Forecasting cash flows of an investment project

The article touches on the topic of forecasting cash flows of an investment project. Within the framework of limited volume, emphasis is placed on the most important components of work on forecasting cash flows and cost features in the context of the forecasting activity of investment project flows. The effectiveness of the implementation of the investment project is based on determining future cash flows and the importance of making a correct forecast of the cash flows of the project causes no doubt. The article discusses the process of forecasting the flows of an investment project, used directly to determine the criteria for project effectiveness - the net present value of the project, the discounted payback period, the value of the internal profitability of the project and based on them the decision on the feasibility of implementation. The article identifies and discloses features on forecasting flows in “replacement” projects and “expansion” projects, as well as analysis of flows in the framework of deciding on the acceptability of the project from the perspective of the company's financial capabilities. The authors focused on the typical elements of project flows, which include investments, flows directly from the project and liquidation. It is also noted that the duration of the forecast period, the determination of the probabilistic values of investments and income, expenses for various periods of the project, the choice of the discount rate, the calculation of the residual value, as well as the choice of the flow model will contribute to the forecasting of cash flows of the investment project.

денежные потоки, инкрементальные потоки, финансовый менеджмент, прогнозирование, операционные потоки, утопленные затраты, инвестиционный проект, cash flows, incremental flows, financial management, forecasting, operating flows, recessed costs, investment project

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