o«(®4| 202 Aromat. a Consteuczion Fresecrs, — |ataduchon te Feaoibi lth, Study —> Financial \h Economic For bilife Economic Conndarah'oo —> Volue fe MHeny and Cott Ffk. > Sore. *+ Drprend finance. - — Drveloperts Rudgsb | iecpueg vet To FRASIQILITY Stu Dy | 9, ~ Keoot bility stole (s 4 pre evreess anf | Rkeminadtion te deotde the wabilary & def. tnveriuerts — albernaty ves, - Visteiiite = Poailty of seeceos ful. inedined HF emibility Sudg> art am enon pla A syit analysts, Le [kes amalycis (4 vse} NS examin the pads rity o} proposele, apes -+ pte easee = Onbpuf. 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Veet feos eats sheds L—> Wet Fee ilotity sty 4y Dove in cdl pried, > Teds | aod Evy treectig Fens! Lt sty. 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Sovw A. frame Viteroal Cehrentt vgn) = | emd _ 2rfsrna| Cpnieb seca bartes) | Pottec Sector Le Robe (net fR mchve St Peranevel viabibits huclees ennedty sufhrwent foods will ey available fs posal ee tot pre divs, qiven pubbe cons Scanned with ConSconner| Etene ot Veal ty | 7 Pecoget teat fe kl Cots nel alone _reftaded fy ‘Hee mmarfie pat fer Loreen . [= To _ poo Grperks 4 a_tonity. paged Ort toneerned pile He Lal sede? _ ability Fe peek th aims and abgedtves. [1 But francal and nen -hranta| Lore ace akeys art indo ded 1) 2Lenonn? wally = | \ 3 Sedgrent alkene qed When | camry 5 ovk finan vial or 20~OnomMiC opp | alasale, - | —» lu partner wht ts wneud | ey che fom | lee appraicals? > Foam eb : | e\o Lirancia| aperisals, cot of cite | mest lot includ d if |e Ppripoe a Scanned with ConSconnerYe cttablicl, Tekel ut of perfect > But 4 ee Qualys A tool Pow vei only inde de Kose (tems for Si cosh frewed (ets ovt accouml - 2 \f los nite Uso oumed and par dev lefow dectscwn ts \aatlef \he valve A ter lend {6 exduded fom a Gok Nove __.____# \ : eI Move cer VS We popes Ahan apps (sR compan alf. oly Cost elemedd Whack defen Aven open ie bps need be inde dod, - —a o lu tes tee IB Cans wold ast eee sits a. coat Compendon A Wdeg designe, » becrwsy, Wee te 8 fdostreall, Gover a Diferne - Fine Leorrbitts a{S-| View suly bonnder The hc a bow hk Ceeat Ve ben) | Fin Cs f oh Cais ‘Scanned with ConSconner| Ee hemi biltty stdew ale Fite: ele | _ uens Rua, (oniiderakiens (nbs acour§- (— Ee. vabilite fee aber, mvolees fel - Arrave'al As pedis and broader (ss u0o sud ge _ paillever atteds an oppett - wily cota : Spillove= effet hes tee Sepat Keo seemiugly Uneslated ener ihe] one area can hare 0% fe 200m oma | dh olker ane, | Ope wttontes Csste. : Te te gileriel gai from Sheer alt. len 1 ole ja cheosen — For 2g. opprtonste, tacts {6 hou muck \edet Hts cut_give up tre iz San fre ‘Sa given henmutroo’ mh opr: Letts thee (FA feesireg vmntier Large | tee opps & 4 te nef] dest ab.Sisncframe fee Biers ean - Finendal and Keone mic wabilty 1 \f it ejech i economically anf | Arewslally viebl fen iE Gos. proced._| a.) 4 boa conor dally hud eh frond Wabl, faq [Re projet call act ahrad. | — Pour wil be (ecsefhrer ent Veoble ws 4. on 1 fem all Leva te pay