Theoretical and Practical Aspects of Analysis of Investment’s Sensitivity
Journal Title: Revista Romana de Statistica - Year 2016, Vol 64, Issue 8
Abstract
In performing the analysis of an investment, an important role is played by the sensitivity degree of the project, at the investments’ design, we must take the uncertainty (risk) level into account, also the recovery mode for expenses involved etc. the impact study for an investment must take into account the also the efficiency of the project for the economic environment, and also the consequences regarding its social effect. A project is based on a series of random variables, which must be identified and included in the realized study. From the theoretical viewpoint, it also manifests the perspective of occurrence of some issues during the investment’s development. In this way, the simplest method of analysis is represented by sensitivity, which consists in the analysis of all elements that determine the value of the project, the estimation of the investment’s effect variation. The analysis must be performed in an optimistic, but also pessimistic sense, in order to identify, control and eventually reduce the risks that can occur during the investment process. In this order, we have focused on the sensitivity analysis and we have used the scenarios technique. The theoretical models identified were analysed also practically, in order to suggest essential elements that must be taken into account. The data used in the validation of the identified models were sometimes adjusted by the authors.
Authors and Affiliations
Radu Titus MARINESCU, Mădălina Gabriela ANGHEL, Aurelian DIACONU
Keywords
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