This diploma thesis deals with analysis of multifunctional building efficiency investment. The theoretical part describes investments and investment space, building life cycle, financing options and evaluation methods of efficiency investment. The practical part is focused on specific contract efficiency realized in Prague. Cash flow is created and payback time is counted for the individual scenarios. Net present value and internal rate of return serve as alternative indicators of efficiency investment.

Rapporten handlar om att jämföra fyra olika värmesystem med varandra. Dessa värmesystem är bergvärmesystem, sjövärmesystem, markvärmesystem och akvifersystem. Strukturen på rapporten ser ut på följande: Först beskrivs varje systemför sig, alltså hur hela systemet fungerar och sedan beskrivs nackdelar samt fördelar för varje system. Vid val av rätt värmesystem är det olika för olika villor eftersom alla har olika förutsättningar. Vid diskussion jämförs dessa fyra värmesystem med varandra utifrån just dessa förutsättningar.  De förutsättningar som jämförs med varandra om de olika systemen går att hitta under rubriken målformulering längre fram. / This rapport is about evaluating four different heating systems. These systems are first, each system is described, how it works and then pros and cons with each system. Choosing the right heating system is different for different buildings since they all have different conditions. In the discussion these four systems are compared to each other considering all these conditions. The Conditions examined can be found in the beginning of the report.

Dagens behov för energieffektivisering ställer höga krav på industrisektorn som anses vara den största energikonsumenten. Holmen AB är verksam inom massa- och pappersindustrin som är en energiintensiv bransch där sådana stora energianvändare som pumpapplikationer spelar en nyckelroll i produktionen. Denna studie genomfördes för att hjälpa företaget att undersöka vilka energi- och kostnadsbesparingar som kan förväntas om det befintliga pumpreglersättet ändras. Syftet med arbetet var att ta fram en metod för uppskattning av pumpenergiförbrukning, som skulle producera ett underlag för en jämförelseanalys av energiförbrukningen vid olika reglersätt. Studien fokuseras mest på centrifugalpumpar, som dominerar i industriell miljö på grund av sin robusta konstruktion, höga effektivitet och relativt låga behov för underhåll. Men det tillvägagångssätt som har använts i studien kan användas för bedömning av olika typer av pumpar och reglersätt eftersom det byggs på de grundläggande fluidmekanikslagarna. Tidigt i arbetet identifierades de viktiga parametrar som mest påverkar energiförbrukning i centrifugalpumpar och som krävs i beräkningar. Olika reglersätt diskuterades utifrån den befintliga litteraturen och forskningen. Uppskattning av energiförbrukning och energikostnader utfördes för två olika reglersätt, strypreglering och frekvensreglering. I arbetets sista skede jämfördes resultaten för de två reglersätten för att avgöra om det finns en potential för energi- och kostnadsbesparingar vid byte från strypreglering till frekvensreglering. Studiens resultat visar att övergång till frekvensreglering kommer att medföra energibesparingar och som följd besparingar i årliga driftkostnader samt LCC-kostnader. Storleken på besparingarna beror på minskning i varvtalet. Frekvensregleringen är mest lönsam då det önskade flödet skiljer sig mycket från det nominella flödet i systemet, men eventuell försämring av motor- och pumpverkningsgrad måste tas i beaktande. En mer utförlig analys av energiförbrukning vid olika flöden och olika typer av medier rekommenderas att utföras med användning av praktiskt uppmätta effektförbrukningsvärden. / Today's need for energy efficiency places high demands on the industrial sector, which is considered to be the largest energy consumer. Holmen AB is a pulp and paper producer. Pulp and paper production is an energy-intensive branch where pump applications consume large amounts of energy while playing a crucial role in the production process. This study was conducted to help the company investigate what energy and cost savings can be expected if the existing pump control method is changed. The purpose of the study was to develop an approach for estimating pump energy consumption, which would produce a basis for comparative analysis of energy consumption for different control methods. The study focuses mainly on centrifugal pumps, which dominate the industrial environment due to their robust construction, high efficiency, and relatively low maintenance needs. However, this study's approach can be used to assess different types of pumps and control modes as it is based on the fundamental fluid mechanics laws. At the beginning of the study, the key parameters that affect energy consumption in centrifugal pumps were identified to be later used in calculations. Pump control methods were discussed based on the existing literature and research. Estimation of energy consumption and costs was performed for two different control methods, throttle control, and frequency control. In the last stage of the study, two control methods were compared based on the energy consumption calculation to determine whether there is a potential for energy and cost savings when switching from throttle control to frequency control. The results show that usage of frequency control would lead to energy savings and, therefore, to savings in annual operating costs and LCC costs. The amount of the savings depends on the reduction in the rotational speed of the motor. The frequency control is most advantageous when there is a significant difference between the desired flow and the nominal flow in the system. But the potential reduction of motor and pump efficiency must be taken into consideration. A more detailed analysis of energy consumption for different flows and different types of pulp is recommended, with practically measured energy consumption values.