fen comfy. | MAL h ara and cunning coxsfz, = Een, NWwable 6 ee Goh intofed 4 fae amp cody. te [be ott faders Far. walle Kean the rueshed Cnount| conf {br these baught by (Le project | — ooh fe berwhih ill lor grectar len, Mee Losfs 2 — Peejad con le made Fireneralty walle | Ke roagh Sw badres, 2 \f tors frrauvvaly bob net eusrow'call Mae feu the prysid shesld ust gr aleach = Though ie bray bever}keleo pre ed : | Scanned with ConSconnerdc pencting bn te (hte cect tove(_pepeni{ hy eter A fee deo malors, | Finaresel Eo nehs cal -| = Daj uct _ Roblyre- oe - Vane FOR Me WEY “hwo Cost FeeCI | ENESS. > Tes Purpose $f dedveias freovls ai Ut fs sLian valor Le money VEM ae i chtamed by Compan’ ing relevent te sand benefits dh dcflortut pessitele Russ opts Alem suggests “ea bright eaten pose | a gwen ancuct A money, Lp “Puselert, fee Concer pb ep vem relat « Ayatres torts ee — Coty elferoreness - ina phon prding a gwen | ae of atcomodalios at a min. Cosh’ [Peveraee (6 fray vst be 4 maltee of mmnrerie-Vaio eee —» Cort alle torenees oa usef ol an fe rion +. le apply te le meee 4 achien'ng Kats sel of Aged ver - | => Ger, Rxample & betlding should: = | oe Pondhen — elfrientty ts Tims ohne ef peopls US lng a7 and Free ack vibes wilbin ite “| © Vakee con of qaothetie Raw emake) * Aad. Soura) aspects. 1 Ab eny stage of deatgn, and even during tne tomtauchton fags, destaners need Yomider allt. somes | potted af corvitrudion and (witha cand fatcut Cosh. ? mes atm dh dit As kB mala Cott comp arson and produce Cott effective — desigus When Vawtatens required by Arent, comp | anioys can bp mach ilk lke original oF 1 \n_ mot cor24 , bldug duveloprent is _Iholy AB beh ore people Sith Cooney ethers KK lose, a vorkstehoe, Obyockove | - Gv artifaltue ~ silejedve, Sens ieee _ Ssetal oft) a \ner ventana +s ae lah bers | = boss 8] pads fp ’com petting \eey be sso, as Nek. > Extra poll hon . — ask ger Pre in He Nelue of prapecy west ES _ | Sool bewht Cob new tome nt nie Canter tu 4 ic £5¥) fox Raum ple) + - : —y \nxased peblraty fe te fm > becmoed Amd fer loca chops ¢ beth — breaker ae of poole tram pot fruit—— fecal ke fs py @ BD 3 met kk dedutd iwapwetar APP Raisosae \nwcateent aperial techn urs, Seo fe dant TO Geer na 2 gar a ark pee ed heme Wy Ke ool oe = Ae an ob te pr poss energh? chee progaes Tran | RY Pas Agrnsd TL eabrncquae marsk Valor Wee) ttered Rae of Rte ae) — Anveal Tqaralt — Day be pool — bDecde get Beds eb 1 Net PRESENT VALE > A> known a — Net pret Wot preted Cres) Scanned with ConSconnerNeb Drented — Prosent Valuy Norv) Ths Nev chows the pent Nee of x pe pesel- a Tre pelked used 45 amiecer the bear - \avest me af qo MORE eesretie a lesietar | Vavedment i eeth Compat 1F amount | invested 2 a aa The valve of 6 proposal is derived frov fhe team peverce's, less lode geveied Dy fee | tule. - 7 _. Eau yews nfl revenwe — meost tens bp dacountes AL ER prec ty otaler | all Waluer equivalent q | th wis] tots Ff tootfraction ane Ihes | substracted Som hee discounted net revenue z | de produce Nev / J as \talnar the Nopv, te grder Phe mer. | ~My Ate nalve eb project’ | rvenves GY Gash feo | Cota CY) we : / | Teens — Osh = phi |income Coce- ey) | , | dane) drum - Contr. Gon = NPPY, | Scanned with ConSconnerWos, for exam ele» Te NPY in te Senibilts dedy ta bul ding payed “a Sey, 52 C00 oof= @ c given \te-es Wan iE implies that fe Bday — eill ih tee log roo Gewete neb berets heck, aoe Aucoented beule, ell be f@pen (03) 1 | AGE +f 0.0061 0:06 = 0066! 