Feasibility report The writing process of feasibility study report generally includes three stages and six steps.
Three stages:
1, define the writing objectives and tasks;
2. Carry out investigation and study;
3, analysis and demonstration, put forward the plan, make an evaluation.
Six steps:
1, defining the objectives of the feasibility study;
2. Conduct on-the-spot investigation and technical and economic analysis on the target, draw conclusions on various studies, and sort out detailed report materials;
3. According to the conclusion, several alternative schemes are compiled from different angles, and the better scheme is selected;
4. Study the selected scheme in detail, determine the specific scope, estimate the investment cost, operating cost and income, and make economic analysis and evaluation on the proposed project.
5. With the overall goal as the core, write a feasibility study report;
6. Prepare a financing plan.
There are two methods commonly used in the feasibility study report: one is systematic thinking analysis.
That is, take the proposed project as a system, analyze all kinds of complex factors involved, and study their relationship and development.
If necessary, a mathematical model should be established for calculation and analysis.
The second is comparative analysis.
Usually, horizontal ratio and vertical ratio are used to analyze the whole or part of the proposed project or even a specific detail.
Generally, a variety of possible projects or schemes should be compared and analyzed, and finally optimized.
Different types of feasibility study reports have their own characteristics due to different research objects, contents and methods, but the structural elements are basically the same, generally including title, preface, text, signature and annex.
1, title
The title of the feasibility study report should be written accurately and concisely, mainly in the following two ways.
(1) complete formula.
Generally, it is composed of the name of the proposed project unit, project name and language type (3 elements), such as the feasibility study report of introducing terrazzo production line into XX new building materials factory.
(2) ellipsis.
Omit the name of the proposed project unit in the complete formula, such as the feasibility study report of building a large cement plant; Omit the unit name and project name of the proposed project in the complete formula, and only write the language type, such as feasibility study report.
2. Preface
The preface is the beginning of the feasibility study report, which mainly introduces the context of the report.
It is required to specify the name of the project, the name and person in charge of the project organizer, the name of the feasibility study unit, the technical person in charge of the feasibility study, the economic person in charge and the participants, etc.
The most common way to write a preface is when, where and how to use it, and who is in charge of the feasibility study of what project.
Words should be concise and clear, and the length should not be too long.
3. Text
The text is the main part of the feasibility study report, which is a concrete analysis and demonstration of the necessity, possibility and technical and economic indicators of the declared project, and finally draws a conclusion on whether it is feasible.
It is required to adopt a comprehensive and systematic analysis method, take economic benefits as the core, and demonstrate the feasibility of the proposed project with a large number of data around various factors affecting the project.
The text includes five parts: introduction, supply and demand forecast, technical demonstration, economic analysis and conclusion.
(1) Introduction.
Put forward the basis, purpose and conclusion of the feasibility study project.
(2) Supply and demand forecast.
Mainly write about the supply and demand situation and development trend of domestic and foreign markets.
When studying and writing the supply and demand forecast, we should use scientific methods and conclusive data to make the forecast accurate and credible.
(3) Technical demonstration.
Mainly use information and data to demonstrate the following aspects: the supply of energy and raw materials; Site conditions and traffic conditions; Technology, equipment and environmental protection; Production organization and personnel training; And make a feasible or infeasible conclusion.
(4) Economic analysis.
Mainly includes: investment estimation, income estimation and investment recovery estimation.
Investment estimation, that is, the estimation of all the funds needed for the project, is divided into two parts: fixed assets investment and working capital investment; Income estimation, that is, estimating cost, selling price, sales volume, profit, etc. ; The estimation of return on investment mainly analyzes the level of return on investment and the length of return period.
In economic analysis, it is necessary to accurately estimate the total funds needed for the project, as well as the specific proportion of funds needed for each part of the project implementation and different periods.
It is necessary to correctly estimate fixed assets and liquidity.
It is necessary to analyze the source of funds, financing methods and repayment methods of the project in a targeted manner.
(5) conclusion.
It is a comprehensive evaluation of the project on the basis of supply and demand forecast, technical demonstration and economic analysis.
There are three kinds of evaluation conclusions: infeasible conclusion, feasible conclusion and compensatory conclusion.
