本论文在结合房地产项目投资决策研究等相关理论和方法的基础上，以信立 房产公司为例，探讨如何对房地产项目的投资决策流程进行设计，并获得对房地 产项目投资决策的普适性经验应用于今后企业的投资中，希望借此提升在巨大的 市场环境风险下，房地产企业运用科学理论进行投资决策的重视程度。 论文的主要研究内容包括 “信立公司投资决策流程体系的设计”和“信立 公司投资决策流程的应用”两部分。其中，第一部分“信立公司投资决策流程体 系的设计”主要从“组织及制度保障体系构建”、“定性分析方法构建”和“定 量分析方法构建”三个方面对投资决策流程进行了设计。“组织及制度保障体系 的构建”聚焦投资决策团队的缺乏和管理制度缺失的问题，对投资决策团队的组 织再造原则进行了说明并实施团队建立，同时对投资决策的管理制度进行了完 善，从而为房地产的投资决策建立一套有效的组织及制度保障；“定性分析方法 构建”是针对投资决策研究不深入的问题，在对宏观经济和微观市场深入研究的 基础上，结合 SWOT 分析对标的项目进行定位研究，构建了一套适用房地产投资 决策的综合定性分析方法，以判断项目技术上的可操作性；而“定量分析方法构 建”主要是结合市场客观因素，运用房地产相关理论进行项目营收和定价分析， 制定财务报表并结合相关财务指标进行项目盈利分析，再通敏感性分析法进行风 险分析，从而构建出了一套有助于科学决策的定量分析研究方法，以判断项目经 济上的合理性。通过将定性分析与定量分析相结合的方式，构建出具有科学理论 依据的投资决策流程体系。第二部分“信立公司投资决策流程的应用”主要结合 信立公司房地产项目的投资决策实际，通过将设计的投资决策流程应用到实际的 房地产开发项目中，以期判断出该项目在选址、方案设计、开发建设条件、财务 等各方面合理性及可行性，从而为类似房地产企业的投资决策提供科学的依据。 关键词，房地产；投资决策；流程设计；评价体系III Abstract Based on the theory and method of real estate project investment decision-making, this paper takes Xinli Real Estate Company as an example to discuss how to design the investment decision-making process of real estate project, and obtains the universal experience of real estate project investment decision-making and applies it to the future investment of enterprises, hoping to enhance it. Under the enormous market environment risk, the real estate enterprise uses the scientific theory to carry on the investment decision-making the attention degree. The main research contents of this paper include the design of investment decision-making process system of Credit Corporation and the application of investment decision-making process of Credit Corporation. Among them, the first part, the design of investment decision-making process system of Credit Corporation mainly designs the investment decision-making process from three aspects: the construction of organizational and institutional guarantee system, the construction of qualitative analysis method and the construction of quantitative analysis method. The construction of organization and system guarantee system focuses on the lack of investment decision-making team and management system. It explains the principle of organizational reengineering of investment decision-making team and implements the establishment of team. At the same time, it perfects the management system of investment decision-making, so as to establish an effective set of investment decision-making for real estate. Organizational and Institutional Guarantee; Construction of Qualitative Analysis Method is a comprehensive qualitative analysis method suitable for real estate investment decision-making, which is based on the in-depth study of macroeconomic and micro-market, combined with SWOT analysis to locate the target project, and constructs a set of comprehensive qualitative analysis method to judge the item. The construction of quantitative analysis method is mainly based on the objective factors of the market, the use of real estate theory for project revenue and pricing analysis, the formulation of financial statements and related financial indicators for project profitability analysis, and the re-pass of sensitivity analysis method for risk analysis. A set of quantitative analysis methods is helpful for scientific decision-making to judge the economic rationality of the project. By combining qualitative analysis with quantitative analysis, anIV investment decision-making process system with scientific theoretical basis is constructed. The second part, The application of investment decision-making process of Xinli Company mainly combines the actual investment decision-making of real estate project of Xinli Company, and applies the designed investment decision-making process to the actual real estate development project in order to judge the rationality of the project in site selection, scheme design, development and construction conditions, finance and other aspects. And feasibility, so as to provide a scientific basis for investment decision-making of similar real estate enterprises. Keywords，Real estate; Investment decision; Process optimization; Evaluation system目录 致谢................................................................................................................................ I 摘要...............................................................................................................................II Abstract ........................................................................................................................III 第 1 章 绪论..................................................................................................................1 1.1 选题的背景.......................................................................................................1 1.2 研究意义...........................................................................................................2 1.3 国内外研究现状...............................................................................................3 1.3.1 国外研究现状.........................................................................................3 1.3.2 国内研究现状.........................................................................................4 1.4 研究内容...........................................................................................................5 1.5 研究方法..........................................................................................................6 1.6 创新之处...........................................................................................................7 第 2 章 相关理论基础..................................................................................................9 2.1 投资决策流程管理相关理论..........................................................................9 2.2 房地产项目定性研究相关理论.................................................................... 11 2.3 房地产评估相关理论....................................................................................12 第 3 章 信立公司投资决策现状及存在问题............................................................16 3.1 信立公司概况及 LB 房地产项目介绍 .........................................................16 3.2 信立公司投资决策存在问题.........................................................................17 3.3 信立公司投资决策问题原因分析................................................................18 第 4 章 信立公司投资决策流程体系的设计............................................................19 4.1 投资决策流程结构体系.................................................................................19 4.1.1 流程设计的方法概述..........................................................................19 4.1.2 房地产投资决策内容和流程体系概述..............................................19 4.2 建立有效的组织保障体系.............................................................................21 4.3 房地产项目的综合定性分析方法.................................................................22 4.4 房地产项目的经济效益定量分析方法.........................................................23 第 5 章 信立公司投资决策流程的应用....................................................................275.1 组织及制度保障体系的构建.........................................................................27 5.1.1 投资决策团队的组织原则..................................................................27 5.1.2 投资决策团队的建立..........................................................................27 5.1.3 管理制度的建设..................................................................................28 5.1.4 流程的持续改进..................................................................................29 5.2 综合定性分析方法的应用.............................................................................29 5.2.1 房地产项目宏观经济分析..................................................................29 5.2.2 房地产项目市场分析...........................................................................36 5.2.3 房地产项目需求分析...........................................................................42 5.2.4 房地产项目 SWOT 分析 .....................................................................46 5.3 经济效益定量分析方法的应用.....................................................................49 5.3.1 房地产项目评估定价...........................................................................49 5.3.2 房地产项目成本估算...........................................................................50 5.3.3 房地产项目资金筹划方案..........................................................................55 5.3.4 房地产项目财务指标分析...................................................................56 5.3.5 房地产项目风险分析...........................................................................59 第 6 章 投资决策的实施与保障................................................................................64 6.1 实施方案........................................................................................................64 6.2 相关保障........................................................................................................64 6.2.1 人力保障..............................................................................................64 6.2.2 制度保障..............................................................................................65 6.2.3 资金保障..............................................................................................65 第 7 章 结论及展望....................................................................................................66 7.1 信立公司投资决策设计研究的基本结论....................................................66 7.2 展望................................................................................................................67