1__) Then Gp Catt) = $10259208 x0” (0.066) = 332 1332 649 W/ Ruonig Gost = 190 00, O00 _ AE = Olt) + Cy AFH] EG. | = 60, 000 0D +8322 (33 649 +1D,cm aw AE tors - | T hae 4 = 3,53? | 123 bY9 Scanned with ConSconnerri | ? Py= See 2? healer cath =A (G74) i(4ay 6 lor sosoee( >) [ Pv Sheme 0-1 (rte) f= 470 268\ 55.50 Me © Gt fm ther gradse 'Jo00c000 ® Hawtain ene cosh @ | Pu = sccccee [(4o on Chapa)’ Puc |20e5000 dbhour wh - Pu 2 Goooenee X -He3 BS = 26}Seeoe0 Scanned with ConSconnerZ P= Tecese0e + (s0¢5080 F 261 200008 Vv 344 865 060. @ Salveg, alot. |Scooo00 x J) = 8 +67 |o@-45 ve Sku = 244 M5000 — 8 FoTI08- IS = 28529781. Scdeme BV, (GEN na nee igoiomleconee © Rvp = 2 oa0ccee (an) = 24793380-42 as @ Pry = 2Booeeee (aor) = N92 4.27695 (D labor Post Py = 442200 ee = Qo4 oF 0,000.00 Iyeont Ve" gets] 312,987,765 .20 To mot econemivca| scene [s scheme My Scanned with ConSconner: * edelzo21 NET PRESENT Vata Nev oh a prged {5 @ sor 4 = preaenb sak | of all con Alec C pasibivs).en (nagar) ee @ life 4 tee pojed - _ 4 f } Nev = Se aa fasta Gnwoakoneed Whee ch scach flr Bf end 4 esc yo 1 -\fe oh te pajeit —_] te — Hiscomb rah, cod of Capita) \Wee patatten } | 2 O ave acest, f _ & —-.« vejedh | Wo \ndth aes: | Lymthation > 3 Ge ak Ay Flert strat. vowing sale o% tnasheduration of tev Mb favour jou Io elitow harh over Aya BO, > Peer web euntder duration A Ibe pregeds” NPV feonlt aie influencd by disvort cals . | Examele Pied g NPY SH the fallooint, given c= 1% Near Cashflow | ° 1.00000,00 | \ 20000000 2 29000000 a 200 00000% | a 20009000 & RS of Be ne fib Cot (Lation @» cor Probtabiltty Index, Peet ot es cefwing fe tla she be tcreen bored and wits. (0 Renebib— cot etter @]e®) = PYB ip Scanned with ConSconner: 7 @ obs asa nk woke L- — Vastra \nvestveadi _ Decaven yuk Quitepeelatron) a | Whee per se Nace Retdfon rah, ee ft oA Reve 7 at =o Nadi feb ef 4h Prejed- _ Li eat bons 7 Ace vcoes only law _ Tnvestrae ob i done ab one 5 mo oe joved mew Gund be ured be compart posh of Filet reget’ Scanned with ConSconner‘Sm & Fy O, Nev = a Y= 4100000 000. [ae + 200e0000 4 80000000 + 20000000 -f ( O Cyr SB ae ho = 7827] 6220 He cal om the pryed : gue ib (Gur. a negetrve vale’) male Ins E2716 22° Exa-¢le 2. | Fisd a Neb Presents Valve 4. Hee Boring ster ‘ Cass low Psrcouwt a - \ goo00000 [a 3a BeoooseS | Ie; + Boooco ef o qt Nae 25000000 207,Me sg = = ___L= }oeo000e00 -[ eso f BweeHsoo Melson s Qay Cy) Toto) Gskwsiyy| issoosce -.