CHAPITRE COLLECTIF: ANALYSE ET EVALUATION DES PROJETS D'INVESTISSEMENT
COLLECTIVE CHAPTER: ANALYSIS AND EVALUATION INVESTMENT PROJECTS

Summary/Abstract: The investment project is not only the financial description of its desired final state, but essentially what makes it possible to reach this state by joining the existing reality and the objectives to be achieved. The profitability of the project is the central point of its evaluation, before or after the financing. But the mistake to avoid is not to dissociate the criteria for choosing or accepting projects, from the decision to carry out, or the choice between projects. Traditionally, the selection criteria are classified according to a typical environment. In a simple or certain future, characterized by a single forecast, it is possible to consider technical or commercial variants that can be qualified and considered as sub-projects. In the complex or uncertain future, a multitude of combinable eventualities will be considered, concerning the feasibility and profitability of this project. The study of the criteria for choosing investment projects will make it possible to select projects among other competitors, but on condition that certain guarantees are taken into account. Investment projects must be comparable in terms of profitability, discounted profit, lifetime and size since in their informal absence, the interpretation of conflicting criteria becomes much more complex.

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