【摘要】：項(xiàng)目投資是企業(yè)發(fā)展的重大決策，這種選擇和決策，無(wú)論是擴(kuò)大再生產(chǎn)還是開(kāi)拓新市場(chǎng)，都將對(duì)企業(yè)發(fā)展起著關(guān)鍵性作用。房地產(chǎn)項(xiàng)目投資決策分析是房地產(chǎn)企業(yè)管理中最重要的決策，對(duì)企業(yè)的盈利能力、資金結(jié)構(gòu)、償債能力以及長(zhǎng)遠(yuǎn)發(fā)展都有著直接影響。隨著我國(guó)市場(chǎng)經(jīng)濟(jì)的快速發(fā)展，市場(chǎng)競(jìng)爭(zhēng)越來(lái)越激烈，投資主體和投資渠道趨于多元化發(fā)展態(tài)勢(shì)，如何有效利用和優(yōu)化配置資源，提高投資決策水平，成為當(dāng)前房地產(chǎn)開(kāi)發(fā)企業(yè)經(jīng)營(yíng)發(fā)展中的突出問(wèn)題。因此，能否做出正確的項(xiàng)目投資決策是房地產(chǎn)企業(yè)經(jīng)營(yíng)發(fā)展的關(guān)鍵。 房地產(chǎn)開(kāi)發(fā)具有的投資大、周期長(zhǎng)、地域性強(qiáng)、易受國(guó)家政策法規(guī)影響的特點(diǎn)，使得房地產(chǎn)投資活動(dòng)充滿風(fēng)險(xiǎn)和不確定性，房地產(chǎn)企業(yè)作出投資決策前必須對(duì)擬建項(xiàng)目的可行性進(jìn)行系統(tǒng)的分析和論證，為企業(yè)決策提供科學(xué)依據(jù)。房地產(chǎn)開(kāi)發(fā)項(xiàng)目可行性研究決定了一個(gè)開(kāi)發(fā)項(xiàng)目是否應(yīng)該投資，以及提供如何投資取得最佳效益的方案。一個(gè)好的可行性研究報(bào)告應(yīng)該能評(píng)估開(kāi)發(fā)項(xiàng)目的潛在風(fēng)險(xiǎn)和收益，評(píng)價(jià)經(jīng)濟(jì)社會(huì)效益，預(yù)測(cè)項(xiàng)目的成功率以及是否能給企業(yè)帶來(lái)期望的收益。 本文借助可行性研究這一理論工具，選擇筆者實(shí)際工作中的一個(gè)現(xiàn)實(shí)案例，對(duì)天元置業(yè)公司擬建設(shè)的XR房產(chǎn)開(kāi)發(fā)項(xiàng)日進(jìn)行可行性分析，試圖將MBA所學(xué)理論知識(shí)與實(shí)際聯(lián)系起來(lái)進(jìn)行研究論證。本文屬于應(yīng)用型論文，綜合運(yùn)用了定性分析和定量分析相結(jié)合、宏觀分析和微觀分析相結(jié)合、靜態(tài)分析和動(dòng)態(tài)分析相結(jié)合等論證方法，重點(diǎn)分析了XR開(kāi)發(fā)項(xiàng)目的市場(chǎng)可行性、財(cái)務(wù)可行性和不確定性。同時(shí)，側(cè)重對(duì)項(xiàng)目的外部環(huán)境，項(xiàng)目區(qū)域市場(chǎng)狀況，項(xiàng)目本身優(yōu)劣勢(shì)進(jìn)行深入分析。并在此基礎(chǔ)上，，預(yù)測(cè)項(xiàng)目經(jīng)濟(jì)上是否合理，財(cái)務(wù)上是否盈利，風(fēng)險(xiǎn)上是否可控，最后得出項(xiàng)目的可行性結(jié)論，以期能夠?qū)R項(xiàng)目的可行性做出不同角度的分析，為天元置業(yè)公司的項(xiàng)目投資決策提供參考依據(jù)，同時(shí)也為其他房地產(chǎn)企業(yè)的經(jīng)營(yíng)管理，特別是開(kāi)發(fā)類似項(xiàng)目的投資決策提供一種借鑒方法。
[Abstract]:Project investment is an important decision for the development of enterprises. This choice and decision, whether expanding reproduction or opening up new markets, will play a key role in the development of enterprises. Investment decision analysis of real estate projects is the most important decision in the management of real estate enterprises, which has a direct impact on the profitability, capital structure, solvency and long-term development of enterprises. With the rapid development of market economy in our country, the market competition is becoming more and more fierce, the investment main body and the investment channel tend to diversify the development situation, how to effectively utilize and optimize the allocation of resources, improve the level of investment decision-making, It has become a prominent problem in the management and development of real estate development enterprises. Therefore, whether to make the correct project investment decision is the key to the management and development of real estate enterprises. The development of real estate has the characteristics of large investment, long period, strong regional character and easy to be influenced by national policies and regulations, which makes real estate investment activities full of risks and uncertainties. The feasibility of the proposed project must be systematically analyzed and demonstrated before the investment decision is made by the real estate enterprise, which provides a scientific basis for the enterprise to make the decision. The feasibility study of a real estate development project determines whether or not a development project should be invested and how to invest to obtain the best benefit. A good feasibility study report should be able to evaluate the potential risks and benefits of the development project, evaluate the economic and social benefits, predict the success rate of the project and whether it can bring the expected income to the enterprise. With the help of the theory tool of feasibility study, this paper selects a practical case of the author's practical work, and analyzes the feasibility of the XR real estate development project to be built by Tianyuan Real Estate Company. This paper attempts to combine the theoretical knowledge of MBA with the practice for research and demonstration. This paper is an applied paper, which combines qualitative analysis with quantitative analysis, macro analysis with micro analysis, static analysis with dynamic analysis and so on, and analyzes the market feasibility of XR development project. Financial viability and uncertainty. At the same time, the external environment of the project, the regional market situation of the project and the advantages and disadvantages of the project itself are analyzed in depth. On the basis of this, we predict whether the project is economically reasonable, whether the project is profitable, and whether the risk is controllable. Finally, we draw the conclusion of the feasibility of the project, in order to analyze the feasibility of the XR project from different angles. It provides a reference for the project investment decision of Tianyuan Real Estate Company, and also provides a reference method for the management of other real estate enterprises, especially for the investment decision of developing similar projects.
【學(xué)位授予單位】：湘潭大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F299.233.4

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