1、四川大学锦江学院外文译文（设计）毕业论文（设计）外文译文题 目 对房地产隐形成本的可行性研究 学 院 东坡学院 专 业 经济学 年级 2011 级 学生姓名 汪沁 学 号 110110339 指导教师 郑晔 四川大学锦江学院外文译文（设计）0对房地产隐形成本的可行性研究作者：Bilin Shao, Bin Ding摘要：据了解，房地产项目的可行性研究在房地产开发中起着重要的作用。然而，可行性研究仍然存在很多问题。在本文中，隐性成本这个概念将推出，这将被用来分析这些问题.与此同时，一些有用的战略将针对这些问题，进一步完善房地产项目可行性研究报告的真实性。关键词：房地产项目的可行性研究报告;隐形成
2、本的问题1介绍可行性研究是决策科学已用于项目区的全面调查和研究，以在建设目标的基础上确定基本目标是有进步的，现实的，可靠的特点，在整个项目建设进展前。我们我们还需要知道这些是否能偿还从金融和经济的信誉给一个很大的帮助。它是真实的角色,一个框架来决定投资项目，是关键因素，可以决定这个项目是否可以投资或不给一些支持性的项目决策。房地产是典型的，巨大的长期融资、相对于其他投资和容易受到不稳定的因素。因此,可行性研究对于房地产是非常重要的。然而,目前我们正在越来越关注显性成本的可行性研究而忽视隐形成本。隐形成本，相对于显性成本，他藏在总成本里面，造成企业决策者错误的概念。信息的不足，再加上非市场因素导
3、致总成本直接或间接地保值增值。这个数量的该项目的经济效益在房地产上，很大程度上取决于隐形成本。2对隐形成本存在的问题为基础的可行性研究。近年来，房地产的可行性研究有一个很大的改进。它已成为主要内容和方法，逐步使用在项目决策。但是，可行性研究事实上并不能发挥在实际案例中提到的作用。最糟糕的是还开始工作前的没有进行可行性研究。另一个事件是，可行性研究已经完成，但效果不符合要求。存在的主要问题如下：2.1 低素质的投资者并没有对它进行更多的关注直到现在,很多投资者并没有得到一个明确的方法来实现产品相关的可行性研四川大学锦江学院外文译文（设计）1究。他们依赖他们自己的希望,对于是否建立房地产已经做了一
4、个决定,认为可行性研究只是一个“支付纸”提交贷款机构、投资者和政府。因为进行不彻底,只关注该格式，可行性研究是没有意义的。因此,“可行性研究”的目标是如何从相关部门和银行贷款获得许可,所以数据不能用来反映实际状况。整个房地产项目的经济效益减少了,即使失败了,主要是归因于劳动者的态度,而忽略了可行性研究的重要性。那些被称为隐形成本与其他因素密切相关，一个优秀的决策者应该体现出的品质是有决心、有信心、目光长远正常等。当一个最喜欢的投资项目躺在投资者面前时，他一定是有信心和决心尽快做决定，相对于经济利益是否会发生创建隐形成本。此外,投资者在投资过程应该有远见,不在乎在一个小事件做出错误的决定的得失。
5、很明显,这个品质是投资者避免隐形成本的一个非常重要的因素。2.2 建设项目可行性研究主要完成顾问机构和设计者水准过低。委托投资建设部，这是可能的。其精度在很大程度上取决于这些机构设计者质量控制的水平。不幸的是，大多数的设计者缺乏实事求是的态度。他们用部分已使用的数据，乐观的评估市场价格运动。他们还没有开发详细的市场调查来预测市场前景；同时，他们不关心一些故障，更多的目光放在技术和产品的优势，减少投资的成功率。在设计者具有低水平的基础上，在可行性研究的过程中不能用正确的方法和规范，决策者的一个错误的判断甚至导致整个项目的消耗过度，失去经济利益。2.3 分析和预测的市场不够完整投资项目的盈利能力不
6、仅取决于可用的各种资源，而且还依赖于现有的和潜在的社会所需。目前，有没有更多的目光集中在市场调查和可行性研究预测。一个大的数据的数据是相关研究人员的经验与社会关系。尽管他们做了一个调查和预测市场趋势，但是结果是定性分析多于定量。通过以上方法测量的数据无法真正反映市场现状和前景。它似乎是喜欢有好处，因为错误预测市场导致投资项目分析所面临的条件存在故障。那些可以根据研究者的努力避免。2.4 没有在每一个项目中进行比较大量的科研人员更关注单一项目的可行性，忽略综合项目的可行性研究。在某些情况下,他们也分析一些项目。但在同一时间，一个特定的项目将比另一个在表面上被分析的更深入。决策者必须采用他们的愿望
7、值接受该项目,然后，综合研究变成单一项目研究，这将失去可行性研究的意义。因为缺乏比较项目,导致经济效四川大学锦江学院外文译文（设计）2益过低，相关的财务将固定失去获得更多利益的机会，从而在市场上创造更多的隐形成本。2.5 忽视环境评估的价值评估显示的可行性研究报告，对于当前环境有许多缺点。在某些情况下,有几个内容和分析在表面上对环境进行了评估,但是因为没有测量周围附近的项目，这些评估是不正确的。很明显,这些与我国研制的可持续发展战略有矛盾。此外,投资者没有考虑项目之间的环境和持续能力就开始。因此,开发强度将超过环境的承载能力，项目将产生严重的环境污染。这将增加项目完成后环境保护成本,如控制环境
8、污染,加强绿色等费用。在环境保护上，需要有一个严格的环境评估工作，使用真实的数据反映收入和支出。然而,许多可行性研究忽视了这方面,该项目将把更多的钱放在后期生产和日益增长的无形成本上。2.6 没有注意灵敏度分析和风险因素房地产项目本身具有很高的投资风险,因为在项目实施的过程有一些不确定的因素。这些不确定性在投资项目中存在风险,因此整个项目的不确定性分析是至关重要的。如果可行性研究不能对这些风险因素进行准确分析,将导致项目的额外成本。在实际工作的可行性研究,分析风险的投入是不足够的或只停留在定性分析。尽管他们进行了一些量化,但是要么是量化方法不合适，要么就是对定量结果不重视,没有很好地了解到项目
9、的风险因素,从而使一些项目在具体实施之前出现风险，或风险因素变化导致成本增加,经济效益大幅下降,导致隐性成本的产生。3 可行性研究的对策3.1 加强决策者的思想教育和素质教育为了使可行性研究进展顺利,决策者应该充分认识到教育的重要性和功能的可行性研究。识别和明确的意识形态卡尔可行性研究的效果,所以,它可以从根本保证可行性研究顺利工作。此外，投资者必须具有必要的教育和改善他们自己的专业技能,所以,当他们能果断正确的决策，就能减少隐性成本从而增加利润。3.2 提高设计者的能力培训机构必须建立和完善可行性研究专业,相关部门应定期组织专业培训。职业道德教育应是必要的，要让专业人士认识可行性研究的重要性
10、；同时，由于技能四川大学锦江学院外文译文（设计）3不足，为了减少故障,提高可行性研究的正确性，必须加强专业技能的学习。建立和完善的可行性研究，为员工提供系统的职业教育培训，通过相关部门组织定期为可行性研究人员进行业务培训。3.3重视市场调查和市场研究在可行性研究阶段,为了避免“没有可转让城市”的尴尬局面,更隐含成本，可行性研究专业人员应该做好迎接市场调研和市场预测工作。这需要相关人员认真采取相关工作，保证市场信息的正确性，以反映一个真正的市场前景。并认真分析市场消费水平,准确把握市场需求。为了保持商品消费群体,避免隐性成本,可行性研究专业人员必须认真分析市场消费水平,把握市场需求,把握主要消费
11、群体，为市场准确定位。3.4 比较和选择全面的投资项目对于一个特定的项目可能会有几种不同的投资计划，准确地研究和比较每一个投资项目之后，项目可以达到最优。通过比较不同的投资项目，综合风险会降低,可以获得更多的利润。这证明了可行性研究在降低成本，进行准确的决策中起着重要的作用。3.5 更多的关注环境评价重视环境评价，抽象地分析环境影响。如果定量分析是不合适的，定性分析必须彻底。在选择阶段,为了降低成本和隐性成本，所以对于周围环境负荷能力必须加以考虑。在考虑投资项目,我们应该意识到环境影响和经济利润,选择相对好的环境项目和减少隐性成本。3.6 深化敏感性投资项目和风险分析为了有效预防和控制风险，在
12、可行性研究中，我们应该加强灵敏度分析,注重挖掘潜在风险因素，如投资环境风险、项目建设风险等等。我们应该特别注意不利因素和不良后果,例如，因为居民不配合搬迁造成的隐形成本；因为当地的季节造成限制建设建设期限的扩展从而造成隐形成本。因此我们应该统一定量分析和定性分析。并以定量分析为主，以防止风险，进行科学决策的针对性。如果敏感性分析和风险分析根据了科学数据，从而战略上的失误项目可以大大降低，以减少隐性成本。四川大学锦江学院外文译文（设计）4参考文献1 Guangjun Ma:The discussing of investment project feasibility research work
