The aim of this dissertation is to design finance management model and then to test it in real company operated in field of facility management (property and asset management in the field of real estate’s). Designed model works with instruments of financial analysis and investment management. Key hypothesis of the model tells that return on equity should by higher or equal in comparison to weighted average cost of capital. This hypothesis is used not only for effective financial management of the company but also for its smaller units (business centres). Part of the dissertation is definition how to implement and use the model (31 steps for the implementation). Designed model (and hypothesis as well) is verified on the case study.

Como efeito negativo da sociedade marcada pelo desenvolvimento industrial a qualquer preço, especialmente decorrente do revés processo histórico de desativação de indústrias, surgiram no espaço urbano extensas áreas abandonadas suspeitas ou efetivamente contaminadas. Estas áreas são denominadas brownfields, e podem ser encontradas em praticamente todos os países industrializados ou em processo intenso de industrialização, em qualquer dos Continentes. Mostra-se relevante perceber a situação atual do gerenciamento de brownfields, mais especificamente de áreas contaminadas, que compõem o cenário de grande parte das cidades, e os instrumentos utilizados para promover a sua refuncionalização, especialmente os mecanismos legais criados para este fim. A Região Metropolitana de São Paulo é caso emblemático no Brasil tanto na constatação e registros da formação de brownfields pela relocalização de empreendimentos industriais quanto pela forma pioneira com que vem inovando e implementando instrumentos para a revitalização desses espaços urbanos, aliando iniciativas políticas e legais. Ainda, a recentíssima Resolução CONAMA nº 420, de 28 dezembro de 2009, surge como a primeira regulamentação sobre o tema em nível federal no Brasil, e traz a expectativa de que o tema seja finalmente enfrentado adequadamente no País, embora ainda mereça aprimoramentos e medidas complementares. / Submitted by Marcelo Teixeira (mvteixeira@ucs.br) on 2014-06-04T19:06:59Z No. of bitstreams: 1 Dissertacao Juliana Flavia Mattei.pdf: 1796369 bytes, checksum: 212b89fe86f392c6e12cad7b05d176ea (MD5) / Made available in DSpace on 2014-06-04T19:06:59Z (GMT). No. of bitstreams: 1 Dissertacao Juliana Flavia Mattei.pdf: 1796369 bytes, checksum: 212b89fe86f392c6e12cad7b05d176ea (MD5) / As a negative effect of the industrial development at any price, especially due to the historical process of closure of industries have emerged large urban areas abandoned, which are suspected or actually contaminated. These areas are called brownfields, and can be found in virtually all countries, industrialized or under intense process of industrialization in any of the Continents. It is necessary to study the current status of brownfields management, which have been being a mark of industrialized cities, and the instruments used to promote their revitalization or refunctioning, especially the legal mechanisms created for this purpose. The Metropolitan Region of São Paulo in Brazil is emblematic case both in finding and comfirming the formation of brownfields by relocation of industrial enterprises, as well the pioneer way in innovating and deploying tools for urban areas revitalization, combining political and legal initiatives. Also, the very recent CONAMA Resolution 420 of December 28th, 2009, appears as the first legislation on the issue from federal initiative in Brazil, and raises the hope that the problem is finally addressed adequately in the country, though still worthy of improvements and complementary measures.

Como efeito negativo da sociedade marcada pelo desenvolvimento industrial a qualquer preço, especialmente decorrente do revés processo histórico de desativação de indústrias, surgiram no espaço urbano extensas áreas abandonadas suspeitas ou efetivamente contaminadas. Estas áreas são denominadas brownfields, e podem ser encontradas em praticamente todos os países industrializados ou em processo intenso de industrialização, em qualquer dos Continentes. Mostra-se relevante perceber a situação atual do gerenciamento de brownfields, mais especificamente de áreas contaminadas, que compõem o cenário de grande parte das cidades, e os instrumentos utilizados para promover a sua refuncionalização, especialmente os mecanismos legais criados para este fim. A Região Metropolitana de São Paulo é caso emblemático no Brasil tanto na constatação e registros da formação de brownfields pela relocalização de empreendimentos industriais quanto pela forma pioneira com que vem inovando e implementando instrumentos para a revitalização desses espaços urbanos, aliando iniciativas políticas e legais. Ainda, a recentíssima Resolução CONAMA nº 420, de 28 dezembro de 2009, surge como a primeira regulamentação sobre o tema em nível federal no Brasil, e traz a expectativa de que o tema seja finalmente enfrentado adequadamente no País, embora ainda mereça aprimoramentos e medidas complementares. / As a negative effect of the industrial development at any price, especially due to the historical process of closure of industries have emerged large urban areas abandoned, which are suspected or actually contaminated. These areas are called brownfields, and can be found in virtually all countries, industrialized or under intense process of industrialization in any of the Continents. It is necessary to study the current status of brownfields management, which have been being a mark of industrialized cities, and the instruments used to promote their revitalization or refunctioning, especially the legal mechanisms created for this purpose. The Metropolitan Region of São Paulo in Brazil is emblematic case both in finding and comfirming the formation of brownfields by relocation of industrial enterprises, as well the pioneer way in innovating and deploying tools for urban areas revitalization, combining political and legal initiatives. Also, the very recent CONAMA Resolution 420 of December 28th, 2009, appears as the first legislation on the issue from federal initiative in Brazil, and raises the hope that the problem is finally addressed adequately in the country, though still worthy of improvements and complementary measures.