— 400000900. Cegce 1s) (4a dee) = -N4 502457, BC | = Se Exam ph . ILA vio fie develope oo suitability vote (ah Near Coa Drewes o (co000000) i : 25000000 a 40000 000 | 3 42000000 | te 56000000, | ies Scanned with ConSconner | | | 4 this rezoo a tele (et W122 C)t2) + -(Locccocee), > PVE = 25000000 F-40000000 4+ HOo0~, G2000C0P = -\ 145 Te prjer u'll be vejecbed sha fb gilve Jous . osjee\202 1 | INTERNAL | RATE oF RETURN - Wewe ur weed & fond Roy, Qe nd mroe govided lay BOT WW jAerot 247), Fuad Nos ats a (need co. the Compan | eaty fe marlat (te. oly an: To nuknosn fon Yer lent Ao asus, NPY eo aad pense) ema wilt unknomn Nev <= Se wie Nelet NOV —Unknesn : Ts Uskeeny i a ck — Gash Hee ab Tend A cod, yey c~ - 7 Nev oe T= Bekreey Gee tan ur NPV or flo C= Urkneta yee unl ue RQ Agwerer > ag]. — BA oebe how eat gt KOR EAU pajedk a _ Exomple. _ — Camel en Yee Bllouiy pede be urderBieen by © uss {AR pelbed Year ° \ 2 3 4 Cork Hes (fosved) 2526? ge0o0 4ev00 5000 Cat pila) 177. | eho c (tee Awval and emer VeVv = Sec Cade Scanned with ConSconnerOo = Sct en 2154 are: © — \mlexo00 + accco 4 dooee___ 49002 | Cry OE (ey 9%, occoe = Veoren- 84 4, vlan ©) eh ee rie *Grie) west eo | t\cowoe = FR636- @ EAeb Fad cabseboh valor oe 2 Figures ® Loo rofe [Soo = BP) (D__ loveve = 98426 = | S64 WSom_ ve aks. absolsles , Nae? go] + 34 = ec @iavlah able em \ ot) dowete te the He, aol O37 = NGS © AAW atic pe sell \stoags 1549 Kival Scanned with ConSconnerAM ey _ 0: b3 RIGS [b-068 = [5.27 20% lott of capil NB! Accopt tay Wlan 1H ih gett Heo fhe vd + copl a + | Ay pittatton 2 Oddhelt as axely, Jee it Yer Shot tore, | jae oot aver EE” Nong Veer jabereot - \P ts project tas eypetted th a shot bem md — Yam fra naee \oler charge ib el affect The cok of capital, uM euly om fot dablenc, {QD \e0-_{s_Tenpossiae qe nen = Convert on~| oth ae We vill Qed res Whole. \ee. | ‘Near a - faay) 2 | cock Pious (ecw, Rowee- (200ee) Goov> pa AS: 87 at24d Scanned with ConSconnerCansctlen th Oe bas Deere only Mem an | reader \nyesk only once ee geek \b ney Waren (pe accept [refed and Vev wajedlaceegt « Comlticg earths beer Hey ont 1RR- ay \n ame costs cs fy wnvtval te uae perils vlc dither fan ice cenfurchig yeorl® pang lrepptr - 4 len peje lhe pen -nermal cou fro (ee will realty mathe jae, | ay Werder Ser Vet cae of Conbteting aml OPT YOY heme it meeps not relutre assumelvens ond beter indice ct prfteblits.- Won NEY ried Me gotten, DEvELDP ERS ReOQep. iv orker 4 da. vleteer Wee cebeme \s feacibli howl be nec. prtpart a duper be dg ven will been previds one st te ler AMesing gus. Pou med chedld be pard foe tre land? WWhret will be ee nex Udey ot? Pd Scanned with ConSconnerelu Scanned with ConSconnerSe QD Cot 4 Bling | Cendrecien Cost Ps ao be edabliled by approxi G Prfesmal fees Cfoh, Os and Engines) fee payable ee dengn , prtpara ion oh Frackr docs , Seperanda wend shee tran acl artavy eo: cc wey [aclede PE. & gpa-cted _ a4 tram. @ les and Aganey tees \womny tendtibete legal costs on purtherne ae prtperaliion estes eels 4 [eran | regittates fee vanes régulatery border ve =Ph, bee, Ne nally Wavges from 2-37 A Dov er 46% Dd Why ot ® Developed pris rey Ass fem jo-z0 F 44 L4OV as ax