el manual

Anuncio
23(/,16,*1,$
0DQXDOGH,QVWUXFFLRQHV
&RQWHQLGR
,QWURGXFFLäQ (QSRFDVSDODEUDV /ODYHVSXHUWDV\YHQWDQLOODV $VLHQWRVVLVWHPDVGH
VHJXULGDG 3RUWDREMHWRV ,QVWUXPHQWRV\PDQGRV ,OXPLQDFLäQ &OLPDWL]DFLäQ &RQGXFFLäQ\PDQHMR &XLGDGRGHOYHKÞFXOR 6HUYLFLR\PDQWHQLPLHQWR 'DWRVWÚFQLFRV ,QIRUPDFLäQGHFOLHQWHV ¾QGLFHDOIDEÚWLFR ,QWURGXFFLäQ
,QWURGXFFLäQ
,QWURGXFFLäQ
'DWRVHVSHFÞILFRVGHO
YHKÞFXOR
3RUIDYRUDQRWHORVGDWRVGHVXYHಢ
KÞFXORHQODSÒJLQDDQWHULRUSDUDWHಢ
QHUORVDPDQR(VWDLQIRUPDFLäQHVWÒ
GLVSRQLEOHHQODVVHFFLRQHV6HUYLFLR
\PDQWHQLPLHQWR\'DWRVWÚFQLFRV
DVÞFRPRHQODSODFDGHFDUDFWHUÞVWLಢ
FDV
,QWURGXFFLäQ
6XYHKÞFXORUHSUHVHQWDXQGLVHâR
FRPELQDGRGHDYDQ]DGDWHFQRORJÞD
VHJXULGDGFRPSDWLELOLGDGHFROäJLFD\
HFRQRPÞD
(VWH0DQXDOGH,QVWUXFFLRQHVOHSURಢ
SRUFLRQDWRGDODLQIRUPDFLäQQHFHVDಢ
ULDSDUDFRQGXFLUHOYHKÞFXORGHIRUPD
VHJXUD\HILFLHQWH
,QIRUPHDORVRFXSDQWHVVREUHORVSRಢ
VLEOHVSHOLJURVGHOHVLRQHV\DFFLGHQಢ
WHVGHULYDGRVGHXQXVRLQFRUUHFWRGHO
YHKÞFXOR
6LHPSUHGHEHFXPSOLUODVOH\HV\ORV
UHJODPHQWRVGHOSDÞVSRUGRQGHFLUಢ
FXOH'LFKDVOH\HVSXHGHQGLIHULUGH
ODLQIRUPDFLäQFRQWHQLGDHQHOSUHಢ
VHQWH0DQXDOGH,QVWUXFFLRQHV
(OLQFXPSOLPLHQWRGHODGHVFULSFLäQ
IDFLOLWDGDHQHVWHPDQXDOSXHGHDIHFಢ
WDUDVXJDUDQWÞD
&XDQGRHVWH0DQXDOGH,QVWUXFFLRಢ
QHVKDFHUHIHUHQFLDDXQDYLVLWDDOWDಢ
OOHUOHUHFRPHQGDPRVTXHDFXGDD
VX5HSDUDGRU$XWRUL]DGR2SHO3DUD
ORVYHKÞFXORVGHJDVOHUHFRPHQGDಢ
PRVDFXGLUDXQ7DOOHU2SHODXWRULಢ
]DGRSDUDHOVHUYLFLRGHYHKÞFXORVGH
JDV
7RGRVORV5HSDUDGRUHV$XWRUL]DGRV
2SHOOHRIUHFHQXQVHUYLFLRH[FHOHQWH
DSUHFLRVUD]RQDEOHV3HUVRQDOH[SHಢ
ULPHQWDGRIRUPDGRSRU2SHOWUDEDMD
VHJëQODVLQVWUXFFLRQHVHVSHFÞILFDV
GH2SHO
/DGRFXPHQWDFLäQSDUDHOFOLHQWHGHಢ
EHUÞDHVWDUVLHPSUHDPDQRHQHOYHಢ
KÞFXOR
ထ
ထ
ထ
ထ
ထ
8VRGHOSUHVHQWHPDQXDO
ထ
(VWHPDQXDOGHVFULEHWRGDVODV
RSFLRQHV\IXQFLRQHVGLVSRQLEOHV
SDUDHVWHPRGHOR$
$OJXQDV
GHVFULSFLRQHVLQFOXLGDVODVGHOD
SDQWDOOD\ODVIXQFLRQHVGHO
PHQëSXHGHQQRVHUYÒOLGDV
SDUDVXYHKÞFXORDFDXVDGHOD
ထ
YDULDQWHGHOPRGHORODV
HVSHFLILFDFLRQHVGHOSDÞVHO
HTXLSDPLHQWRHVSHFLDORORV
DFFHVRULRV
/DVHFFLäQ(QSRFDVSDODEUDV
OHSURSRUFLRQDXQDSULPHUDYLVLäQ
GHFRQMXQWR
/DVWDEODVGHFRQWHQLGRVDOSULQಢ
FLSLRGHOPDQXDO\GHFDGDVHFಢ
FLäQOHD\XGDUÒQDORFDOL]DUODLQಢ
IRUPDFLäQ
(OÞQGLFHDOIDEÚWLFROHSHUPLWLUÒ
EXVFDULQIRUPDFLäQHVSHFÞILFD
(QHVWH0DQXDOGH,QVWUXFFLRQHV
VHUHSUHVHQWDQYHKÞFXORVFRQYRಢ
ODQWHDODL]TXLHUGD(OIXQFLRQDಢ
PLHQWRHVVLPLODUSDUDORVYHKÞಢ
FXORVFRQYRODQWHDODGHUHFKD
(O0DQXDOGH,QVWUXFFLRQHVXWLOL]D
HOFäGLJRGHLGHQWLILFDGRUGHOPRಢ
WRU/DGHVLJQDFLäQFRPHUFLDO\HO
FäGLJRGHLQJHQLHUÞDFRUUHVSRQಢ
GLHQWHVVHSXHGHQHQFRQWUDUHQ
ODVHFFLäQ'DWRVWÚFQLFRV
/DVLQGLFDFLRQHVGHGLUHFFLäQ
SHML]TXLHUGDRGHUHFKDGHಢ
ODQWHRGHWUÒVVHUHILHUHQVLHPಢ
SUHDOVHQWLGRGHPDUFKD
ထ
ထ
,QWURGXFFLäQ
(VSRVLEOHTXHODSDQWDOODQRVHD
FRPSDWLEOHFRQVXLGLRPDHVSHಢ
FÞILFR
/RVPHQVDMHVHQSDQWDOOD\ORV
UäWXORVLQWHULRUHVHVWÒQLPSUHVRV
HQQ
QHJULWD
3HOLJUR$GYHUWHQFLD\
$WHQFLäQ
3HOLJUR
(OWH[WRPDUFDGRFRQ3
3HOLJUR
RIUHFHLQIRUPDFLäQVREUHHOULHVJR
GHVXIULUOHVLRQHVIDWDOHV6LVHLJಢ
QRUDGLFKDLQIRUPDFLäQSXHGHKDಢ
EHUSHOLJURGHPXHUWH
$GYHUWHQFLD
(OWH[WRPDUFDGRFRQ
$GYHUWHQFLDRIUHFHLQIRUPDFLäQ
VREUHULHVJRVGHDFFLGHQWHVROHಢ
VLRQHV6LVHLJQRUDGLFKDLQIRUPDಢ
FLäQSXHGHKDEHUULHVJRGHOHVLRಢ
QHV
$WHQFLäQ
(OWH[WRPDUFDGRFRQ$
$WHQFLäQ
RIUHFHLQIRUPDFLäQVREUHSRVLEOHV
GDâRVHQHOYHKÞFXOR6LVHLJQRUD
GLFKDLQIRUPDFLäQHOYHKÞFXOR
SXHGHVXIULUGDâRV
6ÞPERORV
/DVUHIHUHQFLDVDSÒJLQDVVHLQGLFDQ
PHGLDQWH(OVÞPERORVLJQLILFD
YÚDVHODSÒJLQD
&RQ VHLQGLFDHORUGHQFURQROäJLFR
SDUDVHOHFFLRQDUODVHQWUDGDVGHO
PHQëHQODSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
/DVUHIHUHQFLDVGHSÒJLQDV\ODVHQಢ
WUDGDVGHÞQGLFHKDFHQUHIHUHQFLDVD
ORVHQFDEH]DGRVTXHVHSURSRUFLRಢ
QDQHQODVHFFLäQGHÞQGLFH
/HGHVHDPRVPXFKDVKRUDVGHDJUDಢ
GDEOHFRQGXFFLäQ
$GDP2SHO$*
,QWURGXFFLäQ
(QSRFDVSDODEUDV
(QSRFDVSDODEUDV
'HVEORTXHRGHOYHKÞFXOR
$MXVWHGHORVDVLHQWRV
$MXVWHORQJLWXGLQDO
,QIRUPDFLäQLPSRUWDQWH
SDUDVXSULPHUYLDMH
3XOVHASDUDGHVEORTXHDUODVSXHUWDV
\HOFRPSDUWLPHQWRGHFDUJD$EUDODV
SXHUWDVWLUDQGRGHODPDQLOODFRUUHVಢ
SRQGLHQWH3DUDDEULUHOSRUWäQWUDಢ
VHURDFFLRQHHOERWäQVLWXDGRGHEDMR
GHODPROGXUD
6LSXOVDIVRORVHGHVEORTXHD\VH
DEUHHOFRPSDUWLPHQWRGHFDUJD
0DQGRDGLVWDQFLD6LVWHPDGH
FLHUUHFHQWUDOL]DGR6LVWHPD
GHOODYHHOHFWUäQLFD&RPSDUಢ
WLPHQWRGHFDUJD
7LUHGHODVLGHURGHVOLFHHODVLHQWR
VXHOWHHODVLGHUR,QWHQWHPRYHUHO
UHVSDOGRKDFLDGHODQWH\KDFLDDWUÒV
SDUDDVHJXUDUVHGHTXHHODVLHQWR
HVWÒEORTXHDGRHQVXSRVLFLäQ
3RVLFLäQGHODVLHQWR$MXVWH
GHODVLHQWRPDQXDO$MXVWHGHO
DVLHQWRDXWRPÒWLFR
(QSRFDVSDODEUDV
,QFOLQDFLäQGHOUHVSDOGR
$OWXUDGHODVLHQWR
,QFOLQDFLäQGHODVLHQWR
7LUHGHODSDODQFDDMXVWHODLQFOLQDಢ
FLäQ\VXHOWHODSDODQFD'HMHTXHHO
DVLHQWRHQFODYHDXGLEOHPHQWH
3RVLFLäQGHODVLHQWR$MXVWH
GHODVLHQWRPDQXDO$MXVWHGHO
DVLHQWRDXWRPÒWLFR
3XOVHHOLQWHUUXSWRU
DUULED DVLHQWRPÒVDOWR
DEDMR DVLHQWRPÒVEDMR
0RYLPLHQWRGHERPEHRGHODSDODQFD
KDFLDDUULED
SDUWHGHODQWHUD
PÒVDOWD
KDFLDDEDMR
SDUWHGHODQWHUD
PÒVEDMD
3RVLFLäQGHODVLHQWR$MXVWH
GHODVLHQWRPDQXDO$MXVWHGHO
DVLHQWRDXWRPÒWLFR
3RVLFLäQGHODVLHQWR$MXVWH
GHODVLHQWRPDQXDO$MXVWHGHO
DVLHQWRDXWRPÒWLFR
(QSRFDVSDODEUDV
$MXVWHGHORV
UHSRVDFDEH]DV
3XOVHHOERWäQGHGHVEORTXHRDMXVWH
ODDOWXUDHQFODYH
5HSRVDFDEH]DV
&LQWXUäQGHVHJXULGDG
$MXVWHGHORVUHWURYLVRUHV
5HWURYLVRULQWHULRU
([WUDLJDHOFLQWXUäQGHVHJXULGDG\
HQFOÒYHORHQHOFLHUUH(OFLQWXUäQGH
VHJXULGDGQRGHEHHVWDUUHWRUFLGR\
GHEHTXHGDUELHQDMXVWDGRDOFXHUSR
(OUHVSDOGRQRGHEHHVWDUGHPDVLDGR
LQFOLQDGRKDFLDDWUÒVPÒ[LPRDSUR[
¡
3DUDVROWDUHOFLQWXUäQSXOVHHOERWäQ
URMRGHOFLHUUH
3RVLFLäQGHDVLHQWR&LQWXURಢ
QHVGHVHJXULGDG6LVWHPDGH
DLUEDJV
3DUDDMXVWDUHOHVSHMRPXHYDODFDUಢ
FDVDGHOHVSHMRHQODGLUHFFLäQGHಢ
VHDGD
5HWURYLVRULQWHULRUFRQDQWLGHVOXPಢ
EUDPLHQWRPDQXDO5HWURYLVRU
LQWHULRUDQWLGHVOXPEUDPLHQWRDXWRಢ
PÒWLFR
(QSRFDVSDODEUDV
5HWURYLVRUHVH[WHULRUHV
$MXVWHGHOYRODQWH
6HOHFFLRQHHOUHWURYLVRUH[WHULRUFRಢ
UUHVSRQGLHQWHFDPELDQGRHOPDQGRDO
HVSHMRUHWURYLVRUL]TXLHUGR/RDOHVಢ
SHMRUHWURYLVRUGHUHFKR5DFRQWLಢ
QXDFLäQDMXVWH
5HWURYLVRUHVH[WHULRUHVFRQYH[RV
$MXVWHHOÚFWULFR5Hಢ
WURYLVRUHVH[WHULRUHVSOHJDEOHV
5HWURYLVRUHVH[WHULRUHVWÚUPLಢ
FRV
'HVEORTXHHODSDODQFDDMXVWHHOYRಢ
ODQWHOXHJRHQFODYHODSDODQFD\DVHಢ
JëUHVHGHTXHHVWÚWRWDOPHQWHEORಢ
TXHDGD(OYRODQWHVäORVHGHEHDMXVಢ
WDUFRQHOYHKÞFXORSDUDGR\ODGLUHFಢ
FLäQGHVEORTXHDGD
6LVWHPDGHDLUEDJV3RVLFLRಢ
QHVGHODOODYHGHOHQFHQGLGR
(QSRFDVSDODEUDV
9LVWDJHQHUDOGHOWDEOHURGHLQVWUXPHQWRV
(QSRFDVSDODEUDV
(OHYDOXQDVHOÚFWULFRV &LHUUHFHQWUDOL]DGR 5HWURYLVRUHVH[WHULRUHV &RQPXWDGRUGHODVOXFHV 5HJXODFLäQGHODOFDQFHGH
ORVIDURV )DURVDQWLQLHEOD
GHODQWHURVWUDVHURV ,OXPLQDFLäQGHORV
LQVWUXPHQWRV 6DOLGDVGHDLUHODWHUDOHV 6HâDOL]DFLäQGHJLURV\
FDPELRVGHFDUULOUÒIDJDV
OX]GHFUXFHFDUUHWHUD
DVLVWHQWHGHOX]GH
FDUUHWHUD &RQWUROGHYHORFLGDG
DGDSWDEOH $OHUWDGHFROLVLäQIURQWDO ,QVWUXPHQWRV &HQWURGHLQIRUPDFLäQGHO
FRQGXFWRU %RWRQHVSDUDHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU /LPSLDSDUDEULVDV\
ODYDSDUDEULVDVODYDIDURV
OLPSLDOXQHWD\ODYDOXQHWD 6DOLGDVGHDLUHFHQWUDOHV 0RGR6SRUW7RXU 3DQWDOODGHLQIRUPDFLäQHQ
FRORU *XDQWHUD 7HVWLJRGHFRQWUROGH
DFWLYDFLäQGHVDFWLYDFLäQ
GHODLUEDJ 6LVWHPDGHFRQWUROGH
WUDFFLäQ ,OXPLQDFLäQGHVDOLGD &RQWUROHOHFWUäQLFRGH
HVWDELOLGDG /XFHVGHHVWDFLRQDPLHQWR /XFHVGHHPHUJHQFLD %RWRQHVSDUDHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU 5HJXODGRUGHYHORFLGDG $VLVWHQWHGH
DSDUFDPLHQWRDVLVWHQWH
GHDSDUFDPLHQWRDYDQ]DGR /LPLWDGRUGHYHORFLGDG $YLVRGHFDPELRGHFDUULO /('GHHVWDGRGHOVLVWHPD
GHDODUPDDQWLUURER 7HVWLJRGHFRQWUROGHO
FLQWXUäQGHVHJXULGDGGHO
DFRPSDâDQWH 0DQGRVSDUDHO
IXQFLRQDPLHQWRGHOD
SDQWDOODGHLQIRUPDFLäQHQ
FRORU 5DQXUDGH&'
&OLPDWL]DGRUDXWRPÒWLFR )UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR &DPELRPDQXDO &DPELRDXWRPÒWLFR 3RUWDREMHWRV %RWäQ(&2SDUDHO
VLVWHPDVWRSVWDUW %RWäQVHOHFWRUGH
FRPEXVWLEOH (QSRFDVSDODEUDV
,QWHUUXSWRUHQFHQGLGR
DOLPHQWDFLäQ %RFLQD $MXVWHGHOYRODQWH 3DODQFDGHGHVEORTXHR
GHOFDSä &RPSDUWLPHQWR
SRUWDREMHWRV ,OXPLQDFLäQH[WHULRU
5ÒIDJDVOX]GHFDUUHWHUD\OX]GH
FUXFH
&DMDGHIXVLEOHV &RQWURODXWRPÒWLFRGHODVOXFHV
$872 &RQWURODXWRPÒWLFRGHODV
OXFHVODLOXPLQDFLäQH[WHULRU
VHHQFLHQGH\DSDJDDXWRಢ
PÒWLFDPHQWH
P
$FWLYDFLäQRGHVDFWLYDFLäQ
GHOFRQWURODXWRPÒWLFRGHOXಢ
FHV
/XFHVODWHUDOHV
)DURV
/XFHVDQWLQLHEOD
)DURVDQWLQLHEOD
P 3LORWRDQWLQLHEOD
,OXPLQDFLäQ
5ÒIDJDV
/X]GH
FDUUHWHUD
/X]GH
FUXFH
7LUHGHODSDODQFD
3UHVLRQHODSDODQFD
3UHVLRQHRWLUHGHOD
SDODQFD
&RQWURODXWRPÒWLFRGHODVOXFHV
/X]GHFDUUHWHUD$VLVW
OXFHVGHFDUUHWHUD5ÒIDJDV
6LVWHPDGHIDURVDGDSWDWLYRV
(QSRFDVSDODEUDV
6HâDOL]DFLäQGHJLURV\FDPELRV
GHFDUULO
3DODQFDKDFLD
DUULED
3DODQFDKDFLD
DEDMR
LQWHUPLWHQWHGHUHಢ
FKR
LQWHUPLWHQWHL]ಢ
TXLHUGR
6HâDOL]DFLäQGHJLURV\FDPELRVGH
FDUULO/XFHVGHHVWDFLRQDಢ
PLHQWR
/XFHVGHHPHUJHQFLD
%RFLQD
6HDFWLYDQSXOVDQGRe
/XFHVGHHPHUJHQFLD
3XOVHH
(QSRFDVSDODEUDV
6LVWHPDVOLPSLD\
ODYDSDUDEULVDV
/DYDSDUDEULVDV\ODYDIDURV
/LPSLDOXQHWDWUDVHUR
7LUHGHODSDODQFD
6LVWHPDODYDSDUDEULVDV\ODYDIDURV
/ÞTXLGRGHODYDGR
3XOVHHOLQWHUUXSWRUEDVFXODQWHSDUD
DFWLYDUHOOLPSLDOXQHWD
LQWHUUXSWRU
IXQFLRQDPLHQWR
VXSHULRU
FRQWLQXR
LQWHUUXSWRULQIHಢ IXQFLRQDPLHQWRLQಢ
ULRU
WHUPLWHQWH
SRVLFLäQFHQWUDO GHVFRQHFWDU
/LPSLDSDUDEULVDV
+, YHORFLGDGUÒSLGD
/2 YHORFLGDGOHQWD
,17 FRQH[LäQDLQWHUYDORVRIXQಢ
FLRQDPLHQWRDXWRPÒWLFRFRQ
VHQVRUGHOOXYLD
2)) GHVFRQHFWDU
3DUDXQVROREDUULGRFXDQGRORVOLPಢ
SLDSDUDEULVDVHVWÒQGHVFRQHFWDGRV
EDMHODSDODQFDDODSRVLFLäQ
[
/LPSLDSDUDEULVDV6XVWLWXFLäQ
GHODVHVFRELOODV
(QSRFDVSDODEUDV
/DYDOXQHWD
&OLPDWL]DFLäQ
/XQHWDWÚUPLFDWUDVHUD
UHWURYLVRUHVH[WHULRUHVWÚUPLFRV
3UHVLRQHODSDODQFD
6HSXOYHUL]DOÞTXLGRGHODYDGRVREUH
ODOXQHWDWUDVHUD\HOOLPSLDOXQHWDUHDಢ
OL]DHOEDUULGRYDULDVYHFHV
/LPSLDODYDOXQHWD
/DFDOHIDFFLäQVHDFFLRQDSXOVDQGR
^
/XQHWDWÚUPLFDWUDVHUD
'HVHPSDâDGR\GHVFRQJHODGR
GHODVYHQWDQLOODVVLVWHPDGHDLUH
DFRQGLFLRQDGR
3XOVH5
3RQJDHOPDQGRGHODWHPSHUDWXUDHQ
HOQLYHOPÒVFÒOLGR
&RQHFWHODOXQHWDWÚUPLFDWUDVHUD^
6LVWHPDGHDLUHDFRQGLFLRQDGR
(QSRFDVSDODEUDV
'HVHPSDâDGR\GHVFRQJHODGR
GHODVYHQWDQLOODVFOLPDWL]DFLäQ
DXWRPÒWLFD
3XOVH5
/DWHPSHUDWXUD\ODGLVWULEXFLäQGHO
DLUHVHUHJXODQDXWRPÒWLFDPHQWHHO
YHQWLODGRUIXQFLRQDDYHORFLGDGDOWD
&RQHFWHODOXQHWDWÚUPLFDWUDVHUD^
0DQGRGHFOLPDWL]DFLäQDXWRPÒWLFD
GXDO
&DMDGHFDPELRV
&DPELRDXWRPÒWLFR
&DPELRPDQXDO
0DUFKDDWUÒVFRQHOYHKÞFXORSDUDGR
SLVHHOSHGDOGHHPEUDJXHSXOVHHO
ERWäQGHGHVEORTXHRGHODSDODQFD
VHOHFWRUD\HQJUDQHODPDUFKD
6LODPDUFKDQRHQWUDFRQIDFLOLGDG
SRQJDODSDODQFDHQSXQWRPXHUWR
VXHOWHHOSHGDOGHOHPEUDJXH\SÞVHOR
GHQXHYROXHJRUHSLWDODVHOHFFLäQGH
ODPDUFKD
&DPELRPDQXDO
3
5
1
'
0
HVWDFLRQDPLHQWR
PDUFKDDWUÒV
SXQWRPXHUWR
PRGRDXWRPÒWLFR
PRGRPDQXDOPXHYDODSDODQFD
VHOHFWRUDGHVGH'
'KDFLDODL]ಢ
TXLHUGD
FDPELDUDXQDPDUFKDODUJDHQ
PRGRPDQXDO
< FDPELDUDXQDPDUFKDFRUWDHQ
PRGRPDQXDO
(QSRFDVSDODEUDV
/DSDODQFDVHOHFWRUDVäORSXHGHPRಢ
YHUVHGHODSRVLFLäQ3
3FRQHOHQFHQಢ
GLGRFRQHFWDGR\HOSHGDOGHOIUHQR
SLVDGR3DUDVHOHFFLRQDU3
3R5
5SXOVH
HOERWäQGHGHVEORTXHR
&DPELRDXWRPÒWLFR
$OVDOLUGHYLDMH
$UUDQTXHGHOPRWRU
&RPSUREDFLRQHVDQWHVGH
FRPHQ]DUXQYLDMH
ထ
ထ
ထ
ထ
ထ
/DSUHVLäQGHORVQHXPÒWLFRV\
VXHVWDGR
(OQLYHOGHDFHLWHGHOPRWRU\GH
ORVGHPÒVOÞTXLGRV
7RGRVORVFULVWDOHVUHWURYLVRUHV
LOXPLQDFLäQH[WHULRU\SODFDVGH
PDWUÞFXODGHEHQHVWDUHQEXHQ
HVWDGR\OLEUHVGHVXFLHGDG
QLHYHRKLHOR
/DFRUUHFWDSRVLFLäQGHORVUHWURಢ
YLVRUHVDVLHQWRV\FLQWXURQHVGH
VHJXULGDG
(OIXQFLRQDPLHQWRGHORVIUHQRVD
EDMDYHORFLGDGHVSHFLDOPHQWHVL
ORVIUHQRVHVWÒQKëPHGRV
ထ
ထ
ထ
ထ
ထ
ထ
,QWHUUXSWRUGHHQFHQGLGRJLUHOD
OODYHDODSRVLFLäQ
%RWäQHQFHQGLGRSXOVHHOERWäQ
(QJLQH6WDUW6WRSGXUDQWHYDULRV
VHJXQGRVKDVWDTXHVHHQFLHQGD
HO/('YHUGH
0XHYDOLJHUDPHQWHHOYRODQWH
SDUDGHVDFWLYDUHOEORTXHR
$FFLRQHHOHPEUDJXH\HOIUHQR
&DPELRDXWRPÒWLFRHQ3
3R1
1
1RSLVHHOSHGDOGHODFHOHUDGRU
,QWHUUXSWRUGHHQFHQGLGRJLUHOD
OODYHDODSRVLFLäQ
\VXÚOWHOD
(QSRFDVSDODEUDV
6LVWHPDVWRSVWDUW
3DUDYROYHUDDUUDQFDUHOPRWRUSLVH
GHQXHYRHOSHGDOGHOHPEUDJXH
6LVWHPDVWRSVWDUW
%RWäQGHHQFHQGLGRSXOVH
(QJLQH6WDUW6WRS\VXHOWH
ထ (OPRWRUDUUDQFDGHVSXÚVGHXQ
EUHYHUHWDUGR
$UUDQTXHGHOPRWRU
6LHOYHKÞFXORFLUFXODDEDMDYHORFLGDG
RHVWÒSDUDGR\VHFXPSOHQGHWHUPLಢ
QDGDVFRQGLFLRQHVDFWLYHODIXQFLäQ
GHSDUDGDDXWRPÒWLFD$XWRVWRSGHO
VLJXLHQWHPRGR
ထ 3LVHHOSHGDOGHOHPEUDJXH
ထ 3RQJDODSDODQFDHQSXQWR
PXHUWR
ထ 6XHOWHHOSHGDOGHOHPEUDJXH
8QDSDUDGDDXWRPÒWLFDVHLQGLFDPHಢ
GLDQWHODDJXMDHQODSRVLFLäQ
$8726723HQHOWDFäPHWURRPHಢ
GLDQWHHOWHVWLJRGHFRQWUROHQHOFXDಢ
GURGHLQVWUXPHQWRV
(QSRFDVSDODEUDV
(VWDFLRQDPLHQWR
ထ
$GYHUWHQFLD
ထ
ထ
ထ
1RDSDUTXHHOYHKÞFXORVREUHOD
VXSHUILFLHLQIODPDEOH/DWHPಢ
SHUDWXUDDOWDGHOVLVWHPDGHHVಢ
FDSHSRGUÞDSUHQGHUIXHJRHQ
ODVXSHUILFLH
$FFLRQHVLHPSUHHOIUHQRGHHVಢ
WDFLRQDPLHQWR$FFLRQHHO
IUHQRGHHVWDFLRQDPLHQWRPDಢ
QXDOVLQSXOVDUHOERWäQGHGHVಢ
EORTXHR(QSHQGLHQWHVDSOÞಢ
TXHORFRQWRGDODILUPH]DSRVLಢ
EOH3DUDUHGXFLUHOHVIXHU]R
SLVHHOSHGDOGHOIUHQRDOPLVPR
WLHPSR
(QYHKÞFXORVFRQIUHQRGHHVಢ
WDFLRQDPLHQWRHOÚFWULFRWLUHGHO
LQWHUUXSWRUPGXUDQWH
XQVHJXQGRDSUR[LPDGDPHQWH
(OIUHQRGHHVWDFLRQDPLHQWR
HOÚFWULFRHVWÒDFFLRQDGR
FXDQGRVHHQFLHQGHHOWHVWLJR
GHFRQWUROP
'HVFRQHFWHHOPRWRU
ထ
ထ
6LHOYHKÞFXORVHHQFXHQWUDVRಢ
EUHXQDVXSHUILFLHQLYHODGDR
XQDSHQGLHQWHDVFHQGHQWH
DSOLTXHODSULPHUDPDUFKDRFRಢ
ORTXHODSDODQFDVHOHFWRUDHQ
SRVLFLäQ3
3DQWHVGHVDFDUOD
OODYHGHFRQWDFWRRDSDJDUHO
HQFHQGLGRHQYHKÞFXORVFRQ
ERWäQGHHQFHQGLGR6LHOYHಢ
KÞFXORHVWÒFXHVWDDUULEDJLUH
ODVUXHGDVGHODQWHUDVHQODGLಢ
UHFFLäQFRQWUDULDDOERUGLOOR
6LHOYHKÞFXORVHHQFXHQWUDVRಢ
EUHXQDSHQGLHQWHGHVFHQಢ
GHQWHDSOLTXHODPDUFKDDWUÒV
RFRORTXHODSDODQFDVHOHFWRUD
HQSRVLFLäQ3
3DQWHVGHVDFDUOD
OODYHGHFRQWDFWRRDSDJDUHO
HQFHQGLGRHQYHKÞFXORVFRQ
ERWäQGHHQFHQGLGR*LUHODV
UXHGDVGHODQWHUDVKDFLDHOERUಢ
GLOOR
&LHUUHODVYHQWDQLOODV\HOWHFKR
VRODU
6DTXHODOODYHGHFRQWDFWRGHO
LQWHUUXSWRUGHHQFHQGLGRRDSDಢ
JXHHOFRQWDFWRHQYHKÞFXORV
FRQERWäQGHHQFHQGLGR*LUH
HOYRODQWHKDVWDTXHSHUFLED
TXHVHKDEORTXHDGR
(QYHKÞFXORVFRQFDPELRDXWRಢ
PÒWLFRODOODYHVäORSXHGHVDಢ
FDUVHFXDQGRODSDODQFDVHOHFಢ
WRUDHVWÒHQODSRVLFLäQ3
3
ထ
ထ
%ORTXHHHOYHKÞFXORFRQHOERWäQ
CGHOPDQGRDGLVWDQFLD
&RQHFWHHOVLVWHPDGHDODUPD
DQWLUURER
/RVYHQWLODGRUHVGHUHIULJHUDFLäQ
GHOPRWRUSXHGHQVHJXLUIXQFLRಢ
QDQGRGHVSXÚVGHGHVFRQHFWDU
HOPRWRU
$WHQFLäQ
'HVSXÚVGHFLUFXODUDXQUÚJLPHQ
HOHYDGRRDOWDFDUJDVHGHEHGHಢ
MDUIXQFLRQDUHOPRWRUEUHYHPHQWH
FRQEDMDFDUJDRDOUDOHQWÞGXUDQWH
XQRVVHJXQGRVDQWHVGHSDಢ
UDUORDILQGHSURWHJHUHOWXUERFRPಢ
SUHVRU
/ODYHVFHUUDGXUDV,QPRYLOLಢ
]DFLäQGHOYHKÞFXORGXUDQWHXQSHಢ
ULRGRGHWLHPSRSURORQJDGR
/ODYHVSXHUWDV\YHQWDQLOODV
/ODYHVSXHUWDV\
YHQWDQLOODV
/ODYHVFHUUDGXUDV /ODYHV &DU3DVV 0DQGRDGLVWDQFLD 6LVWHPDGHOODYHHOHFWUäQLFD $MXVWHVPHPRUL]DGRV &LHUUHFHQWUDOL]DGR %ORTXHRDXWRPÒWLFR 6HJXURVSDUDQLâRV 3XHUWDV &RPSDUWLPHQWRGHFDUJD 6HJXULGDGGHOYHKÞFXOR 6LVWHPDDQWLUURER 6LVWHPDGHDODUPDDQWLUURER ,QPRYLOL]DGRU 5HWURYLVRUHVH[WHULRUHV )RUPDFRQYH[D $MXVWHHOÚFWULFR (VSHMRVUHWURYLVRUHV
SOHJDEOHV 5HWURYLVRUHVWÚUPLFRV $WHQXDFLäQDXWRPÒWLFD $VLVWHQWHGHDSDUFDPLHQWR 5HWURYLVRULQWHULRU $QWLGHVOXPEUDPLHQWRPDQXDO $QWLGHVOXPEUDPLHQWR
DXWRPÒWLFR 9HQWDQLOODV 3DUDEULVDV (OHYDOXQDVPDQXDOHV (OHYDOXQDVHOÚFWULFRV /XQHWDWÚUPLFDWUDVHUD 3DUDVROHV 3HUVLDQDV 7HFKR 7HFKRVRODU /ODYHVFHUUDGXUDV
/ODYHV
$WHQFLäQ
1RILMHDUWÞFXORVSHVDGRVRYROXಢ
PLQRVRVDODOODYHGHFRQWDFWR
/ODYHVGHUHSXHVWR
(OQëPHURGHOODYHILJXUDHQHO&DU
3DVVRHQXQDHWLTXHWDVHSDUDEOH
$OSHGLUOODYHVGHUHSXHVWRGHEHLQGLಢ
FDUVHHOQëPHURGHOODYHFRUUHVSRQಢ
GLHQWH\DTXHODOODYHHVXQFRPSRಢ
QHQWHGHOVLVWHPDLQPRYLOL]DGRU
&HUUDGXUDV0DQGRDGLVWDQಢ
FLD/ODYHHOHFWUäQLFD
&LHUUHFHQWUDOL]DGR$UUDQTXH
GHOPRWRU
(OFäGLJRQXPÚULFRGHODGDSWDGRU
SDUDODVWXHUFDVGHUXHGDDQWLUURERVH
HVSHFLILFDHQXQDWDUMHWD'HEHLQGLಢ
FDUVHDOVROLFLWDUXQDGDSWDGRUGHUHಢ
FDPELR
&DPELRGHXQDUXHGD
/ODYHVSXHUWDV\YHQWDQLOODV
/ODYHFRQSDOHWäQSOHJDEOH
0DQGRDGLVWDQFLD
(OPDQGRDGLVWDQFLDWLHQHXQDOFDQFH
GHPHWURVDSUR[LPDGDPHQWH
3XHGHUHGXFLUVHSRULQIOXHQFLDVH[ಢ
WHUQDV/DVOXFHVGHHPHUJHQFLDVH
LOXPLQDQSDUDFRQILUPDUHODFFLRQDಢ
PLHQWR
'HEHWUDWDUORFRQFXLGDGRSURWHJHUOR
GHODKXPHGDG\GHODVWHPSHUDWXUDV
DOWDV\HYLWHDFFLRQDUORLQQHFHVDULDಢ
PHQWH
6XVWLWX\DODSLODGHOPDQGRD
GLVWDQFLD
3XOVHHOERWäQSDUDGHVSOHJDUOR3DUD
SOHJDUODOODYHSXOVHSULPHURHOERWäQ
&DU3DVV
(O&DU3DVVFRQWLHQHGDWRVUHODFLRಢ
QDGRVFRQODVHJXULGDGGHOYHKÞFXOR
\GHEHJXDUGDUVHHQXQOXJDUVHJXUR
$OOOHYDUHODXWRPäYLODXQWDOOHUHVWRV
GDWRVGHOYHKÞFXORVRQQHFHVDULRV
SDUDUHDOL]DUGHWHUPLQDGRVWUDEDMRV
$FWLYDHOIXQFLRQDPLHQWRGHODVVLಢ
JXLHQWHVIXQFLRQHVPHGLDQWHHOXVR
GHORVERWRQHVGHOPDQGRDGLVWDQFLD
ထ FLHUUHFHQWUDOL]DGR
ထ VLVWHPDDQWLUURER
ထ VLVWHPDGHDODUPDDQWLUURER
ထ SRUWäQWUDVHUR
ထ HOHYDOXQDVHOÚFWULFRV
ထ WHFKRVRODU
ထ SOHJDGRGHORVUHWURYLVRUHV
6XVWLWX\DODSLODHQFXDQWRGLVPLQX\D
HODOFDQFH
/DVSLODVQRGHEHQDUURMDUVHDODEDಢ
VXUDGRPÚVWLFD'HEHQGHVHFKDUVH
HQXQSXQWRGHUHFRJLGDDXWRUL]DGR
SDUDVXUHFLFODMH
/ODYHVSXHUWDV\YHQWDQLOODV
$YHUÞD
'HVSOLHJXHODOODYH\DEUDODXQLGDG
6XVWLWX\DODSLODWLSR&5SUHVಢ
WDQGRDWHQFLäQDODSRVLFLäQGHPRQಢ
WDMH&LHUUHODXQLGDG\VLQFURQLFHHO
PDQGRDGLVWDQFLD
6LQFURQL]DFLäQGHOPDQGRD
GLVWDQFLD
'HVSXÚVGHVXVWLWXLUODSLODGHVEORಢ
TXHHODSXHUWDFRQODOODYHHQODFHಢ
UUDGXUDGHODSXHUWDGHOFRQGXFWRU(O
PDQGRDGLVWDQFLDVHVLQFURQL]DUÒ
FXDQGRFRQHFWHHOHQFHQGLGR
6LHOFLHUUHFHQWUDOL]DGRQRVHDFWLYD
FRQHOPDQGRDGLVWDQFLDSXHGHGHಢ
EHUVHDORVLJXLHQWH
ထ $YHUÞDHQHOPDQGRDGLVWDQFLD
ထ 6HKDVXSHUDGRHODOFDQFH
ထ /DWHQVLäQGHODSLODHVGHPDಢ
VLDGREDMD
ထ $FFLRQDPLHQWRUHSHWLGR\IUHಢ
FXHQWHGHOPDQGRDGLVWDQFLD
IXHUDGHODOFDQFHGHUHFHSFLäQ
GHOYHKÞFXORVHUÒQHFHVDULRYROಢ
YHUDVLQFURQL]DUOR
ထ 6REUHFDUJDGHOFLHUUHFHQWUDOLಢ
]DGRGHELGRDXQDFFLRQDPLHQWR
IUHFXHQWHHQEUHYHVLQWHUYDORV
VHLQWHUUXPSHODDOLPHQWDFLäQGH
FRUULHQWHGXUDQWHXQEUHYHSHಢ
UÞRGRGHWLHPSR
ထ ,QWHUIHUHQFLDGHRQGDVGHUDGLR
GHPD\RUSRWHQFLDSURFHGHQWHV
GHRWUDVIXHQWHV
'HVEORTXHRPDQXDO
6LVWHPDGHOODYHHOHFWUäQLFD
3HUPLWHPDQHMDUODVVLJXLHQWHVIXQಢ
FLRQHV
ထ FLHUUHFHQWUDOL]DGR
ထ SRUWäQWUDVHUR
ထ FRQHFWDUHOHQFHQGLGR\DUUDQFDU
HOPRWRU
(OFRQGXFWRUVäORWLHQHTXHOOHYDU
FRQVLJRODOODYHHOHFWUäQLFD
$GHPÒVODOODYHHOHFWUäQLFDLQFOX\H
ODIXQFLäQGHPDQGRDGLVWDQFLD
/ODYHVSXHUWDV\YHQWDQLOODV
'HEHWUDWDUORFRQFXLGDGRSURWHJHUOR
GHODKXPHGDG\GHODVWHPSHUDWXUDV
DOWDV\HYLWHDFFLRQDUORLQQHFHVDULDಢ
PHQWH
1RWD
1RSRQJDODOODYHHOHFWUäQLFDHQHO
FRPSDUWLPHQWRGHFDUJDQLGHODQWH
GHOD,QIR'LVSOD\
&DPELRGHODSLODGHODOODYH
HOHFWUäQLFD
6XVWLWX\DODSLODHQFXDQWRHOVLVWHPD
QRIXQFLRQHFRUUHFWDPHQWHRVHUHಢ
GX]FDHODOFDQFH/DQHFHVLGDGGH
VXVWLWXLUODSLODVHLQGLFDPHGLDQWHXQ
PHQVDMHHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
6XVWLWXFLäQGHODSLODFRQVXOWH
0DQGRDGLVWDQFLD
6LQFURQL]DFLäQGHODOODYH
HOHFWUäQLFD
/DOODYHHOHFWUäQLFDVHVLQFURQL]DDXಢ
WRPÒWLFDPHQWHHQFDGDSURFHVRGH
DUUDQTXH
$YHUÞD
$MXVWHVPHPRUL]DGRV
6LQRHVSRVLEOHDFFLRQDUHOFLHUUH
FHQWUDOL]DGRRDUUDQFDUHOPRWRU
SXHGHGHEHUVHDXQDGHODVFDXVDV
VLJXLHQWHV
ထ )DOORHQODOODYHHOHFWUäQLFD
ထ /DOODYHHOHFWUäQLFDHVWÒIXHUDGHO
DOFDQFHGHUHFHSFLäQ
ထ /DWHQVLäQGHODSLODHVGHPDಢ
VLDGREDMD
ထ 6REUHFDUJDGHOFLHUUHFHQWUDOLಢ
]DGRGHELGRDXQDFFLRQDPLHQWR
IUHFXHQWHHQEUHYHVLQWHUYDORV
VHLQWHUUXPSHODDOLPHQWDFLäQGH
FRUULHQWHGXUDQWHXQEUHYHSHಢ
UÞRGRGHWLHPSR
ထ ,QWHUIHUHQFLDGHRQGDVGHUDGLR
GHPD\RUSRWHQFLDSURFHGHQWHV
GHRWUDVIXHQWHV
3DUDVXEVDQDUODFDXVDGHODDYHUÞD
FDPELHODSRVLFLäQGHODOODYHHOHFWUäಢ
QLFD
'HVEORTXHRPDQXDO
6LHPSUHTXHHOHQFHQGLGRHVWÚGHVಢ
FRQHFWDGRODXQLGDGGHOPDQGRDGLVಢ
WDQFLDRODOODYHHOHFWUäQLFDPHPRULಢ
]DQDXWRPÒWLFDPHQWHORVVLJXLHQWHV
DMXVWHV
ထ FOLPDWL]DGRUDXWRPÒWLFR
ထ LOXPLQDFLäQ
ထ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
ထ FLHUUHFHQWUDOL]DGR
ထ FRQILJXUDFLäQGHOPRGRGHSRUWLYR
ထ FRQILJXUDFLäQGHFRQIRUW
/RVDMXVWHVJXDUGDGRVVHXWLOL]DQDXಢ
WRPÒWLFDPHQWHODVLJXLHQWHYH]TXH
VHFRQHFWDHOHQFHQGLGRFRQODOODYH
PHPRUL]DGDFRQODXQLGDGGHOPDQGR
DGLVWDQFLDROODYHHOHFWUäQLFD
3DUDHOORHVQHFHVDULRTXHHVWÚDFWLಢ
YDGR&
&RQILJXUDFLäQFRQGXFWRUHQORV
DMXVWHVSHUVRQDOHVGHOD
SDQWDOODGHLQIRUPDFLäQ(VWDRSFLäQ
GHEHFRQILJXUDUVHSDUDFDGDXQLGDG
GHPDQGRDGLVWDQFLDROODYHHOHFWUäಢ
QLFDTXHVHXWLOLFH
/ODYHVSXHUWDV\YHQWDQLOODV
7DPELÚQVHPHPRUL]DQORVDMXVWHV
GHODVLHQWRGHOFRQGXFWRU\GHORVUHಢ
WURYLVRUHVH[WHULRUHVFRQLQGHSHQಢ
GHQFLDGHODVSRVLFLRQHVGHPHPRULD
(ODVLHQWRHOÚFWULFRVHFRORFDDXWRಢ
PÒWLFDPHQWHHQODSRVLFLäQPHPRULಢ
]DGDDOGHVEORTXHDU\DEULUODSXHUWD
GHOFRQGXFWRUFRQHOPDQGRDGLVWDQಢ
FLDROODYHHOHFWUäQLFDPHPRUL]DGD\
VLHVWÒDFWLYDGDODRSFLäQ$
$MXVWHV
DXWRPÒWLFRVHQPHPRULDHQOD
SDQWDOODGHLQIRUPDFLäQ
3HUVRQDOL]DFLäQGHOYHKÞFXOR
1RWD
3RFRWLHPSRGHVSXÚVGHOGHVEORಢ
TXHRFRQHOPDQGRDGLVWDQFLDODV
SXHUWDVVHEORTXHDQDXWRPÒWLFDಢ
PHQWHVLQRVHKDDELHUWRQLQJXQD
SXHUWD
)XQFLRQDPLHQWRGHOPDQGRD
GLVWDQFLD
'HVEORTXHR
&LHUUHFHQWUDOL]DGR
3HUPLWHEORTXHDU\GHVEORTXHDUODV
SXHUWDVHOFRPSDUWLPHQWRGHFDUJD\
ODWDSDGHOGHSäVLWRGHFRPEXVWLEOH
3DUDGHVEORTXHDUXQDSXHUWDGHEH
WLUDUGHODPDQLOODLQWHULRUGHODSXHUWD
6LWLUDGHODPDQLOODPÒVGHXQDYH]
VHDEULUÒODSXHUWD
1RWD
(QFDVRGHDFFLGHQWHFRQGHVSOLHಢ
JXHGHORVDLUEDJVRSUHWHQVRUHVGH
FLQWXURQHVHOYHKÞFXORVHGHVEORಢ
TXHDDXWRPÒWLFDPHQWH
3XOVHA
(OPRGRGHGHVEORTXHRVHSXHGH
DMXVWDUHQHOPHQëGHSHUVRQDOL]Dಢ
FLäQGHOYHKÞFXORHQOD3DQWDOODGHLQಢ
IRUPDFLäQHQFRORU6HSXHGHQVHOHFಢ
FLRQDUGRVDMXVWHV
ထ
7RGDVODVSXHUWDVFRPSDUWLಢ
PHQWRGHFDUJD\WDSDGHOGHSäಢ
VLWRGHFRPEXVWLEOHVHGHVEORಢ
TXHDQSXOVDQGRXQDYH]A
ထ 6RODPHQWHODSXHUWDGHOFRQGXFಢ
WRUHOFRPSDUWLPHQWRGHFDUJD\
ODWDSDGHOGHSäVLWRGHFRPEXVಢ
WLEOHVHGHVEORTXHDQSXOVDQGR
XQDYH]A3DUDGHVEORTXHDUWRಢ
GDVODVSXHUWDVSXOVHAGRVYHಢ
FHV
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/RVDMXVWHVVHSXHGHQJXDUGDUSDUD
HOPDQGRDGLVWDQFLDXWLOL]DGR$MXVಢ
WHVPHPRUL]DGRV
%ORTXHR
&LHUUHODVSXHUWDVHOFRPSDUWLPHQWR
GHFDUJD\ODWDSDGHOGHSäVLWRGH
FRPEXVWLEOH
/ODYHVSXHUWDV\YHQWDQLOODV
'HVEORTXHR\DSHUWXUDGHOSRUWäQ
WUDVHUR
6HGÒQSXHUWDV&RXQWU\7RXUHU
6SRUWV7RXUHUFRQSRUWäQWUDVHUR
HOÚFWULFR
)XQFLRQDPLHQWRGHOVLVWHPDGH
OODYHHOHFWUäQLFD
/DOODYHHOHFWUäQLFDGHEHHVWDUIXHUD
GHOYHKÞFXORDXQDGLVWDQFLDPÒ[LPD
GHXQPHWURDSUR[LPDGDPHQWHGHO
ODGRGHODSXHUWDFRUUHVSRQGLHQWH
'HVEORTXHR
3XOVHC
6LODSXHUWDGHOFRQGXFWRUQRHVWÒ
ELHQFHUUDGDHOFLHUUHFHQWUDOL]DGRQR
IXQFLRQDUÒ
&RQHOHQFHQGLGRGHVFRQHFWDGR
SXOVHIKDVWDTXHHOSRUWäQWUDVHUR
VHDEUDDXWRPÒWLFDPHQWH/DVSXHUಢ
WDVSHUPDQHFHQEORTXHDGDV
3RUWäQWUDVHURHOÚFWULFR
&RQILUPDFLäQ
(OIXQFLRQDPLHQWRGHOVLVWHPDGHFLHಢ
UUHFHQWUDOL]DGRORFRQILUPDHOSDUSDಢ
GHRGHODVOXFHVGHDYHUÞD
3XOVHHOERWäQGHODPDQLOODH[WHULRU
GHODSXHUWD\WLUHGHODPDQLOOD
(OPRGRGHGHVEORTXHRVHSXHGH
DMXVWDUHQHOPHQëGHSHUVRQDOL]Dಢ
FLäQGHOYHKÞFXORHQOD3DQWDOODGHLQಢ
IRUPDFLäQHQFRORU6HSXHGHQVHOHFಢ
FLRQDUGRVDMXVWHV
ထ
/ODYHVSXHUWDV\YHQWDQLOODV
7RGDVODVSXHUWDVFRPSDUWLಢ
PHQWRGHFDUJD\WDSDGHOGHSäಢ
VLWRGHFRPEXVWLEOHVHGHVEORಢ
TXHDQSXOVDQGRXQDYH]XQERಢ
WäQHQFXDOTXLHUDGHODVPDQLOODV
H[WHULRUHV
ထ 6RODPHQWHODSXHUWDGHOFRQGXFಢ
WRUFRPSDUWLPHQWRGHFDUJD\
WDSDGHOGHSäVLWRGHFRPEXVWLEOH
VHGHVEORTXHDQSXOVDQGRXQD
YH]HOERWäQGHODPDQLOODH[WHULRU
GHODSXHUWDGHOFRQGXFWRU3DUD
GHVEORTXHDUWRGDVODVSXHUWDV
SXOVHHOERWäQGRVYHFHV
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/RVDMXVWHVVHSXHGHQJXDUGDUSDUD
ODOODYHHOHFWUäQLFDXWLOL]DGD$MXVWHV
PHPRUL]DGRV
%ORTXHR
3XOVHHOERWäQGHFXDOTXLHUDGHODV
PDQLOODVH[WHULRUHVGHODVSXHUWDV
7RGDVODVSXHUWDVFRPSDUWLPHQWRGH
FDUJD\ODWDSDGHOGHSäVLWRGHFRPಢ
EXVWLEOHHVWÒQEORTXHDGDV
(OVLVWHPDVRODPHQWHVHGHVEORTXHD
VLRFXUUHORVLJXLHQWH
ထ +DQWUDQVFXUULGRPÒVGH
VHJXQGRVGHVGHHOGHVEORಢ
TXHR
ထ (OERWäQGHODVDH[WHULRUVHKD
SXOVDGRGRVYHFHVHQXQSHULRGR
GHVHJXQGRV
ထ 6HKDDELHUWRFXDOTXLHUSXHUWD\
OXHJRVHKDQFHUUDGRWRGDV
6LODSXHUWDGHOFRQGXFWRUQRVHKD
FHUUDGRFRUUHFWDPHQWHRODOODYHHOHFಢ
WUäQLFDSHUPDQHFHHQHOYHKÞFXOR\HO
HQFHQGLGRQRHVWÒGHVFRQHFWDGRQR
VHSHUPLWLUÒHOEORTXHR\VRQDUÒXQ
DYLVRDFëVWLFRWUHVYHFHV
6LKDKDELGRGRVRPÒVOODYHVHOHFಢ
WUäQLFDVHQHOYHKÞFXOR\HOHQFHQGLGR
KDHVWDGRFRQHFWDGRXQDYH]ODV
SXHUWDVVHEORTXHDUÒQLQFOXVRVLVRಢ
ODPHQWHVHKDH[WUDÞGRXQDOODYHHOHFಢ
WUäQLFDGHOYHKÞFXOR
/ODYHVSXHUWDV\YHQWDQLOODV
$YHUÞDHQODXQLGDGGHOPDQGRD
GLVWDQFLDRVLVWHPDGHOODYH
HOHFWUäQLFD
'HVEORTXHR\DSHUWXUDGHOSRUWäQ
WUDVHUR
(OSRUWäQWUDVHUR\ODVSXHUWDVVHSXHಢ
GHQGHVEORTXHDUSXOVDQGRHOERWäQ
GHGHEDMRGHOHPEHOOHFHGRUGHOSRUಢ
WäQFXDQGRODOODYHHOHFWUäQLFDHVWÒ
HQDOFDQFH
'HVEORTXHRPDQXDO
%ORTXHRSDVLYR
9ÚDVH%ORTXHRDXWRPÒWLFR
&RQILUPDFLäQ
(OIXQFLRQDPLHQWRGHOVLVWHPDGHFLHಢ
UUHFHQWUDOL]DGRORFRQILUPDHOSDUSDಢ
GHRGHODVOXFHVGHDYHUÞD
3XOVHCSDUDEORTXHDUORV
3XOVHASDUDGHVEORTXHDUORV
%RWRQHVGHOFLHUUHFHQWUDOL]DGR
%ORTXHDRGHVEORTXHDWRGDVODV
SXHUWDVHOFRPSDUWLPHQWRGHFDUJD\
ODWDSDGHOGHSäVLWRGHFRPEXVWLEOH
GHVGHHOKDELWÒFXORPHGLDQWHXQ
LQWHUUXSWRUHQHOSDQHOGHODSXHUWDGHO
FRQGXFWRU
'HVEORTXHHPDQXDOPHQWHODSXHUWD
GHOFRQGXFWRUJLUDQGRODOODYHHQOD
FHUUDGXUD&RQHFWHHOHQFHQGLGR\
SXOVHHOERWäQGHOFLHUUHFHQWUDOL]DGR
ASDUDGHVEORTXHDUWRGDVODVSXHUWDV
HOFRPSDUWLPHQWRGHFDUJD\ODWDSD
GHOGHSäVLWRGHFRPEXVWLEOH$OFRಢ
QHFWDUHOHQFHQGLGRVHGHVDFWLYDHO
VLVWHPDDQWLUURER
/ODYHVSXHUWDV\YHQWDQLOODV
%ORTXHRPDQXDO
%ORTXHHPDQXDOPHQWHODSXHUWDGHO
FRQGXFWRUJLUDQGRODOODYHHQODFHಢ
UUDGXUD
%ORTXHRDXWRPÒWLFR
$YHUÞDGHOFLHUUHFHQWUDOL]DGR
(VWDIXQFLäQGHVHJXULGDGSXHGH
FRQILJXUDUVHSDUDEORTXHDUDXWRPÒWLಢ
FDPHQWHWRGDVODVSXHUWDVHOFRPಢ
SDUWLPHQWRGHFDUJD\ODWDSDGHOGHಢ
SäVLWRGHFRPEXVWLEOHHQFXDQWRHO
YHKÞFXORVXSHUHXQDGHWHUPLQDGDYHಢ
ORFLGDG
$OSDUDUVHGHVSXÚVGHODFRQGXFFLäQ
HOYHKÞFXORVHGHVEORTXHDUÒDXWRPÒಢ
WLFDPHQWHHQFXDQWRVHUHWLUDODOODYH
GHOLQWHUUXSWRUGHHQFHQGLGRRFRQHO
VLVWHPDGHOODYHHOHFWUäQLFDFXDQGR
VHGHVFRQHFWDHOHQFHQGLGR
/DDFWLYDFLäQRGHVDFWLYDFLäQGHOEORಢ
TXHRDXWRPÒWLFRSXHGHGHILQLUVHHQ
HOPHQë$
$MXVWHV 9
9HKÞFXORGHODSDQಢ
WDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6HSXHGHJXDUGDUHODMXVWHSDUDHO
PDQGRDGLVWDQFLDRODOODYHHOHFWUäಢ
QLFDXWLOL]DGD
'HVEORTXHRPDQXDO
'HVEORTXHHPDQXDOPHQWHODSXHUWD
GHOFRQGXFWRUJLUDQGRODOODYHHQOD
FHUUDGXUD/DVRWUDVSXHUWDVSXHGHQ
DEULUVHWLUDQGRGHODPDQLOODLQWHULRU
GRVYHFHV(OFRPSDUWLPHQWRGH
FDUJD\ODWDSDGHOGHSäVLWRGHFRPಢ
EXVWLEOHQRVHSXHGHQDEULU3DUD
GHVDFWLYDUHOVLVWHPDDQWLUURERFRಢ
QHFWHHOHQFHQGLGR
%ORTXHRPDQXDO
3XOVHHOERWäQLQWHULRUGHEORTXHRGH
WRGDVODVSXHUWDVH[FHSWRODSXHUWD
GHOFRQGXFWRU/XHJRFLHUUHODSXHUWD
GHOFRQGXFWRU\EORTXÚHODGHVGH
IXHUDFRQODOODYH/DWDSDGHOGHSäಢ
VLWRGHFRPEXVWLEOH\HOSRUWäQWUDVHUR
QRVHSXHGHQEORTXHDU
%ORTXHRDXWRPÒWLFRGHVSXÚVGH
LQLFLDUODPDUFKD
%ORTXHRDXWRPÒWLFRGHVSXÚVGHO
GHVEORTXHR
3RFRWLHPSRGHVSXÚVGHOGHVEORTXHR
FRQHOPDQGRDGLVWDQFLDRODOODYH
HOHFWUäQLFDWRGDVODVSXHUWDVHO
FRPSDUWLPHQWRGHFDUJD\ODWDSDGHO
GHSäVLWRGHFRPEXVWLEOHVHEORTXHDQ
DXWRPÒWLFDPHQWHVLQRVHKDDELHUWR
QLQJXQDSXHUWD
/DDFWLYDFLäQRGHVDFWLYDFLäQGHOEORಢ
TXHRGHQXHYRDXWRPÒWLFRSXHGH
DMXVWDUVHHQHOPHQë$
$MXVWHV
9HKÞFXORGHODSDQWDOODGHLQIRUPDಢ
FLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6HSXHGHJXDUGDUHODMXVWHSDUDHO
PDQGRDGLVWDQFLDRODOODYHHOHFWUäಢ
QLFDXWLOL]DGD
%ORTXHRSDVLYR
(QYHKÞFXORVFRQHOVLVWHPDGHOODYH
HOHFWUäQLFDHVWDIXQFLäQFLHUUDHOYHಢ
KÞFXORDXWRPÒWLFDPHQWHWUDQVFXUULಢ
GRVYDULRVVHJXQGRVVLVHKDGHWHFಢ
WDGRSUHYLDPHQWHXQDOODYHHOHFWUäಢ
QLFDHQHOLQWHULRUGHOYHKÞFXORWRGDV
/ODYHVSXHUWDV\YHQWDQLOODV
ODVSXHUWDVVHKDQFHUUDGR\ODOODYH
HOHFWUäQLFDQRSHUPDQHFHHQHOLQWHಢ
ULRU
6LODOODYHHOHFWUäQLFDSHUPDQHFHHQ
HOYHKÞFXORRHOHQFHQGLGRQRHVWÒ
GHVFRQHFWDGRQRVHSHUPLWLUÒHOEORಢ
TXHRSDVLYR\VRQDUÒWUHVYHFHVXQ
DYLVRDFëVWLFR
6LKDKDELGRGRVRPÒVOODYHVHOHFಢ
WUäQLFDVHQHOYHKÞFXOR\HOHQFHQGLGR
KDHVWDGRFRQHFWDGRXQDYH]ODIXQಢ
FLäQEORTXHDHOYHKÞFXORVLVRODPHQWH
VHKDH[WUDÞGRXQDOODYHHOHFWUäQLFD
GHOYHKÞFXOR
(OEORTXHRSDVLYRVHSXHGHGHVDFWLಢ
YDUSXOVDQGRAGXUDQWHXQRVVHJXQಢ
GRVPLHQWUDVHVWÒDELHUWDXQDSXHUWD
3HUPDQHFHGHVDFWLYDGRKDVWDTXHVH
SXOVDCRHOHQFHQGLGRVHFRQHFWD
/DDFWLYDFLäQRGHVDFWLYDFLäQGHOEORಢ
TXHRSDVLYRSXHGHGHILQLUVHHQHO
PHQë$
$MXVWHV 9
9HKÞFXORGHODSDQಢ
WDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6HSXHGHJXDUGDUHODMXVWHSDUDHO
PDQGRDGLVWDQFLDRODOODYHHOHFWUäಢ
QLFDXWLOL]DGD
6HJXURVSDUDQLâRV
$GYHUWHQFLD
8WLOLFHORVVHJXURVSDUDQLâRV
VLHPSUHTXHYLDMHQQLâRVHQORV
DVLHQWRVWUDVHURV
8VDQGRXQDOODYHRXQGHVWRUQLOODGRU
JLUHHOVHJXURSDUDQLâRVGHODSXHUWD
WUDVHUDKDVWDODSRVLFLäQKRUL]RQWDO
/DSXHUWDQRSXHGHDEULUVHGHVGHHO
LQWHULRU3DUDGHVDFWLYDUORJLUHHOVHಢ
JXURSDUDQLâRVKDVWDODSRVLFLäQYHUಢ
WLFDO
/ODYHVSXHUWDV\YHQWDQLOODV
3XHUWDV
&LHUUH
&RPSDUWLPHQWRGHFDUJD
3RUWäQWUDVHUR
$SHUWXUD
&LQFRSXHUWDV6SRUWV7RXUHU
&RXQWU\7RXUHU
3XOVHIGHOPDQGRDGLVWDQFLD
KDVWDTXHHOSRUWäQWUDVHURVHDEUD
DXWRPÒWLFDPHQWHRSXOVHHOERWäQVLಢ
WXDGRGHEDMRGHODPROGXUDGHOSRUWäQ
WUDVHURGHVSXÚVGHGHVEORTXHDUHO
YHKÞFXOR
&LHUUHFHQWUDOL]DGR
7UDVGHVEORTXHDUHOSRUWäQWUDVHUR
SXOVHHOERWäQVLWXDGRGHEDMRGHVX
PROGXUD\ÒEUDORPDQXDOPHQWH
6HGÒQGHSXHUWDV
8WLOLFHODPDQLOODLQWHULRU
$OFHUUDUQRDFFLRQHHOERWäQVLWXDGR
GHEDMRGHODPROGXUDSDUDHYLWDUTXH
HOSRUWäQWUDVHURVHYXHOYDDGHVEORಢ
TXHDU
&LHUUHFHQWUDOL]DGR
/ODYHVSXHUWDV\YHQWDQLOODV
3RUWäQWUDVHURHOÚFWULFR
$GYHUWHQFLD
7HQJDFXLGDGRDODFFLRQDUHOSRUಢ
WäQWUDVHURHOÚFWULFR+D\ULHVJR
GHOHVLRQHVHVSHFLDOPHQWHSDUD
ORVQLâRV
2EVHUYHDWHQWDPHQWHHOSRUWäQ
WUDVHURHQPRYLPLHQWRGXUDQWHVX
DFFLRQDPLHQWR$VHJëUHVHGHTXH
QDGDTXHGHDWUDSDGRDODFFLRಢ
QDUOR\TXHQDGLHHVWÚHQOD]RQD
GHPRYLPLHQWR
(OSRUWäQWUDVHURHOÚFWULFRVHDFFLRQD
PHGLDQWHHO
ထ IHQHOPDQGRDGLVWDQFLD
ထ (OLQWHUUXSWRU*GHOSDQHOGHOD
SXHUWDGHOFRQGXFWRU
