Investment management- a study on asset investment projects.doc

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  • Publié le : 24 mars 2011
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Table of contents


Introduction 6
Chapter 1. Investment management- theoretical aspects 1
1.1. Making the decision; the investor as a business man 2
1.1.2 The investor’s roles 5
1.2. The investment management as a process 6
1.2.1 Planning the investment 6
1.2.2 Implementing the investment plan 11
1.2.3 Evaluation of the investment 15
1.3. Investment risk 24
Investment Risk #1:Business Risk 25
Investment Risk #2: Valuation Risk 26
Investment Risk #3: Force of Sale Risk 26
Chapter 2. European Grants 28
Introduction – short history 28
2.1.Legislation, definitions and objectives of the structural funds for Romania 31
2.2. Institutions regulating the management of Structural and Development Funds in Romania 33
2.3. Application process for European Grants; risks andirregularities 43
Chapter 3 – Case study: The investment project for a touristic pension at Poarta Raiului 48
3.1. Introduction – description of the Project taking place at Poarta Raiului 48
3.1.1 Ownership Dispute 48
3.1.2 The County Council Project for Poarta Raiului 49
3.2. Terrain auction, contract stipulations and legal aspects 52
3.2.1. The auction 52
3.2.2 The legal terms of thecontract 53
3.3. The investment project – Business plan 56
Table 3.3.1 “Administrative information of the applicant” 57
Table 3.3.2 “The projected work-force” 64
Table 3.3.3 “The Action Plan for the investment project” 66
Table 3.3.4 “The expected revenues from the current activity” 69
Table 3.3.5 “The estimated costs for the investment” 71
Chapter 4. Analysis; Advantages and Disadvantagesof opting for EU non-refundable support 72
4.1 Analysis 72
4.2 Advantages and Disadvantages of opting for European non-refundable support 72
Conclusions 76
Bibliography 78

Tables list

Table 3.3.1 “Administrative information of the applicant” 57
Table 3.3.2 “The projected work-force” 64
Table 3.3.3 “The Action Plan for the investment project” 66
Table 3.3.4 “The expected revenuesfrom the current activity” 69
Table 3.3.5 “The estimated costs for the investment” 71

Introduction
The most popular definition for investment, as given by the Oxford Dictionary is “use of money and resources for future profit: the outlay of money and resources with the object of making a profit.” This work focuses on all the implications of an asset investment, while a presenting practicalexample to support the theoretical elements.
The theme was chosen because of the importance of knowing how to successfully manage an investment is a must-have expertise in today’s entrepreneurial world. Designing a successful project is even more important in today’s difficult economic conditions.
In the first chapter, the study analyzes the theoretical elements of the investment management,treating it as a process which begins with taking a well-informed decision, through the planning, organizing and monitoring, to the evaluation process at the end of the investment.
Furthermore, the second chapter presents the legal aspects and the institutions who manage the European Regional Development Funds, and their evolution in Romania, from pre-adhesion programs like PHARE and SAPARD, tothe FEADR support granted after joining the EU in 2007.
The third chapter, which is the one on which this work focuses the most, concretizes all the previous theoretical aspects into practical application. Taking into account the steps presented in the first chapter, and following the demands of the application for the EU non-refundable support, this chapter will synthesize a 3 year longinvestment project and its results during the first 5 years.
The final chapter analyzes the project shortly, and proceeds to conclude the work.
The success of the presented project comes from using the all the resources to a maximum, profiting from all the advantages of having access to European non-refundable support funds, owning the remaining monetary necessary, being situated in an area with...
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