The conclusion should not be ambiguous or ambiguous.
Step 4 sign
Indicate who completed the feasibility report and the date of the report.
If it is noted under the heading, it can be omitted here.
5. Accessories
In order to meet the needs of conclusions, it is often necessary to add some attachments, mainly including various demonstration materials, experimental data, investigation data, calculation charts, drawings and so on. Those that can't be written in the text to enhance the persuasiveness of the feasibility study report.
Feasibility report Xianggong Town of xx County is located in the northeast of xx County 15km, with an area of 33. 3 square kilometers, governs 12 administrative villages, 45 villagers' groups, 3526 households 1 person, (the population of the whole township is 32 16 people), 1998, which is a provincial key construction town, and has been successively rated as a "small town planning and construction demonstration town" by provinces and cities.
Xianggong Town is located at the junction of Shaanxi and Gansu provinces with convenient transportation. Yin Fu expressway and Xiping Railway cross the border, and Changning Road and Ranxiang Road meet here. Every village has asphalt roads and cement roads.
The fly ash plant of Datang Chang Bin Power Plant and Hujiahe Coal Mine have been completed and put into operation. Xianggong Town is a big town of fruit industry and a vegetable production base in greenhouse. The town's orchard area is 1.98 million mu, which is the main trading center of four counties (xx, Binxian, Ningxian and Zhengning) in Shaanxi and Gansu. There are more than 400 shops in this street. On the second day, the fifth day and the eighth day of the lunar calendar, the number of people gathered can reach tens of thousands, and the trade circulation is active.
At present, there is no well-run and well-conditioned farmers' market in this town. Most vendors set up stalls along the street, and the sanitary conditions are extremely poor, which seriously affects traffic. It is dusty in sunny days and muddy in rainy days, which is incompatible with the requirements of city and county governments to create civilized towns and sanitary towns. The people are also very dissatisfied with this situation. They have long been willing to hope that the local government will come forward to coordinate and change the status quo, build a large-scale and high-grade agricultural product trading farmer's market, and solve the problem of local people producing and selling agricultural products.
To this end, the company sized up the situation, followed the trend, coordinated the relationship between all parties, and raised funds with the strong support of the town party Committee and government 1 192. 80,000 yuan to build a "xianggong" farmer's market.
The project is located in Xianggong Town Agricultural Machinery Station, which is transferred and requisitioned by the town government in accordance with national policies. The project is located in the center of the town, with superior geographical position, developed transportation and convenient access.
Building a comprehensive farmer's market in Xianggong Town here can solve the dilemma that there is no market in the process of self-produced and self-sold agricultural products in the surrounding area of nearly 100 square kilometers, provide convenience for the surrounding people and coal workers to buy agricultural products, and also provide some jobs for the local people, which directly promotes farmers' income and has good economic and social benefits.
First, the basic situation of the project implementation unit;
Name of project unit: Shaanxi Fu Qi Fruit Industry Co., Ltd.
Form of ownership: limited company
Shaanxi Fu Qi Fruit Industry Co., Ltd. was established in June 20xx with a registered capital of 6 million yuan. The company is located in xx county.
The main business scope includes: the construction and development of farmers' markets; Lease of houses and market operation facilities; Market management services, fruit planting, sales and processing; Seedling cultivation and sales; A company specializing in cold storage leasing.
By the end of 20xx, the total assets of the enterprise were RMB 2 1.37 million, and there were 56 employees, including professional technicians 10.
At present, the company has built 3600 tons of modified atmosphere warehouse, 100 mu demonstration park and 300 mu standardization base.
Every year, more than 6 million kilograms of high-quality fruits are distributed, and the sales income is more than RMB10 million.
The company is also committed to the development of modern high-tech agriculture, and is implementing a green high-tech project jointly developed with Shanxi Academy of Agricultural Sciences in xx County-jujube-grass intercropping incidental breeding ecological base.