ထ (OLQWHUUXSWRUGHSDQHOWÒFWLO\
*HQHOSRUWäQWUDVHUR
(QYHKÞFXORVFRQFDPELRDXWRPÒWLFR
HOSRUWäQWUDVHURVäORVHSXHGHDFಢ
FLRQDUFRQHOYHKÞFXORSDUDGR\HO
FDPELRDXWRPÒWLFRHQ3
3
&XDQGRHOSRUWäQWUDVHURHOÚFWULFR
HVWÒIXQFLRQDQGRSDUSDGHDQODVOXಢ
FHVWUDVHUDV\VXHQDXQDYLVRDFëVಢ
WLFR
1RWD
$ODFFLRQDUHOSRUWäQWUDVHURHOÚFಢ
WULFRQRVHDFWLYDHOFLHUUHFHQWUDOLಢ
]DGR3DUDDEULUHOSRUWäQWUDVHUR
FRQHOPDQGRDGLVWDQFLDQRHVQHಢ
FHVDULRGHVEORTXHDUHOYHKÞFXOR
3DUDDFFLRQDUORFRQHOWRXFKSDGR
FRQHOLQWHUUXSWRUGHODSXHUWDGHO
FRQGXFWRUGHVEORTXHHSULPHURHOYHಢ
KÞFXOR%ORTXHHHOYHKÞFXORGHVSXÚV
GHFHUUDU
&LHUUHFHQWUDOL]DGR
$FFLRQDPLHQWRFRQHOPDQGRD
GLVWDQFLD
0DQWHQJDSXOVDGRIKDVWDTXHHO
SRUWäQWUDVHURVHHPSLHFHDDEULUR
FHUUDU
/ODYHVSXHUWDV\YHQWDQLOODV
$FFLRQDPLHQWRFRQHOFRQPXWDGRUHQ
ODSXHUWDGHOFRQGXFWRU
0DQWHQJDSXOVDGR*KDVWDTXHHO
SRUWäQWUDVHURVHHPSLHFHDDEULUR
FHUUDU
$FFLRQDPLHQWRFRQORVPDQGRVHQHO
SRUWäQWUDVHUR
3DUDDEULUHOSRUWäQWUDVHURSXOVHHO
LQWHUUXSWRUGHSDQHOWÒFWLOVLWXDGRGHಢ
EDMRGHODPROGXUDKDVWDTXHHOSRUಢ
WäQWUDVHURHPSLHFHDPRYHUVH
3DUDFHUUDUSXOVH*HQHOSRUWäQ
WUDVHURDELHUWRKDVWDTXHHVWHHPಢ
SLHFHDPRYHUVH
3DUDGHWHQHURFDPELDUHOVHQWLGRGHO
PRYLPLHQWR
6LVHSXOVDIGHOPDQGRDGLVWDQFLD
R*GHOSRUWäQWUDVHURRVLVHSXOVD
HOLQWHUUXSWRUGHSDQHOWÒFWLOPLHQWUDV
VHHVWÒPRYLHQGRHOSRUWäQWUDVHUROR
GHWHQGUÒHQODSRVLFLäQDFWXDO6L
YXHOYHDSXOVDUIR*VHLQYHUಢ
WLUÒHOVHQWLGRGHOPRYLPLHQWR
/ODYHVSXHUWDV\YHQWDQLOODV
0RGRVGHIXQFLRQDPLHQWR
(OSRUWäQWUDVHURHOÚFWULFRWLHQHWUHV
PRGRVGHIXQFLRQDPLHQWRTXHVH
FRQWURODQPHGLDQWHHOFRQPXWDGRUHQ
ODSXHUWDGHOFRQGXFWRU3DUDFDPELDU
HOPRGRJLUHHOLQWHUUXSWRU
ထ
ထ
ထ
0RGRQRUPDO0
0$;(OSRUWäQWUDಢ
VHURHOÚFWULFRVHDEUHKDVWDODDOಢ
WXUDPÒ[LPD
0RGRLQWHUPHGLR
(OSRUWäQ
WUDVHURHOÚFWULFRVHDEUHKDVWD
XQDDOWXUDUHGXFLGDTXHSXHGH
DMXVWDUVH
2II(OSRUWäQWUDVHURVRODಢ
0RGR2
PHQWHVHSXHGHDFFLRQDUPDಢ
QXDOPHQWH
$MXVWHGHODDOWXUDGHDSHUWXUD
UHGXFLGDHQHOPRGRLQWHUPHGLR
*LUHHOLQWHUUXSWRUGHOPRGRGH
IXQFLRQDPLHQWRD
$EUDHOSRUWäQWUDVHURHOÚFWULFR
FRQFXDOTXLHUPDQGRGHDFFLRQDಢ
PLHQWR
'HWHQJDHOPRYLPLHQWRDODDOWXUD
GHVHDGDSXOVDQGRFXDOTXLHU
PDQGRGHDFFLRQDPLHQWR6L
IXHUDQHFHVDULRPXHYDPDQXDOಢ
PHQWHHOSRUWäQWUDVHURXQDYH]
GHWHQLGRKDVWDODSRVLFLäQGHಢ
VHDGD
0DQWHQJDSXOVDGRHOERWäQHQHO
LQWHULRUGHOSRUWäQWUDVHURDELHUWR
GXUDQWHVHJXQGRV
1RWD
(ODMXVWHGHODDOWXUDGHEHUÒHVWDU
SURJUDPDGRDQLYHOGHVXHOR
8QDYLVRDFëVWLFRLQGLFDHOQXHYR
DMXVWH\ODVOXFHVWUDVHUDVH[WHULRUHV
SDUSDGHDUÒQVLHOSRUWäQWUDVHURHVWÒ
HQSRVLFLäQLQIHULRUDXQÒQJXOR
DELHUWRGH¡
&XDQGRJLUHODUXHGDGHDMXVWHHQOD
SXHUWDGHOFRQGXFWRUKDVWDHOPRGR
LQWHUPHGLR
HOSRUWäQWUDVHURHOÚFಢ
WULFRVHGHWHQGUÒDODEULUVHHQODSRಢ
VLFLäQUHFLÚQDMXVWDGD
(OSRUWäQWUDVHURVRORSXHGHPDQWHಢ
QHUVHDELHUWRVLVHVXSHUDXQDGHWHUಢ
PLQDGDDOWXUDPÞQLPDÒQJXORGH
DSHUWXUDPÞQLPRGH¡/DDOWXUDGH
DSHUWXUDQRSXHGHSURJUDPDUVHSRU
GHEDMRGHGLFKDDOWXUDPÞQLPD
)XQFLäQGHVHJXULGDG
6LHOSRUWäQWUDVHURHOÚFWULFRHQFXHQಢ
WUDXQREVWÒFXORDODEULUVHRFHUUDUVH
VHLQYHUWLUÒDXWRPÒWLFDPHQWHHOVHQಢ
WLGRGHOPRYLPLHQWR6LVHHQFXHQWUD
PëOWLSOHVREVWÒFXORVHQXQPLVPRFLಢ
FORVHGHVDFWLYDUÒODIXQFLäQ(QHVWH
FDVRKD\TXHFHUUDURDEULUHOSRUWäQ
WUDVHURPDQXDOPHQWH
/ODYHVSXHUWDV\YHQWDQLOODV
(OSRUWäQWUDVHURHOÚFWULFRWLHQHVHQಢ
VRUHVDQWLDWUDSDPLHQWRHQORVERUGHV
ODWHUDOHV6LORVVHQVRUHVGHWHFWDQ
REVWÒFXORVHQWUHHOSRUWäQWUDVHUR\HO
FKDVLVHOSRUWäQWUDVHURVHDEULUÒ
KDVWDTXHVHYXHOYDDDFWLYDURFHUUDU
PDQXDOPHQWH
/DIXQFLäQGHVHJXULGDGVHLQGLFDPHಢ
GLDQWHXQDYLVRDFëVWLFR
5HWLUHWRGRVORVREVWÒFXORVDQWHVGH
UHDQXGDUHODFFLRQDPLHQWRHOÚFWULFR
QRUPDO
6LHOYHKÞFXORHVWÒHTXLSDGRGHIÒಢ
EULFDFRQXQGLVSRVLWLYRGHUHPROTXH
\KD\XQUHPROTXHFRQHFWDGRHOÚFWULಢ
FDPHQWHHOSRUWäQWUDVHURHOÚFWULFR
VRORVHSRGUÒDEULUFRQHOSDQHOWÒFWLO
\FHUUDUFRQ*FXDQGRHOSRUWäQ
WUDVHURHVWÚDELHUWR&RPSUXHEHTXH
QRKD\REVWÒFXORVHQOD]RQDPäYLO
,QGLFDFLRQHVJHQHUDOHVSDUD
DFFLRQDUHOSRUWäQWUDVHUR
3HOLJUR
1RFLUFXOHFRQHOSRUWäQWUDVHUR
DELHUWRRHQWUHDELHUWRSRUHMHPಢ
SORDOWUDQVSRUWDUREMHWRVYROXPLಢ
QRVRV\DTXHSRGUÞDQHQWUDUJDಢ
VHVGHHVFDSHWä[LFRVLQRGRURVH
LQYLVLEOHVHQHOYHKÞFXOR3XHGHQ
RFDVLRQDUXQGHVYDQHFLPLHQWRH
LQFOXVRODPXHUWH
$WHQFLäQ
$QWHVGHDEULUHOSRUWäQWUDVHUR
FRPSUXHEHVLKD\REVWUXFFLRQHV
SRUDUULEDFRPRXQDSXHUWDGHJDಢ
UDMHSDUDHYLWDUGDâRVHQHOSRUWäQ
WUDVHUR&RPSUXHEHVLHPSUHOD
]RQDGHPRYLPLHQWRSRUHQFLPD\
GHWUÒVGHOSRUWäQWUDVHUR
1RWD
3RUWäQWUDVHURHOÚFWULFR6LORVHOHಢ
YDGRUHVGHODDSHUWXUDGHOSRUWäQ
WUDVHURSLHUGHQSUHVLäQHOSRUWäQ
WUDVHURFDHXQSRFR\HQWRQFHVHO
VLVWHPDORSDUDUÒ'HVSXÚVHOSRUಢ
WäQWUDVHURVHDEULUÒ\FHUUDUÒHOHFಢ
WUäQLFDPHQWH0LHQWUDVWDQWRODVOXಢ
FHVGHOSRUWäQSDUSDGHDUÒQ\VRಢ
QDUÒXQDYLVRDFëVWLFR'HVSXÚVGH
FHUUDUHVSRVLEOHTXHQRVHSXHGD
XWLOL]DUHOSRUWäQWUDVHURKDVWDTXH
VHKD\DOOHYDGRDOWDOOHUDUHSDUDU
1RWD
(ODFFLRQDPLHQWRGHOSRUWäQWUDVHUR
HOÚFWULFRVHGHVDFWLYDVLODFDUJDGH
ODEDWHUÞDGHOYHKÞFXORHVEDMD(Q
HVWHFDVRHOSRUWäQWUDVHURSXHGH
TXHQLVLTXLHUDIXQFLRQHPDQXDOಢ
PHQWH
1RWD
&RQHOSRUWäQWUDVHURHOÚFWULFRGHVಢ
DFWLYDGR\WRGDVODVSXHUWDVGHVEORಢ
TXHDGDVHOSRUWäQWUDVHURVRODಢ
PHQWHSXHGHDFFLRQDUVHPDQXDOಢ
PHQWH(QHVWHFDVRHOFLHUUHPDಢ
QXDOGHOSRUWäQWUDVHURUHTXLHUHEDVಢ
WDQWHPÒVIXHU]D
1RWD
&RQWHPSHUDWXUDVH[WHULRUHVEDMDV
HVSRVLEOHTXHHOSRUWäQWUDVHURQR
VHDEUDFRPSOHWDPHQWHSRUVÞ
/ODYHVSXHUWDV\YHQWDQLOODV
PLVPR(QHVWHFDVROHYDQWHHOSRUಢ
WäQWUDVHURPDQXDOPHQWHKDVWDVX
SRVLFLäQILQDOQRUPDO
1RWD
6LVHPRQWDQGHWHUPLQDGRVDFFHVRಢ
ULRVSHVDGRVHQHOSRUWäQWUDVHUR
SXHGHTXHÚVWHQRVHPDQWHQJDHQ
SRVLFLäQDELHUWD
6HJXULGDGGHOYHKÞFXOR
$FWLYDFLäQ
6LVWHPDDQWLUURER
$GYHUWHQFLD
’1RXWLOLFHHOVLVWHPDVLKD\SHUVRಢ
QDVHQHOLQWHULRUGHOYHKÞFXOR/DV
SXHUWDVQRVHSXHGHQGHVEORಢ
TXHDUGHVGHHOLQWHULRU
(OVLVWHPDDQWLUUREREORTXHDPHFÒQLಢ
FDPHQWHWRGDVODVSXHUWDV6HGHEHQ
FHUUDUWRGDVODVSXHUWDV\ODOODYH
HOHFWUäQLFDQRGHEHSHUPDQHFHUHQHO
YHKÞFXOR6LQRHOVLVWHPDQRVH
SXHGHDFWLYDU
6LHOHQFHQGLGRHVWDEDFRQHFWDGRVH
GHEHDEULU\FHUUDUXQDYH]ODSXHUWD
GHOFRQGXFWRUSDUDSRGHUDVHJXUDUHO
YHKÞFXOR
$OGHVEORTXHDUHOYHKÞFXORVHGHVDFಢ
WLYDHOVLVWHPDDQWLUURERPHFÒQLFR
(VWRQRHVSRVLEOHFRQHOERWäQGH
FLHUUHFHQWUDOL]DGRHQHOKDELWÒFXOR
0DQGRDGLVWDQFLDROODYHHOHFWUäQLFD
SXOVHCGRVYHFHVHQXQSOD]RGH
VHJXQGRV
6LVWHPDGHDODUPD
DQWLUURER
(OVLVWHPDGHDODUPDDQWLUURERLQಢ
FOX\HHOVLVWHPDDQWLUURERPHFÒQLFR
TXHVHDFFLRQDFRQMXQWDPHQWH
(OVLVWHPDYLJLOD
ထ SXHUWDVSRUWäQWUDVHURFDSä
ထ HOKDELWÒFXORLQFOXLGRHOFRPSDUಢ
WLPHQWRGHFDUJD
ထ
ထ
/ODYHVSXHUWDV\YHQWDQLOODV
ODLQFOLQDFLäQGHOYHKÞFXORSHM
VLORHOHYDQ
HQFHQGLGR
ထ
0DQGRDGLVWDQFLDROODYHHOHFಢ
WUäQLFDGLUHFWDPHQWHDOSXOVDUC
GRVYHFHVHQXQSOD]RGH
VHJXQGRV
6LVWHPDGHOODYHHOHFWUäQLFDFRQ
FLHUUHSDVLYRKDELOLWDGREUHYHಢ
PHQWHDFWLYDGRGHVSXÚVGHTXH
VHSURGX]FDHOFLHUUHSDVLYR
$FWLYDFLäQ
ထ
6HGHEHQFHUUDUWRGDVODVSXHUWDV\
ODOODYHHOHFWUäQLFDQRGHEHSHUPDಢ
QHFHUHQHOYHKÞFXOR6LQRHOVLVWHPD
QRVHSXHGHDFWLYDU
ထ 0DQGRDGLVWDQFLDDXWRDFWLYDGR
VHJXQGRVGHVSXÚVGHFHUUDU
HOYHKÞFXORSXOVDQGRCXQDYH]
ထ 6LVWHPDGHOODYHHOHFWUäQLFDDXಢ
WRDFWLYDGRVHJXQGRVGHVSXÚV
GHFHUUDUHOYHKÞFXORSXOVDQGRHO
ERWäQHQODPDQLOODH[WHULRUGHOD
SXHUWD
1RWD
/DVPRGLILFDFLRQHVGHOLQWHULRUGHO
YHKÞFXORFRPRHOXVRGHIXQGDVGH
DVLHQWR\ODVYHQWDQLOODVRHOWHFKR
VRODUDELHUWRVSRGUÞDQSHUWXUEDUOD
IXQFLäQGHYLJLODQFLDGHOKDELWÒFXOR
$FWLYDFLäQVLQYLJLODQFLDGHO
KDELWÒFXOR\GHODLQFOLQDFLäQGHO
YHKÞFXOR
'HVDFWLYHODYLJLODQFLDGHOKDELWÒFXOR
\GHODLQFOLQDFLäQGHOYHKÞFXOR
FXDQGRVHTXHGHQDQLPDOHVHQHOYHಢ
KÞFXORGHELGRDOHOHYDGRYROXPHQGH
VHâDOHVXOWUDVäQLFDV\DTXHORVPRಢ
YLPLHQWRVGLVSDUDUÒQODDODUPD7DPಢ
ELÚQGHEHGHVDFWLYDUVHFXDQGRHOYHಢ
KÞFXORYLDMHHQIHUU\RWUHQ
&LHUUHHOSRUWäQWUDVHURHOFDSä
ODVYHQWDQLOODV\HOWHFKRVRODU
3XOVHR(O/('GHOERWäQR
VHHQFLHQGHGXUDQWHXQPÒ[LPR
GHPLQXWRV
/ODYHVSXHUWDV\YHQWDQLOODV
&LHUUHODVSXHUWDV
&RQHFWHHOVLVWHPDGHDODUPDDQಢ
WLUURER
(OPHQVDMHGHHVWDGRDSDUHFHHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
/('GHHVWDGR
(VWDGRGXUDQWHORVSULPHURV
VHJXQGRVGHVGHODDFWLYDFLäQGHO
VLVWHPDGHDODUPDDQWLUURER
/('HQFHQGLGR FRPSUREDFLäQUHಢ
WDUGRGHDFWLYDಢ
FLäQ
/('SDUSDGHD ODVSXHUWDVHOSRUಢ
UÒSLGDPHQWH
WäQWUDVHURRHO
FDSäQRHVWÒQELHQ
FHUUDGRVRDYHUÞD
GHOVLVWHPD
(VWDGRGHVSXÚVGHDFWLYDUVHHOVLVಢ
WHPD
/('
HOVLVWHPDHVWÒDFWLಢ
SDUSDGHD
YDGR
OHQWDPHQWH
(QFDVRGHDYHUÞDUHFXUUDDODD\XGD
GHXQWDOOHU
(O/('GHHVWDGRHVWÒLQWHJUDGRHQHO
VHQVRUVLWXDGRHQODSDUWHVXSHULRU
GHOWDEOHURGHLQVWUXPHQWRV
'HVDFWLYDFLäQ
0DQGRDGLVWDQFLD6LVHGHVEORTXHD
HOYHKÞFXORSXOVDQGRAVHGHVDFWLಢ
YDUÒHOVLVWHPDGHDODUPDDQWLUURER
6LVWHPDGHOODYHHOHFWUäQLFD$OGHVಢ
EORTXHDUHOYHKÞFXORSXOVDQGRHOERಢ
WäQGHODPDQLOODGHODSXHUWDVHGHVಢ
DFWLYDHOVLVWHPDGHDODUPDDQWLUURER
(OVLVWHPDQRVHGHVDFWLYDDOGHVEORಢ
TXHDUODSXHUWDGHOFRQGXFWRUFRQOD
OODYHRFRQHOERWäQGHFLHUUHFHQWUDಢ
OL]DGRHQHOKDELWÒFXOR
$ODUPD
&XDQGRVHGLVSDUDVXHQDODERFLQD
GHDODUPD\VLPXOWÒQHDPHQWHSDUಢ
SDGHDQODVOXFHVGHHPHUJHQFLD(O
QëPHUR\ODGXUDFLäQGHODVDODUPDV
HVWÒHVWDEOHFLGRSRUODOH\
/ODYHVSXHUWDV\YHQWDQLOODV
(OVLVWHPDGHDODUPDDQWLUURERVROR
VHSXHGHGHVDFWLYDUSXOVDQGRAR
SXOVDQGRHOLQWHUUXSWRUGHODPDQLOOD
GHODSXHUWDVLVWHPDGHOODYHHOHFಢ
WUäQLFDRFRQHFWDQGRHOHQFHQGLGR
6LVHKDGLVSDUDGRODDODUPD\QRKD
VLGRLQWHUUXPSLGDSRUHOFRQGXFWRUVH
LQGLFDUÒPHGLDQWHODVOXFHVGHHPHUಢ
JHQFLDºVWDVSDUSDGHDUÒQWUHVYHಢ
FHVUÒSLGDPHQWHODSUä[LPDYH]TXH
GHVEORTXHHHOYHKÞFXORFRQHOPDQGR
DGLVWDQFLD$GHPÒVDSDUHFHUÒXQ
PHQVDMHGHDGYHUWHQFLDHQHOFHQWUR
GHLQIRUPDFLäQGHOFRQGXFWRUGHVಢ
SXÚVGHFRQHFWDUHOHQFHQGLGR
0HQVDMHVGHOYHKÞFXOR
,QPRYLOL]DGRU
(OVLVWHPDIRUPDSDUWHGHODFHUUDಢ
GXUDGHOHQFHQGLGR\FRPSUXHEDVLHO
YHKÞFXORSXHGHVHUDUUDQFDGRFRQOD
OODYHXWLOL]DGD
(OLQPRYLOL]DGRUVHDFWLYDDXWRPÒWLಢ
FDPHQWHGHVSXÚVGHVDFDUODOODYH
GHOLQWHUUXSWRUGHHQFHQGLGR
6LHOWHVWLJRGHFRQWUROGSDUSDGHD
FRQHOHQFHQGLGRFRQHFWDGRKD\XQD
DYHUÞDHQHOVLVWHPDGHOLQPRYLOL]Dಢ
GRUQRVHSXHGHDUUDQFDUHOPRWRU
'HVFRQHFWHHOHQFHQGLGR\UHSLWDHO
LQWHQWRGHDUUDQTXH
6LHOWHVWLJRGHFRQWUROGFRQWLQëD
SDUSDGHDQGRLQWHQWHDUUDQFDUHOPRಢ
WRUFRQODOODYHGHUHSXHVWR\UHFXUUD
DODD\XGDGHXQWDOOHU
1RWD
(OLQPRYLOL]DGRUQREORTXHDODV
SXHUWDV'HVSXÚVGHVDOLUGHOYHಢ
KÞFXORVLHPSUHGHEHEORTXHDUOR\
FRQHFWDUHOVLVWHPDGHDODUPDDQWLಢ
UURER
7HVWLJRGHFRQWUROG
5HWURYLVRUHVH[WHULRUHV
)RUPDFRQYH[D
(OUHWURYLVRUH[WHULRUFRQYH[RFRQಢ
WLHQHXQD]RQDDVIÚULFD\UHGXFHORV
ÒQJXORVPXHUWRV/DIRUPDGHOHVSHMR
KDFHTXHORVREMHWRVSDUH]FDQPÒV
SHTXHâRVORTXHDIHFWDDODDSUHFLDಢ
FLäQGHODVGLVWDQFLDV
$MXVWHHOÚFWULFR
/ODYHVSXHUWDV\YHQWDQLOODV
6HOHFFLRQHHOUHWURYLVRUH[WHULRUFRಢ
UUHVSRQGLHQWHFDPELDQGRHOPDQGRDO
HVSHMRUHWURYLVRUL]TXLHUGR/RHVಢ
SHMRUHWURYLVRUGHUHFKR5/XHJR
EDVFXOHHOPDQGRSDUDDMXVWDUHO
UHWURYLVRU
(QODSRVLFLäQMQRKD\VHOHFFLRQDGR
QLQJëQUHWURYLVRU
IXHU]D9XHOYDDFRORFDUHOUHWURYLVRU
HQVXSRVLFLäQSUHVLRQDQGROLJHUDಢ
PHQWHVREUHODFDUFDVD
3OHJDGRGHORVHVSHMRV
UHWURYLVRUHVFRQHOPDQGRD
GLVWDQFLD
3OHJDGRHOÚFWULFR
(VWDIXQFLäQHVWÒVRODPHQWHGLVSRQLಢ
EOHVLHOYHKÞFXORHVWÒHTXLSDGRFRQ
ODPHPRULDGHDVLHQWRHOÚFWULFR
(VSHMRVUHWURYLVRUHV
SOHJDEOHV
3DUDODVHJXULGDGGHORVSHDWRQHV
ORVUHWURYLVRUHVH[WHULRUHVEDVFXODQ
GHVXSRVLFLäQGHPRQWDMHQRUPDODO
UHFLELULPSDFWRVGHXQDGHWHUPLQDGD
&DPELHHOPDQGRDM\OXHJRSXOVH
HOERWäQGHOPDQGRFKDFLDDEDMR6H
SOHJDUÒQORVGRVUHWURYLVRUHVH[WHULRಢ
UHV
3XOVHGHQXHYRHOPDQGRKDFLD
DEDMRDPERVUHWURYLVRUHVYROYHUÒQD
VXSRVLFLäQRULJLQDO
6LXQUHWURYLVRUSOHJDGRHOÚFWULFDಢ
PHQWHVHGHVSOLHJDPDQXDOPHQWHDO
SXOVDUHOPDQGRVäORVHGHVSOHJDUÒ
HOÚFWULFDPHQWHHORWURUHWURYLVRU
3XOVHCGHQXHYRGHVSXÚVGHFHUUDU
GXUDQWHXQVHJXQGRSDUDSOHJDUORV
HVSHMRV
3XOVHAGHQXHYRGHVSXÚVGHGHVಢ
EORTXHDUGXUDQWHXQVHJXQGRSDUD
GHVSOHJDUORVHVSHMRV
/ODYHVSXHUWDV\YHQWDQLOODV
6LVHSXOVDGXUDQWHWUHVVHJXQGRV
DFWLYDHOIXQFLRQDPLHQWRGHODYHQWDಢ
QLOOD(OHYDOXQDVHOÚFWULFRV
7HFKRVRODU
6LORVUHWURYLVRUHVVHSOHJDURQ
XVDQGRHOPDQGRGHODSXHUWDGHO
FRQGXFWRUQRVHGHVSOHJDUÒQSXOಢ
VDQGRA
6HSXHGHDFWLYDURGHVDFWLYDUHVWD
IXQFLäQHQ3HUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6HJXDUGDQDXWRPÒWLFDPHQWHORV
DMXVWHVSDUDODOODYHXWLOL]DGD
5HWURYLVRUHVWÚUPLFRV
$VLVWHQWHGHDSDUFDPLHQWR
(QORVHVSHMRVFRQPHPRULDGHSRVLಢ
FLäQHOUHWURYLVRUH[WHULRUGHOODGRGHO
DFRPSDâDQWHVHRULHQWDDXWRPÒWLFDಢ
PHQWHKDFLDODVUXHGDVWUDVHUDV
FRPRD\XGDSDUDHOHVWDFLRQDPLHQWR
DOHQJUDQDUODPDUFKDDWUÒVH[FHSWR
FXDQGRVHFLUFXODFRQUHPROTXH
3RVLFLäQGHPHPRULD
/DDFWLYDFLäQRGHVDFWLYDFLäQGHHVWD
IXQFLäQVHSXHGHFDPELDUHQHOPHQë
$MXVWHVGHODSDQWDOODGHLQIRUPDFLäQ
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6HDFWLYDQSXOVDQGR^
(O/('GHOERWäQLQGLFDDFWLYDFLäQ
/DFDOHIDFFLäQIXQFLRQDFRQHOPRWRU
HQPDUFKD\VHGHVFRQHFWDDXWRPÒಢ
WLFDPHQWHSRFRWLHPSRGHVSXÚV
$WHQXDFLäQDXWRPÒWLFD
(OGHVOXPEUDPLHQWRFDXVDGRSRUOD
QRFKHSRUORVYHKÞFXORVTXHVHHQಢ
FXHQWUDQGHWUÒVVHUHGXFHDXWRPÒWLಢ
FDPHQWHDWHQXDQGRHOUHWURYLVRUH[ಢ
WHULRUGHOODGRGHOFRQGXFWRU
/ODYHVSXHUWDV\YHQWDQLOODV
5HWURYLVRULQWHULRU
$QWLGHVOXPEUDPLHQWR
PDQXDO
$QWLGHVOXPEUDPLHQWR
DXWRPÒWLFR
9HQWDQLOODV
3DUDEULVDV
3DUDEULVDVUHIOHFWDQWHGHOFDORU
(OSDUDEULVDVUHIOHFWDQWHGHOFDORU
WLHQHXQUHFXEULPLHQWRTXHUHIOHMDOD
UDGLDFLäQVRODU7DPELÚQSRGUÞDQUHಢ
IOHMDUVHODVVHâDOHVGHGDWRVSHMHQ
FRQWUROHVGHSHDMH
3DUDUHGXFLUHOGHVOXPEUDPLHQWR
DMXVWHODSDODQFDTXHKD\GHEDMRGH
ODFDUFDVDGHOHVSHMR
3RUODQRFKHVHUHGXFHDXWRPÒWLFDಢ
PHQWHHOGHVOXPEUDPLHQWRGHORVYHಢ
KÞFXORVTXHYDQSRUGHWUÒVDWHQXDQGR
HOHVSHMRLQWHULRU
/DV]RQDVPDUFDGDVGHOSDUDEULVDV
QROOHYDQHOFLWDGRUHFXEULPLHQWR/RV
GLVSRVLWLYRVGHUHJLVWURGHGDWRVHOHFಢ
WUäQLFRV\GHSDJRGHSHDMHVVHGHಢ
EHQPRQWDUHQHOODV(QFDVRFRQWUDಢ
ULRSRGUÞDIDOODUHOUHJLVWURGHGDWRV
/ODYHVSXHUWDV\YHQWDQLOODV
3HJDWLQDVHQHOSDUDEULVDV
(OHYDOXQDVPDQXDOHV
1RILMHSHJDWLQDVSRUHMHPSORODVSHಢ
JDWLQDVGHFRQWUROHQFDUUHWHUDVGH
SHDMHRVLPLODUHVVREUHHOSDUDEULVDV
HQOD]RQDGHOUHWURYLVRULQWHULRU(Q
FDVRFRQWUDULRSRGUÞDUHVWULQJLUVHOD
]RQDGHGHWHFFLäQGHOVHQVRU\GHYLಢ
VLäQGHODFÒPDUDHQODFDUFDVDGHO
HVSHMR
/DVYHQWDQLOODVWUDVHUDVSXHGHQVXಢ
ELUVH\EDMDUVHPDQXDOPHQWHFRQODV
PDQLYHODV
6XVWLWXFLäQGHOSDUDEULVDV
$WHQFLäQ
6LHOYHKÞFXORGLVSRQHGHVHQVRU
GHFÒPDUDIURQWDOSDUDORVVLVWHಢ
PDVGHD\XGDDODFRQGXFFLäQHV
PX\LPSRUWDQWHUHDOL]DUFXDOTXLHU
VXVWLWXFLäQGHOSDUDEULVDVGHPDಢ
QHUDSUHFLVDVHJëQODVHVSHFLILFDಢ
FLRQHVGH2SHO'HORFRQWUDULR
HVWRVVLVWHPDVSRGUÞDQQRIXQFLRಢ
QDUFRUUHFWDPHQWH\H[LVWHULHVJR
GHFRPSRUWDPLHQWRLPSUHYLVWRR
PHQVDMHVGHHVWRVVLVWHPDV
(OHYDOXQDVHOÚFWULFRV
$GYHUWHQFLD
7HQJDFXLGDGRDODFFLRQDUORVHOHಢ
YDOXQDVHOÚFWULFRV+D\ULHVJRGH
OHVLRQHVHVSHFLDOPHQWHSDUDORV
QLâRV
6LKD\QLâRVHQORVDVLHQWRVWUDVHಢ
URVDFWLYHHOVHJXURSDUDQLâRVGH
ORVHOHYDOXQDVHOÚFWULFRV
2EVHUYHDWHQWDPHQWHODVYHQWDQLಢ
OODVFXDQGRODVFLHUUH$VHJëUHVH
GHTXHQDGDTXHGHDWUDSDGR
PLHQWUDVVHPXHYHQ
)XQFLRQDFRQHOHQFHQGLGRHQSRVLಢ
FLäQ0
0RGRDOLPHQWDFLäQGH
DFFHVRULRVR(
(QFHQGLGRHQPRGR
FRQHFWDGR
'HVFRQH[LäQUHWHQLGD
$FFLRQHHOLQWHUUXSWRUGHODYHQWDQLOOD
FRUUHVSRQGLHQWHSXOVHSDUDDEULUR
WLUHSDUDFHUUDU
3XOVHRWLUHFRQFXLGDGRKDVWDHOSULಢ
PHUILDGRUODYHQWDQLOODVXEHREDMD
PLHQWUDVHVWÚDFFLRQDGRHOLQWHUUXSಢ
WRU
3XOVHRWLUHFRQPÒVIXHU]DKDVWDHO
VHJXQGRILDGRU\OXHJRVXHOWHODYHQಢ
WDQLOODVXEHREDMDDXWRPÒWLFDPHQWH
FRQODIXQFLäQGHVHJXULGDGDFWLYDGD
3DUDGHWHQHUHOPRYLPLHQWRYXHOYDD
DFFLRQDUHOLQWHUUXSWRUHQODPLVPDGLಢ
UHFFLäQ
/ODYHVSXHUWDV\YHQWDQLOODV
/RVHOHYDOXQDVHOÚFWULFRVVHSXHGHQ
DFFLRQDUGXUDQWHDSUR[LPDGDPHQWH
PLQXWRVGHVSXÚVGHKDEHUGHVFRಢ
QHFWDGRHOHQFHQGLGRRKDVWDTXHVH
DEUHODSXHUWDGHOFRQGXFWRU
6HJXURSDUDQLâRVHQODV
YHQWDQLOODVWUDVHUDV
)XQFLäQGHVHJXULGDG
6LHOFULVWDOGHODYHQWDQLOODHQFXHQWUD
DOJëQREVWÒFXORHQODPLWDGVXSHULRU
GHOUHFRUULGRGXUDQWHHOFLHUUHDXWRಢ
PÒWLFRVHGHWHQGUÒLQPHGLDWDPHQWH
\YROYHUÒDDEULUVH
$QXODUODIXQFLäQGHVHJXULGDG
(QHOFDVRGHTXHFXHVWHFHUUDUOD
YHQWDQLOODDFDXVDGHOKLHORXRWURSURಢ
EOHPDVLPLODUFRQHFWHHOHQFHQGLGR\
PDQWHQJDHOLQWHUUXSWRUHQODSULPHUD
SRVLFLäQ/DYHQWDQLOODVXEHVLQODIXQಢ
FLäQGHVHJXULGDGDFWLYDGD3DUDGHಢ
WHQHUHOPRYLPLHQWRVXHOWHHOLQWHUಢ
UXSWRU
3XOVHRSDUDGHVDFWLYDUORVHOHYDOXಢ
QDVHOÚFWULFRVGHODVSXHUWDVWUDVHಢ
UDVHO/('VHHQFLHQGH3DUDDFWLಢ
YDUORVSXOVHGHQXHYRR
$FFLRQDPLHQWRFäPRGRFRQHO
PDQGRDGLVWDQFLD
/DVYHQWDQLOODVGHODQWHUDV\WRGDVODV
YHQWDQLOODVVHSXHGHQDFFLRQDUGH
PDQHUDUHPRWDGHVGHHOH[WHULRUGHO
YHKÞFXOR
3XOVHAGHQXHYRGXUDQWH
WUHVVHJXQGRVGHVSXÚVGHGHVEORಢ
TXHDUVHDEULUÒQODVYHQWDQDV
3XOVHCGHQXHYRGXUDQWH
WUHVVHJXQGRVGHVSXÚVGHEORTXHDU
VHFHUUDUÒQODVYHQWDQDV
3XOVHFXDOTXLHUERWäQSDUDGHWHQHUHO
PRYLPLHQWRGHODYHQWDQD
3OHJDGRGHORVHVSHMRVUHWURYLVRUHV
&LHUUHGHOWHFKRVRODU
&RQILUPDFLäQ
/DVOXFHVGHDYHUÞDFRQILUPDQOD
DSHUWXUDRFLHUUHFRPSOHWRGHODVYHQಢ
WDQLOODV
/ODYHVSXHUWDV\YHQWDQLOODV
6REUHFDUJD
6LVHDFFLRQDQUHSHWLGDPHQWHODV
YHQWDQLOODVDLQWHUYDORVEUHYHVHVSRಢ
VLEOHTXHVHGHVDFWLYHHODFFLRQDಢ
PLHQWRGHODVYHQWDQLOODVGXUDQWHDOಢ
JëQWLHPSR
,QLFLDOL]DFLäQGHORVHOHYDOXQDV
HOÚFWULFRV
6LODVYHQWDQLOODVQRVHSXHGHQFHUUDU
DXWRPÒWLFDPHQWHSRUHMHPSORGHVಢ
SXÚVGHGHVFRQHFWDUODEDWHUÞDGHO
YHKÞFXORDSDUHFHXQPHQVDMHGHDGಢ
YHUWHQFLDHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
0HQVDMHVGHOYHKÞFXOR
$FWLYDUODHOHFWUäQLFDGHODYHQWDQLOOD
SDUDFDGDXQDFRQIRUPHDORVLಢ
JXLHQWH
&LHUUHODVSXHUWDV
&RQHFWHHOHQFHQGLGR
7LUHHOLQWHUUXSWRUKDVWDHOVHಢ
JXQGRWRSHKDVWDTXHODYHQWDQD
FRPLHQFHDFHUUDUVH\PDQWHQJD
WLUDGRGXUDQWHRWURVVHJXQGRV
3UHVLRQHHOLQWHUUXSWRUKDVWDHO
VHJXQGRWRSHKDVWDTXHODYHQWDಢ
QLOODFRPLHQFHDDEULUVHDXWRPÒಢ
WLFDPHQWH
5HSLWDODRSHUDFLäQSDUDFDGD
YHQWDQLOOD
/XQHWDWÚUPLFDWUDVHUD
3DUDVROHV
/RVSDUDVROHVVHSXHGHQDEDWLUR
EDVFXODUKDFLDXQODGRSDUDHYLWDUHO
GHVOXPEUDPLHQWR
6LORVSDUDVROHVWLHQHQHVSHMRVLQWHಢ
JUDGRVODVWDSDVGHORVHVSHMRVGHಢ
EHQHVWDUFHUUDGDVGXUDQWHODPDUಢ
FKD
3HUVLDQDV
3DUDSURWHJHUVHGHOVROHQORVDVLHQಢ
WRVWUDVHURVWLUHGHODSHUVLDQDKDFLD
DUULEDXVDQGRHODVD\HQJÒQFKHODHQ
ODSDUWHVXSHULRUGHOPDUFRGHOD
SXHUWD
6HDFWLYDQSXOVDQGR^
(O/('GHOERWäQLQGLFDDFWLYDFLäQ
/DFDOHIDFFLäQIXQFLRQDFRQHOPRWRU
HQPDUFKD\VHGHVFRQHFWDDXWRPÒಢ
WLFDPHQWHSRFRWLHPSRGHVSXÚV
/ODYHVSXHUWDV\YHQWDQLOODV
7HFKR
7HFKRVRODU
7HFKRVRODUYHUVLäQGH
SXHUWDVVHGÒQGHSXHUWDV
$GYHUWHQFLD
7HQJDFXLGDGRDODFFLRQDUHOWHಢ
FKRVRODU+D\ULHVJRGHOHVLRQHV
HVSHFLDOPHQWHSDUDORVQLâRV
2EVHUYHDWHQWDPHQWHODVSLH]DV
PäYLOHVGXUDQWHVXDFFLRQDಢ
PLHQWR$VHJëUHVHGHTXHQDGD
TXHGHDWUDSDGRPLHQWUDVVHPXHಢ
YHQ
)XQFLRQDFRQHOHQFHQGLGRHQSRVLಢ
FLäQ0
0RGRDOLPHQWDFLäQGH
DFFHVRULRVR(
(QFHQGLGRHQPRGR
FRQHFWDGR
'HVFRQH[LäQUHWHQLGD
$EULURFHUUDU
3XOVHSRUVXDYHPHQWHKDVWDHO
SULPHUILDGRUHOWHFKRVRODUVHDEUHR
FLHUUDFRQODIXQFLäQGHVHJXULGDGDFಢ
WLYDGDPLHQWUDVHOLQWHUUXSWRUHVWÚDFಢ
FLRQDGR
3XOVHSRUILUPHPHQWHKDVWDHO
VHJXQGRILDGRU\OXHJRVXHOWHHOWHಢ
FKRVRODUVHDEUHRFLHUUDDXWRPÒWLಢ
FDPHQWHFRQODIXQFLäQGHVHJXULGDG
DFWLYDGD3DUDGHWHQHUHOPRYLಢ
PLHQWRDFFLRQHHOLQWHUUXSWRUXQDYH]
PÒV
6XELURFHUUDU
3XOVHTRUHOWHFKRVRODUVH
VXEHRVHFLHUUDDXWRPÒWLFDPHQWH
FRQODIXQFLäQGHVHJXULGDGDFWLYDGD
6LHOWHFKRVRODUHVWÒVXELGRVH
SXHGHDEULUSDVRDSDVRSXOVDQGR
S
3HUVLDQDVRODU
/DSHUVLDQDVRODUVHDFFLRQDPDQXDOಢ
PHQWH
$EUDRFLHUUHODSHUVLDQDVRODUGHVOLಢ
]ÒQGROD&XDQGRHOWHFKRVRODUHVWÒ
DELHUWRODSHUVLDQDVLHPSUHHVWÒ
DELHUWD
/ODYHVSXHUWDV\YHQWDQLOODV
3DQRUDPDURRI6SRUWV7RXUHU
&RXQWU\7RXUHU
$EULU
3XOVHSVXDYHPHQWHKDVWDHOSULಢ
PHUILDGRUHOWHFKRVRODUVHDEUHHQ
ODSRVLFLäQGHVSRLOHU
3XOVHSILUPHPHQWHKDVWDHOVHಢ
JXQGRILDGRU\OXHJRVXHOWHHOWHFKR
VRODUVHDEUHDXWRPÒWLFDPHQWHFRQOD
IXQFLäQGHVHJXULGDGDFWLYDGD3DUD
GHWHQHUHOPRYLPLHQWRDFFLRQHHO
LQWHUUXSWRUXQDYH]PÒV
&HUUDU
3XOVHUVXDYHPHQWHKDVWDHOSULಢ
PHUILDGRUHOWHFKRVRODUVHFLHUUD
GHVGHODSRVLFLäQWRWDOPHQWHDELHUWD
RODSRVLFLäQGHVSRLOHUFRQODIXQFLäQ
GHVHJXULGDGDFWLYDGDPLHQWUDVHO
LQWHUUXSWRUHVWÚDFFLRQDGR
3XOVHUILUPHPHQWHKDVWDHOVHಢ
JXQGRILDGRU\OXHJRVXHOWHHOWHFKR
VRODUVHFLHUUDSRUFRPSOHWRDXWRPÒಢ
WLFDPHQWHFRQODIXQFLäQGHVHJXULಢ
GDGDFWLYDGD3DUDGHWHQHUHOPRYLಢ
PLHQWRDFFLRQHHOLQWHUUXSWRUXQDYH]
PÒV
3HUVLDQDVRODU
/DSHUVLDQDVRODUVHDFFLRQDHOÚFWULಢ
FDPHQWH
$EUDRFLHUUHODSHUVLDQDVRODUSXOಢ
VDQGR&R%
,QGLFDFLRQHVJHQHUDOHV
)XQFLäQGHVHJXULGDG
6LHOWHFKRVRODURODSHUVLDQDVRODU
HQFXHQWUDQUHVLVWHQFLDGXUDQWHHOFLHಢ
UUHDXWRPÒWLFRVHGHWLHQHQLQPHGLDಢ
WDPHQWH\YXHOYHQDDEULUVH
$QXODUODIXQFLäQGHVHJXULGDG
(QFDVRGHGLILFXOWDGHVSDUDFHUUDU
SRUHVFDUFKDRVLPLODUPDQWHQJDSXOಢ
VDGRUKDVWDHOVHJXQGRILDGRU(O
WHFKRVRODUVHFLHUUDVLQODIXQFLäQGH
VHJXULGDGDFWLYDGD3DUDGHWHQHUHO
PRYLPLHQWRVXHOWHHOLQWHUUXSWRU
/ODYHVSXHUWDV\YHQWDQLOODV
&LHUUHFäPRGRFRQHOPDQGRD
GLVWDQFLD
(OWHFKRVRODUVHSXHGHFHUUDUDGLVಢ
WDQFLDGHVGHIXHUDGHOYHKÞFXOR
0DQWHQJDSXOVDGRCSDUDFHUUDUHOWHಢ
FKRVRODU
6XHOWHHOERWäQSDUDGHWHQHUHOPRYLಢ
PLHQWR
,QLFLDOL]DFLäQGHVSXÚVGHXQIDOORGH
DOLPHQWDFLäQ
&XDQGRVHSURGXFHXQIDOORGHFRಢ
UULHQWHSXHGHTXHVäORVHDSRVLEOH
DFFLRQDUHOWHFKRVRODUKDVWDFLHUWR
SXQWR/OHYHHOYHKÞFXORDOWDOOHUSDUD
TXHLQLFLDOLFHQHOVLVWHPD
$VLHQWRVVLVWHPDVGHVHJXULGDG
$VLHQWRVVLVWHPDV
GHVHJXULGDG
5HSRVDFDEH]DV 5HSRVDFDEH]DVDFWLYRV $VLHQWRVGHODQWHURV 3RVLFLäQGHDVLHQWR $MXVWHPDQXDOGHODVLHQWR $MXVWHGHODVLHQWRHOÚFWULFR 5HSRVDEUD]RV &DOHIDFFLäQ 9HQWLODFLäQ $VLHQWRVWUDVHURV 5HSRVDEUD]RV &LQWXURQHVGHVHJXULGDG &LQWXUäQGHVHJXULGDGGHWUHV
SXQWRV 6LVWHPDGHDLUEDJV 6LVWHPDGHDLUEDJVIURQWDOHV 6LVWHPDGHDLUEDJVODWHUDOHV 6LVWHPDGHDLUEDJVGHFRUWLQD 'HVDFWLYDFLäQGHORVDLUEDJV 6LVWHPDVGHUHWHQFLäQLQIDQWLO 3RVLFLRQHVGHPRQWDMHGHO
VLVWHPDGHUHWHQFLäQLQIDQWLO 6LVWHPDVGHUHWHQFLäQLQIDQWLO
,62),; $UJROODVGHILMDFLäQGHORV
DQFODMHV 5HSRVDFDEH]DV
3RVLFLäQ
$GYHUWHQFLD
&RQGX]FDVLHPSUHFRQHODSR\D
FDEH]DVDMXVWDGRHQODSRVLFLäQ
FRUUHFWD
(OERUGHVXSHULRUGHOUHVSRVDFDEHಢ
]DVGHEHHVWDUHQODSDUWHVXSHULRUGH
ODFDEH]D6LHVWRQRHVSRVLEOHSDUD
SHUVRQDVPX\DOWDVVHGHEHDMXVWDU
HOUHSRVDFDEH]DVHQODSRVLFLäQPÒV
$VLHQWRVVLVWHPDVGHVHJXULGDG
DOWDSDUDSHUVRQDVGHSRFDHVWDWXUD
VHGHEHDMXVWDUHQODSRVLFLäQPÒV
EDMD
$MXVWHKRUL]RQWDO
5HSRVDFDEH]DVHQORVDVLHQWRV
WUDVHURV
$MXVWH
5HSRVDFDEH]DVHQORVDVLHQWRV
GHODQWHURV
7LUHGHODSR\RGHOUHSRVDFDEH]DVKDಢ
FLDDGHODQWHOHQWDPHQWH6HHQFODYD
HQYDULDVSRVLFLRQHV
3DUDGHYROYHUORDVXSRVLFLäQPÒV
DWUDVDGDWLUHWRWDOPHQWHKDFLDGHಢ
ODQWH\VXÚOWHOR
$MXVWHGHODDOWXUD
3XOVHHOERWäQGHGHVEORTXHRDMXVWH
ODDOWXUDHQFODYH
$MXVWHGHODDOWXUD
7LUHGHOUHSRVDFDEH]DVKDFLDDUULED\
GHMHTXHVHHQFODYH3DUDEDMDUOR
SXOVHHOUHVRUWHSDUDGHVEORTXHDUOR\
HPSXMHHOUHSRVDFDEH]DVKDFLD
DEDMR
5HSRVDFDEH]DVDFWLYRV
(QFDVRGHLPSDFWRWUDVHURODSDUWH
GHODQWHUDGHORVUHSRVDFDEH]DVDFWLಢ
YRVVHPXHYHQXQSRFRKDFLDGHಢ
ODQWH'HHVWHPRGRODFDEH]DTXHಢ
GDUÒVXMHWD\VHUHGXFLUÒHOULHVJRGH
OHVLRQHVSRUHOHIHFWRGHODVDFXGLGD
$VLHQWRVVLVWHPDVGHVHJXULGDG
1RWD
6äORVHGHEHQFRORFDUDFFHVRULRV
KRPRORJDGRVVLHODVLHQWRQRHVWÒ
RFXSDGR
$VLHQWRVGHODQWHURV
3RVLFLäQGHDVLHQWR
$GYHUWHQFLD
&RQGX]FDVLHPSUHFRQHODVLHQWR
DMXVWDGRFRUUHFWDPHQWH
3HOLJUR
3DUDSHUPLWLUXQFRUUHFWRGHVSOLHಢ
JXHGHODLUEDJGHEHHVWDUVHQಢ
WDGRDPÒVGHFPGHOYRODQWH
ထ
$GYHUWHQFLD
1XQFDDMXVWHORVDVLHQWRVPLHQಢ
WUDVFRQGXFH\DTXHSRGUÞDQPRಢ
YHUVHGHIRUPDLQFRQWURODGD
$GYHUWHQFLD
1RJXDUGHQXQFDQLQJëQREMHWR
EDMRORVDVLHQWRV
ထ
6LÚQWHVHORPÒVFHUFDSRVLEOHGHO
UHVSDOGR$MXVWHODGLVWDQFLDGHO
DVLHQWRKDVWDORVSHGDOHVGH
PRGRTXHDOSLVDUORVSHGDOHV
FRPSOHWDPHQWHODVSLHUQDVTXHಢ
GHQGREODGDVHQXQOLJHURÒQಢ
JXOR'HVOLFHHODVLHQWRGHO
DFRPSDâDQWHKDFLDDWUÒVORPÒಢ
[LPRSRVLEOH
$MXVWHODDOWXUDGHODVLHQWRGH
PRGRTXHHOFDPSRYLVXDOTXHGH
OLEUHKDFLDWRGRVORVODGRV\
SXHGDYHUWRGRVORVLQVWUXPHQWRV
LQGLFDGRUHV'HEHUÞDTXHGDU
FRPRPÞQLPRXQSDOPRGHKROಢ
JXUDHQWUHODFDEH]D\HOPDUFR
$VLHQWRVVLVWHPDVGHVHJXULGDG
ထ
ထ
ထ
ထ
ထ
GHOWHFKR/RVPXVORVGHEHQ
TXHGDUDSR\DGRVOLJHUDPHQWH
VLQSUHVLäQVREUHHODVLHQWR
&RORTXHORVKRPEURVORPÒV
FHUFDSRVLEOHGHOUHVSDOGR
$MXVWHODLQFOLQDFLäQGHOUHVSDOGR
GHPRGRTXHSXHGDFRJHUHOYRಢ
ODQWHFRQORVEUD]RVOLJHUDPHQWH
GREODGRV$OJLUDUHOYRODQWH
GHEHPDQWHQHUHOFRQWDFWRGHORV
KRPEURVFRQHOUHVSDOGR(OUHVಢ
SDOGRQRGHEHHVWDUGHPDVLDGR
LQFOLQDGRKDFLDDWUÒV/HUHFRಢ
PHQGDPRVXQÒQJXORGHLQFOLQDಢ
FLäQPÒ[LPRGH¡
$MXVWHHODVLHQWR\HOYRODQWHGH
PDQHUDTXHODPXâHFDGHVFDQVH
VREUHODSDUWHVXSHULRUGHOYRಢ
ODQWHPLHQWUDVTXHHOEUD]RHVWÒ
FRPSOHWDPHQWHH[WHQGLGR\ORV
KRPEURVHQHOUHVSDOGR
$MXVWDUHOYRODQWH
$MXVWDUHOUHSRVDFDEH]DV
$MXVWHODDOWXUDGHOFLQWXUäQGH
VHJXULGDG
ထ
ထ
$MXVWHHODSR\RSDUDORVPXVORV
GHPRGRTXHH[LVWDXQDVHSDUDಢ
FLäQGHGRVGHGRVGHDQFKXUD
HQWUHHOERUGHGHODVLHQWR\OD
FRUYDGHODSLHUQD
$MXVWHHODSR\ROXPEDUGHPRGR
TXHVHDGDSWHDODIRUPDQDWXUDO
GHODFROXPQDYHUWHEUDO
7LUHGHODVLGHURGHVOLFHHODVLHQWR
VXHOWHHODVLGHUR,QWHQWHPRYHUHO
UHVSDOGRKDFLDGHODQWH\KDFLDDWUÒV
SDUDDVHJXUDUVHGHTXHHODVLHQWR
HVWÒEORTXHDGRHQVXSRVLFLäQ
,QFOLQDFLäQGHOUHVSDOGR
$MXVWHPDQXDOGHODVLHQWR
&RQGX]FDëQLFDPHQWHFRQORVDVLHQಢ
WRV\UHSRVDFDEH]DVDQFODGRV
$MXVWHORQJLWXGLQDO
7LUHGHODSDODQFDDMXVWHODLQFOLQDಢ
FLäQ\VXHOWHODSDODQFD'HMHTXHHO
UHVSDOGRHQFODYHDXGLEOHPHQWH
$VLHQWRVVLVWHPDVGHVHJXULGDG
$OWXUDGHODVLHQWR
,QFOLQDFLäQGHODVLHQWR
$SR\ROXPEDU
3XOVHHOLQWHUUXSWRU
DUULED DVLHQWRPÒVDOWR
DEDMR DVLHQWRPÒVEDMR
0RYLPLHQWRGHERPEHRGHODSDODQFD
KDFLDDUULED
SDUWHGHODQWHUD
PÒVDOWD
KDFLDDEDMR
SDUWHGHODQWHUD
PÒVEDMD
$MXVWHHODSR\ROXPEDUFRQHOFRQPXಢ
WDGRUGHFXDWURSRVLFLRQHVSDUD
DGDSWDUORDVXVQHFHVLGDGHVSHUVRಢ
QDOHV
3DUDPRYHUHODSR\RKDFLDDUULEDR
KDFLDDEDMRSXOVHHOFRQPXWDGRU
DUULEDRDEDMR
3DUDDXPHQWDURGLVPLQXLUHODSR\R
SXOVHHOFRQPXWDGRUKDFLDGHODQWHR
KDFLDDWUÒV
$VLHQWRVVLVWHPDVGHVHJXULGDG
$SR\RSDUDORVPXVORVUHJXODEOH
2EVHUYHDWHQWDPHQWHORVDVLHQWRV
FXDQGRORVDMXVWH,QIRUPHDGHಢ
FXDGDPHQWHDORVRFXSDQWHVGHO
YHKÞFXOR
$OWXUDGHODVLHQWR
$MXVWHORQJLWXGLQDO
7LUHGHODSDODQFD\GHVOLFHHODSR\R
SDUDORVPXVORV
0XHYDHOLQWHUUXSWRUKDFLDDUULEDKDಢ
FLDDEDMR
$MXVWHGHODVLHQWRHOÚFWULFR
$GYHUWHQFLD
'HEHWHQHUFXLGDGRDODFFLRQDUORV
DVLHQWRVHOÚFWULFRV+D\ULHVJRGH
OHVLRQHVHVSHFLDOPHQWHSDUDORV
QLâRV3RGUÞDQTXHGDUREMHWRV
DWUDSDGRV
0XHYDHOLQWHUUXSWRUKDFLDGHODQWH
KDFLDDWUÒV
$VLHQWRVVLVWHPDVGHVHJXULGDG
,QFOLQDFLäQGHODVLHQWR
,QFOLQDFLäQGHOUHVSDOGR
$SR\ROXPEDU
,QFOLQHODSDUWHGHODQWHUDGHOLQWHUUXSಢ
WRUKDFLDDUULEDKDFLDDEDMR
,QFOLQHHOLQWHUUXSWRUKDFLDGHODQWH
KDFLDDWUÒV
$MXVWHHODSR\ROXPEDUFRQHOFRQPXಢ
WDGRUGHFXDWURSRVLFLRQHVSDUD
DGDSWDUORDVXVQHFHVLGDGHVSHUVRಢ
QDOHV
3DUDPRYHUHODSR\RKDFLDDUULEDR
KDFLDDEDMRSXOVHHOFRQPXWDGRU
DUULEDRDEDMR
3DUDDXPHQWDURGLVPLQXLUHODSR\R
SXOVHHOFRQPXWDGRUKDFLDGHODQWHR
KDFLDDWUÒV
$VLHQWRVVLVWHPDVGHVHJXULGDG
$SR\RSDUDORVPXVORVUHJXODEOH
7LUHGHODSDODQFD\GHVOLFHHODSR\R
SDUDORVPXVORV
)XQFLäQGHPHPRULDGHORV
DMXVWHVGHODVLHQWRHOÚFWULFR\GH
ORVUHWURYLVRUHVH[WHULRUHV
6HSXHGHQJXDUGDUGRVDMXVWHVGLIHಢ
UHQWHVGHODVLHQWRGHOFRQGXFWRU\GH
ORVUHWURYLVRUHV
$MXVWHVPHPRUL]DGRV3HUVRQDಢ
OL]DFLäQGHOYHKÞFXOR
$OPDFHQDUSRVLFLäQPHPRUL]DGD
ထ $MXVWHHODVLHQWRGHOFRQGXFWRU\
OXHJRDMXVWHORVUHWURYLVRUHVH[ಢ
WHULRUHVHQODVSRVLFLRQHVGHVHDಢ
GDV
ထ 0DQWHQJDSXOVDGR0
0(0\
R
VLPXOWÒQHDPHQWHKDVWDTXH
VXHQHXQDYLVRDFëVWLFR
5HFXSHUDFLäQGHODVSRVLFLRQHV
PHPRUL]DGDV
0DQWHQJDSXOVDGRHOERWäQGHSRVLಢ
FLäQ
R
KDVWDTXHVHDMXVWHQODV
SRVLFLRQHVPHPRUL]DGDVGHODVLHQWR
\ORVUHWURYLVRUHV6LVHVXHOWDHOERಢ
WäQGXUDQWHHOGHVSOD]DPLHQWRGHO
DVLHQWRVHDQXODODPHPRULD
*XDUGDUSRVLFLRQHVPHGLDQWHHO
PDQGRDGLVWDQFLD
/DVSRVLFLRQHVHIHFWLYDVGHODVLHQWR
GHOFRQGXFWRU\GHORVUHWURYLVRUHVVH
JXDUGDQDXWRPÒWLFDPHQWHSDUDOD
OODYHFRQPDQGRDGLVWDQFLDFDGDYH]
TXHVHGHVFRQHFWDHOHQFHQGLGR(Vಢ
WDVSRVLFLRQHVJXDUGDGDVVRQLQGHಢ
SHQGLHQWHVGHODVSRVLFLRQHVGHPHಢ
PRULDJXDUGDGDVPHGLDQWHORVERWRಢ
QHV
R
/DVSRVLFLRQHVPHPRUL]DGDVVHUHಢ
FXSHUDQDXWRPÒWLFDPHQWHDOGHVEORಢ
TXHDU\DEULUODSXHUWDGHOFRQGXFWRU
FRQODOODYHGHPDQGRDGLVWDQFLDPHಢ
PRUL]DGD6LODSXHUWD\DHVWÒDELHUWD
SXOVHAHQHOPDQGRDGLVWDQFLDSDUD
DFWLYDUODUHFXSHUDFLäQ
3DUDGHWHQHUHOPRYLPLHQWRGHUHFXಢ
SHUDFLäQSXOVHXQRGHORVPDQGRVGH
ODPHPRULDGHORVUHWURYLVRUHVHOÚFಢ
WULFRVRGHODVLHQWRHOÚFWULFR
6HSXHGHDFWLYDURGHVDFWLYDUHVWD
IXQFLäQHQSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
$VLHQWRVVLVWHPDVGHVHJXULGDG
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
)XQFLäQGHVDOLGDIÒFLO
3DUDVDOLUIÒFLOPHQWHGHOYHKÞFXORHO
DVLHQWRHOÚFWULFRGHOFRQGXFWRUVH
PXHYHKDFLDDWUÒVFXDQGRHOYHKÞFXOR
HVWÒSDUDGR3DUDDFWLYDUHVWDIXQಢ
FLäQGHVFRQHFWHHOHQFHQGLGRVDTXH
ODOODYHGHODFHUUDGXUDGHOHQFHQGLGR
\DEUDODSXHUWDGHOFRQGXFWRU6LOD
SXHUWD\DHVWÒDELHUWDGHVFRQHFWHHO
HQFHQGLGRSDUDDFWLYDUHOPRYLಢ
PLHQWR
3DUDGHWHQHUHOPRYLPLHQWRSXOVH
XQRGHORVPDQGRVGHODPHPRULDR
GHODVLHQWRHOÚFWULFR
6HSXHGHDFWLYDURGHVDFWLYDUHVWD
IXQFLäQHQSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
)XQFLäQGHVHJXULGDG
6LHODVLHQWRGHOFRQGXFWRUHQFXHQWUD
UHVLVWHQFLDGXUDQWHHOPRYLPLHQWRHV
SRVLEOHTXHODIXQFLäQVHGHWHQJD
'HVSXÚVGHHOLPLQDUODREVWUXFFLäQ
PDQWHQJDDFFLRQDGRGXUDQWH
GRVVHJXQGRVHOERWäQGHSRVLFLäQ
GHODVLHQWRHOÚFWULFRFRUUHVSRQGLHQWH
SDUDODRSFLäQGHPHPRULD,QWHQWH
UHFXSHUDUODSRVLFLäQGHPHPRULDGH
QXHYR6LODUHFXSHUDFLäQQRIXQಢ
FLRQDUHFXUUDDXQWDOOHU
6REUHFDUJD
6LKD\XQDVREUHFDUJDHOÚFWULFDGHO
DMXVWHGHODVLHQWRVHFRUWDDXWRPÒWLಢ
FDPHQWHODDOLPHQWDFLäQHOÚFWULFDGXಢ
UDQWHXQEUHYHSHULRGRGHWLHPSR
1RWD
'HVSXÚVGHXQDFFLGHQWHFRQGHVಢ
SOLHJXHGHORVDLUEDJVVHGHVDFWLಢ
YDUÒQORVDMXVWHVPHPRUL]DGRVSDUD
FDGDERWäQGHSRVLFLäQ
5HSRVDEUD]RV
3XOVHHOERWäQ\OHYDQWHHOUHSRVDಢ
EUD]RV'HEDMRGHOUHSRVDEUD]RVKD\
XQFRPSDUWLPHQWRSRUWDREMHWRV
'LVSRVLWLYRVDX[LOLDUHVYÚDVHHOPDಢ
QXDOGHLQIRHQWUHWHQLPLHQWR
$VLHQWRVVLVWHPDVGHVHJXULGDG
&DOHIDFFLäQ
9HQWLODFLäQ
$VLHQWRVWUDVHURV
5HSRVDEUD]RV
3DUDDMXVWDUODSRWHQFLDGHFDOHIDFಢ
FLäQGHVHDGDSXOVHXQDRYDULDVYHಢ
FHVdGHODVLHQWRFRUUHVSRQGLHQWH(O
WHVWLJRGHFRQWUROHQHOERWäQLQGLFDHO
DMXVWH
1RVHUHFRPLHQGDHOXVRSURORQJDGR
HQHOQLYHOPÒVDOWRSDUDODVSHUVRQDV
FRQSLHOVHQVLEOH
/DFDOHIDFFLäQGHORVDVLHQWRVIXQಢ
FLRQDFRQHOPRWRUHQPDUFKD\GXಢ
UDQWHXQDSDUDGDDXWRPÒWLFD
6LVWHPDVWRSVWDUW