Digitalization is an important aspect for future growth of all organizations, and especially in times like the past year where most of the world has been faced with covid-restrictions and lockdown. Dermarome is a leading skincare and beauty distributor and are currently in the process of launching a new B2B website and web-shop. The aim of this research is to provide an answer to the following interrelated research questions:   1. How do the management of Dermarome decide on their investments in the business- to- business IT infrastructure?    2. How will the launch of the business- to- business website affect the purchasing behaviour of the business- to- business customers?    To answer these research questions a qualitative study has been made and the top management at Dermarome has been interviewed for this purpose. 5 interviewees were selected based on their knowledge and experience. All interviews that participated in this research were anonymous.    The result of this thesis is divided up into two parts, firstly, it describes how Dermarome has used the Payback rule and SWOT in order to make a decision regarding the investment in the B2B website. Secondly, it describes how Dermarome believes the saloon and spa customers purchasing behaviour will change due to this website, as it will lead to an increase in Dermarome’s sales.

The topic of this diploma thesis is cost analysis of heating sources in passive houses. The first part of the thesis is theoretical and focuses on basic concepts of passive house, renewable energy sources, heating sources, economical indicators. In the practical part there is cost analysis of chosen heatig sources of model house. Result of this thesis is evaluation of design options and optimal solution.

Purpose of the study: develop and validate technology services to small town sports club. The object of study: аctivities of sports club “Olimp”, city Kamensk-Uralsky. Subject of study: рlanning service technologies for sports club “Olimp”, city Kamensk-Uralsky. The author reviewed the literature on the implementation of technology in the service industry of sports. The author has studied the activities of the sports club “Olimp”, city Kamensk-Uralsky. Author planned and substantiated service technologies for sports club “Olimp”, city Kamensk-Uralsky. The author has shown the results of research at international conferences. / Цель исследования: разработать и экономически обосновать сервисные технологии для спортивного клуба малого города. Объект исследования: деятельность спортивного клуба «Олимп», город Каменск-Уральский. Предмет исследования: разработка сервисных технологий для спортивного клуба «Олимп» г. Каменск-Уральский. В ходе исследования проведен обзор литературных данных по вопросам внедрения сервисных технологий в индустрию спорта; проведен сбор и рассмотрение данных по вопросам деятельности спортивного клуба «Олимп», г. Каменск-Уральский; разработаны и экономически обоснованы сервисные технологии для спортивного клуба «Олимп», г. Каменск-Уральский. Апробация результатов исследования проведена на двух международных конференциях.

Магистерская диссертация выполнена на 88 страницах, содержит 13 таблиц, 31 рисунков, 51 использованных источников. Актуальность работы заключается в разрешении противоречия между необходимостью вести эффективный автоматизированный контроль и учет деятельности на предприятии и отсутствием автоматизированных средств контроля и учета данной деятельности в рамках информационных систем управления персоналом на предприятии. В результате магистерского исследования решены ряд задач: рассмотрены существующие системы для автоматизации предприятия, а также проведен анализ их возможностей, спроектирован и разработан модуль ведения системы на базе 1С: Предприятие, проведено внедрение программного продукта. Практическая значимость данного исследования состоит в применении результатов магистерской диссертации на предприятии, перед руководством которой стоит задача по частичному переходу с бумажного документооборота на электронный, а также в оптимизации бизнес процессов компании, разработанные конкретно под данную компанию модуль информационной системы, могут послужить толчком к дальнейшим действиям и реализации. Эффективность проекта подтверждена расчетами таких показателей, как коэффициент эффективности проекта, период окупаемости, дисконтированный период окупаемости, чистый дисконтированный доход, внутренняя норма доходности и индекс прибыльности, что свидетельствует о жизнеспособности проекта и возможности получении компанией не только материальных выгод, но и улучшения бизнес-процессов предприятия в целом. / The master thesis was made on 88 pages, contains 13 tables, 31 figures, 51 used sources. The relevance of the work lies in resolving the contradiction between the need to conduct effective automated control and accounting of activities in the enterprise and the lack of automated controls and records of this activity within the information systems of personnel management in the enterprise. As a result of the master’s research, a number of tasks were solved: existing systems for enterprise automation were reviewed, their capabilities were analyzed, a module for maintaining the system based on 1C: Enterprise was designed and developed, and a software product was introduced. The practical significance of this study is to apply the results of the master’s thesis at the enterprise, whose management is faced with the task of partially switching from paper to electronic, as well as optimizing the company's business processes, developed specifically for this company’s information system module, can trigger further actions and implementation. The effectiveness of the project is confirmed by calculations of such indicators as the project efficiency ratio, payback period, discounted payback period, net present value, internal rate of return and profitability index, which testifies to the viability of the project and the possibility of the company obtaining not only material benefits, but also improving business processes enterprises in general.

