Research On Value Evaluation Of Waterway Engineering Project

Water transport is an important part of the transportation industry.With the introduction of the 19th“Traffic Power”strategy,the importance of China's water transport development has also increased.China has successively issued a series of policies to accelerate the development of waterway engineering projects,thereby promoting the development of water transport.However,the current value evaluation method of waterway engineering project cannot accurately reflect the true value of the waterway engineering project due to its own defects,and its evaluation method and related parameters have not changed for many years,and the incompatibility with China's social and economic reality has become increasingly prominent.In this context,this paper has carried out related research on the value evaluation of waterway engineering project.This paper refers to the research results of real option theory applied in other fields,based on the analysis of the real option characteristics of the waterway project,and introduces the real option theory into the value evaluation of the waterway engineering project,and corrects the value evaluation method of the waterway engineering project.It is considered that the true value of the waterway engineering project should include its net present value and the value of real options,and proposed the definition of the concept of the value of the waterway engineering project.At the same time,based on the current direct economic benefit calculation method of waterway engineering project,the factor of carbon emission is added,the net present value measurement model of the waterway engineering project will be constructed from five aspects: the larger-sized ship,the cost savings brought by the replacement of land transportation,the reduction of ship transportation cost savings caused by ship congestion,the reduction of transit,and the reduction of carbon emissions,which makes the calculation of net present value of waterway engineering project more in line with the development of modern society.Based on fuzzy theory,a fuzzy single-period and multi-period binary tree model is established.The triangular fuzzy function is used to characterize the rise and fall extend of the present value of the cash flow in the waterway engineering project,and the real option value calculation model of the waterway engineering project is established.The case analysis of someone waterway regulation engineering project in this paper also shows that the model is practical and feasible.The research in this paper provides a new idea for the value evaluation of waterway engineering projects,adding new ideas,in order to enrich relevant theories and provide a new method for the evaluation of the value of waterway engineering projects.This also has a very positive significance for the scientific and rational planning of the waterway engineering projects and the promotion of the healthy development of the water transport economy.