3DUDDMXVWDUODSRWHQFLDGHYHQWLODಢ
FLäQGHVHDGDSXOVHXQDRYDULDVYHಢ
FHVGHODVLHQWRGHODQWHURFRUUHVಢ
SRQGLHQWH
(OWHVWLJRGHFRQWUROHQHOERWäQLQGLFD
HODMXVWH
/DYHQWLODFLäQGHORVDVLHQWRVGHODQಢ
WHURVIXQFLRQDFRQHOPRWRUHQPDUಢ
FKD\GXUDQWHXQDSDUDGDDXWRPÒಢ
WLFD
6LVWHPDVWRSVWDUW
%DMHHOUHSRVDEUD]RV(OUHSRVDEUDಢ
]RVFRQWLHQHSRUWDYDVRV\XQSRUWDಢ
REMHWRV
$VLHQWRVVLVWHPDVGHVHJXULGDG
&LQWXURQHVGH
VHJXULGDG
$ODFHOHUDURIUHQDUEUXVFDPHQWHHO
YHKÞFXORORVFLQWXURQHVGHVHJXULGDG
VHEORTXHDQSDUDVXMHWDUDORVRFXಢ
SDQWHVHQODSRVLFLäQGHDVLHQWR'H
HVWHPRGRVHUHGXFHFRQVLGHUDEOHಢ
PHQWHHOULHVJRGHTXHVHSURGX]FDQ
OHVLRQHV
$GYHUWHQFLD
$EUäFKHVHHOFLQWXUäQGHVHJXULಢ
GDGDQWHVGHFDGDYLDMH
(QFDVRGHXQDFFLGHQWHODVSHUಢ
VRQDVTXHQROOHYDQORVFLQWXURQHV
GHVHJXULGDGSRQHQHQSHOLJURVXV
YLGDV\ODVGHORVGHPÒVRFXSDQಢ
WHV
/RVFLQWXURQHVGHVHJXULGDGHVWÒQGLಢ
VHâDGRVSDUDVHUXWLOL]DGRVSRUXQD
VRODSHUVRQDDODYH]6LVWHPDGHVHಢ
JXULGDGLQIDQWLO
&RPSUXHEHSHULäGLFDPHQWHTXHWRಢ
GDVODVSLH]DVGHOVLVWHPDGHFLQWXಢ
URQHVIXQFLRQDQELHQ\QRSUHVHQWDQ
GDâRVQLFRQWDPLQDFLäQ
+DJDVXVWLWXLUFXDOTXLHUFRPSRQHQWH
GDâDGR'HVSXÚVGHXQDFFLGHQWH
KDJDVXVWLWXLUORVFLQWXURQHV\ORVSUHಢ
WHQVRUHVGLVSDUDGRVHQXQWDOOHU
1RWD
3URFXUHTXHORVFLQWXURQHVQRTXHಢ
GHQDWUDSDGRVQLVXIUDQGDâRVFDXಢ
VDGRVSRUHOFDO]DGRXREMHWRVFRQ
ERUGHVDILODGRV(YLWHTXHHQWUHVXಢ
FLHGDGHQORVUHWUDFWRUHVGHORVFLQಢ
WXURQHV
5HFRUGDWRULRGHOFLQWXUäQGH
VHJXULGDG
&DGDDVLHQWRHVWÒHTXLSDGRFRQXQ
UHFRUGDWRULRGHOFLQWXUäQGHVHJXULಢ
GDGTXHVHLQGLFDPHGLDQWHORVWHVWLಢ
JRVGHFRQWURO7\C\SDUDORV
DVLHQWRVWUDVHURVPHGLDQWHHOVÞPಢ
EROR7HQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
(QIXQFLäQGHODYHUVLäQHVSRVLEOH
TXHHODVLHQWRGHODFRPSDâDQWHQR
HVWÚHTXLSDGRFRQUHFRUGDWRULRGHO
FLQWXUäQGHVHJXULGDG
/LPLWDGRUHVGHIXHU]DGHORV
FLQWXURQHV
(VWHGLVSRVLWLYRUHGXFHODIXHU]DVRಢ
EUHHOFXHUSRDOGHVEORTXHDUGHIRUPD
JUDGXDOHOFLQWXUäQGXUDQWHXQDFROLಢ
VLäQ
$VLHQWRVVLVWHPDVGHVHJXULGDG
3UHWHQVRUHVGHORVFLQWXURQHVGH
VHJXULGDG
(QFDVRGHFROLVLRQHVIURQWDOHV\WUDಢ
VHUDVDSDUWLUGHXQDGHWHUPLQDGD
JUDYHGDGVHWHQVDQORVFLQWXURQHV
GHVHJXULGDGGHODQWHURV
$GYHUWHQFLD
UHDOLFHPRGLILFDFLRQHVHQORVFRPಢ
SRQHQWHVGHORVSUHWHQVRUHVGHFLQಢ
WXURQHVSRUTXHVHSRGUÞDDQXODUHO
SHUPLVRGHFLUFXODFLäQGHOYHKÞFXOR
&LQWXUäQGHVHJXULGDGGH
WUHVSXQWRV
$EURFKDU
/DPDQLSXODFLäQLQFRUUHFWDSRU
HMHPSORGXUDQWHHOGHVPRQWDMHR
PRQWDMHGHORVFLQWXURQHVSXHGH
GLVSDUDUORVSUHWHQVRUHVGHFLQWXಢ
URQHV
/DDFWLYDFLäQGHORVSUHWHQVRUHVGH
FLQWXURQHVVHLQGLFDPHGLDQWHODLOXಢ
PLQDFLäQSHUPDQHQWHGHOWHVWLJRGH
FRQWUROT
/RVSUHWHQVRUHVGHFLQWXURQHVDFWLಢ
YDGRVGHEHQVXVWLWXLUVHHQXQWDOOHU
/RVSUHWHQVRUHVVHDFWLYDQVäORXQD
YH]
1RWD
1RHVWÒSHUPLWLGRPRQWDUDFFHVRಢ
ULRVQLFRORFDUREMHWRVTXHSXHGDQ
PHQRVFDEDUHOIXQFLRQDPLHQWRGH
ORVSUHWHQVRUHVGHFLQWXURQHV1R
/DURSDVXHOWDRPX\JUXHVDLPSLGH
TXHHOFLQWXUäQVHDMXVWHDOFXHUSR
1RFRORTXHQLQJëQREMHWRFRPRXQ
EROVRRXQWHOÚIRQRPäYLOHQWUHHOFLQಢ
WXUäQ\HOFXHUSR
$GYHUWHQFLD
([WUDLJDHOFLQWXUäQGHOUHWUDFWRU
JXÞHORSRUHQFLPDGHOFXHUSRVLQUHಢ
WRUFHUORHLQVHUWHODOHQJíHWDHQHO
FLHUUH'XUDQWHHOYLDMHWHQVHIUHಢ
FXHQWHPHQWHHOFLQWXUäQDEGRPLQDOWLಢ
UDQGRVXDYHPHQWHGHODEDQGDWRUÒಢ
FLFD
(OFLQWXUäQQRGHEHDSR\DUVHVRಢ
EUHREMHWRVGXURVRIUÒJLOHVJXDUಢ
GDGRVHQORVEROVLOORVGHODURSD
5HFRUGDWRULRGHOFLQWXUäQGHVHJXULಢ
GDG7C
$VLHQWRVVLVWHPDVGHVHJXULGDG
,QVLJQLD23&
3DUDDEURFKDUHOFLQWXUäQSÒVHORSRU
HOVRSRUWHVLWXDGRHQHOUHVSDOGR
$MXVWHGHODDOWXUD
([WUDLJDXQSRFRHOFLQWXUäQ
&DPELHHOUHJXODGRUGHDOWXUDKDಢ
FLDDUULEDRSXOVHHOERWäQSDUD
GHVDFRSODU\SXOVHHOUHJXODGRU
GHDOWXUDKDFLDDEDMR
$MXVWHODDOWXUDGHPRGRTXHHOFLQWXಢ
UäQSDVHSRUHOKRPEUR1RGHEHSDಢ
VDUSRUHOFXHOORRODSDUWHVXSHULRUGHO
EUD]R
1RORDMXVWHPLHQWUDVFRQGXFH
$VLHQWRVVLVWHPDVGHVHJXULGDG
'HVDEURFKDU
8VRGHOFLQWXUäQGHVHJXULGDG
GXUDQWHHOHPEDUD]R
6LVWHPDGHDLUEDJV
(OVLVWHPDGHODLUEDJHVWÒIRUPDGR
SRUXQDVHULHGHVLVWHPDVLQGLYLGXDಢ
OHVTXHGHSHQGHQGHOQLYHOGHHTXLಢ
SDPLHQWR
&XDQGRVHDFWLYDQORVDLUEDJVVHLQಢ
IODQHQPLOLVHJXQGRV7DPELÚQVH
GHVLQIODQWDQUÒSLGDPHQWHTXHDPHಢ
QXGRQRVHOOHJDQDSHUFLELUGXUDQWH
ODFROLVLäQ
$GYHUWHQFLD
3DUDVROWDUHOFLQWXUäQSXOVHHOERWäQ
URMRGHOFLHUUH
,QVLJQLD23&
6DTXHHOFLQWXUäQGHODVLHQWRGHOVRಢ
SRUWHVLWXDGRHQHOUHVSDOGRGHVSXÚV
GHGHVDEURFKDUOR
&LQWXURQHVGHVHJXULGDGHQORV
DVLHQWRVWUDVHURV
(OFLQWXUäQGHVHJXULGDGGHODVLHQWR
FHQWUDOVäORVHSXHGHH[WUDHUGHOUHಢ
WUDFWRUVLHOUHVSDOGRHVWÒHQFODYDGR
HQODSRVLFLäQPÒVDWUDVDGD
$GYHUWHQFLD
(OFLQWXUäQDEGRPLQDOGHEHSDVDU
ORPÒVEDMRSRVLEOHVREUHODSHOYLV
SDUDHYLWDUODSUHVLäQVREUHHODEಢ
GRPHQ
6LVHPDQLSXODQLQGHELGDPHQWH
ORVDLUEDJVSXHGHQGLVSDUDUVH
1RWD
/DXQLGDGHOHFWUäQLFDGHFRQWUROGHO
VLVWHPDGHDLUEDJV\GHORVSUHWHQಢ
VRUHVGHFLQWXURQHVHVWÒVLWXDGDHQ
OD]RQDGHODFRQVRODFHQWUDO1RVH
GHEHQGHSRVLWDUREMHWRVPDJQÚWLFRV
HQGLFKD]RQD
1RSHJXHQDGDHQODVWDSDVGHORV
DLUEDJVQLORVFXEUDFRQQLQJëQRWUR
PDWHULDO
$VLHQWRVVLVWHPDVGHVHJXULGDG
&DGDDLUEDJVHDFWLYDXQDYH]VRODಢ
PHQWH+DJDFDPELDUORVDLUEDJVDFಢ
WLYDGRVHQXQWDOOHU$GHPÒVSRGUÞD
VHUQHFHVDULRKDFHUVXVWLWXLUHOYRಢ
ODQWHHOWDEOHURGHLQVWUXPHQWRV
SDUWHGHOUHYHVWLPLHQWRODVMXQWDVGH
ODVSXHUWDVODVPDQLOODV\ORVDVLHQಢ
WRV
1RUHDOLFHPRGLILFDFLRQHVHQHOVLVಢ
WHPDGHDLUEDJVSRUTXHVHSRGUÞD
DQXODUHOSHUPLVRGHFLUFXODFLäQGHO
YHKÞFXOR
&XDQGRORVDLUEDJVVHLQIODQHVFDಢ
SDQJDVHVFDOLHQWHVTXHSXHGHQRFDಢ
VLRQDUTXHPDGXUDV
7HVWLJRGHFRQWUROTGHOVLVWHPDGH
DLUEDJV
6LVWHPDVGHUHWHQFLäQLQIDQWLOHQ
HODVLHQWRGHODFRPSDâDQWHFRQ
VLVWHPDVGHDLUEDJ
$GYHUWHQFLDVHJëQHOUHJODPHQWR
(&(5
(11(9(5XVHDUHDUZDUGIDFLQJ
FKLOGUHVWUDLQWRQDVHDWSURWHFWHGE\
DQ$&7,9($,5%$*LQIURQWRILW
'($7+RU6(5,286,1-85<WRWKH
&+,/'FDQRFFXU
'(1DFKKLQWHQJHULFKWHWH.LQGHUಢ
VLW]H1,(0$/6DXIHLQHP6LW]YHUಢ
ZHQGHQGHUGXUFKHLQHQGDYRUEHILQಢ
GOLFKHQ$.7,9(1$,5%$*JHVFKíW]W
LVWGDGLHVGHQ72'RGHU6&+:(5(
9(5/(7=81*(1'(6.,1'(6]XU
)ROJHKDEHQNDQQ
)51(-$0$,6XWLOLVHUXQVLÙJHG
HQಢ
IDQWRULHQWÚYHUVO
DUULÙUHVXUXQVLÙJH
SURWÚJÚSDUXQ&2866,1*21)/$ಢ
%/($&7,)SODFÚGHYDQWOXLVRXV
SHLQHG
LQIOLJHUGHV%/(6685(6
*5$9(6YRLUH0257(//(6ÑO
(1ಢ
)$17
(6181&$XWLOLFHXQVLVWHPDGHUHಢ
WHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒV
HQXQDVLHQWRSURWHJLGRSRUXQ$,5ಢ
%$*)5217$/$&7,923HOLJURGH
08(57(R/(6,21(6*5$9(6
SDUDHO1,Â2
58̶̷̸̧̧̮̬̬̹̀͆
͚͙͇͔͇͉͒͘͏͉͇͙͙͕ͣ͋͌͑͌͘
͚͍͋͌͗͏͉͇͚͙͕͙͉͕ͥ͌͌͗͐͒͘͘͠͏͕͓͝
͔͇͎͇͔͇͋͘͏͔͇͉͙͕͓͕͈͋͌ͣ͌͏͒ͦ
͕͈͕͚͕͉͇͔͔͕͓͕͔͙͇͔͕͗͋͛͗͒ͣ͐
͖͕͚͕͈͎͕͖͇͔͕͙͋͑͐͌͘͘͟͏͌͒͘͏
̶̵̴̵̴̧̧̫̺̱̬̹̱̲̬͙͕̿̾̈́ͅ
͓͕͍͙͖͌͗͏͉͙͌͘͏̸̷̳̬̹̯͑͏͒͏
̸̷̴̷̧̧̬̬̮̳̹̩̳̳̓͂
̷̴̨̧̬̬̱
1/*HEUXLN122,7HHQDFKWHUZDDUWV
JHULFKWNLQGHU]LWMHRSHHQVWRHOPHW
HHQ$&7,(9($,5%$*HUYRRURP
'2'(/,-.RI(5167,*/(76(/YDQ
KHW.,1'WHYRRUNRPHQ
'$%UXJ$/'5,*HQEDJXGYHQGWDXಢ
WRVWROSÖHWIRUV×GHPHG$.7,9$,5ಢ
%$*%$51(7NDQNRPPHL/,96ಢ
)$5(HOOHUNRPPH$/925/,*77,/
6.$'(
$VLHQWRVVLVWHPDVGHVHJXULGDG
69$QYÕQG$/'5,*HQEDNÖWYÕQG
EDUQVWROSÖHWWVÕWHVRPVN\GGDVPHG
HQIUDPIçUYDUDQGH$.7,9$,5%$*
'Ç'6)$//HOOHU$//9$5/,*$6.$ಢ
'25NDQGUDEED%$51(7
),µ/µ.26.$$1VLMRLWDWDDNVHSÕLQ
VXXQQDWWXDODVWHQWXUYDLVWXLQWDLVWXLಢ
PHOOHMRQNDHGHVVÕRQ$.7,,9,1(1
7859$7<<1</$36,92,.82//$
WDL9$00$878$9$.$9$67,
12%DNRYHUYHQGWEDUQHVLNULQJಢ
VXWVW\UPÖ$/'5,EUXNHVSÖHWVHWH
PHG$.7,9.2//,6-216387(IRಢ
UDQGDGHWNDQIéUHWLODW%$51(7XWಢ
VHWWHVIRU/,96)$5(RJIDUHIRU$/ಢ
925/,*(6.$'(5
37181&$XVHXPVLVWHPDGHUHಢ
WHQØÔRSDUDFULDQØDVYROWDGRSDUD
WUÒVQXPEDQFRSURWHJLGRFRPXP
$,5%$*$&7,92QDIUHQWHGR
PHVPRSRGHUÒRFRUUHUD3(5'$'(
9,'$RX)(5,0(1726*5$9(6QD
&5,$1¸$
,71RQXVDUHPDLXQVLVWHPDGLVLFXಢ
UH]]DSHUEDPELQLULYROWRDOO
LQGLHWUR
VXXQVHGLOHSURWHWWRGD$,5%$*$7ಢ
7,92GLIURQWHDGHVVRSHULFRORGL
0257(R/(6,21,*5$9,SHULO
%$0%,12
(/ˎˍˑ˃˩ˤ˴ˮˤ˰˦˩ˬ˭ˬ˦ˢ˜˱ˢ˭˞˦ˡ˦˧˹
˧˙˥˦˰˩˞˞˰˳˞˨ˢ˜˞˯˩ˢ˳ˬˮ˙˭ˮˬ˯˱˞
˭˜˰˶˰ˢ˧˙˥˦˰˩˞˭ˬ˲˭ˮˬ˰˱˞˱ˢ˺ˢ˱˞˦
˞˭˹˩ˢ˱˶˭˦˧˹˃ˋ˃ˏˁˍʿ˃ˏˍːʿˈˍ
ˡ˦˹˱˦˱ˬ˭˞˦ˡ˜˩˭ˬˮˢ˜˪˞˲˭ˬ˰˱ˢ˜
ˆʿˋʿːˇˊˍ˛ːˍˀʿˏˍ
ˑˏʿ˒ˊʿˑˇːˊˍ
3/1,(:2/12PRQWRZDøIRWHOLND
G]LHFLĊFHJR]ZUäFRQHJRW\IJHPGR
NLHUXQNXMD]G\QDIRWHOXSU]HG
NWäU\P]QDMGXMHVLĊ:ıõ&=21$32ಢ
'86=.$32:,(75=1$1LH]DVWRಢ
VRZDQLHVLĊGRWHJR]DOHFHQLDPRŬH
E\øSU]\F]\QöŊ0,(5&,OXE32ಢ
:$ū1<&+2%5$ū(ijX'=,(&.$
75$UND\DEDNDQELUØRFXNHPQL\HW
VLVWHPLQL.(6ġ1/ġ./(çQíQGHELU
$.7ġ)+$9$<$67,ď,LOHNRUXQಢ
PDNWDRODQELUNROWXNWDNXOODQPD\bQb]
¸2&8.Ç/(%ġ/ġ5YH\D$ď,5Ŏ(ಢ
.ġ/'(<$5$/$1$%ġ/ġ5
8.̴̵̞̱̲̯͔͉͌͏͕͑͗͏͙͕͉͚͙͐͌͘
͘͏͙͓͚͈͎͖͌͌͌͑͘͏͙͕͋͒ͦ͋ͬ͌͐͠
͉͙͇͔͕͉͙͕͈͒ͥͪͣͦ͒͘͘͏͓͔͇͎͇ͦ͋͞͞
͔͇͘͏̴̴̵͔͔͎̺̩̞̳̱̬͋ͬͬͅ
̶̵̵̶̨̫̺̱̬̮̬̱̯͔͇̿ͬ͑͌͌͟͝ͅ
͓͕͍͖͌͗͏͎͉͙͌͘͏̸̷͕̳̬̹̞͋͞͏
̸̷̵̴̵̵̷̴̴̧̧̬̰̮̪̹̩̳̺̩͆
̴̫̯̹̯̯
+862+$QHKDV]QÒOMRQKÒWUDIHOÚ
QÚ]ŁEL]WRQVÒJLJ\HUHNíOÚVWHOŁOUŁO
$.7¾9/º*=6²..$/YÚGHWWíOÚVHQ
PHUWD*<(50(.+$/²/²7YDJ\
.202/<6º5Í/º6º7RNR]KDWMD
+51,.$'$QHPRMWHNRULVWLWLVXVWDY
]DGUŮDYDQMD]DGMHFXRNUHQXWSUHPD
QDWUDJQDVMHGDOXV$.7,91,0=5$ýಢ
1,0-$678.20LVSUHGQMHJDWREL
PRJORGRYHVWLGR6057,LOL2=%,/-1ಢ
-,+2=/-('$]D',-(7(
6/1,.2/,QHQDPHőþDMWHRWURőNHJD
YDUQRVWQHJDVHGHŮDREUQMHQHJDY
QDVSURWQLVPHULYRŮQMHQDVHGHŮ]
$.7,912ý(/12=5$ý12%/$ಢ
=,12VDMSULWHPREVWDMDQHYDUQRVW
5(61,+DOL60571,+32Ő.2'%]D
2752.$
651,.$'$QHNRULVWLWLEH]EHGQRVQL
VLVWHP]DGHFXXNRPHVXGHFDRNUHಢ
QXWDXQD]DGQDVHGLőWXVD$.7,91,0
9$='8Ő1,0-$678.20LVSUHGVHಢ
GLőWD]DWRőWR'(7(PRŮHGD1$6ಢ
75$'$LOLGDVH7(Ő.23295(',
0.̴̵̧̯̱̪͔͕̿͌͑͗͏͙͙͙͕͌͌͋͌͑͘͘
͌͋͘͏͙͉͙͔͕͔͇͔͇͎͇͔͇͌͗͌͋͘͟
͌͋͘͏͙͎͇͙͌͟͟͏̴̵̧͙͔͕͕̱̹̯̩͌͘
$VLHQWRVVLVWHPDVGHVHJXULGDG
̵̴̵̶̷̴̩̮̫̺̬̯̬͖͔͕̿̾͗͌͋͌͊
̴̧̧͎͇͙͕͇͙͕͙͙͕͓͕͍̫̮̪̯̬͋͌͌͌͟
͏͒͏͇͈͋͏̵̶̵̷̴̵̹̬̱̩̬̫̬͋͌̿
%*̴̵̧̯̱̪͔͌͏͎͖͕͎͉͇͙͒͐͌
͙͇͇͇͇͇͔͇͎͇͋͌͑͌͋͒͑͊͒͌͋͋͘͘͠
͉͚͇͇͕͙͕͎͇͗͌͋͒͑͑ͦ͌͘͜͡͠͏͙͔͇͌
̴̴̧̧̧͎̱̹̯̩̩̮̫̺͗͌́̿͞
̴̧̧̩̮̪̲̩̯͖͔͓͕͍͇́̽͗͌͋͌ͦ͌͋
͙͌͘͘͏̸̷͔͕̳̹͊͌͋́͏͒͏
̸̷̵̴̵̴̷̴̴̧̧̧̬̯̮̩̬͔͇͆
̵̫̬̹̬̹
521XXWLOL]DœL1,&,2'$7óXQVFDXQ
SHQWUXFRSLOßQGUHSWDWVSUHSDUWHDGLQ
VSDWHDPDŏLQLLSHXQVFDXQSURWHMDW
GHXQ$,5%$*$&7,9ßQIDœDVD
DFHVWOXFUXSRDWHGXFHOD'(&(68/
VDX9ó7ó0$5($*5$9óD&23,ಢ
/8/8,
&61,.'<QHSRXŮÞYHMWHGČWVNî
]ÒGUŮQîV\VWÚPLQVWDORYDQîSURWL
VPČUXMÞ]G\QDVHGDGOHNWHUÚMHFKUÒಢ
QČQRSʼnHGVHGDGOHP$.7,91¾0$,5ಢ
%$*(00RKORE\GRMÞWN9²ŭ1º08
325$1ċ1¾QHERË057¾'¾7ċ7(
6.1,.'<QHSRXŮÞYDMWHGHWVNëVHಢ
GDþNXRWRþHQëY]DGQDVHGDGOHFKUÒಢ
QHQRP$.7¾91<0$,5%$*20SUHಢ
WRŮHPåŮHGåMVŕN6057,DOHER
9²ŭ1<0=5$1(1,$0',(Ŕ$Ŕ$
/7-2.,8%Ś'8QHPRQWXRNLWHDWJDO
DWJUĊŮWRVYDLNRWYLUWLQLPRVLVWHPRV
VĈG\QĈMHSULHőNXULöĠUHQJWD$.7<9,
2523$*$/9ćQHV9$,.$6*$/,
ŭŚ7,DUED5,07$,686,ŭ$/27,
/91(.ñ'ñ*$'ě-80ñQHL]PDQWRಢ
MLHWX]DL]PXJXULYĄUVWXEĄUQXVĄGHNಢ
OĜWLVĄGYLHWòNDVWLHNDL]VDUJòWDDUWòV
SULHNőòX]VWòGĜWX$.7ě98'52Őěಢ
%$663,/9(18MRSUHWĄMòJDGĜMXPò
%ă516YDUJśW60$*$675$80$6
YDL,(7%2-ñ
(7µ5*(NDVXWDJHWDKDSRROHVXXಢ
QDWXGODSVHWXUYDLVWHWLVWPHOPLOOHHHV
RQ$.7,,96(7859$3$'-$*$
NDLWVWXGLVWHVHVWVHHYæLESæKMXVಢ
WDGD/$36(6850$YæL7Æ6,6(9,ಢ
*$6786(
074$77WXŬDWUDŬŬLQJĘDWWIDOOLMĘDಢ
UHVOHMQLQQDĘDWDಫZDUDIXTVLWSURWHWW
Eಫ$,5%$*$77,9TXGGLHPXGDQ
MLVWDಫMLNNDZŬDO0(:7MHZđ5,(ė,
6(5-,OLW7)$/
0ÒVDOOÒGHODDGYHUWHQFLDUHTXHULGD
SRUHOUHJODPHQWR(&(5SRU
PRWLYRVGHVHJXULGDGQRXWLOLFHQXQFD
XQVLVWHPDGHUHWHQFLäQLQIDQWLORULHQಢ
WDGRKDFLDGHODQWHHQXQDVLHQWRGHO
DFRPSDâDQWHFRQXQDLUEDJIURQWDO
DFWLYR
3HOLJUR
1RXWLOLFHXQVLVWHPDGHUHWHQFLäQ
LQIDQWLOHQHODVLHQWRGHODFRPSDಢ
âDQWHFRQXQDLUEDJIURQWDODFWLYR
/DHWLTXHWDGHODLUEDJVHHQFXHQWUDD
DPERVODGRVGHOSDUDVROGHODFRPSDಢ
âDQWHGHODQWHUR
'HVDFWLYDFLäQGHORVDLUEDJV
6LVWHPDGHDLUEDJV
IURQWDOHV
(OVLVWHPDGHDLUEDJVIURQWDOHVVH
FRPSRQHGHXQDLUEDJHQHOYRODQWH\
XQRHQHOWDEOHURGHLQVWUXPHQWRVHQ
HOODGRGHODFRPSDâDQWH6HSXHGHQ
LGHQWLILFDUSRUHOUäWXOR$
$,5%$*
(OVLVWHPDGHODLUEDJGHODQWHURVHDFಢ
WLYDHQFDVRGHLPSDFWRIURQWDOGHXQD
FLHUWDJUDYHGDG(OHQFHQGLGRGHEH
HVWDUFRQHFWDGR
$VLHQWRVVLVWHPDVGHVHJXULGDG
$MXVWHHOFLQWXUäQGHVHJXULGDGFRಢ
UUHFWDPHQWH\HQFOÒYHORELHQ6äOR
DVÞSRGUÒSURWHJHUOHHODLUEDJ
6LVWHPDGHDLUEDJV
ODWHUDOHV
/RVDLUEDJVLQIODGRVDWHQëDQHOLPಢ
SDFWR\UHGXFHQFRQVLGHUDEOHPHQWH
SRUWDQWRHOULHVJRGHTXHORVRFXಢ
SDQWHVGHORVDVLHQWRVGHODQWHURVVXಢ
IUDQOHVLRQHVHQODSDUWHVXSHULRUGHO
FXHUSR\ODFDEH]D
$GYHUWHQFLD
6äORVHREWLHQHXQDSURWHFFLäQ
äSWLPDFXDQGRHODVLHQWRHVWÒHQ
ODSRVLFLäQFRUUHFWD
3RVLFLäQGHDVLHQWR
1RGHEHKDEHUREVWÒFXORVHQOD
]RQDGHLQIODGRGHORVDLUEDJV
/RVDLUEDJVLQIODGRVDWHQëDQHOLPಢ
SDFWR\UHGXFHQSRUWDQWRHOULHVJR
GHOHVLRQHVHQODSDUWHVXSHULRUGHO
FXHUSR\ODSHOYLVHQHOFDVRGHTXH
KD\DXQDFROLVLäQODWHUDOIXHUWH
$GYHUWHQFLD
(OVLVWHPDGHDLUEDJVODWHUDOHVVH
FRPSRQHGHXQDLUEDJHQFDGDUHVಢ
SDOGRGHORVDVLHQWRVGHODQWHURV\
XQRHQORVUHVSDOGRVGHORVDVLHQWRV
H[WHULRUHVWUDVHURV6HSXHGHQLGHQಢ
WLILFDUSRUHOUäWXOR$
$,5%$*
(OVLVWHPDGHDLUEDJVODWHUDOHVVHDFಢ
WLYDHQFDVRGHLPSDFWRODWHUDOGHXQD
FLHUWDJUDYHGDG(OHQFHQGLGRGHEH
HVWDUFRQHFWDGR
1RGHEHKDEHUREVWÒFXORVHQOD
]RQDGHLQIODGRGHORVDLUEDJV
1RWD
6äORGHEHQXWLOL]DUVHIXQGDVGH
DVLHQWRVKRPRORJDGDVSDUDHOYHಢ
KÞFXOR7HQJDFXLGDGRGHQRWDSDU
ORVDLUEDJV
$VLHQWRVVLVWHPDVGHVHJXULGDG
6LVWHPDGHDLUEDJVGH
FRUWLQD
(OVLVWHPDGHDLUEDJVGHFRUWLQDVH
FRPSRQHGHXQDLUEDJHQHOPDUFR
GHOWHFKRDFDGDODGR6HSXHGHQ
LGHQWLILFDUSRUHOUäWXOR$
$,5%$*HQORV
SLODUHVGHOWHFKR
(OVLVWHPDGHODLUEDJGHFRUWLQDVH
DFWLYDHQFDVRGHLPSDFWRODWHUDOGH
XQDFLHUWDJUDYHGDG(OHQFHQGLGR
GHEHHVWDUFRQHFWDGR
$GYHUWHQFLD
1RGHEHKDEHUREVWÒFXORVHQOD
]RQDGHLQIODGRGHORVDLUEDJV
/RVJDQFKRVHQORVDVLGHURVGHO
PDUFRGHOWHFKRVäORGHEHQXWLOLಢ
]DUVHSDUDFROJDUSUHQGDVGHYHVಢ
WLUOLJHUDVVLQSHUFKDV1RGHEHQ
JXDUGDUVHREMHWRVHQHVWDVSUHQಢ
GDVGHYHVWLU
'HVDFWLYDFLäQGHORV
DLUEDJV
'HEHQGHVDFWLYDUVHORVVLVWHPDVGH
DLUEDJIURQWDO\ODWHUDOSDUDHODVLHQWR
GHODFRPSDâDQWHVLVHYDDPRQWDUXQ
VLVWHPDGHUHWHQFLäQLQIDQWLOHQGLFKR
DVLHQWR(OVLVWHPDGHDLUEDJVGHFRUಢ
WLQDORVSUHWHQVRUHVGHFLQWXURQHV\
WRGRVORVVLVWHPDVGHDLUEDJGHOFRQಢ
GXFWRUSHUPDQHFHUÒQDFWLYDGRV
/RVDLUEDJVLQIODGRVDWHQëDQHOLPಢ
SDFWR\UHGXFHQSRUWDQWRHOULHVJR
GHOHVLRQHVHQODFDEH]DHQHOFDVR
GHTXHKD\DXQLPSDFWRODWHUDOIXHUWH
(OVLVWHPDGHODLUEDJGHODFRPSDಢ
âDQWHGHODQWHURSXHGHGHVDFWLYDUVH
FRQXQLQWHUUXSWRUDFFLRQDGRSRUOODYH
VLWXDGRHQHOODGRGHUHFKRGHOSDQHO
GHLQVWUXPHQWRV
$VLHQWRVVLVWHPDVGHVHJXULGDG
8WLOLFHODOODYHGHOHQFHQGLGRSDUDVHಢ
OHFFLRQDUODSRVLFLäQ
ORVDLUEDJVGHODFRPSDâDQWH
HVWÒQGHVDFWLYDGRV\QRVHLQಢ
IODUÒQHQFDVRGHFROLVLäQ6H
HQFLHQGHHOWHVWLJRGHFRQWURO
GHIRUPDSHUPDQHQWH6H
SXHGHPRQWDUXQVLVWHPDGHUHಢ
WHQFLäQLQIDQWLOGHDFXHUGRFRQ
HOFXDGUR3
3RVLFLRQHVGH
PRQWDMHGHOVLVWHPDGH
UHWHQFLäQLQIDQWLO1LQJëQ
DGXOWRGHEHRFXSDUHODVLHQWR
GHODFRPSDâDQWH
9 ORVDLUEDJVGHODFRPSDâDQWH
HVWÒQDFWLYDGRV6HHQFLHQGHHO
WHVWLJRGHFRQWURO9GHIRUPD
SHUPDQHQWH1RGHEHPRQWDUVH
QLQJëQVLVWHPDGHVHJXULGDGLQಢ
IDQWLO
3HOLJUR
3HOLJURGHPXHUWHSDUDHOQLâRVL
VHXVDXQVLVWHPDGHUHWHQFLäQLQಢ
IDQWLOHQXQDVLHQWRFRQHODLUEDJ
GHODFRPSDâDQWHDFWLYDGR
3HOLJURGHPXHUWHSDUDXQDSHUಢ
VRQDDGXOWDHQXQDVLHQWRFRQHO
DLUEDJGHODFRPSDâDQWHGHVDFWLಢ
YDGR
6LHOWHVWLJRGHFRQWURO9VHLOXPLQD
ORVVLVWHPDVGHDLUEDJGHODVLHQWRGHO
DFRPSDâDQWHVHLQIODUÒQHQFDVRGH
FROLVLäQ
6LORVLQGLFDGRUHVGHORVGRVPDQGRV
VHLOXPLQDQDODYH]KD\XQIDOORGHO
VLVWHPD(OHVWDGRGHOVLVWHPDQRVH
SXHGHGHWHUPLQDU\SRUWDQWRQR
GHEHRFXSDUQDGLHHODVLHQWRGHO
DFRPSDâDQWH9D\DDXQWDOOHULQPHಢ
GLDWDPHQWH
5HFXUUDLQPHGLDWDPHQWHDXQWDOOHUVL
QLQJXQRGHORVGRVWHVWLJRVGHFRQWURO
HVWÒLOXPLQDGR
&DPELHHOHVWDGRVäORFRQHOYHKÞFXOR
SDUDGR\HOHQFHQGLGRGHVFRQHFWDGR
(OHVWDGRVHPDQWLHQHKDVWDHOSUäಢ
[LPRFDPELR
7HVWLJRGHFRQWUROGHGHVDFWLYDFLäQ
GHODLUEDJ
$VLHQWRVVLVWHPDVGHVHJXULGDG
6LVWHPDVGHUHWHQFLäQ
LQIDQWLO
/HUHFRPHQGDPRVHOVLVWHPDGHUHಢ
WHQFLäQLQIDQWLO2SHODGDSWDGRHVSHಢ
FÞILFDPHQWHDOYHKÞFXOR
&XDQGRXWLOLFHXQVLVWHPDGHUHWHQಢ
FLäQLQIDQWLOSUHVWHDWHQFLäQDODVVLಢ
JXLHQWHVLQVWUXFFLRQHVGHXVR\PRQಢ
WDMHDVÞFRPRDODVLQVWUXFFLRQHVVXಢ
PLQLVWUDGDVFRQHOVLVWHPDGHUHWHQಢ
FLäQLQIDQWLO
6LHPSUHGHEHQFXPSOLUVHODVQRUPDV
ORFDOHVRQDFLRQDOHV(QDOJXQRVSDÞಢ
VHVHVWÒSURKLELGRHOXVRGHVLVWHPDV
GHUHWHQFLäQLQIDQWLOHQGHWHUPLQDGDV
SOD]DVGHDVLHQWR
3HOLJUR
&XDQGRVHXWLOLFHXQVLVWHPDGH
UHWHQFLäQLQIDQWLOHQHODVLHQWRGHO
DFRPSDâDQWHORVVLVWHPDVGHDLUಢ
EDJSDUDHODVLHQWRGHODFRPSDಢ
âDQWHGHEHQHVWDUGHVDFWLYDGRV
HQFDVRFRQWUDULRHOGHVSOLHJXH
GHORVDLUEDJVVXSRQHXQSHOLJUR
GHPXHUWHSDUDHOQLâR
(VWRHVDSOLFDEOHHVSHFLDOPHQWHVL
VHXVDQVLVWHPDVGHUHWHQFLäQLQಢ
IDQWLORULHQWDGRVKDFLDDWUÒVHQHO
DVLHQWRGHODFRPSDâDQWH
'HVDFWLYDFLäQGHORVDLUEDJV
(WLTXHWDGHODLUEDJ
6HOHFFLäQGHOVLVWHPDFRUUHFWR
/RVDVLHQWRVWUDVHURVVRQHOOXJDU
PÒVDGHFXDGRSDUDILMDUXQVLVWHPD
GHUHWHQFLäQLQIDQWLO
6LHPSUHTXHVHDSRVLEOHORVQLâRV
GHEHUÞDQYLDMDUPLUDQGRKDFLDDWUÒV
HQHOYHKÞFXOR$VÞVHJDUDQWL]DTXH
ODFROXPQDYHUWHEUDOGHOQLâRTXH
DëQHVPX\GÚELOVXIUDPHQRVWHQಢ
VLäQHQFDVRGHDFFLGHQWH
6RQDSURSLDGRVORVVLVWHPDVGHUHಢ
WHQFLäQTXHFXPSOHQFRQUHJXODFLRಢ
QHV81(&(YÒOLGDV&RPSUXHEHOD
REOLJDWRULHGDGGHOXVRGHVLVWHPDVGH
UHWHQFLäQLQIDQWLOVHJëQODVOH\HV\ORV
UHJODPHQWRVORFDOHV
$VHJëUHVHGHTXHHOVLVWHPDGHUHಢ
WHQFLäQLQIDQWLOTXHVHYDDPRQWDU
VHDFRPSDWLEOHFRQHOWLSRGHYHಢ
KÞFXOR
$VHJëUHVHGHTXHODSRVLFLäQGH
PRQWDMHGHOVLVWHPDGHUHWHQFLäQLQಢ
IDQWLOHQHOYHKÞFXORVHDFRUUHFWDFRQಢ
VXOWHODVWDEODVVLJXLHQWHV
/RVQLâRVGHEHQHQWUDU\VDOLUGHOYHಢ
KÞFXORVLHPSUHSRUHOODGRRSXHVWRDO
GHOWUÒILFR
&XDQGRQRVHXVHHOVLVWHPDGHUHಢ
WHQFLäQLQIDQWLODVHJëUHORFRQXQFLQಢ
WXUäQGHVHJXULGDGRGHVPäQWHORGHO
YHKÞFXOR
1RWD
1RSHJXHQDGDHQORVVLVWHPDVGH
UHWHQFLäQLQIDQWLOQLORVWDSHFRQQLQಢ
JëQRWURPDWHULDO
8QVLVWHPDGHUHWHQFLäQLQIDQWLOTXH
KD\DVLGRVRPHWLGRDWHQVLäQHQXQ
DFFLGHQWHGHEHVXVWLWXLUVH
$VLHQWRVVLVWHPDVGHVHJXULGDG
3RVLFLRQHVGHPRQWDMHGHOVLVWHPDGHUHWHQFLäQLQIDQWLO
2SFLRQHVSHUPLWLGDVSDUDHOPRQWDMHGHXQVLVWHPDGHUHWHQFLäQLQIDQWLO
(QHODVLHQWRGHODFRPSDâDQWH
1LYHOGHSHVRRGHHGDG
(QORVDVLHQWRVH[WHULRUHV (QHODVLHQWRFHQWUDO
DLUEDJDFWLYDGR DLUEDJGHVDFWLYDGR WUDVHURV
WUDVHUR
*UXSRKDVWDNJ
RPHVHVDSUR[
;
8
8
8
*UXSRKDVWDNJ
RDâRVDSUR[
;
8
8
8
*UXSR,GHDNJ
;
RGHPHVHVDDâRVDSUR[
8
8
8
*UXSR,,GHDNJ
RGHDDâRVDSUR[
;
;
8
8
*UXSR,,,GHDNJ
RGHDDâRVDSUR[
;
;
8
8
VLHOVLVWHPDGHUHWHQFLäQLQIDQWLOVHILMDFRQXQFLQWXUäQGHVHJXULGDGGHWUHVSXQWRVDMXVWHODDOWXUDGHODVLHQWRHQ
ODSRVLFLäQPÒVHOHYDGD\DVHJëUHVHGHTXHHOFLQWXUäQGHVHJXULGDGGHOYHKÞFXORVDOJDKDFLDGHODQWHGHVGHHOSXQWR
GHDQFODMHVXSHULRU$MXVWHODLQFOLQDFLäQGHOUHVSDOGRGHODVLHQWRWDQFHUFDFRPRVHDSRVLEOHGHODSRVLFLäQYHUWLFDO
SDUDDVHJXUDUODWHQVLäQGHOFLQWXUäQHQHOODGRGHODKHELOOD
8 DGHFXDGRSDUDXVRXQLYHUVDOHQFRPELQDFLäQFRQXQFLQWXUäQGHVHJXULGDGGHWUHVSXQWRV
; QRVHSHUPLWHQVLVWHPDVGHUHWHQFLäQLQIDQWLOHQHVWDFODVHGHSHVR
$VLHQWRVVLVWHPDVGHVHJXULGDG
2SFLRQHVSHUPLWLGDVSDUDHOPRQWDMHGHXQVLVWHPDGHUHWHQFLäQLQIDQWLO,62),;
&ODVHGHSHVR
(QHODVLHQWRGHO
&ODVHGHWDPDâR )LMDFLäQ DFRPSDâDQWH
(QORVDVLHQWRV
H[WHULRUHVWUDVHURV
(QHODVLHQWR
FHQWUDOWUDVHUR
*UXSRKDVWDNJ
(
,625 ;
,/
,/
*UXSRKDVWDNJ
(
,625 ;
,/
,/
'
,625 ;
,/
,/
&
,625 ;
,/
,/
'
,625 ;
,/
,/
&
,625 ;
,/
,/
%
,62)
;
,/,8)
,/,8)
%
,62); ;
,/,8)
,/,8)
$
,62)
;
,/,8)
,/,8)
*UXSR,,GHDNJ
RGHDDâRVDSUR[
;
,/
;
*UXSR,,,GHDNJ
RGHDDâRVDSUR[
;
,/
;
*UXSR,GHDNJ
$VLHQWRVVLVWHPDVGHVHJXULGDG
,/
DGHFXDGDSDUDVLVWHPDVGHUHWHQFLäQLQIDQWLO,62),;GHODVFDWHJRUÞDVಪHVSHFÞILFDGHOYHKÞFXORಫಪOLPLWDGDಫRಪVHಢ
PLXQLYHUVDOಫ(OVLVWHPDGHUHWHQFLäQ,62),;GHEHHVWDUDSUREDGRSDUDHOWLSRHVSHFÞILFRGHYHKÞFXOR
,8) DGHFXDGDSDUDVLVWHPDVGHUHWHQFLäQLQIDQWLO,62),;RULHQWDGRVKDFLDGHODQWHGHFDWHJRUÞDXQLYHUVDODSUREDGRV
SDUDVXXVRHQHVWDFODVHGHSHVR
; QLQJëQVLVWHPDGHUHWHQFLäQLQIDQWLO,62),;KRPRORJDGRHQHVWDFODVHGHSHVR
&ODVHGHWDPDâR,62),;\GLVSRVLWLYRGHDVLHQWR
$,62)
%,62)
%,62);
&,625
',625
(,625
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVGHWDOODPÒ[LPDHQODFODVHGHSHVR
GHDNJ
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVRGH
DNJ
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDGHODQWHSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVRGH
DNJ
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVGHWDOODPÒ[LPDHQODFODVHGHSHVR
KDVWDNJ
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVPÒVSHTXHâRVHQODFODVHGHSHVRKDVWD
NJ
VLVWHPDGHUHWHQFLäQLQIDQWLORULHQWDGRKDFLDDWUÒVSDUDQLâRVSHTXHâRVHQODFODVHGHSHVRKDVWD
NJ
$VLHQWRVVLVWHPDVGHVHJXULGDG
6LVWHPDVGHUHWHQFLäQ
LQIDQWLO,62),;
/RVVRSRUWHVGHPRQWDMH,62),;VH
LQGLFDQPHGLDQWHHOORJRWLSR,62),;
HQHOUHVSDOGR
$EUDODWDSDGHODDUJROODGHILMDFLäQ
UHTXHULGDPDUFDGDFRQHOVÞPEROR
GHODVLHQWRLQIDQWLO
$UJROODVGHILMDFLäQGHORV
DQFODMHV
(OYHKÞFXORWLHQHWUHVDUJROODVGHILMDಢ
FLäQHQODSDUWHWUDVHUDGHORVUHVSDOಢ
GRVWUDVHURVRHQHOÒUHDGHGHWUÒVGH
ORVUHSRVDFDEH]DV
/DVDUJROODVGHILMDFLäQSDUDHO
DQFODMHVXSHULRUHVWÒQPDUFDGDVFRQ
HOVÞPERORSDUDHODVLHQWRLQIDQWLO
)LMHORVVLVWHPDVGHVHJXULGDGLQIDQWLO
,62),;KRPRORJDGRVSDUDHOYHಢ
KÞFXORDORVVRSRUWHVGHPRQWDMH
,62),;/DVSRVLFLRQHVHVSHFÞILFDV
GHOYHKÞFXORSDUDORVVLVWHPDVGHUHಢ
WHQFLäQLQIDQWLO,62),;HVWÒQPDUFDಢ
GDVPHGLDQWHಮ,/ಯHQODWDEOD
1RVHSXHGHQPRQWDUPÒVGHGRVVLVಢ
WHPDVGHUHWHQFLäQLQIDQWLO,62),;HQ
ORVDVLHQWRVWUDVHURVDOPLVPRWLHPSR
\HQQLQJëQFDVRXQRDOODGRGHO
RWUR
$GHPÒVGHOVRSRUWHGHPRQWDMH
,62),;ILMHODFRUUHDGHO
DQFODMHVXSHULRUDODVDUJROODVGHILMDಢ
FLäQSDUDHODQFODMHVXSHULRU/DFRಢ
UUHDGHEHSDVDUHQWUHODVGRVYDULOODV
JXÞDGHOUHSRVDFDEH]DV
/DVSRVLFLRQHVGHODFDWHJRUÞDXQLಢ
YHUVDOSDUDORVVLVWHPDVGHUHWHQFLäQ
LQIDQWLO,62),;HVWÒQPDUFDGDVPHಢ
GLDQWHಮ,8)ಯHQODWDEOD
3RUWDREMHWRV
3RUWDREMHWRV
&RPSDUWLPHQWRVSRUWDREMHWRV *XDQWHUD 3RUWDYDVRV 3RUWDREMHWRVGHODQWHUR 3RUWDREMHWRVGHO
UHSRVDEUD]RV &RPSDUWLPHQWRGHFDUJD &XELHUWDGHOFRPSDUWLPHQWRGH
FDUJD &XELHUWDGHOSRUWDREMHWRVGHO
PDOHWHUR $UJROODV 6LVWHPDRUJDQL]DGRUGHOD
FDUJD 5HGGHVHJXULGDG 7ULÒQJXORGHDGYHUWHQFLD %RWLTXÞQ 6LVWHPDSRUWDHTXLSDMHVGHWHಢ
FKR 3RUWDHTXLSDMHVGHWHFKR ,QIRUPDFLäQVREUHODFDUJD &RPSDUWLPHQWRV
SRUWDREMHWRV
*XDQWHUD
$GYHUWHQFLD
1RJXDUGHREMHWRVSHVDGRVRDILಢ
ODGRVHQORVFRPSDUWLPHQWRVSRUಢ
WDREMHWRV(QFDVRFRQWUDULRVLVH
DEULHUDODWDSDGHOFRPSDUWLPHQWR
SRUWDREMHWRVSRUXQDIUHQDGD
IXHUWHXQDPDQLREUDEUXVFDGHO
YRODQWHRXQDFFLGHQWHORVRFXಢ
SDQWHVGHOYHKÞFXORSRGUÞDQVXIULU
OHVLRQHVSRUHOLPSDFWRGHGLFKRV
REMHWRV
/DJXDQWHUDGLVSRQHGHXQSRUWDEROÞಢ
JUDIRVXQSRUWDPRQHGDV\XQDGDSಢ
WDGRUSDUDODVWXHUFDVGHUXHGDDQWLಢ
UURER
/DJXDQWHUDGHEHHVWDUFHUUDGDPLHQಢ
WUDVVHFRQGXFH
3RUWDREMHWRV
3RUWDYDVRV
+D\SRUWDYDVRVDGLFLRQDOHVHQHOUHಢ
SRVDEUD]RVWUDVHUR%DMHHOUHSRVDಢ
EUD]RV
3RUWDREMHWRVGHODQWHUR
+D\RWURFRPSDUWLPHQWRSRUWDREMHWRV
VLWXDGRMXQWRDOYRODQWH
/RVSRUWDYDVRVHVWÒQVLWXDGRVHQOD
FRQVRODFHQWUDO
+D\XQDFDMDSRUWDREMHWRVVLWXDGD
GHWUÒVGHXQDFXELHUWDGHEDMRGHORV
PDQGRVGHFOLPDWL]DFLäQ3XOVHOD
WDSDSDUDDEULUOD
3RUWDREMHWRV
3RUWDREMHWRVGHO
UHSRVDEUD]RV
3RUWDREMHWRVHQHOUHSRVDEUD]RV
WUDVHUR
3RUWDREMHWRVHQHOUHSRVDEUD]RV
GHODQWHUR
&RPSDUWLPHQWRGH
FDUJD
$EDWLUORVUHVSDOGRVGHORV
DVLHQWRVWUDVHURV
%DMHHOUHSRVDEUD]RV\DEUDODWDSD
&LHUUHODWDSDDQWHVGHOHYDQWDUHOUHಢ
SRVDEUD]RV
3XOVHHOERWäQSDUDOHYDQWDUHOUHSRಢ
VDEUD]RV
(OUHVSDOGRGHODVLHQWRWUDVHURHVWÒ
GLYLGLGRHQGRVSDUWHV6HSXHGHQ
DEDWLUDPEDVSDUWHV
'HVPRQWHODFXELHUWDGHOFRPSDUWLಢ
PHQWRGHFDUJDVLHVQHFHVDULR
3UHVLRQH\VXMHWHHOILDGRUOXHJRSUHಢ
VLRQHORVUHSRVDFDEH]DVKDFLDDEDMR
/HYDQWHHOUHSRVDEUD]RVWUDVHUR
3RUWDREMHWRV
,QWURGX]FDORVFLQWXURQHVGHVHJXULಢ
GDGGHORVDVLHQWRVH[WHULRUHVHQODV
JXÞDV
7LUHGHODSDODQFDGHGHVEORTXHRHQ
XQRRDPERVODGRV\DEDWDORVUHVಢ
SDOGRVVREUHODEDQTXHWDGHDVLHQWR
/RVUHVSDOGRVHVWDUÒQELHQHQFODYDಢ
GRVFXDQGRQRVHYHDQQLQJXQDGH
ODVGRVPDUFDVURMDVODWHUDOHVFHUFD
GHODSDODQFDGHGHVEORTXHR
$GYHUWHQFLD
3DUDHQGHUH]DUORVOHYDQWHORVUHVಢ
SDOGRV\SäQJDORVHQSRVLFLäQYHUWLಢ
FDOKDVWDTXHRLJDTXHVHHQFODYDQ
$VHJëUHVHGHTXHORVFLQWXURQHVGH
VHJXULGDGGHORVDVLHQWRVH[WHULRUHV
HVWÚQFRORFDGRVHQODVJXÞDVFRUUHVಢ
SRQGLHQWHV
6äORVHGHEHFRQGXFLUHOYHKÞFXOR
VLORVUHVSDOGRVHVWÒQELHQHQFODಢ
YDGRVHQVXSRVLFLäQ(QFDVR
FRQWUDULRKD\ULHVJRGHOHVLRQHV
SHUVRQDOHVRGDâRVHQODFDUJDR
HOYHKÞFXORVLKD\XQIUHQD]R
EUXVFRRXQDFROLVLäQ
(OFLQWXUäQGHVHJXULGDGGHODVLHQWR
FHQWUDOSRGUÞDEORTXHDUVHVLHOUHVಢ
SDOGRVHHQGHUH]DGHPDVLDGRUÒSLಢ
GDPHQWH3DUDGHVEORTXHDUHOUHWUDFಢ
WRULQWURGX]FDHOFLQWXUäQGHVHJXULಢ
GDGRWLUHGHÚOXQRVPLOÞPHWURV\
OXHJRVXÚOWHOR
$SHUWXUDGHODHVFRWLOODHQHO
UHVSDOGRFHQWUDOWUDVHUR
%DMHHOUHSRVDEUD]RVWUDVHUR
3RUWDREMHWRV
&XELHUWDGHOFRPSDUWLPHQWR
GHFDUJD
1RFRORTXHQLQJëQREMHWRVREUHODFXಢ
ELHUWD
9HUVLäQSXHUWDV
'HVPRQWDUODFXELHUWD
7LUHGHODVD\DEUDODWDSD
6LUYHSDUDWUDQVSRUWDUREMHWRVODUJRV
\HVWUHFKRV
$VHJëUHVHGHTXHODWDSDHQFODYH
GHVSXÚVGHOHYDQWDUOD
/DFXELHUWDFHUUDGDSXHGHDVHJXಢ
UDUVHGHVGHHOLQWHULRUGHOFRPSDUWLಢ
PHQWRGHFDUJD*LUHHOERWäQ¡
ERWäQKRULಢ
ODFXELHUWDDVHJXಢ
]RQWDO
UDGDGHVGHHOODWHಢ
UDOGHOKDELWÒFXOR
ERWäQYHUWLFDO WDSDQRDVHJXUDGD
3RUWDREMHWRVHQHOFRPSDUWLPHQWR
GHFDUJD
(QIXQFLäQGHOHTXLSDPLHQWRSXHGHQ
KDEHUFDMDVSRUWDREMHWRVGHEDMRGHOD
FXELHUWDGHOFRPSDUWLPHQWRGHFDUJD
'HVHQJDQFKHODVFLQWDVGHVXMHFLäQ
GHOSRUWäQWUDVHUR
3RUWDREMHWRV
([WUDLJDODFXELHUWDGHODVJXÞDVODWHಢ
UDOHV
0RQWDUODFXELHUWD
,QVHUWHODFXELHUWDHQODVJXÞDVODWHಢ
UDOHV\EÒMHOD0RQWHODVFRUUHDVGH
ILMDFLäQHQHOSRUWäQWUDVHUR
6SRUWV7RXUHU&RXQWU\7RXUHU
&HUUDUODFXELHUWD
7LUHGHODFXELHUWDKDFLDDWUÒVXVDQGR
HODVLGHURKDVWDTXHVHHQFODYHHQODV
ILMDFLRQHVODWHUDOHV
$EULUODFXELHUWD
'HVPRQWDUODFXELHUWD
(PSXMHKDFLDDEDMRGHODVLGHURHQHO
H[WUHPRGHODFXELHUWD6HHQUROODDXಢ
WRPÒWLFDPHQWH
$EUDODFXELHUWDGHOFRPSDUWLPHQWR
GHFDUJD
0DQWHQJDOHYDQWDGDODSDODQFDGH
GHVEORTXHRHQHOODGRGHUHFKR/Hಢ
YDQWHSULPHURODFXELHUWDSRUHOODGR
GHUHFKR\VÒTXHODGHORVDORMDPLHQಢ
WRV
/DFXELHUWDGHVPRQWDGDSXHGHJXDUಢ
GDUVHGHEDMRGHOSLVRGHOFRPSDUWLಢ
PHQWRGHFDUJD
3RUWDREMHWRV
0RQWDUODFXELHUWD
,QVHUWHODFXELHUWDGHOFRPSDUWLPHQWR
GHFDUJDSRUHOODGRL]TXLHUGRHQVX
DORMDPLHQWRPDQWHQJDOHYDQWDGDOD
SDODQFDGHGHVEORTXHRLQVHUWHODFXಢ
ELHUWDHQHOODGRGHUHFKR\HQFOÒYHOD
3HUVLDQDHQHOSRUWäQWUDVHUR
&XELHUWDGHOSRUWDREMHWRV
GHOPDOHWHUR
&XELHUWDGHOSLVRGHVOL]DQWH
)OH[)ORRU
3DUDIDFLOLWDUHOXVRGHOFRPSDUWLಢ
PHQWRGHFDUJDSXHGHH[WUDHUVHOD
FXELHUWDGHOSLVR
([WUDFFLäQGHODFXELHUWDGHOSLVR
ထ (OHYHXQSRFRHOVXHORGHODPDಢ
QLOODKDVWDTXHVDOJDQORVURGLOORV
HOÒVWLFRVHQFDGDODGR
3DUDFXEULUHOFRPSDUWLPHQWRGH
FDUJDSRUFRPSOHWRPRQWHODSHUಢ
VLDQDHQORVFXDWURSXQWRVGHILMDFLäQ
HQHOLQWHULRUGHOSRUWäQWUDVHUR
ထ
3XOVHHOERWäQVLWXDGRGHEDMRGH
ODPDQLOOD\H[WUDLJDODFXELHUWD
GHOSLVRKDVWDTXHVHHQFODYH
&DUJXHORVREMHWRVVREUHHOSLVRHQ
HVWDSRVLFLäQ
9ROYHUDGHVOL]DUHOSLVRHQHO
FRPSDUWLPHQWRGHFDUJD
ထ 3XOVHHOERWäQVLWXDGRGHEDMRGH
ODPDQLOOD\GHVOLFHODFXELHUWDGHO
SLVRKDVWDTXHVHHQFODYHHQVX
SRVLFLäQILQDO
'HMHODFXELHUWDGHOSLVRHQODSRಢ
VLFLäQHOHYDGDPLHQWUDVHVWÚFDUಢ
JDGD
3DUDGHYROYHUODFXELHUWDGHOSLVR
DVXSRVLFLäQRULJLQDOGHVSXÚVGH
GHVFDUJDU
3RUWDREMHWRV
/HYDQWHODFXELHUWDGHOSLVROLJHಢ
UDPHQWH*LUHODPDQLOODKDFLDOD
SDUWHIURQWDO\HPSXMHHOURGLಢ
OORGHFDGDODGRPDQXDOPHQWH
/RVGRVURGLOORVGHEHQHQFODಢ
YDUHQVXSRVLFLäQ
ထ %DMHODFXELHUWDGHOSLVR
/DFXELHUWDGHOVXHORH[WUDÞGDSXHGH
OOHYDUXQDFDUJDGHXQPÒ[LPRGH
NJ/DFXELHUWDGHOVXHOROOHYD
XQDHWLTXHWDGHDGYHUWHQFLD
$VHJXUHORVREMHWRVFRQFRUUHDVGH
DPDUUHILMDGDVDODVDUJROODV
,QIRUPDFLäQVREUHODFDUJD
$UJROODV
ထ
$GYHUWHQFLD
1RFDUJXHQLGHVFDUJXHHOFRPಢ
SDUWLPHQWRFRQODFXELHUWDGHO
VXHORGHVOL]DQWHFXDQGRHOYHಢ
KÞFXORHVWÚDSDUFDGRHQXQD
FXHVWDSRUTXHODFXELHUWDGHO
VXHORSRGUÞDVDOLUVLQFRQWUROKDVWD
ODVSRVLFLRQHVH[WUHPDV
/HYDQWHREDMHODFXELHUWDGHO
VXHORVRORFXDQGRHVWÚGHVFDUಢ
JDGD+D\ULHVJRGHOHVLRQHV
3DUDDFFHGHUDODUXHGDGHUHSXHVWR
RDOMXHJRGHUHSDUDFLäQGHQHXPÒWLಢ
FRVOHYDQWHODFXELHUWDGHOSLVR\HQಢ
JDQFKHODFLQWDGHVXMHFLäQHQHO
ERUGHVXSHULRUGHOYDQRGHOSRUWäQ
WUDVHUR/DFXELHUWDVäORGHEHOHYDQಢ
WDUVH\HQJDQFKDUVHVLQRHVWÒFDUಢ
JDGD
/DVDUJROODVHVWÒQGLVHâDGDVSDUDILಢ
MDUODVFRUUHDVGHDPDUUHRXQDUHG
SDUDHOHTXLSDMH\HYLWDUTXHVHGHVಢ
SODFHQORVREMHWRVWUDQVSRUWDGRV
6LVWHPDRUJDQL]DGRUGHOD
FDUJD
)OH[2UJDQL]HUHVXQVLVWHPDIOH[LEOH
SDUDGLYLGLUHOFRPSDUWLPHQWRGH
FDUJD
(OVLVWHPDFRQVWDGH
ထ DGDSWDGRUHV
ထ EROVDVGHUHMLOOD
3RUWDREMHWRV
ထ JDQFKRV
ထ FDMDGHVHUYLFLR
ထ MXHJRGHFRUUHDV
/RVFRPSRQHQWHVVHPRQWDQHQFDಢ
UULOHVHQDPERVSDQHOHVODWHUDOHV
XVDQGRDGDSWDGRUHVRJDQFKRV
SDUDEORTXHDUHODGDSWDGRU3DUD
GHVPRQWDUODJLUHODSODFDGHODVLGHUR
KDFLDDEDMR\H[WUÒLJDODGHOFDUULO
%ROVLOORGHUHG
5HGGHGLYLVLäQYDULDEOH
0RQWDMHGHORVDGDSWDGRUHVHQ
ORVFDUULOHV
'REOHKDFLDDUULEDODSODFDGHODVLಢ
GHURLQVHUWHHODGDSWDGRUHQODUDಢ
QXUDVXSHULRUHLQIHULRUGHOFDUULO\
PXÚYDORKDVWDODSRVLFLäQGHVHDGD
*LUHODSODFDGHODVLGHURKDFLDDUULED
,QVHUWHORVDGDSWDGRUHVHQODSRVLಢ
FLäQGHVHDGDGHORVFDUULOHV8QDHQಢ
WUHVÞORVFRPSRQHQWHVGHODYDULOODGH
ODUHG
3DUDPRQWDUODHPSXMHXQSRFRSDUD
XQLUODVYDULOODV\PÚWDODVHQORVRULILಢ
FLRVFRUUHVSRQGLHQWHVGHORVDGDSWDಢ
GRUHV
3DUDGHVPRQWDUODHPSXMHXQSRFR
ODVYDULOODVHQWUHVÞ\H[WUÒLJDODVGH
ORVDGDSWDGRUHV
,QVHUWHORVDGDSWDGRUHVHQODSRVLಢ
FLäQGHVHDGDGHORVFDUULOHV(OEROVLಢ
OORGHODUHGSXHGHFROJDUVHGHORV
DGDSWDGRUHV
3RUWDREMHWRV
0RQWDMHGHORVJDQFKRVHQORV
FDUULOHV
&DMDGHVHUYLFLR
$OWHUQDWLYDPHQWHPRQWHORVGRVJDQಢ
FKRVHQHOFDUULOLQIHULRU,QVHUWH
GHVGHDUULEDORVVRSRUWHVLQIHULRUHV
GHODFDMDHQORVJDQFKRV
-XHJRGHFRUUHDV
,QVHUWHHOJDQFKRHQODSRVLFLäQGHಢ
VHDGDSULPHURHQODUDQXUDVXSHULRU
GHOFDUULO\OXHJRHQFÒMHORHQODUDQXUD
LQIHULRU3DUDGHVPRQWDUORH[WUÒLJDOR
SULPHURGHODUDQXUDVXSHULRU
0RQWHGRVJDQFKRVHQHOFDUULOVXSHಢ
ULRU,QVHUWHGHVGHDUULEDORVVRSRUWHV
VXSHULRUHVGHODFDMDHQORVJDQFKRV
,QVHUWHORVDGDSWDGRUHVGHOMXHJRGH
FRUUHDVHQXQFDUULO$VHJëUHVHGH
TXHODFRUUHDQRHVWÚUHWRUFLGD
(OMXHJRGHFRUUHDVWLHQHGRVFLHUUHV
/DFRUUHDSXHGHWHQVDUVH
3RUWDREMHWRV
5HGGHVHJXULGDG
6HSXHGHQPRQWDUGRVUHGHVGHVHಢ
JXULGDGGLIHUHQWHVGHWUÒVGHORV
DVLHQWRVGHODQWHURVRGHORVDVLHQWRV
WUDVHURV
1RVHGHEHQWUDQVSRUWDUSHUVRQDV
GHWUÒVGHODUHGGHVHJXULGDG
$EHUWXUDVGHPRQWDMHGHODQWHUDVHQ
HOPDUFRGHOWHFKRHQFODYHODYDULOOD
GHODUHGHQXQODGRFRPSULPDODYDಢ
ULOOD\HQFOÒYHODHQHORWURODGR
5HGGHVHJXULGDGGHWUÒVGHORV
DVLHQWRVWUDVHURV
5HGGHVHJXULGDGGHWUÒVGHORV
DVLHQWRVGHODQWHURV
%DMHORVUHSRVDFDEH]DVSUHVLRQDQGR
VREUHHOORV\DEDWDORVUHVSDOGRVGH
ORVDVLHQWRVWUDVHURV
