基于NPVR或N/K的独立型投资方案的选优

Optimization for the Independent Investment Projects Based on NPVR or N/K

在资金有限的情况下,为保证取得最大的经济效果(即实现净现值最大化),从各备选的独立型投资方案中找出最优的方案或方案组合,解决这类问题最主要的方法是互斥化法、净现值指数排序法(NPVR排序法),和双向排序均衡法.本文分析了三种方法的优缺点,对净现值指数排序法进行了改进,以保证其能够得到最优组合.基于NPVR和N/K两个指标的相关性,又提出了改进后的基于N/K选优的方法.改进后的基于NPVR或N/K的独立型投资方案的选优方法准确且简便实用.

In a situation with limited fund,in order to guarantee the greatest economic result under the premise(namely realizing the max net present value),the problem finding out the optimum project or project group from all the independent projects is called the problem of selecting the excellent independent capital project.The main methods of solving the problem include mutually-excluding method,the Japanese economic engineering proportional method of bidirectional compositor and NPV Index.The advantages and disadvantages of these three kinds of methods are analysed,and the method of NPV Index is improved, so that it can promise to get the optimum group.Based on the relativity of NPVR and N/K,the improved method of N/K compositor is put forward.Using the two improved methods of NPVR or N/K compositor,they can be simple and convenient and are worth using in the reality.