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  • 91. UD]ODJD HOHPHQWRY WUDMQRVWQHJD JRVSRGDUMHQMD Y QDFLRQDOQLK UD]PHUDK WHU F
  • 92. GRORþLWHY HOHPHQWRY WUDMQRVWQHJD JRVSRGDUMHQMD PLãOMHQD MH ]ODVWL GRORþLWHY QDFLRQDOQLK ND]DOQLNRY LQ VPHUQLF
  • 93. 3RVHEHM MH SULSRURþHQD WXGL SLORWQD ãWXGLMD NL QDM EL ELOD XSRUDEHQ LQVWUXPHQW SUL UD]YRMX WHJD SURFHVD   ]ODVWL ]D SUHL]NXãDQMH LQ XWHPHOMHYDQMH SULPHUQRVWL SUHGODJDQLK QDFLRQDOQLK FHUWLILNDFLMVNLK PHULO ]D VSUHMHWMH V VWUDQL 3()
  • 94. NDNRU WXGL ]D VWURãNRYQR RYUHGQRWHQMH SUHGODJDQHJD VLVWHPD FHUWLILNDFLMH 3RY]HWHN YVHELQH 2NYLUQD YVHHYURSVND PHULOD QD NDWHULK WHPHOMLMR WDNR ND]DOQLNL NRW VPHUQLFH WUDMQRVWQHJD JRVSRGDUMHQMD VR QDVOHGQMD
  • 95. RKUDQMDQMH LQ SULPHUQD NUHSLWHY JR]GQLK YLURY WHU QMLKRY SULVSHYHN K JOREDOQLP NURJRWRNRP RJOMLND
  • 96. RKUDQMDQMH ]GUDYMD LQ YLWDOQRVWL JR]GQLK HNRVLVWHPRY
  • 97. RKUDQMDQMH LQ Y]SRGEXMDQMH SURL]YRGQLK IXQNFLM JR]GRY OHVQLK LQ QHOHVQLK
  • 98. Y]GUåHYDQMH RKUDQMDQMH LQ SULPHUQR SRYHþHYDQMH ELRWVNH SHVWURVWL Y JR]GQLK HNRVLVWHPLK
  • 99. Y]GUåHYDQMH LQ SULPHUQD NUHSLWHY YDURYDOQLK IXQNFLM SUL JRVSRGDUMHQMX ] JR]GRP ]ODVWL YDURYDQMH WDO LQ YRGH
  • 100. Y]GUåHYDQMH GUXJLK VRFLRHNRQRPVNLK IXQNFLM LQ SRJRMHY 9VHELQD YVHHYURSVNLK ND]DOQLNRY WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRYL Y RNYLUX JRUQMLK PHULO MH RNYLUQR SUHGVWDYOMHQD Y WDEHOL ãW Y QDVOHGQMHP SRGSRJODYMX
  • 101. SRGUREQR SD Y SULORJL ãW WH ãWXGLMH VNXSDM V VORYHQVNLP SUHGORJRP 9 WDEHOL ãW MH ]DUDGL REVHåQRVWL SUHGVWDYOMHQD OH UDYHQ GR SRGPHULO NRQFHSWQLK SRGURþLM
  • 102. NYDQWLWDWLYQL LQ GHVNULSWLYQL ND]DOQLNL SD VR SRGDQL OH ãWHYLOþQR 9VHHYURSVNH RSHUDWLYQH VPHUQLFH WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRY VR SRGREQR NRW ND]DOQLNL RSUHGHOMHQH SR SRVDPH]QLK PHULOLK LQ VLFHU ORþHQR QD VPHUQLFH ]D JR]GQRJRVSRGDUVNR QDþUWRYDQMH LQ VPHUQLFH ]D JR]GQRJRVSRGDUVNR SUDNVR 9HþLQD WHK 6NODGQR ] QDMQRYHMãLPL SULSRURþLOL HNVSHUWQH VNXSLQH ]D L]EROMãHYDQMH YVHHYURSVNLK FHUWLILNDFLMVNLK ¡ RNYLURY 3() )LQDO 5HSRUW ,1'8)25
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  • 105. 6ORYHQVNL FHUWLILNDFLMVNL VWDQGDUGL ]D WUDMQRVWQR JRVSRGDUMHQMH ] JR]GRYL WHPHOMLMR QD YVH HYURSVNL VKHPL PHULO LQ ND]DOQLNRY WUDMQRVWQHJD JRVSRGDUMHQMD WHU RSHUDWLYQLK VPHUQLF /HWH XVWUH]QR SULODJRGLPR LQ GRSROQLPR ] QDãLPL VWDQGDUGL 7DNãQL QDFLRQDOQL VWDQGDUGL WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRYL ODKNR VOXåLMR NRW HQRWQR L]KRGLãþH ]D YVH SRWHQFLDOQH FHUWLILNDFLMVNH VKHPH QSU )6
