQWURಢ
FLRGHODPDUFDFLäQ>\@\SXOVHOXHJR
GXFLGRV
HOERWäQSDUDUHDOL]DUODOODPDGD
7HOÚIRQR 

3DUDILQDOL]DUXQDOODPDGDJLUHHO (QODSDQWDOODDSDUHFHXQDQRWLILFDಢ
FRQWURO0(18781(SDUDVHOHFFLRಢ FLäQLQGLFDQGRTXHQRKD\FRQWDFWRV
QDUODIXQFLäQGHILQDOL]DFLäQGHOODಢ \VHYXHOYHDOPHQëDQWHULRU
PDGD\SXOVHDFRQWLQXDFLäQHOERWäQ *LUHHOPDQGR0(18781(SDUDVHಢ
0(18781( OHFFLRQDU%XVFDU\OXHJRSXOVHHOERಢ
WäQ0(18781(
8VRGHOPHQëGHOWHOÚIRQR
*LUHHOFRQWURO0(18781(SDUDVHಢ
0HQëGHOWHOÚIRQRඎ$JHQGDඎ OHFFLRQDU1RPEUHR$SHOOLGR\SXOVH
%XVFDU DFRQWLQXDFLäQHOERWäQ0(18
781(

*LUHHOFRQWURO0(18781(HQOD
SDQWDOODGHUHVXOWDGRVGHODEëVಢ
TXHGDSDUDVHOHFFLRQDUHOFRQWDFWR
TXHGHVHH\SXOVHDFRQWLQXDFLäQHO
ERWäQ0(18781(SDUDYHUORVGHಢ
WDOOHVGHOFRQWDFWR

3XOVHHOERWäQ0(18781(JLUHHO
PDQGR0(18781(SDUDVHOHFFLRಢ *LUHHOFRQWURO0(18781(SDUDVHಢ
QDU$JHQGD\OXHJRSXOVHHOERWäQ OHFFLRQDUWÚUPLQRVUDQJRGHEëVಢ
0(18781( TXHGD\SXOVHDFRQWLQXDFLäQHOERಢ
WäQ0(18781(
 7HOÚIRQR

0HQëGHOWHOÚIRQRඎ$JHQGDඎ
$FWXDOL]DU

3DUDOODPDUDOQëPHURUHOHYDQWH *LUHHOPDQGR0(18781(SDUDVHಢ
SXOVHHOERWäQ0(18781( OHFFLRQDU6ÞR1R\OXHJRSXOVHHOERಢ
3DUDPÒVLQIRUPDFLäQFRQVXOWHODRSಢ WäQ0(18781(SDUDDFWLYDURFDQಢ
$FWXDOL]DORVFRQWDFWRVGHOWHOÚIRQR
FLäQGHUHDOL]DFLäQGHOODPDGDV FHODUODDFWXDOL]DFLäQ
PäYLOFRQHFWDGRFRQORVFRQWDFWRV
GHOVLVWHPD $YLVRSDUDODDFWXDOL]DFLäQGHFRQಢ
WDFWRV
8VDQGRHOERWäQFRQPDQGR0(18
࿢ (VWDIXQFLäQSXHGHXVDUVHFRQWHಢ
781(VHOHFFLRQH0HQëGHOWHOÚIRQR
OÚIRQRVPäYLOHVTXHGLVSRQHQGH
ඎ$JHQGDඎ$FWXDOL]DU\OXHJRSXOVH
DFWXDOL]DFLäQGHFRQWDFWRV\ODIXQಢ
HOERWäQ0(18781(
FLäQGHWUDQVPLVLäQGHOUHJLVWURGH
OODPDGDV 6LVHFRQHFWDHOVLVWHPD
DXQWHOÚIRQRPäYLOTXHQRGLVSRQH
GHHVWDVIXQFLRQHVHOUHJLVWURGH
OODPDGDVSXHGHPRVWUDUVHDWUDYÚV
GHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR
7HOÚIRQR 

