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008			240701s2001 th uzm rtt 00| a1eng d
035			_a.b11830281
099		9	_aAIT Thesis no.ST-01-31
100	1		_aWong, Yik Hong
245	1	0	_aAdjusted present value-at-risk (APV-at-Risk) method in project investment evaluation
260			_aBangkok : _bAsian Institute of Technology, _c2001
300			_a83 leaves
490	1		_aThesis ; _vno. ST-01-31
500			_aA thesis submitted in partial fulfilment of the requirements for the degree of Master of Engineering, School of Civil Engineering
502			_aThesis (M.Eng.) - Asian Institute of Technology, 2001
520			_aConstruction-related project appraisal methods are under rigorous scrutiny after the 1997 Asian financial crisis. Conventional Discounted-cash-flow (DCF) methodology (either NPV or IRR) was perceived as the correct capital budgeting tool before the financial crisis. But the particular version of DCF that has been accepted as the standard - using the weighted-average cost of capital (WACC) - is now obsolete. Today's better alternative, adjusted present value (APV), is especially versatile, reliable and transparent. APV's power lies in the managerially relevant information it provides (all financing side-effects). It can analyze not only how much a project is worth but also where the value comes from. In light of its superiority, it is possible to develop a new project appraisal method that incorporates financial, political and market risks - APV-at-Risk - by synthesizing APV and dual risk-return methods. It is shown in this research that APV-at-Risk is the method of choice among others, and can provide more prudent and transparent project appraisal decisions.
650	1	0	_aIndustrial project management
650	1	0	_aRisk assessment
700	1		_aManavazhi, M.R., _eChairperson
700	1		_aOgunlana, Stephen O., _eExamination Committee
700	0		_aPennung Warnitchai, _eExamination Committee
710	2		_aAsian Institute of Technology (Partial), _eScholarship Donor
810	2		_aAsian Institute of Technology. _tThesis ; _vno. ST-01-31
856			_3Full-Text _uhttp://203.159.5.9/ait-thesis/detail.php?q=B09608
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