A company is usually founded by individuals striving to achieve their own or broader goals. Goal achievement related to a company＇s operations is called business or the business process. Human capital （man＇s work, ...A company is usually founded by individuals striving to achieve their own or broader goals. Goal achievement related to a company＇s operations is called business or the business process. Human capital （man＇s work, employees） is an important element of the business process, however its value is not disclosed on the assets side of the classical balance sheet. In order to shown assets, human capital has to be evaluated. Evaluation can be made in monetary or non-monetary terms. Non-monetary models for evaluating human capital include organisational and behavioural variables. These variables are not expressed in monetary terms, however, based on changes in their quality, one can assume the increased or decreased value of human capital within the company. The value of non-monetary models should not be underestimated, however monetary models are of greater importance. In this article, the most significant non-monetary and monetary models of human capital evaluation are discussed. Among non-monetary models the Michigan, Flamholz, and Ogan models are discussed. Among monetary models the replacement costs model, the opportunity costs model, the discounted wages and salaries model, and originally created dynamic model are discussed. A descriptive approach is used to identify the basic characteristics of existing models for evaluating human capital. According to these findings a different approach is taken in developing an original model. Dynamic model can efficiently overcome most of the practical problems and can be used as an appropriate estimator of human capital value expressed in monetary terms. The research limitations are that the dynamic model has not been sufficiently verified in practice. The model could prove to be directly applicable in those enterprises that would like to define the value of their human capital.展开更多
The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking ...The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking lanes, 404 km of road widening and shoulder sealing in various places between Brisbane and Cairns, 56 capacity focused projects and 16 flood immunity focused projects. The total projected capital costs of all projects proposed as part of the BHAP amounted to over 16 billion dollars. The program evaluation conducted, due to the short timeframes, lack of available data and strategic nature of the plan, has been ＂coined＂ a strategic evaluation. This paper focuses on the methodology applied to the projects proposed in the BHAP. A TMR designed project/program evaluation model （CARP （Concise Analysis of Road Programs） V1.0） was used to evaluate the majority of the proposed BHAP projects. The model produces streams of discounted benefits and costs of the projects and program using limited and incomplete data. The large scale of work and the close proximity of projects allowed for an integrated approach to the analysis, which considered the impact projects have on each other. The result of the program, if all evaluated projects are included, is a BCR （benefit cost ratio） of approximately 0.7l at a discount rate of 7%. If the less viable projects are removed from the program, the program can obtain a benefit cost ratio of greater than 1 with a sufficiently large number of projects remaining.展开更多
文摘A company is usually founded by individuals striving to achieve their own or broader goals. Goal achievement related to a company＇s operations is called business or the business process. Human capital （man＇s work, employees） is an important element of the business process, however its value is not disclosed on the assets side of the classical balance sheet. In order to shown assets, human capital has to be evaluated. Evaluation can be made in monetary or non-monetary terms. Non-monetary models for evaluating human capital include organisational and behavioural variables. These variables are not expressed in monetary terms, however, based on changes in their quality, one can assume the increased or decreased value of human capital within the company. The value of non-monetary models should not be underestimated, however monetary models are of greater importance. In this article, the most significant non-monetary and monetary models of human capital evaluation are discussed. Among non-monetary models the Michigan, Flamholz, and Ogan models are discussed. Among monetary models the replacement costs model, the opportunity costs model, the discounted wages and salaries model, and originally created dynamic model are discussed. A descriptive approach is used to identify the basic characteristics of existing models for evaluating human capital. According to these findings a different approach is taken in developing an original model. Dynamic model can efficiently overcome most of the practical problems and can be used as an appropriate estimator of human capital value expressed in monetary terms. The research limitations are that the dynamic model has not been sufficiently verified in practice. The model could prove to be directly applicable in those enterprises that would like to define the value of their human capital.
文摘The BHAP （Bruce Highway Action Plan） Program Evaluation was a momentous task conducted in most part by the TMR （Transport and Main Roads） CBA （cost benefit analysis） team. The evaluation included 189 overtaking lanes, 404 km of road widening and shoulder sealing in various places between Brisbane and Cairns, 56 capacity focused projects and 16 flood immunity focused projects. The total projected capital costs of all projects proposed as part of the BHAP amounted to over 16 billion dollars. The program evaluation conducted, due to the short timeframes, lack of available data and strategic nature of the plan, has been ＂coined＂ a strategic evaluation. This paper focuses on the methodology applied to the projects proposed in the BHAP. A TMR designed project/program evaluation model （CARP （Concise Analysis of Road Programs） V1.0） was used to evaluate the majority of the proposed BHAP projects. The model produces streams of discounted benefits and costs of the projects and program using limited and incomplete data. The large scale of work and the close proximity of projects allowed for an integrated approach to the analysis, which considered the impact projects have on each other. The result of the program, if all evaluated projects are included, is a BCR （benefit cost ratio） of approximately 0.7l at a discount rate of 7%. If the less viable projects are removed from the program, the program can obtain a benefit cost ratio of greater than 1 with a sufficiently large number of projects remaining.