13、 problems and measures.J. Economic research guide ,2009,p.132-133.2 Yang Wang and Shourong Wu:The impact analysis and countermeasures of market economy to the project feasibilitystudyJ. Manage engineering journal ,2005,p.179-181.3 Kai Liu:Discuss the current investment project feasibility study of t
14、he main existing problems and countermeasures J.Building economy and management ,2006,p.137-138.4 Xinhua Mu:Discuss the investment project feasibility study problem in the work and countermeasures J.Chinese collective economic strategy research,2009,p.35-36.四川大学锦江学院外文译文（设计）5The Analysis of the Issue
15、 Related to the Feasibility ofStudy the Real Estate Project on the Basis of the Implicit Cost Bilin Shao, Bin Ding Department of Economics, University of HunanAbstract: It is known that the feasibility study of real estate project plays an important role in real estate development. Nevertheless, the
16、re still remain many problems in the feasibility study. In this paper, the concept of implicit cost will be introduced, which will be used to analysis these problems. Meanwhile, some useful strategies will be raised for these problems, which intend to further improve the feasibility study of the rea
17、l estate projects. Keywords: real estate project; feasibility study; implicit cost; problems 1. Introduction The feasibility study is the decision science has been used in project area, and the basic target is on the basis of the comprehensive investigating and researching to identify a construction
18、 object whether have the characteristics of progressive, reality and reliable in the whole process from previously project construction to line operation. We also need to know those whether can pay off from the finance and the credibility in the economy to give a big help for the investating decisio
19、ns. It is real role that a framework to investing project, and is the key factors that can decide the project can be invested or not to give some supports on the project decisions. The real estate is characteristic of accounting for huge financing, a long period relative to the investing and easily
20、influenced by the instable factors. Therefore, the feasibility study is very important for the real estate. However, currently we are more and more focusing on the explicit cost in the feasibility study and ignoring the intangible cost. The intangible cost is , as opposed to explicit cost and hided
21、among the total cost of enterprise, caused by the decision maker characterized by lower diathesis, wrong concept, and the deficiency of information, coupled with the non-market factors to lead to the total cost increase directly or indirectly . The amount of economic benefits of the project largely
22、depends on getting full knowledge of the intangible cost in the real estate. 2. The Existence of the Questions Lied in the Feasibility Study on the Basis of the Intangible Cost Recently, the real estate has got a big improvement in the feasibility study. As the main contents and methods, it have bee
23、n norm and stabilized gradually to use in the project decisions. But that is fact that the feasibility study cannot play the role above mentioned in the real case. The worst case is that there is no the feasibility study before starting the work. And another event is that the feasibility study had b
24、een done, but the result was not fit to the request. The main problems are following2.1. The Investor with Low Diathesis Did Not Pay More Attentions on it Until now, a number of the investors did not get a clear clue realize the important related to the feasibility study. They had made a decision wh
25、ether building the real estate relied on their own wish, and reckoned the feasibility study was just a “payable paper” to submit to lending institution, investor and government. There is no meaning in the feasibility study because of carrying on is not thorough, focusing on the format. Therefore, th
