With an ever increasing concern for the environment, different methods of managing organic waste on dairy farms have been explored and analyzed. Anaerobic digestion has long been a popular method of managing organic waste. Its popularity stems from the potential to decrease greenhouse gases, improve air quality and provide a source of additional revenue for the farm. Problems with implementing anaerobic digestion arise from high failure rates, high start-up costs and continuous maintenance and equipment replacement. Subsidies for the initial investment and improved technology have increased the possibility of large-scale dairy farms to adopt anaerobic digestion. Due to economies of scale large-scale dairy farms are more able to adopt anaerobic digestion, but small-scale dairies struggle to finance the investment, maintain the digester system and provide sufficient organic waste to continuously feed the microorganisms inside the digester system. The increasing impact of urbanization greatly impacts the demand for anaerobic digestion on small-scale farms to mitigate the negative effects of organic waste produced by dairy farms. Dr. Conly Hansen at Utah State University suggested we use an IBR digester model to analyze the feasibility of adopting anaerobic digestion on small-scale farms. The IBR digester system is more conducive to small-scale dairies located in regions with varying temperature (i.e., Utah), and may be the solution to mitigate the negative effects of organic farm waste. Dr. Donald McMahon also suggested we analyze the potential of implementing a digester on a dairy farm that produces artisan cheese. We predicted that this would improve the feasibility due to the need to dispose of whey from the cheese production. To determine the feasibility of implementing a digester system on a small-scale dairy farm the net present value and the internal rate of return were calculated to estimate the success of the investment. These financial measures were calculated from equipment price quotes, estimations from the literature review and from using estimated annual receipts and costs for a dairy farm, artisan cheese plant and anaerobic digester system. The feasibility also depends on the success of marketing the products produced from the digester system and the farmer’s participation in incentive programs for digester systems. The products produced vary from electricity to waste disposal services, and marketing an array of diverse products and services is important to the success of the digester system. The feasibility determined by this study was estimated using generalized assumptions from various sources and should be analyzed by individual operations to determine specific farm feasibility.

The work deals with economics and technological feasibility of the business plan, which is the sale of meat to feed the dogs. The theoretical part presents the structure of the feasibility study, which then corresponds to the practical part. The practical part shows that the intention is suitable for investment as it is both economical and technologically feasible.

[pt] O presente trabalho se propôs a efetuar uma investigação resumida do mercado de mineração de criptomoedas no Brasil e analisar a viabilidade econômica da implantação de uma fazenda de mineração de Bitcoins em território brasileiro. O estudo foi realizado em três etapas, onde foram abordadas análises determinísticas baseadas em possíveis cenários, observação da sensibilidade do investimento em relação as principais variáveis do problema e por último a utilização de métodos estocásticos visando estimar o risco do investimento, em razão do ambiente de incerteza. Os resultados demonstram que este é um investimento de altíssimo risco e que não existe viabilidade econômica em minerar Bitcoin no Brasil, com cotação do abaixo de US$ 10.065. O estudo aponta o custo da energia elétrica como o mais expressivo, seguido do investimento nos equipamentos de mineração e sugere que a operação seja estabelecida em países com menor custo de eletricidade, clima mais baixo e menores taxas de importação e de imposto de renda. / [en] This work carries out a brief investigation of cryptocurrencies mining market in Brazil and to analyze the economic viability of the investment in a Bitcoin mining farm in Brazil. The study was carried out in three stages, where deterministic analyzes were based on possible scenarios, observation of the sensitivity of the investment relative to the main variables of the problem and finally the use of stochastic methods to estimate the investment risk under uncertainty. The study points to the cost of electricity as the most significant, followed by investment in mining equipment and suggests that the operation be established in countries with lower electricity costs, lower climate and lower import and income tax rates.

[pt] A tomada de decisão de investimento em projetos de serviços pós-venda deve incluir, como etapa anterior, o levantamento dos custos logísticos de sua operação, que podem ser de transporte, provenientes, por exemplo, da roteirização de visitas, e logísticos e tributários se a operação envolver importação de equipamentos/peças. O objetivo deste trabalho envolve a identificação dos processos e custos e a avaliação de uma oportunidade de investimento neste contexto, mensurando o valor que projetos dessa natureza podem apresentar. Sua viabilidade econômica é analisada sob a ótica dos modelos tradicionais de análise de investimento e também sob a abordagem da Teoria das Opções Reais, método de avaliação que considera as flexibilidades gerenciais e modela as variáveis de incertezas do projeto por meio de processos estocásticos. O resultado das análises permite a comparação da viabilidade do projeto de implementação de uma van itinerante de reparos caso a decisão possa ser postergada ou nem mesmo tomada, considerada como uma opção perpétua. São modeladas duas variáveis estocásticas, demanda e taxa de câmbio Real/Dolar, ambas como um Movimento Geométrico Browniano por meio de Simulação de Monte Carlo. Os resultados obtidos indicam a viabilidade do projeto e sugerem o exercício imediato da opção de investir. Deste modo, disponibilizar um serviço pós-venda pode ser atraente para a empresa do ponto de vista econômico-financeiro, além de trazer benefícios aos clientes. Foi, adicionalmente, avaliada a influência dos parâmetros de volatilidade do projeto e de crescimento das variáveis estocásticas a fim de fazer uma análise de sensibilidade para os resultados encontrados. / [en] Prior to taking investment decision in after-sales services projects, the logistics costs of its operations must be known and considered, they may include transportation costs, originated from routing, and logistics and import tax related costs if the project considers the import of equipment/parts. The aim of this dissertation involves the identification of those processes and costs and the valuation of an investment opportunity in this sense, measuring the value that similar projects may present. The economic viability of the project is analyzed from the perspective of the traditional models of investment analysis and also with the approach of the real options theory, a valuation method that considers the managerial flexibilities and that models the uncertainties of the project as stochastic processes. The result of the analyses allows the comparison of the viability of implementing a project for a mobile repair and service van in case the investment decision can be postponed or even not taken, considering it as a perpetual option. Two stochastic variables are modeled in this project, the demand and the RealBRL/DollarUSD exchange rate, both as a Geometric Brownian Motion through Monte Carlo simulation. The results indicate the viability of the project and suggest the immediate exercise of the option to invest. This way, offering after-sale services can be attractive to the company, from an economic and financial perspective, besides offering benefits to customers. Additionally, the influence of the project volatility and the stochastic variables growth parameters were tested through sensitivity analysis for the obtained results.

The subject of the diploma thesis is to acquaint the reader with the issue of a public investment project and then apply the information found to the case study in the form of a financial and economic evaluation of the selected investment plan. The evaluated investment project is the reconstruction of a cinema in the village of Hustopeče in the South Moravian Region, while the identified outputs were achieved using the cost method of cost-benefit analysis using the eCBA application. Part of the evaluation also includes a risk analysis in the form of a sensitivity and qualitative analysis.

This diploma thesis focuses on the highest and best use analysis (HABU) of property. In first chapters there is mention about current legislation, theoretical terms and methods of property valuation in Czech republic. The next chapter describes a methodology for the highest and best use analysis. The analysis itself was applied to real case, specifically to a former storage area of the construction company, which is located in Brno - Maloměřice. For this area were designed scenarios of possible use and four of them were chosen using tests of HABU analysis. In the end, one of them was chosen which is being considered the highest and best use for this property.