The planned implementation area of the project is 5000 mu, which is distributed in Yuyuan, Gong Peng and Xianggong towns. The total planned investment is 30 million yuan. After the completion of the project, it will not only provide a large number of eco-economic high-tech seedlings and grass seeds for the greening of barren hills and plains in our province and even the whole western region, but also provide a new direction and modern operation mode for the development of fruit industry in our province, and at the same time drive the surrounding people out of poverty and become rich in the form of "company+farmers".
Shaanxi Fu Qi Fruit Industry Co., Ltd. is a real economic company with strong economic strength, strong management ability, high popularity index and good development prospects in xx county. It has good management experience and business philosophy of avoiding market risks and striving for maximum economic benefits.
The company always adheres to the Party's reform and opening-up policy and the spirit of Scientific Outlook on Development, and insists on promoting the construction of new countryside and regional economic development and increasing farmers' income as the starting point and fundamental foothold. Through the leading role of the project, the market construction and economic development of surrounding rural towns will be better radiated.
In order to expand the company's business, expand business performance, make the company bigger and stronger, and constantly improve the scale and grade.
Make positive contributions to the adjustment of local industrial structure and increase farmers' income.
Second, the content of the project construction;
With the coordination of Xianggong Town Government, the land for the project construction is 5 100 square meters of the former site of Xianggong Town Agricultural Machinery Station, 5,600 square meters of commercial buildings and 0/500 meters of hardened roads, which are mainly used for the purchase and sale of agricultural products produced and sold by the surrounding people.
3. Investment estimation and fund raising;
Project investment estimate:165438+928,000 yuan.
Source of funds: The required funds for the project165438+928,000 yuan are all raised by Shaanxi Fu Qi Fruit Industry Co., Ltd. ..
Fourth, economic benefit analysis;
The project has accurate positioning, reasonable site selection, moderate scale and good market prospect.
High return on investment. After completion, the average annual income is 6.5438+0.56 million yuan, and the investment profit rate is 654.38+03.08%. Judging from the economic and social benefits of the project, the project is completely feasible.
Verb (abbreviation of verb) analysis conclusion;
With the implementation of the western development strategy and the connection between the Eurasian Continental Bridge and the economic belt along the line, xx County has formed a spatial pattern of "five counties in the east, Qingyang and Pingliang in the west, Baoji and Lingtai in the south, Ningxian and Qingyang in the north". Xianggong Town, with superior geographical location and developed transportation, is the main trade gathering place of four counties (xx, Binxian, Ningxian and Zhengning) in Shaanxi and Gansu.
Xianggong Town insists on taking Scientific Outlook on Development as the leader, making scientific planning and careful deployment. The town's economy and society have maintained a good momentum of rapid development. With the construction of the coal ash plant of Datang Chang Bin Power Plant and Hujiahe Coal Mine, it has brought a golden opportunity for the development of Xianggong Town, so it is necessary to build this project.
1. This project conforms to the national economic and social development plan of Xianggong Town, and is a key project in the near future planning of Xianggong Town. The implementation of this project is of great significance to promoting regional economic development, improving the circulation of agricultural products, prospering urban trade, improving residents' living environment and improving urban infrastructure.
2. Judging from the project construction scheme and engineering technology, the design and construction, technical strength, construction experience and management experience of the project are mature and reliable, and there is no technical risk. The investor is well funded and will be completed as scheduled.
To sum up, the project conforms to the economic development strategy of xx County and Xianggong Town, and plays an important role in the economic and social development of Xianggong Town. The project completion scheme is feasible, and the operation mode of engineering technical scheme is mature and reliable. Therefore, this project is not only necessary, but also feasible.
Feasibility report The real estate feasibility study report is a scientific analysis and prediction of the project based on the feasibility study. Therefore, the feasibility study of the development project is the prerequisite for the success of the project. The project feasibility study is the most important core document in the project establishment stage, which is the main basis for project decision-making with considerable information and workload.
Section 1 Concept and Function of Feasibility Study
I. Concept of feasibility study
Feasibility study refers to the comprehensive analysis, demonstration and evaluation of the resources, technology, market, economy and society related to the project before the investment decision, to judge whether the project is technically feasible, economically reasonable and financially profitable, and to choose the best possible scheme. Its purpose is to make the decision-making of real estate development projects scientific and procedural, so as to improve the reliability of decision-making and provide reference for the implementation and control of development projects.