26、e “feasibility study” is the aim that how to get a permission from the related 四川大学锦江学院外文译文（设计）6department and a loan from the bank, so the data cannot be used to reflect the real conditions. The economic benefits of the whole real estate project have decreased, even failed that was mainly ascribed
27、to the attitude, ignoring the importance of feasibility study. Those are called the intangible cost. The other factors is linked closely with cal that a excellent decision maker should be characterized by determination, confidence, farsighted. When a favorite investing project lie in front of a inve
28、stor, he must be confidence and determination to make a decision as soon as possible, or the problems relative to the economic benefits lost would be happened to create the intangible cost. Moreover, the investor should have the characters of far-sighted to consider the investing process, and not ca
29、re the “gain and loss” in a small events to make a wrong decision. It is obviously that the high very important factor to the investor to avoid the intangible cost. 2.2. The Feasibility Study Related to the Construction Project is Mainly Completed by the Consultant Agency and Design the Deviser Has
30、Low Calibre . It is possible that the accuracy largely depend on those institutions level controlled by the devisers calibre. Unfortunately, a huge number of devisers are lacking of the attitude on seek truth from facts. They have partially used the data to optimistically evaluate the market price m
31、ovement. They also did not exploit the market survey in details to predict the market prospect; at the same time, they did not care about some faults, however, more lights shed in the advantages of technology and product that reducing the success rate of investing. On the basis of the devisers havin
32、g low-calibre, the feasibility study cannot be completed by course of correct way and canonical process that the decision maker got a wrong judge to result in lost the economic benefits, even the whole projects depleting. 2.3. The Analysis and Forecasting of the Market is not Enough The earning powe
33、r of investing project is not only depending on the all kinds of available resources, but also relying on the current and potential requests needed by society. Currently, there are no more attention concentrated on the market survey and forecasting in the feasibility study. A large numbers of data c
34、ame from the related researchers experience and social relations. Even though they did a survey and forecasted the market trend, the results are more qualitative analysis than quantitative. The data measured by above process cannot really reflect the market condition and prospect. It is seemly like
35、having good benefits, because of the fault existed in the analysis and forecasting of market to lead to the investing project has to face the condition “having a price but no sales”. Those can be avoided according to the researcher endeavor. 2.4. There is No Comparative among Every Project A larger
36、numbers of the reseachers pay more attentions on the single project than the comprehensive in the feasibility study. In some cases, they also analysis some projects at the same time but a particular one will be analysed deeper than another analysed superficially. The decision maker have to accept th
37、e project choose by on their wishes, and then the comprehensive researching changed into single will lose the meaning in the feasibility study. Because lack of the comparative project, leading to the economic benefits related to the finance will be fixed to lose the chance of getting more benefits f
