常规业绩评价方法中存在的问题与解决方法

Problems Existing in the Conventional Ways of Achievement & Solutions

项目执行后，在进行业绩评价时，我们曾在投资预测与决策中使用过的净现值（ＮＰＶ）、内部收益率（ＩＲＲ）、净年值（ＮＡＶ）、投资回收期（ＩＲＰ）等以现金流量为基础的指标似乎被遗忘了，取而代之的是投资报酬率（ＲＯＩ）、资产周转率（ＡＴＲ）、权益净利率（ＲＯＥ）等一系列利润或收益性质的指标，这便违背了“预算和评价同口径”的最基本原则。而在本文中所提出的两个指标：现金流量回收率（ＣＦＲＲ）和剩余现金流量（ＳＣＦ）较好地克服了这种不足。

The indexes based on cash flow such as NPV、IRR、NAV、IRP,which used in the process of investment forecasting and decision,seem to have beenneglected when the achievement is evaluated after a project is executed.The substitutions are series of indeses as ROI,ATR,ROE etc.This way obviously contravenes the basic economic principle that budget and evaluation should have but one reguirement.I think the following two indeses,CFRR & SCF,may be able to surmount this deficiency efficiently.