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After years of exploration , the British Venture Capital continues to grow, gradually showing their technological achievements into the UK and the important role of high-tech industrialization . Venture capital is specifically refers to the embryonic state investment in high-tech fields , such high-risk investments and high rates of return greater than traditional investments. Venture capital funds will eventually be assigned to specific projects, since the majority of venture capital projects arising from technological innovation of high-tech projects in the past in the same industry with little or no historical data , so the course of the project in addition to general project risk , it also has its own particularity. Ventures throughout the course of the project due to mismanagement and the risk of failure in investment referred to as venture capital management risk, mainly as follows: organizational risk , decision-making risk , process risk. Scientific management risk control , for the effective use of risk investment as a tool for the transformation of scientific and technological achievements , the risk of investment projects to achieve the best overall economic benefits, has important practical significance.
通过多年的研究,英国风险投资事业在不断进展壮大,渐渐显露出其对英国科学技术成果转化及高新技术产业化的关紧效用。风险投资是专指萌芽状况中的高科技领域的投资,这种投资的高风险性和高回报率要大于传统意义上的投资。
First, team building --- the core work organizational risk control首先，团队建设---组织风险控制的核心工作
Risk investments are mainly based on technological innovation , the growth of the project faster , if not timely to strengthen the organizational management of the project will result in rapid expansion and organizational structure behind the conflict , became the source of risk .
风险投资项目主要以科技改革为主,项目标提高速度比较快,假如比不过时增强公司的团体管理,便会导致项目规模高速膨胀与团体结构滞后的矛盾,变成风险的溯源。Venture Capital as a knowledge economy and society in technological innovation and financial innovation combined to generate a new thing , its success depends largely on the management of the organization . Compared with the traditional project risk investment projects within the project organization requires not only a high quality personnel , have some experience in project management , the project has a higher risk awareness , and this knowledge and skills in project implementation in use can be fully coordinated . The only high-performance project teams in order to achieve this fully coordinated , so the risk control project organization , team building is very important. Team of the existing traditional organizational structure introduced , changing the organizational process of the implementation approach. Ie organizational process into a major component of the enterprise rather than functional departments , the project manager has become a " process owner ." In order to engage in the project were able to produce high quality products or services , the team should be used to get around the focus of the construction process streams . If the project staff and work requirements do not match , there is a conflict , low morale , it will affect the performance of the project team to play , and even make the smooth implementation of the project blocked , causing huge economic losses. As a project manager , if you can allow participants to create an appropriate environment for play to their abilities , the project will raise the height of the loyalty of members to enhance project team performance of the play . For the establishment of an efficient project team, we need to understand its main driving force and obstacles.创投作为一个知识型经济和社会的科技创新和金融创新相结合，产生一个新的事情，它的成功在很大程度上取决于管理的组织。与传统的工程项目组织内的风险投资项目相比，不仅需要高素质人才，有一定的项目管理经验，该项目具有较高的风险意识，并在项目实施过程中使用这方面的知识和技能，能充分协调。只有高性能的项目团队充分协调，为了实现这一目标，因此风险控制项目组织，队伍建设是非常重要的。团队介绍，现有的传统的组织结构改变组织实施办法的过程。即组织过程变成企业的一个重要组成部分，而不是职能部门，项目经理已经成为一个“过程的主人。 ”为了搞项目中，能够生产高品质的产品或服务，团队应该被用来获取围绕施工过程流的焦点。如果该项目的工作人员和工作要求不匹配，有冲突，士气低落，它会影响到项目组的性能发挥，甚至使该项目的顺利实施封锁，造成巨大的经济损失。作为一个项目经理，如果你可以让参与者发挥自己的能力创造一个合适的环境，该项目将提高成员的忠诚度的高度，以增强项目团队性能的发挥。对于建立一个高效的项目团队，我们需要了解它的主要驱动力和障碍。
Driving force is associated with the project environment positive factors that can enhance team effectiveness and team performance they are positively correlated . Disorder is associated with the project environment negative factors , they are considered to hinder the performance of the team , is statistically the same performance is negatively correlated. A confidence level of 95 % or more , these teams and team performance characteristics there is a high correlation between . Drivers and barriers through the grasp of the exclusion to create high-performance project teams is a key element of organizational risk control is very necessary conditions for project success .
Second, the project evaluation --- the primary decision-making risk control work
Many venture capitalists British heavy losses , largely because investment project itself deficiencies are caused by mistakes in investment decisions . Project risk is the risk of making poor decisions because of the risks . Since risk projects with large investment , high technology content, product updates and quickness , making decisions for the project is particularly important when making mistakes will be a direct result of the failure of the project .