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  • 112. 3URFHV XVNODMHYDQMD LQ UD]YRMD PHULO VWDQGDUGRY
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  • 117. =D SUHVRMDQMH VNODGQRVWL JRVSRGDUMHQMD V VSUHMHWLPL PHULOL VWDQGDUGL
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  • 122. )RUXP NRW QHIRUPDOQR GHORYQR VNXSLQR NL EL XVNODMHYDOD QDFLRQDOQD PHULOD VWDQGDUGH
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  • 125. .PHWLMVNR JR]GDUVND ]ERUQLFD JR]GDUVNL GHO
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  • 130. VNODGQR ] ]JRUDM SUHGODJDQLP SUYLP LQ GUXJLP L]KRGLãþHP EL ELOR ODKNR ãWHYLOR SUHGODJDQLK LQWHUHVQLK QHYODGQLK
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  • 132. VNODGQR ] ]JRUDM SUHGODJDQLP WUHWMLP L]KRGLãþHP SD YHþMH 9 YVDNHP SULPHUX SD EL ± ]DUDGL YVHELQVNH QDUDYH SUHYODGRYDOL SUHGVWDYQLNL ªJR]GQLK© LQWHUHVRY 3RY]HWHN YVHELQH 3UHGORJ PHULO LQ ND]DOQLNRY WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRYL Y 6ORYHQLML SULORJD ãW WH ãWXGLMH RNYLUQL SUHJOHG Y WDEHOL WHJD SRGSRJODYMD
  • 133. YNOMXþXMH HNRORãNH HNRQRPVNH LQ VRFLDOQH YLGLNH WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRYL XSRãWHYD YVD PHGQDURGQD L]KRGLãþD YVH HYURSVND PHULOD LQ ND]DOQLNH
  • 134. GRPDþH SUDYQH VWUDWHãNRSROLWLþQH LQ VWURNRYQRLQIRUPDFLMVNH SRGODJH QDãR JR]GDUVNR WUDGLFLMR ODVWQLãNR UD]GUREOMHQRVWMR WHU RUJDQL]DFLMR LQ SUDNVR VRQDUDYQHJD
  • 135. JRVSRGDUMHQMD ] JR]GRYL 3UHGORJ WHPHOML ± SRGREQR NRW L]KRGLãþQL YVH HYURSVNL ± QD ãHVWLK PHULOLK WUDMQRVWQHJD JRVSRGDUMHQMD NL VR UD]GHOMHQD QD SRVDPH]QD NRQFHSWQD SRGURþMD ªFRQFHSW DUHDV©
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  • 148. NDåH GD MH ãWHYLOR QDãLK ND]DOQLNRY QSU ELVWYHQR YHþMH RG ãYLFDUVNHJD âYLFD LPD VNXSQR YLVRNR DJORPHULUDQLK ND]DOQLNRY ]DWR MH SULPHUOMLYRVW QHSRSROQD
  • 149. QHNROLNR PDQMãH RG DYVWULMVNHJD $YVWULMD LPD ND]DOQLNRY
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  • 151. 1D YVDN QDþLQ SD MH QDã SUHGORJ ± WDNR NRW WXGL ND]DOQLNL GUXJLK GUåDY RGUD] QDFLRQDOQH VSHFLILNH 3UHGORJ VPHUQLF ]D WUDMQRVWQR JRVSRGDUMHQMH ] JR]GRYL Y 6ORYHQLML SULORJD ãW WH ãWXGLMH
  • 152. Y FHORWL WHPHOML QD YVHHYURSVNLK RSHUDWLYQLK VPHUQLFDK NDWHULP VR GRGDQH XVWUH]QH VORYHQVNH VPHUQLFH ]ODVWL QD SRGODJL 135*
  • 153. 9VHEXMH VNXSQR XVPHULWHY ]D QDþUWRYDQMH LQ ]D SUDNVR JRVSRGDUMHQMD