)LMHORVJDQFKRVGHODVFRUUHDVSHಢ
TXHâDVHQORVOD]RVGHPRQWDMHGHO
VLVWHPDGHDQFODMHVXSHULRUHQOD
SDUWHSRVWHULRUGHORVUHVSDOGRVWUDಢ
VHURVDEDWLGRV
)LMHORVJDQFKRVGHODVFRUUHDVPÒV
DQFKDVHQORVGLVSRVLWLYRVGHEORಢ
TXHRGHORVUHVSDOGRVWUDVHURV
([WUDLJDODUHGGHOFDUWXFKR\HQFODYH
ODYDULOODGHODUHGHQXQODGRHQOD
DEHUWXUDGHPRQWDMHWUDVHUDGHO
PDUFRGHOWHFKR&RPSULPDODYDULOOD
\HQFOÒYHODHQHORWURODGR
'HVPRQWDMHGHOFDUWXFKR
(QUROOHODUHGGHVHJXULGDG
'HVPRQWHODFXELHUWDGHOFRPSDUWLಢ
PHQWRGHFDUJD
3RUWDREMHWRV
3DUDGHVEORTXHDUORJLUHHOFDUWXFKR
OLJHUDPHQWHKDFLDDWUÒV\H[WUÒLJDOR
KDFLDDUULEDGHODVILMDFLRQHV
0RQWDMHGHOFDUWXFKR
'HVPRQWHODFXELHUWDGHOFRPSDUWLಢ
PHQWRGHFDUJD
,QVHUWHHOFDUWXFKRHQODVILMDFLRQHV
GHDPERVODGRV2EVHUYHODVOHWUDV
/ODGRL]TXLHUGR\5
5ODGRGHUHFKR
HQHOFDUWXFKRFRPRD\XGDSDUDHO
PRQWDMH
*LUHHOFDUWXFKROLJHUDPHQWHKDFLD
GHODQWHSDUDEORTXHDUOR
$ORMDPLHQWRGHODVUHGHVGH
VHJXULGDG\ODFXELHUWDGHO
FRPSDUWLPHQWRGHFDUJD
/DUHGGHVHJXULGDGGHODQWHUD\HO
FDUWXFKRGHODUHGGHVHJXULGDGWUDಢ
VHUDVHSXHGHQFRORFDUMXQWRFRQOD
FXELHUWDGHOFRPSDUWLPHQWRGHFDUJD
GHEDMRGHOSLVRGHOFRPSDUWLPHQWRGH
FDUJD
$EUDHOSLVRGHOFRPSDUWLPHQWRGH
FDUJDWLUDQGRGHODVD3OLHJXH\FRORಢ
TXHHOSLVRGHWUÒVGHORVDVLHQWRVWUDಢ
VHURV
3RUWDREMHWRV
&RORTXHODFXELHUWDGHOFRPSDUWLಢ
PHQWRGHFDUJDFRQHOODGRVXSHULRU
KDFLDDEDMR\FRQODSDODQFDGHGHVಢ
EORTXHRGHOERUGHGHODQWHURGHUHFKR
6SRUWV7RXUHU&RXQWU\7RXUHU
%RWLTXÞQ
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV
7ULÒQJXORGHDGYHUWHQFLD
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV
*XDUGHHOWULÒQJXORGHDGYHUWHQFLDHQ
HOHVSDFLRVLWXDGRGHWUÒVGHODVFRಢ
UUHDVHQHOLQWHULRUGHOSRUWäQWUDVHUR
*XDUGHHOWULÒQJXORGHDGYHUWHQFLDHQ
HOHVSDFLRVLWXDGRGHWUÒVGHXQDFRಢ
UUHDHQHOODGRGHUHFKRGHOFRPSDUಢ
WLPHQWRGHFDUJD
*XDUGHHOERWLTXÞQHQHOHVSDFLRVLಢ
WXDGRGHWUÒVGHODUHGHQHOODGRL]ಢ
TXLHUGRGHOFRPSDUWLPHQWRGHFDUJD
3RUWDREMHWRV
6SRUWV7RXUHU&RXQWU\7RXUHU
6LVWHPDSRUWDHTXLSDMHV
GHWHFKR
3RUWDHTXLSDMHVGHWHFKR
0RQWDMHGHOSRUWDHTXLSDMHVGH
WHFKR
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV
3RUPRWLYRVGHVHJXULGDG\SDUDHYLಢ
WDUGDâRVHQHOWHFKRVHUHFRPLHQGD
XVDUHOVLVWHPDGHSRUWDHTXLSDMHVGH
WHFKRKRPRORJDGRSDUDVXYHKÞFXOR
6LJDODVLQVWUXFFLRQHVGHPRQWDMH\
GHVPRQWHHOSRUWDHTXLSDMHVFXDQGR
QRVHYD\DDXWLOL]DU
*XDUGHHOERWLTXÞQHQHOHVSDFLRVLಢ
WXDGRGHWUÒVGHXQDFRUUHDHQHOLQಢ
WHULRUGHOSRUWäQWUDVHUR
$EUDWRGDVODVSXHUWDV
/RVSXQWRVGHPRQWDMHHVWÒQVLWXDಢ
GRVHQODFDUURFHUÞDGHOYHKÞFXORHQ
HOPDUFRGHFDGDSXHUWD
4XLWHODWDSDGHFDGDSXQWRGHPRQಢ
WDMH\ILMHHOSRUWDHTXLSDMHVFRQORV
WRUQLOORVTXHVHDGMXQWDQ
3RUWDREMHWRV
6SRUWV7RXUHU&RXQWU\7RXUHUFRQUDÞO
GHWHFKR
,QIRUPDFLäQVREUHOD
FDUJD
ထ
ထ
ထ
ထ
3DUDILMDUHOSRUWDHTXLSDMHVGHWHFKR
LQVHUWHORVSHUQRVGHPRQWDMHHQORV
RULILFLRVLQGLFDGRVHQODLOXVWUDFLäQ
ထ
ထ
/RVREMHWRVSHVDGRVHQHOFRPಢ
SDUWLPHQWRGHFDUJDGHEHQFRORಢ
FDUVHDSR\DGRVFRQWUDORVUHVಢ
SDOGRVGHORVDVLHQWRV$VHJëಢ
UHVHGHTXHORVUHVSDOGRVHVWÚQ
ELHQHQFODYDGRVHVGHFLUTXH\D
QRVHYHDQODVPDUFDVURMDVMXQWR
DODSDODQFDGHGHVEORTXHR6LVH
SXHGHQDSLODUORVREMHWRVORV
PÒVSHVDGRVGHEHQFRORFDUVH
DEDMR
ထ
$VHJXUHORVREMHWRVFRQFRUUHDV
GHDPDUUHILMDGDVDODVDUJROODV
$VHJXUHORVREMHWRVVXHOWRVHQHO
FRPSDUWLPHQWRGHFDUJDSDUD
HYLWDUTXHVHPXHYDQ
&XDQGRVHWUDQVSRUWHQREMHWRV
HQHOFRPSDUWLPHQWRGHFDUJD
ORVUHVSDOGRVGHORVDVLHQWRVWUDಢ
VHURVQRGHEHQHVWDULQFOLQDGRV
KDFLDGHODQWH
/DFDUJDQRGHEHVREUHVDOLUSRU
HQFLPDGHOERUGHVXSHULRUGHORV
UHVSDOGRV
1RFRORTXHREMHWRVVREUHODFXಢ
ELHUWDGHOFRPSDUWLPHQWRGH
FDUJDQLHQHOWDEOHURGHLQVWUXಢ
PHQWRVQRWDSHHOVHQVRUVLಢ
WXDGRHQODSDUWHVXSHULRUGHOWDಢ
EOHURGHLQVWUXPHQWRV
/DFDUJDQRGHEHREVWDFXOL]DUHO
DFFLRQDPLHQWRGHORVSHGDOHVHO
IUHQRGHHVWDFLRQDPLHQWRRODSDಢ
ODQFDGHFDPELRVQLLPSHGLUODOLಢ
EHUWDGGHPRYLPLHQWRVGHOFRQಢ
GXFWRU1RVHGHEHQGHMDUREMHಢ
WRVVXHOWRVHQHOKDELWÒFXOR
3RUWDREMHWRV
ထ
1RFRQGX]FDFRQHOFRPSDUWLಢ
PHQWRGHFDUJDDELHUWR
$GYHUWHQFLD
$VHJëUHVHVLHPSUHGHTXHOD
FDUJDGHOYHKÞFXORHVWÚELHQVXಢ
MHWD(QFDVRFRQWUDULRORVREMHWRV
SRGUÞDQVDOLUODQ]DGRVSRUHOLQWHಢ
ULRUGHOYHKÞFXOR\FDXVDUOHVLRQHV
SHUVRQDOHVRGDâRVHQODFDUJD\
HOYHKÞFXOR
ထ
/DFDUJDëWLOHVODGLIHUHQFLDHQWUH
HOSHVRPÒ[LPRDXWRUL]DGRGHO
YHKÞFXORYÚDVHODSODFDGHFDಢ
UDFWHUÞVWLFDV\HOSHVRHQ
YDFÞRVHJëQQRUPD&(
3DUDFDOFXODUODFDUJDëWLOLQWURಢ
GX]FDORVGDWRVGHVXYHKÞFXOR
HQODWDEODGHSHVRVTXHILJXUDDO
SULQFLSLRGHHVWHPDQXDO
(OSHVRHQYDFÞRVHJëQQRUPD
&(LQFOX\HORVSHVRVFDOFXODGRV
SDUDHOFRQGXFWRUNJHOHTXLಢ
SDMHNJ\WRGRVORVOÞTXLGRV
GHSäVLWRGHFRPEXVWLEOHOOHQRDO
ထ
(OHTXLSDPLHQWRRSFLRQDO\ORV
DFFHVRULRVDXPHQWDQHOSHVRHQ
YDFÞR
&RQGXFLUFRQFDUJDHQHOWHFKR
DXPHQWDODVHQVLELOLGDGGHOYHಢ
KÞFXORDORVYLHQWRVODWHUDOHV\
WLHQHXQHIHFWRQHJDWLYRVREUHOD
PDQLREUDELOLGDGGHELGRDODHOHಢ
YDFLäQGHOFHQWURGHJUDYHGDG
'LVWULEX\DODFDUJDXQLIRUPHಢ
PHQWH\DVHJëUHODFRQFRUUHDV
GHVXMHFLäQ$MXVWHODSUHVLäQGH
ORVQHXPÒWLFRV\ODYHORFLGDGGHO
YHKÞFXORDODVFRQGLFLRQHVGH
FDUJD&RPSUXHEH\YXHOYDD
DSUHWDUODVFRUUHDVFRQIUHFXHQಢ
FLD
1RFRQGX]FDDPÒVGHNPK
/DFDUJDPÒ[LPDDXWRUL]DGDHQ
HOWHFKRHVGHNJ/DFDUJD
VREUHHOWHFKRHVODVXPDGHOD
FDUJD\GHOSHVRGHOSRUWDHTXLಢ
SDMHV
,QVWUXPHQWRV\PDQGRV
,QVWUXPHQWRV\
PDQGRV
0DQGRV $MXVWHGHOYRODQWH 0DQGRVHQHOYRODQWH 9RODQWHWÚUPLFR %RFLQD /LPSLDODYDSDUDEULVDV /LPSLDODYDOXQHWD 7HPSHUDWXUDH[WHULRU 5HORM 7RPDVGHFRUULHQWH &HQLFHURV 7HVWLJRVOXPLQRVRVHLQGLFDGRಢ
UHV &XDGURGHLQVWUXPHQWRV 9HORFÞPHWUR &XHQWDNLOäPHWURV &XHQWDNLOäPHWURVSDUFLDO &XHQWDUUHYROXFLRQHV ,QGLFDGRUGHFRPEXVWLEOH 6HOHFWRUGHFRPEXVWLEOH ,QGLFDGRUGHWHPSHUDWXUDGHO
UHIULJHUDQWHGHOPRWRU ,QGLFDFLäQGHVHUYLFLR 7HVWLJRVGHFRQWURO ,QWHUPLWHQWHV 5HFRUGDWRULRGHOFLQWXUäQGH
VHJXULGDG $LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV 'HVDFWLYDFLäQGHORVDLUEDJV 6LVWHPDGHFDUJD 7HVWLJRGHDYHUÞDV 6LVWHPDGHIUHQRV\HPEUDJXH $FFLRQHHOSHGDO )UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR $YHUÞDGHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFR 6LVWHPDDQWLEORTXHRGHIUHQRV
$%6 &DPELRDXQDPDUFKDPÒV
ODUJD 'LUHFFLäQGHHVIXHU]RYDULDEOH 'LVWDQFLDGHVHJXULGDG $YLVRGHFDPELRGHFDUULO $VLVWHQWHGHDSDUFDPLHQWRSRU
XOWUDVRQLGRV &RQWUROHOHFWUäQLFRGH
HVWDELOLGDGGHVDFWLYDGR &RQWUROHOHFWUäQLFRGH
HVWDELOLGDG\VLVWHPDGHFRQWURO
GHWUDFFLäQ 6LVWHPDGHFRQWUROGHWUDFFLäQ
GHVDFWLYDGR 7HPSHUDWXUDGHOUHIULJHUDQWHGHO
PRWRU 3UHFDOHQWDPLHQWR )LOWURGHSDUWÞFXODVGLÚVHO $G%OXH 6LVWHPDGHFRQWUROGHSUHVLäQGH
ORVQHXPÒWLFRV 3UHVLäQGHDFHLWHGHOPRWRU 1LYHOGHFRPEXVWLEOHEDMR ,QPRYLOL]DGRU 3DUDGDDXWRPÒWLFD /XFHVH[WHULRUHV /X]GHFDUUHWHUD $VLVWHQWHGHOX]GHFDUUHWHUD 6LVWHPDGHIDURVDGDSWDWLYRV /XFHVDQWLQLHEOD 3LORWRDQWLQLHEOD 5HJXODGRUGHYHORFLGDG &RQWUROGHYHORFLGDG
DGDSWDEOH 'HWHFWDGRYHKÞFXOR
SUHFHGHQWH /LPLWDGRUGHYHORFLGDG $VLVWHQWHGHVHâDOHVGHWUÒILFR 3XHUWDDELHUWD 3DQWDOODVGHLQIRUPDFLäQ &HQWURGHLQIRUPDFLäQGHO
FRQGXFWRU ,QVWUXPHQWRV\PDQGRV
3DQWDOODGHLQIRUPDFLäQHQ
FRORU &RQWURODGRUGHWHOÚIRQR
LQWHOLJHQWH 0HQVDMHVGHOYHKÞFXOR $YLVRVDFëVWLFRV 7HQVLäQGHODSLOD 3HUVRQDOL]DFLäQGHOYHKÞFXOR 2Q6WDU 0DQGRV
0DQGRVHQHOYRODQWH
$MXVWHGHOYRODQWH
'HVEORTXHHODSDODQFDDMXVWHHOYRಢ
ODQWHOXHJRHQFODYHODSDODQFD\DVHಢ
JëUHVHGHTXHHVWÚWRWDOPHQWHEORಢ
TXHDGD
(OYRODQWHVäORVHGHEHDMXVWDUFRQHO
YHKÞFXORSDUDGR\ODGLUHFFLäQGHVಢ
EORTXHDGD
6HSXHGHQPDQHMDUFRQORVPDQGRV
HQHOYRODQWHHOFHQWURGHLQIRUPDFLäQ
DOFRQGXFWRUHOVLVWHPDGHLQIRHQWUHಢ
WHQLPLHQWRDOJXQRVVLVWHPDVGH
D\XGDDODFRQGXFFLäQ\XQWHOÚIRQR
PäYLOFRQHFWDGR
&HQWURGHLQIRUPDFLäQGHOFRQGXFWRU
6LVWHPDGHD\XGDDODFRQGXFFLäQ
+D\PÒVLQIRUPDFLäQGLVSRQLEOHHQHO
PDQXDOGHOVLVWHPDGHLQIRHQWUHWHQLಢ
PLHQWR
,QVWUXPHQWRV\PDQGRV
9RODQWHWÚUPLFR
/DV]RQDVGHDJDUUHUHFRPHQGDGDV
GHOYRODQWHVHFDOLHQWDQDQWHV\DPÒV
WHPSHUDWXUDTXHHOUHVWR
/DFDOHIDFFLäQRSHUDFRQHOPRWRUHQ
PDUFKD\GXUDQWHXQDSDUDGDDXWRಢ
PÒWLFD
6LVWHPDVWRSVWDUW
/LPSLDODYDSDUDEULVDV
/LPSLDSDUDEULVDV
%RFLQD
$FWLYHODFDOHIDFFLäQSXOVDQGR/D
DFWLYDFLäQVHLQGLFDPHGLDQWHHO/('
GHOERWäQ
+, YHORFLGDGUÒSLGD
/2 YHORFLGDGOHQWD
,17 FRQH[LäQDLQWHUYDORVRIXQಢ
FLRQDPLHQWRDXWRPÒWLFRFRQ
VHQVRUGHOOXYLD
2)) GHVFRQHFWDU
3XOVHH
3DUDXQVROREDUULGRFXDQGRORVOLPಢ
SLDSDUDEULVDVHVWÒQGHVFRQHFWDGRV
EDMHODSDODQFDDODSRVLFLäQ
[
1RORVXWLOLFHVLHOSDUDEULVDVHVWÒKHಢ
ODGR
'HVFRQÚFWHORVHQWëQHOHVGHODYDGR
,QVWUXPHQWRV\PDQGRV
,QWHUYDORGHIXQFLRQDPLHQWRDMXVWDEOH
3DODQFDGHOOLPSLDSDUDEULVDVHQSRಢ
VLFLäQ,,17
*LUHODUXHGDGHDMXVWHSDUDDMXVWDUHO
LQWHUYDORGHVHDGR
LQWHUYDORFRUWR JLUHODUXHGDGH
DMXVWHKDFLDDUULED
LQWHUYDORODUJR JLUHODUXHGDGH
DMXVWHKDFLDDEDMR
)XQFLRQDPLHQWRDXWRPÒWLFRFRQ
VHQVRUGHOOXYLD
6HQVLELOLGDGUHJXODEOHGHOVHQVRUGH
OOXYLD
,17 IXQFLRQDPLHQWRDXWRPÒWLFR
FRQVHQVRUGHOOXYLD
*LUHODUXHGDGHDMXVWHSDUDDMXVWDUOD
VHQVLELOLGDG
VHQVLELOLGDG
JLUHODUXHGDGH
EDMD
DMXVWHKDFLDDEDMR
VHQVLELOLGDG
JLUHODUXHGDGH
DOWD
DMXVWHKDFLDDUULED
(OVHQVRUGHOOXYLDGHWHFWDODFDQWLGDG
GHDJXDHQHOSDUDEULVDV\UHJXODDXಢ
WRPÒWLFDPHQWHODIUHFXHQFLDGHORV
OLPSLDSDUDEULVDV
,QVWUXPHQWRV\PDQGRV
0DQWHQJDHOVHQVRUOLEUHGHSROYR
VXFLHGDG\KLHOR
6HSXHGHDFWLYDURGHVDFWLYDUODIXQಢ
FLäQGHOVHQVRUGHOOXYLDHQ3HUVRQDಢ
OL]DFLäQGHOYHKÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/DYDSDUDEULVDV\ODYDIDURV
/LPSLDODYDOXQHWD
7LUHGHODSDODQFD6HSXOYHUL]DOÞಢ
TXLGRGHODYDGRVREUHHOSDUDEULVDV\
HOOLPSLDOXQHWDVHUHDOL]DHOEDUULGR
YDULDVYHFHV
6LORVIDURVHVWÒQDFWLYDGRVVHURಢ
FLDUÒOÞTXLGRGHODYDGRVREUHÚVWRV
VLHPSUHTXHVHWLUHORVXILFLHQWHGHOD
SDODQFD$FRQWLQXDFLäQHOVLVWHPD
GHODYDIDURVSHUPDQHFHUÒLQRSHUDಢ
WLYRGXUDQWHFLFORVGHODYDGRRKDVWD
TXHVHKD\DGHVFRQHFWDGR\UHFRಢ
QHFWDGRHOPRWRURORVIDURV
/ÞTXLGRGHODYDGR
3XOVHHOLQWHUUXSWRUEDVFXODQWHSDUD
DFWLYDUHOOLPSLDOXQHWD
SRVLFLäQVXSHಢ IXQFLRQDPLHQWR
ULRU
FRQWLQXR
SRVLFLäQLQIHULRU IXQFLRQDPLHQWRLQಢ
WHUPLWHQWH
SRVLFLäQFHQWUDO GHVFRQHFWDU
,QVWUXPHQWRV\PDQGRV
(OVLVWHPDODYDOXQHWDVHGHVDFWLYD
FXDQGRHOQLYHOGHOÞTXLGRHVEDMR
/ÞTXLGRGHODYDGR
7HPSHUDWXUDH[WHULRU
3UHVLRQHODSDODQFD6HSXOYHUL]DOÞಢ
TXLGRGHODYDGRVREUHODOXQHWDWUDಢ
VHUD\HOOLPSLDOXQHWDVHUHDOL]DHOEDಢ
UULGRYDULDVYHFHV
1RORXWLOLFHVLODOXQHWDWUDVHUDHVWÒ
KHODGD
'HVFRQÚFWHORVHQWëQHOHVGHODYDGR
(OOLPSLDOXQHWDVHFRQHFWDDXWRPÒWLಢ
FDPHQWHFXDQGRHVWÒFRQHFWDGRHO
OLPSLDSDUDEULVDV\VHHQJUDQDODPDUಢ
FKDDWUÒV
/DDFWLYDFLäQRGHVDFWLYDFLäQGHHVWD
IXQFLäQVHSXHGHFDPELDUHQHOPHQë
$MXVWHVGHODSDQWDOODGHLQIRUPDFLäQ
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6LODWHPSHUDWXUDH[WHULRUGHVFLHQGH
D¡&DSDUHFHXQPHQVDMHGHDGಢ
YHUWHQFLDHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
(OGHVFHQVRGHODWHPSHUDWXUDVHLQಢ
GLFDLQPHGLDWDPHQWHHODXPHQWRVH
LQGLFDFRQXQOLJHURUHWUDVR
$GYHUWHQFLD
/DFDUUHWHUDSXHGHHVWDU\DKHಢ
ODGDDXQTXHODSDQWDOODPXHVWUH
XQRVSRFRVJUDGRVSRUHQFLPDGH
¡&
5HORM
/DKRUDVHPXHVWUDHQODSDQWDOODGH
LQIRUPDFLäQHQFRORUGH
,QVWUXPHQWRV\PDQGRV
/DIHFKD\ODKRUDVHPXHVWUDQHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORUGH
)XQFLRQDPLHQWRGHODSDQWDOODGHLQಢ
IRUPDFLäQHQFRORU
3DQWDOOD
$FFLRQHODSDQWDOODPHGLDQWHORVERಢ
WRQHVGHEDMRGHODPLVPD
3XOVH\OXHJRVHOHFFLRQHHOLFRQR
$-867(6JLUDQGR\SXOVDQGR
0(18
6HOHFFLRQHODSÒJLQDGHOPHQë+RUD
$MXVWHGHODKRUD
6HOHFFLRQHHOHOHPHQWRGHOPHQë
)LMDUWLHPSRSDUDHQWUDUHQHOUHVSHFಢ
WLYRVXEPHQë
6HOHFFLRQHHOERWäQGHSDQWDOOD$
$$7HQODSDUWHLQIHULRUGHODSDQWDOOD
$FWLYHHOPRGR&
&RQHF5'6RHO
PRGR'
'HVDFWLYDU0DQXDO
6LVHVHOHFFLRQDHOPRGR'
'HVDFWLYDU
0DQXDODMXVWHODVKRUDV\PLQXWRV
JLUDQGR\SXOVDQGR0
0(18
6HOHFFLRQHUHSHWLGDPHQWHHOERWäQ
GHSDQWDOOD
+5HQODSDUWHLQಢ
IHULRUGHODSDQWDOODSDUDVHOHFFLRQDU
XQPRGRGHKRUD
6LVHOHFFLRQDHOPRGRKRUDVVH
YLVXDOL]DUÒXQDWHUFHUDFROXPQDSDUD
$0\306HOHFFLRQHODRSFLäQGHಢ
VHDGD
(QHOPRGR&
&RQHF5'6ODVHâDO
5'6GHODPD\RUÞDGHWUDQVPLVRUHV
9+)DMXVWDDXWRPÒWLFDPHQWHODKRUD
/DVLQFURQL]DFLäQGHODKRUDSRU5'6
SXHGHWDUGDUXQRVPLQXWRV$OJXQDV
HPLVRUDVQRHPLWHQXQDVHâDOKRUDULD
FRUUHFWD(QWDOFDVRVHUHFRPLHQGD
GHVDFWLYDUODVLQFURQL]DFLäQDXWRPÒಢ
WLFDGHODKRUD
9XHOYDODSÒJLQDGHLQLFLRSXOಢ
VDQGR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
3DQWDOODGH
3XOVH\VHOHFFLRQHOXHJRHOLFRQR
$-867(6/DVHQWUDGDVVHGHEHQ
UHDOL]DUGLUHFWDPHQWHFRQHOGHGRVRಢ
EUHORVLFRQRVGHODSDQWDOODWÒFWLO
6HOHFFLRQHODSÒJLQDGHOPHQë)
)HFKD
\+RUD
$MXVWHGHODKRUD
6HOHFFLRQHHOHOHPHQWRGHOPHQë
$MXVWDUKRUDSDUDHQWUDUHQHOUHVSHFಢ
WLYRVXEPHQë
6HOHFFLRQHHOERWäQGHSDQWDOOD
$XWRDMXVWHHQODSDUWHLQIHULRUGHOD
SDQWDOOD$FWLYHHOPRGR$
$FWLYDGR
5'6RHOPRGR'
'HVDFWLYDGR
0DQXDO
6LVHVHOHFFLRQDHOPRGR
'HVDFWLYDGR0DQXDODMXVWHODVKRಢ
UDV\PLQXWRVFRQORVERWRQHVGHSDQಢ
WDOODKJ
,QVWUXPHQWRV\PDQGRV
7RTXHHOERWäQGHODSDQWDOOD
KHQHOODGRGHUHFKRGHODSDQWDOOD
SDUDVHOHFFLRQDUXQPRGRGHKRUD
6LVHOHFFLRQDHOPRGRKRUDVVH
YLVXDOL]DUÒXQDWHUFHUDFROXPQDSDUD
$0\306HOHFFLRQHODRSFLäQGHಢ
VHDGD
(QHOPRGR$
$FWLYDGR5'6ODVHâDO
5'6GHODPD\RUÞDGHWUDQVPLVRUHV
9+)DMXVWDDXWRPÒWLFDPHQWHODKRUD
/DVLQFURQL]DFLäQGHODKRUDSRU5'6
SXHGHWDUGDUXQRVPLQXWRV$OJXQDV
HPLVRUDVQRHPLWHQXQDVHâDOKRUDULD
FRUUHFWD(QWDOFDVRVHUHFRPLHQGD
GHVDFWLYDUODVLQFURQL]DFLäQDXWRPÒಢ
WLFDGHODKRUD
&RQILJXUDUIHFKD
6HOHFFLRQHHOHOHPHQWRGHOPHQë
$MXVWDUIHFKDSDUDHQWUDUHQHOUHVಢ
SHFWLYRVXEPHQë
6HOHFFLRQHHOERWäQGHSDQWDOOD
$XWRDMXVWHHQODSDUWHLQIHULRUGHOD
SDQWDOOD$FWLYHHOPRGR$
$FWLYDGR
5'6RHOPRGR'
'HVDFWLYDGR
0DQXDO
6LVHVHOHFFLRQDHOPRGR
'HVDFWLYDGR0DQXDODMXVWHODIHFKD
FRQORVERWRQHVGHSDQWDOODKRJ
(QHOPRGR$
$FWLYDGR5'6ODIHFKD
VHDMXVWDDXWRPÒWLFDPHQWH
9XHOYDODSÒJLQDGHLQLFLRSXOಢ
VDQGR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
7RPDVGHFRUULHQWH
+D\PÒVWRPDVGHFRUULHQWHGH9
VLWXDGDVHQODSDUWHGHODQWHUD\WUDಢ
VHUDGHODFRQVRODFHQWUDO
+D\XQDWRPDGHFRUULHQWHGH9
VLWXDGDGHWUÒVGHODFXELHUWDGHOSRUಢ
WDREMHWRVGHEDMRGHORVPDQGRVGH
FOLPDWL]DFLäQ3XOVHODWDSDSDUD
DEULUOD
,QVWUXPHQWRV\PDQGRV
(OFRQVXPRPÒ[LPRQRGHEHVXSHUDU
ORVYDWLRV
+D\XQDWRPDGHFRUULHQWHGH9
VLWXDGDHQODSDUWHWUDVHUDGHODFRQಢ
VRODFHQWUDO6LHVWÒFRQHFWDGRHOHQಢ
FHQGLGR\VHHQFKXIDXQGLVSRVLWLYR
VHLOXPLQDXQ/('YHUGHHQODWRPD
GHFRUULHQWH
(OFRQVXPRPÒ[LPRQRGHEHVXSHUDU
ORVYDWLRV
3HOLJUR
’/DWRPDGHFRUULHQWHIXQFLRQD
FRQXQDWHQVLäQHOÚFWULFDDOWD
/DVWRPDVGHFRUULHQWHVHGHVDFWLYDQ
DOGHVFRQHFWDUHOHQFHQGLGR$GHಢ
PÒVODVWRPDVGHFRUULHQWHVHGHVಢ
DFWLYDQWDPELÚQVLODWHQVLäQGHODEDಢ
WHUÞDGHOYHKÞFXORHVEDMD
/RVDFFHVRULRVHOÚFWULFRVTXHVHFRಢ
QHFWHQGHEHQFXPSOLUORVUHTXLVLWRV
VREUHFRPSDWLELOLGDGHOHFWURPDJQÚಢ
WLFDGHODQRUPD',19'(
1RFRQHFWHDFFHVRULRVGHVXPLQLVWUR
GHFRUULHQWHFRPRSXHGHQVHUGLVSRಢ
VLWLYRVGHFDUJDHOÚFWULFDREDWHUÞDV
3DUDHYLWDUGDâRVHQODVWRPDVQR
XWLOLFHFRQHFWRUHVLQDGHFXDGRV
6LVWHPDVWRSVWDUW
&HQLFHURV
$WHQFLäQ
6äORHVWÒQGHVWLQDGRVDXVDUVH
SDUDFHQL]D\QRSDUDUHVLGXRV
FRPEXVWLEOHV
(QORVSRUWDYDVRVVHSXHGHFRORFDU
XQFHQLFHURSRUWÒWLO
,QVWUXPHQWRV\PDQGRV
7HVWLJRVOXPLQRVRVH
LQGLFDGRUHV
&XDGURGHLQVWUXPHQWRV
'HSHQGLHQGRGHOPRGHORKD\GLVSRಢ
QLEOHVWUHVFXDGURVGHLQVWUXPHQWRV
ထ 1LYHOEÒVLFR
ထ 1LYHOLQWHUPHGLR
ထ 1LYHOVXSHULRU
(OFXDGURGHLQVWUXPHQWRVGHQLYHO
VXSHULRUVHSXHGHYLVXDOL]DUHQPRGR
GHSRUWLYRRPRGRWRXU
,QVWUXPHQWRV\PDQGRV
&XDGURGHLQVWUXPHQWRVGHQLYHOEÒVLFR
,QVWUXPHQWRV\PDQGRV
&XDGURGHLQVWUXPHQWRVGHQLYHOLQWHUPHGLR
,QVWUXPHQWRV\PDQGRV
&XDGURGHLQVWUXPHQWRVQLYHOVXSHULRUPRGRGHSRUWLYR
,QVWUXPHQWRV\PDQGRV
&XDGURGHLQVWUXPHQWRVGHQLYHOVXSHULRUPRGRWRXU
,QVWUXPHQWRV\PDQGRV
9LVWDJHQHUDO
.
,QWHUPLWHQWHV
7
5HFRUGDWRULRGHOFLQWXUäQGH
VHJXULGDG
T
$LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV
9
'HVDFWLYDFLäQGHORVDLUEDJV
F
'LUHFFLäQGHHVIXHU]R
YDULDEOH
O
6LVWHPDGHFRQWUROGHSUHVLäQ
GHORVQHXPÒWLFRV
(
'LVWDQFLDGHVHJXULGDG
(
3UHVLäQGHDFHLWHGHOPRWRU
$YLVRGHFDPELRGHFDUULO
LR 1LYHOGHFRPEXVWLEOHEDMR
8
J
$VLVWHQWHGHDSDUFDPLHQWR
SRUXOWUDVRQLGRV
G
,QPRYLOL]DGRU
Q
&RQWUROHOHFWUäQLFRGHHVWDELಢ
OLGDGGHVDFWLYDGR
'
$XWRVWRS
/XFHVH[WHULRUHV
E
&RQWUROHOHFWUäQLFRGHHVWDELಢ
OLGDG\VLVWHPDGHFRQWUROGH
WUDFFLäQ
!
/X]GHFDUUHWHUD
O
$VLVWHQWHGHOX]GHFDUUHWHUD
N
6LVWHPDGHFDUJD
9
7HVWLJRGHDYHUÞDV
1
6LVWHPDGHIUHQRV\
HPEUDJXH
$FFLRQHHOSHGDO
N
I
P
)UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR
6LVWHPDGHFRQWUROGHWUDFಢ
FLäQGHVDFWLYDGR
6LVWHPDGHIDURVDGDSWDWLYRV
6
/XFHVDQWLQLHEOD
M
$YHUÞDGHOIUHQRGHHVWDFLRಢ
QDPLHQWRHOÚFWULFR
7HPSHUDWXUDGHOUHIULJHUDQWH
GHOPRWRU
3UHFDOHQWDPLHQWR
P
3LORWRDQWLQLHEOD
6LVWHPDDQWLEORTXHRGH
IUHQRV$%6
)LOWURGHSDUWÞFXODVGLÚVHO
>
S
5HJXODGRUGHYHORFLGDG
>R
5
&DPELRDXQDPDUFKDPÒV
ODUJD
<
$G%OXH
&R
>
&RQWUROGHYHORFLGDGDGDSಢ
WDEOH
,QVWUXPHQWRV\PDQGRV
$
'HWHFWDGRYHKÞFXORSUHFHಢ
GHQWH
/
/LPLWDGRUGHYHORFLGDG
/
$VLVWHQWHGHVHâDOHVGH
WUÒILFR
K
3XHUWDDELHUWD
&XHQWDNLOäPHWURV
&XHQWDNLOäPHWURVSDUFLDO
/DGLVWDQFLDWRWDOUHJLVWUDGDVHYLVXDಢ
OL]DHQNP
/DGLVWDQFLDUHJLVWUDGDGHVGHODëOಢ
WLPDSXHVWDDFHURVHYLVXDOL]DHQOD
SÒJLQDGHORUGHQDGRUGHDERUGR+D\
GRVFXHQWDNLOäPHWURVSDUFLDOHVSDUD
GLIHUHQWHVUHFRUULGRV
&XDGURGHLQVWUXPHQWRVGHQLYHOEÒಢ
VLFR
6HOHFFLRQHHQWUHODSÒJLQD:\OD
SÒJLQD:JLUDQGRODUXHGDGH
DMXVWHHQODSDODQFDGHORVLQWHUPLಢ
WHQWHV
&DGDFXHQWDNLOäPHWURVSDUFLDOVH
SXHGHSRQHUDFHURGHPDQHUDLQGHಢ
SHQGLHQWHFXDQGRHOHQFHQGLGRHVWÒ
9HORFÞPHWUR
,QGLFDODYHORFLGDGGHOYHKÞFXOR
,QVWUXPHQWRV\PDQGRV
FRQHFWDGRVHOHFFLRQHODSÒJLQDFRಢ
UUHVSRQGLHQWHPDQWHQJDHOPDQGR
GHSXHVWDDFHURSXOVDGRGXUDQWH
XQRVVHJXQGRVRSXOVH6
6(7&/5HQ
ODSDODQFDGHORVLQWHUPLWHQWHV
&XDGURGHLQVWUXPHQWRVGHQLYHOLQಢ
WHUPHGLR\VXSHULRU
6HOHFFLRQHODSÒJLQD9
9LDMH$R9
9LDMH
%HQODSÒJLQD,,QIRUSXOVDQGRRHQ
HOYRODQWH
&DGDFXHQWDNLOäPHWURVSDUFLDOVH
SXHGHSRQHUDFHURGHPDQHUDLQGHಢ
SHQGLHQWHFXDQGRHOHQFHQGLGRHVWÒ
FRQHFWDGRVHOHFFLRQHODSÒJLQDFRಢ
UUHVSRQGLHQWHSXOVH!&RQILUPHSXOಢ
VDQGR
,QGLFDFLRQHVJHQHUDOHV
(OFXHQWDNLOäPHWURVSDUFLDOFRQWDELಢ
OL]DKDVWDNPGHGLVWDQFLD\
OXHJRVHSRQHD
&HQWURGHLQIRUPDFLäQGHOFRQGXFWRU
$WHQFLäQ
6LODDJXMDHVWÒHQHOVHFWRUGHDGಢ
YHUWHQFLDURMRVHKDH[FHGLGRHO
UÚJLPHQPÒ[LPRDGPLVLEOHGHO
PRWRU+D\SHOLJURSDUDHOPRWRU
&XHQWDUUHYROXFLRQHV
,QGLFDGRUGHFRPEXVWLEOH
,QGLFDHOUÚJLPHQGHOPRWRU
&RQGX]FDHQORVUHJÞPHQHVPÒVEDಢ
MRVGHOPRWRUHQFDGDPDUFKDWDQWR
FRPRVHDSRVLEOH
0XHVWUDHOQLYHOHQHOGHSäVLWRGH
FRPEXVWLEOHRJDVVHJëQHOPRGRGH
IXQFLRQDPLHQWR
/DIOHFKDLQGLFDHOODGRGHOYHKÞFXOR
GRQGHVHHQFXHQWUDODWDSDGHOGHSäಢ
VLWRGHFRPEXVWLEOH
,QVWUXPHQWRV\PDQGRV
(OWHVWLJRGHFRQWUROLR8VHLOXPLQD
VLHOQLYHOHQHOGHSäVLWRHVEDMR5Hಢ
SRVWHLQPHGLDWDPHQWHVLSDUSDGHD
'XUDQWHHOIXQFLRQDPLHQWRFRQJDVOLಢ
FXDGRHOVLVWHPDFDPELDDXWRPÒWLಢ
FDPHQWHDIXQFLRQDPLHQWRFRQJDVRಢ
OLQDFXDQGRVHDJRWDHOGHSäVLWRGH
JDV
1XQFDGHEHDJRWDUHOGHSäVLWRGH
FRPEXVWLEOH
'HELGRDOFRPEXVWLEOHTXHTXHGDHQ
HOGHSäVLWRODFDQWLGDGUHTXHULGD
SDUDOOHQDUHOGHSäVLWRSXHGHVHULQಢ
IHULRUDODFDSDFLGDGHVSHFLILFDGD
6HOHFWRUGHFRPEXVWLEOH
3XOVDQGR/
/3*HOVLVWHPDFDPELDHQಢ
WUHIXQFLRQDPLHQWRFRQJDVROLQD\FRQ
JDVOLFXDGR(O/('GHHVWDGR
PXHVWUDHOPRGRGHIXQFLRQDPLHQWR
DFWXDO
GHVFRಢ
IXQFLRQDPLHQWRFRQ
JDVROLQD
QHFWDU
SDUSDGHD FRPSUREDFLäQGH
FRQGLFLRQHVSDUDOD
WUDQVLFLäQGHFRPಢ
EXVWLEOHSDUDHOIXQಢ
FLRQDPLHQWRFRQJDV
OLFXDGR6HHQಢ
FLHQGHVLVHFXPSOHQ
ODVFRQGLFLRQHV
VH
IXQFLRQDPLHQWRFRQ
JDVOLFXDGR
HQFLHQGH
SDUSDGHD HOGHSäVLWRGHJDVOLಢ
FXDGRHVWÒYDFÞRR
YHFHV\VH
KD\XQIDOORHQHOVLVಢ
DSDJD
WHPDGHJDVOLFXDGR
$SDUHFHXQPHQVDMH
HQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFಢ
WRU
(QFXDQWRVHYDFÞDHOGHSäVLWRGHJDV
OLFXDGRVHFDPELDDXWRPÒWLFDPHQWH
DOIXQFLRQDPLHQWRFRQJDVROLQDKDVWD
TXHVHGHVFRQHFWHHOHQFHQGLGR
&RPEXVWLEOHSDUDIXQFLRQDPLHQWR
FRQJDVOLFXDGR
,QGLFDGRUGHWHPSHUDWXUD
GHOUHIULJHUDQWHGHOPRWRU
0XHVWUDODWHPSHUDWXUDGHOUHIULJHಢ
UDQWH
¡
HOPRWRUQRKDDOFDQ]DGR
WRGDYÞDVXWHPSHUDWXUD
GHIXQFLRQDPLHQWR
¡
WHPSHUDWXUDQRUPDOGH
]RQD
IXQFLRQDPLHQWR
FHQWUDO
¡
WHPSHUDWXUDGHPDVLDGR
DOWD
,QVWUXPHQWRV\PDQGRV
$WHQFLäQ
6LODWHPSHUDWXUDGHOUHIULJHUDQWH
GHOPRWRUHVGHPDVLDGRDOWDGHಢ
WHQJDHOYHKÞFXOR\SDUHHOPRWRU
3HOLJURSDUDHOPRWRU&RPSUXHEH
HOQLYHOGHUHIULJHUDQWH
6HYLVXDOL]DHOPHQëGHGXUDFLäQGHO
DFHLWHUHVWDQWHHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRU
,QGLFDFLäQGHVHUYLFLR
(OVLVWHPDGHYLGDëWLOGHODFHLWHOHLQಢ
GLFDFXÒQGRFDPELDUHODFHLWHGHOPRಢ
WRU\HOILOWUR6HJëQODVFRQGLFLRQHV
GHFRQGXFFLäQODLQGLFDFLäQGHOLQಢ
WHUYDORGHFDPELRGHDFHLWHGHOPRWRU
\GHOILOWURSXHGHYDULDUFRQVLGHUDEOHಢ
PHQWH
(QODSDQWDOODEÒVLFDVHOHFFLRQHHO
PHQë$
$MXVWHVSXOVDQGR0
0(18HQOD
SDODQFDGHOLQWHUPLWHQWH*LUHOD
UXHGDGHDMXVWHSDUDVHOHFFLRQDUOD
SÒJLQD,,QGLFHGHOHVWëWLOGHODFHLWH
(QODSDQWDOODGHQLYHOLQWHUPHGLR\
QLYHOVXSHULRUVHOHFFLRQHHOPHQë
,QIRSXOVDQGRSHQHOYRODQWH3XOVH
3SDUDVHOHFFLRQDUODSÒJLQD,,QGLFH
GHOHVWëWLOGHODFHLWH
/DGXUDFLäQGHODFHLWHUHVWDQWHVHLQಢ
GLFDHQSRUFHQWDMH
5HVWDXUDU
(QODSDQWDOODGHQLYHOEÒVLFRSXOVH
6(7&/5GHODSDODQFDGHOLQWHUPLಢ
WHQWHGXUDQWHYDULRVVHJXQGRVSDUD
UHVWDXUDU(OHQFHQGLGRWLHQHTXHHVಢ
WDUFRQHFWDGRSHURHOPRWRUSDUDGR
,QVWUXPHQWRV\PDQGRV
(QHOQLYHOLQWHUPHGLRRQLYHOVXSHULRU
SXOVH!HQHOYRODQWHSDUDDEULUOD
VXEFDUSHWD6HOHFFLRQH5
5HLQLFLDU\
FRQILUPHSXOVDQGRGXUDQWHYDULRV
VHJXQGRV(OHQFHQGLGRWLHQHTXHHVಢ
WDUFRQHFWDGRSHURHOPRWRUSDUDGR
3DUDTXHHOVLVWHPDIXQFLRQHFRUUHFಢ
WDPHQWHVHGHEHUHLQLFLDUFDGDYH]
TXHVHFDPELHHODFHLWHGHOPRWRU
5HFXUUDDODD\XGDGHXQWDOOHU
3Uä[LPRVHUYLFLR
&XDQGRHOVLVWHPDFDOFXODTXHODYLGD
ëWLOGHODFHLWHGHOPRWRUKDGLVPLಢ
QXLGRDSDUHFH&
&DPELHSURQWRHO
DFHLWHGHOPRWRUHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRU$FXGDDXQWDಢ
OOHUSDUDFDPELDUHODFHLWHGHOPRWRU\
HOILOWURHQHOSOD]RGHXQDVHPDQDR
FXDQGRKD\DUHFRUULGRNPORTXH
RFXUUDSULPHUR
,QIRUPDFLäQGHVHUYLFLR
7HVWLJRVGHFRQWURO
/RVWHVWLJRVGHFRQWUROGHVFULWRVQR
HVWÒQSUHVHQWHVHQWRGRVORVYHKÞFXಢ
ORV/DGHVFULSFLäQHVYÒOLGDSDUDWRಢ
GDVODVYHUVLRQHVGHFXDGURVGHLQVಢ
WUXPHQWRV/DSRVLFLäQGHORVWHVWLJRV
GHFRQWUROSXHGHYDULDUHQIXQFLäQGHO
HTXLSDPLHQWRGHOYHKÞFXOR$OFRQHFಢ
WDUHOHQFHQGLGRVHLOXPLQDUÒQEUHಢ
YHPHQWHODPD\RUÞDGHORVWHVWLJRVGH
FRQWURODPRGRGHSUXHEDIXQFLRQDO
/RVFRORUHVGHORVWHVWLJRVGHFRQWURO
VLJQLILFDQORVLJXLHQWH
URMR
3HOLJURUHFRUGDWRULRLPಢ
SRUWDQWH
$PDULOOR $YLVRLQIRUPDFLäQDYHUÞD
9HUGH &RQILUPDFLäQGHDFWLYDಢ
FLäQ
$]XO
&RQILUPDFLäQGHDFWLYDಢ
FLäQ
%ODQFR &RQILUPDFLäQGHDFWLYDಢ
FLäQ
9ÚDQVHWRGRVORVWHVWLJRVGHFRQWURO
HQORVFXDGURVGHLQVWUXPHQWRVGLVಢ
WLQWRV
,QWHUPLWHQWHV
.VHHQFLHQGHRSDUSDGHDHQYHUGH
6HHQFLHQGHEUHYHPHQWH
/DVOXFHVGHHVWDFLRQDPLHQWRHVWÒQ
FRQHFWDGDV
3DUSDGHD
(VWÒFRQHFWDGRXQLQWHUPLWHQWHRODV
OXFHVGHHPHUJHQFLD
3DUSDGHRUÒSLGRIDOORGHXQLQWHUPLಢ
WHQWHRGHOIXVLEOHFRUUHVSRQGLHQWH
IDOORGHXQLQWHUPLWHQWHGHOUHPROTXH
6XVWLWXFLäQGHERPELOODV)Xಢ
VLEOHV
,QWHUPLWHQWHV
5HFRUGDWRULRGHOFLQWXUäQ
GHVHJXULGDG
5HFRUGDWRULRGHOFLQWXUäQGH
VHJXULGDGHQORVDVLHQWRV
GHODQWHURV
7SDUDHODVLHQWRGHODFRPSDâDQWH
VHHQFLHQGHRSDUSDGHDHQURMRHQHO
FXDGURGHLQVWUXPHQWRV
CSDUDHODVLHQWRGHODFRPSDâDQWH
VHHQFLHQGHRSDUSDGHDHQURMRHQOD
FRQVRODFHQWUDOFXDQGRHODVLHQWR
HVWÒRFXSDGR
,QVWUXPHQWRV\PDQGRV
6HHQFLHQGH
'HVSXÚVGHFRQHFWDUHOHQFHQGLGR
KDVWDTXHVHDEURFKHHOFLQWXUäQGH
VHJXULGDG
(VWDGRGHOFLQWXUäQGHVHJXULGDG
GHORVDVLHQWRVWUDVHURVFXDGUR
GHLQVWUXPHQWRVGHQLYHO
LQWHUPHGLR\QLYHOVXSHULRU
3DUSDGHD
'HVSXÚVGHDUUDQFDUHOPRWRUGXಢ
UDQWHXQPÒ[LPRGHVHJXQGRVR
KDVWDTXHVHDEURFKHHOFLQWXUäQGH
VHJXULGDG
7VHLOXPLQDHQURMRRYHUGHRJULVHQ
HOFXDGURGHLQVWUXPHQWRVGHVSXÚV
GHKDEHUDUUDQFDGRHOPRWRU
(VWDGRGHOFLQWXUäQGHVHJXULGDG
GHORVDVLHQWRVWUDVHURVFXDGUR
GHLQVWUXPHQWRVEÒVLFR
7SDUSDGHDRVHHQFLHQGHHQHO&HQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
6HHQFLHQGH
'HVSXÚVGHKDEHUDUUDQFDGRHOPRಢ
WRUFXDQGRVHKDDEURFKDGRHOFLQWXಢ
UäQGHVHJXULGDG
3DUSDGHD
'HVSXÚVGHLQLFLDUODPDUFKDFXDQGR
HOFLQWXUäQGHVHJXULGDGHVWÒGHVDಢ
EURFKDGR
$EURFKDUVHHOFLQWXUäQGHVHJXULGDG
6HHQFLHQGHHQURMR
(ODVLHQWRRFXSDGR\HOFLQWXUäQGH
VHJXULGDGQRHVWÒDEURFKDGR
6HHQFLHQGHHQYHUGH
(ODVLHQWRRFXSDGR\HOFLQWXUäQGH
VHJXULGDGVHKDDEURFKDGR
6HHQFLHQGHHQJULV
$VLHQWRQRRFXSDGR
$EURFKDUVHHOFLQWXUäQGHVHJXULGDG
$LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV
TVHHQFLHQGHHQURMR
$OFRQHFWDUHOHQFHQGLGRHOWHVWLJRGH
FRQWUROVHHQFLHQGHGXUDQWHXQRV
VHJXQGRV6LQRVHHQFLHQGHQRVH
DSDJDDOFDERGHVHJXQGRVRVLVH
HQFLHQGHGXUDQWHODPDUFKDKD\XQD
DYHUÞDHQHOVLVWHPDGHDLUEDJV5Hಢ
FXUUDDODD\XGDGHXQWDOOHU/RVDLUಢ
EDJV\ORVSUHWHQVRUHVGHFLQWXURQHV
SRGUÞDQQRGLVSDUDUVHHQFDVRGHDFಢ
FLGHQWH
/DDFWLYDFLäQGHORVSUHWHQVRUHVGH
FLQWXURQHVRORVDLUEDJVVHLQGLFDPHಢ
GLDQWHODLOXPLQDFLäQSHUPDQHQWHGHO
WHVWLJRT
$GYHUWHQFLD
+DJDVXEVDQDUODFDXVDGHODDYHಢ
UÞDHQXQWDOOHULQPHGLDWDPHQWH
3UHWHQVRUHVGHFLQWXURQHVVLVWHPD
GHDLUEDJV
,QVWUXPHQWRV\PDQGRV
'HVDFWLYDFLäQGHORV
DLUEDJV
3HOLJUR
3HOLJURGHPXHUWHSDUDHOQLâRVL
VHXVDXQVLVWHPDGHUHWHQFLäQLQಢ
IDQWLOMXQWRFRQXQDLUEDJGHO
DFRPSDâDQWHDFWLYDGR
3HOLJURGHPXHUWHSDUDXQDSHUಢ
VRQDDGXOWDFRQXQDLUEDJGHO
DFRPSDâDQWHGHVDFWLYDGR
6LVWHPDGHFDUJD
9VHHQFLHQGHHQDPDULOOR
(ODLUEDJIURQWDOGHODFRPSDâDQWH
HVWÒDFWLYDGR
VHHQFLHQGHHQDPDULOOR
(ODLUEDJIURQWDOGHODFRPSDâDQWH
HVWÒGHVDFWLYDGR
NVHHQFLHQGHHQURMR
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU
HOPRWRU
6LVHHQFLHQGHFRQHOPRWRUHQ
PDUFKD
'HWHQJDHOYHKÞFXOR\SDUHHOPRWRU
/DEDWHUÞDGHOYHKÞFXORQRVHFDUJD
/DUHIULJHUDFLäQGHOPRWRUSXHGHHVಢ
WDULQWHUUXPSLGD/DXQLGDGGHVHUYRಢ
IUHQRSXHGHSHUGHUHILFDFLD5HFXUUD
DODD\XGDGHXQWDOOHU
7HVWLJRGHDYHUÞDV
9VHHQFLHQGHRSDUSDGHDHQDPDಢ
ULOOR
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU
HOPRWRU
6LVHHQFLHQGHFRQHOPRWRUHQ
PDUFKD
$YHUÞDHQHOVLVWHPDGHFRQWUROGH
HPLVLRQHV3XHGHQH[FHGHUVHORVOÞಢ
PLWHVGHHPLVLRQHVSHUPLWLGRV
(QPRWRUHVGLÚVHOHOSURFHVRGHOLPಢ
SLH]DGHOILOWURGHSDUWÞFXODVGLÚVHOHV
SRWHQFLDOPHQWHLPSRVLEOH
5HFXUUDLQPHGLDWDPHQWHDODD\XGD
GHXQWDOOHU
6LSDUSDGHDFRQHOPRWRUHQ
PDUFKD
$YHUÞDTXHSXHGHSURGXFLUGDâRVHQ
HOFDWDOL]DGRU5HGX]FDODYHORFLGDG
KDVWDTXHFHVHHOSDUSDGHR5HFXUUD
LQPHGLDWDPHQWHDODD\XGDGHXQWDಢ
OOHU
,QVWUXPHQWRV\PDQGRV
6LVWHPDGHIUHQRV\
HPEUDJXH
1VHHQFLHQGHHQURMR
(OQLYHOGHOOÞTXLGRGHOIUHQR\HPEUDಢ
JXHHVGHPDVLDGREDMRFXDQGRHO
IUHQRGHHVWDFLRQDPLHQWRPDQXDOQR
HVWÒDSOLFDGR
$GYHUWHQFLD
'HWÚQJDVH1RFRQWLQëHVXYLDMH
5HFXUUDDXQWDOOHU
6HLOXPLQDFXDQGRVHDSOLFDHOIUHQR
GHHVWDFLRQDPLHQWRPDQXDO\VHFRಢ
QHFWDHOHQFHQGLGR
$FFLRQHHOSHGDO
VHHQFLHQGHRSDUSDGHDHQDPDಢ
ULOOR
6HHQFLHQGH
6HGHEHSLVDUHOSHGDOGHOIUHQRSDUD
GHVEORTXHDUHOIUHQRGHHVWDFLRQDಢ
PLHQWRHOÚFWULFR
(VQHFHVDULRSLVDUHOSHGDOGHHPಢ
EUDJXHSDUDDUUDQFDUHOPRWRUHQ
PRGRGHSDUDGDDXWRPÒWLFD$XWRಢ
VWRS6LVWHPDVWRSVWDUW
3DUSDGHD
(VQHFHVDULRSLVDUHOSHGDOGHHPಢ
EUDJXHSDUDXQDUUDQTXHSULQFLSDOGHO
PRWRU
(QODSDQWDOODGHQLYHOLQWHUPHGLR\
QLYHOVXSHULRUHOPHQVDMHGHDFFLRಢ
QDPLHQWRGHOSHGDOVHLQGLFDHQOD
SDQWDOODGHLQIRUPDFLäQGHOFRQGXFWRU
)UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR
PVHHQFLHQGHRSDUSDGHDHQURMR
6HHQFLHQGH
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
HVWÒDFFLRQDGR
3DUSDGHD
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
QRHVWÒDFFLRQDGRRVROWDGRSRUFRPಢ
SOHWR3LVHHOSHGDOGHOIUHQRHLQWHQWH
UHLQLFLDUHOVLVWHPDVROWDQGRSULPHUR
HOIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
\OXHJRDSOLFÒQGROR6LPVLJXHSDUಢ
SDGHDQGRQRFRQGX]FD\UHFXUUDDOD
D\XGDGHXQWDOOHU
$YHUÞDGHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFR
MVHHQFLHQGHRSDUSDGHDHQDPDULಢ
OOR
6HHQFLHQGH
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
IXQFLRQDGHIRUPDGHIHFWXRVD
3DUSDGHD
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
HVWÒHQPRGRGHPDQWHQLPLHQWR'Hಢ
WHQJDHOYHKÞFXORDFFLRQH\VXHOWHHO
IUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
SDUDVXUHDMXVWH
,QVWUXPHQWRV\PDQGRV
$GYHUWHQFLD
+DJDVXEVDQDUODFDXVDGHODDYHಢ
UÞDHQXQWDOOHULQPHGLDWDPHQWH
6LVWHPDDQWLEORTXHRGH
IUHQRV$%6
SVHHQFLHQGHHQDPDULOOR
6HLOXPLQDGXUDQWHXQRVVHJXQGRV
GHVSXÚVGHFRQHFWDUHOHQFHQGLGR(O
VLVWHPDHVWÒRSHUDWLYRFXDQGRVH
DSDJDHOWHVWLJRGHFRQWURO
6LWUDQVFXUULGRVXQRVVHJXQGRVHO
WHVWLJRQRVHDSDJDRVLVHHQFLHQGH
GXUDQWHODPDUFKDKD\XQDDYHUÞDHQ
HOVLVWHPD$%6(OVLVWHPDGHIUHQRV
GHOYHKÞFXORVLJXHHVWDQGRRSHUDWLYR
SHURVLQODUHJXODFLäQGHO$%6
6LVWHPDDQWLEORTXHRGHIUHQRV
&DPELRDXQDPDUFKDPÒV
ODUJD
&XDQGRVHUHFRPLHQGDFDPELDUD
XQDPDUFKDPÒVODUJDVHPXHVWUDQ
>R5FRQHOQëPHURGHODVLJXLHQWH
PDUFKDVXSHULRU
(QDOJXQDVYHUVLRQHVODLQGLFDFLäQ
GHFDPELRGHPDUFKDDSDUHFHFRPR
SÒJLQDFRPSOHWDHQHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRU
'LUHFFLäQGHHVIXHU]R
YDULDEOH
FVHHQFLHQGHHQDPDULOOR
$YHUÞDHQHOVLVWHPDGHODGLUHFFLäQ
GHHVIXHU]RYDULDEOH(VWRSXHGHGDU
OXJDUDXQPD\RURPHQRUHVIXHU]R
SDUDPDQHMDUODGLUHFFLäQ5HFXUUDD
XQWDOOHU
'LVWDQFLDGHVHJXULGDG
(LQGLFDHODMXVWHGHGLVWDQFLDGHVHಢ
JXULGDGGHOFRQWUROGHFUXFHURDGDSಢ
WDWLYRRODVHQVLELOLGDGGHWHPSRUL]Dಢ
FLäQGHODDOHUWDGHFROLVLäQIURQWDO
PHGLDQWHEDUUDVGHGLVWDQFLDOOHQDV
&RQWUROGHYHORFLGDGDGDSWDEOH
$OHUWDGHFROLVLäQIURQWDO
$YLVRGHFDPELRGHFDUULO
VHHQFLHQGHHQYHUGHRSDUSDGHD
HQDPDULOOR
6HHQFLHQGHHQYHUGH
(OVLVWHPDHVWÒFRQHFWDGR\OLVWRSDUD
IXQFLRQDU
3DUSDGHDHQDPDULOOR
(OVLVWHPDGHWHFWDXQFDPELRLQYRಢ
OXQWDULRGHFDUULO
$VLVWHQWHGHDSDUFDPLHQWR
SRUXOWUDVRQLGRV
JVHHQFLHQGHHQDPDULOOR
$YHUÞDHQHOVLVWHPD
R
$YHUÞDSRUTXHORVVHQVRUHVHVWÒQVXಢ
FLRVRFXELHUWRVGHQLHYHRKLHOR
R
,QVWUXPHQWRV\PDQGRV
,QWHUIHUHQFLDVFDXVDGDVSRUIXHQWHV
H[WHUQDVGHXOWUDVRQLGRV8QDYH]HOLಢ
PLQDGDODIXHQWHGHODVLQWHUIHUHQಢ
FLDVHOVLVWHPDIXQFLRQDUÒFRQQRUಢ
PDOLGDG
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
GHOVLVWHPDHQXQWDOOHU
$VLVWHQWHGHDSDUFDPLHQWRSRUXOWUDಢ
VRQLGRV
&RQWUROHOHFWUäQLFRGH
HVWDELOLGDGGHVDFWLYDGR
QVHHQFLHQGHHQDPDULOOR
(OVLVWHPDHVWÒGHVDFWLYDGR
&RQWUROHOHFWUäQLFRGH
HVWDELOLGDG\VLVWHPDGH
FRQWUROGHWUDFFLäQ
EVHHQFLHQGHRSDUSDGHDHQDPDULಢ
OOR
