Examinando por Materia "Flexibilidad"
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Ítem Aplicación de opciones reales en proyectos de infraestructura vial : caso de inversión Odinsa(Universidad EAFIT, 2019) Bernal Gaviria, Santiago; Calderón Villegas, MartínVery often the valuations of projects carried out by professionals in finance are elaborated through methodologies that assume a single deterministic decision; some examples of these are the cash flow discount and the calculation of the internal rate of return (IRR). These practices have little room for maneuver and important strategic decisions are made (Cifuentes & Espinoza, 2016). However, the application of dynamic models such as real options has allowed greater flexibility in the modeling of financial scenarios and have become a tool much more in line with the variable environments of business (Mun, 2002). This situation imposes new legal and financial challenges to the Government and private investors, so that incoming infrastructure projects can be executed under the regulatory framework of public-private partnerships (PPP), generating economic and financial value and complying with technical standards required. The present work aims to implement the real options assessment methodology to the road infrastructure sector through an exercise applied to a real investment case of the International Engineering Organization SA, Odinsa, in the participation of a public-private initiative. Using this methodology, we can quantify the value hidden in the volatility of the project associated with demand risk. The results obtained, in addition to going in line with the generation of economic value, generate value for the company and give it additional elements to make informed investment decisions. Likewise, the real options become a tool that provides managers with greater bargaining power and flexibility vis-à-vis different actors in a process of assessment of road infrastructure projects.Ítem Impact tolerant bioinspired materials(Universidad Eafit, 2020) Estrada Hernández, Susana María; Ossa Henao, Edgar AlexanderIn highly demanding applications, such as sports protective gear and personal body armor, there is a growing demand for lightweight materials able to absorb impact energy while being flexible to allow easy movement to the user. These requirements are generally challenging for typical engineered materials since increased mechanical strength is usually associated with reduced flexibility and increased weight. Fortunately, this dichotomy has been successfully surpassed by natural armor through millions of years of evolution. Through biomimetics, this dissertation sought to introduce the functional principles of segmented natural armor into synthetic devices obtaining a family of cost-efficient materials with enhanced protection and flexibility. Remarkably, these bioinspired materials exhibited a minimum increase of weight enabling its implementation in personal protection applications.Ítem El papel de las opciones reales en la valoración de una mina de cobre(Universidad EAFIT, 2019) Restrepo Giraldo, Santiago; Quiroz Mora, Alonso Elías; Tamara Ayus, Armanado LeninThe mining sector is characterized by the existence of projects that have operational and administrative flexibility, due to the high volatility of external factors that affect the development of these projects. The appropriate methodology for evaluating this type of project is the real options since it includes the value of the flexibility in the final value of the project. In the valuation of the copper mining project, the binomial tree method is used to analyzed and valued the option of temporary closure of the mine in five periods. The result of the valuation shows that when assessing the project by this method, the value of the project in the zero period increased 10.12% with respect to the calculation made by the net present value methodology, showing the importance of valuing through real options to maximize the total value of mining projects.