࿢ /DDFWXDOL]DFLäQQRHVWÒGLVSRQLEOH FRPSUXHEHVLHOWHOÚIRQRPäYLOKD ࿢ &XDQGRVHFRPSOHWDODDFWXDOL]Dಢ


SDUDPÒVGHQëPHURVGH VROLFLWDGRHOFHUWLILFDGR FLäQGHFRQWDFWRVRODWUDQVPLVLäQ
FRQWDFWR &XDQGRVHVROLFLWDHOFHUWLILFDGRGHO GHOUHJLVWURGHOODPDGDVWRGRVORV
࿢ 7HQJDHQFXHQWDTXHODUHSURGXFಢ WHOÚIRQRPäYLOWRGDVODVFRQH[LRಢ PRGRVGHUHSURGXFFLäQGHDXGLR
FLäQGHDXGLRPDQRVOLEUHV\%OXHಢ QHV%OXHWRRWKVHGHVDFWLYDQVLQR PDQRVOLEUHV\%OXHWRRWKVHGHVFRಢ
WRRWKVHGHWHQGUÒPLHQWUDVVHUHDಢ VHDFHSWDODVROLFLWXG\HOGLVSRVLಢ QHFWDQ\YXHOYHQDFRQHFWDUVHDXಢ
OL]DODDFWXDOL]DFLäQGHFRQWDFWRV WLYRVHYXHOYHDFRQHFWDU WRPÒWLFDPHQWH
DXQTXHSRGUÒQXWLOL]DUVHRWUDVIXQಢ ࿢ 6LKD\XQSUREOHPDFRQODLQIRUPDಢ ࿢ 6LHOVLVWHPDGHLQIRHQWUHWHQLಢ
FLRQHV  FLäQDOPDFHQDGDHQHOWHOÚIRQRPäಢ PLHQWRVHGHVDFWLYDPLHQWUDVVH
࿢ 3DUDDFWXDOL]DUVXVFRQWDFWRVVH YLOSXHGHTXHORVFRQWDFWRVQRVH KDEODSRUWHOÚIRQRODOODPDGDVH
SXHGHVROLFLWDUHOFHUWLILFDGRGH DFWXDOLFHQ WUDQVPLWHDOWHOÚIRQRPäYLO3XHGH
WUDQVPLVLäQGHFRQWDFWRV6LODSDQಢ TXHDOJXQRVWHOÚIRQRVGHEDQFRQಢ
࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR ILJXUDUSUHYLDPHQWHXQDIXQFLäQGH
WDOODGHHVSHUDQRFDPELDGXUDQWH XVDVäORLQIRUPDFLäQFRGLILFDGDHQ
XQSHULRGRSURORQJDGRSXHGH WUDQVPLVLäQGHSHQGLHQGRGHOWLSR
IRUPDWR87) GHWHOÚIRQR
FRPSUREDUVLHOWHOÚIRQRPäYLOKD
VROLFLWDGRHOFHUWLILFDGR&XDQGRVH ࿢ 6LKD\RWUDVIXQFLRQHVDFWLYDV MXHಢ ࿢ 6LHOXVXDULRSRQHILQDODFRQH[LäQ
VROLFLWDHOFHUWLILFDGRGHOWHOÚIRQR JRVEëVTXHGDHQPDSDQDYHJDಢ GLUHFWDPHQWH XVDQGRHOVLVWHPD
PäYLOWRGDVODVFRQH[LRQHV%OXHಢ FLäQHWF GXUDQWHODDFWXDOL]DFLäQ GHLQIRHQWUHWHQLPLHQWRRWHOÚIRQR
WRRWKVHGHVDFWLYDQVLQRVHDFHSWD GHFRQWDFWRVRHOSURJUHVRGH PäYLO ODIXQFLäQGHFRQH[LäQDXಢ
ODVROLFLWXG\HOGLVSRVLWLYRVHYROಢ WUDQVPLVLäQGHOUHJLVWURGHOODPDಢ WRPÒWLFDQRVHDFWLYDUÒ
YHUÒDFRQHFWDU GDVSXHGHTXHHOSURFHVRGHDFಢ
WXDOL]DFLäQWUDQVPLVLäQQRIXQಢ &RQH[LäQDXWRPÒWLFDHVWDIXQFLäQ
࿢ &XDQGRVHUHFLEHHOUHJLVWURGHOODಢ FLRQH HQFXHQWUD\FRQHFWDDXWRPÒWLFDಢ
PDGDVHVSRVLEOHVROLFLWDUHOFHUWLಢ PHQWHHOGLVSRVLWLYRTXHVHFRQHFWä
ILFDGRGHWUDQVPLVLäQSDUDHOUHJLVಢ (VWRVHGHEHDTXHRWUDVIXQFLRQHV HQëOWLPROXJDU
WURGHOODPDGDVGHOWHOÚIRQRPäYLO DFWLYDVHQHOWHOÚIRQRPäYLODIHFWDQ
ODWUDQVPLVLäQGHGDWRV ࿢ 3XHGHTXHORVFRQWDFWRVQRPXHVಢ
6LODSDQWDOODGHHVSHUDQRFDPELD WUHQVLHPSUHWRGDVODVOLVWDVGHOWHಢ
GXUDQWHXQSHULRGRSURORQJDGR OÚIRQRFXDQGRVHVHOHFFLRQDQ(O
 7HOÚIRQR