6HHQFLHQGH
+D\XQDDYHUÞDHQHOVLVWHPD6H
SXHGHFRQWLQXDUFRQGXFLHQGR6LQ
HPEDUJRODHVWDELOLGDGGHPDUFKD
SXHGHHPSHRUDUGHSHQGLHQGRGHOHVಢ
WDGRGHODFDO]DGD
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
HQXQWDOOHU
3DUSDGHD
,QWHUYHQFLäQDFWLYDGHOVLVWHPD
3XHGHUHGXFLUVHODSRWHQFLDGHOPRಢ
WRU\HOYHKÞFXORSXHGHIUHQDUVHXQ
SRFRDXWRPÒWLFDPHQWH
&RQWUROHOHFWUäQLFRGHHVWDELOLGDG
6LVWHPDGHFRQWUROGHWUDFFLäQ
6LVWHPDGHFRQWUROGH
WUDFFLäQGHVDFWLYDGR
NVHHQFLHQGHHQDPDULOOR
(OVLVWHPDHVWÒGHVDFWLYDGR
7HPSHUDWXUDGHO
UHIULJHUDQWHGHOPRWRU
6VHHQFLHQGHHQURMR
6LVHHQFLHQGHFRQHOPRWRUHQ
PDUFKD
'HWHQJDHOYHKÞFXOR\SDUHHOPRWRU
$WHQFLäQ
/DWHPSHUDWXUDGHOUHIULJHUDQWHHV
GHPDVLDGRDOWD
&RPSUXHEHHOQLYHOGHUHIULJHUDQWHLQಢ
PHGLDWDPHQWH
6LHOQLYHOGHOUHIULJHUDQWHHVVXILಢ
FLHQWHUHFXUUDDXQWDOOHU
3UHFDOHQWDPLHQWR
VHHQFLHQGHHQDPDULOOR
(OSUHFDOHQWDPLHQWRGHOPRWRUGLÚVHO
HVWÒDFWLYDGR6HDFWLYDVäORVLODWHPಢ
SHUDWXUDH[WHULRUHVEDMD
)LOWURGHSDUWÞFXODVGLÚVHO
VHHQFLHQGHRSDUSDGHDHQDPDಢ
ULOOR
(OILOWURGHSDUWÞFXODVGLÚVHOGHEHOLPಢ
SLDUVH
,QVWUXPHQWRV\PDQGRV
6LJDFRQGXFLHQGRKDVWDTXHVH
DSDJXH3URFXUHTXHHOUÚJLPHQGHO
PRWRUQREDMHGHODVUSP
6HHQFLHQGH
(OILOWURGHSDUWÞFXODVGLÚVHOHVWÒOOHQR
,QLFLHHOSURFHVRGHOLPSLH]DFXDQWR
DQWHV
3DUSDGHD
6HKDDOFDQ]DGRODFDSDFLGDGPÒಢ
[LPDGHOILOWUR,QLFLHHOSURFHVRGH
OLPSLH]DLQPHGLDWDPHQWHSDUDTXHQR
VHGDâHHOPRWRU
)LOWURGHSDUWÞFXODVGLÚVHOVLVಢ
WHPDGHSDUDGDDUUDQTXH
$G%OXH
<SDUSDGHDHQDPDULOOR
(OQLYHOGH$G%OXHHVEDMR5HSRQJD
$G%OXHORDQWHVSRVLEOHSDUDHYLWDUOD
LPSRVLELOLGDGGHDUUDQFDUHOPRWRU
$G%OXH
6LVWHPDGHFRQWUROGH
SUHVLäQGHORVQHXPÒWLFRV
OVHHQFLHQGHRSDUSDGHDHQDPDULಢ
OOR
6HHQFLHQGH
3ÚUGLGDGHSUHVLäQGHORVQHXPÒWLಢ
FRV'HWHQJDHOYHKÞFXORLQPHGLDWDಢ
PHQWH\FRPSUXHEHODSUHVLäQGHORV
QHXPÒWLFRV
3DUSDGHD
$YHUÞDHQHOVLVWHPDRQHXPÒWLFRVLQ
VHQVRUGHSUHVLäQPRQWDGRSHM
UXHGDGHUHSXHVWR'HVSXÚV
VHJXQGRVHOWHVWLJRGHFRQWUROSHUಢ
PDQHFHHQFHQGLGR5HFXUUDDXQWDಢ
OOHU
3UHVLäQGHDFHLWHGHOPRWRU
(VHHQFLHQGHHQURMR
6HLOXPLQDDOFRQHFWDUHOHQFHQGLGR\
VHDSDJDSRFRGHVSXÚVGHDUUDQFDU
HOPRWRU
6LVHHQFLHQGHFRQHOPRWRUHQ
PDUFKD
$WHQFLäQ
/DOXEULFDFLäQGHOPRWRUSXHGHHVಢ
WDULQWHUUXPSLGD6HSXHGHQRFDಢ
VLRQDUGDâRVHQHOPRWRU\RHO
EORTXHRGHODVUXHGDVPRWULFHV
3LVHHOHPEUDJXH
3RQJDHOFDPELRHQSXQWR
PXHUWRSDODQFDVHOHFWRUDHQ1
1
$EDQGRQHODFDUUHWHUDORDQWHV
SRVLEOHVLQSRQHUHQSHOLJURD
RWURVYHKÞFXORV
'HVFRQHFWHHOHQFHQGLGR
$GYHUWHQFLD
&RQHOPRWRUDSDJDGRVHUÒQHFHಢ
VDULDXQDIXHU]DFRQVLGHUDEOHಢ
PHQWHPD\RUSDUDIUHQDU\JLUDUHO
,QVWUXPHQWRV\PDQGRV
YRODQWH'XUDQWHXQDSDUDGDDXಢ
WRPÒWLFD$XWRVWRSODXQLGDGGH
VHUYRIUHQRVHPDQWHQGUÒRSHUDಢ
WLYD
1RVDTXHODOODYHKDVWDTXHHOYHಢ
KÞFXORQRVHHQFXHQWUHGHWHQLGR
'HORFRQWUDULRHOEORTXHRGHOYRಢ
ODQWHSRGUÞDDFFLRQDUVHSRUVRUಢ
SUHVD
&RPSUXHEHHOQLYHOGHDFHLWHDQWHV
GHUHFXUULUDODD\XGDGHXQWDOOHU
1LYHOGHFRPEXVWLEOHEDMR
LR8VHHQFLHQGHRSDUSDGHDHQ
DPDULOOR
6HHQFLHQGH
(OQLYHOGHOGHSäVLWRGHFRPEXVWLEOH
HVGHPDVLDGREDMR
3DUSDGHD
&RPEXVWLEOHDJRWDGR5HSRVWHLQPHಢ
GLDWDPHQWH1XQFDGHEHDJRWDUHOGHಢ
SäVLWRGHFRPEXVWLEOH
5HSRVWDMH
&DWDOL]DGRU
3XUJDGHOVLVWHPDGHFRPEXVWLEOH
GLÚVHO
,QPRYLOL]DGRU
GSDUSDGHDHQDPDULOOR
$YHUÞDHQHOVLVWHPDGHOLQPRYLOL]Dಢ
GRU1RVHSXHGHDUUDQFDUHOPRWRU
3DUDGDDXWRPÒWLFD
'VHLOXPLQDFXDQGRHOPRWRUHVWÒHQ
XQDSDUDGDDXWRPÒWLFD
6LVWHPDVWRSVWDUW
/XFHVH[WHULRUHV
VHHQFLHQGHHQYHUGH
/DVOXFHVH[WHULRUHVHVWÒQHQFHQGLಢ
GDV
/X]GHFDUUHWHUD
!VHHQFLHQGHHQD]XO
6HHQFLHQGHFXDQGRHVWÒFRQHFWDGD
ODOX]GHFDUUHWHUDRFXDQGRVHDFFLRಢ
QDQODVUÒIDJDV
$VLVWHQWHGHOX]GH
FDUUHWHUD
OVHHQFLHQGHHQYHUGH
6HDFWLYDHODVLVWHQWHGHOX]GHFDUUHಢ
WHUDYÚDVHHOVLVWHPDGHIDURVDGDSಢ
WDWLYRV
6LVWHPDGHIDURV
DGDSWDWLYRV
IVHHQFLHQGHRSDUSDGHDHQDPDULಢ
OOR
6HHQFLHQGH
$YHUÞDHQHOVLVWHPD
5HFXUUDDODD\XGDGHXQWDOOHU
3DUSDGHD
(OVLVWHPDKDFDPELDGRDOX]GH
FUXFHVLPÚWULFD
(OWHVWLJRGHFRQWUROISDUSDGHDGXಢ
UDQWHDSUR[LPDGDPHQWHVHJXQGRV
GHVSXÚVGHFRQHFWDUHOHQFHQGLGR
FRPRXQUHFRUGDWRULRGHIDURVVLPÚಢ
WULFRV
,QVWUXPHQWRV\PDQGRV
/XFHVDQWLQLHEOD
VHHQFLHQGHHQYHUGH
/RVIDURVDQWLQLHEODHVWÒQFRQHFWDಢ
GRV
3LORWRDQWLQLHEOD
PVHHQFLHQGHHQDPDULOOR
(OSLORWRDQWLQLHEODHVWÒHQFHQGLGR
5HJXODGRUGHYHORFLGDG
>VHHQFLHQGHHQEODQFRRYHUGH
6HHQFLHQGHHQEODQFR
(OVLVWHPDHVWÒHQFHQGLGR
6HHQFLHQGHHQYHUGH
(OUHJXODGRUGHYHORFLGDGHVWÒDFWLಢ
YDGR/DYHORFLGDGGHDMXVWHHVWÒLQಢ
GLFDGDHQODVSDQWDOODVGHQLYHOLQWHUಢ
PHGLRRQLYHOVXSHULRUFHUFDGHOVÞPಢ
EROR>
5HJXODGRUGHYHORFLGDG
&RQWUROGHYHORFLGDG
DGDSWDEOH
&R>VHHQFLHQGHHQEODQFRR
YHUGH
6HHQFLHQGHHQEODQFR
(OVLVWHPDHVWÒHQFHQGLGR
6HHQFLHQGHHQYHUGH
(OFRQWUROGHYHORFLGDGDGDSWDEOH
HVWÒDFWLYDGR/DYHORFLGDGGHDMXVWH
HVWÒLQGLFDGDFHUFDGHOVÞPEROR&R
>
&RQWUROGHYHORFLGDGDGDSWDEOH
'HWHFWDGRYHKÞFXOR
SUHFHGHQWH
$VHHQFLHQGHHQYHUGHRSDUSDGHD
HQDPDULOOR
6HHQFLHQGHHQYHUGH
6HKDGHWHFWDGRXQYHKÞFXORSUHFHಢ
GHQWHHQHOPLVPRFDUULO
6HHQFLHQGHHQDPDULOOR
/DGLVWDQFLDKDVWDXQYHKÞFXORHQPRಢ
YLPLHQWRTXHVHHQFXHQWUDGHODQWHHV
GHPDVLDGRFRUWDRDODSUR[LPDUVHD
RWURYHKÞFXORGHPDVLDGRUÒSLGR
$OHUWDGHFROLVLäQIURQWDO&RQಢ
WUROGHYHORFLGDGDGDSWDEOH
/LPLWDGRUGHYHORFLGDG
/VHHQFLHQGHHQEODQFRRYHUGH
6HHQFLHQGHHQEODQFR
(OVLVWHPDHVWÒHQFHQGLGR
6HHQFLHQGHHQYHUGH
(OOLPLWDGRUGHYHORFLGDGHVWÒDFWLಢ
YDGR/DYHORFLGDGGHDMXVWHHVWÒLQಢ
GLFDGDFHUFDGHOVÞPEROR/
/LPLWDGRUGHYHORFLGDG
$VLVWHQWHGHVHâDOHVGH
WUÒILFR
/PXHVWUDODVVHâDOHVGHWUÒILFRGHಢ
WHFWDGDVFRPRWHVWLJRGHFRQWURO
$VLVWHQWHGHVHâDOHVGHWUÒILFR
,QVWUXPHQWRV\PDQGRV
3XHUWDDELHUWD
KVHHQFLHQGHHQURMR
+D\DELHUWDXQDSXHUWDRHOSRUWäQ
WUDVHUR
3DQWDOODVGH
LQIRUPDFLäQ
&HQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
(OFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRUVHHQFXHQWUDHQHOFXDGURGHLQVಢ
WUXPHQWRV
'HSHQGLHQGRGHODYHUVLäQ\HOFXDಢ
GURGHLQVWUXPHQWRVHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRUHVWÒGLVSRಢ
QLEOHHQSDQWDOODGHQLYHOEÒVLFRQLYHO
LQWHUPHGLRRQLYHOVXSHULRU
(OFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRULQGLFDHQIXQFLäQGHOHTXLSR
ထ FXHQWDNLORPHWURVWRWDO\SDUFLDO
ထ LQIRUPDFLäQGHOYHKÞFXOR
ထ LQIRUPDFLäQGHOYLDMHFRPEXVWLಢ
EOH
ထ LQIRUPDFLäQVREUHODHFRQRPÞD
ထ LQIRUPDFLäQVREUHHOUHQGLPLHQWR
ထ PHQVDMHVGHOYHKÞFXOR\GHDOHUWD
ထ LQIRUPDFLäQVREUHHODXGLRHLQಢ
IRHQWUHWHQLPLHQWR
ထ LQIRUPDFLäQVREUHHOWHOÚIRQR
ထ
ထ
LQIRUPDFLäQVREUHODQDYHJDFLäQ
DMXVWHVGHOYHKÞFXOR
3DQWDOODGHQLYHOEÒVLFR
/DVSÒJLQDVGHODSDQWDOODGHQLYHO
EÒVLFRVHVHOHFFLRQDQSXOVDQGR
0(18HQODSDODQFDGHOLQWHUPLWHQWH
/RVVÞPERORVGHOPHQëSULQFLSDOVH
PXHVWUDQHQODOÞQHDVXSHULRUGHOD
SDQWDOOD
ထ :0
0HQë,QIRUPDFLäQ
ထ ;0
0HQëGHFRQILJXUDFLäQ
ထ V0
0HQë(FRQRPÞD
,QVWUXPHQWRV\PDQGRV
$OJXQDVGHODVIXQFLRQHVPRVWUDGDV
YDUÞDQFXDQGRHOYHKÞFXORHVWÒHQ
PDUFKD\FXDQGRHVWÒSDUDGR$OJXಢ
QDVIXQFLRQHVVäORHVWÒQGLVSRQLEOHV
FXDQGRHOYHKÞFXORHVWÒHQPDUFKD
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$MXVWHVPHPRUL]DGRV
6HOHFFLäQGHPHQëV\IXQFLRQHV
/RVPHQëV\ODVIXQFLRQHVVHSXHGHQ
VHOHFFLRQDUPHGLDQWHORVERWRQHVHQ
ODSDODQFDGHORVLQWHUPLWHQWHV
*LUHODUXHGDGHDMXVWHSDUDVHOHFFLRಢ
QDUXQDVXESÒJLQDGHOPHQëSULQFLSDO
RDMXVWDUXQYDORUQXPÚULFR
3XOVHHOERWäQ6
6(7&/5SDUDVHOHFಢ
FLRQDU\FRQILUPDUXQDIXQFLäQ
/RVPHQVDMHVGHOYHKÞFXOR\VHUYLFLR
VRQHPHUJHQWHVHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRUFXDQGRHVQHಢ
FHVDULR&RQILUPHPHQVDMHVSXOಢ
VDQGR6
6(7&/50HQVDMHVGHOYHಢ
KÞFXOR
3DQWDOODGHQLYHOPHGLR\QLYHO
VXSHULRU
/DVSÒJLQDVGHOPHQëVHLQGLFDQSXOಢ
VDQGRSHQHOYRODQWH3XOVH4R3
SDUDVHOHFFLRQDUXQPHQëSXOVH
SDUDFRQILUPDU/DVSÒJLQDVGHOPHQë
VHOHFFLRQDEOHVVRQ
3XOVH0
0(18SDUDFDPELDUHQWUHORV
PHQëVSULQFLSDOHVRSDUDYROYHUGHXQ
VXEPHQëDOVLJXLHQWHQLYHOVXSHULRU
GHOPHQë
ထ ,QIR
ထ 3UHVWDFLRQHV
ထ $XGLR
ထ 7HOÚIRQR
ထ 1DYHJDFLäQ
ထ $MXVWHV
$OJXQDVGHODVIXQFLRQHVPRVWUDGDV
YDUÞDQFXDQGRHOYHKÞFXORHVWÒHQ
PDUFKD\FXDQGRHVWÒSDUDGR$OJXಢ
QDVIXQFLRQHVVäORHVWÒQGLVSRQLEOHV
FXDQGRHOYHKÞFXORHVWÒHQPDUFKD
,QVWUXPHQWRV\PDQGRV
(OFXDGURGHLQVWUXPHQWRVGHQLYHO
VXSHULRUVHSXHGHYLVXDOL]DUHQPRGR
GHSRUWLYRRPRGRWRXU9HDPÒV
DEDMR0HQë&RQILJXUDFLäQ7HPDV
GHSDQWDOOD
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$MXVWHVPHPRUL]DGRV
6HOHFFLäQGHPHQëV\IXQFLRQHV
/RVPHQëV\ODVIXQFLRQHVVHSXHGHQ
VHOHFFLRQDUPHGLDQWHORVERWRQHVGHO
ODGRGHUHFKRGHOYRODQWH
3XOVHSSDUDDEULUODSÒJLQDGHOPHQë
SULQFLSDO
6HOHFFLRQHXQDSÒJLQDGHOPHQëSULQಢ
FLSDOFRQ4R3
&RQILUPHXQDSÒJLQDGHOPHQëSULQಢ
FLSDOFRQ
8QDYH]TXHVHKDVHOHFFLRQDGROD
SÒJLQDGHOPHQëSULQFLSDOSXOVH4R
3SDUDVHOHFFLRQDUVXESÒJLQDV
3XOVHTSDUDDEULUODFDUSHWDVLJXLHQWH
GHODVXESÒJLQDVHOHFFLRQDGD
3XOVH4R3SDUDVHOHFFLRQDUODV
IXQFLRQHVRDMXVWDUXQYDORUQXPÚULFR
VLIXHUDQHFHVDULR
3XOVHHOERWäQSDUDVHOHFFLRQDU\
FRQILUPDUXQDIXQFLäQ
6LHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRUVROLFLWDDOFRQGXFWRUTXHFRQಢ
ILUPHXQDIXQFLäQRXQPHQVDMHSXOಢ
VDQGR+6HOHFFLRQDUFRQILUPH
SXOVDQGR
8QDYH]TXHVHKDVHOHFFLRQDGROD
SÒJLQDGHOPHQëSULQFLSDOHVWDVHಢ
OHFFLäQSHUPDQHFHJXDUGDGDKDVWD
TXHVHVHOHFFLRQDRWUDSÒJLQDGHO
PHQëSULQFLSDO(VWRVLJQLILFDTXH
XQDYH]VHOHFFLRQDGDODSÒJLQDGH
0HQë,QIRUPDFLäQVHSXHGHQFDPಢ
ELDUODVVXESÒJLQDVVLPSOHPHQWHSXOಢ
VDQGR3R4
/RVPHQVDMHVGHOYHKÞFXOR\VHUYLFLR
VRQHPHUJHQWHVHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRUFXDQGRHVQHಢ
FHVDULR&RQILUPHPHQVDMHVSXOಢ
VDQGR0HQVDMHVGHOYHKÞFXOR
0HQë,QIRUPDFLäQ
$FRQWLQXDFLäQVHSUHVHQWDODOLVWDGH
WRGDVODVSÒJLQDVSRVLEOHVGHO0HQë
,QIRUPDFLäQ(VSRVLEOHTXHDOJXQDV
QRHVWÚQKDELOLWDGDVHQVXYHKÞFXOR
'HSHQGLHQGRGHODSDQWDOODDOJXQDV
IXQFLRQHVVHSUHVHQWDQFRQVÞPEROR
*LUHODUXHGDGHDMXVWHRSXOVH4R
3SDUDVHOHFFLRQDUXQDSÒJLQD
ထ FXHQWDNLOäPHWURVSDUFLDO$
FRQVXPRPHGLRGHFRPEXVWLEOH
YHORFLGDGPHGLD
ထ FXHQWDNLOäPHWURVSDUFLDO%
FRQVXPRPHGLRGHFRPEXVWLEOH
YHORFLGDGPHGLD
ထ YHORFLGDGGLJLWDO
ထ DOFDQFHGHOFRPEXVWLEOH
ထ DOFDQFHGHOFRPEXVWLEOH/3*
ထ
,QVWUXPHQWRV\PDQGRV
FRQVXPRLQVWDQWÒQHRGHFRPಢ
EXVWLEOH
ထ YLGDëWLOUHVWDQWHGHODFHLWH
ထ SUHVLäQGHORVQHXPÒWLFRV
ထ QLYHOGHFRPEXVWLEOH
1LYHOGH/3*
ထ FURQäPHWUR
ထ DVLVWHQWHGHVHâDOHVGHWUÒILFR
ထ GLVWDQFLDGHVHJXULGDG
ထ WHQVLäQGHODSLOD
ထ &RQVXPLGRUHVPÒ[LPRV
ထ 7HQGHQFLDHFRQRPÞD
ထ ¾QGLFH(FR
ထ SÒJLQDHQEODQFR
(QODVSDQWDOODVGHQLYHOEÒVLFRODV
SÒJLQDV9LGDëWLOUHVWDQWHGHODFHLWH
3UHVLäQGHORVQHXPÒWLFRV$VLVಢ
WHQWHGHVHâDOHVGHWUÒILFRH,QGLFDಢ
FLäQGHGLVWDQFLDGHVHJXULGDGVHYLಢ
VXDOL]DQHQHO0
0HQë&RQILJXUDFLäQ
;6HOHFFLRQHSXOVDQGR0
0(18
(QODSDQWDOODGHQLYHOEÒVLFRODVSÒಢ
JLQDV&RQVXPLGRUHVPÒ[LPRV
7HQGHQFLDHFRQRPÞDH¾QGLFH(FR
VHYLVXDOL]DQHQHO0
0HQë(FRV
6HOHFFLRQHSXOVDQGR0
0(18
&XHQWDNLOäPHWURVSDUFLDO$\%
(OFXHQWDNLOäPHWURVSDUFLDOPXHVWUD
ODGLVWDQFLDDFWXDOGHVGHXQUHVWDEOHಢ
FLPLHQWRGHWHUPLQDGR
(OFXHQWDNLOäPHWURVSDUFLDOFRQWDELಢ
OL]DKDVWDNPGHGLVWDQFLD\
OXHJRVHSRQHD
3DUDUHVWDXUDUHQODSDQWDOODGHQLYHO
EÒVLFRSXOVH6
6(7&/5GXUDQWHXQRV
VHJXQGRVHQODSDQWDOODGHQLYHOLQಢ
WHUPHGLR\QLYHOVXSHULRUSXOVH!\
FRQILUPHFRQ
/DLQIRUPDFLäQGHODSÒJLQDGHOFXHQಢ
WDNLOäPHWURVSDUFLDO$X%VH
SXHGHUHVWDXUDUGHPDQHUDLQGHSHQಢ
GLHQWHSDUDHOFXHQWDNLOäPHWURVFRQಢ
VXPRPHGLR\YHORFLGDGPHGLDPLHQಢ
WUDVODSDQWDOODFRUUHVSRQGLHQWHHVWÒ
DFWLYD
&RQVXPRPHGLRGHFRPEXVWLEOH
,QGLFDFLäQGHOFRQVXPRPHGLR/D
PHGLFLäQSXHGHUHLQLFLDUVHHQFXDOಢ
TXLHUPRPHQWR\VHLQLFLDFRQXQYDಢ
ORUSUHGHWHUPLQDGR
3DUDUHVWDXUDUHQODSDQWDOODGHQLYHO
EÒVLFRSXOVH6
6(7&/5GXUDQWHXQRV
VHJXQGRVHQODSDQWDOODGHQLYHOLQಢ
WHUPHGLR\QLYHOVXSHULRUSXOVH!\
FRQILUPHFRQ
(QYHKÞFXORVFRQPRWRUHV/3*HO
FRQVXPRPHGLRVHLQGLFDVHJëQHO
PRGRVHOHFFLRQDGR/3*RJDVROLQD
9HORFLGDGPHGLD
,QGLFDFLäQGHODYHORFLGDGPHGLD/D
PHGLFLäQSXHGHUHLQLFLDUVHHQFXDOಢ
TXLHUPRPHQWR
3DUDUHVWDXUDUHQODSDQWDOODGHQLYHO
EÒVLFRSXOVH6
6(7&/5GXUDQWHXQRV
VHJXQGRVHQODSDQWDOODGHQLYHOLQಢ
WHUPHGLR\QLYHOVXSHULRUSXOVH!\
FRQILUPHFRQ
9HORFLGDGGLJLWDO
,QGLFDFLäQGLJLWDOGHODYHORFLGDGLQVಢ
WDQWÒQHD
$OFDQFHGHOFRPEXVWLEOH
(ODOFDQFHVHFDOFXODDSDUWLUGHOQLYHO
DFWXDOGHOGHSäVLWR\GHOFRQVXPR
LQVWDQWÒQHR/DSDQWDOODPXHVWUDYDಢ
ORUHVSURPHGLR
,QVWUXPHQWRV\PDQGRV
'HVSXÚVGHUHSRVWDUHODOFDQFHVH
DFWXDOL]DDXWRPÒWLFDPHQWHDOSRFR
WLHPSR
&XDQGRHOQLYHOGHFRPEXVWLEOHHQHO
GHSäVLWRHVEDMRDSDUHFHXQPHQಢ
VDMHHQODSDQWDOOD\HOWHVWLJRGHFRQಢ
WUROLR8HQHOLQGLFDGRUGHFRPಢ
EXVWLEOHVHLOXPLQD
&XDQGRVHGHEHOOHQDUHOGHSäVLWRGH
PDQHUDLQPHGLDWDDSDUHFHXQPHQಢ
VDMHGHDOHUWD\VHTXHGDHQFHQGLGR
HQODSDQWDOOD$GHPÒVVHHQFLHQGH
HOWHVWLJRGHFRQWUROLR8HQHOLQಢ
GLFDGRUGHFRPEXVWLEOH\SDUSDGHD
$OFDQFHGHOFRPEXVWLEOHYHUVLäQ
/3*
3UHVHQWDFLäQGHODOFDQFHDSUR[Lಢ
PDGRGHFRPEXVWLEOHGLVSRQLEOHFRQ
HOFRPEXVWLEOHUHVWDQWHHQFDGDGHಢ
SäVLWRGHJDVROLQD\FRPEXVWLEOH/3*
FRUUHVSRQGLHQWHMXQWRFRQXQDOಢ
FDQFHWRWDOGHDPERVWLSRVMXQWRV
&DPELHHQWUHORVPRGRVSXOVDQGR
6(7&/5R
1LYHOGHFRPEXVWLEOHGHJDVROLQD
/3*
0XHVWUDHOQLYHOGHFRPEXVWLEOHSDUD
HOWLSRGHFRPEXVWLEOHTXHQRVHXWLಢ
OL]DDFWXDOPHQWHSRUHMHPSORHQHO
PRGRJDVROLQDVHPXHVWUDHOQLYHOGH
FRPEXVWLEOHSDUD/3*8QDDJXMDGHO
FXDGURGHLQVWUXPHQWRVGHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRUHVSHFÞILFD
PXHVWUDHOQLYHOGHFRPEXVWLEOHSDUD
HOTXHVHHVWÒXWLOL]DQGRDKRUD
&RQVXPRLQVWDQWÒQHRGH
FRPEXVWLEOH
,QGLFDFLäQGHOFRQVXPRLQVWDQWÒQHR
(QYHKÞFXORVFRQPRWRUHV/3*HO
FRQVXPRLQVWDQWÒQHRVHLQGLFDVHJëQ
HOPRGRVHOHFFLRQDGR/3*RJDVRಢ
OLQD
9LGDëWLOUHVWDQWHGHODFHLWH
,QGLFDXQDHVWLPDFLäQGHODYLGDëWLO
GHODFHLWH(OQëPHURHQSRUFHQWDMHV
VLJQLILFDORTXHTXHGDGHYLGDëWLOGH
DFHLWHHQHOPRPHQWR
3UHVLäQGHORVQHXPÒWLFRV
&RPSUXHEDODSUHVLäQGHORVQHXPÒಢ
WLFRVGHWRGDVODVUXHGDVGXUDQWHOD
PDUFKD
&URQäPHWUR
3DUDDUUDQFDU\SDUDUSXOVH3DUD
UHVWDXUDUSXOVH!\FRQILUPHFRQ
5HVWDXUDU
$VLVWHQWHGHVHâDOHVGHWUÒILFR
0XHVWUDODVVHâDOHVGHWUÒILFRGHWHFಢ
WDGDVSDUDODVHFFLäQDFWXDOGHODUXWD
'LVWDQFLDGHVHJXULGDG
0XHVWUDODGLVWDQFLDHQVHJXQGRVFRQ
UHVSHFWRDOYHKÞFXORTXHYDGHODQWH
6LVHDFWLYDHOFRQWUROFUXFHUR
DGDSWDWLYRHVWDSÒJLQDPXHVWUDHO
DMXVWHGHODGLVWDQFLDGHVHJXULGDGD
FDPELR
7HQVLäQGHODSLOD
,QGLFDODWHQVLäQGHODEDWHUÞDGHOYHಢ
KÞFXOR
&RQVXPLGRUHVPÒ[LPRV
$SDUHFHXQDOLVWDGHORVGLVSRVLWLYRV
GHFRQIRUWFRQHFWDGRVDFWXDOPHQWH
TXHPÒVFRQVXPHQHQRUGHQGHVFHQಢ
GHQWH6HLQGLFDHOSRWHQFLDOGHDKRಢ
UURGHFRPEXVWLEOH
,QVWUXPHQWRV\PDQGRV
(QFRQGLFLRQHVGHFRQGXFFLäQHVSRಢ
UÒGLFDHOPRWRUDFWLYDUÒDXWRPÒWLFDಢ
PHQWHODOXQHWDWÚUPLFDWUDVHUDSDUD
DXPHQWDUODFDUJDGHOPRWRU(QWDO
FDVRODOXQHWDWÚUPLFDWUDVHUDVHLQಢ
GLFDFRPRXQDGHODVFRQVXPLGRUDV
SULQFLSDOHVVLQDFWLYDFLäQSRUSDUWH
GHOFRQGXFWRU
7HQGHQFLDHFRQRPÞD
0XHVWUDODHYROXFLäQGHOFRQVXPR
PHGLRDORODUJRGHXQDGLVWDQFLDGH
NP/RVVHJPHQWRVOOHQRVLQGLFDQ
HOFRQVXPRHQSDVRVGHNP\PXHVಢ
WUDQHOHIHFWRGHODWRSRJUDIÞDRGHO
HVWLORGHFRQGXFFLäQHQHOFRQVXPR
GHFRPEXVWLEOH
¾QGLFHGHHFRQRPÞD
(OFRQVXPRDFWXDOGHFRPEXVWLEOHVH
LQGLFDHQIRUPDGHVHJPHQWRV3DUD
XQDFRQGXFFLäQHFRQäPLFDDGDSWH
HOHVWLORGHFRQGXFFLäQSDUDPDQWHಢ
QHUORVVHJPHQWRVOOHQRVGHQWURGHOD
]RQD(FR&XDQWRVPÒVVHJPHQWRV
HVWÚQOOHQRVPD\RUVHUÒHOFRQVXPR
GHFRPEXVWLEOH6LPXOWÒQHDPHQWH
VHLQGLFDHOYDORUGHOFRQVXPR
,QGLFDFLäQGHFDPELR(QODSDQWDOOD
GHQLYHOEÒVLFRODPDUFKDDFWXDOVH
LQGLFDFRQXQDIOHFKD/DFLIUDVXSHಢ
ULRUUHFRPLHQGDFDPELDUDXQDPDUಢ
FKDPÒVODUJDSDUDDKRUUDUFRPEXVಢ
WLEOH
3ÒJLQDHQEODQFR
0XHVWUDXQDSÒJLQDHQEODQFRVLQ
QLQJXQDLQIRUPDFLäQ
0HQëSUHVWDFLRQHV
(O0HQë5HQGLPLHQWRVRODPHQWHHV
YLVLEOHHQODSDQWDOODGHQLYHOVXSHULRU
$FRQWLQXDFLäQVHSUHVHQWDODOLVWDGH
WRGDVODVSÒJLQDVSRVLEOHVGHO0HQë
3UHVWDFLRQHV(VSRVLEOHTXHDOJXQDV
QRHVWÚQKDELOLWDGDVHQVXYHKÞFXOR
3XOVH4R3SDUDVHOHFFLRQDUXQD
SÒJLQD
ထ WHPSHUDWXUDGHODFHLWH
ထ SUHVLäQGHDFHLWH
ထ WHQVLäQGHODSLOD
ထ LQGLFDGRUGHIXHU]D*
ထ FURQäPHWURGHYXHOWDV
(QIXQFLäQGHODFRQILJXUDFLäQGHOD
SDQWDOODGHQLYHOVXSHULRUORVLQGLFDಢ
GRUHVGH7HPSHUDWXUDGHODFHLWH
3UHVLäQGHODFHLWHR7HQVLäQGHOD
SLODVHPXHVWUDQWDPELÚQDODL]ಢ
TXLHUGD\GHUHFKDGHOYHORFÞPHWUR
7HPSHUDWXUDGHODFHLWH
,QGLFDODWHPSHUDWXUDGHODFHLWHHQ
JUDGRV&HOVLXV
3UHVLäQGHDFHLWH
,QGLFDODSUHVLäQGHDFHLWHHQN3D
7HQVLäQGHODSLOD
,QGLFDODWHQVLäQGHODEDWHUÞDGHOYHಢ
KÞFXOR
,QVWUXPHQWRV\PDQGRV
,QGLFDGRUGHIXHU]D*
,QGLFDODIXHU]DGHUHQGLPLHQWRGHO
YHKÞFXOR6HYLVXDOL]DUÒODFDQWLGDG
GHIXHU]DSRVLWLYDQHJDWLYDORQJLWXGLಢ
QDO\ODIXHU]DODWHUDO/DXQLGDGGH
YDORUGHODIXHU]D*VHFDOFXODUÒ\VH
YLVXDOL]DUÒFRPRXQYDORUQXPÚULFR
&URQäPHWURGHYXHOWDV
/DIXQFLäQGHOFURQäPHWURGHYXHOWDV
PLGHHOWLHPSRTXHKDWUDQVFXUULGR
GHVGHODëOWLPDYH]TXHHOXVXDULRLQLಢ
FLäRSDUäHOFURQäPHWURGHYXHOWDV
VHJëQORVFLFORVGHHQFHQGLGR/RV
YDORUHVGHOFURQäPHWURVHYLVXDOL]DQ
GHVGHKRUDVDGÚFLPDVGHVHJXQGR
,QLFLH\SDUHHOFURQäPHWURSXOVDQGR
/RVWLHPSRVGHYXHOWDVDFWXDOHV\DQಢ
WHULRUHVVHYLVXDOL]DQFRQODH[DFWLWXG
GHGÚFLPDVGHVHJXQGR/DJDQDQFLD
RSÚUGLGDGHWLHPSRVHLQGLFDHQIRUಢ
PDWRVVV
0HQë$XGLR
(O0HQë$XGLRSHUPLWHH[SORUDUOD
PëVLFDVHOHFFLRQDUGHVGHIDYRULWRVR
FDPELDUODIXHQWHGHDXGLR
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
0HQë7HOÚIRQR
(O0HQë7HOÚIRQRSHUPLWHJHVWLRQDU\
UHDOL]DUOODPDGDVWHOHIäQLFDVGHVSODಢ
]DUVHSRUORVFRQWDFWRVRKDEODUSRU
WHOÚIRQRFRQPDQRVOLEUHV
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
0HQë1DYHJDFLäQ
(O0HQë1DYHJDFLäQSHUPLWHJXLDUOD
UXWD
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
0HQëGHFRQILJXUDFLäQ
$FRQWLQXDFLäQVHSUHVHQWDODOLVWDGH
WRGDVODVSÒJLQDVSRVLEOHVGHO0HQë
&RQILJXUDFLäQ(VSRVLEOHTXHDOJXಢ
QDVQRHVWÚQKDELOLWDGDVHQVXYHಢ
KÞFXOR'HSHQGLHQGRGHODSDQWDOOD
DOJXQDVIXQFLRQHVVHSUHVHQWDQFRQ
VÞPEROR
*LUHODUXHGDGHDMXVWHRSXOVH4R
3SDUDVHOHFFLRQDUXQDSÒJLQD\VLJD
ODVLQVWUXFFLRQHVGDGDVHQORVVXEಢ
PHQëV
ထ XQLGDGHV
ထ WHPDVGHSDQWDOOD
ထ SÒJLQDVGHLQIRUPDFLäQ
ထ DYLVRGHYHORFLGDG
ထ FDUJDGHQHXPÒWLFR
ထ LQIRUPDFLäQVREUHHOSURJUDPD
8QLGDGHV
3XOVH!PLHQWUDVVHPXHVWUDODSÒಢ
JLQDGHXQLGDGHV6HOHFFLRQHODVXQLಢ
GDGHVPÚWULFDVRLPSHULDOHVSXOಢ
VDQGR
7HPDVGHSDQWDOOD
3XOVH!PLHQWUDVVHYLVXDOL]DQORVWHಢ
PDVGHSDQWDOOD6HOHFFLRQHHOPRGR
6SRUWR7RXULQJSXOVDQGR(OPRGR
6SRUWLQFOX\HPÒVLQIRUPDFLäQGHOYHಢ
KÞFXORHOPRGR7RXULQFOX\HPÒVLQಢ
IRUPDFLäQGHORVPHGLRV
(VWHDMXVWHVRODPHQWHHVWÒGLVSRQLಢ
EOHHQODSDQWDOODGHQLYHOVXSHULRU
,QVWUXPHQWRV\PDQGRV
3ÒJLQDVGHLQIRUPDFLäQ
3XOVH!PLHQWUDVVHYLVXDOL]DQODV
SÒJLQDVGHLQIRUPDFLäQ6HYLVXDOL]D
XQDOLVWDGHWRGRVORVHOHPHQWRVHQHO
0HQë,QIRUPDFLäQ6HOHFFLRQHODV
IXQFLRQHVDYLVXDOL]DUHQODSÒJLQDGH
,QIRUPDFLäQSXOVDQGR/DVSÒJLಢ
QDVVHOHFFLRQDGDVGLVSRQHQGHHQ
XQDFDVLOODGHVHOHFFLäQ/DVIXQFLRಢ
QHVQRYLVLEOHVGLVSRQHQGHXQDFDಢ
VLOODGHVHOHFFLäQHQEODQFR&RQVXOWH
0HQë,QIRUPDFLäQPHQFLRQDGRDQWHಢ
ULRUPHQWH
$YLVRGHYHORFLGDG
/DSDQWDOODGHDYLVRGHYHORFLGDGOH
SHUPLWHDMXVWDUXQDYHORFLGDGTXHQR
TXLHUHVXSHUDU
3DUDDMXVWDUXQDYLVRGHYHORFLGDG
SXOVH!PLHQWUDVVHYLVXDOL]DODSÒಢ
JLQD3XOVH4R3SDUDDMXVWDUHO
YDORU3XOVHSDUDDMXVWDUODYHORFLಢ
GDG8QDYH]DMXVWDGDODYHORFLGDG
HVWDIXQFLäQVHSXHGHGHVDFWLYDUSXOಢ
VDQGRPLHQWUDVVHYLVXDOL]DHVWD
SÒJLQD6LVHVXSHUDHOOÞPLWHGHOD
YHORFLGDGVHOHFFLRQDGDVHYLVXDOL]D
XQDYLVRHPHUJHQWHFRQVRQLGR
&DUJDGHQHXPÒWLFR
6HSXHGHVHOHFFLRQDUODFDWHJRUÞDGH
SUHVLäQGHORVQHXPÒWLFRVVHJëQOD
SUHVLäQUHDOGHORVQHXPÒWLFRVLQIODಢ
GRV
,QIRUPDFLäQVREUHHOSURJUDPD
0XHVWUDODIXHQWHDELHUWDGHLQIRUPDಢ
FLäQGHOSURJUDPD
0RGRDVLVWHQWH
$OJXQDVIXQFLRQHVGHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRU\ODSDQWDOOD
GHLQIRUPDFLäQHQFRORUVHSXHGHQOLಢ
PLWDUSDUDDOJXQRVFRQGXFWRUHV
/DDFWLYDFLäQRGHVDFWLYDFLäQGHO
PRGRDVLVWHQWHVHSXHGHDMXVWDUHQ
HOPHQë$
$MXVWHVHQHOPHQëGHSHUಢ
VRQDOL]DFLäQGHOYHKÞFXOR
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
3DQWDOODGHLQIRUPDFLäQHQ
FRORU
/DSDQWDOODGHLQIRUPDFLäQHQFRORUVH
VLWëDHQHOSDQHOGHLQVWUXPHQWRV
FHUFDGHOFXDGURGHLQVWUXPHQWRV
'HSHQGLHQGRGHODFRQILJXUDFLäQGHO
YHKÞFXORSXHGHWHQHUXQD
ထ 3DQWDOODHQFRORUGH
R
ထ 3DQWDOODHQFRORUGHFRQIXQಢ
FLäQGHSDQWDOODWÒFWLO
/DSDQWDOODGHLQIRUPDFLäQLQGLFD
ထ KRUD
ထ WHPSHUDWXUDH[WHULRU
ထ IHFKD
ထ VLVWHPDGHLQIRHQWUHWHQLPLHQWR
YÚDVHODGHVFULSFLäQHQHOPDಢ
QXDOGHOVLVWHPDGHLQIRHQWUHWHಢ
QLPLHQWR
ထ QDYHJDFLäQYÚDVHODGHVFULSFLäQ
HQHOPDQXDOGHOVLVWHPDGHLQಢ
IRHQWUHWHQLPLHQWR
ထ PHQVDMHVGHOVLVWHPD
,QVWUXPHQWRV\PDQGRV
ထ
ထ
PHQVDMHVGHOYHKÞFXOR
DMXVWHVGHSHUVRQDOL]DFLäQGHO
YHKÞFXOR
3DQWDOODHQFRORUGH
6HOHFFLäQGHPHQëV\DMXVWHV
6HDFFHGHDORVPHQëV\ORVDMXVWHV
PHGLDQWHODSDQWDOOD
3XOVH%
%$&.SDUDVDOLUGHXQPHQëVLQ
FDPELDUXQDMXVWH
3XOVHSDUDYROYHUDODSÒJLQDGH
LQLFLR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
3HUVRQDOL]DFLäQGHOYHKÞFXOR
)XQFLRQDPLHQWRGHOERWäQ
3DQWDOODHQFRORUGH
6HOHFFLäQGHPHQëV\DMXVWHV
([LVWHQWUHVRSFLRQHVSDUDSRQHUHQ
IXQFLRQDPLHQWRHOVLVWHPD
ထ PHGLDQWHORVERWRQHVGHGHEDMR
GHODSDQWDOOD
ထ GLUHFWDPHQWHPHGLDQWHHOXVRGH
ODSDQWDOODWÒFWLOFRQHOGHGR
ထ PHGLDQWHUHFRQRFLPLHQWRGHYR]
3XOVH;SDUDFRQHFWDUODSDQWDOOD
3XOVHSDUDYLVXDOL]DUODSÒJLQDGH
LQLFLR
*LUH0
0(18SDUDVHOHFFLRQDUHOLFRQR
GHODSDQWDOODGHOPHQë
3XOVH0
0(18SDUDFRQILUPDUXQDVHಢ
OHFFLäQ
3XOVH;SDUDFRQHFWDUODSDQWDOOD
3XOVHSDUDYLVXDOL]DUODSÒJLQDGH
LQLFLR
*LUH0
0(18SDUDVHOHFFLRQDUHOLFRQR
GHSDQWDOODGHOPHQëRXQDIXQFLäQ
3XOVH0
0(18SDUDFRQILUPDUXQDVHಢ
OHFFLäQ
*LUH0
0(18SDUDGHVSOD]DUVHSRUOD
OLVWDGHOVXEPHQë
3XOVH0
0(18SDUDFRQILUPDUXQDVHಢ
OHFFLäQ
3XOVH%
%$&.SDUDVDOLUGHXQPHQëVLQ
FDPELDUXQDMXVWH
,QVWUXPHQWRV\PDQGRV
3XOVHSDUDYROYHUDODSÒJLQDGH
LQLFLR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
)XQFLRQDPLHQWRGHODSDQWDOODWÒFWLO
/DSDQWDOODVHGHEHFRQHFWDUSXOಢ
VDQGR;\ODSÒJLQDGHLQLFLRVHGHEH
VHOHFFLRQDUSXOVDQGR
7RTXHFRQHOGHGRHOLFRQRGHSDQWDಢ
OODGHOPHQëRXQDIXQFLäQ
'HVSOÒFHVHSRUODOLVWDPÒVODUJDGHO
VXEPHQëFRQHOGHGRKDFLDDUULEDR
KDFLDDEDMR
&RQILUPHXQDIXQFLäQUHTXHULGDRVHಢ
OHFFLäQGDQGRXQWRTXH
7RTXHTHQODSDQWDOODSDUDVDOLUGH
XQPHQëVLQFDPELDUXQDMXVWH
3XOVHSDUDYROYHUDODSÒJLQDGH
LQLFLR
3DUDREWHQHUPÒVLQIRUPDFLäQYHDHO
PDQXDOGHLQIRHQWUHWHQLPLHQWR
5HFRQRFLPLHQWRGHYR]
3DUDYHUODGHVFULSFLäQYÚDVHHOPDಢ
QXDOGHLQIRHQWUHWHQLPLHQWR
3HUVRQDOL]DFLäQGHOYHKÞFXOR
0RGRDVLVWHQWH
$OJXQDVIXQFLRQHVGHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRU\ODSDQWDOOD
GHLQIRUPDFLäQHQFRORUVHSXHGHQOLಢ
PLWDUSDUDDOJXQRVFRQGXFWRUHV
/DDFWLYDFLäQRGHVDFWLYDFLäQGHO
PRGRDVLVWHQWHVHSXHGHDMXVWDUHQ
HOPHQë$
$-867(6HQHOPHQëGH
SHUVRQDOL]DFLäQGHOYHKÞFXOR
3HUVRQDOL]DFLäQGHOYHKÞFXOR
3DUDPÒVLQIRUPDFLäQYHDHOPDQXDO
GHLQIRHQWUHWHQLPLHQWR
0HQVDMHVGHOYHKÞFXOR
/RVPHQVDMHVDSDUHFHQHQHOFHQWUR
GHLQIRUPDFLäQGHOFRQGXFWRUHQDOಢ
JXQRVFDVRVMXQWRFRQXQDDGYHUWHQಢ
FLD\XQDYLVRDFëVWLFR
&RQWURODGRUGHWHOÚIRQR
LQWHOLJHQWH
(OFRQWURODGRUGHWHOÚIRQRLQWHOLJHQWH
VPDUWSKRQHSHUPLWHDXQWHOÚIRQR
GHHVWHWLSRDFFHGHUDORVGDWRVGHO
YHKÞFXORDWUDYÚVGHXQDFRQH[LäQ
%OXHWRRWKR:/$1$FRQWLQXDFLäQ
VHSXHGHQYHU\DQDOL]DUHVWRVGDWRV
HQHOWHOÚIRQRLQWHOLJHQWH
(QODSDQWDOODGHQLYHOEÒVLFRSXOVH
6(7&/50
0(18RJLUHODUXHGDGH
DMXVWHSDUDFRQILUPDUXQPHQVDMH
,QVWUXPHQWRV\PDQGRV
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
(QODSDQWDOODGHQLYHOLQWHUPHGLR\
QLYHOVXSHULRUSXOVHSDUDFRQILUPDU
HOPHQVDMH
0HQVDMHVGHOYHKÞFXOR\GH
VHUYLFLR
/RVPHQVDMHVGHOYHKÞFXORVHPXHVಢ
WUDQFRPRWH[WR6LJDODVLQVWUXFFLRಢ
QHVTXHDSDUHFHQHQORVPHQVDMHV
(OVLVWHPDPXHVWUDPHQVDMHVUHODFLRಢ
QDGRVFRQORVWHPDVVLJXLHQWHV
ထ PHQVDMHVGHVHUYLFLR
ထ QLYHOHVGHOÞTXLGRV
ထ VLVWHPDGHDODUPDDQWLUURER
ထ IUHQRV
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
VLVWHPDVGHWUDFFLäQ
VLVWHPDVGHFRQWUROGHODFRQGXFಢ
FLäQ
VLVWHPDVGHD\XGDDODFRQGXFಢ
FLäQ
UHJXODGRUGHYHORFLGDG
OLPLWDGRUGHYHORFLGDG
FRQWUROGHYHORFLGDGDGDSWDEOH
DOHUWDGHFROLVLäQIURQWDO
VLVWHPDGHIUHQDGRSRUFROLVLäQ
LQPLQHQWH
VLVWHPDVGHDVLVWHQFLDDODSDUಢ
FDPLHQWR
LOXPLQDFLäQVXVWLWXFLäQGHERPಢ
ELOODV
VLVWHPDGHIDURVDGDSWDWLYRV
VLVWHPDOLPSLD\ODYDSDUDEULVDV
SXHUWDVYHQWDQLOODV
DOHUWDGHSXQWRFLHJRODWHUDO
DVLVWHQWHGHVHâDOHVGHWUÒILFR
DYLVRGHFDPELRGHFDUULO
FRPSDUWLPHQWRGHFDUJDSXHUWD
GHOPDOHWHUR
PDQGRDGLVWDQFLD
VLVWHPDGHOODYHHOHFWUäQLFD
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
DUUDQTXHVLQOODYHV
FLQWXURQHVGHVHJXULGDG
VLVWHPDVGHDLUEDJV
PRWRU\FDMDGHFDPELRV
SUHVLäQGHORVQHXPÒWLFRV
ILOWURGHSDUWÞFXODVGLÚVHO
HVWDGRGHODEDWHUÞDGHOYHKÞFXOR
UHGXFFLäQFDWDOÞWLFDVHOHFWLYDOÞಢ
TXLGRGHHVFDSHGLÚVHO'()
$G%OXH
0HQVDMHVHQODSDQWDOODGH
LQIRUPDFLäQHQFRORU
$OJXQRVPHQVDMHVLPSRUWDQWHVSXHಢ
GHQDSDUHFHUDGLFLRQDOPHQWHHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
3XOVHHOERWäQPXOWLIXQFLäQSDUDFRQಢ
ILUPDUHOPHQVDMH$OJXQRVPHQVDMHV
VäORDSDUHFHQGXUDQWHXQRVVHJXQಢ
GRV
$YLVRVDFëVWLFRV
$ODUUDQFDUHOPRWRURGXUDQWHOD
PDUFKD
6äORVRQDUÒXQDYLVRFDGDYH]
,QVWUXPHQWRV\PDQGRV
(ODYLVRDFëVWLFRTXHLQGLFDTXHQRVH
KDQDEURFKDGRORVFLQWXURQHVGHVHಢ
JXULGDGWLHQHSULRULGDGVREUHHOUHVWR
ထ 6LQRVHKDDEURFKDGRHOFLQWXUäQ
GHVHJXULGDG
ထ 6LLQLFLDODPDUFKDFRQXQD
SXHUWDRHOSRUWäQWUDVHURVLQFHಢ
UUDUFRUUHFWDPHQWH
ထ 6LVHVREUHSDVDXQDGHWHUPLಢ
QDGDYHORFLGDGFRQHOIUHQRGH
HVWDFLRQDPLHQWRDFFLRQDGR
ထ 6LHOFRQWUROGHYHORFLGDGDGDSಢ
WDEOHVHGHVDFWLYDDXWRPÒWLFDಢ
PHQWH
ထ 6LVHDFHUFDGHPDVLDGRDXQYHಢ
KÞFXORSUHFHGHQWH
ထ 6LVHVREUHSDVDXQDYHORFLGDG
SURJUDPDGDRXQOÞPLWHGHYHORಢ
FLGDG
ထ 6LDSDUHFHXQPHQVDMHGHDGYHUಢ
WHQFLDHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRU
ထ 6LODOODYHHOHFWUäQLFDQRHVWÒHQ
HOKDELWÒFXOR
ထ 6LHODVLVWHQWHGHDSDUFDPLHQWR
GHWHFWDXQREMHWR
ထ
ထ
ထ
6LVHSURGXFHXQFDPELRGHFDUULO
QRLQWHQFLRQDGR
6LHOILOWURGHSDUWÞFXODVGLÚVHOKD
DOFDQ]DGRHOQLYHOGHOOHQDGRPÒಢ
[LPR
6LHVQHFHVDULRUHSRQHU$G%OXH
&XDQGRHOYHKÞFXORHVWÒ
HVWDFLRQDGR\RVHDEUHODSXHUWD
GHOFRQGXFWRU
ထ
ထ
&RQODVOXFHVH[WHULRUHVHQFHQಢ
GLGDV
6LHOHQJDQFKHGHUHPROTXHQR
HVWÒHQFODYDGR
'XUDQWHXQDSDUDGDDXWRPÒWLFD
$XWRVWRS
ထ
6LVHDEUHODSXHUWDGHOFRQGXFಢ
WRU
7HQVLäQGHODSLOD
6LODWHQVLäQGHODEDWHUÞDGHOYHKÞFXOR
HVEDMDDSDUHFHUÒXQPHQVDMHGHDGಢ
YHUWHQFLDHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
'HVFRQHFWHORVFRQVXPLGRUHV
HOÚFWULFRVTXHQRVHDQQHFHVDULRV
SDUDXQDFRQGXFFLäQVHJXUD
SRUHMHPSORODFDOHIDFFLäQGH
DVLHQWRODOXQHWDWÚUPLFDWUDVHUD
XRWURVFRQVXPLGRUHV
&DUJXHODEDWHUÞDGHOYHKÞFXORFLUಢ
FXODQGRVLQGHWHQHUVHGXUDQWHXQ
WLHPSRRXVDQGRXQFDUJDGRUGH
EDWHUÞDV
(OPHQVDMHGHDGYHUWHQFLDGHVDSDUHಢ
FHUÒGHVSXÚVGHDUUDQFDUHOPRWRU
GRVYHFHVVLQFDÞGDGHWHQVLäQ
6LODEDWHUÞDGHOYHKÞFXORQRVHSXHGH
UHFDUJDUKDJDVXEVDQDUODFDXVDGH
ODDYHUÞDHQXQWDOOHU
,QVWUXPHQWRV\PDQGRV
3HUVRQDOL]DFLäQGHO
YHKÞFXOR
(OFRPSRUWDPLHQWRGHOYHKÞFXORVH
SXHGHSHUVRQDOL]DUFDPELDQGRORV
DMXVWHVHQODSDQWDOODGHLQIRUPDFLäQ
HQFRORU
$OJXQRVGHORVDMXVWHVSHUVRQDOHVGH
GLVWLQWRVFRQGXFWRUHVVHSXHGHQPHಢ
PRUL]DULQGLYLGXDOPHQWHHQFDGDOODYH
GHOYHKÞFXOR$MXVWHVPHPRUL]DGRV
'HSHQGLHQGRGHOHTXLSDPLHQWRGHO
YHKÞFXOR\GHODVQRUPDVHVSHFÞILFDV
GHOSDÞVHVSRVLEOHTXHDOJXQDVGH
ODVIXQFLRQHVGHVFULWDVDFRQWLQXDಢ
FLäQQRHVWÚQGLVSRQLEOHV
$OJXQDVIXQFLRQHVVäORVHPXHVWUDQ
RDFWLYDQFRQHOPRWRUHQPDUFKD
&RQILJXUDFLäQSHUVRQDO
'HVSXÚVHOFDPELRGHODFRQILJXUDಢ
FLäQSHUVRQDOVHGHVFULEHPHGLDQWH
ORVVLJXLHQWHVERWRQHVHQODSDQWDOOD
(VWRHVYÒOLGRSDUDODSDQWDOODGHLQಢ
IRUPDFLäQHQFRORUGH\GH
$GHPÒVODSDQWDOODGHVHSXHGH
XWLOL]DUFRPRSDQWDOODWÒFWLO9ÚDVHOD
GHVFULSFLäQHQ3DQWDOODGHLQIRUPDಢ
FLäQHQFRORU\HOPDQXDOGH
LQIRHQWUHWHQLPLHQWR
&RQODSDQWDOODDFWLYDSXOVH
0(18SDUDVHOHFFLRQDUHOLFRQR
*LUH0
GHODSDQWDOOD$
$-867(6
3XOVH0
0(18SDUDFRQILUPDU
*LUDQGR\SXOVDQGRHOERWäQPXOWLIXQಢ
FLäQVHSXHGHQVHOHFFLRQDUORVVLಢ
JXLHQWHVDMXVWHV
ထ )HFKD\+RUD
ထ 0RGRGHSRUWLYR
ထ ,GLRPD/DQJXDJH
ထ 0RGREORTXHR
ထ 5DGLR
ထ 9HKÞFXOR
ထ %OXHWRRWK
ထ 9R]
ထ )RQGRGHSDQWDOOD
ထ &ÒPDUDWUDVHUD
ထ 5HVWDEOHFHUDMXVWHVGHIÒEULFD
ထ ,QIRUPDFLäQGHVRIWZDUH
/RVVLJXLHQWHVDMXVWHVSXHGHQFDPಢ
ELDUVHHQORVVXEPHQëVFRUUHVSRQಢ
GLHQWHV
)HFKD\+RUD
9ÚDVH5HORM
0RGRGHSRUWLYR
(OFRQGXFWRUSXHGHVHOHFFLRQDUODV
IXQFLRQHVTXHVHDFWLYDUÒQHQHO
PRGR6SRUW
ထ 5HWURLOXPLQDFLäQPRGR
GHSRUWLYR&DPELDHOFRORUGHLOXಢ
PLQDFLäQGHORVLQVWUXPHQWRV
ထ 0RGRGHSRUWLYRGHOPRWRU(OSHಢ
GDOGHODFHOHUDGRU\HOFDPELRGH
PDUFKDVSURSRUFLRQDQXQDPHMRU
UHVSXHVWD
ထ
ထ
ထ
,QVWUXPHQWRV\PDQGRV
'LUHFFLäQGHSRUWLYD6HUHGXFHOD
DVLVWHQFLDDODGLUHFFLäQ
6XVSHQVLäQGHSRUWLYD/DDPRUಢ
WLJXDFLäQVHHQGXUHFH
7UDFFLäQWRWDO(OSDUPRWRUVH
GLVWULEX\HHQPD\RUPHGLGDDO
HMHWUDVHUR
,GLRPD/DQJXDJH
6HOHFFLäQGHOLGLRPDGHVHDGR9ÚDVH
HOPDQXDOGHLQIRHQWUHWHQLPLHQWR
0RGREORTXHR
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
5DGLR
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
9HKÞFXOR
ထ &OLPDWL]DGRU\FDOLGDGGHDLUH
9HORFLGDGGHOYHQWLODGRUHQPRGR
DXWR0RGLILFDHOQLYHOGHOFDXGDO
GHDLUHGHODFOLPDWL]DFLäQGHOKDಢ
ELWÒFXORHQHOPRGRDXWRPÒWLFR
0RGRDLUHDFRQGLFLRQDGR&RQಢ
WURODHOHVWDGRGHOFRPSUHVRUGH
UHIULJHUDFLäQDODUUDQFDUHOYHಢ
ထ
KÞFXOR(OëOWLPRDMXVWHUHFRPHQಢ
GDGRRDODUUDQFDUHOYHKÞFXORHV
VLHPSUHHQFHQGLGRRVLHPSUH
DSDJDGR
7HPSHUDWXUD]RQDGHODQWHUD
&DPELDHQWUHDMXVWHGHODWHPಢ
SHUDWXUDSDUDXQD]RQDRSDUD
GREOH]RQD
'HVHPSDâDGRDXWRPÒWLFR)DFLಢ
OLWDHOGHVHPSDâDGRGHOSDUDEULಢ
VDVVHOHFFLRQDQGRDXWRPÒWLFDಢ
PHQWHORVDMXVWHVQHFHVDULRV\HO
PRGRDXWRPÒWLFRGHODLUHDFRQಢ
GLFLRQDGR
'HVHPSDâDUOXQHWDWUDVHUD$Fಢ
WLYDDXWRPÒWLFDPHQWHODOXQHWD
WÚUPLFDWUDVHUD
6LVWHPDVGHFROLVLäQGHWHFFLäQ
$VLVWHQWHDSDUFDPLHQWR$FWLYDR
GHVDFWLYDHODVLVWHQWHGHDSDUFDಢ
PLHQWRSRUXOWUDVRQLGRV
3UHSDUDFLäQSDUDFROLVLäQ$FWLYD
RGHVDFWLYDODIXQFLäQGHOIUHQR
DXWRPÒWLFRGHOYHKÞFXORHQFDVR
GHSHOLJURLQPLQHQWHGHFROLVLäQ
6HSXHGHVHOHFFLRQDUORVLಢ
JXLHQWHHOVLVWHPDWRPDUÒHO
FRQWUROGHOIUHQRDGYHUWLUÒPHಢ
ထ
GLDQWHSLWLGRVVRODPHQWHRVH
GHVDFWLYDFRPSOHWDPHQWH
1RWLILFDGRUYÞDOLEUH$FWLYDRGHVಢ
DFWLYDODIXQFLäQGHUHFRUGDWRULR
GHOFRQWUROFUXFHURDGDSWDWLYR
$YLVR]RQDÒQJXORPXHUWR$FWLYD
RGHVDFWLYDODDOHUWDGHOÒQJXOR
PXHUWR
$OHUWDGHWUÒILFRFUX]DGR$FWLYD
RGHVDFWLYDODDOHUWDGHWUÒILFRSRU
GHWUÒV
&RQIRUW\FRPRGLGDG
$MXVWHVDXWRPÒWLFRVHQ
PHPRULD&DPELDODFRQILJXUDಢ
FLäQGHUHFXSHUDFLäQGHORVDMXVಢ
WHVPHPRUL]DGRVGHODVLHQWR
HOÚFWULFR\ORVUHWURYLVRUHVH[WHಢ
ULRUHV
$VLHQWRFRQGXFWRUVDOLGDIÒFLO
$FWLYDRGHVDFWLYDODIXQFLäQGH