China began to introduce the feasibility study method in 1970s, and promoted it under the leadership of the government. 198 1 years ago, the former state planning commission made it clear that "feasibility study, as an important stage of technical and economic demonstration in the pre-construction work, was included in the basic construction procedure.
Second, the role of feasibility study
(1) Feasibility study is an important basis for project investment decision. The scientific rationality of investment decision of development projects, especially large-scale investment projects, is a project feasibility study based on detailed and reliable market forecast, cost analysis and benefit estimation.
(2) Feasibility study is the basis for project initiation, approval and the signing of agreements and contracts between developers and relevant departments. Investment projects in China must be included in the national investment plan. Especially for real estate projects, the feasibility study report is one of the bases for the relevant government departments to establish, approve and sign relevant agreements.
(3) Feasibility study is the basis of raising construction funds for the project. The feasibility study of real estate development project analyzes the economic and financial indicators of the project, from which we can understand the project's ability to raise funds and repay the principal, as well as the ability to obtain operating benefits.
Whether banks and other financial institutions provide loans mainly depends on the project profit information provided in the feasibility study. Therefore, the feasibility study is also the basis for enterprises to raise construction funds and financial institutions to provide credit loans.
(4) Feasibility study is the basis of compiling the design task book. The feasibility study arranges the construction scale, contents and standards of the development project, which is the content of the project design task book.
Section 2 Work in Feasibility Study Stage
First of all, the feasibility study can be carried out in several stages according to the progress of the project.
(a) In terms of opportunity research.
The main task of this stage is to make suggestions on investment projects or investment directions, that is, to find the most favorable investment opportunities on the basis of investigating and predicting natural resources and markets in certain regions and departments. Chance research is relatively rough, relying mainly on approximate estimation rather than detailed analysis.
The accuracy of investment estimation at this stage is 30%, and research expenses generally account for 0.2%~0.8% of the total investment. If the opportunity study thinks it is feasible, yes.
(2) Preliminary feasibility study
On the basis of opportunity study, further demonstrate and analyze the possibility and potential benefits of project construction. In the preliminary feasibility study stage, the investment estimation accuracy can reach 20%, and the required cost accounts for about 0.25%~ 1.5% of the total investment.
(3) Detailed feasibility study
Detailed feasibility study is the basis of investment decision-making for development and construction projects, and it is the key step to make investment decision after analyzing the technical, financial and economic feasibility of the project. The estimation accuracy of construction investment at this stage is 10%,
Small projects account for about 1.0%~3.0% of the investment, and large complex projects account for about 0.2%~ 1.0% of the investment. Project evaluation and decision-making, in accordance with the relevant provisions of the state, for large and medium-sized and above projects and important small projects, the examination and approval unit must authorize a qualified consulting and evaluation unit to evaluate and demonstrate the feasibility study report of the project. Without the evaluation of the construction project, any unit shall not approve, but shall not organize the construction.
(four) the feasibility study stage work accuracy table
Section III Contents of Feasibility Study
I. Structure of the Feasibility Study Report
Generally speaking, a project feasibility study report compiled by a professional organization should include a cover, an abstract, a table of contents and a text.
Second, (a) cover: generally reflect the name of the feasibility report, the name of the professional research institutions and the time of writing the report.
(2) Abstract: Briefly introduce the general situation of the project, the market situation, the conclusion of the feasibility study and relevant explanations or assumptions in a concise and clear language. We should highlight the key points and make the assumptions clear so that readers can understand the essence of the full text in a short time.
Some experts also advocate not to write an abstract, because the feasibility study report is of great importance, and readers should read it carefully and comprehensively.
(3) Content: As a feasibility report is as short as ten pages or more, it is necessary to compile a table of contents in order to facilitate writers and readers to clearly write and master the context, assumptions and specific contents of the report.
(4) Text content: it is the main body of the feasibility report and should generally include the following contents.