Bakgrund: Betydelsen av investeringsbedömningen kan inte överbetonas till följd av dess långsiktiga fördelar för företagets giltighet och operativa funktionalitet. Beräkningsmetoder som används för investeringsbedömning bistår med nödvändig kunskap för att underlätta beslutsfattande samt för att skapa sig en tydligare bild över det föreslagna investeringsprojektet. Företag investerar för att upprätthålla sina ekonomiska mål och värderingen av olika investeringsalternativ spelar således en central roll för företagets ekonomiska fortlevnad och utveckling. Kapitalinvesteringar är ofta omfattande och förväntas generera värde på lång sikt, vilket formar företagets ekonomiska fokusområden. Detta belyser viktigheten av en kvalitativ bedömning för olika investeringsalternativ och deras respektive utvecklingsmöjligheter. Syfte: Genom att undersöka användningsområdet för kalkylräntan avser studien att öka kunskapen för sambandet mellan kalkylräntebestämningen och investeringsbedömningen. Detta som ett delsyfte till att undersöka vilka metoder som några svenska industri- och fastighetsföretag använder. Studien avser även vidare att beskriva och analysera företagens investeringskalkylering och kapitalstruktur. Metod: Studien har antagit en kvalitativ forskningsansats med semistrukturerade intervjuer med svenska industri- och fastighetsbolag. Respondenterna valdes ut genom ett målstyrt urval och vidare beskriver metoden hur insamling av det empiriska materialet har gått till. För att besvara studiens problemformulering har det empiriska materialet analyserats med den teoretiska referensramen. Slutsats: Studiens resultat visar tydliga skillnader i relation till den klassiska kapitalteorin och att långsiktiga strategiska investeringar i viss utsträckning tenderar att inkräkta på investeringar som kan generera en högre internränta och således vara mer ekonomiskt lönsam, men som är av mindre strategisk betydelse för bolaget. Detta strider mot teorins förutsättningar om att uppnå en normativt optimal kapitalstruktur. En viktig aspekt av det är att företagen försöker bibehålla en helhetlig bild av investeringarna där förutsättningar för nyutveckling ska uppmärksammas, vilket i regel inte strider mot kapitalteorins antaganden. Men i relation till det kan dock investeringskalkyler endast förse bolag med en begränsa uppfattning av investeringens ekonomiska konsekvenser. / Background: The importance of the investment appraisal cannot be overemphasized as a result of its long-term benefits to the company's validity and operational functionality. Calculation methods used for investment assessment assist with the necessary knowledge to facilitate decision-making, as well as to create a clearer picture of the proposed investment project. Companies invest to maintain their financial goals and the valuation of different investment alternatives thus plays a central role for the company's financial survival and development. Capital investments are often extensive and expected to generate value over the long term, shaping the company's financial focus areas. This highlights the importance of a qualitative assessment for different investment options and their respective development opportunities. Purpose: By examining the area of use for the discount rate, the study intends to increase knowledge of the connection between the discount rate determination and the investment assessment. This as a partial aim to investigate which methods some Swedish industrial and real estate companies use. The study also intends to describe and analyze the companies' investment calculation and capital structure Method: The study has adopted a qualitative research approach with semi-structured interviews with Swedish industrial and property companies. The respondents were selected through a targeted selection and the method further describes the collection of the empirical material. In order to answer the study's problem formulation, the empirical material has been analyzed with the theoretical frame of reference. Conclusion: The results of the study show clear differences in relation to the classic capital theory and that long-term strategic investments to a certain extent tend to encroach on investments that can generate a higher internal rate of return and thus be more financially profitable, but which are of less strategic importance for the company. This goes against the theory's prerequisites for achieving a normatively optimal capital structure. An important aspect of it is that the companies try to maintain a holistic view of the investments where the conditions for new development must be noticed, which as a rule does not contradict the assumptions of the capital theory. However, in relation to that, investment calculations can only provide companies with a limited idea of the financial consequences of the investment.