VLVWHPDGHLQIRHQWUHWHQLPLHQWR ࿢ /DVOODPDGDVUHJLVWUDGDVHQORV 8VDQGRHOERWäQFRQPDQGR0(18


PXHVWUDVäORORTXHVHKDWUDQVPLಢ FRQWDFWRVVLQQRPEUHVHLQGLFDUÒQ 781(VHOHFFLRQH0HQëGHOWHOÚIRQR
WLGRGHVGHHOWHOÚIRQRPäYLO FRPR6LQQëPHURHQFRQWDFWRV ඎ$JHQGDඎ%RUUDUWRGRV\OXHJR
࿢ /DDFWXDOL]DFLäQGHFRQWDFWRVVäOR ࿢ (OVLVWHPDGHLQIRHQWUHWHQLPLHQWR SXOVHHOERWäQ0(18781(
SXHGHUHFLELUFXDWURQëPHURVSRU PXHVWUDORVFRQWDFWRVHOUHJLVWUR *LUHHOPDQGR0(18781(SDUDVHಢ
FDGDFRQWDFWR 0äYLO7UDEDMR3DUಢ GHOODPDGDV\ODLQIRUPDFLäQVREUH OHFFLRQDU6ÞR1R\OXHJRSXOVHHOERಢ
WLFXODU\2WUR  UHOODPDGDVWDOFRPRVHWUDQVPLWHQ WäQ0(18781(SDUDERUUDUWRGRV
࿢ 6LVHFDPELDODFRQILJXUDFLäQGHO GHVGHHOWHOÚIRQRPäYLO ORVFRQWDFWRVRFDQFHODU
LGLRPDGXUDQWHODDFWXDOL]DFLäQGH
0HQëGHOWHOÚIRQRඎ$JHQGDඎ%RUUDU 0HQëGHOWHOÚIRQRඎ/LVWDVGH
FRQWDFWRVVHHOLPLQDUÒQWRGDVODV
WRGRV OODPDGDV
DFWXDOL]DFLRQHVDQWHULRUHV
࿢ 6LHOWHOÚIRQRPäYLOQRVHFRQILJXUD
FRQXQDSDQWDOODGHHVSHUDSXHGH
TXHQRVHSXHGDQUHDOL]DUOODPDGDV
DHVWHVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR
࿢ 6LVHDFWXDOL]DHOVLVWHPDRSHUDWLYR
GHOWHOÚIRQRPäYLOSXHGHTXH
DIHFWHDODIXQFLäQ%OXHWRRWKGHOWHಢ
OÚIRQR
࿢ /RVFDUDFWHUHVHVSHFLDOHV\ORV
LGLRPDVQRFRPSDWLEOHVVHPRVWUDಢ
UÒQFRPRBBBB
6HERUUDUÒQWRGRVORVQëPHURVGHWHಢ &RPSUXHEHXVHRERUUHORVFRQWDFಢ
OÚIRQRTXHVHKDQDOPDFHQDGRHQORV WRV
FRQWDFWRVGHOVLVWHPD
7HOÚIRQR 