1, project overview
It mainly includes: the name and background of the project, the natural, economic, hydrogeological and other basic information of the project development, the purpose, scale, function and main technical and economic indicators of the project development, the entrusting party and the entrusted party, the purpose of the feasibility study, the personnel who compiled the feasibility study, the basis for compilation, and the assumptions and explanations for compilation);
2. Market research and analysis
On the basis of in-depth investigation and full grasp of various materials, the market demand and supply of the proposed development project are scientifically analyzed, and objective predictions are made, including development cost, market price, sales target, development cycle and sales cycle.
3. Optimization of planning and design scheme
Based on the analysis and comparison of alternative planning schemes, the most reasonable and feasible scheme is selected as the final scheme and described in detail. Including the architectural layout, functional zoning, municipal infrastructure distribution, main technical parameters of buildings and projects, technical and economic indicators and technical indicators of regulatory detailed planning of the selected scheme.
4. Development schedule
If the development schedule is reasonable, the development project can be arranged according to the stages of preliminary project, main project, auxiliary project and completion acceptance. As a large-scale development project, due to the long construction period and large investment, it is generally necessary to develop by stages, and the development contents of each stage need to be arranged at the same time.
5. Project investment estimation
Analyze and evaluate the cost of development projects. The costs involved in real estate development mainly include land cost, prophase project cost, construction and installation cost, municipal infrastructure cost, public supporting cost, period cost and various taxes and fees. The accuracy of estimation is not as high as the budget, but it should conform to the future development facts to improve the accuracy of evaluation.
6. Project financing plan and financing cost estimation
According to the investment estimation and investment progress of the project, reasonably estimate the capital demand, draw up the financing plan, and calculate and analyze the financing cost. The investment in real estate development is huge, so it is necessary to arrange funds well before investment, raise funds in different ways, reduce the cost of raising funds and ensure the normal progress of the project.
7. Financial evaluation of the project;
According to the current national fiscal and taxation policies, current prices and relevant laws and regulations, this paper analyzes the financial situation of the project from the perspective of the project, such as profitability, solvency and foreign exchange balance, so as to explore a feasible project financing method. Specifically, based on the pre-sale forecast and cost forecast of the project, the estimated income statement, the estimated balance sheet, the estimated financial cash flow statement, the debt repayment table, the source and application table are used to calculate financial evaluation indicators and debt repayment indicators such as financial net present value, financial internal rate of return, investment payback period, debt repayment period and asset-liability ratio. , used to analyze the investment effect.
8. Uncertainty analysis and risk analysis
It mainly includes break-even analysis, sensitivity analysis and probability analysis. Through the analysis of social, economic, environmental, policy, market and other factors that affect the investment effect, we can understand the nature and degree of the influence of various factors on the project, and provide reliable basis for controlling key factors in the project operation process. At the same time, according to the possibility of risk, it provides reference for investors to understand the size and source of project risk.
9, the conclusion of the feasibility study
According to the analysis of related factors and the numerical values of various evaluation indexes, the feasibility of the project is clearly concluded.
10, suggestions of researchers on the project
Put forward improvement suggestions for the risks and problems existing in the project, and evaluate the effect of the suggestions.
(5) Appendix: It contains the main basis of the feasibility study and is an indispensable part of the feasibility study report. Generally speaking, when a project is doing a formal feasibility study, it must have the approval documents of relevant government departments (such as planning and site selection opinions, land lease contracts, land certificates, construction project permits, etc.). ). Professionals must prepare the feasibility study report of the project according to the power of attorney, the above documents and the corresponding laws and regulations.
(VI) Drawings: A complete feasibility report shall include the following drawings: location map, topographic map, planning red line map, design plan plan, and sometimes the overall planning map of the area or city where the project is located.
Second, the project investment budget feasibility study report
In some non-standard feasibility study reports of real estate projects, the project investment budget only includes the project budget, which is not correct enough. A real estate project is not equal to a simple building, it needs marketing cost, financial cost and construction cost, and project investment is to meet these costs. Moreover, the project budget estimate is not necessarily equal to the actual investment of the developer in the project construction. On the premise of being proved to be feasible, the rolling investment development model of recovering funds and adding investment can also be adopted.