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  • 159. QHOHVQL JR]GQL SURL]YRGL 9]GUåHYDQMH RKUDQMDQMH LQ VSORãQL SRJRML VSORãQL SRJRML SULPHUQR SRYHþHYDQMH ELRWVNH UHSUH]HQWDWLYQL UHGNL LQ UDQOMLYL JR]GQL UHSUH]HQWDWLYQL UHGNL LQ UDQOMLYL JR]GQL SHVWURVWL Y JR]GQLK HNRVLVWHPL HNRVLVWHPL KDELWDWQL WLSL LQ QDUDYQH YUHGQRWH HNRVLVWHPLK RJURåHQH YUVWH RJURåHQH YUVWH LQ QMLKRYL KDELWDWL ELRWVND SHVWURVW Y SURL]YRGQLK JR]GRYLK ELRWVND SHVWURVW Y SURL]YRGQLK JR]GRYLK 9]GUåHYDQMH LQ SULPHUQD VSORãQR YDUVWYR VSORãQR YDUVWYR NUHSLWHY YDURYDOQLK IXQNFLM SUL WDOQD HUR]LMD WDOQD HUR]LMD JRVSRGDUMHQMX ] JR]GRP RKUDQMDQMH YRGH Y JR]GRYLK RKUDQMDQMH YRGD Y JR]GRYLK ]ODVWL YDURYDQMH WDO LQ YRGH
  • 160. 9]GUåHYDQMH GUXJLK VRFLR SRPHPEQRVW JR]GQHJD VHNWRUMD VSORãQRGUXåEHQL SRPHQ JR]GRY HNRQRPVNLK IXQNFLM LQ UHNUHDFLMVNH VWRULWYH HNRQRPVNL SRPHQ JR]GDUVNHJD VHNWRUMD SRJRMHY PRåQRVWL ]D ]DSRVORYDQMH UHNUHDFLMVNH VWRULWYH UD]LVNDYH LQ SRNOLFQR L]REUDåHYDQMH PRåQRVWL ]D ]DSRVORYDQMH R]DYHãþHQRVW MDYQRVWL UD]LVNDYH LQ SRNOLFQR L]REUDåHYDQMH VRGHORYDQMH MDYQRVWL REYHãþHQRVW MDYQRVWL NXOWXUQH YUHGQRWH VRGHORYDQMH MDYQRVWL NXOWXUQH YUHGQRWH 6.83$- ãWHYLOR
  • 161. 3RGUREHQ SULND] PHULO NRQFHSWQLK SRGURþLM LQ ND]DOQLNRY SULND]XMH SULORJD ãW WH ãWXGLMH ¢ ¢ £ ¢ 6ORYHQVNH VSUHPHPEH LQ GRSROQLWYH YVHHYURSVNLK RNYLURY VR SULND]DQH Y OHåHþHP WHNVWX
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  • 232. R]QDþHQD NRW FHUWLILFLUDQD )L]LþQD VHJUHJDFLMD SD YNOMXþXMH IL]LþQR ORþHYDQMH OHVD L] UD]OLþQLK L]YRURY Y YVHK ID]DK WUDQVSRUWD SURL]YRGQMH LQ GLVWULEXFLMH 9 SULQFLSX R SRNULYD FHUWLILFLUDQH JR]GQH SURL]YRGH RG WRþNH NMHU GRORþHQD RUJDQL]DFLMD SUHY]DPH ODVWQLãWYR DOL NRQWUROR QDG WHPL SURL]YRGL GR QDVOHGQMHJD þOHQD Y SURL]YRGQL YHULJL OHVD DOL SD GR NRQþQHJD XSRUDEQLND 9HULILNDFLMD SURL]YRGQH YHULJH OHVD VH ]DKWHYD ]D YVD SUHGHORYDOQD SRGMHWMD Y SURL]YRGQL YHULJL LQ WUJRYVND SRGMHWMD NL L]YDMDMR SUHSDNLUDQMH VLFHU R]QDþHQLK ODEHOLUDQLK
  • 233. SDNHWRY SURL]YRGRY 6LVWHP 3()R RG SRGMHWLM ]DKWHYD VLVWHP YHULILNDFLMH SRUHNOD OHVD LQDOL SURL]YRGD FHUWLILFLUDQR JRVSRGDUMHQMH ] JR]GRYL FHULILNDW R DOL GUXJ GRND] R L]YRUX OHVD
  • 234. 3UHG YVDNR QDVOHGQMR VWRSQMR SUHGHODYH PRUD ELWL ]DJRWRYOMHQ L]YRU OHVD LQDOL SURL]YRGD 9HULILNDFLMR R RSUDYOMD QHRGYLVQR FHUWLILNDFLMVNR WHOR NL MH DNUHGLWLUDQR V VWUDQL QDFLRQDOQHJD DNUHGLWDFLMVNHJD WHOHVD .RQWUROQL VLVWHP SRGMHWMD PRUD GHILQLUDWL RGJRYRUQR RVHER NL MH SRREODãþHQD ]D NRQWUROR SRVWRSNH ]D REGHODYR LQ VKUDQMHYDQMH LQIRUPDFLM WHU SRWUHEQH GRNXPHQWH REUD]FH
