8VRGHODVFDUDFWHUtVWLFDVFURQRPHWUDGDVGHOKRUQRLQIHULRU
SDUDFRFLQDUSRUFRQYHFFLyQ
*($SSOLDQFHVFRP
(VFXFKDUiXQYHQWLODGRUPLHQWUDVHVWpFRFLQDQGRFRQHVWDVFDUDFWHUtVWLFDV(OYHQWLODGRUVHGHWHQGUiFXDQGRODSXHUWDVHDEUDSHURHO
FDORUSHUPDQHFHUi
127$
QRGHEHSHUPLWLUVHTXHORVDOLPHQWRVTXHVHHFKDQDSHUGHUIiFLOPHQWH³FRPROHFKHKXHYRVSHVFDGRUHOOHQRV
DYHV\FHUGR³UHSRVHQSRUPiVGHKRUDDQWHVRGHVSXpVGHODFRFFLyQ/DWHPSHUDWXUDDPELHQWHSURPXHYHHOFUHFLPLHQWRGH
EDFWHULDVSHOLJURVDV$VHJ~UHVHGHTXHODOX]GHOKRUQRHVWpDSDJDGD\DTXHHOFDORUGHODERPELOODDFHOHUDUtDHOFUHFLPLHQWRGH
EDFWHULDVSHOLJURVDV
&yPRFRQILJXUDUXQ,QLFLRLQPHGLDWR\XQD3DUDGDDXWRPiWLFD
(OKRUQRVHHQFHQGHUiLQPHGLDWDPHQWH\FRFLQDUi
GXUDQWHHOWLHPSRVHOHFFLRQDGR$OILQDOGHOWLHPSRGH
FRFFLyQHOKRUQRVHDSDJDUiDXWRPiWLFDPHQWH
$VHJ~UHVHGHTXHHOUHORMPXHVWUHODKRUDFRUUHFWDGHO
GtD
3UHVLRQHXQDYH]HOERWyQ
&RQYHFWLRQ%DNH
SDUDHOKRUQHDGRSRUFRQYHFFLyQFRQP~OWLSOHV
SDUULOODV(VWHPRGRHVXWLOL]DGRSDUDFRFLQDU
DOLPHQWRVHQPiVGHXQDSDUULOODHVGHFLU
RPiVSDUULOODVDOPLVPRWLHPSRHQKRUQHDGR
SRUFRQYHFFLyQ&RQVXOWHODVHFFLyQ
+RUQHDGR
HQP~OWLSOHVSDUULOODVSDUDPiVLQIRUPDFLyQ
3UHVLRQHGRVYHFHVHOERWyQ
&RQYHFWLRQ
%DNH
SDUDHOKRUQHDGRSRUFRQYHFFLyQGH
XQDSDUULOOD(VWHPRGRVHXWLOL]DSDUDFRFLQDU
DOLPHQWRVHQVyODXQDSDUULOODHQHOKRUQHDGR
SRUFRQYHFFLyQ
3UHVLRQHHOERWyQ
&RQYHFWLRQ%DNH
SDUDDVDU
SRUFRQYHFFLyQ
3UHVLRQHORVERWRQHVQXPpULFRVSDUDHVWDEOHFHU
ODWHPSHUDWXUDGHOKRUQRGHVHDGD
3UHVLRQHHOERWyQ
&RRNLQJ7LPH
127$
VLVXUHFHWDUHTXLHUHGHSUHFDOHQWDPLHQWRHV
SRVLEOHTXHQHFHVLWHDxDGLUPiVWLHPSRDOWLHPSRGH
FRFFLyQ
3UHVLRQHORVERWRQHVQXPpULFRVSDUDFRQILJXUDUHO
WLHPSRGHFRFFLyQGHVHDGR(OPtQLPRWLHPSRGH
FRFFLyQTXHSXHGHFRQILJXUDUHVGHPLQXWR(Q
ODSDQWDOODDSDUHFHUiODWHPSHUDWXUDGHOKRUQR
TXHXVWHGFRQILJXUH\HOWLHPSRGHFRFFLyQTXH
KD\DLQJUHVDGR
3UHVLRQHHOERWyQ
6WDUW
/DSDQWDOODPRVWUDUiORVFDPELRVGHWHPSHUDWXUD
FRPHQ]DQGRHQ)\HOWLHPSRGHFRFFLyQ/D
SDQWDOODFRPLHQ]DDFDPELDUXQDYH]ODWHPSHUDWXUD
DOFDQ]DORV)
(OKRUQRFRQWLQXDUiFRFLQDQGRGXUDQWHODFDQWLGDG
GHWLHPSRSURJUDPDGDOXHJRVHDSDJDUi
DXWRPiWLFDPHQWH
3UHVLRQHHOERWyQ
&OHDU2II
SDUDERUUDUOD
SDQWDOODVLHVQHFHVDULR5HWLUHODFRPLGDGHO
KRUQR5HFXHUGHDXQTXHHOKRUQRVHDSDJXH
DXWRPiWLFDPHQWHORVDOLPHQWRVTXHVHGHMDQHQ