The aim of this dissertation is to design finance management model and then to test it in real company operated in field of facility management (property and asset management in the field of real estate’s). Designed model works with instruments of financial analysis and investment management. Key hypothesis of the model tells that return on equity should by higher or equal in comparison to weighted average cost of capital. This hypothesis is used not only for effective financial management of the company but also for its smaller units (business centres). Part of the dissertation is definition how to implement and use the model (31 steps for the implementation). Designed model (and hypothesis as well) is verified on the case study.

The goal of my research and study is to analyze market prices of the real estate properties on the borders of the Czech Republic, Slovakia and Austria. Based on the collection of the needed data, there are databases made in which the real estates are categorized by the type, disposition and location. According to the database, we can then calculate the average market prices of the real estate properties which we can later compare to the border regions' standards. Likewise, we also consider the specific structure of the database in the outputs, which helps us to outline the different factors influencing the property price. Special attention is paid to those factors which play a big part in the real estate prices. Likewise, we considered the other factors increasing the property market price in the study.

The introductory part of the thesis deals with the overall issue of valuation, explaining the basic concepts that are necessary for the valuation. Then followed the analysis of market with the real estates and characteristic description of the specified location. For the purposes of the valuation was selected 10 real estates of type garage, which are valued at cost and comparative manner according to the announcement and comparative manner with the database. The real estates were selected around the city Protivin. A local investigation was carried out and the documentation was made for the each garage. The acquired data are evaluated and the result describes the effect of the location on the price of the property.

Gradual construction in individual parts of the city has its own characteristics. Each period brings different general requirements for construction based on the lifestyle and needs of the population at certain time. This difference in construction, whether the real estate itself, or the overall layout of buildings in the landscape, including different architectural elements, affects the determination of their value. However it is often not possible to provide a sufficiently large database of comparable objects in medium-sized municipalities when applying the comparison method. Analysing of individual types of construction and, in particular, quantifying their impact on the usual cost is a new contribution and a view of building assessment. The dissertation thesis deals with the analysis of the problematic locality, the mapping of the individual construction stages, including defining individual characteristics of buildings and their surroundings. The construction influence was quantified based on the created database of realized housing units and selected methods. The realised facts in this dissertation thesis can be used as a basis for experts and valuers in the securing of database elements but also as a basic information for state administration authorities and for the public when buying and selling commodities, choosing a place for housing or information about their age.

The submitted thesis focuses on establishing the extent of influence of material composition of selected segment of real estates (units) on their market price and price of the existing properties in the locality, including reasoning and experimental validation of market value (or market price) assessment methodology of the given property. It is indisputable that there are many subjective opinions and views of each individual assessor (of expert opinion) entering into the process of property assessment. Therefore it is necessary to “standardise” or rather unify, if possible, at least some input data in a way most likely preventing disproportions that are still a part of expert practise nowadays. The influence of material composition on the value (price) of the property, as for the relation to unit size, its locality and also its age and technical condition, is within this thesis verified first of all in computational phase of the assessment of the specific unit, when it in principle shows possible inaccuracy in assessing the final price of property, which should be avoided by a proper expert assessment. Practical impact and use of the influence of material composition is applied within the comparative method as one of several assessment methods that can be employed in establishing (assessment) of market value of the property.

The thesis deals with the decision-making of the expert in real estate valuation. Due to the complexity of the process and the difficulties of valuation it can be assumed that the decision will be an arduous process. It is obvious that the choice of an expert is crucial to the result of the valuation process. This topic is currently relatively little explored, and therefore the work will deal with the analysis and formulation of decision problems expert in real estate valuation. The thesis analyses the current status of forensic engineering and decision-making regarding to real estate valuation. The general decision-making process, divided into seven steps, is adapted to the requirements of expert decision-making in real estate valuation. As in the managerial decision-making process, property valuation is also divided into three levels. These three levels considered the described fundamental decision problems that lead to the formulation of the expert decision-making principles in real estate valuation. For better understanding the extensiveness of the decision-making process in the valuation of real estate the author created a decision tree respectively schemes whose functionality has been verified at the end of the thesis, exemplified with the help of a specific case study of the determined price in real estate valuation.