  • 235. 1D WDN QDþLQ MH RPRJRþHQ YSRJOHG Y NROLþLQH LQ GHOHåH FHUWLILFLUDQHJD OHVD LQ OHVQLK L]GHONRY GREDYH QD VNODGLãþLK WHU LQSXWH Y SURL]YRGQML LQ Y SULPHUX XSRUDEH VLVWHPD R]QDþHYDQMD OHVD V þUWQLPL NRGDPL HQRVWDYQR NRQWUROR 9 SULPHUX XSRUDEH PHWRG NL WHPHOMLMR QD GHOHåX FHUWLILFLUDQHJD OHVD Y SURL]YRGX VH ]D XJRWDYOMDQMH RGVWRWNRY XSRUDEOMD ERGLVL YROXPHQ DOL SD VXKD PDVD OHVD 9HULILNDFLMD FHUWLILNDWD R ODKNR SRWHND SUHNR 3() WHU SUHNR FHUWLILNDWRY VWDQGDUGRY ,62 ,62(0$6 NL YNOMXþXMHMR YHULILNDFLMR 2 WHU VR Y VNODGX V SULQFLSL 3() 6LVWHP FHUWLILFLUDQMD R MH VKHPDWLþQR SUHGVWDYOMHQ Y JUDILNRQX Y SULORJL ãW =DKWHYH R VH ODKNR QDQDãDMR QD UD]OLþQH ID]H SURL]YRGQLK SURFHVRY LQ ]D UD]OLþQH YUVWH SUHGHODYH OHVD HUWLILFLUDQ MH ODKNR FHORWHQ SURL]YRGL REUDW SRVDPH]QD SURL]YRGQD HQRWD DOL SD OH GHO SURL]YRGQMH 0RåQD MH PRGLILNDFLMD R FHUWLILNDFLMH ]D PDMKQH LQ VUHGQMH OHVQR SUHGHORYDOQD SRGMHWMD NL MR SUHGVWDYOMD VNXSLQVNR FHUWLILFLUDQMH NURYQLK RUJDQL]DFLM VNXSLQ SUHGHORYDOFHY OHVD SURGDMH OHVD
  • 236. .URYQD RUJDQL]DFLMD PRUD FHUWLILNDFLMVNHPX WHOHVX SUHGORåLWL OLVWR þODQRY ]GUXåHQMD SROHJ WHJD SD SUHY]DPH WXGL DGPLQLVWUDWLYQH GHMDYQRVWL 1DFLRQDOQR XSUDYQR WHOR YRGL UHJLVWHU YVHK SRREODãþHQFHY R]LURPD LPHWQLNRY FHUWLILNDWRY ]D R 3RREODãþHQH RUJDQL]DFLMH EL SR L]SROQLWYL UHJLVWUDFLMVNHJD IRUPXODUMD SODþLOX SULVWRMELQH LQ SUHGORåLWYL FHUWLILNDWD SULGRELOH UHJLVWUDFLMVNR ãWHYLONR LQ SRWUGLOR GD VR ]DYHGHQH Y UHJLVWUX FHUWLILFLUDQLK SRREODãþHQLK RUJDQL]DFLM
  • 237. 1DFLRQDOQD L]KRGLãþD 1D QDFLRQDOQL UDYQL VH PRUDMR XSRãWHYDWL GRORþLOD VWDQGDUGD R3() NL VR RSUHGHOMHQD Y WHKQLþQHP GRNXPHQWX 0RåQRVWL PRGLILNDFLMH QD QDFLRQDOQL UDYQL VR PRþQR RPHMHQH NDU SRWUMXMHMR WXGL QDFLRQDOQL VWDQGDUGL R3() GUXJLK HYURSVNLK GUåDY 1DYRGLOD SUHYRG DQHNVD ãW
  • 238. LQWHUSUHWDFLMH SULND] RUJDQL]DFLMH 3()R WHU WXMLK L]NXãHQM ]ODVWL Y SRJOHGX PRGHORY FHUWLILFLUDQMD R PDMKQLK LQ VUHGQMLK SRGMHWLM WHU VWURNRYQH SRGODJH ]D WRYUVWQD VORYHQVND QDYRGLOD VR SULND]DQD Y SULORJL ãW WH ãWXGLMH %ODJRYQD ]QDPND 3() LQ ORJRWLS 3() L]KRGLãþD 3UDYLOD LQ VPHUQLFH NL ]DGHYDMR EODJRYQR ]QDPNR 3() LQ ORJR VR SRGDQD Y DQHNVX ãW WHKQLþQHJD GRNXPHQWD 9 QMHP MH VSHFLILFLUDQR NGR MH ODVWQLN LQ XSUDYOMDYHF ORJD NGR LPD SUDYLFR XSRUDEH EODJRYQH ]QDPNH LQ ORJD NDWHUH ]DKWHYH VR YNOMXþHQH Y ORJR QD NDNãHQ QDþLQ RQ DOL RIISURGXFW
