استخدام معايير التقييم المالي في قياس مردودية المشاريع الاستثمارية

Résumé: Generally making a decision to Finance an investment must be preceded by a feasibility study that would allow measuring the validity of the investment project in all its aspects through several criteria that help measure the profitability of the project and then making the decision to accept or reject the proposed project, this highlights the importance of financial evaluation standards and their contribution in measuring the profitability of investment projects. Through two chapters of this study we discussed the theoretical aspects of this subject, the first deals with theoretical framework for investment and investment projects, the second dealt with financial evaluation and its role in measuring investment projects by reviewing the most important standards of financial evaluation, whether classical or dynamic theories, beside the third chapter which is a case study that focuses on the national agency for youth support and employment to discuss the criteria the apply to accept and reject the submitted projects, at the end several results were reached; the most important is the application of only the net present value criterion in the acceptance or rejection of the proposed projects ,as this standard measurement is based on cash flows that depends on the turnover estimation which is constantly increasing, This makes the net present value criterion lacks realism in measuring the profitability of the projects, and the agency should review the way it evaluates the projects proposals and reconsider other criteria in financial assessment.

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