VDOLGDIÒFLOGHODVLHQWRHOÚFWULFR
9ROXPHQGHWRQRV&DPELDHOYRಢ
OXPHQGHORVDYLVRVDFëVWLFRV
,QFOLQDUHVSHMRHQPDUFKDDWUÒV
$FWLYDRGHVDFWLYDODIXQFLäQGHO
DVLVWHQWHGHDSDUFDPLHQWRGHOUHಢ
WURYLVRUH[WHULRUHQHOODGRGHO
DFRPSDâDQWH
,QVWUXPHQWRV\PDQGRV
ထ
3OHJDUHVSHMRVDXWRP$FWLYDR
GHVDFWLYDHOSOHJDGRGHORVUHWURಢ
YLVRUHVH[WHULRUHVFRQHOPDQGR
DGLVWDQFLD
&RQILJXUDFLäQFRQGXFWRU$FWLYD
RGHVDFWLYDODIXQFLäQGHSHUVRಢ
QDOL]DFLäQ
/LPSLDSDUDEULVDVVHQVRUHVGH
OOXYLD$FWLYDRGHVDFWLYDHOOLPಢ
SLDSDUDEULVDVDXWRPÒWLFRFRQHO
VHQVRUGHOOXYLD
/LPSLDSDUDXWRPÒWLFRPDUFKD
DWUÒV$FWLYDRGHVDFWLYDODFRQHಢ
[LäQDXWRPÒWLFDGHOOLPSLDOXQHWD
FXDQGRVHHQJUDQDODPDUFKD
DWUÒV
/XFHV
/XFHVORFDOL]DGRUDV$FWLYDR
GHVDFWLYDODLOXPLQDFLäQGHELHQಢ
YHQLGD
/X]GHVDOLGD$FWLYDRGHVDFWLYD
\FDPELDODGXUDFLäQGHODLOXPLಢ
QDFLäQGHVDOLGD
7UÒILFRDPDQRGHUHFKDRL]TX
&DPELDHQWUHODVOXFHVSDUDHO
WUÒILFRFRQYRODQWHDODL]TXLHUGD
RGHUHFKD
ထ
/X]GHODQWHUDDGDSWDWLYD&DPಢ
ELDODFRQILJXUDFLäQGHODVIXQಢ
FLRQHVGHOVLVWHPDGHIDURV
DGDSWDWLYRV
6HJXURVHOÚFWULFRVSXHUWDV
$QWLEORTXHRGHSXHUWD$FWLYDR
GHVDFWLYDODIXQFLäQGHEORTXHR
DXWRPÒWLFRGHODSXHUWDGHOFRQಢ
GXFWRUFXDQGRODSXHUWDHVWÒ
DELHUWD
&LHUUHDXWRPÒWLFRGHSXHUWDV
$FWLYDRGHVDFWLYDODIXQFLäQGH
EORTXHRDXWRPÒWLFRGHSXHUWDV
GHVSXÚVGHFRQHFWDUHOHQFHQಢ
GLGR
$SHUWXUDDXWRPGHSXHUWDV
&DPELDODFRQILJXUDFLäQSDUD
GHVEORTXHDUVäORODSXHUWDGHO
FRQGXFWRURWRGRHOYHKÞFXORGHVಢ
SXÚVGHDSDJDUHOHQFHQGLGR
&LHUUHUHWDUGDGRGHSXHUWDV$Fಢ
WLYDRGHVDFWLYDODIXQFLäQGHEORಢ
TXHRDXWRPÒWLFRGHSXHUWDVFRQ
UHWDUGR(VWDIXQFLäQUHWUDVDHO
EORTXHRHIHFWLYRGHODVSXHUWDV
ထ
KDVWDTXHVHKD\DQFHUUDGRWRಢ
GDV
&LHUUHDSHUWXUDDUUDQTXH
UHPRWRV
/X]GHDSHUWXUDUHPRWD$FWLYDR
GHVDFWLYDODFRQILUPDFLäQGHODV
OXFHVGHHPHUJHQFLDDOGHVEORಢ
TXHDU
6HâDOGHFLHUUHUHPRWR&DPELD
HOWLSRGHUHVSXHVWDGDGDDOFHಢ
UUDUHOYHKÞFXOR
$SHUWXUDUHPRWD&DPELDODFRQಢ
ILJXUDFLäQSDUDGHVEORTXHDUVäOR
ODSXHUWDGHOFRQGXFWRURWRGRHO
YHKÞFXORDOGHVEORTXHDU
&HUUDUSXHUWDVDELHUWDV
UHPRWDPHQWH$FWLYDRGHVDFWLYD
ODIXQFLäQGHYROYHUDEORTXHDU
DXWRPÒWLFDPHQWHGHVSXÚVGH
GHVEORTXHDUVLQDEULUHOYHKÞFXOR
&LHUUHSDVLYRSXHUWDV$FWLYDR
GHVDFWLYDODIXQFLäQGHEORTXHR
SDVLYR(VWDIXQFLäQEORTXHDHO
YHKÞFXORDXWRPÒWLFDPHQWHGHVಢ
SXÚVGHYDULRVVHJXQGRVVLVH
KDQFHUUDGRWRGDVODVSXHUWDV\
VHKDVDFDGRXQDOODYHHOHFWUäಢ
QLFDGHOYHKÞFXOR
,QVWUXPHQWRV\PDQGRV
&RQWUROUHPRWRROYLGDGRHQ
YHKÞFXOR$FWLYDRGHVDFWLYDHO
DYLVRDFëVWLFRFXDQGRODOODYH
HOHFWUäQLFDVHTXHGDHQHOYHಢ
KÞFXOR
%OXHWRRWK
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
9R]
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
)RQGRGHSDQWDOOD
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
&ÒPDUDWUDVHUD
*XÞDGHOÞQHDV$FWLYDRGHVDFWLYDODV
GLUHFWULFHV
6ÞPERORVDVLVWHQWHDSDUF$FWLYDR
GHVDFWLYDORVVÞPERORVGHODVLVWHQWH
GHHVWDFLRQDPLHQWRWUDVHUR
5HVWDEOHFHUDMXVWHVGHIÒEULFD
5HVWDXUDUDMXVWHVGHOYHKÞFXOR5HVಢ
WDEOHFHWRGRVORVDMXVWHVDORVYDORUHV
SUHGHWHUPLQDGRV
%RUUDUGDWRVSHUVRQDOHV%RUUDWRGD
ODLQIRUPDFLäQSULYDGDGHOYHKÞFXOR
5HVWDEOHFHUDMXVWHVGHUDGLR5HVWDಢ
EOHFHWRGRVORVDMXVWHVGHODUDGLRD
ORVYDORUHVSUHGHWHUPLQDGRV9ÚDVH
HOPDQXDOGHLQIRHQWUHWHQLPLHQWR
,QIRUPDFLäQGHVRIWZDUH
9ÚDVHHOPDQXDOGHLQIRHQWUHWHQLಢ
PLHQWR
2Q6WDU
2Q6WDUHVXQDVLVWHQWHSHUVRQDOGH
FRQHFWLYLGDG\VHUYLFLRFRQ]RQD
:L)LLQWHJUDGD(OVHUYLFLR2Q6WDU
HVWÒGLVSRQLEOHKRUDVDOGÞDVLHWH
GÞDVDODVHPDQD
1RWD
2Q6WDUQRHVWÒGLVSRQLEOHSDUDWRಢ
GRVORVPHUFDGRV3DUDPÒVLQIRUಢ
PDFLäQSäQJDVHHQFRQWDFWRFRQVX
WDOOHU
1RWD
3DUDHVWDUGLVSRQLEOH\RSHUDWLYR
2Q6WDUQHFHVLWDXQDVXVFULSFLäQYÒಢ
OLGDD2Q6WDUHOVLVWHPDHOÚFWULFR
GHOYHKÞFXORRSHUDWLYRVHUYLFLRPäಢ
YLO\FRQH[LäQVDWÚOLWH*36
3DUDDFWLYDUORVVHUYLFLRV2Q6WDU\
FRQILJXUDUXQDFXHQWDSXOVH=\KDಢ
EOHFRQXQDVHVRU
,QVWUXPHQWRV\PDQGRV
(QIXQFLäQGHOHTXLSDPLHQWRGHOYHಢ
KÞFXORHVWÒQGLVSRQLEOHVORVVLJXLHQಢ
WHVVHUYLFLRV
ထ 6HUYLFLRVGHHPHUJHQFLD\DVLVಢ
WHQFLDHQFDVRGHDYHUÞDGHOYHಢ
KÞFXOR
ထ =RQD:L)L
ထ $SOLFDFLäQSDUDVPDUWSKRQH
ထ &RQWUROUHPRWRSRUHMHPSORXELಢ
FDFLäQGHOYHKÞFXORDFWLYDFLäQ
GHERFLQD\OXFHVFRQWUROGHOFLHಢ
UUHFHQWUDOL]DGR
ထ $VLVWHQFLDHQFDVRGHURERGHO
YHKÞFXOR
ထ 'LDJQäVWLFRGHOYHKÞFXOR
ထ 'HVFDUJDGHLWLQHUDULR
1RWD
(OPäGXOR2Q6WDUGHOYHKÞFXORHVWÒ
GHVDFWLYDGRGHVSXÚVGHWUDQVFXUULಢ
GRVGLH]GÞDVVLQFLFORGHHQFHQGLGR
/DVIXQFLRQHVTXHUHTXLHUHQXQDFRಢ
QH[LäQGHGDWRVHVWDUÒQGHQXHYR
GLVSRQLEOHVGHVSXÚVGHFRQHFWDUHO
HQFHQGLGR
%RWRQHV2Q6WDU
%RWäQGHVHUYLFLR
3XOVH=SDUDHVWDEOHFHUXQDFRQHಢ
[LäQFRQXQDVHVRU
%RWäQ626
3XOVH>SDUDHVWDEOHFHUXQDFRQHಢ
[LäQGHHPHUJHQFLDGHSULRULGDGFRQ
XQDVHVRUGHHPHUJHQFLDHVSHFLDOLಢ
]DGR
1RWD
(QIXQFLäQGHOHTXLSRORVERWRQHV
2Q6WDUVHSXHGHQLQWHJUDUWDPELÚQ
HQHOUHWURYLVRU
%RWäQGHSULYDFLGDG
0DQWHQJDSXOVDGRMKDVWDRÞUXQ
PHQVDMHSDUDDFWLYDURGHVDFWLYDUOD
WUDQVPLVLäQGHODORFDOL]DFLäQGHOYHಢ
KÞFXOR
3XOVHMSDUDUHVSRQGHUXQDOODPDGD
RILQDOL]DUXQDOODPDGDDXQDVHVRU
3XOVHMSDUDDFFHGHUDODFRQILJXUDಢ
FLäQ:L)L
/('GHHVWDGR
9HUGH(OVLVWHPDHVWÒSUHSDUDGR
9HUGHLQWHUPLWHQWH/ODPDGDHQFXUVR
HQHOVLVWHPD
5RMR+DVXUJLGRXQSUREOHPD
$SDJDGR(OVLVWHPDHVWÒHQPRGR
(QHVSHUD
5RMRYHUGHLQWHUPLWHQWHGXUDQWHXQ
EUHYHSHULRGRGHWLHPSR/DWUDQVPLಢ
VLäQGHORFDOL]DFLäQGHOYHKÞFXORVH
KDGHVDFWLYDGR
6HUYLFLRV2Q6WDU
6HUYLFLRVJHQHUDOHV
6LQHFHVLWDLQIRUPDFLäQUHODWLYDSRU
HMHPSORDODVKRUDVGHDSHUWXUDSXQಢ
WRVGHLQWHUÚV\GHVWLQRVRVLQHFHVLWD
DVLVWHQFLDSRUHMHPSORHQHOFDVRGH
,QVWUXPHQWRV\PDQGRV
DYHUÞDGHOYHKÞFXORXQSLQFKD]RGHO
QHXPÒWLFR\GHSäVLWRGHFRPEXVWLEOH
YDFÞRSXOVH=SDUDHVWDEOHFHUXQD
FRQH[LäQFRQXQDVHVRU
6HUYLFLRVGHHPHUJHQFLD
(QFDVRGHHPHUJHQFLDSXOVH>\
KDEOHFRQXQDVHVRU(ODVHVRUVH
SRQGUÒHQFRQWDFWRFRQORVSURYHHಢ
GRUHVGHVHUYLFLRVGHHPHUJHQFLDR
DVLVWHQFLD\ORVHQYLDUÒDVXYHKÞFXOR
(QFDVRGHXQDFFLGHQWHFRQDFWLYDಢ
FLäQGHORVDLUEDJVRORVWHQVRUHVGHO
FLQWXUäQGHVHJXULGDGVHHVWDEOHFH
XQDOODPDGDGHHPHUJHQFLDDXWRPÒಢ
WLFD(ODVHVRUVHFRQHFWDLQPHGLDWDಢ
PHQWHDVXYHKÞFXORSDUDVDEHUVLQHಢ
FHVLWDD\XGD
=RQD:L)L
/DV]RQD:L)LGHOYHKÞFXORSURSRUಢ
FLRQDFRQHFWLYLGDGD,QWHUQHWFRQXQD
YHORFLGDGPÒ[LPDGH*/7(
1RWD
/DIXQFLRQDOLGDGGH]RQD:L)LQR
HVWÒGLVSRQLEOHSDUDWRGRVORVPHUಢ
FDGRV
6HSXHGHQFRQHFWDUKDVWDVLHWHGLVಢ
SRVLWLYRV
3DUDFRQHFWDUXQGLVSRVLWLYRPäYLOD
OD]RQD:L)L
3XOVHM\VHOHFFLRQHODFRQILJXಢ
UDFLäQ:L)LHQODSDQWDOODGHLQಢ
IRUPDFLäQ/DFRQILJXUDFLäQTXH
VHPXHVWUDLQFOX\HHOQRPEUHGH
OD]RQD:L)L66,'ODFRQWUDಢ
VHâD\HOWLSRGHFRQH[LäQ
,QLFLHXQDEëVTXHGDGHUHG:L)L
HQVXGLVSRVLWLYRPäYLO
6HOHFFLRQHHOSXQWRGHFRQH[LäQ
66,'GHVXYHKÞFXORFXDQGRVH
PXHVWUHHQODOLVWD
&XDQGRVHOHVROLFLWHLQWURGX]FD
ODFRQWUDVHâDHQVXGLVSRVLWLYR
PäYLO
1RWD
3DUDFDPELDUHO66,'RODFRQWUDಢ
VHâDSXOVH=\KDEOHFRQXQDVHVRU
RLQLFLHVHVLäQHQVXFXHQWD
3DUDGHVFRQHFWDUODIXQFLRQDOLGDGGH
]RQD:L)LSXOVH=SDUDOODPDUDXQ
DVHVRU
$SOLFDFLäQSDUDVPDUWSKRQH
&RQODDSOLFDFLäQSDUDVPDUWSKRQH
P\2SHOVHSXHGHQXWLOL]DUDOJXQDV
IXQFLRQHVGHOYHKÞFXORSRUFRQWUROUHಢ
PRWR
(VWÒQGLVSRQLEOHVODVVLJXLHQWHVIXQಢ
FLRQHV
ထ %ORTXHRRGHVEORTXHRGHOYHಢ
KÞFXOR
ထ 6RQLGRGHERFLQDROXFHVLQWHUಢ
PLWHQWHV
ထ &RQWUROGHOQLYHOGHFRPEXVWLEOH
YLGDëWLOGHODFHLWHGHOPRWRU\
SUHVLäQGHORVQHXPÒWLFRVVROR
FRQHOVLVWHPDGHFRQWUROGHSUHಢ
VLäQGHORVQHXPÒWLFRV
ထ (QYÞRGHOGHVWLQRGHQDYHJDFLäQ
DOYHKÞFXORVLHVWÒHTXLSDGRFRQ
VLVWHPDGHQDYHJDFLäQLQWHಢ
JUDGR
ထ /RFDOL]DFLäQGHOYHKÞFXORHQXQ
PDSD
ထ *HVWLäQGHFRQILJXUDFLäQ:L)L
3DUDSRGHURSHUDUHVWDVIXQFLRQHV
GHVFDUJXHODDSOLFDFLäQGHO$SSOH
6WRUHRGH*RRJOH3OD\6WRUH
,QVWUXPHQWRV\PDQGRV
0DQGRDGLVWDQFLD
6LTXLHUHSXHGHXWLOL]DUFXDOTXLHUWHಢ
OÚIRQRSDUDOODPDUDXQDVHVRUTXLHQ
SXHGHXWLOL]DUIXQFLRQHVHVSHFÞILFDV
GHOYHKÞFXORGHPDQHUDUHPRWD%XVಢ
TXHHOQëPHURGHWHOÚIRQRGH2Q6WDU
FRUUHVSRQGLHQWHHQHOVLWLRZHEHVSHಢ
FÞILFRGHOSDÞV
(VWÒQGLVSRQLEOHVODVVLJXLHQWHVIXQಢ
FLRQHV
ထ %ORTXHRRGHVEORTXHRGHOYHಢ
KÞFXOR
ထ ,QIRUPDFLäQVREUHODORFDOL]DFLäQ
GHOYHKÞFXOR
ထ 6RQLGRGHERFLQDROXFHVLQWHUಢ
PLWHQWHV
$VLVWHQFLDHQFDVRGHURERGHO
YHKÞFXOR
(QFDVRGHURERGHOYHKÞFXORLQIRUPH
GHOURERDODVDXWRULGDGHV\VROLFLWH
DVLVWHQFLDHQFDVRGHURERGHOYHಢ
KÞFXORGH2Q6WDU8WLOLFHFXDOTXLHUWHಢ
OÚIRQRSDUDOODPDUDXQDVHVRU%XVಢ
TXHHOQëPHURGHWHOÚIRQRGH2Q6WDU
FRUUHVSRQGLHQWHHQHOVLWLRZHEHVSHಢ
FÞILFRGHOSDÞV
2Q6WDUSXHGHSURSRUFLRQDUDVLVWHQಢ
FLDSDUDORFDOL]DU\UHFXSHUDUHOYHಢ
KÞFXOR
$OHUWDGHURER
&XDQGRVHDFWLYDHOVLVWHPDGH
DODUPDDQWLUURERVHHQYÞDXQDQRWLILಢ
FDFLäQD2Q6WDU/DLQIRUPDFLäQVRಢ
EUHHVWHVXFHVRVHUHFLEHSRUPHQಢ
VDMHGHWH[WRRFRUUHRHOHFWUäQLFR
,QIRUPHGHOGLDJQäVWLFR
(OYHKÞFXORWUDQVPLWHDXWRPÒWLFDಢ
PHQWHORVGDWRVGHGLDJQäVWLFRD
2Q6WDUTXHDVXYH]HQYÞDXQLQಢ
IRUPHPHQVXDOSRUFRUUHRHOHFWUäQLFR
DOSURSLHWDULR\DVXWDOOHUSUHIHULGR
,PSHGLUHODUUDQTXH
0HGLDQWHHOHQYÞRGHVHâDOHVUHPRಢ
WDV2Q6WDUSXHGHLPSHGLUTXHHOYHಢ
KÞFXORVHYXHOYDDDUUDQFDUGHVSXÚV
GHVXDSDJDGR
(OLQIRUPHFRQWLHQHHOHVWDGRGHORV
VLVWHPDVRSHUDWLYRVFODYHGHOYHಢ
KÞFXORFRPRPRWRUWUDQVPLVLäQDLUಢ
EDJV$%6\RWURVVLVWHPDVLPSRUWDQಢ
WHV7DPELÚQSURSRUFLRQDLQIRUPDಢ
FLäQVREUHSRVLEOHVSXQWRVGHPDQಢ
WHQLPLHQWR\SUHVLäQGHORVQHXPÒWLಢ
FRVVRORFRQHOVLVWHPDGHFRQWUROGH
SUHVLäQGHORVQHXPÒWLFRV
3DUDH[DPLQDUODLQIRUPDFLäQFRQ
PÒVGHWDOOHVHOHFFLRQHHOYÞQFXOR
FRQWHQLGRHQHOFRUUHRHOHFWUäQLFRH
LQLFLHVHVLäQHQVXFXHQWD
3HWLFLäQGHGLDJQäVWLFRGHVX
YHKÞFXOR
(QFXDOTXLHUPRPHQWRSRUHMHPSOR
VLHOYHKÞFXORPXHVWUDXQPHQVDMHGHO
YHKÞFXORSXOVH=SDUDSRQHUVHHQ
FRQWDFWRFRQXQDVHVRUSDUDVROLFLWDU
TXHVHUHDOLFHXQFRQWUROGHGLDJQäVಢ
WLFRHQWLHPSRUHDO\GHWHUPLQDUGLಢ
UHFWDPHQWHHOSUREOHPD(QIXQFLäQ
GHORVUHVXOWDGRVHODVHVRUSURSRUಢ
FLRQDUÒDVLVWHQFLDDGLFLRQDO
1RWD
/DIXQFLäQGHQRWLILFDFLäQDOWDOOHUVH
SXHGHGHVDFWLYDUHQVXFXHQWD
'HVFDUJDGHLWLQHUDULR
6HSXHGHGHVFDUJDUXQGHVWLQRGHಢ
VHDGRGLUHFWDPHQWHHQHOVLVWHPDGH
QDYHJDFLäQ
,QVWUXPHQWRV\PDQGRV
3XOVH=SDUDOODPDUDXQDVHVRU\
GHVFULEDHOGHVWLQRRHOSXQWRGHLQಢ
WHUÚV
(ODVHVRUSXHGHEXVFDUFXDOTXLHUGLಢ
UHFFLäQRSXQWRGHLQWHUÚV\HQYLDUGLಢ
UHFWDPHQWHHOGHVWLQRHQHOVLVWHPD
GHQDYHJDFLäQLQFRUSRUDGR
&RQILJXUDFLäQGH2Q6WDU
3,1GH2Q6WDU
3DUDGLVSRQHUGHSOHQRDFFHVRDWRಢ
GRVORVVHUYLFLRVGH2Q6WDUVHQHFHಢ
VLWDXQFäGLJR3,1GHFXDWURFLIUDV(O
FäGLJR3,1GHEHSHUVRQDOL]DUVHDO
KDEODUSRUSULPHUDYH]FRQXQDVHVRU
3DUDFDPELDUHOFäGLJR3,1SXOVH=
SDUDOODPDUDXQDVHVRU
'DWRVGHODFXHQWD
8QVXVFULSWRUGH2Q6WDUGLVSRQHGH
XQDFXHQWDGRQGHVHDOPDFHQDQWRಢ
GRVORVGDWRV3DUDVROLFLWDUXQFDPಢ
ELRGHODLQIRUPDFLäQGHODFXHQWD
SXOVH=\KDEOHFRQXQDVHVRURLQLFLH
VHVLäQHQVXFXHQWD
6LVHXWLOL]DHOVHUYLFLRGH2Q6WDUHQ
RWURYHKÞFXORSXOVH=\VROLFLWHTXH
ODFXHQWDVHWUDQVILHUDDOQXHYRYHಢ
KÞFXOR
1RWD
(QFXDOTXLHUFDVRVLVHGHVKDFHGHO
YHKÞFXORORYHQGHRWUDQVILHUHLQಢ
IRUPHLQPHGLDWDPHQWHD2Q6WDUGH
ORVFDPELRV\ILQDOLFHHOVHUYLFLR
2Q6WDUGHHVWHYHKÞFXOR
/RFDOL]DFLäQGHOYHKÞFXOR
/DORFDOL]DFLäQGHOYHKÞFXORVHWUDQVಢ
PLWHD2Q6WDUFXDQGRVHVROLFLWDR
DFWLYDHOVHUYLFLR8QPHQVDMHHQOD
SDQWDOODGHLQIRUPDFLäQLQIRUPDGH
HVWDWUDQVPLVLäQ
3DUDDFWLYDURGHVDFWLYDUODWUDQVPLಢ
VLäQGHORFDOL]DFLäQGHOYHKÞFXOR
PDQWHQJDSXOVDGRMKDVWDRÞUXQ
PHQVDMHGHDXGLR
/DGHVDFWLYDFLäQVHLQGLFDFRQODOX]
URMD\YHUGHGHHVWDGRLQWHUPLWHQWH
GXUDQWHXQEUHYHSHULRGRGHWLHPSR\
FDGDYH]TXHVHDUUDQFDHOYHKÞFXOR
1RWD
6LODWUDQVPLVLäQGHODORFDOL]DFLäQ
GHOYHKÞFXORHVWÒGHVDFWLYDGDDOJXಢ
QRVVHUYLFLRVGHMDUÒQGHHVWDUGLVಢ
SRQLEOHV
1RWD
/DXELFDFLäQGHOYHKÞFXORSHUPDಢ
QHFHVLHPSUHDFFHVLEOHSDUD2Q6WDU
HQFDVRGHHPHUJHQFLD
&RQVXOWHODSROÞWLFDGHSULYDFLGDGGH
VXFXHQWD
$FWXDOL]DFLRQHVGHVRIWZDUH
2Q6WDUSXHGHUHDOL]DUDFWXDOL]DFLRಢ
QHVGHVRIWZDUHUHPRWDPHQWHVLQ
DYLVRQLFRQVHQWLPLHQWRDGLFLRQDO(Vಢ
WDVDFWXDOL]DFLRQHVVLUYHQSDUDPHMRಢ
UDURPDQWHQHUODVHJXULGDGRHOIXQಢ
FLRQDPLHQWRGHOYHKÞFXOR
(VWDVDFWXDOL]DFLRQHVSXHGHQDIHFWDU
DFXHVWLRQHVGHSULYDFLGDG&RQVXOWH
ODSROÞWLFDGHSULYDFLGDGGHVXFXHQWD
,OXPLQDFLäQ
,OXPLQDFLäQ
,OXPLQDFLäQH[WHULRU &RQPXWDGRUGHODVOXFHV &RQWURODXWRPÒWLFRGHODV
OXFHV /X]GHFDUUHWHUD $VLVWHQWHGHOX]GHFDUUHWHUD 5ÒIDJDV 5HJXODFLäQGHODOFDQFHGHORV
IDURV )DURVHQYLDMHVDOH[WUDQMHUR /XFHVGHFLUFXODFLäQGLXUQD 6LVWHPDGHIDURVDGDSWDWLYRV /XFHVGHHPHUJHQFLD 6HâDOL]DFLäQGHJLURV\FDPELRV
GHFDUULO )DURVDQWLQLHEOD 3LORWRDQWLQLHEOD /XFHVGHHVWDFLRQDPLHQWR /XFHVGHPDUFKDDWUÒV )DURVHPSDâDGRV ,OXPLQDFLäQLQWHULRU &RQWUROGHODLOXPLQDFLäQGHO
WDEOHURGHLQVWUXPHQWRV /XFHVLQWHULRUHV /XFHVGHOHFWXUD /XFHVHQORVSDUDVROHV &DUDFWHUÞVWLFDVGHODLOXPLQDಢ
FLäQ ,OXPLQDFLäQGHODFRQVROD
FHQWUDO ,OXPLQDFLäQGHHQWUDGD ,OXPLQDFLäQGHVDOLGD 3URWHFFLäQFRQWUDGHVFDUJDGH
ODEDWHUÞD ,OXPLQDFLäQH[WHULRU
&RQPXWDGRUGHODVOXFHV
&RQPXWDGRUGHODVOXFHVFRQ
FRQWURODXWRPÒWLFRGHODVOXFHV
,OXPLQDFLäQ
*LUHHOFRQPXWDGRUGHODVOXFHV
$872 &RQWURODXWRPÒWLFRGHODV
OXFHVODLOXPLQDFLäQH[WHULRU
VHHQFLHQGH\DSDJDDXWRಢ
PÒWLFDPHQWHGHSHQGLHQGR
GHODVFRQGLFLRQHVGHLOXPLಢ
QDFLäQH[WHUQDV
P
$FWLYDFLäQRGHVDFWLYDFLäQ
GHOFRQWURODXWRPÒWLFRGHOXಢ
FHV(OFRQPXWDGRUYXHOYHD
$872
/XFHVODWHUDOHV
)DURV
/DVOXFHVDGLFLRQDOHVHQHOPDUFRGHO
SRUWäQWUDVHUR6SRUWV7RXUHU
&RXQWU\7RXUHU
+D\FRQMXQWRVGHOXFHVWUDVHUDVDGLಢ
FLRQDOHVTXHFRQVWDQGHOXFHVWUDVHಢ
UDV\OXFHVGHDYHUÞDVLWXDGRVHQHO
PDUFRGHOSRUWäQWUDVHUR6HHQFLHQಢ
GHQFXDQGRVHDEUHHOSRUWäQWUDVHUR
/DVOXFHVWUDVHUDVDGLFLRQDOHVVäOR
VLUYHQFRPROXFHVGHSRVLFLäQ
FXDQGRHOSRUWäQWUDVHURHVWÒDELHUWR
\QRSDUDVXXVRFRPROXFHVGHFLUಢ
FXODFLäQ
&XDQGRHVWÒFRQHFWDGDODIXQFLäQGH
FRQWURODXWRPÒWLFRGHODVOXFHV\HO
PRWRUHVWÒHQPDUFKDHOVLVWHPD
FDPELDDXWRPÒWLFDPHQWHHQWUHOX]GH
FLUFXODFLäQGLXUQD\OX]GHFUXFHOX]
GHFDUUHWHUDGHSHQGLHQGRGHODV
FRQGLFLRQHVOXPLQRVDV\GHODLQIRUಢ
PDFLäQSURSRUFLRQDGDSRUHOVLVWHPD
GHOVHQVRUGHOOXYLD
/X]GHFLUFXODFLäQGLXUQD
(OHVWDGRDFWXDOGHOFRQWURODXWRPÒಢ
WLFRGHODVOXFHVVHPXHVWUDHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
$OFRQHFWDUHOHQFHQGLGRVHDFWLYDHO
FRQWURODXWRPÒWLFRGHODVOXFHV
7HVWLJRGHFRQWURO
&RQWURODXWRPÒWLFRGHODV
OXFHV
(QFRQGLFLRQHVGHHVFDVDLOXPLQDಢ
FLäQVHHQFLHQGHQORVIDURV
$GHPÒVORVIDURVVHHQFLHQGHQVLORV
OLPSLDSDUDEULVDVVHDFWLYDQSDUDYDಢ
ULRVEDUULGRV
/XFHVWUDVHUDV
/DVOXFHVWUDVHUDVVHHQFLHQGHQMXQWR
FRQODOX]GHFUXFHOX]GHFDUUHWHUD
\ODVOXFHVODWHUDOHV
$FWLYDFLäQDXWRPÒWLFDGHORV
IDURV
'HWHFFLäQGHWëQHOHV
&XDQGRVHHQWUDHQXQWëQHOVHHQಢ
FLHQGHQORVIDURVVLQUHWDUGR
6LVWHPDGHIDURVDGDSWDWLYRV
,OXPLQDFLäQ
/X]GHFDUUHWHUD
3DUDFDPELDUGHOX]GHFUXFHDOX]GH
FDUUHWHUDSXOVHODSDODQFD
3DUDFDPELDUDOX]GHFUXFHYXHOYDD
SXOVDURWLUDUGHODSDODQFD
$VLVWHQWHGHOX]GH
FDUUHWHUD
'HVFULSFLäQSDUDODYHUVLäQFRQIDURV
KDOäJHQRV$VLVWHQWHGHOX]GHFDUUHಢ
WHUDFRQVLVWHPDGHIDURVDGDSWDWLYRV
(VWDFDUDFWHUÞVWLFDSHUPLWHXVDUODOX]
GHFDUUHWHUDFRPROX]SULQFLSDOSDUD
FLUFXODUGHQRFKH\FXDQGRODYHORFLಢ
GDGGHOYHKÞFXORHVVXSHULRUD
NPK
6HFDPELDDXWRPÒWLFDPHQWHDOX]GH
FUXFHFXDQGR
ထ 8QVHQVRUGHWHFWDODVOXFHVGH
YHKÞFXORVTXHYLHQHQGHIUHQWHR
TXHYDQGHODQWH
ထ /DYHORFLGDGGHOYHKÞFXORHVLQಢ
IHULRUDNPK
ထ +D\QLHEODRQLHYD
ထ 6HFRQGXFHSRUÒUHDVXUEDQDV
6LQRVHGHWHFWDQLQJëQIDFWRUUHVWULFಢ
WLYRHOVLVWHPDYXHOYHDFDPELDUDOX]
GHFDUUHWHUD
$FWLYDFLäQ
/DDVLVWHQFLDGHOX]GHFDUUHWHUDVH
DFWLYDSXOVDQGRGRVYHFHVODSDODQFD
GHOLQWHUPLWHQWHVXSHUDQGRXQDYHORಢ
FLGDGGHNPK
(OWHVWLJRGHFRQWUROYHUGHOVHHQಢ
FLHQGHGHIRUPDSHUPDQHQWHFXDQGR
HODVLVWHQWHHVWÒDFWLYDGRHOWHVWLJR
D]XOVHHQFLHQGHFXDQGRODOX]GH
FDUUHWHUDHVWÒHQFHQGLGD
7HVWLJRGHFRQWUROO
,OXPLQDFLäQ
'HVDFWLYDFLäQ
3XOVHXQDYH]ODSDODQFDGHOLQWHUPLಢ
WHQWH7DPELÚQVHGHVDFWLYDFXDQGR
VHFRQHFWDQODVOXFHVDQWLQLHEODGHಢ
ODQWHUDV
6LVHDFWLYDQODVUÒIDJDVFXDQGRHVಢ
WÒQHQFHQGLGDVODVOXFHVGHFDUUHಢ
WHUDVHGHVDFWLYDUÒHODVLVWHQWHGH
OX]GHFDUUHWHUD
6LVHDFWLYDQODVUÒIDJDVFXDQGRHVಢ
WÒQDSDJDGDVODVOXFHVGHFDUUHWHUD
VHGHVDFWLYDUÒHODVLVWHQWHGHOX]GH
FDUUHWHUD
(OëOWLPRDMXVWHGHODVLVWHQWHGHOX]GH
FDUUHWHUDVHJXDUGDUÒXQDYH]TXHVH
KD\DFRQHFWDGRHOHQFHQGLGRGH
QXHYR
5ÒIDJDV
3DUDDFFLRQDUODVUÒIDJDVWLUHGHOD
SDODQFD
5HJXODFLäQGHODOFDQFHGH
ORVIDURV
5HJXODFLäQPDQXDOGHODOFDQFH
GHORVIDURV
7RGRVORVDVLHQWRVRFXSDGRV\
FDUJDHQHOFRPSDUWLPHQWRGH
FDUJD
$VLHQWRGHOFRQGXFWRURFXSDGR\
FDUJDHQHOFRPSDUWLPHQWRGH
FDUJD
1LYHODFLäQGLQÒPLFDDXWRPÒWLFDGH
ORVIDURV
)DURVHQYLDMHVDOH[WUDQMHUR
3DUDDGDSWDUHODOFDQFHGHORVIDURV
DODFDUJDGHOYHKÞFXOR\HYLWDUHOGHVಢ
OXPEUDPLHQWRJLUHODUXHGDGH
DMXVWHKDVWDODSRVLFLäQUHTXHULGD
$VLHQWRVGHODQWHURVRFXSDGRV
7RGRVORVDVLHQWRVRFXSDGRV
/DOX]GHFUXFHDVLPÚWULFDDXPHQWDHO
FDPSRGHYLVLäQGHODFDUUHWHUDHQHO
ODGRGHODFRPSDâDQWH
6LQHPEDUJRDOFLUFXODUHQSDÞVHV
GRQGHVHFRQGXFHSRUHOODGR
RSXHVWRGHODFDUUHWHUDGHEHDMXVWDU
ORVIDURVSDUDHYLWDUHOGHVOXPEUDಢ
PLHQWRGHORVYHKÞFXORVTXHYLHQHQ
GHIUHQWH
9HKÞFXORVFRQVLVWHPDGHIDURV
KDOäJHQRV
1RHVQHFHVDULRUHJXODUHODOFDQFHGH
ORVIDURV
,OXPLQDFLäQ
9HKÞFXORVFRQVLVWHPDGHIDURV
GH[HQäQ\VLVWHPDGHIDURV
DGDSWDWLYRV
/RVIDURVVHSXHGHQDMXVWDUVHJëQHO
PRGRGHOWUÒILFRFRQYRODQWHDODGHಢ
UHFKDRDODL]TXLHUGDHQHOPHQëGH
SHUVRQDOL]DFLäQGHOYHKÞFXORHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
&DGDYH]TXHVHFRQHFWDHOHQFHQಢ
GLGRHOWHVWLJRGHFRQWUROISDUSDGHD
GXUDQWHDSUR[LPDGDPHQWH
VHJXQGRVFRPRUHFRUGDWRULRGH
TXHVHKDVHOHFFLRQDGRHOPRGRGH
WUÒILFRFRQYRODQWHDODGHUHFKD
9XHOYDDOPRGRGHWUÒILFRFRQYRODQWH
DODL]TXLHUGDHQHOPHQëGHSHUVRಢ
QDOL]DFLäQGHOYHKÞFXORVHJëQORGHVಢ
FULWRDQWHULRUPHQWHIQRSDUSDGHDUÒ
FXDQGRHVWÚVHOHFFLRQDGRHOPRGRGH
WUÒILFRFRQYRODQWHDODL]TXLHUGD
7HVWLJRGHFRQWUROI
/XFHVGHFLUFXODFLäQGLXUQD
/DOX]GHFLUFXODFLäQGLXUQDDXPHQWD
ODYLVLELOLGDGGHOYHKÞFXORGXUDQWHHO
GÞD
6HHQFLHQGHQDXWRPÒWLFDPHQWHDO
FRQHFWDUHOHQFHQGLGR
6LHOYHKÞFXORHVWÒHTXLSDGRFRQOD
IXQFLäQGHFRQWURODXWRPÒWLFRGHODV
OXFHVORVLQWHUUXSWRUHVGHOVLVWHPDDOಢ
WHUQDQHQWUHODOX]GHFLUFXODFLäQ
GLXUQD\ODOX]GHFUXFHFDUUHWHUDGHಢ
SHQGLHQGRGHODVFRQGLFLRQHVGHOX]
\ODLQIRUPDFLäQUHFLELGDHQHOVLVಢ
WHPDVHQVRUGHOOXYLD&RQWURODXWRಢ
PÒWLFRGHODVOXFHV
6LVWHPDGHIDURV
DGDSWDWLYRV
/DVIXQFLRQHVGHOVLVWHPDGHIDURV
DGDSWDWLYRVVäORHVWÒQGLVSRQLEOHV
FRQIDURVEL[HQäQ(ODOFDQFHODGLVಢ
WULEXFLäQ\ODLQWHQVLGDGGHODVOXFHV
VHUHJXODQGHIRUPDYDULDEOHGHSHQಢ
GLHQGRGHODVFRQGLFLRQHVGHOXPLQRಢ
VLGDGGHOWLHPSR\GHOWLSRGHFDUUHಢ
WHUD
$OJXQDVIXQFLRQHVGHOVLVWHPDGHIDಢ
URVDGDSWDWLYRVVHSXHGHQGHVDFWLYDU
RDFWLYDUHQHOPHQëGHSHUVRQDOL]Dಢ
FLäQGHOYHKÞFXOR6HOHFFLRQHODFRQಢ
ILJXUDFLäQFRUUHVSRQGLHQWHHQ
$MXVWHV 9
9HKÞFXORHQODSDQWDOODGH
LQIRUPDFLäQ3HUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
&RQHOFRQPXWDGRUGHODVOXFHVHQOD
$872HVWÒQGLVSRQLEOHVWRಢ
SRVLFLäQ$
GDVODVIXQFLRQHVGHLOXPLQDFLäQ
/DVVLJXLHQWHVIXQFLRQHVHVWÒQGLVಢ
SRQLEOHVWDPELÚQFRQHOFRQPXWDGRU
GHODVOXFHVHQSRVLFLäQ
ထ LOXPLQDFLäQGLQÒPLFDHQFXUYDV
ထ LOXPLQDFLäQHVWÒWLFDHQFXUYDV
ထ IXQFLäQGHPDUFKDDWUÒV
ထ QLYHODFLäQGLQÒPLFDDXWRPÒWLFD
GHORVIDURV
,OXPLQDFLäQGH]RQDSHDWRQDO
6HDFWLYDDXWRPÒWLFDPHQWHDEDMDYHಢ
ORFLGDGKDVWDXQRVNPK(OKD]
GHOX]VHGHVYÞDHQXQÒQJXORGH¡
KDFLDHOODGRGHODFDUUHWHUD
,OXPLQDFLäQ
,OXPLQDFLäQGHFLXGDG
,OXPLQDFLäQGHWLHPSRDGYHUVR
6HDFWLYDDXWRPÒWLFDPHQWHHQXQ
PDUJHQGHYHORFLGDGGHHQWUHXQRV
\NPK\FXDQGRHOVHQVRUGH
OX]GHWHFWDXQDLOXPLQDFLäQXUEDQD
(ODOFDQFHGHODOX]VHUHGXFH\VH
DPSOÞDODGLVWULEXFLäQGHODPLVPD
6HDFWLYDDXWRPÒWLFDPHQWHDXQDYHಢ
ORFLGDGGHKDVWDNPKFXDQGRHO
VHQVRUGHOOXYLDGHWHFWDFRQGHQVDಢ
FLäQRORVOLPSLDSDUDEULVDVIXQFLRQDQ
FRQWLQXDPHQWH(ODOFDQFHODGLVWULಢ
EXFLäQ\ODLQWHQVLGDGGHODVOXFHVVH
UHJXODQGHIRUPDYDULDEOHGHSHQಢ
GLHQGRGHODYLVLELOLGDG
,OXPLQDFLäQGHFDUUHWHUD
VHFXQGDULD
6HDFWLYDDXWRPÒWLFDPHQWHDXQDYHಢ
ORFLGDGHQWUH\NPK(OKD]GH
OX]\HOEULOORGHOODGRL]TXLHUGR\GHಢ
UHFKRVRQGLIHUHQWHV
,OXPLQDFLäQGLQÒPLFDHQFXUYDV
/X]GHDXWRSLVWD
6HDFWLYDDXWRPÒWLFDPHQWHDXQDYHಢ
ORFLGDGVXSHULRUDXQRVNPK\
PRYLPLHQWRVPÞQLPRVGHOYRODQWH6H
FRQHFWDFRQUHWDUGRRLQPHGLDWDಢ
PHQWHFXDQGRHOYHKÞFXORDFHOHUD
IXHUWHPHQWH(OKD]GHOX]HVPÒV
ODUJR\EULOODQWH
(OKD]GHOX]JLUDHQIXQFLäQGHOÒQಢ
JXORGHOYRODQWH\GHODYHORFLGDG
PHMRUDQGRODLOXPLQDFLäQHQFXUYDV
7HVWLJRGHFRQWUROI
,OXPLQDFLäQHVWÒWLFDHQFXUYDV
(QJLURVFHUUDGRVRFUXFHVGHSHQಢ
GLHQGRGHOÒQJXORGHODGLUHFFLäQRGH
ORVLQWHUPLWHQWHVVHFRQHFWDXQUHಢ
IOHFWRUDGLFLRQDOHQHOODGRL]TXLHUGRR
GHUHFKRTXHLOXPLQDODFDUUHWHUDFRQ
HOÒQJXORDGHFXDGRHQODGLUHFFLäQGH
PDUFKD6HDFWLYDKDVWDXQDYHORFLಢ
GDGPÒ[LPDGHNPK
7HVWLJRGHFRQWUROI
)XQFLäQGHPDUFKDDWUÒV
6LORVIDURVHVWÒQHQFHQGLGRV\VH
HQJUDQDODPDUFKDDWUÒVVHFRQHFWD
ODLOXPLQDFLäQHVWÒWLFDHQDPERVODಢ
GRV3HUPDQHFHHQFHQGLGDGXUDQWH
VHJXQGRVGHVSXÚVGHGHVHQJUDಢ
QDUODPDUFKDDWUÒVRKDVWDFLUFXODUD
PÒVGHNPKKDFLDGHODQWH
,OXPLQDFLäQ
$VLVWHQWHGHOX]GHFDUUHWHUD
(VWDFDUDFWHUÞVWLFDSHUPLWHXVDUODOX]
GHFDUUHWHUDFRPROX]SULQFLSDOSDUD
FLUFXODUGHQRFKH\FXDQGRODYHORFLಢ
GDGGHOYHKÞFXORHVVXSHULRUD
NPK
6HFDPELDDXWRPÒWLFDPHQWHDOX]GH
FUXFHFXDQGR
ထ /DFÒPDUDHQHOSDUDEULVDVGHಢ
WHFWDODVOXFHVGHYHKÞFXORVTXH
YLHQHQGHIUHQWHRSRUGHWUÒV
ထ /DYHORFLGDGGHOYHKÞFXORHVLQಢ
IHULRUDNPK
ထ +D\QLHEODRQLHYD
ထ 6HFRQGXFHSRUÒUHDVXUEDQDV
6LQRVHGHWHFWDQLQJëQIDFWRUUHVWULFಢ
WLYRHOVLVWHPDYXHOYHDFDPELDUDOX]
GHFDUUHWHUD
$FWLYDFLäQ
/DDVLVWHQFLDGHOX]GHFDUUHWHUDVH
DFWLYDSXOVDQGRGRVYHFHVODSDODQFD
GHOLQWHUPLWHQWHVXSHUDQGRXQDYHORಢ
FLGDGGHNPK
(OWHVWLJRGHFRQWUROYHUGHOVHHQಢ
FLHQGHGHIRUPDSHUPDQHQWHFXDQGR
HODVLVWHQWHHVWÒDFWLYDGRHOWHVWLJR
D]XOVHHQFLHQGHFXDQGRODOX]GH
FDUUHWHUDHVWÒHQFHQGLGD
7HVWLJRGHFRQWUROO
'HVDFWLYDFLäQ
3XOVHXQDYH]ODSDODQFDGHOLQWHUPLಢ
WHQWH7DPELÚQVHGHVDFWLYDFXDQGR
VHFRQHFWDQODVOXFHVDQWLQLHEODGHಢ
ODQWHUDV
6LVHDFWLYDQODVUÒIDJDVFXDQGRHVಢ
WÒQHQFHQGLGDVODVOXFHVGHFDUUHಢ
WHUDVHGHVDFWLYDUÒHODVLVWHQWHGH
OX]GHFDUUHWHUD
6LVHDFWLYDQODVUÒIDJDVFXDQGRHVಢ
WÒQDSDJDGDVODVOXFHVGHFDUUHWHUD
VHGHVDFWLYDUÒHODVLVWHQWHGHOX]GH
FDUUHWHUD
(OëOWLPRDMXVWHGHODVLVWHQWHGHOX]GH
FDUUHWHUDSHUPDQHFHUÒDFWLYDGRDO
YROYHUDFRQHFWDUHOHQFHQGLGR
1LYHODFLäQGLQÒPLFDDXWRPÒWLFD
GHORVIDURV
3DUDHYLWDUHOGHVOXPEUDPLHQWRGHORV
YHKÞFXORVTXHYLHQHQGHIUHQWHODQLಢ
YHODFLäQGHORVIDURVVHDMXVWDDXWRಢ
PÒWLFDPHQWHEDVÒQGRVHHQODLQIRUಢ
PDFLäQVREUHLQFOLQDFLäQPHGLGDHQ
HOHMHGHODQWHUR\WUDVHURODDFHOHUDಢ
FLäQRGHVDFHOHUDFLäQ\ODYHORFLGDG
GHOYHKÞFXOR
,OXPLQDFLäQ
)DOORGHOVLVWHPDGHIDURV
DGDSWDWLYRV
&XDQGRHOVLVWHPDGHWHFWDXQIDOORHQ
HOVLVWHPDGHIDURVDGDSWDWLYRVVH
FDPELDDXQDSRVLFLäQSUHGHWHUPLಢ
QDGDSDUDHYLWDUHOGHVOXPEUDPLHQWR
GHORVYHKÞFXORVTXHYLHQHQGHIUHQWH
6LQRHVSRVLEOHHOIDURDIHFWDGRVH
DSDJDUÒDXWRPÒWLFDPHQWH(QFXDOಢ
TXLHUFDVRXQRGHORVIDURVVHJXLUÒ
HQFHQGLGR$SDUHFHXQDDGYHUWHQFLD
HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU
(QFDVRGHDFFLGHQWHFRQGHVSOLHJXH
GHODLUEDJODVOXFHVGHHPHUJHQFLDVH
DFWLYDQDXWRPÒWLFDPHQWH
6HâDOL]DFLäQGHJLURV\
FDPELRVGHFDUULO
/XFHVGHHPHUJHQFLD
3DODQFDKDFLD
DUULED
3DODQFDKDFLD
DEDMR
LQWHUPLWHQWHGHUHಢ
FKR
LQWHUPLWHQWHL]ಢ
TXLHUGR
6LODSDODQFDVHPXHYHPÒVDOOÒGHO
SXQWRGHUHVLVWHQFLDHOLQWHUPLWHQWH
VHFRQHFWDSHUPDQHQWHPHQWH
6HDFWLYDQSXOVDQGRe
&XDQGRHOYRODQWHYXHOYHDJLUDUVH
GHVDFWLYDHOLQWHUPLWHQWHDXWRPÒWLFDಢ
PHQWH
3DUDHPLWLUWUHVLQWHUPLWHQFLDVSHM
DOFDPELDUGHFDUULOSXOVHODSDODQFD
KDVWDSHUFLELUFLHUWDUHVLVWHQFLD\
VXÚOWHOD
&RQXQUHPROTXHFRQHFWDGRORVLQಢ
WHUPLWHQWHVSDUSDGHDQVHLVYHFHV\OD
IUHFXHQFLDGHWRQRFDPELDVLVHSXOVD
ODSDODQFDKDVWDHOSXQWRGHUHVLVWHQಢ
FLD\OXHJRVHVXHOWD
3DUDXQDLQGLFDFLäQPÒVSURORQJDGD
PDQWHQJDODSDODQFDSXOVDGD
'HVFRQHFWHORVLQWHUPLWHQWHVPDಢ
QXDOPHQWHPRYLHQGRODSDODQFD
KDVWDVXSRVLFLäQRULJLQDO
,OXPLQDFLäQ
)DURVDQWLQLHEOD
3LORWRDQWLQLHEOD
/XFHVGHHVWDFLRQDPLHQWR
6HDFWLYDQSXOVDQGR
&RQPXWDGRUGHODVOXFHVHQSRVLFLäQ
$872DOFRQHFWDUORVIDURVDQWLQLHಢ
EODVHHQFHQGHUÒQDXWRPÒWLFDPHQWH
ORVIDURV
6HDFWLYDQSXOVDQGRP
&RQPXWDGRUGHODVOXFHVHQSRVLFLäQ
$872DOFRQHFWDUHOSLORWRDQWLQLHEOD
VHHQFHQGHUÒQDXWRPÒWLFDPHQWHORV
IDURV
&RQPXWDGRUGHODVOXFHVHQSRVLFLäQ
HOSLORWRDQWLQLHEODVäORVHSXHGH
FRQHFWDUMXQWRFRQORVIDURVDQWLQLHಢ
EOD
(OSLORWRDQWLQLHEODGHOYHKÞFXORVH
GHVDFWLYDFXDQGRVHOOHYDXQUHPROಢ
TXH
&XDQGRHOYHKÞFXORHVWÒDSDUFDGRVH
SXHGHQDFWLYDUODVOXFHVGHHVWDFLRಢ
QDPLHQWRGHXQODGR
'HVFRQHFWHHOHQFHQGLGR
0XHYDODSDODQFDGHORVLQWHUPLಢ
WHQWHVWRWDOPHQWHKDFLDDUULEDOXಢ
FHVGHHVWDFLRQDPLHQWRGHOODGR
GHUHFKRRKDFLDDEDMROXFHVGH
HVWDFLRQDPLHQWRGHOODGRL]ಢ
TXLHUGR
&RQILUPDFLäQPHGLDQWHXQDVHâDO
DFëVWLFD\HOWHVWLJRGHFRQWUROGHORV
LQWHUPLWHQWHVGHOODGRFRUUHVSRQಢ
GLHQWH
,OXPLQDFLäQ
/XFHVGHPDUFKDDWUÒV
/DOX]GHPDUFKDDWUÒVVHHQFLHQGH
DXWRPÒWLFDPHQWHFXDQGRHVWÒFRಢ
QHFWDGRHOHQFHQGLGR\VHHQJUDQDOD
PDUFKDDWUÒV
,OXPLQDFLäQLQWHULRU
&RQWUROGHODLOXPLQDFLäQGHO
WDEOHURGHLQVWUXPHQWRV
(QYHKÞFXORVFRQVHQVRUGHOX]HO
EULOORVäORSXHGHDMXVWDUVHFXDQGRODV
OXFHVH[WHULRUHVHVWÒQHQFHQGLGDV\
HOVHQVRUGHOX]GHWHFWDFRQGLFLRQHV
QRFWXUQDV
/XFHVLQWHULRUHV
)DURVHPSDâDGRV
$OHQWUDU\VDOLUGHOYHKÞFXORVHHQಢ
FLHQGHQDXWRPÒWLFDPHQWHODVOXFHV
GHFRUWHVÞDGHODQWHUD\WUDVHUDOXHJR
VHDSDJDQFRQXQOHYHUHWDUGR
(OLQWHULRUGHODVOXFHVSXHGHHPSDಢ
âDUVHFRQWLHPSRIUÞR\KëPHGROOXYLD
LQWHQVDRGHVSXÚVGHODYDUHOYHಢ
KÞFXOR(OHPSDâDPLHQWRGHVDSDUHFH
UÒSLGDPHQWHSDUDIDFLOLWDUHOSURFHVR
HQFLHQGDORVIDURV
1RWD
(QFDVRGHDFFLGHQWHFRQGHVSOLHಢ
JXHGHORVDLUEDJVODVOXFHVGHFRUಢ
WHVÞDVHHQFLHQGHQDXWRPÒWLFDಢ
PHQWH
6HSXHGHDMXVWDUHOEULOORGHODVVLಢ
JXLHQWHVOXFHVFXDQGRODVOXFHVH[ಢ
WHULRUHVHVWÒQHQFHQGLGDV
ထ LOXPLQDFLäQGHOWDEOHURGHLQVWUXಢ
PHQWRV
ထ SDQWDOODGHLQIRUPDFLäQ
ထ OX]GHOWHFKR
ထ LQWHUUXSWRUHV\HOHPHQWRVGH
PDQGRLOXPLQDGRV
*LUHODUXHGDGHDMXVWH$\PDQWÚQಢ
JDODKDVWDREWHQHUHOEULOORGHVHDGR
,OXPLQDFLäQ
/X]GHFRUWHVÞDGHODQWHUD
/XFHVGHOHFWXUD
$FFLRQHHOLQWHUUXSWRUEDVFXODQWH
Z
FRQH[LäQ\GHVFRQH[LäQ
DXWRPÒWLFD
SXOVHX FRQHFWDGR
SXOVHY GHVFRQHFWDGR
6HHQFLHQGHQSXOVDQGRV\WHQODV
OXFHVGHFRUWHVÞDGHODQWHUDV\WUDVHಢ
UDV
/XFHVGHFRUWHVÞDWUDVHUDV
6HLOXPLQDQMXQWRFRQODOX]GHFRUWHಢ
VÞDGHODQWHUDGHSHQGLHQGRGHODSRಢ
VLFLäQGHOLQWHUUXSWRUEDVFXODQWH
(QORVYHKÞFXORVFRQOXFHVLQWHULRUHV
\WHFKRSDQRUÒPLFRHVWÒQVLWXDGDV
FHUFDGHODVPDQLOODVWUDVHUDV
(QFLHQGDODVOXFHVGHOHFWXUDSXOಢ
VDQGRHQODFXELHUWD
/XFHVHQORVSDUDVROHV
6HHQFLHQGHQDODEULUODWDSD
,OXPLQDFLäQ
&DUDFWHUÞVWLFDVGHOD
LOXPLQDFLäQ
,OXPLQDFLäQGHODFRQVROD
FHQWUDO
(OIRFRLQFRUSRUDGRHQODLOXPLQDFLäQ
LQWHULRUVHHQFLHQGHDOFRQHFWDUORV
IDURV
,OXPLQDFLäQGHHQWUDGD
,OXPLQDFLäQGHELHQYHQLGD
/RVIDURVODVOXFHVWUDVHUDVODVOXFHV
GHODPDWUÞFXODODLOXPLQDFLäQGHOWDಢ
EOHURGHLQVWUXPHQWRVODLOXPLQDFLäQ
LQWHULRU\ODLOXPLQDFLäQGHFKDUFRVVH
HQFLHQGHQEUHYHPHQWHDOGHVEORಢ
TXHDUHOYHKÞFXORFRQHOPDQGRDGLVಢ
WDQFLD(VWDIXQFLäQVäORHVWÒRSHUDಢ
WLYDHQFRQGLFLRQHVGHRVFXULGDG\IDಢ
FLOLWDODORFDOL]DFLäQGHOYHKÞFXOR
/DVOXFHVVHDSDJDQLQPHGLDWDPHQWH
FXDQGRVHFRQHFWDHOHQFHQGLGR$O
VDOLUGHYLDMH
6HSXHGHDFWLYDURGHVDFWLYDUHVWD
IXQFLäQHQ3HUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/RVDMXVWHVVHSXHGHQJXDUGDUSDUD
ODOODYHXWLOL]DGD
6HFRQHFWDUÒQDGLFLRQDOPHQWHODVVLಢ
JXLHQWHVOXFHVDODEULUODSXHUWDGHO
FRQGXFWRU
ထ OX]GHWRGRVORVLQWHUUXSWRUHV
ထ &HQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU
ထ OXFHVGHODVSXHUWDV
6HGHVFRQHFWDDXWRPÒWLFDPHQWH
GHVSXÚVGHXQUHWDUGR(VWDIXQFLäQ
VäORHVWÒRSHUDWLYDHQFRQGLFLRQHVGH
RVFXULGDG6HDFWLYDODLOXPLQDFLäQ
DPELHQWDOVLVHDEUHODSXHUWDGHOFRQಢ
GXFWRUGXUDQWHHVWHWLHPSR
,OXPLQDFLäQGHOFDPLQR
/RVIDURVODVOXFHVWUDVHUDV\ODVOXಢ
FHVGHODPDWUÞFXODLOXPLQDQHOÒUHD
FLUFXQGDQWHGXUDQWHXQSHULRGRGH
WLHPSRUHJXODEOHGHVSXÚVGHVDOLU
GHOYHKÞFXOR
$FWLYDFLäQ
,OXPLQDFLäQGHVDOLGD
$OVDFDUODOODYHGHODFHUUDGXUDGHO
HQFHQGLGRVHFRQHFWDUÒQODVVLJXLHQಢ
WHVOXFHV
ထ OXFHVLQWHULRUHV
ထ LOXPLQDFLäQGHOWDEOHURGHLQVWUXಢ
PHQWRV
ထ LOXPLQDFLäQGHFKDUFRV
'HVFRQHFWHHOHQFHQGLGR
6DTXHODOODYHGHOHQFHQGLGR
,OXPLQDFLäQ
$EUDODSXHUWDGHOFRQGXFWRU
7LUHGHODSDODQFDGHORVLQWHUPLಢ
WHQWHV
&LHUUHODSXHUWDGHOFRQGXFWRU
6LQRVHFLHUUDODSXHUWDGHOFRQGXFಢ
WRUODVOXFHVVHDSDJDUÒQGHVSXÚVGH
GRVPLQXWRV
/DLOXPLQDFLäQGHVDOLGDVHDSDJDLQಢ
PHGLDWDPHQWHVLWLUDGHODSDODQFDGH
ORVLQWHUPLWHQWHVFRQODSXHUWDGHO
FRQGXFWRUDELHUWD
6HSXHGHDFWLYDURGHVDFWLYDUHVWD
IXQFLäQHQ3HUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/RVDMXVWHVVHSXHGHQJXDUGDUSDUD
ODOODYHXWLOL]DGD
3URWHFFLäQFRQWUDGHVFDUJD
GHODEDWHUÞD
)XQFLäQGHHVWDGRGHFDUJDGHOD
EDWHUÞDGHOYHKÞFXOR
(VWDIXQFLäQJDUDQWL]DODPÒ[LPDGXಢ
UDFLäQGHODEDWHUÞDGHOYHKÞFXORPHಢ
GLDQWHXQDOWHUQDGRUFRQVDOLGDGHFRಢ
UULHQWHUHJXODEOH\XQDGLVWULEXFLäQ
HOÚFWULFDRSWLPL]DGD
3DUDHYLWDUTXHODEDWHUÞDGHOYHKÞFXOR
VHGHVFDUJXHDOFRQGXFLUORVVLJXLHQಢ
WHVVLVWHPDVVHUHGXFHQDXWRPÒWLFDಢ
PHQWHHQGRVIDVHVSDUDSRUëOWLPR
GHVFRQHFWDUVH
ထ FDOHIDFWRUDX[LOLDU
ထ OXQHWDWUDVHUD\UHWURYLVRUHVWÚUಢ
PLFRV
ထ DVLHQWRVFDOHIDFWDGRV
ထ YHQWLODGRU
(QODVHJXQGDIDVHDSDUHFHXQPHQಢ
VDMHHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRUFRQILUPDQGRODDFWLYDFLäQ
GHODSURWHFFLäQFRQWUDGHVFDUJDGH
ODEDWHUÞDGHOYHKÞFXOR
'HVFRQH[LäQGHODVOXFHV
HOÚFWULFDV
3DUDHYLWDUODGHVFDUJDGHODEDWHUÞD
GHOYHKÞFXORFRQHOHQFHQGLGRGHVFRಢ
QHFWDGRDOJXQDVOXFHVLQWHULRUHVVH
DSDJDQDXWRPÒWLFDPHQWHGHVSXÚV
GHXQFLHUWRWLHPSR
&OLPDWL]DFLäQ
&OLPDWL]DFLäQ
6LVWHPDVGHFOLPDWL]DFLäQ $LUHDFRQGLFLRQDGR &OLPDWL]DGRUDXWRPÒWLFR 6LVWHPDGHFOLPDWL]DFLäQGXDO &DOHIDFWRUDX[LOLDU 6DOLGDVGHDLUH 6DOLGDVGHDLUHUHJXODEOHV 6DOLGDVGHDLUHILMDV 0DQWHQLPLHQWR (QWUDGDGHDLUH )LOWURGHSROHQ )XQFLRQDPLHQWRUHJXODUGHODLUH
DFRQGLFLRQDGR 6HUYLFLR 6LVWHPDVGH
FOLPDWL]DFLäQ
$LUHDFRQGLFLRQDGR
0DQGR\ERWRQHVSDUDODVVLJXLHQWHV
IXQFLRQHV
ထ WHPSHUDWXUD7
7(03
ထ GLVWULEXFLäQGHDLUHD,*
ထ YHORFLGDGGHOYHQWLODGRU
ထ UHIULJHUDFLäQ$
$&
ထ UHFLUFXODFLäQGHDLUH
ထ GHVHPSDâDGR\GHVFRQJHODFLäQ
5
/XQHWDWÚUPLFDWUDVHUD^
$VLHQWRVFDOHIDFWDGRVd
$VLHQWRVYHQWLODGRV
9RODQWHWÚUPLFR
7HPSHUDWXUD7(03
0DQGRGHJLUR
URMR FDOLHQWH
D]XO IUÞR
/DFDOHIDFFLäQQRVHUÒWRWDOPHQWH
HIHFWLYDKDVWDTXHHOPRWRUKD\DDOಢ
FDQ]DGRODWHPSHUDWXUDQRUPDOGH
IXQFLRQDPLHQWR
&OLPDWL]DFLäQ
'LVWULEXFLäQGHDLUHD,*
9HORFLGDGGHOYHQWLODGRU
5HIULJHUDFLäQ$$
3XOVH
D KDFLDHOSDUDEULVDV\ODVYHQWDಢ
QLOODVGHODQWHUDV
, KDFLDOD]RQDGHODFDEH]DPHಢ
GLDQWHVDOLGDVGHDLUHUHJXODEOHV
* SDUDORVSLHV\HOSDUDEULVDV
$MXVWHHOIOXMRGHDLUHJLUDQGRHO
PDQGRDODYHORFLGDGGHVHDGD!