peted rbrn + tee clevalepe- Scanned with ConSconnerThs pe feo mag a\lowe f depend oy —Masig cost oa Falirag ret 5. | - (rebel ty leas the pepe ty bo» lovrgletven. . DAF Furs i Const: fi et fe the dhewlonec Aremery tee lupe teb Semele : : { Be roving mory _ fateeedk vate wll be pe Ce leg wring» We fond wv appsctonty a 6 Eteblohivg et dp frame fo bldug @ Nelh tte “dug cod for foe Fall contr ere| x {dearest (ect ae 6 Fell blag cet fe Lo - \f coral pond a \. tte reat harge - eb Y CL 0 | R | cb xt xt! —@ | | aTora) | Beeler Eeange RaeWebing Gd db free fo at GEM deg cat Ge tes Lal ata peaed X feat clage- Opa — Fetery = _ Ofbe - e Fatery, co SI cof = _ $B {Loeqose i SneereeX Lx g 08 A 2sseco BD Cot } bafery Qeildrg) = | aesence= | Locere © Qrofessmd f. VfoesaW2eX Of = ae = \Fs,008, v0 D cot 4 Finente of puilding q x \KoG = 7 928,00 - Coy x l= [9fococee rf oe zz 5 i cok = Scanned with ConSconner@ Afoetenng Col = boon, OF 0 Wh Ge RV qeae, DOO Vint Vitor Pu. = Vinh Velo = ce Voli 2 zqnene ZIG 20 060 Va\n ow A (se treso a) Ole . GD Stk cal J yooe,cve Coal of fayanree ho its ~ Cext yy “ PPOECOOO Y RK OLR y A Ooo @ Col qluillons — Gagonqoee Pils We 0762008000 @ CoA 4 frvants 4 a Walucg ¢ \ t © G92 Y 1981470, poo. =F KURA "92 Poor y "IK© Ob 6 RETRO OE Q | |® lems) au Hovey eo 3 Hvacjove | Th us| = Yeo ge 49, 900 “et | | feof You es (how (wenn olgpuy) x ot Me . 4=(Tepco,ee0 —| &600%e0) YF Yea VO ef 14129, t 7 go = Goosepoe X 4122, YON = BST 4e0000 Foi = apy Tet Pals = Vs 74ooee? — 7e224 Q000 Prick = e7seoses {aulery Ys ayer _ pehiiable tompara Ke she dine Seaee is dee Ke lle oltre ts dy a ys . Scanned with ConSconner> PAYBACK METHOD, —Pay bacle potted fs ta erv bab er 4 invades tileser bub vowe Halers ome ik meg Widely wsed, heat \ Ms fined Qo {ke peuod tb Rleas f Do thuestmenb — puree shfrlet (foveneta| eof f yetever th joihr| copitd _ ovblay y'o fal ~The p asbadte wetked “pres altra chive 1 bei bis © Ere nal Sten ple te Apply . Sine {b fakes ch yer (Wh aecount « o |k lelps ete 4 ComPansis pet Cosh int telarly ad vastagees rr Liquidity ein) to tres = LWlealenssaes. o\b Sas LL Remud long tiem rr lil iy cine WN ker ye cqecoont oan fixer beyond the payback period © Difolk Ae make Compariss os bh, pak with ais \the expeclane eo uly — Scanned with ConSconnerYau cate ton, oDeta neh tonrrdse twoh fee of&e Re Gade pev'e d z o Does web Lerniter Time value for Money, Example A dient her G4 glen te jnvet me 3 prjeb. exe A @ = oli - Exge lite ° ©0000 = {po07e \4e000 \ueome \ \poeo BOOS Goooo \uwor Q Qp000 ggo00 = S000 (worm a 4Ov0e 25000 Qgoood \vtore 4 20000 5t00D A BOOO \noome s Qo0CcO 50008 25000 ae 4 Xe sooo ave 0008 gepoe igh aentts = 49° °° = 7? = gevoo = Trostoa} r ow nefeyabe fe feed A <= a Rycas and Fenn Exouggh & spulativr Aaveloper is Conniden'ny alauy a sb he Hee onsite. 