房地产投资财务分析

房地产投资财务分析是房地产企业经营分析的重要内容.房地产项目财务分析是在房地产市场调查与预测,项目策划,投资、成本与费用估算,收入估算与资金筹措等基本资料和数据的基础上,通过编制基本财务报表,计算财务分析指标,并与有关标准进行比较,对房地产项目的财务盈利能力,偿债能力和资金平衡能力进行分析,据以判别项目的财务可行性或从中选择最佳方案.这里详细地阐述了房地产财务分析的目标、方法和指标,为房地产投资的财务分析提供了一些依据.     

开发商拟建项目建设费用估算谈

房地产开发商做拟建项目建设费用的估算,主要目的之一是为项目的实施筹措资金。估算费用的首要功能就是控制项目建设成本开支。本文结合实际,从估算费用的资料收集、费用计算以及报审批准几个方面做了论证,以期达到一方面为项目的顺利实施、估算金额留有余地;另一方面,估算费用额计算有根有据,不高估冒算的目的。     

公路建设项目财务评价中对贷款利息的处理

从公路建设资金的来源和用途等对公路建设资金进行了分类,探讨了公路建设投资估算中对贷款的计算方法及其不足,并针对性地提出了计算贷款及贷款利息的处理方法,从而更准确地对项目财务进行评价,促进项目资金的尽快落实。     

房地产项目开发中的土地成本控制

指出我国城市房地产开发项目土地费用的正确估算是房地产项目开发成本确定的重要内容,从我国城市房地产业发展的需要出发,对我国城市房地产开发项目土地的成本确定以及土体使用费、征地拆迁费、场地开发费、土地税收和管理费的估算原理进行了全面的探讨。     

基于熵权TOPSIS法的房地产项目后评价模型研究

基于当前项目后评价理论,从财务、销售、客户、工程等经济效益和社会效益方面设计房地产项目后评价的指标体系,利用熵权TOPSIS法构建房地产项目后评价模型,并选取某品牌房地产公司的四个已完房地产项目进行评价。综合而言,应用熵权TOPSIS法可解决其他后评价方法确定指标权重主观性过强的问题,也可利用TOPSIS法对多个房地产项目进行评价和排序,从而得到更好的评价效果。     

投资估算传统方法与现金流量折现法比较研究

结合实际案例,对假设开发法投资估算的原理、程序及传统方法和现金流量折现法的区别进行了探讨,研究了资金时间价值对投资估算的影响,为准确进行房地产开发项目投资估算提供了依据。     

基于相似类比修正定价模型的楼盘均价估算——以重庆市九龙坡景瑞西联社为例

本文将基于相似分析的价格修正测算方法运用于楼盘项目均价估算中,通过分析影响楼盘项目均价的特征因素指标,根据重庆九龙坡区类似楼盘的具体情况,确定了特征指标的评价值数据,选择与目标项目相似度最大的前几个典型样本项目,以相似度值构造权向量,最终得到项目均价。     

浅议房地产项目的财务分析

在对房地产项目财务分析的目的、指标与方法介绍的前提下,从基础财务数据的确定、基本财务报表的编制、进行财务分析、进行不确定性分析和进行方案比选分析五个方面详细阐述了房地产项目的财务分析过程,以便判别项目的财务可行性。     

房地产开发项目决策要点分析

本文通过对天津某房地产公司拿地前的实战决策分析,总结了房地产开发项目的决策要点和分析方法,尤其对房地产开发项目市场预测及目标市场定位,规划条件分析与建设方案、投资估算、资金筹措与财务分析、土地获取价格上限估算、风险分析等部分进行了重点分析,为房地产开发项目决策和银行贷款提供全面而科学的依据。     

浅议房地产项目成本控制与管理

房地产开发为一项综合性经济活动,投资额大,建设周期长,涉及面广,帮助使其达到预期的经济效果.方法:针对成本管理过程中存在的问题进行分析和探讨,通过对在建房地产项目进行可行性研究,从多方面来控制成本.结果:如果能够在房地产开发项目投资与成本费用估算、设计阶段的成本管理、施工阶段的成本管理和销售阶段的成本管理这几方面合理有效控制好,总体上可以达到掌控房地产项目的总成本.结论:作为房地产公司的管理人员在开发过程中的决策应建立在科学而不是经验或感觉的基础上,应从理论上掌握控制成本的方法,为实践工作提供理论上的帮助.     

基于粒子群算法的变电站工程造价投资估算模型

安徽电网变电站工程近年发展迅速,但是由于工程复杂,影响因素多,增加了变电站工程造价管控的难度,使得变电站工程造价节余率过高,降低了电网公司的投资效益。为了有效控制变电站工程概算,有必要创新性展开变电站工程投资估算工具的研究。基于粒子群算法,深度挖掘安徽电网变电站工程 2010~2015 年的历史造价数据,构建变电站工程投资估算优化模型,分析各种因素对安徽地区变电站工程造价的影响,提出合理控制工程造价的手段。通过典型案例的优化计算,验证了变电站工程投资估算优化模型的可行性,为进一步在安徽电网公司推广奠定了基础。     