  • 239. VH ODKNR XSRUDEOMD LQ NDNãQH VR VSHFLILNDFLMH Y ]YH]L ] UHSURGXNFLMR ORJD Y WLVNDQLK LQ SXEOLFLUDQLK REOLNDK 6NXSQL NROHNWLY EODJRYQH ]QDPNH LQ ORJD MH UHJLVWULUDQ LQ Y ODVWL 3() 8SRUDEOMDWD VH ODKNR NRW NRPXQLNDFLMVNR VUHGVWYR NL YNOMXþXMH WXGL R]QDþHYDQMH SURL]YRGRY NL L]KDMDMR L] FHUWLILFLUDQLK JR]GRY 3RVHEQD SUDYLOD ]D XSRUDER EODJRYQH ]QDPNH GRJRYRUMHQD PHG QDFLRQDOQLPL WHOHVL VR SRGUREQHMH SRGDQD Y QDYHGHQHP DQHNVX 3() ORJR VH ODKNR XSRUDEOMD QD GYD UD]OLþQD QDþLQD LQ VLFHU NRW GHNODUDFLMD QD SURL]YRGX QD R]QDNL QD VDPHP SURL]YRGX DOL NRW åLJ QD RNURJOHP OHVX
  • 240. DOL QD GRNXPHQWDFLML VSUHPOMDMRþL GRNXPHQWL VSORãQL GRNXPHQWL
  • 241. 9 RGYLVQRVWL RG PHWRGH QD NDWHUL ED]LUD YHULILNDFLMD R VH ORJRWLS ODKNR GRSROQL LQ VLFHU ] EHVHGLORP SRVSHãHYDQMH WUDMQRVWQHJD JRVSRGDUMHQMD ] JR]GRYL ]D LQSXWRXWSXW VLVWHP LQ PLQLPDOQL SRYSUHþQL SURFHQW
  • 242. DOL L] WUDMQRVWQR JRVSRGDUMHQLK JR]GRY ]D VLVWHP IL]LþQHJD ORþHYDQMD OHVD SUL NDWHUHP MH FHUWLILFLUDQHJD OHVD
  • 243. 9 ]YH]L ] EODJRYQR ]QDPNR LQ ORJRWLSRP 3() LPDMR QDFLRQDOQD XSUDYQD WHOHVD QDVOHGQMH QDORJH SUDYLFH ‰ XSRUDED ORJRWLSD ]D L]REUDåHYDOQH QDPHQH ‰ L]GDMDQMH VXE
  • 244. OLFHQF RE VRJODVMX 3() SR SRJRGEL
  • 245. LQ Y VNODGX ] QDYRGLOL ‰ YRGHQMH DåXUQHJD UHJLVWUD YVHK SRGHOMHQLK VXE
  • 247. WHU ]DJRWRYLWHY HOHNWURQVNH SRYH]DYH V 3() VHNUHWDULDWRP
  • 248. 1DFLRQDOQD L]KRGLãþD 1D QDFLRQDOQL UDYQL VH PRUD XSRãWHYDWL GRORþLOD WHKQLþQHJD GRNXPHQWD R]LURPD QDYRGLO Y QMHJRYL SULORJL ãW 6LVWHP UDEH ORJRWLSD 3() MH VKHPDWLþQR SULND]DQ Y JUDILNRQX Y SULORJL ãW 3UHYRG SRGUREQLK QDYRGLO LQWHUSUHWDFLMD RUJDQL]DFLMD SULND] WXMLK L]NXãHQM LQ VWURNRYQH SRGODJH ]D WRYUVWQD VORYHQVND QDYRGLOD VR SULND]DQD Y SULORJL ãW WH ãWXGLMH 35('/2* 25*$1,=,5$1267, 3() 6/29(1,-$ 3() ,=+2',âý$ )XQNFLRQLUDQMH VKHPH 3() QD PHGQDURGQL UDYQL LQ NRRUGLQDFLMD ] QDFLRQDOQLPL XSUDYQLPL WHOHVL MH ]DJRWRYOMHQR SUHNR 6YHWD 3() 3()
  • 249. 2UJDQL]DFLMVNH XUHGLWYH VR GRORþHQH V VWDWXWL 0HGQDURGQR XSUDYQR WHOR 3() MH RUJDQL]LUDQR Y REOLNL QHSURILWQH QHYODGQH RUJDQL]DFLMH V VYRMLP VHGHåHP Y /XNVHPEXUJX JOHM 6WDWXW 3()
  • 250. 6NODGQR V WDPNDMãQMR ]DNRQRGDMR LPD VYRMH XSUDYQH RUJDQH *HQHUDOQR VNXSãþLQR LQ 2GERU GLUHNWRUMHY ýODQLFH 3() R]LURPD *HQHUDOQH VNXSãþLQH VR QDFLRQDOQD XSUDYQD WHOHVD 3() þH YDQM SULVWRSLMR SODþDMR þODQDULQR
  • 251. ýODQLFH LPDMR RG HQHJD GR WUHK JODVRY RGYLVQR RG QMLKRYH YHOLNRVWL PHUMHQH Y PLOLMRQLK NXELþQLK PHWURY OHWQHJD SRVHND GR ± LQ !