VLJQLILFDHOYHQWLODGRUDSDJDGR
3XOVH$
$&SDUDFRQHFWDUODUHIULJHUDಢ
FLäQ/DDFWLYDFLäQVHLQGLFDPHಢ
GLDQWHHO/('GHOERWäQ/DUHIULJHUDಢ
FLäQVäORIXQFLRQDFRQHOPRWRUHQ
PDUFKD\HOYHQWLODGRUGHFOLPDWL]Dಢ
FLäQFRQHFWDGR
3XOVH$
$&GHQXHYRSDUDGHVFRQHFಢ
WDUODUHIULJHUDFLäQ
(OVLVWHPDGHODLUHDFRQGLFLRQDGR
HQIUÞD\GHVKXPHGHFHVHFDHODLUH
GHOKDELWÒFXORVHJëQVHDQHFHVDULR
3RUHVRVHSXHGHFRQGHQVDUDJXD
TXHVDOHSRUGHEDMRGHOYHKÞFXOR
6HSXHGHQFRPELQDUORVDMXVWHV
/DFRQILJXUDFLäQVHLQGLFDPHGLDQWH
HO/('GHOERWäQ
&OLPDWL]DFLäQ
6LQRHVQHFHVDULRUHIULJHUDURGHVಢ
KXPLGLILFDUHODLUHGHVFRQHFWHHOVLVಢ
WHPDGHUHIULJHUDFLäQSRUUD]RQHVGH
DKRUURGHFRPEXVWLEOH/DUHIULJHUDಢ
FLäQDFWLYDGDSRGUÞDLQKLELUODVSDUDಢ
GDVDXWRPÒWLFDV
6LVWHPDVWRSVWDUW
ထ
'HVHPSDâDGR\GHVFRQJHODFLäQ
GHORVFULVWDOHV5
1RWD
6LVHSXOVD5FRQHOPRWRUHQPDUಢ
FKDVHDQXODUÒODSDUDGDDXWRPÒಢ
WLFD$XWRVWRSKDVWDTXHVHYXHOYD
DSXOVDU5
6LVHSXOVD5PLHQWUDVHOPRWRU
HVWÒHQXQDSDUDGDDXWRPÒWLFD$Xಢ
WRVWRSVHYROYHUÒDDUUDQFDUHOPRಢ
WRUDXWRPÒWLFDPHQWH
ထ
ထ
$MXVWHHOPDQGRGHODWHPSHUDಢ
WXUD7
7(03HQHOQLYHOPÒVFÒOLGR
&RQHFWHODOXQHWDWÚUPLFDWUDಢ
VHUD^
$EUDODVVDOLGDVGHDLUHVHJëQ
VHDQHFHVDULR\RULÚQWHODVKDFLD
ODVYHQWDQLOODV
6LVWHPDVWRSVWDUW
5HIULJHUDFLäQPÒ[LPD
ထ
3XOVH5HOYHQWLODGRUVHFRಢ
QHFWDDXWRPÒWLFDPHQWHDXQDYHಢ
ORFLGDGPÒVDOWDODGLVWULEXFLäQ
GHDLUHVHRULHQWDKDFLDHOSDUDಢ
EULVDV
$EUDEUHYHPHQWHODVYHQWDQLOODVSDUD
TXHHODLUHFDOLHQWHVDOJDUÒSLGDಢ
PHQWH
ထ &RQHFWDUODUHIULJHUDFLäQ$
$$
ထ 3XOVH,SDUDODGLVWULEXFLäQGHO
DLUH
ထ $MXVWHHOPDQGRGHODWHPSHUDಢ
WXUD7
7(03HQHOQLYHOPÒVIUÞR
ထ
ထ
$MXVWHHOUHJXODGRUGHODYHORFLಢ
GDGGHOYHQWLODGRUDOPÒ[LPR
$EUDWRGDVODVVDOLGDV
6LVWHPDGHUHFLUFXODFLäQGH
DLUH
3XOVHSDUDDFWLYDUHOPRGRGHUHಢ
FLUFXODFLäQGHDLUH/DDFWLYDFLäQVH
LQGLFDPHGLDQWHHO/('GHOERWäQ
6HOHFFLRQH5HFLUFXODFLäQGHODLUH
SDUDUHIULJHUDUHOLQWHULRUREORTXHDU
ORVRORUHVH[WHULRUHVRGHHVFDSH
&XDQGRVHKDVHOHFFLRQDGRODUHFLUಢ
FXODFLäQFDGDPLQXWRVKDEUÒXQD
YHQWLODFLäQSDUFLDOSDUDUHIUHVFDUHO
DLUHLQWHULRU
3XOVHGHQXHYRSDUDGHVDFWLYDU
HOPRGRGHUHFLUFXODFLäQGHDLUH
(QFRQGLFLRQHVGHFDORU\HOHYDGDKXಢ
PHGDGUHODWLYDHOSDUDEULVDVSRGUÞD
HPSDâDUVHSRUIXHUDDOHQWUDUHQFRQಢ
WDFWRFRQDLUHIUÞR6LHOSDUDEULVDVVH
HPSDâDSRUIXHUDDFWLYHORVOLPSLDಢ
SDUDEULVDV\GHVDFWLYHD
'LVWULEXFLäQGHDLUHHQDVHGHVDFಢ
WLYDODUHFLUFXODFLäQGHDLUH
&OLPDWL]DFLäQ
&OLPDWL]DGRUDXWRPÒWLFR
(QPRGRDXWRPÒWLFRODWHPSHUDWXUD
ODYHORFLGDGGHOYHQWLODGRU\ODGLVWULಢ
EXFLäQGHODLUHVHUHJXODQDXWRPÒWLಢ
FDPHQWH
ထ
ထ
GHVHPSDâDGR\GHVFRQJHODFLäQ
5
HQFHQGLGRDSDJDGRGHOVLVWHPD
;
/XQHWDWÚUPLFDWUDVHUD^
$VLHQWRVGHODQWHURVFDOHIDFWDGRVd
$VLHQWRVGHODQWHURVYHQWLODGRV
9RODQWHWÚUPLFR
,QGLFDFLäQ
0DQGR\ERWRQHVSDUDODVVLJXLHQWHV
IXQFLRQHV
ထ WHPSHUDWXUD7
7(03
ထ GLVWULEXFLäQGHDLUHD,*
ထ YHORFLGDGGHOYHQWLODGRU
ထ PRGRDXWRPÒWLFR$
$872
ထ UHIULJHUDFLäQ$
$&
ထ UHFLUFXODFLäQGHDLUH
/RVDMXVWHVGHWHPSHUDWXUD\YHORFLಢ
GDGGHOYHQWLODGRUVHLQGLFDQHQOD
SDQWDOODGHFOLPDWL]DFLäQ
&DGDFDPELRGHDMXVWHVHPXHVWUD
EUHYHPHQWHHQODSDQWDOODGHLQIRUಢ
PDFLäQ
(OFOLPDWL]DGRUDXWRPÒWLFRHOHFWUäಢ
QLFRVäORIXQFLRQDSOHQDPHQWHFRQHO
PRWRUHQPDUFKD
/RVDMXVWHVGHOFOLPDWL]DGRUDXWRPÒಢ
WLFRVHJXDUGDQHQODOODYHXVDGDSDUD
EORTXHDUHOYHKÞFXOR
0RGRDXWRPÒWLFR$872
&OLPDWL]DFLäQ
$MXVWHEÒVLFRSDUDHOPÒ[LPRFRQIRUW
ထ 3XOVH$
$872ODGLVWULEXFLäQGH
DLUH\ODYHORFLGDGGHOYHQWLODGRU
VHUHJXODQDXWRPÒWLFDPHQWH(O
/('GHOERWäQVHLOXPLQDSDUD
LQGLFDUVXDFWLYDFLäQ
ထ 3XOVH$
$&SDUDDFWLYDUXQDUHIULಢ
JHUDFLäQ\XQGHVHPSDâDGRäSಢ
WLPRV(O/('GHOERWäQVHLOXಢ
PLQDSDUDLQGLFDUVXDFWLYDFLäQ
ထ $MXVWHODWHPSHUDWXUDJLUDQGRHO
PDQGR7
7(03(ODMXVWHGHFRQಢ
IRUWUHFRPHQGDGRHVGH¡&
ထ $EUDWRGDVODVVDOLGDVGHDLUH
SDUDSHUPLWLUXQDGLVWULEXFLäQGH
DLUHäSWLPDHQPRGRDXWRPÒWLFR
(ODMXVWHGHUHJXODFLäQGHODYHORFLಢ
GDGGHOYHQWLODGRUHQPRGRDXWRPÒಢ
WLFRVHSXHGHFDPELDUHQHOPHQëGH
SHUVRQDOL]DFLäQGHOYHKÞFXORHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
3UHVHOHFFLäQGHODWHPSHUDWXUD
7(03
1RWD
6LVHDFWLYD$
$&ODUHGXFFLäQGHOD
WHPSHUDWXUDGHDMXVWHGHODFDELQD
SXHGHKDFHUTXHHOPRWRUYXHOYDD
DUUDQFDUGHVGHSDUDGDDXWRPÒWLFDR
TXHVHLQKLEDXQDSDUDGDDXWRPÒಢ
WLFD
6LVWHPDVWRSVWDUW
$MXVWHODWHPSHUDWXUDJLUDQGRHO
PDQGR7
7(03DOYDORUGHVHDGR
/DWHPSHUDWXUDVHOHFFLRQDGDVHLQಢ
GLFDHQODSDQWDOODGHFOLPDWL]DFLäQ
6LVHDMXVWDODWHPSHUDWXUDPÞQLPD
/RHOFOLPDWL]DGRUDXWRPÒWLFRIXQಢ
FLRQDDODPÒ[LPDSRWHQFLDGHUHIULಢ
JHUDFLäQVLHPSUHTXHVHFRQHFWHOD
UHIULJHUDFLäQ$
$&
6LVHDMXVWDODWHPSHUDWXUDPÒ[LPD
+LHOFOLPDWL]DGRUDXWRPÒWLFRIXQಢ
FLRQDDODPÒ[LPDSRWHQFLDGHFDOHಢ
IDFFLäQ
&OLPDWL]DFLäQ
'HVHPSDâDGR\GHVFRQJHODFLäQ
GHORVFULVWDOHV5
ထ
ထ
ထ
ထ
3XOVH5(O/('GHOERWäQVH
LOXPLQDSDUDLQGLFDUVXDFWLYDಢ
FLäQ
/DWHPSHUDWXUD\ODGLVWULEXFLäQ
GHODLUHVHUHJXODQDXWRPÒWLFDಢ
PHQWHHOYHQWLODGRUIXQFLRQDD
YHORFLGDGDOWD
&RQHFWHODOXQHWDWÚUPLFDWUDಢ
VHUD^
3DUDYROYHUDOPRGRDQWHULRU
SXOVH53DUDYROYHUDOPRGR
DXWRPÒWLFRSXOVH$
$872
(ODMXVWHGHODFDOHIDFFLäQDXWRPÒWLFD
GHODOXQHWDWUDVHUDVHSXHGHPRGLILಢ
FDUHQHOPHQëGHSHUVRQDOL]DFLäQGHO
YHKÞFXORHQODSDQWDOODGHLQIRUPDFLäQ
GHOFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$MXVWHVPDQXDOHV
/RVDMXVWHVGHOVLVWHPDGHFOLPDWL]Dಢ
FLäQVHSXHGHQDGDSWDUPDQXDOಢ
PHQWHFRQORVERWRQHVGHGLVWULEXFLäQ
GHODLUH\HOPDQGRGHYHORFLGDGGHO
YHQWLODGRUFRQIRUPHDORVLJXLHQWH(O
FDPELRPDQXDOGHORVDMXVWHVGHVDFಢ
WLYDUÒHOPRGRDXWRPÒWLFR
9HORFLGDGGHOYHQWLODGRU
1RWD
6LVHSXOVD5FRQHOPRWRUHQPDUಢ
FKDVHDQXODUÒODSDUDGDDXWRPÒಢ
WLFD$XWRVWRSKDVWDTXHVHYXHOYD
DSXOVDU5
6LVHSXOVD5PLHQWUDVHOPRWRU
HVWÒHQXQDSDUDGDDXWRPÒWLFD$Xಢ
WRVWRSVHYROYHUÒDDUUDQFDUHOPRಢ
WRUDXWRPÒWLFDPHQWH
6LVWHPDVWRSVWDUW
0DQGRGHJLUR/DYHORFLGDGGHO
YHQWLODGRUVHOHFFLRQDGDVHLQGLFDPHಢ
GLDQWHHOQëPHURGHVHJPHQWRVHQOD
SDQWDOODGHOFOLPDWL]DGRU
6LVHGHVFRQHFWDHOYHQWLODGRUHODLUH
DFRQGLFLRQDGRWDPELÚQVHGHVDFWLYD
&OLPDWL]DFLäQ
3DUDYROYHUDOPRGRDXWRPÒWLFR
3XOVH$
$872
5HIULJHUDFLäQ$&
'LVWULEXFLäQGHDLUHD,*
6LQRHVQHFHVDULRUHIULJHUDURGHVಢ
KXPLGLILFDUHODLUHGHVFRQHFWHHOVLVಢ
WHPDGHUHIULJHUDFLäQSRUUD]RQHVGH
DKRUURGHFRPEXVWLEOH
(QFHQGLGR$SDJDGRGHO
VLVWHPD;
3XOVHHOERWäQDSURSLDGRSDUDHO
DMXVWHGHVHDGR(O/('GHOERWäQVH
LOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
D KDFLDHOSDUDEULVDV\ODVYHQWDಢ
QLOODVGHODQWHUDV
, KDFLDOD]RQDGHODFDEH]DPHಢ
GLDQWHVDOLGDVGHDLUHUHJXODEOHV
* SDUDORVSLHV\HOSDUDEULVDV
6HSXHGHQFRPELQDUORVDMXVWHV
9XHOWDDODGLVWULEXFLäQGHDLUHDXWRಢ
PÒWLFDSXOVH$
$872
3XOVH$
$&SDUDDFWLYDUODUHIULJHUDಢ
FLäQ(O/('GHOERWäQVHLOXPLQDSDUD
LQGLFDUVXDFWLYDFLäQ/DUHIULJHUDFLäQ
VäORIXQFLRQDFRQHOPRWRUHQPDUFKD
\HOYHQWLODGRUGHFOLPDWL]DFLäQFRಢ
QHFWDGR
3XOVHGHQXHYR$
$&SDUDGHVFRQHFಢ
WDUODUHIULJHUDFLäQ
(OVLVWHPDGHODLUHDFRQGLFLRQDGR
HQIUÞD\GHVKXPHGHFHVHFDHODLUH
GHOKDELWÒFXORVHJëQVHDQHFHVDULR
3RUHVRVHSXHGHFRQGHQVDUDJXD
TXHVDOHSRUGHEDMRGHOYHKÞFXOR
6HSXHGHQGHVFRQHFWDUODUHIULJHUDಢ
FLäQHOYHQWLODGRU\HOPRGRDXWRPÒಢ
WLFRSXOVDQGR;&XDQGRHOVLVWHPD
VHGHVDFWLYDHO/('GHOERWäQ;VH
DSDJD
$FWLYHSXOVDQGR;RHOERWäQGHUHಢ
IULJHUDFLäQ$
$&RHOERWäQGHPRGR
DXWRPÒWLFR$
$872(O/('GHOERWäQ
VHLOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
&OLPDWL]DFLäQ
5HFLUFXODFLäQGHDLUHPDQXDO
DLUHIUÞR6LHOSDUDEULVDVVHHPSDâD
SRUIXHUDDFWLYHORVOLPSLDSDUDEULVDV
\GHVDFWLYHD
$MXVWHVEÒVLFRV
3XOVHSDUDDFWLYDUHOPRGRGHUHಢ
FLUFXODFLäQGHDLUH(O/('GHOERWäQ
VHLOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
6HOHFFLRQHODUHFLUFXODFLäQGHDLUH
SDUDUHIULJHUDUHOLQWHULRUREORTXHDU
ORVRORUHVH[WHULRUHVRGHHVFDSH
&XDQGRVHKDVHOHFFLRQDGRODUHFLUಢ
FXODFLäQFDGDPLQXWRVKDEUÒXQD
YHQWLODFLäQSDUFLDOSDUDUHIUHVFDUHO
DLUHLQWHULRU
3XOVHGHQXHYRSDUDGHVDFWLYDU
HOPRGRGHUHFLUFXODFLäQGHDLUH
(QFRQGLFLRQHVGHFDORU\HOHYDGDKXಢ
PHGDGUHODWLYDHOSDUDEULVDVSXHGH
HPSDâDUVHSRUIXHUDHQFRQWDFWRFRQ
$OJXQRVDMXVWHVEÒVLFRVVHSXHGHQ
PRGLILFDUHQHOPHQë3HUVRQDOL]DFLäQ
GHOYHKÞFXORHQODSDQWDOODGHLQIRUಢ
PDFLäQHQFRORU
6HOHFFLRQHORVDMXVWHVFRUUHVSRQಢ
GLHQWHVHQ$
$MXVWHV 9
9HKÞFXORHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
6LVWHPDGHFOLPDWL]DFLäQ
GXDO
/DFOLPDWL]DFLäQDXWRPÒWLFDGXDOSHUಢ
PLWHUHJXODUGLIHUHQWHVWHPSHUDWXUDV
GHFOLPDWL]DFLäQSDUDHOFRQGXFWRU\
HODFRPSDâDQWH
(QPRGRDXWRPÒWLFRODWHPSHUDWXUD
ODYHORFLGDGGHOYHQWLODGRU\ODGLVWULಢ
EXFLäQGHODLUHVHUHJXODQDXWRPÒWLಢ
FDPHQWH
3DQHOHV\ERWRQHVSDUDODVVLJXLHQಢ
WHVIXQFLRQHV
ထ WHPSHUDWXUD56
ထ GLVWULEXFLäQGHDLUHD,*
ထ YHORFLGDGGHOYHQWLODGRU56
$872
ထ PRGRDXWRPÒWLFR$
ထ UHIULJHUDFLäQ$
$&
ထ UHFLUFXODFLäQGHDLUH
ထ GHVHPSDâDGR\GHVFRQJHODFLäQ
5
ထ HQFHQGLGRDSDJDGRGHOVLVWHPD
;
ထ VLQFURQL]DFLäQGHODWHPSHUDWXUD
GHOD]RQDGXDO6
6<1&
&OLPDWL]DFLäQ
/XQHWDWÚUPLFDWUDVHUD^
$VLHQWRVGHODQWHURVFDOHIDFWDGRVd
$VLHQWRVGHODQWHURVYHQWLODGRV
9RODQWHWÚUPLFR
,QGLFDFLäQ
(ODMXVWHGHWHPSHUDWXUDVHLQGLFDGH
PDQHUDLQGHSHQGLHQWHHQORVSDQHOHV
SDUDHOODGRGHOFRQGXFWRU\GHODFRPಢ
SDâDQWH
&DGDFDPELRGHDMXVWHVVHPXHVWUD
HQODSDQWDOODGHLQIRUPDFLäQGXUDQWH
XQRVVHJXQGRV
(OFOLPDWL]DGRUDXWRPÒWLFRGXDOVRODಢ
PHQWHIXQFLRQDSOHQDPHQWHFRQHO
PRWRUHQPDUFKD
/RVDMXVWHVGHOFOLPDWL]DGRUDXWRPÒಢ
WLFRVHJXDUGDQHQODOODYHXVDGDSDUD
EORTXHDUHOYHKÞFXOR
0RGRDXWRPÒWLFR$872
$MXVWHEÒVLFRSDUDHOPÒ[LPRFRQIRUW
ထ 3XOVH$
$872ODGLVWULEXFLäQGH
DLUH\ODYHORFLGDGGHOYHQWLODGRU
VHUHJXODQDXWRPÒWLFDPHQWH(O
/('GHOERWäQVHLOXPLQDSDUDLQಢ
GLFDUVXDFWLYDFLäQ
ထ
3XOVH$
$&SDUDDFWLYDUXQDUHIULಢ
JHUDFLäQ\XQGHVHPSDâDGRäSಢ
WLPRV(O/('GHOERWäQVHLOXಢ
PLQDSDUDLQGLFDUVXDFWLYDFLäQ
ထ $MXVWHGHWHPSHUDWXUDGDQGRXQ
WRTXHD5R6HQHOODGRGHOFRQಢ
GXFWRU(ODMXVWHGHFRQIRUWUHFRಢ
PHQGDGRHVGH¡&/DWHPSHಢ
UDWXUDVHSXHGHDMXVWDUGHPDಢ
QHUDGLIHUHQWHSDUDHOFRQGXFWRU
\DFRPSDâDQWH7RTXH5R6HQ
HOODGRGHODFRPSDâDQWHSDUD
SHUPLWLUGLIHUHQWHV]RQDVGHWHPಢ
SHUDWXUD
ထ $EUDWRGDVODVVDOLGDVGHDLUH
SDUDSHUPLWLUXQDGLVWULEXFLäQGH
DLUHäSWLPDHQPRGRDXWRPÒWLFR
(ODMXVWHGHUHJXODFLäQGHODYHORFLಢ
GDGGHOYHQWLODGRUHQPRGRDXWRPÒಢ
WLFRVHSXHGHFDPELDUHQHOPHQëGH
SHUVRQDOL]DFLäQGHOYHKÞFXORHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
&OLPDWL]DFLäQ
3UHVHOHFFLäQGHOD
WHPSHUDWXUD65
$MXVWHODWHPSHUDWXUDGHVHDGDWRಢ
FDQGR5SDUDWHPSHUDWXUDVPÒVDOಢ
WDVR6SDUDWHPSHUDWXUDVPÒVEDMDV
/DWHPSHUDWXUDVHOHFFLRQDGDVHLQಢ
GLFDHQORVSDQHOHV&RQHOSDQHOODಢ
WHUDOGHOFRQGXFWRUVHFDPELDODWHPಢ
SHUDWXUDHQORVGRVODGRVDOVHOHFಢ
FLRQDU6
6<1&PLHQWUDVTXHFRQHO
SDQHOGHOODGRGHOFRQGXFWRUVHFDPಢ
ELDVRODPHQWHODWHPSHUDWXUDGHOODGR
GHODFRPSDâDQWH\DSDJD6
6<1&VL
VHKDVHOHFFLRQDGRSUHYLDPHQWH
6LVHDMXVWDODWHPSHUDWXUDPÞQLPD
/RHOFOLPDWL]DGRUDXWRPÒWLFRIXQಢ
FLRQDDODPÒ[LPDSRWHQFLDGHUHIULಢ
JHUDFLäQVLHPSUHTXHVHFRQHFWHOD
UHIULJHUDFLäQ$
$&
6LVHDMXVWDODWHPSHUDWXUDPÒ[LPD
+LHOFOLPDWL]DGRUDXWRPÒWLFRIXQಢ
FLRQDDODPÒ[LPDSRWHQFLDGHFDOHಢ
IDFFLäQ
1RWD
6LVHDFWLYD$
$&ODUHGXFFLäQGHOD
WHPSHUDWXUDGHDMXVWHGHODFDELQD
SXHGHKDFHUTXHHOPRWRUYXHOYDD
DUUDQFDUGHVGHSDUDGDDXWRPÒWLFDR
TXHVHLQKLEDXQDSDUDGDDXWRPÒಢ
WLFD
'HVHPSDâDGR\GHVFRQJHODFLäQ
GHORVFULVWDOHV5
ထ
6LVWHPDVWRSVWDUW
6LQFURQL]DFLäQGHODWHPSHUDWXUD
GHOD]RQDGXDO6<1&
3XOVH6
6<1&SDUDYLQFXODUHODMXVWH
GHODWHPSHUDWXUDGHOODGRGHODFRPಢ
SDâDQWHDODGHOFRQGXFWRU(O/('
GHOERWäQVHLOXPLQDSDUDLQGLFDUVX
DFWLYDFLäQ
&XDQGRORVDMXVWHVGHOODGRGHO
DFRPSDâDQWHTXHGHQFRQILJXUDGRV
HO/('VHDSDJD
ထ
ထ
ထ
3XOVH5(O/('GHOERWäQVH
LOXPLQDSDUDLQGLFDUVXDFWLYDಢ
FLäQ
/DWHPSHUDWXUD\ODGLVWULEXFLäQ
GHODLUHVHUHJXODQDXWRPÒWLFDಢ
PHQWHHOYHQWLODGRUIXQFLRQDD
YHORFLGDGDOWD
&RQHFWHODOXQHWDWÚUPLFDWUDಢ
VHUD^
3DUDYROYHUDOPRGRDQWHULRU
SXOVH53DUDYROYHUDOPRGR
DXWRPÒWLFRSXOVH$
$872
&OLPDWL]DFLäQ
(ODMXVWHGHODFDOHIDFFLäQDXWRPÒWLFD
GHODOXQHWDWUDVHUDEDVÒQGRVHHQ
ODVWHPSHUDWXUDVIUÞDVGHOH[WHULRUVH
SXHGHPRGLILFDUHQHOPHQë3HUVRಢ
QDOL]DFLäQGHOYHKÞFXORHQODSDQWDOOD
GHLQIRUPDFLäQGHOFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$MXVWHVPDQXDOHV
/RVDMXVWHVGHOVLVWHPDGHFOLPDWL]Dಢ
FLäQVHSXHGHQDGDSWDUPDQXDOಢ
PHQWHFRQORVERWRQHVGHGLVWULEXFLäQ
GHODLUH\HOPDQGRGHYHORFLGDGGHO
YHQWLODGRUFRQIRUPHDORVLJXLHQWH(O
FDPELRPDQXDOGHORVDMXVWHVGHVDFಢ
WLYDUÒHOPRGRDXWRPÒWLFR
'LVWULEXFLäQGHDLUHD,*
9HORFLGDGGHOYHQWLODGRU65
1RWD
6LVHSXOVD5FRQHOPRWRUHQPDUಢ
FKDVHDQXODUÒODSDUDGDDXWRPÒಢ
WLFD$XWRVWRSKDVWDTXHVHYXHOYD
DSXOVDU5
6LVHSXOVD5PLHQWUDVHOPRWRU
HVWÒHQXQDSDUDGDDXWRPÒWLFD$Xಢ
WRVWRSVHYROYHUÒDDUUDQFDUHOPRಢ
WRUDXWRPÒWLFDPHQWH
6LVWHPDVWRSVWDUW
3DUDYROYHUDOPRGRDXWRPÒWLFR
3XOVH$
$872
7RTXH6R5/DYHORFLGDGGHOYHQಢ
WLODGRUVHOHFFLRQDGDVHLQGLFDEUHYHಢ
PHQWHHQODSDQWDOODGHLQIRUPDFLäQ
6LVHGHVFRQHFWDHOYHQWLODGRUHODLUH
DFRQGLFLRQDGRWDPELÚQVHGHVDFWLYD
3XOVHHOERWäQDSURSLDGRSDUDHO
DMXVWHGHVHDGR(O/('GHOERWäQVH
LOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
D KDFLDHOSDUDEULVDV\ODVYHQWDಢ
QLOODVGHODQWHUDV
, KDFLDOD]RQDGHODFDEH]DPHಢ
GLDQWHVDOLGDVGHDLUHUHJXODEOHV
* SDUDORVSLHV\HOSDUDEULVDV
6HSXHGHQFRPELQDUORVDMXVWHV
9XHOWDDODGLVWULEXFLäQGHDLUHDXWRಢ
PÒWLFDSXOVH$
$872
&OLPDWL]DFLäQ
5HIULJHUDFLäQ$&
6LQRHVQHFHVDULRUHIULJHUDURGHVಢ
KXPLGLILFDUHODLUHGHVFRQHFWHHOVLVಢ
WHPDGHUHIULJHUDFLäQSRUUD]RQHVGH
DKRUURGHFRPEXVWLEOH
5HFLUFXODFLäQGHDLUHPDQXDO
(QFHQGLGR$SDJDGRGHO
VLVWHPD;
3XOVH$
$&SDUDDFWLYDUODUHIULJHUDಢ
FLäQ(O/('GHOERWäQVHLOXPLQDSDUD
LQGLFDUVXDFWLYDFLäQ/DUHIULJHUDFLäQ
VäORIXQFLRQDFRQHOPRWRUHQPDUFKD
\HOYHQWLODGRUGHFOLPDWL]DFLäQFRಢ
QHFWDGR
3XOVHGHQXHYR$
$&SDUDGHVFRQHFಢ
WDUODUHIULJHUDFLäQ
(OVLVWHPDGHODLUHDFRQGLFLRQDGR
HQIUÞD\GHVKXPHGHFHVHFDHODLUH
GHOKDELWÒFXORVHJëQVHDQHFHVDULR
3RUHVRVHSXHGHFRQGHQVDUDJXD
TXHVDOHSRUGHEDMRGHOYHKÞFXOR
6HSXHGHQGHVFRQHFWDUODUHIULJHUDಢ
FLäQHOYHQWLODGRU\HOPRGRDXWRPÒಢ
WLFRSXOVDQGR;&XDQGRVHGHVDFಢ
WLYDHOVLVWHPDHO/('VHDSDJDHQHO
ERWäQ;
$FWLYHSXOVDQGR;RHOERWäQGHUHಢ
IULJHUDFLäQ$
$&RHOERWäQGHPRGR
DXWRPÒWLFR$
$872(O/('GHOERWäQ
VHLOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
3XOVHSDUDDFWLYDUHOPRGRGHUHಢ
FLUFXODFLäQGHDLUH(O/('GHOERWäQ
VHLOXPLQDSDUDLQGLFDUVXDFWLYDFLäQ
6HOHFFLRQHODUHFLUFXODFLäQGHDLUH
SDUDUHIULJHUDUHOLQWHULRUREORTXHDU
ORVRORUHVH[WHULRUHVRGHHVFDSH
&XDQGRVHKDVHOHFFLRQDGRODUHFLUಢ
FXODFLäQFDGDPLQXWRVKDEUÒXQD
YHQWLODFLäQSDUFLDOSDUDUHIUHVFDUHO
DLUHLQWHULRU
3XOVHGHQXHYRSDUDGHVDFWLYDU
HOPRGRGHUHFLUFXODFLäQGHDLUH
(QFRQGLFLRQHVGHFDORU\HOHYDGDKXಢ
PHGDGUHODWLYDHOSDUDEULVDVSXHGH
HPSDâDUVHSRUIXHUDHQFRQWDFWRFRQ
&OLPDWL]DFLäQ
DLUHIUÞR6LHOH[WHULRUGHOSDUDEULVDV
VHHPSDâDDFWLYHHOOLPSLDSDUDEULVDV
\GHVDFWLYHD
5HFLUFXODFLäQGHDLUHDXWRPÒWLFD
8QVHQVRUGHKXPHGDGGHODLUHFDPಢ
ELDDXWRPÒWLFDPHQWHHOVLVWHPDDO
DLUHH[WHUQRVLODKXPHGDGGHODLUHGHO
LQWHULRUHVGHPDVLDGRDOWD
&DOHIDFWRUDX[LOLDU
6DOLGDVGHDLUH
&DOHIDFWRUGHDLUH
6DOLGDVGHDLUHUHJXODEOHV
(OVLVWHPD4XLFNKHDWHVXQFDOHIDFWRU
HOÚFWULFRDX[LOLDUTXHFDOLHQWDDXWRಢ
PÒWLFDPHQWHHODLUHGHOKDELWÒFXOR
FRQPD\RUUDSLGH]
5HMLOODVGHDLUHGHODQWHUDV
$MXVWHVEÒVLFRV
$OJXQRVDMXVWHVEÒVLFRVVHSXHGHQ
PRGLILFDUHQHOPHQë3HUVRQDOL]DFLäQ
GHOYHKÞFXORHQODSDQWDOODGHLQIRUಢ
PDFLäQHQFRORU
6HOHFFLRQHORVDMXVWHVFRUUHVSRQಢ
GLHQWHVHQ$
$MXVWHV 9
9HKÞFXORHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
3DUDDEULUODVDOLGDJLUHODUXHGDGH
DMXVWHD$MXVWHHOFDXGDOGHDLUHGH
ODVDOLGDGHYHQWLODFLäQJLUDQGROD
UXHGDGHDMXVWH
&OLPDWL]DFLäQ
6DOLGDVGHDLUHWUDVHUDV
6DOLGDVGHDLUHILMDV
+D\VDOLGDVGHDLUHDGLFLRQDOHVSRU
GHEDMRGHOSDUDEULVDVGHODVYHQWDಢ
QLOODV\HQODV]RQDVGHORVSLHV
'LULMDHOIOXMRGHDLUHLQFOLQDQGR\EDVಢ
FXODQGRODVDOHWDV
/DVUHMLOODVGHDLUHSDUDORVDFRPSDಢ
âDQWHVGHODSDUWHWUDVHUDHVWÒQHQOD
FRQVRODFHQWUDOHQWUHORVDVLHQWRV
GHODQWHURV
$GYHUWHQFLD
1RILMHREMHWRVDODVDOHWDVGHODV
VDOLGDVGHDLUH+D\ULHVJRGHOHಢ
VLRQHV\GDâRVHQFDVRGHDFFLಢ
GHQWH
3DUDFHUUDUODVDOLGDJLUHODUXHGDGH
DMXVWHD
&OLPDWL]DFLäQ
0DQWHQLPLHQWR
(QWUDGDGHDLUH
)LOWURGHFDUEäQDFWLYR
ထ
$GHPÒVGHOILOWURGHSDUWÞFXODVHOILOಢ
WURGHFDUEäQDFWLYRUHGXFHORVRORಢ
UHV
ထ
)XQFLRQDPLHQWRUHJXODUGHO
DLUHDFRQGLFLRQDGR
3DUDJDUDQWL]DUXQIXQFLRQDPLHQWR
HILFLHQWH\GXUDGHURGHOVLVWHPDVH
UHFRPLHQGDDFWLYDUHODLUHDFRQGLFLRಢ
QDGRGXUDQWHXQRVPLQXWRVXQDYH]
DOPHVLQGHSHQGLHQWHPHQWHGHODV
FRQGLFLRQHVFOLPDWROäJLFDV\GHOD
ÚSRFDGHODâR
/DHQWUDGDGHDLUHHQHOFRPSDUWLಢ
PHQWRGHOPRWRUGHODQWHGHOSDUDEULಢ
VDVGHEHHVWDUOLEUHSDUDSHUPLWLUOD
HQWUDGDGHDLUH5HWLUHFXDOTXLHUUHVWR
GHKRMDVVXFLHGDGRQLHYH
)LOWURGHSROHQ
)LOWUDGRGHODLUHGHOKDELWÒFXOR
8QILOWURGHSDUWÞFXODVHOLPLQDHODLUH
GHOKDELWÒFXORGHSROYRKROOÞQSROHQ
\HVSRUDV
6HUYLFLR
3DUDJDUDQWL]DUXQDSRWHQFLDGHUHIULಢ
JHUDFLäQäSWLPDOHUHFRPHQGDPRV
UHYLVDUDQXDOPHQWHHOFOLPDWL]DGRU
DXWRPÒWLFRODSULPHUDUHYLVLäQGHEH
UHDOL]DUVHDORVWUHVDâRVGHODSULಢ
PHUDPDWULFXODFLäQ\GHEHLQFOXLU
ထ SUXHEDGHIXQFLRQDPLHQWR\SUHಢ
VLäQ
ထ IXQFLRQDPLHQWRGHODFDOHIDFFLäQ
ထ SUXHEDGHHVWDQTXHLGDG
ထ
FRPSUREDFLäQGHODVFRUUHDVGH
WUDQVPLVLäQ
OLPSLH]DGHOFRQGHQVDGRU\GHO
GHVDJíHGHOHYDSRUDGRU
SUXHEDGHUHQGLPLHQWR
&RQGXFFLäQ\PDQHMR
&RQGXFFLäQ\
PDQHMR
5HFRPHQGDFLRQHVSDUDODFRQಢ
GXFFLäQ &RQWUROGHOYHKÞFXOR 0DQHMRGHOYRODQWH $UUDQTXH\PDQHMR 5RGDMHGHXQYHKÞFXORQXHYR 3RVLFLRQHVGHODFHUUDGXUDGHO
HQFHQGLGR %RWäQGHHQFHQGLGR $OLPHQWDFLäQHOÚFWULFDGH
UHVHUYD $UUDQTXHGHOPRWRU &RUWHGHFRPEXVWLEOHHQ
UÚJLPHQGHUHWHQFLäQ 6LVWHPDVWRSVWDUW (VWDFLRQDPLHQWR 6LVWHPDGHHVFDSHGHOPRWRU )LOWURGHSDUWÞFXODVGLÚVHO &DWDOL]DGRU $G%OXH &DPELRDXWRPÒWLFR 3DQWDOODLQGLFDGRUDGHOFDPELR 3DODQFDVHOHFWRUD 0RGRPDQXDO 3URJUDPDVHOHFWUäQLFRVGH
PDUFKD $YHUÞD ,QWHUUXSFLäQGHFRUULHQWH &DPELRPDQXDO 6LVWHPDVGHWUDFFLäQ 7UDFFLäQWRWDO )UHQRV 6LVWHPDDQWLEORTXHRGHIUHQRV )UHQRGHHVWDFLRQDPLHQWR $VLVWHQWHGHIUHQDGD $VLVWHQWHGHDUUDQTXHHQ
SHQGLHQWHV 6LVWHPDVGHFRQWUROGHODFRQಢ
GXFFLäQ 6LVWHPDGHFRQWUROGHWUDFFLäQ &RQWUROHOHFWUäQLFRGH
HVWDELOLGDG 6LVWHPDGHFRQGXFFLäQ
LQWHUDFWLYD 6LVWHPDVGHD\XGDDODFRQGXFಢ
FLäQ 5HJXODGRUGHYHORFLGDG /LPLWDGRUGHYHORFLGDG &RQWUROGHYHORFLGDG
DGDSWDEOH $OHUWDGHFROLVLäQIURQWDO ,QGLFDFLäQGHGLVWDQFLDKDFLD
GHODQWH )UHQDGDGHHPHUJHQFLDDFWLYD $VLVWHQWHGHDSDUFDPLHQWR $OHUWDGHSXQWRFLHJRODWHUDO $OHUWDGHFDPELRGHFDUULO &ÒPDUDUHWURYLVRUD $OHUWDGHWUÒILFRSRUGHWUÒV $VLVWHQWHGHVHâDOHVGHWUÒILFR $YLVRGHFDPELRGHFDUULO &RPEXVWLEOH &RPEXVWLEOHSDUDPRWRUHVGH
JDVROLQD &RPEXVWLEOHSDUDPRWRUHV
GLÚVHO &RPEXVWLEOHSDUD
IXQFLRQDPLHQWRFRQJDV
OLFXDGR 5HSRVWDMH &RQVXPRGHFRPEXVWLEOH
HPLVLRQHVGH&2 (QJDQFKHGHOUHPROTXH ,QIRUPDFLäQJHQHUDO &DUDFWHUÞVWLFDVGHFRQGXFFLäQ\
UHFRPHQGDFLRQHVSDUDHOXVR
GHOUHPROTXH 8VRGHOUHPROTXH &RQGXFFLäQ\PDQHMR
'LVSRVLWLYRGHUHPROTXH $VLVWHQWHGHHVWDELOLGDGGHO
UHPROTXH 5HFRPHQGDFLRQHVSDUD
ODFRQGXFFLäQ
&RQWUROGHOYHKÞFXOR
1RGHMHTXHHOYHKÞFXORFLUFXOH
FRQHOPRWRUSDUDGRH[FHSWR
GXUDQWHXQDSDUDGDDXWRPÒWLFD
(QGLFKDVLWXDFLäQPXFKRVVLVWHPDV
QRIXQFLRQDQSRUHMHPSORHOVHUYRಢ
IUHQRODGLUHFFLäQDVLVWLGD&RQGXFLU
GHHVWHPRGRVXSRQHXQSHOLJURSDUD
XVWHG\SDUDORVGHPÒV7RGRVORV
VLVWHPDVIXQFLRQDQGXUDQWHXQDSDಢ
UDGDDXWRPÒWLFD$XWRVWRSSHURKDಢ
EUÒXQDUHGXFFLäQFRQWURODGDGHODGLಢ
UHFFLäQDVLVWLGD\ODYHORFLGDGGHOYHಢ
KÞFXORGLVPLQX\H
6LVWHPDVWRSVWDUW
3HGDOHV
3DUDDVHJXUDUXQOLEUHUHFRUULGRGHO
SHGDOQRGHEHKDEHUDOIRPEULOODVHQ
OD]RQDGHORVSHGDOHV
8WLOLFHVRODPHQWHDOIRPEULOODVGHO
VXHORTXHVHDMXVWHQFRUUHFWDPHQWH\
VHILMHQPHGLDQWHODVUHWHQFLRQHVHQ
HOODGRGHOFRQGXFWRU
0DQHMRGHOYRODQWH
6LODGLUHFFLäQDVLVWLGDVHSLHUGHSRUಢ
TXHVHSDUDHOPRWRURGHELGRDXQ
IDOORGHIXQFLRQDPLHQWRGHOVLVWHPD
HOYHKÞFXORVHSXHGHFRQGXFLUSHUR
UHTXLHUHXQHVIXHU]RDâDGLGR
7HVWLJRGHFRQWUROF
$WHQFLäQ
/RVYHKÞFXORVHTXLSDGRVFRQGLಢ
UHFFLäQKLGUÒXOLFD
6LVHJLUDHOYRODQWHKDVWDHOWRSH
GHOUHFRUULGR\VHPDQWLHQHHQGLಢ
FKDSRVLFLäQGXUDQWHPÒVGH
VHJXQGRVVHSXHGHQSURYRFDU
GDâRVHQHOVLVWHPDGHODGLUHFಢ
FLäQDVLVWLGD\SXHGHKDEHUXQD
SÚUGLGDGHSRWHQFLD
&RQGXFFLäQ\PDQHMR
$UUDQTXH\PDQHMR
PRGRGHSRWHQFLDGHFRQH[LäQ
GHOHQFHQGLGR(QFHQGLGRHVWÒ
FRQHFWDGRHOPRWRUGLÚVHOHVWÒ
SUHFDOHQWDQGR/RVWHVWLJRVGH
FRQWUROVHHQFLHQGHQ\ODPD\RUÞD
GHODVIXQFLRQHVHOÚFWULFDVHVWÒQ
RSHUDWLYDV
DUUDQTXHGHOPRWRU6XHOWHOD
OODYHGHVSXÚVGHFRPHQ]DUHO
SURFHVRGHODUUDQTXH
5RGDMHGHXQYHKÞFXOR
QXHYR
1RIUHQHLQQHFHVDULDPHQWHDIRQGR
GXUDQWHORVSULPHURVYLDMHV
$OFRQGXFLUHOYHKÞFXORSRUSULPHUD
YH]VHSXHGHIRUPDUKXPRSRUOD
HYDSRUDFLäQGHFHUD\DFHLWHHQHO
VLVWHPDGHHVFDSH(VWDFLRQHHOYHಢ
KÞFXORDODLUHOLEUHGXUDQWHXQWLHPSR
GHVSXÚVGHOSULPHUYLDMH\HYLWHLQKDಢ
ODUORVKXPRV
'XUDQWHHOSHULRGRGHURGDMHSXHGH
DXPHQWDUHOFRQVXPRGHFRPEXVWLEOH
\GHDFHLWHGHOPRWRUDVÞFRPRODIUHಢ
FXHQFLDGHOSURFHVRGHOLPSLH]DGHO
ILOWURGHSDUWÞFXODVGLÚVHO
)LOWURGHSDUWÞFXODVGLÚVHO
3RVLFLRQHVGHODFHUUDGXUD
GHOHQFHQGLGR
/ODYHGHJLUR
%ORTXHRGHOYRODQWH
HQFHQGLGRGHVFRQHFWDGR$OJXಢ
QDVIXQFLRQHVSHUPDQHFHQDFWLಢ
YDVKDVWDTXHODOODYHVHUHWLUDR
VHDEUHODSXHUWDGHOFRQGXFWRU
VLHPSUHTXHHOHQFHQGLGRKD\D
HVWDGRFRQHFWDGRSUHYLDPHQWH
PRGRGHDOLPHQWDFLäQGHDFFHಢ
VRULRV(OEORTXHRGHOYRODQWHVH
VXHOWD\DOJXQDVGHODVIXQFLRQHV
HOÚFWULFDVSXHGHQIXQFLRQDUFRQ
HOHQFHQGLGRGHVFRQHFWDGR
5HWLUHODOODYHGHOLQWHUUXSWRUGHHQಢ
FHQGLGR\JLUHHOYRODQWHKDVWDHQFODಢ
YDUOR
3HOLJUR
1RUHWLUHODOODYHGHOLQWHUUXSWRUGHO
HQFHQGLGRGXUDQWHODFRQGXFFLäQ
SRUTXHHVWRSXHGHSURYRFDUHO
EORTXHRGHOYRODQWH
&RQGXFFLäQ\PDQHMR
%RWäQGHHQFHQGLGR
HPEUDJXHRIUHQR(O/('YHUGHGHO
ERWäQVHLOXPLQDHOPRWRUGLÚVHOHVWÒ
SUHFDOHQWDQGR/RVWHVWLJRVGHFRQಢ
WUROVHHQFLHQGHQ\ODPD\RUÞDGHODV
IXQFLRQHVHOÚFWULFDVHVWÒQRSHUDWLಢ
YDV
$UUDQTXHGHOPRWRU
$FFLRQHHOSHGDOGHOHPEUDJXHFDPಢ
ELRPDQXDORSHGDOGHOIUHQRFDPELR
DXWRPÒWLFR\SXOVH
(QJLQH6WDUW6WRSXQDYH]PÒV
6XHOWHHOERWäQGHVSXÚVGHFRPHQ]DU
HOSURFHVRGHODUUDQTXH
/DOODYHHOHFWUäQLFDGHEHHVWDUHQHO
LQWHULRUGHOYHKÞFXOR
0RGRGHSRWHQFLDSDUDDFFHVRULRV
3XOVH(
(QJLQH6WDUW6WRSXQDYH]VLQ
DFFLRQDUHOSHGDOGHOHPEUDJXHR
IUHQR(O/('DPDULOORHQHOERWäQVH
LOXPLQD(OEORTXHRGHOYRODQWHVH
VXHOWD\DOJXQDVGHODVIXQFLRQHV
HOÚFWULFDVSXHGHQIXQFLRQDUFRQHO
HQFHQGLGRGHVFRQHFWDGR
0RGRGHSRWHQFLDGHFRQH[LäQGHO
HQFHQGLGR
0DQWHQJDSXOVDGR
(QJLQH6WDUW6WRSGXUDQWH
VHJXQGRVVLQDFFLRQDUHOSHGDOGH
(QFHQGLGRGHVFRQHFWDGR
3XOVH(
(QJLQH6WDUW6WRSEUHYHPHQWH
HQFDGDPRGRRFXDQGRHOPRWRUHVWÚ
HQPDUFKD\HOYHKÞFXORHVWDFLRQDULR
$OJXQDVIXQFLRQHVSHUPDQHFHQDFWLಢ
YDVKDVWDTXHVHDEUHODSXHUWDGHO
FRQGXFWRUVLHPSUHTXHHOHQFHQGLGR
KD\DHVWDGRFRQHFWDGRSUHYLDPHQWH
'HVFRQH[LäQGHHPHUJHQFLDGXUDQWH
ODFRQGXFFLäQ
3XOVH(
(QJLQH6WDUW6WRSGXUDQWHPÒV
GHVHJXQGRVRSXOVHGRVYHFHVEUHಢ
YHPHQWHDQWHVGHTXHWUDQVFXUUDQ
VHJXQGRV
%ORTXHRGHOYRODQWH
(OEORTXHRGHOYRODQWHVHDFWLYDDXಢ
WRPÒWLFDPHQWHFXDQGR
ထ (OYHKÞFXORHVWÒHVWDFLRQDULR
ထ (OHQFHQGLGRVHKDGHVFRQHFಢ
WDGR
ထ 6HDEUHODSXHUWDGHOFRQGXFWRU
3DUDOLEHUDUHOEORTXHRGHOYRODQWH
DEUD\FLHUUHODSXHUWDGHOFRQGXFWRU
\FRQHFWHHOPRGRDX[LOLDURDUUDQTXH
HOPRWRUGLUHFWDPHQWH
$GYHUWHQFLD
6LVHGHVFDUJDODEDWHUÞDGHOYHಢ
KÞFXORQRVHGHEHUHPROFDUR
DUUDQFDUHOYHKÞFXORHPSXMDQGRR
UHPROFDQGR\DTXHQRVHSRGUÒ
GHVEORTXHDUHOYRODQWH
)XQFLRQDPLHQWRHQYHKÞFXORVFRQ
VLVWHPDGHOODYHHOHFWUäQLFDHQ
FDVRGHDYHUÞD
6LIDOODODOODYHHOHFWUäQLFDRODEDWHUÞD
GHODOODYHHOHFWUäQLFDHVWÒEDMDHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
SXHGHPRVWUDU1
1LQJXQDGHWHFFLäQ
&RQGXFFLäQ\PDQHMR
PDQGRDGLVWDQ)2%R6
6XVWLWX\DSLOD
HQOODYHPDQGRDGLVWDQFLDDOLQWHQWDU
DUUDQFDUHOYHKÞFXOR
(VWDRSFLäQHVVäORSDUDFDVRVGH
HPHUJHQFLD6XVWLWX\DODEDWHUÞDGHOD
OODYHHOHFWUäQLFDORDQWHVSRVLEOH
3DUDGHVEORTXHDUREORTXHDUODV
SXHUWDVFRQVXOWH$YHUÞDHQODXQLGDG
GHOPDQGRDGLVWDQFLDRHOVLVWHPDGH
OODYHHOHFWUäQLFD
$UUDQTXHGHOPRWRU
9HKÞFXORFRQLQWHUUXSWRUGH
HQFHQGLGR
$OLPHQWDFLäQHOÚFWULFDGH
UHVHUYD
$EUDOD]RQDSRUWDREMHWRVGHODFRQಢ
VRODFHQWUDOHOHYDQGRHOUHSRVDEUDಢ
]RV&RORTXHODOODYHHOHFWUäQLFDHQHO
EROVLOORGHOWUDQVPLVRU
/RVGHPÒVREMHWRVFRPRRWUDVOODಢ
YHVWUDQVPLVRUHWLTXHWDVPRQHGDV
HWFGHEHQUHWLUDUVHGHOEROVLOOR
3LVHHOSHGDOGHOHPEUDJXHFDPELR
PDQXDORSHGDOGHOIUHQRFDPELRDXಢ
WRPÒWLFR\SXOVH(
(QJLQH6WDUW6WRS
3DUDDSDJDUHOPRWRUSXOVHGHQXHYR
(QJLQH6WDUW6WRS5HWLUHODOODYH
HOHFWUäQLFDGHOEROVLOORGHOWUDQVPLVRU
'HVSXÚVGHGHVFRQHFWDUHOHQFHQಢ
GLGRORVVLJXLHQWHVVLVWHPDVHOHFWUäಢ
QLFRVSXHGHQIXQFLRQDUKDVWDTXHVH
DEUDODSXHUWDGHOFRQGXFWRURGXಢ
UDQWHPLQXWRV
ထ HOHYDOXQDVHOÚFWULFRV
ထ WHFKRVRODU
ထ WRPDVGHFRUULHQWH
&DPELRPDQXDODFFLRQHHOSHGDOGHO
HPEUDJXH\HOIUHQR
&DPELRDXWRPÒWLFRDFFLRQHHOSHGDO
GHOIUHQR\SRQJDODSDODQFDVHOHFWRUD
HQ3
3R1
1
1RSLVHHOSHGDOGHODFHOHUDGRU
&RQPRWRUGLÚVHOJLUHODOODYHDODSRಢ
VLFLäQ
SDUDHOSUHFDOHQWDPLHQWR
KDVWDTXHVHDSDJXHHOWHVWLJRGH
FRQWURO
&RQGXFFLäQ\PDQHMR
*LUHODOODYHXQPRPHQWRDODSRVLಢ
FLäQ
\VXÚOWHODXQSURFHGLPLHQWR
DXWRPÒWLFRDFFLRQDHOPRWRUGH
DUUDQTXHFRQXQEUHYHUHWDUGRKDVWD
TXHHOPRWRUHVWÚHQPDUFKDYÚDVH
&RQWURODXWRPÒWLFRGHDUUDQTXH
'XUDQWHXQDSDUDGDDXWRPÒWLFDVH
SXHGHDUUDQFDUHOPRWRUSLVDQGRHO
SHGDOGHOHPEUDJXH
9HKÞFXORVFRQERWäQGH
HQFHQGLGR
&DPELRDXWRPÒWLFRDFFLRQHHOSHGDO
GHOIUHQR\SRQJDODSDODQFDVHOHFWRUD
HQ3
3R1
1
1RSLVHHOSHGDOGHODFHOHUDGRU
3XOVH\VXHOWH(
(QJLQH6WDUW6WRSXQ
SURFHGLPLHQWRDXWRPÒWLFRDFFLRQDHO
PRWRUGHDUUDQTXHFRQXQEUHYHUHಢ
WDUGRKDVWDTXHHOPRWRUHVWÚHQPDUಢ
FKDYÚDVH&RQWURODXWRPÒWLFRGH
DUUDQTXH
$QWHVGHYROYHUDDUUDQFDURDSDJDU
HOPRWRUFXDQGRHOYHKÞFXORHVWÒHVಢ
WDFLRQDULRSXOVHPÒVEUHYHPHQWH
(QJLQH6WDUW6WRSXQDYH]
'XUDQWHXQDSDUDGDDXWRPÒWLFDVH
SXHGHDUUDQFDUHOPRWRUSLVDQGRHO
SHGDOGHOHPEUDJXH
'HVFRQH[LäQGHHPHUJHQFLD
GXUDQWHODFRQGXFFLäQ
&DPELRPDQXDODFFLRQHHOSHGDOGHO
HPEUDJXH\HOIUHQR
6LHVQHFHVDULRGHVFRQHFWDUHOPRWRU
PLHQWUDVVHFRQGXFHHQFDVRGH
HPHUJHQFLDSXOVH(
(QJLQH6WDUW6WRS
GXUDQWHPÒVGHVHJXQGRVRSXOVH
GRVYHFHVEUHYHPHQWHVHJXQGRV
3HOLJUR
$SDJDUHOPRWRUGXUDQWHODFRQಢ
GXFFLäQSXHGHSURYRFDUXQDSÚUಢ
GLGDGHDSR\RGHDOLPHQWDFLäQD
ORVVLVWHPDVGHOIUHQR\GLUHFFLäQ
/RVVLVWHPDVGHDVLVWHQFLD\ORV
VLVWHPDVGHDLUEDJVHVWÒQLQKDELಢ
OLWDGRV/RVIDURV\ODVOXFHVGH
IUHQRVHDSDJDUÒQ3RUWDQWRVRಢ
ODPHQWHVHGHEHDSDJDUHOPRWRU
\HOHQFHQGLGRPLHQWUDVVHFRQಢ
GXFHFXDQGRVHDQHFHVDULRHQ
FDVRGHHPHUJHQFLDGHOYHKÞFXOR
&RQGXFFLäQ\PDQHMR
$UUDQTXHGHOYHKÞFXORFRQ
WHPSHUDWXUDVEDMDV
(VSRVLEOHDUUDQFDUHOPRWRUVLQGLVಢ
SRVLWLYRVDGLFLRQDOHVGHFDOHQWDಢ
PLHQWRKDVWDORV¡̸HQPRWRUHV
GLÚVHO\ORV¡&HQPRWRUHVGHJDಢ
VROLQD6HUHTXLHUHXQDFHLWHGHPRWRU
FRQODYLVFRVLGDGFRUUHFWDHOFRPಢ
EXVWLEOHDGHFXDGRODUHDOL]DFLäQGH
ORVVHUYLFLRVGHPDQWHQLPLHQWR\XQD
EDWHUÞDGHOYHKÞFXORFRQFDUJDVXILಢ
FLHQWH&RQWHPSHUDWXUDVLQIHULRUHVD
¡&HOFDPELRDXWRPÒWLFRQHFHಢ
VLWDXQDIDVHGHFDOHQWDPLHQWRGH
XQRVPLQXWRV/DSDODQFDVHOHFWRUD
GHEHHVWDUHQODSRVLFLäQ3
3
&RQWURODXWRPÒWLFRGHDUUDQTXH
(VWDIXQFLäQFRQWURODHOSURFHGLಢ
PLHQWRGHDUUDQTXHGHOPRWRU(OFRQಢ
GXFWRUQRWLHQHTXHVXMHWDUODOODYHHQ
SRVLFLäQ
QLPDQWHQHUSXOVDGR
(QJLQH6WDUW6WRS8QDYH]DSOLFDGR
HOVLVWHPDFRQWLQXDUÒHOSURFHVRGH
DUUDQTXHDXWRPÒWLFDPHQWHKDVWDTXH
HOPRWRUHVWÚHQPDUFKD'HELGRDO
SURFHGLPLHQWRGHFRPSUREDFLäQHO
PRWRUVHSRQHHQPDUFKDFRQXQ
EUHYHUHWDUGR
3RVLEOHVFDXVDVGHTXHHOPRWRUQR
DUUDQTXH
ထ (OSHGDOGHOHPEUDJXHQRHVWÒ
DFFLRQDGRFDPELRPDQXDO
ထ (OSHGDOGHOIUHQRQRHVWÒDFFLRಢ
QDGRRODSDODQFDVHOHFWRUDQR
HVWÒHQ3
3R1
1FDPELRDXWRPÒಢ
WLFR
ထ 6HKDDJRWDGRHOWLHPSRGHHVಢ
SHUD
&DOHQWDPLHQWRGHOPRWRUWXUER
$ODUUDQFDUHOSDUPRWRUGLVSRQLEOH
SXHGHHVWDUOLPLWDGRGXUDQWHXQ
WLHPSREUHYHHVSHFLDOPHQWHFXDQGR
ODWHPSHUDWXUDGHOPRWRUHVEDMD
(VWDOLPLWDFLäQSHUPLWHDOVLVWHPDGH
OXEULFDFLäQSURWHJHUHILFD]PHQWHHO
PRWRU
&RUWHGHFRPEXVWLEOHHQ
UÚJLPHQGHUHWHQFLäQ
/DDOLPHQWDFLäQGHFRPEXVWLEOHVH
FRUWDDXWRPÒWLFDPHQWHGXUDQWHHOUÚಢ
JLPHQGHUHWHQFLäQHVGHFLUFXDQGR
VHFRQGXFHHOYHKÞFXORFRQXQDPDUಢ
FKDHQJUDQDGDSHURVLQSLVDUHODFHಢ
OHUDGRU
6LVWHPDVWRSVWDUW
(OVLVWHPDVWRSVWDUWSHUPLWHDKRUUDU
FRPEXVWLEOH\UHGXFLUODVHPLVLRQHV
GHJDVHVGHHVFDSH&XDQGRODVFRQಢ
GLFLRQHVORSHUPLWHQHOVLVWHPDGHVಢ
FRQHFWDHOPRWRUHQFXDQWRHOYHಢ
KÞFXORFLUFXODDEDMDYHORFLGDGRHVWÒ
SDUDGRSRUHMHPSORHQXQVHPÒIRUR
RHQXQDWDVFR9XHOYHDDUUDQFDUDXಢ
WRPÒWLFDPHQWHHOPRWRUHQFXDQWRVH
SLVDHOHPEUDJXH8QVHQVRUGHEDಢ
WHUÞDJDUDQWL]DTXHODSDUDGDDXWRPÒಢ
WLFD$XWRVWRSVRODPHQWHVHHIHFWëH
VLKD\VXILFLHQWHFDUJDHQODEDWHUÞD
GHOYHKÞFXORSDUDYROYHUDDUUDQFDU
$FWLYDFLäQ
(OVLVWHPDVWRSVWDUWHVWÒGLVSRQLEOH
FRQHOPRWRUDUUDQFDGRHOYHKÞFXOR
HQPDUFKD\VLHPSUHTXHVHFXPSODQ
ODVFRQGLFLRQHVHVSHFLILFDGDVPÒV
DGHODQWHHQHVWDVHFFLäQ
&RQGXFFLäQ\PDQHMR
'HVDFWLYDFLäQ
(OPRWRUVHSDUDUÒ\HOHQFHQGLGRVH
PDQWLHQHFRQHFWDGR
'XUDQWHXQDSDUDGDDXWRPÒWLFDVH
PDQWHQGUÒODFDOHIDFFLäQ\ODRSHUDಢ
WLYLGDGGHORVIUHQRV
$WHQFLäQ
/DDVLVWHQFLDDODGLUHFFLäQSXHGH
UHGXFLUVHGXUDQWHXQDGHWHQFLäQ
DXWRPÒWLFD
'HVDFWLYHPDQXDOPHQWHHOVLVWHPD
VWRSVWDUWSXOVDQGRH
HFR/DGHVDFWLಢ
YDFLäQVHLQGLFDFXDQGRHO/('GHO
ERWäQVHDSDJD
$XWRVWRS
6LHOYHKÞFXORFLUFXODDEDMDYHORFLGDG
RHVWÒSDUDGRDFWLYHODIXQFLäQGH
SDUDGDDXWRPÒWLFD$XWRVWRSGHOVLಢ
JXLHQWHPRGR
ထ 3LVHHOSHGDOGHOHPEUDJXH
ထ 0XHYDODSDODQFDVHOHFWRUDDOD
SRVLFLäQGHSXQWRPXHUWR
ထ 6XHOWHHOSHGDOGHOHPEUDJXH
/DSDUDGDDXWRPÒWLFDVHLQGLFDPHಢ
GLDQWHODDJXMDHQODSRVLFLäQ
$8726723HQHOFXHQWDUUHYROXFLRಢ
QHV(QDOJXQDVYHUVLRQHVXQWHVWLJR
GHFRQWUROHQHOFXDGURGHLQVWUXPHQಢ
WRVVHLOXPLQDFXDQGRHOPRWRUHVWÒ
HQSDUDGDDXWRPÒWLFD
&RQGLFLRQHVSDUDXQDSDUDGD
DXWRPÒWLFD$XWRVWRS
(OVLVWHPDVWRSVWDUWFRPSUXHEDVLVH
FXPSOHQWRGDVODVFRQGLFLRQHVVLಢ
JXLHQWHV
ထ (OVLVWHPDVWRSVWDUWQRHVWÒGHVಢ
DFWLYDGRPDQXDOPHQWH
ထ (OFDSäHVWÒWRWDOPHQWHFHUUDGR
ထ /DSXHUWDGHOFRQGXFWRUHVWÒFHಢ
UUDGDRHOFLQWXUäQGHVHJXULGDG
GHOFRQGXFWRUHVWÒDEURFKDGR
ထ /DEDWHUÞDGHOYHKÞFXORWLHQHVXಢ
ILFLHQWHFDUJD\HVWÒHQEXHQHVಢ
WDGR
ထ (OPRWRUHVWÒFDOLHQWH
ထ /DWHPSHUDWXUDGHOUHIULJHUDQWH
GHOPRWRUQRHVGHPDVLDGRDOWD
&RQGXFFLäQ\PDQHMR
ထ
/DWHPSHUDWXUDGHOVLVWHPDGH
HVFDSHGHOPRWRUQRHVGHPDಢ
VLDGRHOHYDGDSRUHMHPSORWUDV
FRQGXFLUFRQXQDFDUJDGHPRWRU
HOHYDGD
ထ /DWHPSHUDWXUDDPELHQWHHVVXಢ
SHULRUD¡&
ထ (OFOLPDWL]DGRUDXWRPÒWLFRSHUಢ
PLWHXQDSDUDGDDXWRPÒWLFD
ထ (OQLYHOGHYDFÞRGHOVLVWHPDGH
IUHQRVHVVXILFLHQWH
ထ /DIXQFLäQGHDXWROLPSLH]DGHOILOಢ
WURGHSDUWÞFXODVGLÚVHOQRHVWÒ
DFWLYD
ထ (OYHKÞFXORVHKDFRQGXFLGRDYHಢ
ORFLGDGGHPDUFKDKXPDQD
FRPRPÞQLPRGHVGHODëOWLPD
SDUDGDDXWRPÒWLFD
(QFDVRFRQWUDULRVHLQKLELUÒODSDಢ
UDGDDXWRPÒWLFDDXWRVWRS
'HWHUPLQDGRVDMXVWHVGHOFOLPDWL]Dಢ
GRUDXWRPÒWLFRSXHGHQLQKLELUXQD
SDUDGDDXWRPÒWLFD9ÚDVHHOFDSÞWXOR
VREUHFOLPDWL]DFLäQSDUDPÒVGHWDOOHV
3XHGHTXHVHDQXOHODSDUDGDDXWRಢ
PÒWLFD$XWRVWRSMXVWRGHVSXÚVGH
FRQGXFLUSRUDXWRSLVWD
5RGDMHGHXQYHKÞFXORQXHYR
3URWHFFLäQFRQWUDGHVFDUJDGHOD
EDWHUÞDGHOYHKÞFXOR
3DUDJDUDQWL]DUTXHHOPRWRUYXHOYDD
DUUDQFDUGHIRUPDILDEOHHOVLVWHPD
VWRSVWDUWLQFRUSRUDGLYHUVDVIXQFLRಢ
QHVGHSURWHFFLäQFRQWUDODGHVFDUJD
GHODEDWHUÞD
0HGLGDGHDKRUURGHHQHUJÞD
'XUDQWHXQDSDUDGDDXWRPÒWLFD$Xಢ
WRVWRSYDULDVIXQFLRQHVHOÚFWULFDV
FRPRHOFDOHIDFWRUDX[LOLDUHOÚFWULFRR
ODOXQHWDWÚUPLFDWUDVHUDVHGHVDFWLಢ
YDQRHQWUDQHQPRGRGHDKRUURGH
HQHUJÞD/DYHORFLGDGGHOYHQWLODGRU
GHOVLVWHPDGHFOLPDWL]DFLäQVHUHಢ
GXFHSDUDDKRUUDUHQHUJÞD
5HDUUDQTXHGHOPRWRUSRUHO
FRQGXFWRU
3LVHHOSHGDOGHOHPEUDJXHSDUDYROಢ
YHUDDUUDQFDUHOPRWRU
(ODUUDQTXHGHOPRWRUVHLQGLFDPHಢ
GLDQWHODDJXMDHQODSRVLFLäQGHUÚಢ
JLPHQGHUDOHQWÞHQHOFXHQWDUUHYROXಢ
FLRQHV
6LODSDODQFDVHOHFWRUDVHTXLWDGH
SXQWRPXHUWRDQWHVGHSLVDUHOHPಢ
EUDJXHHOLQGLFDGRUGHFRQWUROVH
LOXPLQDUÒRVHPRVWUDUÒFRPRVÞPಢ
ERORHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
7HVWLJRGHFRQWURO
5HDUUDQTXHGHOPRWRUSRUHO
VLVWHPDVWRSVWDUW
/DSDODQFDVHOHFWRUDWLHQHTXHHVWDU
HQSXQWRPXHUWRSDUDDFWLYDUHOUHDಢ
UUDQTXHDXWRPÒWLFR
6LVHGDDOJXQDGHODVFRQGLFLRQHVVLಢ
JXLHQWHVGXUDQWHXQDSDUDGDDXWRPÒಢ
WLFDHOVLVWHPDVWRSVWDUWYROYHUÒD
DUUDQFDUDXWRPÒWLFDPHQWHHOPRWRU
ထ (OVLVWHPDVWRSVWDUWVHGHVDFಢ
WLYDPDQXDOPHQWH
ထ 6LVHDEUHHOFDSä
ထ 6HGHVDEURFKDHOFLQWXUäQGHVHಢ
JXULGDGGHOFRQGXFWRU\VHDEUH
ODSXHUWDGHOFRQGXFWRU
ထ /DWHPSHUDWXUDGHOPRWRUHVGHಢ
PDVLDGREDMD
ထ
&RQGXFFLäQ\PDQHMR
(OQLYHOGHFDUJDGHODEDWHUÞDGHO
YHKÞFXORHVLQIHULRUDXQQLYHOGHಢ
ILQLGR
ထ (OQLYHOGHYDFÞRGHOVLVWHPDGH
IUHQRVHVLQVXILFLHQWH
ထ (OYHKÞFXORVHFRQGXFHFRPR
PÞQLPRDYHORFLGDGGHPDUFKD
KXPDQD
ထ (OFOLPDWL]DGRUDXWRPÒWLFRVROLಢ
FLWDHODUUDQTXHGHOPRWRU
ထ (ODLUHDFRQGLFLRQDGRVHHQಢ
FLHQGHPDQXDOPHQWH
6LHOFDSäQRHVWÒWRWDOPHQWHFHUUDGR
DSDUHFHUÒXQPHQVDMHGHDGYHUWHQಢ
FLDHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
6LKD\XQDFFHVRULRHOÚFWULFRSRU
HMHPSORXQUHSURGXFWRUGH&'SRUWÒಢ
WLOFRQHFWDGRDODWRPDGHFRUULHQWH
SXHGHTXHVHQRWHXQDFDÞGDGHOD
DOLPHQWDFLäQGXUDQWHHOUHDUUDQTXH
(VWDFLRQDPLHQWR
ထ
$GYHUWHQFLD
ထ
ထ
ထ
1RDSDUTXHHOYHKÞFXORVREUHOD
VXSHUILFLHLQIODPDEOH/DWHPಢ
SHUDWXUDDOWDGHOVLVWHPDGHHVಢ
FDSHSRGUÞDSUHQGHUIXHJRHQ
ODVXSHUILFLH
$FFLRQHVLHPSUHHOIUHQRGHHVಢ
WDFLRQDPLHQWR$FFLRQHHO
IUHQRGHHVWDFLRQDPLHQWRPDಢ
QXDOVLQSXOVDUHOERWäQGHGHVಢ
EORTXHR(QSHQGLHQWHVDSOÞಢ
TXHORFRQWRGDODILUPH]DSRVLಢ
EOH3DUDUHGXFLUHOHVIXHU]R
SLVHHOSHGDOGHOIUHQRDOPLVPR
WLHPSR
(QYHKÞFXORVFRQIUHQRGHHVಢ
WDFLRQDPLHQWRHOÚFWULFRWLUHGHO
LQWHUUXSWRUPGXUDQWH
XQVHJXQGRDSUR[LPDGDPHQWH
(OIUHQRGHHVWDFLRQDPLHQWR
HOÚFWULFRHVWÒDFFLRQDGR
FXDQGRVHHQFLHQGHHOWHVWLJR
GHFRQWUROP
'HVFRQHFWHHOPRWRU
ထ
ထ
6LHOYHKÞFXORVHHQFXHQWUDVRಢ
EUHXQDVXSHUILFLHQLYHODGDR
XQDSHQGLHQWHDVFHQGHQWH
DSOLTXHODSULPHUDPDUFKDRFRಢ
ORTXHODSDODQFDVHOHFWRUDHQ
SRVLFLäQ3
3DQWHVGHVDFDUOD
OODYHGHFRQWDFWRRDSDJDUHO
HQFHQGLGRHQYHKÞFXORVFRQ
ERWäQGHHQFHQGLGR6LHOYHಢ
KÞFXORHVWÒFXHVWDDUULEDJLUH
ODVUXHGDVGHODQWHUDVHQODGLಢ
UHFFLäQFRQWUDULDDOERUGLOOR
6LHOYHKÞFXORVHHQFXHQWUDVRಢ
EUHXQDSHQGLHQWHGHVFHQಢ
GHQWHDSOLTXHODPDUFKDDWUÒV
RFRORTXHODSDODQFDVHOHFWRUD
HQSRVLFLäQ3
3DQWHVGHVDFDUOD
OODYHGHFRQWDFWRRDSDJDUHO
HQFHQGLGRHQYHKÞFXORVFRQ
ERWäQGHHQFHQGLGR*LUHODV
UXHGDVGHODQWHUDVKDFLDHOERUಢ
GLOOR
&LHUUHODVYHQWDQLOODV\HOWHFKR
VRODU
6DTXHODOODYHGHFRQWDFWRGHO
LQWHUUXSWRUGHHQFHQGLGRRDSDಢ
JXHHOFRQWDFWRHQYHKÞFXORV
FRQERWäQGHHQFHQGLGR*LUH
&RQGXFFLäQ\PDQHMR
HOYRODQWHKDVWDTXHSHUFLED
TXHVHKDEORTXHDGR
(QYHKÞFXORVFRQFDPELRDXWRಢ
PÒWLFRODOODYHVäORSXHGHVDಢ
FDUVHFXDQGRODSDODQFDVHOHFಢ
WRUDHVWÒHQODSRVLFLäQ3
3
ထ
ထ
%ORTXHHHOYHKÞFXORFRQHOERWäQ
CGHOPDQGRDGLVWDQFLD
&RQHFWHHOVLVWHPDGHDODUPD
DQWLUURER
/RVYHQWLODGRUHVGHUHIULJHUDFLäQ
GHOPRWRUSXHGHQVHJXLUIXQFLRಢ
QDQGRGHVSXÚVGHGHVFRQHFWDU
HOPRWRU
$WHQFLäQ
'HVSXÚVGHFLUFXODUDXQUÚJLPHQ
HOHYDGRRDOWDFDUJDVHGHEHGHಢ
MDUIXQFLRQDUHOPRWRUEUHYHPHQWH
FRQEDMDFDUJDRDOUDOHQWÞGXUDQWH
XQRVVHJXQGRVDQWHVGHSDಢ
UDUORDILQGHSURWHJHUHOWXUERFRPಢ
SUHVRU
1RWD
(QFDVRGHDFFLGHQWHFRQGHVSOLHಢ
JXHGHORVDLUEDJVHOPRWRUVH
DSDJDDXWRPÒWLFDPHQWHVLHOYHಢ
