EVALUATION OF ENGINEERING PROJECTS. 15-YEAR STUDY OF CONDITIONING CONDITIONS FOR FINANCIAL VIABILITY

Abstract

Project evaluation is a graduation competency for students in the Food Engineering and Industrial Engineering programs at the National University of Luján. The course "Engineering Projects" provides the academic framework for the formulation and evaluation of a final project for both programs since 2008. One of the critical elements in project evaluation is the so-called discount rate, which represents the cost of capital required for investment. Traditional methods for calculating this rate, widely used in academic settings, are suitable in stable economic contexts but do not respond equally well in crisis situations. The application of these methodologies can lead to results where the effects of the current economic situation can mask design errors or the inherent unfeasibility of the proposal. This study analyzes the impact of indicators such as inflation, exchange rates, interest rates, and Country Risk, among others, on the evaluation of end-of-course projects over a 15-year cycle. The analysis of variations in these indicators and their effects on investment decisions poses a challenge for competency-based training related to the evaluation of economic and financial viability in any context. It also raises the prospect of the need to assess alternative methodologies for determining the discount rate.