  • 252. 9 RNYLUX XSUDYQHJD WHOHVD 3() VR REOLNRYDQMH SRVDPH]QH GHORYQH VNXSLQH QSU ]D VWDQGDUGH
  • 253. 8SUDYQRDGPLQLVWUDWLYQH LQ GUXJH QDORJH ]D XSUDYQR WHOR RSUDYOMD *HQHUDOQL VHNUHWDULDW 9 WHKQLþQLP GRNXPHQWX 3() MH GRORþHQR GD V FLOMHP NRQVWLWXLUDQMD QDFLRQDOQHJD XSUDYQHJD WHOHVD RUJDQL]DFLMH ODVWQLNRY JR]GRY SRYDELMR GUXJH RUJDQL]DFLMH UHOHYDQWQLK ]DLQWHUHVLUDQLK VWUDQL 6WDWXW QDFLRQDOQHJD XSUDYQHJD WHOHVD VH SRãOMH Y RGREULWHY 6YHWX 3() 25*$1,=,5$1267 3() 6/29(1,-$ 8SUDYQR WHOR 3() 6ORYHQLMD 1DãHPX SUHGODJDQHPX SULVWRSX ]ODVWL SUL FHUWLILNDFLML JR]GRY QDMEROM RGJRYDUMD UDFLRQDOQD FHQWUDOL]LUDQD REOLND RUJDQL]LUDQRVWL XSUDYQHJD WHOHVD 3() 6ORYHQLMD 8SUDYQR WHOR EL VH ODKNR RUJDQL]LUDOR XVWDQRYLOR NRW QHYODGQD LQ QHSURILWQD RUJDQL]DFLMD SRGREQR NRW MH WR 3()
  • 254. 7DNãQD RUJDQL]DFLMD EL YVDM Y ]DþHWNX SRWUHERYDOD XVWUH]QR SRGSRUR JODYQLK ]D FHUWLILNDFLMR ]DLQWHUHVLUDQLK VWUDQL ± WDNR QD VWUDQL JR]GRY NRW WXGL QD VWUDQL OHVQRSUHGHORYDOQH YHULJH VDM EUH] QMH FHUWLILNDFLMD QH ER ]DåLYHOD *OHGH QD WR GD MH FHUWLILNDFLMD ± NRW WUåQRVSRGEXMHYDOQL PHKDQL]HP ± WXGL Y QDFLRQDOQHP LQWHUHVX EL VYRMR ]DJRQVNR SRGSRUR WDNR NRW MH WHPX SURMHNWX
  • 255. ODKNR ]DJRWDYOMDOD WXGL GUåDYD 9VH WR EL ELOR QDMODåMH Y QHYODGQL REOLNL RUJDQL]LUDQRVWL
  • 256. 0RåQD REOLND RUJDQL]LUDQRVWL XSUDYQHJD WHOHVD ª3() 6ORYHQLMD© EL ODKNR ELOD WXGL JRVSRGDUVNR LQWHUHVQR ]GUXåHQMH NL EL JD YVDM ]DJRQVNR
  • 257. ILQDQFLUDOL YVL WLVWL þODQL NL LPDMR LQWHUHV ]D FHUWLILNDFLMR 7DNãQR ]GUXåHQMH QDM EL VH NDVQHMH NR EL SURFHV FHUWLILNDFLMH ]DåLYHO ILQDQFLUDOR VDPR 0RåQRVWL GUåDYQH ]DJRQVNH
  • 258. SRGSRUH VR Y WHP SULPHUX PDQMãH UD]HQ PRUGD SUHNR PRUHELWQLK
  • 259. UD]YRMQLK SURMHNWRY ]D NDWHUH EL VLFHU ODKNR NRQNXULUDOR WDNãQR ]GUXåHQMH 7DNãQD RUJDQL]DFLMD EL LPHOD VYRM XSUDYQL RUJDQ QSU 2GERU
  • 260. NL EL ELO VHVWDYOMHQ L]PHG SUHGVWDYQLNRY ]DLQWHUHVLUDQLK VWUDQL LQ 6HNUHWDULDW ] PLQLPDOQLP ãWHYLORP GHODYFHY Y RSWLPDOQL VHVWDYL QSU V VWURNRYQLP VHNUHWDUMHP LQ GYHPD VWURNRYQLPD UHIHUHQWRPD ]D FHUWLILNDFLMR JR]GRY LQ R WHU XSUDYQRDGPLQLVWUDWLYQLP VRGHODYFHP Y ]DþHWNX QSU OH V VHNUHWDUMHP
  • 261. 3ROHJ XSUDYQHJD RUJDQD LQ 6HNUHWDULDWD EL RUJDQL]DFLMD 3() 6ORYHQLMD LPHOD GRORþHQH VWURNRYQH NRPLVLMH QSU VWURNRYQR NRPLVLMR ]D VWDQGDUGH NDNUãHQ MH åH VDP )RUXP
  • 262. SRWUHEQD SD EL ELOD QSU WXGL SRVHEQD NRPLVLMD ]D UD]UHãHYDQMH VSRURY SUL FHUWLILNDFLML 5HJLRQDOQH RUJDQL]LUDQRVWL ª3() 6ORYHQLMD© QH SUHGYLGHYDPR 2UJDQL]DFLMD ª3() 6ORYHQLMD© QDM EL VH Y SULPHUX FHUWLILNDFLMH JR]GRY QDVORQLOD ]ODVWL QD RUJDQL]DFLMR .*= LQ QD 6.=*