38、rom the market to create more intangible cost. 2.5. Ignoring the Value of the Environmental Assessment There are many faults lies in the currently environmental assessment showed by the report of feasibility study. In some cases, there is few contents and the analysis superficially about the environ
39、mental assessment, because of there is no surveying the surroundings nearby the project or the assessment is not correct. It is obviously that those 四川大学锦江学院外文译文（设计）7are contradiction with the strategy of sustainable development developed by our country. Moreover, there is no consideration between t
40、he project and sustaining ability of environment carried out by the investor. As a result, the developing intensity will exceed the loading capacity of environment near by the project to produce seriously environment contamination. This will increase the project later environmental protection costs,
41、 such as control environmental pollution and strengthen the green, ect. There is a serious environmental evaluation work to be needed on environmental protection, and using real data reflect the revenue and expenditure to provide true evidences for the final decision. However, many of the feasibilit
42、y study overlooked this respect that the project had been put more money in late to produce increase the intangible cost.2.6. Dont Pay Attention to the Analysis of the Sensitivity and Risk Factors The estate project itself has a high risk and investing, because of there are some uncertain factors in
43、 project implementation process. With these uncertainties, the investment project there is a risk, thus the uncertainty of the whole project is of vital importance. If the feasibility study of these risk factors were accurately analysed that will cause additional costs of the project. In practical w
44、ork of the feasibility study, the analysis of risk is not enough only stay in qualitative analysis, give a quantitative analysis. Though some of them to quantify, but either quantitative method unsuitable or quantitative results do not take seriously, not have a good understanding to project risk fa
45、ctors , thus make some project in concrete implementation appear of risk or risk factors change , led to increase costs and economic benefit greatly decreased, causing the recessive cost of production. 3. Countermeasures of Feasibility Study3.1. Strengthening Ideological Education and Quality Educat
46、ion of the Decision Maker In order to make feasibility study go smoothly, decision makers should be educated to fully realize the importance and function of the feasibility study. The ideology recognition and definite feasibility study effect, so that it can from the fundamental guarantee of feasibi
47、lity study work smoothly. In addition, there must be necessary education to investors to improve the quality and professional skills of their own, so that when making decisions they can decisively and correctly make decision to reduce implicit costs and increase profits. 3.2. Improving ability of th
48、e deviser Institutions of training feasibility study professional must be established and perfected ,related departments should organize professional training regularly. Professional ethics education should is necessary to make professionals realize the importance of feasibility study; in the mean t
49、ime , in order to decrease fault because of profess skills deficiency and increase correctness of feasibility study professional skills must be enhanced. Establishing and perfecting of the feasibility study for the vocational education training employees of the system, by related departments groups regularly for feasibility research personnels service training. 3.3. Pay Attention to Market Investigation and Market Research In the fea
