Scuola di Dottorato della Facoltà di Scienze MM. FF. NN., Università di Milano Bicocca ELEMENTI DI ORGANIZZAZIONE AZIENDALE Funzione finanza e controllo: Relazioni tra R&D e altre funzioni aziendali Valutazione investimenti
Come nasce un nuovo prodotto Opportunità di Mercato Tecnologia Time-to- Market Prezzi Risorse Prodotto
Interazione tra le varie funzioni Product Mngmnt R&D Marketing Busin. Dev. Sales Post Sales Support
Il team di progetto Product Leader Operations Quality A&C Logistica Project A Resources Funzioni Progetti Product Manager Project B Resources R&D Sales & Marketing
Lanalisi dellinvestimento - Overview - CONSUMPTION SAVINGS Vs. INCOME TomorrowToday Future benefits TodayTomorrow $ = 1$ > 1 DISTRIBUTION INVESTMENTS
Lanalisi dellinvestimento - Overview - TIME VALUE
Lanalisi dellinvestimento - Overview - CONSTRAINTS ON RESOURCES INVESTORS REMUNERATION Need to allocate the resources on the best investment projects CONSISTENCY WITH STRATEGIC GUIDELINES
Lanalisi dellinvestimento - Overview - MAIN CLASSES OF EVALUATION METHODS Accounting Methods Financial Methods Return on Investment (ROI) Net Present Value (NPV) Internal Rate of Return (IRR) Payback Period
Lanalisi dellinvestimento - Overview - Investment inputs from the business units Corporate analysis evaluation models Business Plan – Investment Feasibility Investment Committee – Investment Approval Operating Steps at Corporate level
Lanalisi dellinvestimento - Overview - Contribution Margin * (and its % value on sales) OPEX (Fixed Costs) Depreciations EBIT (and Return On Sales %) CAPEX Yearly Net Working Capital Variation FREE CASH FLOW (before and after taxes) * CM = Sales – Variable Costs (direct and indirect) Key Economic & Financial Drivers
Lanalisi dellinvestimento - Overview - Investment Committee Outcome of the project evaluation Strategic consistency Investment Approval The Final Approval of the investment projects