  • 263. NL EL ]D SRWUHEH 3() RSUDYOMDOD QHNDWHUH QDORJH Y SULPHUX FHUWLILNDFLMH SURL]YRGQH YHULJH SD QD XVWUH]QR WRYUVWQR ]GUXåHQMH R]LURPD *RVSRGDUVNR ]ERUQLFR Y NDWHUH VHVWDYL VR YVH OHVQRSUHGHORYDOQH GHMDYQRVWL 0RåQD VKHPD RUJDQL]LUDQRVWL 3() 6ORYHQLMD ]D FHUWLILNDFLMR JR]GRY
  • 264. MH Y SULORJL ãW WH ãWXGLMH HUWLILNDFLMVNR WHOR 9 SURFHVX FHUWLILFLUDQMD QDVWRSDMR WUL VWUDQL 6WUDQ NL L]GHOD GRORþHQ VWDQGDUG WR EL ELOD RUJDQL]DFLMD 3() 6ORYHQLMD
  • 265. 3URVLOHF ]D L]GDMR FHUWLILNDWD R L]SROQMHYDQMX ]DKWHY VWDQGDUGD QSU SRREODãþHQHF ODVWQLNRY JR]GRY DOL NURYQD RUJDQL]DFLMD ]GUXåHQMH OHVQRSUHGHORYDOQLK SRGMHWLM
  • 266. HUWLILNDFLMVNR WHOR NL L]GD FHUWLILNDW R L]SROQMHYDQMX ]DKWHY GRORþHQHJD VWDQGDUGD HUWLILNDFLMVNR WHOR PHVWR PRUD LPHWL SRWUHEQR WHKQLþQR ]QDQMH LQ UD]YLWH SURFHGXUH FHUWLILFLUDQMD HUWLILNDFLMVNR WHOR WUHWMD VWUDQ
  • 267. PRUD ELWL DNUHGLWLUDQR V VWUDQL QDFLRQDOQH DNUHGLWDFLMH 9 6ORYHQLML DNUHGLWDFLMR L]YDMD 6ORYHQVND DNUHGLWDFLMD 6$
  • 268. HUWLILNDFLMVNR WHOR NL L]YDMD FHUWLILFLUDQMH JR]GRY LQ SURL]YRGQH YHULJH
  • 269. PRUD L]SROQMHYDWL QDVOHGQMH SRJRMH ” LPHWL PRUD QDFLRQDOQR VORYHQVNR
  • 270. DNUHGLWDFLMR ]D VWDQGDUGH (1 LQ ,62 ” LPHWL PRUD UHIHUHQFH V SRGURþMD JR]GDUVWYD LQ OHVDUVWYD WHU ]QDQMD NL REVHJDMR QDWDQþQR SR]QDYDQMH FHUWLILNDFLMVNLK SRVWRSNRY LQ PHULO ]D FHUWLILFLUDQMH
  • 272. PRUDMR LPHWL QDMPDQM XQLYHU]LWHWQR VWURNRYQR L]REUD]ER 9,, VWRSQMD
  • 273. QDMPDQM SHWOHWQH L]NXãQMH Y JR]GDUVNL R]LURPD OHVDUVNL VWURNL WHU SR]QDYDQMH SRVWRSNRY LQ PHULO ]D FHUWLILFLUDQMH FHUWLILNDFLMVNH VKHPH
  • 274. HUWLILNDFLMVNR WHOR SUL QDV ODKNR QSU 6L4 %94, DOL NDNãQD QRYD DNUHGLWLUDQD RUJDQL]DFLMD
  • 275. SUHVRMD LQ FHUWLILFLUD JR]GRYH LQ SURL]YRGQR YHULJR R
  • 276. Y YVHK ID]DK Y VNODGX V NULWHULML LQ QDYRGLOL ]D FHUWLILNDFLMR FHUWLILNDFLMVNR VKHPR
  • 277. =D WH QDPHQH ODKNR GRORþL WXGL XVWUH]QR XVSRVREOMHQH ]XQDQMH SUHVRMHYDOFH 3RORåDM FHUWLILNDFLMVNHJD WHOHVD Y VSORãQL VKHPL FHUWLILFLUDQMD MH SULND]DQ Y SULORJL ãW WH ãWXGLMH VSHFLILND ]D R SD Y SULORJL ãW WH ãWXGLMH ),1$1,5$1-( ,1 6752â., 3() )LQDQFLUDQMH XSUDYQHJD WHOHVD    8SUDYQHPX WHOHVX 3() EL PRUDOH ]DLQWHUHVLUDQH VWUDQL YNOMXþQR GUåDYD
  • 278. QD ]DþHWNX ]DJRWRYLWL SRWUHEQR ]DJRQVNR ILQDQFLUDQMH NDVQHMH SD QDM EL VH ILQDQFLUDOR VDPR L] VYRMH GHMDYQRVWL