The aim of the thesis is to evaluate an investment project in the Russian Federation from the foreign investor's perspective. The project feasibility study was developed as the first step in a decision making process of execution an international investment project, which includes ambient conditions and market analysis. The plan of cash flow was compiled in compliance of Russian tax system, and was considered as a base for project evaluation by using appropriate methods. For further assessment of possible risks of the project was used sensitivity analysis.

Made available in DSpace on 2016-04-25T18:40:39Z (GMT). No. of bitstreams: 1 Mario Cordeiro Filho.pdf: 9981225 bytes, checksum: 565a2d3dad4737a7a20f562e323becab (MD5) Previous issue date: 2009-06-18 / The purpose of this dissertation this to the study the problems related to applying valuation methods for highway concessions companies in Brazil. It is justified by the economic importance that this sector is assuming in Brazil with respect to investments in infrastructure that have already been and are going to be made. The highway concession segment in Brazil has expanded since the second half of the 1990s. Until this date there are more than 50 highway concession companies throughout the country, responsible for investment commitments of more of them R$ 10 billion related to improving and expanding the brazilian highway network. The highway concessions are specific purpose entities with a defined service life and holders of a concession right that permits them to commercially exploit segments of highways through charging tolls from the users, in exchange for assuming commitments to provide determined services and to implement investments for improvement and expansion during the concession agreement. In some cases the concession also assumes the commitment of payment of a right of concession to a Granting Authority. In this dissertation the application of valuation methods for companies, based on discounted cash flows, dividend flows, internal rate of return, payback and value multiples such as the ratio between enterprise value and its EBITDA are considered. These methods were used in the valuation of the five highway concessions granted by the Government of the State of São Paulo in the public auction that took place in October 2008. The results of this valuation as well as a critical analysis of the adequacy of the above-mentioned valuation methods are presented in chapter V and the conclusions are presented in chapter VI of this dissertation / Este trabalho tem por objetivo estudar os problemas relativos a aplicação de métodos de avaliação de empresas em concessões de rodovias no Brasil, e justifica-se pela importância econômica que esse setor vem assumindo no país no que tange aos investimentos de infraestrutura realizados e a realizar. O setor de concessões de rodovias no Brasil tem se expandido desde a segunda metade da década de 90. Existe até esta data mais de 50 empresas de concessões de rodovias em todo o país, responsáveis por compromissos de investimentos de mais de R$ 10 bilhões relativos a melhoria e expansão da malha viária brasileira. As concessões de rodovias são Sociedades de Propósito Específico com vida útil definida. Detentoras de um direito de concessão que lhes permite explorar comercialmente trechos de rodovias por meio da cobrança de tarifas de pedágio dos usuários, em contrapartida, assumem o compromisso de prestar determinados serviços e implantar investimentos de melhoria e de expansão ao longo do contrato. Em alguns casos, a concessão encarrega-se do encargo de pagar direito de outorga a algum Pode Concedente. Este trabalho considerou a aplicação dos métodos de avaliação de empresas baseados em Fluxos de Caixa Descontados, Fluxos de Dividendos, Taxa Interna de Retorno, Payback e Múltiplo de Valor como, por exemplo, a relação Valor da Empresa / EBITDA. Os métodos acima foram aplicados na avaliação das cinco concessões de rodovias outorgadas pelo Governo do Estado de São Paulo no leilão público ocorrido em outubro de 2008. Os resultados dessas avaliações, assim como a análise crítica da adequação dos referidos métodos de avaliação, são apresentados no Capítulo V e as conclusões, no Capítulo VI deste trabalho