In this way, the actual total investment of developers in engineering construction will be much smaller. The phenomenon of replacing project investment estimation with project estimation is extremely serious. The investment budget of real estate projects shall include the following contents:
(1) Estimated marketing expenses
1, cost of preliminary research and feasibility study of the project
2. Project planning expenditure
3. Sales plan expenses
4. Advertising expenses
5. Daily operating expenses of the project company
6. Public relations expenditure of projects and enterprises
(2) Estimated project expenditure
1. Engineering exploration expenditure
2. The cost of blowing sand to fill the soil and leveling the land
3. Expenditure on engineering design
4. Construction expenditure.
5. Expenditure on supporting facilities
6. Project supervision expenditure
(3) Estimation of land acquisition cost
1, the standard land price charged by the government at one time.
2, for the demolition compensation or compensation for young crops
3, the impact on public facilities and compensation costs.
(4) Estimation of financial costs and expenses
1, bank guarantee and management fees incurred when foreign exchange funds enter the domestic monetary system.
2. Interest expenses caused by loans
3. All kinds of insurance costs
4. Taxes and administrative expenses
5. Unexpected expenses
Section IV Preparation of Feasibility Study Report
First, the common misunderstandings in the feasibility analysis of real estate projects
1, Misunderstanding 1: A standard benefit analysis
If a project feasibility study report tells you with certainty how much money you can earn in the future, and it will definitely earn so much money, it will never be a realistic report, and a professional and serious project feasibility study report cannot be just a benefit standard.
There are too many uncertain factors in the feasibility study, which makes the future price and sales process of the project in a relatively uncertain state. Therefore, the "benefit analysis" of the feasibility study can not be very certain, but only reasonable predictions, and these predictions need to assume the premise, that is, the expected value. The feasibility study gives different expected benefit forecasts according to different expected values.
2. Myth 2: Feasibility study of prejudice.
Looking at most of the failed large-scale real estate investments in China, most of the failures are caused by some foreseeable factors. These factors include: the senior villa is located in a large industrial zone, which leads to the destruction of the villa environment and no one cares.
The development of high-rise apartments in towns far away from the city has also been neglected; Ready to live in rural areas where planning is out of control, developers give up halfway under the impact of cheap "fund-raising houses".
At the same time, the supply of similar buildings in the same city is too large, resulting in insufficient demand; The construction cost far exceeds the budget, resulting in a shortage of funds; A new viaduct passes through the middle, which invalidates the advantages of real estate shops. When the developers of these projects talk about these problems, they usually sigh "I didn't expect it", but I should have thought of it long ago. Let's take a look at the "feasibility study report" of these projects. Almost all of them are the same tune: quoting classics and describing the bright future of this project investment from all angles, but not mentioning the unfavorable factors of the project investment. This kind of "feasibility study" is to prove that the project is feasible from beginning to end, which makes the taboo of "preconceived".
(1) The preconceived feasibility study is usually caused by the following reasons:
A, the subjective will of the leaders of real estate investment enterprises is at work. Often due to the influence of the "chief executive's will" on the project, the project researchers are worried that finding fault with the project will offend the boss, so they learn to observe the face and observe the color. All the arguments revolve around the meaning of the leader. Therefore, in order to avoid the development of this situation, the company leaders should give more support and less intervention, and let the research group lay down their burdens and investigate and analyze with scientific methods.
B, the professional level of the research group personnel is not enough. The feasibility study of some projects is not given to experts who are really good at it, but to some college teachers or people in our company. In doing so, the intelligence and ability structure of the research group is very unreasonable, and it is impossible to expect them to produce a truly credible feasibility study report.
C. Some developers entrust the feasibility study to some architectural consulting institutions, whose scientific research strength is too hard, but because the project means business to them, unless the developer declares in advance that the units participating in the feasibility study cannot undertake the engineering consulting business of this project, it is unlikely to maintain a neutral research attitude.
D, some developers to save trouble, let the other side to provide feasibility study report. This is when there is intentional contact. It is necessary, but it should be clear that the feasibility study done by the other party is only based on its own investment behavior and is not suitable for the current developers; Sometimes in order to win other people's investment, the other party may unilaterally exaggerate the investment value of the project, and such a feasibility study cannot be neutral.
Organize a feasibility study team, and the knowledge structure and personnel arrangement of the team members should be comprehensive.