  • 279. 1D ]DþHWNX EL ELOR SRWUHEQR ]DJRWRYLWL VUHGVWYD YVDM ]D HQHJD GHODYFD LQ SRWUHEQH PDWHULDOQH LQ GUXJH VWURãNH ]D GHORYDQMH 6HNUHWDULDWD XVNODMHYDQMH GHOR )RUXPD
  • 280. WHU SULSUDYR FHUWLILNDFLMVNH VKHPH SODþLOR þODQDULQH Y 3() SODþLOR OLFHQFH 3() LWG 6WURãNL FHUWLILNDFLMH 6WURãNL FHUWLILNDFLMH JR]GRY LQ OHVQRSUHGHORYDOQH YHULJH ]D QRVLOFHY VWURãNRY
  • 281. QDVWDMDMR ]ODVWL ]DUDGL ” SULSUDYH WHKQLþQH GRNXPHQWDFLMH Y SULPHUX JR]GRY ]ODVWL REVHåQHJD WUDMQRVWQHJD SRURþLOD
  • 282. L]YHGEH SRVWRSNRY YHULILNDFLMH LQ FHUWLILFLUDQMD SUHVRM LQ SRQRYQLK SUHVRM
  • 283. WHU ” SODþLOD VXE
  • 284. OLFHQF ]D XSRUDER EODJRYQH ]QDPNH LQ ORJRWLSD 3() 9 SUYLK GYHK SULPHULK MH QRVLOHF VWURãNRY SRREODãþHQHF ODVWQLNRY JR]GRY DOL SRGMHWLM
  • 285. NL SURVL ]D FHUWLINDFLMR Y SULPHUL LQGLYLGXDOQH FHUWLILNDFLMH SD SRVDPH]QL ODVWQLN JR]GD QSU 6.=*
  • 286. DOL SRGMHWMH 9 WUHWMHP SULPHUX MH QRVLOHF VWURãNRY YHGQR SRVDPH]QL ODVWQLN R]LURPD SRGMHWMH NL VXE
  • 287. OLFHQFR ]D XSRUDER 3() EODJRYQH ]QDPNH LQ ORJRWLSD SULGREL SURWL SODþLOX SR SRJRGEL
  • 288. 6WURãNL FHUWLILNDFLMH JR]GRY VR RGYLVQL ]ODVWL RG VSUHMHWLK VWDQGDUGRY PHULO LQ ND]DOQLNRY
  • 289. JRVSRGDUMHQMD þDVRYQH GLQDPLNH SUHYHUMDQMD REVHJD SRWUHEQLK ]ODVWL GRGDWQLK
  • 290. SRGDWNRY WHU 3UHGORJ ILQDQFLUDQMD XSUDYQHJD WHOHVD VHYHGD QL VHVWDYQL GHO FHUWLILNDFLMVNH VKHPH MH SD QXMQR L]KRGLãþH ¡¢ ]D QMHJRYR Y]SRVWDYLWHY
  • 291. SRYUãLQH JR]GRY NL VH SUHVRMD =D QDã SULVWRS N FHUWLILNDFLML VWURãNRY ]DHQNUDW ãH QH PRUHPR SUHGYLGHWL 3RWUHEQD EL ELOD L]YHGED SLORWQHJD SULPHUD FHUWLILNDFLMH JR]GRY 3R L]NXãQMDK QHPãNH 3() FHUWLILNDFLMVNH VKHPH YHþLQD GUåDY VWURãNRY FHUWLILFLUDQMD Y VYRMLK    VKHPDK QH QDYDMD
  • 292. ]QDãDMR VWURãNL FHUWLILNDFLMH JR]GRY ]D SRVDPH]QHJD ODVWQLND DOL ]GUXåHQMH ]DþHWQLK (85 ]D L]GDMR FHUWLILNDWD
  • 293. SOXV (85KD OHWQHJD SULVSHYND (85KD OHW
  • 295. ODVWQLNL JR]GRY PDQMãL RG KD QH SODþXMHMR =D ãYLFDUVNL VLVWHP NL MH ]HOR VSHFLILþHQ NHU SULPDUQR YHOMD ]D ãYLFDUVNR ªEODJRYQR ]QDPNR ¡  4© NL ML OH GRGDMR ]QDPNR 3() VR ]QDQL VWURãNL LQGLYLGXDOQH FHUWLILNDFLMH JR]GQLK REUDWRY VWURãNL FHUWLILFLUDQMD SUHNR SRREODãþHQFHY SD VR GRJRYRUQL 6WURãNL FHUWLILNDFLMH JR]GQLK REUDWRY ] REYH]QRVWPL L]GHODYH JR]GQRJRVSRGDUVNLK QDþUWRY ]QDãDMR RG REUDWL KD
  • 296. GR 6)5 REUDWL ! KD
  • 297. ]D REUDWH EUH] REYH]QRVWL L]GHODYH JR]GQRJRVSRGDUVNLK QDþUWRY SD 6)5 LQ YHOMDMR ]D OHWQR REGREMH YHOMDYQRVWL FHUWLILNDWRY
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