HOKRUQRFRQWLQXDUiQFRFLQiQGRVHGHVSXpVTXHHO
KRUQRVHDSDJXH
&yPRFRQILJXUDUXQ,QLFLRSRVWHUJDGR\XQD3DUDGDDXWRPiWLFD
8VWHGSXHGHFRQILJXUDUHOFRQWUROGHOKRUQRSDUDTXH
SRVWHUJXHHOLQLFLRFRFLQHGXUDQWHXQSHULRGRHVSHFtILFR
GHWLHPSR\OXHJRVHDSDJXHDXWRPiWLFDPHQWH
$VHJ~UHVHGHTXHHOUHORMPXHVWUHODKRUDFRUUHFWDGHOGtD
3UHVLRQHXQDYH]HOERWyQ
&RQYHFWLRQ%DNH
SDUDHO
KRUQHDGRSRUFRQYHFFLyQFRQP~OWLSOHVSDUULOODV
(VWHPRGRHVXWLOL]DGRSDUDFRFLQDUDOLPHQWRVHQ
PiVGHXQDSDUULOODHVGHFLURPiVSDUULOODVDO
PLVPRWLHPSRHQKRUQHDGRSRUFRQYHFFLyQ
&RQVXOWHODVHFFLyQ
+RUQHDGRHQP~OWLSOHVSDUULOODV
SDUDPiVLQIRUPDFLyQ
3UHVLRQHGRVYHFHVHOERWyQ
&RQYHFWLRQ%DNH
SDUD
HOKRUQHDGRSRUFRQYHFFLyQFRQXQDSDUULOOD(VWH
PRGRHVXWLOL]DGRSDUDFRFLQDUDOLPHQWRVVRORFRQ
XQDSDUULOODHQHOKRUQHDGRSRUFRQYHFFLyQ
3UHVLRQHHOERWyQ
&RQYHFWLRQ%DNH
SDUDDVDUSRU
FRQYHFFLyQ
3UHVLRQHORVERWRQHVQXPpULFRVSDUDHVWDEOHFHUOD
WHPSHUDWXUDGHOKRUQRGHVHDGD
3UHVLRQHHOERWyQ
&RRNLQJ7LPH
127$
VLVXUHFHWDUHTXLHUHGHSUHFDOHQWDPLHQWRHVSRVLEOH
TXHQHFHVLWHDxDGLUPiVWLHPSRDOWLHPSRGHFRFFLyQ
3UHVLRQHORVERWRQHVQXPpULFRVSDUDFRQILJXUDUHO
WLHPSRGHFRFFLyQGHVHDGR
3UHVLRQHHOERWyQ
'HOD\6WDUW
3UHVLRQHORVERWRQHVQXPpULFRVSDUDHVWDEOHFHUOD
KRUDGHOGtDDODFXDOGHVHDTXHHOKRUQRVHHQFLHQGD
\FRPLHQFHDFRFLQDU
6LGHVHDYHULILFDUHOWLHPSRTXHKDFRQILJXUDGRSUHVLRQH
HOERWyQ
'HOD\6WDUW
SDUDYHULILFDUODKRUDGHLQLFLR
TXHKDFRQILJXUDGRRSUHVLRQHHOERWyQ
&RRNLQJ7LPH
SDUDYHULILFDUODGXUDFLyQGHOWLHPSRGHFRFFLyQTXHKD
FRQILJXUDGR
3UHVLRQHHOERWyQ
6WDUW
127$
VRQDUiXQWRQRGHDWHQFLyQVLHVWiXWLOL]DQGRHO
KRUQHDGRRHODVDGRFURQRPHWUDGR\QRSUHVLRQDHOERWyQ
6WDUW
GHVSXpVGHLQJUHVDUODWHPSHUDWXUDGHKRUQHDGRR
DVDGR
&XDQGRHOKRUQRVHHQFLHQGDDODKRUDGHOGtDTXH
XVWHGKD\DHVWDEOHFLGRODSDQWDOODPRVWUDUiHOFDPELR
GHWHPSHUDWXUDFRPHQ]DQGRD)\HOWLHPSRGH
FRFFLyQ/DSDQWDOODFRPLHQ]DDFDPELDUXQDYH]TXHOD
WHPSHUDWXUDDOFDQFHORV)
(OKRUQRFRQWLQXDUiFRFLQDQGRGXUDQWHODFDQWLGDGGH
WLHPSRSURJUDPDGDOXHJRVHDSDJDUiDXWRPiWLFDPHQWH
3UHVLRQHHOERWyQ
&OHDU2II
SDUDERUUDUODSDQWDOODVL
HVQHFHVDULR5HWLUHODFRPLGDGHOKRUQR5HFXHUGH
DXQTXHHOKRUQRVHDSDJXHDXWRPiWLFDPHQWHORV
DOLPHQWRVTXHVHGHMDQHQHOKRUQRFRQWLQXDUiQ
FRFLQiQGRVHGHVSXpVTXHHOKRUQRVHDSDJXH
