Nguyễn Ngọc Phan Văn

1. DAp AN DE THI THAM DJNH DA DT CONG ( D:;ti hoc H~ Chinh quy)
MA. DE 040515001
Cau 1(2d)
Du an cong: Du an cong la nhtrng du an do Chinh phu tai tro (d.p von) toan bQ
hay mot phan hoac do dan chung tv nguyen gop v6n bang tiSn hay bang ngay cong
nham dap irng moi nhu du rnang tinh cong d6ng. Nhtrng du an rna Chinh phu hoac
chinh quyen dia phuong dS xu~t va keu goi tai tro quoc t€ hoac nhirng du an do mot
dan vi kinh doanh thuc hien nhung neu huang d€n viec nang cao phuc loi cong cong
cling duoc xern la mot dir an congo
Nhir vay, co th~ nhan dien tinh ch~t "cong" cua mot dir an a muc dich cua no, chinh
la du an huang dSn viec tao ra nhtrng loi ich cong d6ng.
~ SO' dB quy trinh thim djnh dl! an theo quan di~m ciia Jenkins va
Harberger:
Xac djnh dl'an
Giai do~n 1: Nghien clm tiSn khAthi
Giai do~n 2: Nghien clm khAthi
Giai do~n 3: Thi€t k€ chi ti€t
Giai do~n 4: Danh gia dl! an
Giai do~n 5: Danh gia sau dl! an
TCDN_TDAC_DHCQ_B3 TRANG lj3_MD:040S15001

2. Cau 2: (Sd) Dan vi tinh: USD
1) Tinh thai gian thu h6i v6n va IRR cua hai du an:
Nam 0 1 2 3 4
DvanX -10.000 6.500 3.000 3.000 1.000
DTLuyk~ -10.000 -3.500 -500 2.500 3.500
DvanY -10.000 3.500 3.500 3.500 3.500
DT Lfiy k~ -10.000 -6.500 -3.000 500 4.000
* Thai gran thu hOIvon:
PPx =2+ 500 =2,17nam
3000
3000 _
PPy = 3+-- = 2,86nam
3500
* Tinh IRR:
NPV = -10.000 + 6.500 + 3.000 + 3.000 + 1.000 = 0
x (l + IRR) (1+ IRR)2 (l + IRR)3 (1+ IRR)4
Chon IRRJ = 18% ~NPVJ = 4,709
Chon IRR2 = 19% ~ NPV2= -140,404
~ 1RRx =18%+ '1 IX(19%-18%) =18,03%
4,709 + -140,404
NPVy =_10.000+3.500x1-(l+IRR)-4 =0
IRR
Chon IRRJ= 14% ~NPVJ = 197,993
Chon IRR2= 15% ~NPV2= -7,576
=> IRR = 14% + 197,993 x (15% -14 %) = 14 96%
y 197,993+1-7,5761 '
2) a) Xet tnrong hop hai du an dQcI~p:Ta thay ca tieu chuan thai gian thu h6i v6n va
tY su§.thoan v6n nci bQcua hai dir an dSu thea man diSu kien rang buoc: PP < 3 nam
va IRR> 12% . Vi v~y : ca hai du an dSuduoc ch§.pnhan,
b) Xet tnrong hop hai du an loai tnr: Vi PPx < PPy va IRRx> IRRy nen chinh phu se
Iva chon dIJan X, loai bo dir an Y.
-TCDN_TDAC_DHCQ_B3 TRANG 2j3_MD:040515001

3. Diu 3: (3d) Don vi tinh: ti dang
a) Dong tien rong thea quan diem chu d§.uillva quan diem quoc gia
Quan adm Chit adu nr Quoc gia
Ky hieu (A) (B)
Nfun 0 1 0 1
Doanh thu 2000 2000
Chi phi van hanh -500 -500
May, thiet bi -3000 2000 -3000 2000
Trq gia 200
Thu€ -200
Yay 1000 -1000
Loi nrc -100
Ngoai tac 500
Dong tien rong -2000 2400 -3000 4000
b) Xac dinh NPV:
NPVA = -2000+ 2400 = 51,28
1,17
NPV = -3000+ 4000 = 418 80
B 117',
Theo tieu chuan NPV thi du an dtroc chap nhan 6 ca hai quan diem.
TCDN_ TDAC_f>HCQ_B3 TRANG 3j3_Mf>:040515001