8VDQGRHOERWäQFRQPDQGR0(18 ࿢ 6LWUDVKDEHUVHOHFFLRQDGRHOUHJLVಢ 0HQëGHOWHOÚIRQRඎ&RQILJXUDFLäQ


781(VHOHFFLRQH0HQëGHOWHOÚIRQR WURGHOODPDGDVVHVLJXHPRVWUDQGR %OXHWRRWK
ඎ/LVWDVGHOODPDGDV\OXHJRSXOVHHO ODSDQWDOOD(VSHUHSRUIDYRUGXಢ
ERWäQ0(18781( UDQWHXQSHULRGRSURORQJDGRFRPಢ
&RQHOERWäQ0(18781(GHOFRQಢ SUXHEHVLHOWHOÚIRQRPäYLOHVWÒVRಢ
WUROVHOHFFLRQHHOUHJLVWURGHOODPDಢ OLFLWDQGRODYHULILFDFLäQGHODWUDQVಢ
GDVGHWDOODGR\SXOVHDFRQWLQXDFLäQ IHUHQFLDGHORVQëPHURVGHODVOODಢ
HOERWäQ0(18781( PDGDV7UDVFRPSOHWDUORVSURFHಢ
GLPLHQWRVGHYHULILFDFLäQGHOWHOÚಢ
IRQRPäYLOORVFRQWDFWRV\HOUHJLVಢ
WURGHOODPDGDVVHWUDQVPLWHQDO
VLVWHPDGHLQIRHQWUHWHQLPLHQWR
࿢ (OUHJLVWURGHOODPDGDVGHOWHOÚIRQR
PäYLO\HOUHJLVWURTXHVHPXHVWUD
HQHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWRSXHGHQQRFRLQFLGLU(OVLVಢ )XQFLäQGHFRQILJXUDFLäQ%OXHWRRWK
WHPDGHLQIRHQWUHWHQLPLHQWRPXHVಢ 8VDQGRHOERWäQFRQPDQGR0(18
WUDODLQIRUPDFLäQWDO\FRPRVH 781(VHOHFFLRQH0HQëGHOWHOÚIRQR
WUDQVPLWHGHVGHHOWHOÚIRQRPäYLO ඎ&RQILJXUDFLäQ%OXHWRRWK\OXHJR
SXOVHHOERWäQ0(18781(
3DUDDFWLYDUODIXQFLäQ%OXHWRRWKUHಢ
*LUHHOFRQWURO0(18781(SDUD JLVWUDUFRQHFWDUHOLPLQDUHOGLVSRVLಢ
FRPSUREDUHOUHJLVWURGHOODPDGDV\ WLYR%OXHWRRWKRFDPELDUHOFäGLJR
UHDOL]DUXQDOODPDGD %OXHWRRWKVHOHFFLRQH%OXHWRRWKPHಢ
3XOVHHOERWäQ0(18781(SDUDOODಢ GLDQWHHOERWäQ0(18781(GHOFRQಢ
PDUDOQëPHURVHOHFFLRQDGRGHOUHಢ WURO\FRQHOERWäQ0(18781(GHO
JLVWURGHOODPDGDV FRQWUROFRQILJXUHODRSFLäQGHVHDGD
 7HOÚIRQR

PLHQWR3DUDHVWRVWHOÚIRQRVPäYLಢ
OHVQRHVSRVLEOHXVDUODPHORGÞD
VHOHFFLRQDGD
࿢ 3DUDORVWHOÚIRQRVPäYLOHVTXH
WUDQVILHUHQVXVPHORGÞDVHOYROXಢ
PHQGHODPHORGÞDVHEDVDHQHO
YROXPHQWUDQVPLWLGRGHVGHHOWHOÚಢ
IRQRPäYLO$MXVWHHOYROXPHQGHOD
PHORGÞDGHOWHOÚIRQRPäYLOVLHOYRಢ
OXPHQHVGHPDVLDGREDMR

Si su vehículo esta equipado con


3DUDFRQILJXUDUHOWRQRGHOODPDGD\ 3DUDUHLQLFLDOL]DUODFRQILJXUDFLäQGH sistema Bluetooth
HOYROXPHQXVDGRSRUODIXQFLäQ%OXHಢ %OXHWRRWKDVXVYDORUHVSUHGHWHUPLಢ
WRRWKVHOHFFLRQH6RQLGR\6HâDOPHಢ QDGRVXWLOLFHHOERWäQFRQPDQGR La operación de este equipo está
GLDQWHHOERWäQFRQPDQGR0(18 0(18781(SDUDVHOHFFLRQDUODRSಢ sujeta a las siguientes dos
781(\OXHJRFRQILJXUHODVRSFLRQHV FLäQGHUHVWDXUDUODFRQILJXUDFLäQLQLಢ condiciones:
GHVHDGDVFRQGLFKRERWäQ FLDO\OXHJRVHOHFFLRQH6ÞFRQHOERWäQ
0(18781(
(1) es posible que este equipo o
࿢ 'HSHQGLHQGRGHOWLSRGHWHOÚIRQR dispositivo no cause interferencia
HVSRVLEOHTXHORVWRQRVGHOODPDGD perjudicial y
TXH\DWLHQHHQVXPäYLOVHWUDQVಢ
ILHUDQDOVLVWHPDGHLQIRHQWUHWHQLಢ
(2) este equipo o dispositivo debe
aceptar cualquier interferencia,
incluyendo la que pueda causar su
operación no deseada.
7HOÚIRQR 


¾QGLFHDOIDEÚWLFR $
$QWHQDGHPÒVWLOILMR 
%
%OXHWRRWKŸ 
'
'LVSRVLWLYRDQWLUURER 
'LVSRVLWLYRVDX[LOLDUHV 
,
,QIRUPDFLäQJHQHUDO 
0
0DQHMR 
3
3HUVRQDOL]DFLäQ 
5
5DGLR$0)0 
5'6 5DGLR'DWD6\VWHP  
5HSURGXFWRUGH&' 
5HVXPHQGHORVHOHPHQWRVGH
FRQWURO 
7
7HOÚIRQRPDQRVOLEUHV 
Notas
Notas

You might also like