4 40 Aelaklud fous. Ns allfny pe A fe levers {5 65000 Ths cob A the land inclodye J} lesal clears 5 1000 Te devel oper requil res ag pope 4 167 of fee Scanned with ConSconneryop. Whet i: the allousble queen Fe batldirg Costs? Cenarion peed 2a, Legal agents Adwetising 2% A gov, Lekeret cate aad. and As. Cos GE Cs = A5d000 Cet J Amencing SH, Cpe = C ste’ — |Ste00 2KOAZ = BREE? Gt 4 Boilding Cy = Ch Ce A Lnoneiys buildies Cop = Ch yee", Lu = Ct y2x ON uv = O27 lesa agent: avd advedonegd = a%4 typy . gpv 1 @ G500m OS Robb = (eh apy Scanned with ConSconner 4OXES°00| | Pet = O'|G% 4oy 65000 | ov = Toot + Pre | | Test = Gov - folie | = _65000X 40 — 0:|EX4o XGSd00 | _ = 8184000 : | Vet = Cotes +o, ee gh +l ss. | A400 SH \Sco00 4 BEG + Ch Ol2Gr 7 503 X gd XY 6 5000 R[ey0oo = 2b 4O0e FJ >2CL, Ch = R18 foe — 26 yooo 7 re ! CLs 1714, 28514 | Alousable Qs ovuth for hulleiine bots 1% VWN4 285 0 7) 4 Scanned with ConSconner> yore PRrovecy cAry Flen- | sate weed fen cor be eee t lle KequvenrseS cig f apse = We ote Gmpany cel = \rewen Neluation and Per Ch flow fetes. . Cade dew remns frew of money fom bet - 7 (Cetretier er | \s We ten od cb ie Company , HAs The Cempony. fen dpmensy je or We Lom pauy eceturs cach tin tadibea> ot projet pay reeb | \b also fpends wines payed ahh Precenty, \abor mores eq ripest at ohne e wots) syns. Pa timiry s} a arch Flow is Sey angst Tes vel} be a haw Yas br aubitlons at de teetve A ak permet and acbally Reidy, (Bo Tracer fort Tar & « neve f. coal Pow Fartroshiy, : Scanned with ConSconnerae Lempants Liecast ee tosh Cvcee oly a fee pits abead tay 2 Guay TT _ ts net adequate anf does nb Leek cere acerdl @hiad, - - a ae beeen peyebs . (.of eon ew [heer ooh Lew ee forteodt thovld pa 7 sete Vs Par ahead a — [ele uh en ceredh Ne Acq wie Gye ech foe) end bow mock acl & tot ; - 4 Ter on Fader: Afbeting Cosh flow Fer ntieg | 7 | ar eratver ch wens pojeb — Pofst meg (yn On these pejeds _> VPeteutien Conditions —_ Delay wy recetuing Daryn From chet CE are ener ft suppliers, plat | Wrers and whbtontmcen, ja Phosing fh projets Ie fee Company Lrvdload | Scanned with ConSconner—> Late paltlemond d\ ostitand ny dams. — Crit aie kk caoh flow Pexcottg , Gort cousty art Breoke and fees font at probably wing amp velo anf vied worth | Kee elf vt. | ar - | he Argunedt (h cqually applicalle de | AMreonatvag ' whe ts Bsberhsl ly A Comptiny't Fons. Cook, Glos foc maty in, like pay ftom Sting [Re reat df caluslatrens pared 009, fhe (nbermetivs avallally ab tee Wns, | and a fers assemph'ors ge fo Naat vet }( hageer- \A, an Ss Whely | ter date collected te Me ke cheer or BR atomplione ollie, {te . ove cont un l( be \n secrec axel a new Fort col \s reqaired, Tes, Gove costs, ark tequterd 4 “eee query be and iw fort conser every mst te 5 y Scanned with ConSconnerLevels IF Cork feu Terrenliig | Contracine need fe undefala cmh for forcemting te Kaw (evel q! A edimaiag — and teindiccy Sage: | = Apptvren fo step be prjede 7 = Datister co flly Calenlde foccoust heme. on projed defau'ls by aes. bi items Re be adtuibes on thr pte \Eader bar-—chatt er nofervte. — Reus’ ; 3 = company eo ae toca : | Ber \nvalveo 099 4 Galing Cosh fous | all adive ope ds , 4 i Vwi dons. regulady ~euery “smnenths 4 | or seers _ Scanned with ConSconner