التقييم المالي للمشاريع الاستثمارية المصغرة في ظل ظروف المخاطرة : دراسة حالة مشروع إنشاء معصرة زيت الزيتون بولاية سوق أهراس الممول من طرف وكالة (ANSEJ)‎

Abstract EN

This paper studied the importance of including the risk element in the financial assessment of micro investment projects for the purpose of rationalizing the investment decision taken by the National Agency for Support of Youth Employment in Algeria (ANSEJ); since the agency relied solely on the net present value criterion in its valuation of investment projects, which ignored the changing environment in which these projects operate.

The study adopted the descriptive method, as well as using the sensitivity analysis method to evaluate one of the investment project funded by the Agency.

The results showed that the project is very sensitive to each key factor (cash flow, cost of investment, discount rate, and the implementation period) in varying degrees, which indicates the importance of taking into consideration the changing nature of these variables and their effect on the feasibility of the project.