浅谈民用高层建筑方案投资估算法

民用高层建筑方案投资估算结果对工程建设投资具有实际的指导意义,本文介绍两种高层建筑方案投资估算的初浅方法,供有关专业人员参考。     

基于灰色理论的市政排水工程造价估算方法

结合市政排水工程的特点,针对传统的工程造价估算方法的局限性,用灰色理论估算模型对排水工程造价进行了估算,为市政工程造价估算提供了有效的方法。     

A contingency estimation model for software projects

A contingency estimation model for software development projects is presented. The proposed model considers the estimated cost and the risk of software projects to estimate contingency resources; hence, contingency estimates are correlated to the cost and risk of software projects. The model uses a generic probabilistic representation of the estimated cost; hence, it can be deployed with any project development environment and provides a flexible choice to software managers. Furthermore, the proposed model considers the risk tolerance of software organizations to estimate the contingency and helps to abate the maximum impacts of risk events within the risk tolerance. The proposed model is scalable to a portfolio of software projects. The model produces sub-additive contingency estimates which is essential to optimize a software project or a portfolio of software projects. The results of a case-study show that the contingency estimates are comparable with the actual contingency resources needed for the development of real software development projects.     

合理控制公路工程估算的思考

通过对估算与概算的比较,分析了目前造价体系下估算指标的造价水平、材料价格变化对估算的影响等,并提出了合理控制估算的方法,对公路工程估算的合理控制有一定指导意义。     

Simulating the impacts of policy scenarios on the sustainability performance of infrastructure projects

Sustainable development principles have been implemented in various sectors including the construction industry since it was published in the Brundtland Commission Report in 1987. In line with this development, implementation of infrastructure construction projects has been given particular attention as they have more significant impacts on the environment, society and economy. It is considered that proper development and operation of infrastructure projects such as highways can contribute significantly to the mission of sustainable development. However, there is little existing work to provide appropriate methods to assess the sustainability performance of infrastructure projects. The study described in this paper introduces a simulation model, using system dynamics principle, to evaluate the sustainability performance of highway infrastructure projects during the construction and operation stage. The study introduces the indicators which measure the sustainability performance of highway projects and identifies the dynamic factors affecting indicator performance by referring to the relevant feasibility studies of highway projects. A real highway project is presented to demonstrate the application of the simulation model in evaluating the sustainability performance of the project. The case study is used to explore the solutions for improving those poor sustainability performance areas through policy scenarios.     

An option pricing-based model for evaluating the financial viability of privatized infrastructure projects

Privatized infrastructure projects have to demonstrate their financial and technical viability before they are undertaken. Although it is relatively easy to demonstrate the technical viability of an infrastructure project, the evaluation of the financial viability of a privatized infrastructure project is complex and challenging, mainly because of the uncertainties involved due to the project's scale, long concession period and complexity. Traditional methods, such as net present value (NPV) analysis, fall short in reflecting the characteristics of privatized infrastructure projects and the risks involved. This paper presents an option pricing based model, the BOT option valuation (BOT-OV) model, for evaluating the financial viability of a privatized infrastructure project. This quantitative model considers the project characteristics explicitly and evaluates the project from the perspectives of the project promoter and of the government when the project is under bankruptcy risk. Moreover, the model can evaluate the impact of the government guarantee and the developer negotiation option on the project financial viability.     

国际标准和欧洲规范中抗力设计值推断方法评述与改进

区间估计法和贝叶斯估计法是国际标准ISO 2394:1998中根据试验结果推断抗力设计值的重要方法，但两者的推断结果并不一致，会导致设计人员在选用推断方法时产生疑虑。欧洲规范EN 1990:2002中仅选用了其中的贝叶斯估计法，但与一般的贝叶斯估计法不同，它未设置统计推断的置信水平，无法明确判定推断结果的信任程度。另外，对于抗力服从正态分布的情况，两个标准均未提供变异系数已知条件下抗力设计值的推断方法，难以更好地满足实际推断的需要。为解决这些问题，针对抗力服从正态分布和对数正态分布的情况，利用考虑可信水平的贝叶斯估计法提出新的抗力设计值的推断方法，该方法直接以未知参数的联合后验分布为依据，与推断依据有着更直接的联系，其推断公式和结果与区间估计法的完全一致；通过对比分析，揭示了国际标准ISO 2394:1998中贝叶斯估计法与区间估计法不一致的原因；同时，利用区间估计法提出了变异系数已知时抗力设计值的推断方法。新方法明确判定推断结果的信任程度，并可更好地满足实际推断的需要。     

Key performance indicators and assessment methods for infrastructure sustainability—a South African construction industry perspective

This paper identifies key performance indicators (KPI) for infrastructure delivery and maps computational methods required to achieve sustainability objectives in developing countries. It builds on previous research that developed taxonomy of infrastructure sustainability indicators and computational methods, to propose an analytical decision model and a structured methodology for sustainability appraisal in infrastructure projects in a developing country like South Africa. The paper uses the ‘weighted sum model’ technique in multi-criteria decision analysis (MCDA) and the ‘additive utility model’ in analytical hierarchical process (AHP) for multi-criteria decision-making, to develop the model for computing the sustainability index—a crisp value for evaluating infrastructure design proposals. It discusses the development of the KPIs that are encapsulated within the analytical model. It concludes by discussing other potential applications of the proposed model and methodology for process automation as part of integrated sustainability appraisal in infrastructure design and construction in developing countries.     

高校各类基建工程项目投资估算参考指标体系研究

基于我国省属普通高校基建投资估算没有统一方法的现实,在研究的基础上采用概算指标法与类似工程预算法相结合的估算方法,建立高校基建工程项目的投资估算参考指标体系。并以广东省普通高校实验楼工程为例,实证计算出拟新建实验楼的投资估算值。