Value of investment projects on risk assessment is the key to investment decisions , if during the valuation process, relying on venture capitalists, market experience and intuition to make decisions , make the results of the assessment there is a certain one-sidedness . Because the risk investment projects contain uncertainty and risk is far greater than traditional investment project, so how to simulate the perspective of risk and the ability to reflect the value of the scope of this risk predictive value of risk is a key investment decision . The value of a comprehensive assessment of the work depends largely on the industry of the enterprise and its understanding of the general economic environment , choose the correct valuation methods , have more financial , statistical data, using scientific attitude to careful analysis and forecasting , to get real reliable conclusions . Investment projects because the risk is relatively small historical financial data , or if no comparable project data , evaluation should be used for similar projects and their own historical data of alternative methods. Access to data in similar projects , but also consider the degree of similarity between items , and information richness , stability . Select the appropriate financial data , the next job is to predict the expected cash flows from the project and selected projects or capital costs necessary to yield ( discount rate ) . In order to calculate the difference caused by the timing of the project 's cash flow, discounted cash flow method requires the use of the cash flows from different points in time to adjust to a unified point for comparison. Expected cash flow estimates project specific tasks include: analysis of financial position, calculate net operating profit after adjustments and investment costs, enterprises were audited statement of cash flows for detailed analysis ; understand the business 's strategic position and products market share ; develop performance prospects ; predict individual details of subjects ; examine the reasonableness of the overall forecast and authenticity ; combination of business history, present and future, and risk analysis and forecasting results expected cash flow businesses adapt to this is calculated based on the net present value of the project . Estimation and yield adjustments necessary tasks include: equity capital cost estimate ; debt capital cost estimates ; determine the target market value weights ; estimated rate of return of different companies with the average return of the market situation changes ; estimated opportunity cost requirements according to minimum funding margins ; investment projects with specific risk and return into the corporate rate of return required to achieve them , the formation of risk-adjusted discount rate , and thus a reasonable discount rate selected .
Enterprises in the identification and assess investment risk , the investment program for selected , but also for its possible risks , the use of leverage , coordinate operational risks and financial risks . As business risk is a project the main determinant of the cost of capital , and because of technology, efficiency and production factors , businesses often can not control the project's operating leverage , which we need to take advantage of total leverage , operating leverage and financial leverage of the three inter-relationship , using a combination of a limited degree of leverage to control the firm's total risk.
Third, the use of information technology --- the implementation of risk control process
Project is a continuous process , risk projects often originated in an idea, and adopt a conceptual form , requires sufficient material elements , enabling organizations to key decision makers in the selection of the project . Throughout the course of the project , the different stages will encounter a variety of problems , and in a continuous life-cycle model, emphasizing the risk management process of the necessity of the project .
Risk investment projects due to its expected market volume often can not be determined in advance , so that the process of project management further increase the difficulty , resulting in risk , the risk -risk projects throughout the entire life cycle. For investment projects at risk characteristics of each stage of the project should not only meet the tasks to be completed , as the course of the project must be changes in the environment for the redistribution of resources and project parameter adjustment . According to this change in the intensity of the performance , requires the project manager assigned to the project by changing the work of the mixing and resources to make a dynamically reflect accordingly . The work we can establish an effective enterprise risk management information system to carry out. Establish an effective enterprise risk management information system (EnterpriseRiskManagementInformationSystems) management information system is a new field . Operational needs of any enterprise information , from project planning , organizing, leading and controlling decisions must be based on timely and appropriate information . Information flow in terms of quality and speed is a critical factor , with these, in order to effectively and efficiently use resources to meet project requirements . Risks arising from incomplete information , so in order to optimize the enterprise risk management system will optimize the entire information flow . Project Risk Information collation and management of risks associated with the generation of information collection, processing and transmission process unfold . This information includes both the risk management theory and methods of management support information, including the project 's own risk and risk management policies as well as outside the enterprise information risk management can provide support to enterprises and other information, is a full three-dimensional nature of the information network. With risk management information systems, risk management organizer can accurately identify and coordinate risk management activities , according to the report of the organization's future effectiveness of risk control programs and other activities. For each phase of the work, information users can draw on the work at the interface level of risk , this risk clearly positive and negative consequences , you can also find other business risk management strategies, the best risk management practices and risk assessment tools . For example, in the project planning stage , enter the information content of the project , the query system will provide a logical tree structure , while noting that the project must work elements of the project can draw on the other hand, provide information, and plans to implement a network simulation flow and so on. According to the intensity of the performance risk , the project manager assigned to the project by changing the work of the mixing and resources to make a dynamically reflect accordingly . According to the ratio of new resources , the project cost, time and performance parameters should be adjusted , that is has completed the re- arrangement of new data unfinished stage. Through the course of the project risk dynamics, timely control, you can ensure that the project milestones to achieve the greatest degree .
Risk investment project risk management starts at the investigation and evaluation phase of the project , after the end of the project quit , the risk of investment projects throughout the entire operation . According to the situation changes, the risk management of investment projects for a reasonable risk analysis , to grasp the key factors causing risk , timely and effective control , to avoid and reduce risks and ensure the realization of expected economic benefits .
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