Application of the hottest investment decision the

2022-08-21
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Introduction before the 1990s, the total cost of construction machinery and equipment generally accounted for 12% - 13% of the project investment, and the construction period was long. With the rapid development of construction, the total cost of equipment accounts for an increasing proportion of project investment, with shorter construction period and higher quality requirements. For enterprises that can use thin-walled products in road construction, once a project is successfully bidding, they must configure a full set of equipment in the shortest possible time to meet the requirements of project quality and construction period. How to reasonably configure the equipment, improve the utilization rate of equipment, reduce costs, and promote the reasonable value-added of fixed asset investment has become one of the urgent problems to be solved by the decision-making level of road construction enterprises. The investment decision theory provides a more scientific and practical method for the rational allocation of equipment in road construction enterprises

the so-called investment decision-making theory is a process of using scientific theories, methods and means to analyze the feasibility of several schemes or single schemes and make a clear judgment on the feasibility of selecting the best scheme or single scheme from several schemes in order to achieve the expected goals

when the road construction enterprises win the bid for the engineering project, the first consideration is how to configure the equipment, whether to rent or purchase the equipment. For this, the investment decision-making theory is used to analyze as follows. 2. The decision-making of whether to update equipment there are two main decision-making and analysis methods for whether to update equipment: one is to establish a reasonable renewal period of equipment; The second is to use the NPV analysis of the difference to compare the cash flow generated by using the new equipment and continuing to use the old equipment at the same time, so as to decide whether to update the equipment. 2.1 reasonable update period analysis 2 according to the analysis of the consulting company reportlinker 1.1 reasonable renewal period and its calculation

road construction enterprises need to pay certain expenses every year to maintain the normal operation of equipment, mainly including depreciation of fixed assets and annual operating expenses

the depreciation rate of fixed assets remains unchanged under the planned economy. In order to adapt to the dynamic performance characteristics of prices under the conditions of market economy and maintain the value of machinery and equipment, it is more reasonable to adopt the dynamic rather than individual enterprises into a zonal life depreciation method that is completely different from the past

the annual operating cost consists of operation cost and maintenance cost. Generally speaking, the service life, average annual depreciation and annual operating expenses of equipment have the following relationships: the service life of equipment is short, the average annual depreciation increases, and the annual operating expenses will decrease year by year; On the contrary, the service life of the equipment is long, the average annual depreciation is reduced, and the annual operating expenses will increase year by year. The minimum period for adding these two expenses is the reasonable renewal period of the equipment

after the equipment is put into use, with the increase of service life, its technical indicators will decline, resulting in the deterioration of the equipment, and the annual operating cost of the equipment will increase. If the increased degradation amount is equivalent (i.e. increases linearly), set its value as λ, The degree of degradation in a few years is n λ, The annual operating fee will change from Q in the first year to q+ (n-1) in the nth year λ; The average value of annual operating expenses in N years is; If K0 represents the original value of the equipment and l represents the residual value of the equipment, then the annual average value of the depreciation amount of the equipment is, then the annual cost C of the enterprise to maintain the operation of the equipment should be (1) to minimize the annual cost, then both sides of formula (1) derive N and order, then the reasonable update period of the equipment is calculated as (2) this is a reasonable update period without considering the time value estimation of the fund. If the time value of the fund is considered, Then the annual cost is expressed as follows: (3) where: K0 - the original value of the equipment

l - year end residual value of equipment

q - annual operating expenses

λ— Annual deterioration value

i - return on capital

n - service life of equipment

2.1.2 example analysis

a road construction enterprise purchases an imported paver, the original value is yuan, the operating cost at the beginning of the period is 947000 yuan, and then increases by 56800 yuan every year. The residual value of the equipment is expected to be 355000 yuan. Regardless of the time value of money, whether the enterprise should update its equipment in the eighth year

according to formula (2), there is g24.gif (768 bytes)