KÞFXORVHGHWLHQHGHQWURGHXQ
WLHPSRGHWHUPLQDGR
6LVWHPDGHHVFDSHGHO
PRWRU
3HOLJUR
/RVJDVHVGHHVFDSHFRQWLHQHQ
PRQä[LGRGHFDUERQRXQJDVLQಢ
FRORURHLQRGRURSHURWä[LFR6X
LQKDODFLäQSRGUÞDUHVXOWDUIDWDO
6LHQWUDQJDVHVGHHVFDSHHQHO
LQWHULRUGHOYHKÞFXORDEUDODVYHQಢ
WDQLOODV+DJDVXEVDQDUODFDXVD
GHODDYHUÞDHQXQWDOOHU
1RFLUFXOHFRQHOFRPSDUWLPLHQWR
GHFDUJDDELHUWR\DTXHSRGUÞDQ
HQWUDUJDVHVGHHVFDSHHQHOYHಢ
KÞFXOR
)LOWURGHSDUWÞFXODVGLÚVHO
(OVLVWHPDGHILOWURGHSDUWÞFXODVGLÚಢ
VHOILOWUDODVSDUWÞFXODVFRQWDPLQDQWHV
GHKROOÞQFRQWHQLGDVHQORVJDVHVGH
HVFDSH(OVLVWHPDLQFRUSRUDXQDIXQಢ
FLäQGHDXWROLPSLH]DTXHDFWëDDXWRಢ
PÒWLFDPHQWHGXUDQWHODPDUFKDVLQ
QLQJXQDQRWLILFDFLäQ(OILOWURVHOLPSLD
TXHPDQGRSHULäGLFDPHQWHODV
&RQGXFFLäQ\PDQHMR
SDUWÞFXODVGHKROOÞQDDOWDVWHPSHUDಢ
WXUDV(VWHSURFHVRVHUHDOL]DDXWRಢ
PÒWLFDPHQWHHQGHWHUPLQDGDVFRQGLಢ
FLRQHVGHFLUFXODFLäQ\SXHGHGXUDU
KDVWDPLQXWRV1RUPDOPHQWHQHಢ
FHVLWDHQWUH\PLQXWRV/DSDUDGD
DXWRPÒWLFDQRHVWÒGLVSRQLEOH\HO
FRQVXPRGHFRPEXVWLEOHSXHGHVHU
PÒVDOWRGXUDQWHHVWHSHUÞRGR/DJHಢ
QHUDFLäQGHKXPR\RORUHVGXUDQWHHO
SURFHVRHVQRUPDO
(QGHWHUPLQDGDVFRQGLFLRQHVGHFRQಢ
GXFFLäQFRPRHQGLVWDQFLDVFRUWDV
HOVLVWHPDQRVHSXHGHOLPSLDUDXWRಢ
PÒWLFDPHQWH
6LHVQHFHVDULROLPSLDUHOILOWUR\ODV
FRQGLFLRQHVFLWDGDVQRKDQSHUPLWLGR
ODOLPSLH]DDXWRPÒWLFDVHLQGLFDUÒ
PHGLDQWH\XQPHQVDMHGHDGYHUಢ
WHQFLDHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
FRQXQPHQVDMHGHDGYHUWHQFLDVH
LOXPLQDFXDQGRHOILOWURGHSDUWÞFXODV
GLÚVHOHVWÒOOHQR,QLFLHHOSURFHVRGH
OLPSLH]DFXDQWRDQWHV
FRQXQPHQVDMHGHDGYHUWHQFLD
SDUSDGHDFXDQGRHOILOWURGHSDUWÞFXಢ
ODVGLÚVHOKDDOFDQ]DGRHOPÒ[LPRQLಢ
YHOGHOOHQDGR,QLFLHHOSURFHVRGH
OLPSLH]DLQPHGLDWDPHQWHSDUDTXHQR
VHGDâHHOPRWRU
3URFHVRGHOLPSLH]D
3DUDDFWLYDUHOSURFHVRGHOLPSLH]D
VLJDFRQGXFLHQGRPDQWHQJDODYHORಢ
FLGDGGHOPRWRUSRUHQFLPDGH
UHYROXFLRQHVSRUPLQXWR(Q
FDVRQHFHVDULRFDPELHDXQDPDUಢ
FKDPÒVFRUWD6HLQLFLDODOLPSLH]D
GHOILOWURGHSDUWÞFXODVGLÚVHO
/DOLPSLH]DVHUHDOL]DPÒVUÒSLGDಢ
PHQWHDUHJÞPHQHVGHUHYROXFLRQHV
PRWRUHOHYDGRV\FDUJDGHOPRWRU
DOWD
(OWHVWLJRGHFRQWUROVHDSDJDHQ
FXDQWRVHKDFRPSOHWDGRHOSURFHVR
GHDXWROLPSLH]D&RQWLQëHFRQGXಢ
FLHQGRKDVWDFRPSOHWDUODRSHUDFLäQ
GHDXWROLPSLH]D
&DWDOL]DGRU
$WHQFLäQ
(OFDWDOL]DGRUUHGXFHHOFRQWHQLGRGH
VXVWDQFLDVQRFLYDVHQORVJDVHVGH
HVFDSH
6LHOSURFHVRGHOLPSLH]DVHLQWHಢ
UUXPSHKD\ULHVJRGHSURYRFDU
JUDYHVGDâRVHQHOPRWRU
$WHQFLäQ
6LQRVHSXHGHHIHFWXDUODOLPSLH]D
SRUDOJëQPRWLYR9VHLOXPLQD\DSDಢ
UHFHXQPHQVDMHGHDGYHUWHQFLDHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
3XHGHUHGXFLUVHODSRWHQFLDGHOPRಢ
WRU5HFXUUDLQPHGLDWDPHQWHDOD
D\XGDGHXQWDOOHU
/RVFRPEXVWLEOHVGHXQDFDOLGDG
GLVWLQWDDORVPHQFLRQDGRVHQODV
SÒJLQDVSRGUÞDQ
FDXVDUGDâRVHQHOFDWDOL]DGRUR
HQORVFRPSRQHQWHVHOHFWUäQLFRV
/DJDVROLQDVLQTXHPDUSXHGH
SURGXFLUXQVREUHFDOHQWDPLHQWR\
GDâRVHQHOFDWDOL]DGRU3RUHVR
VHGHEHHYLWDUHOXVRH[FHVLYRGHO
&RQGXFFLäQ\PDQHMR
PRWRUGHDUUDQTXHYDFLDUHOGHಢ
SäVLWRGHFRPEXVWLEOH\DUUDQFDU
HOPRWRUHPSXMDQGRRUHPROFDQGR
HOYHKÞFXOR
6LVHSURGXFHQIDOORVGHHQFHQGLGR
IXQFLRQDPLHQWRLUUHJXODUGHOPRWRU
GLVPLQXFLäQSHUFHSWLEOHGHODSRWHQಢ
FLDGHOPRWRURFXDOTXLHURWUDDQRPDಢ
OÞDKDJDVXEVDQDUODFDXVDGHODDYHಢ
UÞDHQXQWDOOHUORDQWHVSRVLEOH(Q
FDVRGHHPHUJHQFLDVHSXHGHFRQWLಢ
QXDUFLUFXODQGRGXUDQWHXQEUHYHSHಢ
ULRGRPDQWHQLHQGRODYHORFLGDGGHO
YHKÞFXOR\HOUÚJLPHQGHOPRWRUEDMRV
$G%OXH
,QIRUPDFLäQJHQHUDO
/DUHGXFFLäQFDWDOÞWLFDVHOHFWLYD
%OXH,QMHFWLRQHVXQPÚWRGRSDUDUHಢ
GXFLUVXVWDQFLDOPHQWHODHPLVLäQGH
ä[LGRVGHQLWUäJHQRGHORVJDVHVGH
HVFDSH(VWRVHFRQVLJXHLQ\HFWDQGR
XQOÞTXLGRGHHVFDSHGLÚVHO'()HQ
HOVLVWHPDGHHVFDSH
/DGHVLJQDFLäQGHHVWHOÞTXLGRHV
$G%OXH༨6HWUDWDGHXQOÞTXLGRQR
Wä[LFRQRLQIODPDEOHLQFRORURHLQRಢ
GRURFRPSXHVWRSRUXQGHXUHD
\XQGHDJXD
$GYHUWHQFLD
(YLWHHOFRQWDFWRGH$G%OXHFRQ
ORVRMRVRODSLHO
(QFDVRGHFRQWDFWRFRQORVRMRV
RODSLHODFODUHFRQDJXD
$WHQFLäQ
(YLWHHOFRQWDFWRGHODSLQWXUDFRQ
$G%OXH
(QFDVRGHFRQWDFWRDFODUHFRQ
DJXD
$G%OXHVHFRQJHODDXQDWHPSHUDWXUD
GHDSUR[LPDGDPHQWH«&3XHVWR
TXHHOYHKÞFXORHVWÒHTXLSDGRFRQXQ
SUHFDOHQWDGRUGH$G%OXHVHJDUDQಢ
WL]DODUHGXFFLäQGHHPLVLRQHVDEDMDV
WHPSHUDWXUDV(OSUHFDOHQWDGRUGH
$G%OXHIXQFLRQDDXWRPÒWLFDPHQWH
0DUFDFRPHUFLDOUHJLVWUDGDGH9HUEDQGGHU$XWRPRELOLQGXVWULHH99'$
$GYHUWHQFLDVGHQLYHO
(OFRQVXPRGH$G%OXHHVGHDSUR[Lಢ
PDGDPHQWHOLWURVSRUNP\
GHSHQGHGHOHVWLORGHFRQGXFFLäQ
6LHOQLYHOGH$G%OXHFDHSRUGHEDMR
GHXQYDORUGHWHUPLQDGRVHPRVWUDUÒ
XQDDGYHUWHQFLDGHQLYHO5
5DQJR
GLVWDQFLD$G%OXH
NPHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
'HEHUHSRQHUVHXQYROXPHQGHDO
PHQRVOLWURVGH$G%OXHORDQWHV
SRVLEOH
(VSRVLEOHFRQGXFLUVLQUHVWULFFLRQHV
6LQRVHUHSRQH$G%OXHDQWHVGH
WUDQVFXUULUXQDGLVWDQFLDGHWHUPLಢ
QDGDVHPXHVWUDQDGYHUWHQFLDVGH
QLYHODGLFLRQDOHVHQHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRUHQIXQFLäQ
GHOQLYHOGH$G%OXHDFWXDO'HVSXÚV
VHPXHVWUDQVROLFLWXGHVSDUDUHSRQHU
$G%OXH\ILQDOPHQWHHODQXQFLRSDUD
HYLWDUHOUHDUUDQTXHGHOPRWRU(VWDV
UHVWULFFLRQHVVRQXQUHTXLVLWROHJDO
&RQGXFFLäQ\PDQHMR
(QXQLQWHUYDORGH$G%OXHGH
NPVHPXHVWUDQDOWHUQDPHQWH
ORVVLJXLHQWHVPHQVDMHVGHDGYHUWHQಢ
FLDHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
ထ $G%OXH%DMR5HSRVWDUDKRUD
ထ $UUDQTXHPRWRULPSHGLGRHQ
NP
$GHPÒVHOLQGLFDGRUGHFRQWURO<
SDUSDGHDFRQWLQXDPHQWH\VXHQDXQ
DYLVRDFëVWLFRFXDWURYHFHVFDGD
WUHVPLQXWRV
$QWHVGHDFWLYDUODLPSRVLELOLGDGGH
YROYHUDDUUDQFDUHOPRWRUORVVLಢ
JXLHQWHVPHQVDMHVGHDGYHUWHQFLD
ထ $G%OXH9DFÞR5HSRVWDUDKRUD
ထ (OPRWRUQRDUUDQFDUÒ
VHPXHVWUDQGHPDQHUDDOWHUQDHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
$GHPÒVHOLQGLFDGRUGHFRQWURO<
SDUSDGHDFRQWLQXDPHQWH\VXHQDXQ
DYLVRDFëVWLFRFXDWURYHFHVFDGD
WUHVPLQXWRV
7UDVODLPSRVLELOLGDGGHYROYHUD
DUUDQFDUHOPRWRUHOPHQVDMHVLಢ
JXLHQWH
5HSRVWDU$G%OXHSDUDDUUDQFDU
VHPRVWUDUÒ
3DUDYROYHUDDUUDQFDUHOPRWRUHV
QHFHVDULROOHQDUSULPHURHOGHSäVLWR
GH$G%OXH
$GYHUWHQFLDVGHHPLVLRQHVDOWDV
6LODVHPLVLRQHVGHHVFDSHVXEHQSRU
HQFLPDGHXQGHWHUPLQDGRYDORUHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRUVHPRVWUDUÒQDGYHUWHQFLDVVLPLODಢ
UHVDODVGHVFULWDVDQWHULRUPHQWH
6HPXHVWUDQVROLFLWXGHVSDUDLQVSHFಢ
FLRQDUHOVLVWHPDGHHVFDSH\ILQDOಢ
PHQWHHODQXQFLRSDUDHYLWDUHOUHDಢ
UUDQTXHGHOPRWRU(VWDVUHVWULFFLRಢ
QHVVRQXQUHTXLVLWROHJDO
$FXGDDVXWDOOHUSDUDREWHQHUD\XGD
5HOOHQDU$G%OXH
$WHQFLäQ
8WLOLFHVäOR$G%OXHTXHFXPSODORV
HVWÒQGDUHVHXURSHRV',1
\,62
1RXWLOLFHDGLWLYRV
1RGLOX\DHO$G%OXH
'HORFRQWUDULRHOVLVWHPDGHUHಢ
GXFFLäQFDWDOÞWLFDVHOHFWLYDSRGUÞD
UHVXOWDUGDâDGR
1RWD
$OUHOOHQDUXWLOLFHVäORORVGHSäVLWRV
GH$G%OXHGHVLJQDGRVSDUDHYLWDU
XQH[FHVRGHOOHQDGRGH$G%OXH
$GHPÒVORVKXPRVGHOGHSäVLWR
TXHGDQDWUDSDGRV\QRVDOHQ
3XHVWRTXHHO$G%OXHWLHQHXQDGXಢ
UDFLäQOLPLWDGDFRPSUXHEHODIHFKD
GHFDGXFLGDGDQWHVGHUHOOHQDU
1RWD
6HGHEHDâDGLUXQYROXPHQGHDO
PHQRVOLWURVGH$G%OXHFXDQGRVH
UHOOHQH'HORFRQWUDULRHVSRVLEOH
TXHHOVLVWHPDQRGHWHFWHHOUHOOHQR
GH$G%OXH
6LQRVHGHWHFWDFRUUHFWDPHQWHHO
UHSRVWDMHGH$G%OXH
&RQGXFFLäQ\PDQHMR
&RQGX]FDHOYHKÞFXORGHPDQHUD
FRQWLQXDGDGXUDQWHPLQXWRV
DVHJXUÒQGRVHGHTXHODYHORFLಢ
GDGGHOYHKÞFXORVHDVLHPSUHVXಢ
SHULRUDNPK
6LHOUHSRVWDMHGH$G%OXHVHGHಢ
WHFWDFRUUHFWDPHQWHGHVDSDUHಢ
FHUÒQODVOLPLWDFLRQHVGHVXPLಢ
QLVWURGH$G%OXH
6LHOUHSRVWDMHGH$G%OXHQRVHGHಢ
WHFWDDFXGDDXQWDOOHUSDUDREWHQHU
D\XGD
6LVHGHEHUHOOHQDUHO$G%OXHGHEH
UHDOL]DUVHDWHPSHUDWXUDVLQIHULRUHV
D«&HVSRVLEOHTXHHOVLVWHPD
QRGHWHFWHHOUHOOHQRGH$G%OXH(Q
HVWHFDVRHVWDFLRQHHOYHKÞFXORHQ
XQHVSDFLRFRQXQDWHPSHUDWXUD
DPELHQWHVXSHULRUKDVWDTXHHO
$G%OXHVHOLFëH
1RWD
$OGHVHQURVFDUODWDSDSURWHFWRUDGH
ODERFDGHOOHQDGRSXHGHQVDOLUKXಢ
PRVGHDPRQÞDFR1RORVLQKDOH\D
TXHORVKXPRVWLHQHQXQRORUSHQHಢ
WUDQWH/RVKXPRVQRVRQQRFLYRV
SRULQKDODFLäQ
(OYHKÞFXORGHEHHVWDFLRQDUVHVREUH
XQDVXSHUILFLHQLYHODGD
/DERFDGHOOHQDGRGH$G%OXHVHHQಢ
FXHQWUDGHWUÒVGHODWDSDGHOGHSäVLWR
GHFRPEXVWLEOH
/DWDSDGHOGHSäVLWRGHFRPEXVWLEOH
HVWÒVLWXDGDHQHOODGRWUDVHURGHUHಢ
FKRGHOYHKÞFXOR
/DWDSDGHOGHSäVLWRVäORVHSXHGH
DEULUFRQHOYHKÞFXORGHVEORTXHDGR
6DTXHODOODYHGHODFHUUDGXUDGHO
HQFHQGLGR
&LHUUHWRGDVODVSXHUWDVSDUDHYLಢ
WDUTXHORVYDSRUHVGHODPRQÞDFR
HQWUHQDOLQWHULRUGHOYHKÞFXOR
'HVEORTXHHODWDSDGHOGHSäVLWR
GHFRPEXVWLEOHSXOVDQGRVREUHOD
PLVPD
'HVHQURVTXHHOFDSXFKäQSURWHFಢ
WRUGHODERFDGHOOHQDGR
$EUDHOGHSäVLWRGH$G%OXH
0RQWHXQH[WUHPRGHOWXERIOH[Lಢ
EOHHQHOGHSäVLWR\DWRUQLOOHHORWUR
H[WUHPRHQODERFDGHOOHQDGR
/HYDQWHHOGHSäVLWRKDVWDYDಢ
FLDUOR
'HVHQURVTXHHOWXERIOH[LEOHGHOD
ERFDGHOOHQDGR
0RQWHODWDSDSURWHFWRUD\JLUHKDಢ
FLDODGHUHFKDKDVWDDFRSODUOD
1RWD
'HVHFKHHOGHSäVLWRGH$G%OXH\HO
WXERIOH[LEOHGHDFXHUGRFRQORVUHಢ
TXLVLWRVPHGLRDPELHQWDOHV
&RQGXFFLäQ\PDQHMR
,QWHUFDPELRGH$G%OXH
6LVHKDQUHSRVWDGRPHQRVGH
OLWURVGH$G%OXHGXUDQWHORVëOWLPRV
DâRVHVQHFHVDULRFDPELDUHOOÞಢ
TXLGRUHVWDQWHSXHVWRTXHHO$G%OXH
SUHVHQWDXQDGXUDELOLGDGOLPLWDGD
5HFXUUDDODD\XGDGHXQWDOOHU
$WHQFLäQ
6LVHKDFHFDVRRPLVRVHSRGUÞD
GDâDUHOVLVWHPDGHUHGXFFLäQFDಢ
WDOÞWLFDVHOHFWLYD
&DPELRDXWRPÒWLFR
(OFDPELRDXWRPÒWLFRSHUPLWHFDPಢ
ELDUGHPDUFKDGHIRUPDDXWRPÒWLFD
PRGRDXWRPÒWLFRRPDQXDOPRGR
PDQXDO
(OFDPELRPDQXDOHVSRVLEOHHQHO
PRGRPDQXDOWRFDQGRODSDODQFDGH
FDPELRVRODVSDODQFDVGHOYRODQWH
3DQWDOODLQGLFDGRUDGHO
FDPELR
/DPDUFKDRHOPRGRVHOHFFLRQDGRVH
PXHVWUDHQODSDQWDOODLQGLFDGRUDGHO
FDPELR
(QPRGRDXWRPÒWLFRHOSURJUDPDGH
FRQGXFFLäQVHLQGLFDPHGLDQWH'
'HQ
HO&HQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRU
(QPRGRPDQXDOVHLQGLFDQ0
0\HO
QëPHURGHODPDUFKDVHOHFFLRQDGD
5LQGLFDPDUFKDDWUÒV
1LQGLFDODSRVLFLäQGHSXQWRPXHUWR
3LQGLFDODSRVLFLäQGHHVWDFLRQDಢ
PLHQWR
&RQGXFFLäQ\PDQHMR
3DODQFDVHOHFWRUD
FDPELRDXQDPDUFKDODUJDHQ
PRGRPDQXDOPXHYDODSDODQFD
VHOHFWRUDDODSRVLFLäQ0
0\WRTXH
KDFLDDUULED
< FDPELRDXQDPDUFKDFRUWDHQ
PRGRPDQXDOPXHYDODSDODQFD
VHOHFWRUDDODSRVLFLäQ0
0\WRTXH
KDFLDDWUÒV
/DSDODQFDVHOHFWRUDVHEORTXHDHQOD
SRVLFLäQ3
3\VäORSXHGHPRYHUVHFRQ
HOHQFHQGLGRFRQHFWDGR\HOSHGDOGHO
IUHQRSLVDGR
3 SRVLFLäQGHHVWDFLRQDPLHQWR
ERWäQGHOLEHUDFLäQGHSUHVLäQ
ODVUXHGDVHVWÒQEORTXHDGDV
VRORVHGHEHVHOHFFLRQDUFRQHO
YHKÞFXORSDUDGR\HOIUHQRGHHVಢ
WDFLRQDPLHQWRDFFLRQDGR
5 PDUFKDDWUÒVERWäQGHOLEHUDಢ
FLäQGHSUHVLäQHQJUDQHVRODಢ
PHQWHFXDQGRHOYHKÞFXORHVWÚ
HVWDFLRQDULR
1 SXQWRPXHUWR
' PRGRDXWRPÒWLFR
0 PRGRPDQXDOPXHYDODSDODQFD
VHOHFWRUDGHVGH'
'KDFLDODL]ಢ
TXLHUGD
6LODSDODQFDGHFDPELRVQRHVWÒHQ
3DOGHVFRQHFWDUHOHQFHQGLGRSDUಢ
3
SDGHDUÒHOWHVWLJRGHFRQWUROB\3
3DUDVHOHFFLRQDU3
3R5
5SXOVHHOERWäQ
GHGHVEORTXHR
(OPRWRUVäORVHSXHGHDUUDQFDUFRQ
ODSDODQFDHQODSRVLFLäQ3
3R1
1&RQ
ODSRVLFLäQ1
1VHOHFFLRQDGDSLVHHO
SHGDOGHOIUHQRRDFFLRQHHOIUHQRGH
HVWDFLRQDPLHQWRDQWHVGHDUUDQFDU
1RDFHOHUHPLHQWUDVHQJUDQDXQD
PDUFKD1XQFDSLVHORVSHGDOHVGHO
DFHOHUDGRU\GHOIUHQRDOPLVPR
WLHPSR
&RQXQDPDUFKDHQJUDQDGD\HOIUHQR
VXHOWRHOYHKÞFXORDYDQ]DOHQWDಢ
PHQWH
(IHFWRGHIUHQRGHOPRWRU
$ILQGHDSURYHFKDUHOHIHFWRGHIUHQR
GHOPRWRUVHOHFFLRQHDWLHPSRXQD
PDUFKDPÒVEDMDDOFLUFXODUFXHVWD
DEDMRYHD0RGRPDQXDO
6LHOSHGDOGHOIUHQRQRHVWÒSLVDGR
VHHQFLHQGHHOWHVWLJRGHFRQWUROB
&RQGXFFLäQ\PDQHMR
6DFDUHOYHKÞFXORPHFLÚQGROR
0RGRPDQXDO
6äORVHGHEHPHFHUHOYHKÞFXOR
FXDQGRTXHGDDWDVFDGRHQDUHQD
EDUURRQLHYH0XHYDODSDODQFDVHಢ
OHFWRUDUHSHWLGDPHQWHHQWUH'
'\5
51R
UHYROXFLRQHH[FHVLYDPHQWHHOPRWRU\
HYLWHXQDDFHOHUDFLäQEUXVFD
3DODQFDVHOHFWRUD
3DODQFDVGHOYRODQWH
(VWDFLRQDPLHQWR
$FFLRQHHOIUHQRGHHVWDFLRQDPLHQWR
\VHOHFFLRQH3
3
/DOODYHGHOHQFHQGLGRVäORVHSXHGH
VDFDUFXDQGRODSDODQFDVHOHFWRUD
HVWÒHQODSRVLFLäQ3
3
([WUDLJDODSDODQFDGHFDPELRVGHOD
SRVLFLäQ'
'KDFLDODL]TXLHUGDSDUDVHಢ
OHFFLRQDUHOPRGRPDQXDO
7RTXHODSDODQFDGHFDPELRV
KDFLD
SDUDFDPELDUDXQD
PDUFKDPÒVODUJD
DGHODQWH
KDFLD
DWUÒV<
SDUDFDPELDUDXQD
PDUFKDPÒVFRUWD
(QHOFXDGURGHLQVWUXPHQWRVVHLQಢ
GLFDODPDUFKDVHOHFFLRQDGD
([WUDLJDODSDODQFDGHFDPELRVGHOD
SRVLFLäQ'
'KDFLDODL]TXLHUGDSDUDVHಢ
OHFFLRQDUHOPRGRPDQXDO
7LUHGHODVSDODQFDVGHOYRODQWHSDUD
VHOHFFLRQDUODVPDUFKDVPDQXDOಢ
PHQWH
SDODQFDGHUHFKD WLUHEUHYHಢ
PHQWHSDUD
FDPELDUDXQD
PDUFKDPÒV
ODUJD
&RQGXFFLäQ\PDQHMR
SDODQFD<L]TXLHUGD WLUHEUHYHಢ
PHQWHDXQD
PDUFKDPÒV
FRUWDVLVH
WLUDVHJXLGR
VHSXHGHQ
VDOWDUPDUಢ
FKDV
6LHOYHKÞFXORHVWÒHQSDUDGD\HOPRಢ
WRUDOUDOHQWÞHOFDPELRSHUPDQHFHHQ
PRGRPDQXDOWHPSRUDOPHQWH6H
FDPELDDPRGRDXWRPÒWLFRFXDQGR
VHDFFLRQDHOSHGDOGHODFHOHUDGRUGXಢ
UDQWHXQWLHPSRGHWHUPLQDGR\QRVH
KDUHDOL]DGRQLQJëQFDPELRGHSDಢ
ODQFDHQHOYRODQWH
(QHOFXDGURGHLQVWUXPHQWRVVHLQಢ
GLFDODPDUFKDVHOHFFLRQDGD
,QGLFDFLRQHVJHQHUDOHV
0RGRPDQXDOWHPSRUDOHQPRGRGH
FRQGXFFLäQ'
(OFDPELRGHSDODQFDPDQXDOWDPಢ
ELÚQHVSRVLEOHHQPRGRDXWRPÒWLFR
'8QDYH]ILQDOL]DGRHOIXQFLRQDಢ
PLHQWRGHFDPELRPDQXDOHOFDPELR
SDVDDOPRGRDXWRPÒWLFR'
'WUDQVFXಢ
UULGRXQWLHPSRGHWHUPLQDGR
3DUDLQWHUUXPSLUHOPRGRPDQXDO
UHDOLFHXQDGHODVVLJXLHQWHVFRQGLಢ
FLRQHV
ထ 3XOVHODSDODQFDGXUDQWH
VHJXQGR
ထ 0XHYDODSDODQFDGHFDPELRV
KDFLDODL]TXLHUGDDOPRGRPDಢ
QXDO\YXHOYDDODSRVLFLäQ'
'
6LVHVHOHFFLRQDXQDPDUFKDPÒV
ODUJDFLUFXODQGRDXQDYHORFLGDGGHಢ
PDVLDGREDMDRELHQXQDPDUFKD
PÒVFRUWDDXQDYHORFLGDGGHPDಢ
VLDGRDOWDQRVHSURGXFHHOFDPELR
GHPDUFKD(VWRSXHGHFDXVDUOD
DSDULFLäQGHXQPHQVDMHHQHOFHQWUR
GHLQIRUPDFLäQGHOFRQGXFWRU
(QHOPRGRPDQXDOQRVHSURGXFHHO
FDPELRDXWRPÒWLFRDXQDPDUFKD
PÒVODUJDFRQUHJÞPHQHVGHUHYROXಢ
FLRQHVDOWRVGHOPRWRU
,QGLFDFLäQGHFDPELRGHPDUFKD
(OVÞPEROR5FRQXQQëPHURGHEDMR
LQGLFDFXDQGRVHUHFRPLHQGDHOFDPಢ
ELRGHPDUFKDSRUPRWLYRVGHDKRUUR
GHFRPEXVWLEOH
/DLQGLFDFLäQGHFDPELRDSDUHFHVRಢ
ODPHQWHHQPRGRPDQXDO
3URJUDPDVHOHFWUäQLFRVGH
PDUFKD
ထ
ထ
ထ
ထ
ထ
0HGLDQWHHODXPHQWRGHOUÚJLPHQ
GHOPRWRUHOSURJUDPDGHWHPಢ
SHUDWXUDGHIXQFLRQDPLHQWRSRQH
HOFDWDOL]DGRUUÒSLGDPHQWHDOD
WHPSHUDWXUDQHFHVDULD
/DIXQFLäQGHVHOHFFLäQDXWRPÒಢ
WLFDGHSXQWRPXHUWRDFWëD
FXDQGRVHGHWLHQHHOYHKÞFXOR
FRQXQDPDUFKDGHDYDQFH\FRQ
HOSHGDOGHOIUHQRSLVDGR
&XDQGRHVWÒFRQHFWDGRHOPRGR
63257HOFDPELRGHPDUFKDVH
SURGXFHDUHJÞPHQHVPÒVHOHYDಢ
GRVH[FHSWRFRQHOUHJXODGRUGH
YHORFLGDGFRQHFWDGR0RGR
63257
6HXWLOL]DQSURJUDPDVHVSHFLDOHV
SDUDDGDSWDUDXWRPÒWLFDPHQWH
ORVSXQWRVGHOFDPELRDOVXELUR
EDMDUSHQGLHQWHV
$OLQLFLDUODPDUFKDHQFRQGLFLRಢ
QHVGHQLHYHRKLHORRVREUH
RWUDVVXSHUILFLHVGHVOL]DQWHVHO
&RQGXFFLäQ\PDQHMR
FRQWUROHOHFWUäQLFRGHODFDMDGH
FDPELRVVHOHFFLRQDDXWRPÒWLFDಢ
PHQWHXQDPDUFKDPÒVODUJD
)XQFLäQNLFNGRZQ
(QHOPRGRDXWRPÒWLFRVLVHSLVDD
IRQGRHOSHGDOGHODFHOHUDGRUVH
FDPELDDXQDPDUFKDPÒVFRUWDGHಢ
SHQGLHQGRGHOUÚJLPHQGHOPRWRU
3URWHFFLäQFRQWUD
VREUHFDOHQWDPLHQWR
(QFDVRGHVREUHFDOHQWDPLHQWRGHOD
FDMDGHFDPELRVSRUWHPSHUDWXUDVH[ಢ
WHULRUHVHOHYDGDVRXQDFRQGXFFLäQ
GHSRUWLYDVHSXHGHQUHGXFLUWHPSRಢ
UDOPHQWHHOSDU\HOUÚJLPHQPÒ[LPR
GHOPRWRU
$YHUÞD
(QFDVRGHIDOORDSDUHFHXQPHQVDMH
HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU0HQVDMHVGHOYHKÞFXOR
(OFDPELRDXWRPÒWLFRGHMDGHIXQFLRಢ
QDU6HSXHGHFRQWLQXDUFLUFXODQGR
FRQHOFDPELRPDQXDO
6äORHVWÒGLVSRQLEOHODPDUFKDPÒV
ODUJD'HSHQGLHQGRGHODDYHUÞDOD
›WDPELÚQSXHGHHVWDUGLVSRQLEOHHQ
HOPRGRPDQXDO6HGHEHVHOHFFLRQDU
VäORFRQHOYHKÞFXORSDUDGR
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
HQXQWDOOHU
,QWHUUXSFLäQGHFRUULHQWH
(QFDVRGHLQWHUUXSFLäQGHFRUULHQWH
ODSDODQFDVHOHFWRUDQRVHSXHGHPRಢ
YHUGHODSRVLFLäQ3
3/DOODYHQRVH
SXHGHVDFDUGHODFHUUDGXUDGHOHQಢ
FHQGLGR
6LODEDWHUÞDGHOYHKÞFXORHVWÒGHVFDUಢ
JDGDSRQJDHQPDUFKDHOYHKÞFXOR
FRQFDEOHVDX[LOLDUHVGHDUUDQTXH
6LODEDWHUÞDGHOYHKÞFXORQRHVOD
FDXVDGHOIDOORTXLWHODSDODQFDVHಢ
OHFWRUD
$FFLRQHHOIUHQRGHHVWDFLRQDಢ
PLHQWR
6XHOWHHOUHYHVWLPLHQWRGHODSDಢ
ODQFDVHOHFWRUDSRUODSDUWHWUDಢ
VHUDGHODFRQVRODFHQWUDOOHYÒQಢ
WHOR\JÞUHORKDFLDODL]TXLHUGD
&RQGXFFLäQ\PDQHMR
,QVHUWHODKHUUDPLHQWDHVSHFLDOHQ
ODDEHUWXUDKDVWDHOWRSH\VDTXH
ODSDODQFDVHOHFWRUDGHODSRVLಢ
FLäQ3
3R1
16LVHVHOHFFLRQDGH
QXHYR3
3R1
1ODSDODQFDVHOHFWRUD
YROYHUÒDEORTXHDUVH+DJDVXEಢ
VDQDUODFDXVDGHODLQWHUUXSFLäQ
GHFRUULHQWHHQXQWDOOHU
9XHOYDDPRQWDUHOUHYHVWLPLHQWR
GHODSDODQFDVHOHFWRUDHQODFRQಢ
VRODFHQWUDO
&DPELRPDQXDO
$WHQFLäQ
1RHVDFRQVHMDEOHFRQGXFLUFRQOD
PDQRDSR\DGDHQODSDODQFDVHಢ
OHFWRUD
&DPELHDXQDPDUFKDPÒVODUJD
6LVWHPDVWRSVWDUW
3DUDHQJUDQDUODPDUFKDDWUÒVFRQHO
YHKÞFXORSDUDGRSXOVHHOERWäQGH
GHVEORTXHRGHODSDODQFDVHOHFWRUD\
HQJUDQHODPDUFKD
6LODPDUFKDQRHQWUDFRQIDFLOLGDG
SRQJDODSDODQFDHQSXQWRPXHUWR
VXHOWHHOSHGDOGHOHPEUDJXH\SÞVHOR
GHQXHYROXHJRUHSLWDODVHOHFFLäQGH
ODPDUFKD
1RSLVHHOHPEUDJXHLQQHFHVDULDಢ
PHQWH
3LVHVLHPSUHDIRQGRHOSHGDOGHOHPಢ
EUDJXH1RXWLOLFHHOSHGDOFRPR
DSR\RSDUDHOSLH
&RQGXFFLäQ\PDQHMR
6LVWHPDVGHWUDFFLäQ
7UDFFLäQWRWDO
(OVLVWHPDGHWUDFFLäQWRWDOPHMRUDODV
FDUDFWHUÞVWLFDVGHFRQGXFFLäQ\ODHVಢ
WDELOLGDG\D\XGDDFRQVHJXLUHOPHಢ
MRUFRPSRUWDPLHQWRGHPDUFKDSRVLಢ
EOHVREUHFXDOTXLHUVXSHUILFLH(OVLVಢ
WHPDVLHPSUHHVWÒDFWLYR\QRVH
SXHGHGHVDFWLYDU
(OSDUVHGLVWULEX\HGHIRUPDSURJUHಢ
VLYDHQWUHODVUXHGDVGHORVHMHVGHಢ
ODQWHUR\WUDVHURGHSHQGLHQGRGHODV
FRQGLFLRQHVGHFRQGXFFLäQ$GHPÒV
VHGLVWULEX\HHOSDUHQWUHODVUXHGDV
WUDVHUDVGHSHQGLHQGRGHODVXSHUILಢ
FLH
3DUDXQUHQGLPLHQWRäSWLPRGHOVLVಢ
WHPDORVQHXPÒWLFRVGHOYHKÞFXORQR
GHEHUÞDQWHQHUGLIHUHQWHVJUDGRVGH
GHVJDVWH
6LDSDUHFHXQPHQVDMHGHUHYLVLäQHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRUSXHGHTXHHOVLVWHPDWHQJDXQD
IXQFLRQDOLGDGOLPLWDGDRTXHHVWÚ
FRPSOHWDPHQWHGHVDFWLYDGRHQDOJXಢ
QRVFDVRVSHMHOYHKÞFXORFDPELD
DWUDFFLäQGHODQWHUD5HFXUUDDOD
D\XGDGHXQWDOOHU
5HPROFDGRGHOYHKÞFXOR
)UHQRV
(OVLVWHPDGHIUHQRVWLHQHGRVFLUFXLಢ
WRVGHIUHQRLQGHSHQGLHQWHV
6LIDOODXQRGHORVFLUFXLWRVGHIUHQRV
DëQHVSRVLEOHIUHQDUHOYHKÞFXORFRQ
HORWURFLUFXLWR6LQHPEDUJRSDUDIUHಢ
QDUKD\TXHSLVDUHOSHGDOILUPHಢ
PHQWH6HUHTXLHUHPXFKDPÒV
IXHU]DSDUDHOOR/DGLVWDQFLDGHIUHಢ
QDGRVHUÒPD\RU$QWHVGHFRQWLQXDU
HOYLDMHUHFXUUDDODD\XGDGHXQWDಢ
OOHU
&XDQGRHOPRWRUQRHVWÒHQPDUFKD
HOVHUYRIUHQRGHMDGHIXQFLRQDUGHVಢ
SXÚVGHSLVDUHOSHGDOGHOIUHQRXQDR
GRVYHFHV(VWRQRVLJQLILFDTXHOD
DFFLäQGHOIUHQRVHDPHQRUSHURKDಢ
EUÒTXHSLVDUHOSHGDOFRQPÒVIXHU]D
(VWRGHEHWHQHUVHHQFXHQWDHVSHಢ
FLDOPHQWHDOUHPROFDUHOYHKÞFXOR
7HVWLJRGHFRQWURO1
6LVWHPDDQWLEORTXHRGH
IUHQRV
(OVLVWHPDDQWLEORTXHRGHIUHQRV
$%6HYLWDTXHVHEORTXHHQODV
UXHGDV
&RQGXFFLäQ\PDQHMR
(O$%6FRPLHQ]DDUHJXODUODSUHVLäQ
GHORVIUHQRVHQFXDQWRXQDUXHGD
PXHVWUDWHQGHQFLDDEORTXHDUVH(O
YHKÞFXORPDQWLHQHODPDQLREUDELOLಢ
GDGLQFOXVRGXUDQWHXQDIUHQDGDD
IRQGR
/DUHJXODFLäQGHOVLVWHPD$%6VH
PDQLILHVWDPHGLDQWHODVSXOVDFLRQHV
GHOSHGDOGHOIUHQR\XQUXLGRGHUHಢ
JODMH
3DUDXQDHILFDFLDäSWLPDGHOIUHQDGR
PDQWHQJDHOSHGDOGHOIUHQRSLVDGR
GXUDQWHWRGRHOSURFHVRGHIUHQDGR
DXQTXHHOSHGDOWLHPEOH1RGLVPLಢ
QX\DODSUHVLäQHMHUFLGDVREUHHOSHಢ
GDO
$OLQLFLDUODPDUFKDHOVLVWHPDUHDOL]D
XQDDXWRFRPSUREDFLäQTXHSXHGH
VHUDXGLEOH
7HVWLJRGHFRQWUROS
/X]GHIUHQRDGDSWDWLYD
)UHQRGHHVWDFLRQDPLHQWR
(QFDVRGHXQDIUHQDGDDIRQGRSDUಢ
SDGHDUÒQODVWUHVOXFHVGHIUHQR
PLHQWUDVGXUHODUHJXODFLäQGHO$%6
)UHQRGHHVWDFLRQDPLHQWR
PDQXDO
$YHUÞD
$GYHUWHQFLD
6LKD\XQDDYHUÞDGHO$%6ODVUXHಢ
GDVSXHGHQEORTXHDUVHHQFDVR
GHIUHQD]RVIXHUWHV/DVYHQWDMDV
GHO$%6\DQRHVWÒQGLVSRQLEOHV
$OIUHQDUDIRQGRHOYHKÞFXOR\DQR
UHVSRQGHDOYRODQWH\SXHGHGHಢ
UUDSDU
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
HQXQWDOOHU
&RQGXFFLäQ\PDQHMR
$GYHUWHQFLD
$SOLTXHVLHPSUHHOIUHQRGHHVWDಢ
FLRQDPLHQWRILUPHPHQWHVLQSXOಢ
VDUHOERWäQGHGHVEORTXHRHQ
SHQGLHQWHVDFFLäQHORFRQWRGDOD
ILUPH]DSRVLEOH
3DUDVROWDUHOIUHQRGHHVWDFLRQDಢ
PLHQWROHYDQWHXQSRFRODSDಢ
ODQFDSXOVHHOERWäQGHGHVEORಢ
TXHR\EDMHFRPSOHWDPHQWHODSDಢ
ODQFD
3DUDUHGXFLUHOHVIXHU]RQHFHVDULR
SDUDDFFLRQDUHOIUHQRGHHVWDFLRಢ
QDPLHQWRSLVHVLPXOWÒQHDPHQWH
HOSHGDOGHOIUHQR
7HVWLJRGHFRQWURO1
)UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR
$FFLRQDPLHQWRFRQHOYHKÞFXOR
SDUDGR
$GYHUWHQFLD
7LUHGHOLQWHUUXSWRUPGXUDQWHXQ
PÞQLPRGHXQVHJXQGRKDVWDTXH
HOLQGLFDGRUGHFRQWUROPVHLOXಢ
PLQHFRQVWDQWHPHQWH\VHDSOLTXH
HOIUHQRGHHVWDFLRQDPLHQWR
(OIUHQRGHHVWDFLRQDಢ
PLHQWRHOÚFWULFRIXQFLRQDDXWRPÒಢ
WLFDPHQWHFRQODIXHU]DDGHFXDGD
$QWHVGHDEDQGRQDUHOYHKÞFXOR
FRPSUXHEHHOHVWDGRGHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFR,QGLFDಢ
GRUGHFRQWUROP
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
VHSXHGHDFWLYDUVLHPSUHDXQTXHHO
HQFHQGLGRHVWÚGHVFRQHFWDGR
1RDFFLRQHHOVLVWHPDGHIUHQRGHHVಢ
WDFLRQDPLHQWRHOÚFWULFRFRQGHPDಢ
VLDGDIUHFXHQFLDFRQHOPRWRUSDUDGR
SRUTXHVHSXHGHGHVFDUJDUODEDWHUÞD
GHOYHKÞFXOR
/LEHUDFLäQGHOIUHQR
&RQHFWHHOHQFHQGLGR0DQWHQJDHO
SHGDOGHOIUHQRSLVDGR\OXHJRSXOVH
HOLQWHUUXSWRUP
)XQFLäQGHLQLFLRGHPDUFKD
9HKÞFXORVFRQFDPELRPDQXDO6LVH
DFFLRQDHOSHGDOGHOHPEUDJXH\
OXHJRVHVXHOWDOLJHUDPHQWHHOPLVPR
\VHDFFLRQDOLJHUDPHQWHHOSHGDOGHO
&RQGXFFLäQ\PDQHMR
DFHOHUDGRUVXHOWDHOIUHQRGHHVWDFLRಢ
QDPLHQWRDXWRPÒWLFDPHQWH(VWRQR
HVSRVLEOHVLVHDFFLRQDHOLQWHUUXSWRU
PDOPLVPRWLHPSR
9HKÞFXORVFRQFDPELRDXWRPÒWLFR
$FFLRQDU'
'\OXHJRSLVDUHOSHGDOGHO
DFHOHUDGRUOLEHUDHOIUHQRGHHVWDFLRಢ
QDPLHQWRHOÚFWULFRDXWRPÒWLFDPHQWH
(VWRQRHVSRVLEOHVLVHDFFLRQDHO
LQWHUUXSWRUPDOPLVPRWLHPSR
)UHQDGDGLQÒPLFDFRQHOYHKÞFXORHQ
PRYLPLHQWR
&XDQGRHOYHKÞFXORHVWÒHQPRYLಢ
PLHQWR\VHPDQWLHQHDFFLRQDGRHO
LQWHUUXSWRUPVRQDUÒXQDYLVRDFëVಢ
WLFR\HOIUHQRGHHVWDFLRQDPLHQWR
HOÚFWULFRGHVDFHOHUDUÒHOYHKÞFXOR
SHURQRVHDFFLRQDUÒHVWÒWLFDPHQWH
(QFXDQWRVHVXHOWDHOLQWHUUXSWRUP
FHVDUÒODIUHQDGDGLQÒPLFD
$FFLRQDPLHQWRDXWRPÒWLFR
6LHOYHKÞFXORHVWÒHTXLSDGRFRQFDPಢ
ELRDXWRPÒWLFR\VHDFWLYDHOFRQWURO
GHYHORFLGDGDGDSWDEOHHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFRVHDFFLRQD
DXWRPÒWLFDPHQWHFXDQGRHOYHKÞFXOR
VHGHWLHQHPHGLDQWHHOVLVWHPDGXಢ
UDQWHPÒVGHGRVPLQXWRV
(OIUHQRGHHVWDFLRQDPLHQWRVHVXHOWD
DXWRPÒWLFDPHQWHGHVSXÚVGHFDPಢ
ELDUDGHVFRQHFWDGR
&RPSUREDFLäQGHIXQFLRQDPLHQWR
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
SRGUÞDDFFLRQDUVHDXWRPÒWLFDPHQWH
FXDQGRHOYHKÞFXORQRHVWÒHQPRYLಢ
PLHQWR(VWRVHUHDOL]DSDUDFRPSURಢ
EDUHOIXQFLRQDPLHQWRGHOVLVWHPD
$YHUÞD
6LKD\XQIDOORHQHOIUHQRGHHVWDFLRಢ
QDPLHQWRHOÚFWULFRVHLQGLFDPHಢ
GLDQWHHOWHVWLJRGHFRQWUROM\XQ
PHQVDMHGHOYHKÞFXORHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU',&
0HQVDMHVGHOYHKÞFXOR
3DUDDFFLRQDUHOIUHQRGHHVWDFLRQDಢ
PLHQWRHOÚFWULFRWLUHGHOLQWHUUXSWRU
P\PDQWÚQJDORDVÞGXUDQWHPÒVGH
VHJXQGRV6LVHHQFLHQGHHOWHVWLJR
GHFRQWUROPVLJQLILFDTXHHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFRHVWÒDFFLRಢ
QDGR
3DUDVROWDUHOIUHQRGHHVWDFLRQDಢ
PLHQWRHOÚFWULFRSXOVHHOLQWHUUXSWRU
P\PDQWÚQJDORDVÞGXUDQWHPÒVGH
VHJXQGRV6LVHDSDJDHOWHVWLJRGH
FRQWUROPVLJQLILFDTXHHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFRVHKDVROಢ
WDGR
6LHOWHVWLJRGHFRQWUROPSDUSDGHD
HOIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
QRVHKDDFFLRQDGRRVROWDGRSRU
FRPSOHWR6LSDUSDGHDFRQWLQXDಢ
PHQWHVXHOWHHOIUHQRGHHVWDFLRQDಢ
PLHQWRHOÚFWULFR\YXHOYDDDFFLRಢ
QDUOR
$VLVWHQWHGHIUHQDGD
6LVHSLVDIXHUWH\UÒSLGRHOSHGDOGHO
IUHQRVHIUHQDDXWRPÒWLFDPHQWHFRQ
ODPÒ[LPDSRWHQFLDGHOIUHQR
(OIXQFLRQDPLHQWRGHODVLVWHQWHGH
IUHQDGDVHSXHGHPDQLIHVWDUPHಢ
GLDQWHLPSXOVRVHQHOSHGDOGHOIUHQR
\XQDPD\RUUHVLVWHQFLDDOSLVDUHOSHಢ
GDO
0DQWHQJDSLVDGRHOSHGDOGHOIUHQR
PLHQWUDVVHDQHFHVDULRIUHQDUD
IRQGR/DPÒ[LPDIXHU]DGHIUHQDGD
VHUHGXFHDXWRPÒWLFDPHQWHDOVROWDU
HOSHGDOGHOIUHQR
&RQGXFFLäQ\PDQHMR
$VLVWHQWHGHDUUDQTXHHQ
SHQGLHQWHV
(OVLVWHPDD\XGDDHYLWDUXQPRYLಢ
PLHQWRLQGHVHDGRDOLQLFLDUODPDUFKD
HQSHQGLHQWHV
$OVROWDUHOSHGDOGHOIUHQRGHVSXÚV
GHGHWHQHUVHHQXQDSHQGLHQWHOD
SUHVLäQGHOIUHQRVHPDQWHQGUÒGXಢ
UDQWHVHJXQGRVPÒV/RVIUHQRVVH
VXHOWDQDXWRPÒWLFDPHQWHHQFXDQWR
HOYHKÞFXORHPSLH]DDDFHOHUDU
(ODVLVWHQWHGHDUUDQTXHHQSHQGLHQಢ
WHVQRHVWÒDFWLYRGXUDQWHXQDSDUDGD
DXWRPÒWLFD$XWRVWRS
6LVWHPDVWRSVWDUW
6LVWHPDVGHFRQWUROGH
ODFRQGXFFLäQ
6LVWHPDGHFRQWUROGH
WUDFFLäQ
(OVLVWHPDGHFRQWUROGHWUDFFLäQ7&
HVXQFRPSRQHQWHGHOFRQWUROHOHFಢ
WUäQLFRGHHVWDELOLGDG
(O7&PHMRUDODHVWDELOLGDGGHPDUಢ
FKDHQFDVRQHFHVDULRFRQLQGHSHQಢ
GHQFLDGHOWLSRGHFDO]DGD\GHODJDಢ
UUHGHORVQHXPÒWLFRVHYLWDQGRTXH
SDWLQHQODVUXHGDVPRWULFHV
(QFXDQWRODVUXHGDVPRWULFHVFRಢ
PLHQ]DQDSDWLQDUVHUHGXFHODSRಢ
WHQFLDGHOPRWRU\VHIUHQDLQGLYLGXDOಢ
PHQWHODUXHGDTXHPÒVSDWLQD(VWR
PHMRUDFRQVLGHUDEOHPHQWHODHVWDELಢ
OLGDGGHPDUFKDGHOYHKÞFXORVREUH
FDO]DGDVUHVEDODGL]DV
(O7&HVWÒRSHUDWLYRHQFXDQWRVH
DSDJDHOWHVWLJRGHFRQWUROE
&XDQGRDFWëDHO7&SDUSDGHDHOWHVಢ
WLJRE
$GYHUWHQFLD
1RGHMHTXHHVWDFDUDFWHUÞVWLFDHVಢ
SHFLDOGHVHJXULGDGOHLQFLWHDFRQಢ
GXFLUDUULHVJDGDPHQWH
/DYHORFLGDGGHEHDGDSWDUVHDODV
FRQGLFLRQHVGHODFDO]DGD
7HVWLJRGHFRQWUROE
&RQGXFFLäQ\PDQHMR
'HVDFWLYDFLäQ
6HHQFLHQGHHOWHVWLJRGHFRQWURON
&XDQGRHO7&HVWÒGHVDFWLYDGR(6&
SHUPDQHFHDFWLYR
(O7&VHUHDFWLYDSXOVDQGRGHQXHYR
E
(O7&WDPELÚQVHUHDFWLYDODSUä[LPD
YH]TXHFRQHFWHHOHQFHQGLGR
&RQWUROHOHFWUäQLFRGH
HVWDELOLGDG
6HSXHGHGHVFRQHFWDUHO7&FXDQGR
VHDQHFHVDULRTXHODVUXHGDVPRWULಢ
FHVSDWLQHQ
SXOVHEUHYHPHQWHESDUDGHVDFWLYDU
HO7&VHHQFLHQGHN$OGHVDFWLYDUHO
7&DSDUHFHXQPHQVDMHGHHVWDGR
HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU
(OFRQWUROHOHFWUäQLFRGHHVWDELOLGDG
(6&PHMRUDODHVWDELOLGDGGHPDUಢ
FKDHQFDVRQHFHVDULRFRQLQGHSHQಢ
GHQFLDGHOWLSRGHFDO]DGD\GHODJDಢ
UUHGHORVQHXPÒWLFRV
(QFXDQWRHOYHKÞFXORFRPLHQ]DDGHಢ
UUDSDUVXEYLUDMHVVREUHYLUDMHVVH
UHGXFHODSRWHQFLDGHOPRWRU\VHIUHಢ
QDQODVUXHGDVLQGLYLGXDOPHQWH
(O(6&IXQFLRQDHQFRPELQDFLäQFRQ
HOVLVWHPDGHFRQWUROGHWUDFFLäQ7&
7DPELÚQHYLWDTXHSDWLQHQODV
UXHGDVPRWULFHV
(O(6&HVWÒRSHUDWLYRFDGDYH]TXH
DUUDQFDHOPRWRUHQFXDQWRVHDSDJD
HOWHVWLJRGHFRQWUROE
&XDQGR(6&IXQFLRQDHOWHVWLJRGH
FRQWUROESDUSDGHD
$GYHUWHQFLD
1RGHMHTXHHVWDFDUDFWHUÞVWLFDHVಢ
SHFLDOGHVHJXULGDGOHLQFLWHDFRQಢ
GXFLUDUULHVJDGDPHQWH
/DYHORFLGDGGHEHDGDSWDUVHDODV
FRQGLFLRQHVGHODFDO]DGD
7HVWLJRGHFRQWUROE
&RQGXFFLäQ\PDQHMR
'HVDFWLYDFLäQ
$YHUÞD
ထ
(O(6&\7&VHSXHGHQGHVDFWLYDU
ထ PDQWHQJDESXOVDGRGXUDQWHXQ
PÞQLPRGHFLQFRVHJXQGRV7&\
(6&VHGHVDFWLYDQN\QVHLOXಢ
PLQDQ\DSDUHFHQPHQVDMHVGH
HVWDGRHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRU
SDUDGHVDFWLYDUëQLFDPHQWHHO
VLVWHPDGHFRQWUROGHWUDFFLäQ
SXOVHHOERWäQEEUHYHPHQWHHO
7&HVWÒLQDFWLYRSHURHO(6&SHUಢ
PDQHFHDFWLYRNVHLOXPLQD$O
GHVDFWLYDUHO7&DSDUHFHXQ
PHQVDMHGHHVWDGRHQHOFHQWUR
GHLQIRUPDFLäQGHOFRQGXFWRU
6LHOYHKÞFXORDOFDQ]DHOXPEUDOFRQ
HO(6&GHVDFWLYDGRHOVLVWHPDUHDFಢ
WLYDUÒHO(6&GXUDQWHHOSHULRGRTXH
GXUHGLFKRXPEUDOFXDQGRVHSLVH
XQDYH]HOSHGDOGHOIUHQR
(O(6&VHUHDFWLYDSXOVDQGRGH
QXHYRE6LVHKDGHVDFWLYDGRDQWHಢ
ULRUPHQWHHOVLVWHPD7&WDQWR7&
FRPR(6&YXHOYHQDDFWLYDUVHN\
QVHDSDJDQFXDQGRVHYXHOYHQDDFಢ
WLYDU7&\(6&
(O(6&WDPELÚQVHUHDFWLYDODSUäಢ
[LPDYH]TXHFRQHFWHHOHQFHQGLGR
6LKD\XQDDYHUÞDHQHOVLVWHPDVH
HQFLHQGHHOWHVWLJRGHFRQWUROEFRQಢ
WLQXDPHQWH\DSDUHFHXQPHQVDMHHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRU(OVLVWHPDQRHVWÒRSHUDWLYR
+DJDVXEVDQDUODFDXVDGHODDYHUÞD
HQXQWDOOHU
6LVWHPDGHFRQGXFFLäQ
LQWHUDFWLYD
)OH[5LGH
(OVLVWHPDGHFRQGXFFLäQ)OH[5LGH
SHUPLWHDOFRQGXFWRUHOHJLUHQWUHWUHV
PRGRV
ထ 0RGR63257SXOVH6
63257VH
HQFLHQGHHO/('
ထ 0RGR7285SXOVH7
7285VH
HQFLHQGHHO/('
ထ 0RGR1250$/QL6
63257QL
7285HVWÒQSXOVDGRVQLQJëQ
/('HVWÒHQFHQGLGR
'HVDFWLYHHOPRGR63257\HOPRGR
7285SXOVDQGRGHQXHYRHOERWäQ
FRUUHVSRQGLHQWH
&RQGXFFLäQ\PDQHMR
(QFDGDPRGRGHFRQGXFFLäQHOVLVಢ
WHPD)OH[5LGHFRQWURODORVVLJXLHQಢ
WHVVLVWHPDVHOHFWUäQLFRV
ထ &RQWUROFRQWLQXRGHODDPRUWLJXDಢ
FLäQ
ထ &RQWUROGHOSHGDOGHODFHOHUDGRU
ထ &RQWUROGHODGLUHFFLäQ
ထ 7UDFFLäQWRWDO
ထ &RQWUROHOHFWUäQLFRGHHVWDELOLಢ
GDG(6&
ထ 6LVWHPDDQWLEORTXHRGHIUHQRV
$%6FRQFRQWUROGHIUHQDGRHQ
FXUYDV&%&
ထ &DPELRDXWRPÒWLFR
0RGR6SRUW
/RVDMXVWHVGHORVVLVWHPDVVHDGDSಢ
WDQSDUDXQHVWLORGHFRQGXFFLäQPÒV
GHSRUWLYR
ထ /DDPRUWLJXDFLäQVHHQGXUHFH
SDUDRIUHFHUXQPHMRUFRQWDFWR
FRQODFDO]DGD
ထ (OPRWRUUHVSRQGHPÒVUÒSLGDಢ
PHQWHDOSHGDOGHODFHOHUDGRU
ထ 6HUHGXFHODDVLVWHQFLDDODGLಢ
UHFFLäQ
ထ &RQWUDFFLäQWRWDOVHGLVWULEX\H
PÒVSDUPRWRUDOHMHWUDVHUR
ထ &RQFDPELRDXWRPÒWLFRORVFDPಢ
ELRVGHPDUFKDVHSURGXFHQPÒV
WDUGH
ထ 'HSHQGLHQGRGHOFXDGURGHLQVಢ
WUXPHQWRVVHDGDSWDUÒHOFRORU
GHODSDQWDOOD
0RGR7285
/RVDMXVWHVGHORVVLVWHPDVVHDGDSಢ
WDQSDUDXQHVWLORGHFRQGXFFLäQPÒV
FRQIRUWDEOH
ထ /DDPRUWLJXDFLäQUHDFFLRQDFRQ
PÒVVXDYLGDG
ထ (OSHGDOGHODFHOHUDGRUUHDFFLRQD
GHIRUPDHVWÒQGDU
ထ /DDVLVWHQFLDDODGLUHFFLäQHV
QRUPDO
ထ
ထ
&RQGXFFLäQ\PDQHMR
&RQWUDFFLäQWRWDOHOSDUPRWRUVH
GLVWULEX\HSULQFLSDOPHQWHDOHMH
GHODQWHUR
&RQFDPELRDXWRPÒWLFRORVFDPಢ
ELRVGHPDUFKDVHSURGXFHQHQ
PRGRFRQIRUW
0RGR1250$/
7RGRVORVDMXVWHVGHORVVLVWHPDVVH
DGDSWDQDORVYDORUHVHVWÒQGDU
&RQWUROGHOPRGRGHFRQGXFFLäQ
(QFDGDPRGRGHFRQGXFFLäQVHOHFಢ
FLRQDGRPDQXDOPHQWH63257
7285R1250$/HOFRQWUROGHO
PRGRGHFRQGXFFLäQ'0&GHWHFWD
\DQDOL]DFRQWLQXDPHQWHODVFDUDFWHಢ
UÞVWLFDVUHDOHVGHFRQGXFFLäQODVUHVಢ
SXHVWDVSRUSDUWHGHOFRQGXFWRU\HO
HVWDGRGLQÒPLFRDFWLYRGHOYHKÞFXOR
6LIXHUDQHFHVDULRODXQLGDGGHFRQಢ
WUROGHO'0&FDPELDDXWRPÒWLFDಢ
PHQWHORVDMXVWHVHQHOPRGRGHFRQಢ
GXFFLäQVHOHFFLRQDGRRFXDQGRUHಢ
FRQRFHJUDQGHVYDULDFLRQHVVHFDPಢ
ELDHOPRGRGHFRQGXFFLäQPLHQWUDV
GXUHQGLFKDVYDULDFLRQHV
3RUHMHPSORVLHVWÒVHOHFFLRQDGRHO
PRGR1250$/\HO'0&GHWHFWD
XQDFRQGXFFLäQGHSRUWLYDHO'0&
FDPELDYDULRVDMXVWHVGHOPRGR1RUಢ
PDODRSFLRQHVPÒVGHSRUWLYDV(O
'0&FDPELDDOPRGR63257HQ
FDVRGHXQDFRQGXFFLäQPX\GHSRUಢ
WLYD
2WURHMHPSORVLHVWÒVHOHFFLRQDGRHO
PRGR7285\HVQHFHVDULRIUHQDUD
IRQGRPLHQWUDVFLUFXODSRUXQDFDUUHಢ
WHUDFRQFXUYDVHO'0&GHWHFWDUÒOD
FRQGLFLäQGLQÒPLFDGHOYHKÞFXOR\
FDPELDUÒORVDMXVWHVGHODVXVSHQಢ
VLäQDOPRGR63257SDUDDXPHQWDU
ODHVWDELOLGDGGHOYHKÞFXOR
&XDQGRODVFDUDFWHUÞVWLFDVGHFRQಢ
GXFFLäQRHOHVWDGRGLQÒPLFRGHOYHಢ
KÞFXORYXHOYDQDODVLWXDFLäQDQWHULRU
HO'0&FDPELDUÒORVDMXVWHVDOPRGR
GHFRQGXFFLäQVHOHFFLRQDGRSUHYLDಢ
PHQWH
$MXVWHVSHUVRQDOL]DGRVHQPRGR
63257
(OFRQGXFWRUSXHGHVHOHFFLRQDUODV
IXQFLRQHVGHOPRGR63257FXDQGR
VHSXOVD6
63257
6HOHFFLRQHORVDMXVWHVFRUUHVSRQಢ
GLHQWHVHQ$
$MXVWHV 0
0RGR
GHSRUWLYRHQODSDQWDOODGHLQIRUPDಢ
FLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
)OH[5LGHYHUVLäQ23&
/DYHUVLäQ23&GHOVLVWHPD)OH[5LGH
IXQFLRQDGHOPLVPRPRGRTXHHOVLVಢ
WHPDHVWÒQGDUODëQLFDGLIHUHQFLDHV
TXHORVPRGRVWLHQHQXQDVFDUDFWHಢ
UÞVWLFDVPÒVGHSRUWLYDV
&RQGXFFLäQ\PDQHMR
(OVLVWHPDGHFRQGXFFLäQ
23&)OH[5LGHSHUPLWHDOFRQGXFWRU
HOHJLUHQWUHWUHVPRGRV
ထ 0RGR23&SXOVH2
23&VHHQಢ
FLHQGHHO/('
ထ 0RGR63257SXOVH6
63257VH
HQFLHQGHHO/('
ထ 0RGR1250$/QL6
63257QL
23&HVWÒQSXOVDGRVQLQJëQ
/('HVWÒHQFHQGLGR
'HVDFWLYHHOPRGR63257\HOPRGR
23&SXOVDQGRGHQXHYRHOERWäQFRಢ
UUHVSRQGLHQWH
(QFDGDPRGRGHFRQGXFFLäQHOVLVಢ
WHPD23&)OH[5LGHFRQWURODORVVLಢ
JXLHQWHVVLVWHPDVHOHFWUäQLFRV
ထ &RQWUROFRQWLQXRGHODDPRUWLJXDಢ
FLäQ
ထ &RQWUROGHOSHGDOGHODFHOHUDGRU
ထ &RQWUROGHODGLUHFFLäQ
ထ 7UDFFLäQWRWDO
ထ &RQWUROHOHFWUäQLFRGHHVWDELOLಢ
GDG(6&
ထ 6LVWHPDDQWLEORTXHRGHIUHQRV
$%6FRQFRQWUROGHIUHQDGRHQ
FXUYDV&%&
ထ &DPELRDXWRPÒWLFR
0RGR23&
/DVFDUDFWHUÞVWLFDVGHODGLQÒPLFDGH
FRQGXFFLäQVHDGDSWDQDXQRVDMXVಢ
WHVGHDOWRUHQGLPLHQWR
'HSHQGLHQGRGHOFXDGURGHLQVWUXಢ
PHQWRVVHDGDSWDUÒHOFRORUGHOD
SDQWDOOD
0RGR6SRUW
/RVDMXVWHVGHORVVLVWHPDVVHDGDSಢ
WDQSDUDXQHVWLORGHFRQGXFFLäQPÒV
GHSRUWLYR
0RGR1250$/
(QHOPRGR1250$/FXDQGRQRHVಢ
WÒQSXOVDGRV63257QL23&WRGRV
ORVDMXVWHVGHORVVLVWHPDVVHDGDSಢ
WDQDORVYDORUHVHVWÒQGDU
$MXVWHVSHUVRQDOL]DGRVHQHOPRGR
23&
(OFRQGXFWRUSXHGHVHOHFFLRQDUODV
IXQFLRQHVGHOPRGR23&FXDQGRVH
SXOVD2
23&
6HOHFFLRQHORVDMXVWHVFRUUHVSRQಢ
GLHQWHVHQ$
$MXVWHV 0
0RGR
GHSRUWLYRHQODSDQWDOODGHLQIRUPDಢ
FLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
&RQGXFFLäQ\PDQHMR
6LVWHPDVGHD\XGDDOD
FRQGXFFLäQ
$GYHUWHQFLD
/RVVLVWHPDVGHD\XGDDODFRQಢ
GXFFLäQHVWÒQFRQFHELGRVSDUD
DSR\DUDOFRQGXFWRU\QRSDUD
UHHPSOD]DUODDWHQFLäQGHOFRQಢ
GXFWRU
(OFRQGXFWRUGHEHDVXPLUWRGDOD
UHVSRQVDELOLGDGFXDQGRFRQGXFH
HOYHKÞFXOR
&XDQGRXWLOLFHVLVWHPDVGHD\XGD
DODFRQGXFFLäQVLHPSUHGHEH
SUHVWDUDWHQFLäQDODVLWXDFLäQGHO
WUÒILFR
5HJXODGRUGHYHORFLGDG
(OUHJXODGRUGHYHORFLGDGSXHGHPHಢ
PRUL]DU\PDQWHQHUYHORFLGDGHVGH
DNPKDSUR[LPDGDPHQWH6H
SXHGHQSURGXFLUYDULDFLRQHVUHVಢ
SHFWRDODYHORFLGDGPHPRUL]DGD
FXDQGRVHFRQGXFHFXHVWDDUULEDR
FXHVWDDEDMR
3RUPRWLYRVGHVHJXULGDGHOUHJXODಢ
GRUGHYHORFLGDGVäORVHSXHGHDFWLಢ
YDUWUDVKDEHUSLVDGRXQDYH]HOSHGDO
GHOIUHQR1RVHSXHGHDFWLYDUHQSULಢ
PHUD
&RQH[LäQ
3XOVH>6HHQFLHQGHHQEODQFRHO
WHVWLJRGHFRQWURO>HQHOFXDGURGH
LQVWUXPHQWRV
$FWLYDFLäQ
1RDFWLYHHOUHJXODGRUGHYHORFLGDGVL
QRHVDFRQVHMDEOHPDQWHQHUXQDYHಢ
ORFLGDGFRQVWDQWH
(QYHKÞFXORVFRQFDPELRDXWRPÒWLFR
RFDPELRPDQXDODXWRPDWL]DGRHOUHಢ
JXODGRUGHYHORFLGDGVHSXHGHDFWLಢ
YDUHQPRGRDXWRPÒWLFR\PRGRPDಢ
QXDO
7HVWLJRGHFRQWURO>
$FHOHUHKDVWDDOFDQ]DUODYHORFLGDG
GHVHDGD\JLUHODUXHGDGHDMXVWHD
6(7VHPHPRUL]D\PDQWLHQHODYHಢ
ORFLGDGDFWXDO(OWHVWLJRGHFRQWURO
>GHOFXDGURGHLQVWUXPHQWRVVHHQಢ
FLHQGHHQYHUGH/DYHORFLGDGGH
DMXVWHHVWÒLQGLFDGDHQODVSDQWDOODV
GHQLYHOLQWHUPHGLRRQLYHOVXSHULRU
FHUFDGHOVÞPEROR>6HSXHGHVROWDU
HOSHGDOGHODFHOHUDGRU
&RQGXFFLäQ\PDQHMR
/DYHORFLGDGGHOYHKÞFXORSXHGHDXಢ
PHQWDUVHSLVDQGRHOSHGDOGHODFHOHಢ
UDGRU&XDQGRVHVXHOWDHOSHGDOGHO
DFHOHUDGRUVHUHFXSHUDODYHORFLGDG
PHPRUL]DGDSUHYLDPHQWH
(OUHJXODGRUGHYHORFLGDGSHUPDQHFH
DFWLYDGRFXDQGRVHFDPELDGHPDUಢ
FKD
$XPHQWDUODYHORFLGDG
&RQHOUHJXODGRUGHYHORFLGDGDFWLಢ
YDGRPDQWHQJDODUXHGDGHDMXVWHJLಢ
UDGDKDFLD5
5(6RJÞUHODEUHYHಢ
PHQWHD5
5(6YDULDVYHFHVODYHORಢ
FLGDGDXPHQWDFRQWLQXDPHQWHRHQ
SHTXHâRVLQFUHPHQWRV
&RPRDOWHUQDWLYDDFHOHUHKDVWDOD
YHORFLGDGGHVHDGD\PHPRULFHHOYDಢ
ORUJLUDQGRODUXHGDD6
6(7
5HGXFLUODYHORFLGDG
&RQHOUHJXODGRUGHYHORFLGDGDFWLಢ
YDGRPDQWHQJDODUXHGDGHDMXVWHJLಢ
UDGDKDFLD6
6(7RJÞUHODEUHYHPHQWH
D6
6(7YDULDVYHFHVODYHORFLGDG
GLVPLQX\HFRQWLQXDPHQWHRHQSHಢ
TXHâRVLQFUHPHQWRV
'HVDFWLYDFLäQ
3XOVH\6HHQFLHQGHHQEODQFRHO
WHVWLJRGHFRQWURO>HQHOFXDGURGH
LQVWUXPHQWRV(OUHJXODGRUGHYHORFLಢ
GDGHVWÒGHVDFWLYDGR/DëOWLPDYHORಢ
FLGDGDOPDFHQDGDSHUPDQHFHHQOD
PHPRULDSDUDUHDQXGDUODYHORFLGDG
FRQSRVWHULRULGDG
'HVDFWLYDFLäQDXWRPÒWLFD
ထ /DYHORFLGDGGHOYHKÞFXORVHHQಢ
FXHQWUDSRUGHEDMRGHXQRV
NPK
ထ /DYHORFLGDGGHOYHKÞFXORFDH
PÒVGHNPKSRUGHEDMRGHOD
YHORFLGDGHVWDEOHFLGD
ထ (OSHGDOGHOIUHQRHVWÒSLVDGR
ထ (OSHGDOGHOHPEUDJXHHVWÒSLಢ
VDGRGXUDQWHXQRVVHJXQGRV
ထ /DSDODQFDVHOHFWRUDHVWÒHQ1
1
ထ (OUÚJLPHQGHOPRWRUHVPX\
EDMR
ထ (OVLVWHPDGHFRQWUROGHWUDFFLäQ
RHOFRQWUROHOHFWUäQLFRGHHVWDಢ
ELOLGDGHVWÒQHQIXQFLRQDPLHQWR
ထ 6HKDDFFLRQDGRODDOHUWDGHFRಢ
OLVLäQIURQWDO
5HVWDEOHFHUODYHORFLGDG
PHPRUL]DGD
$XQDYHORFLGDGVXSHULRUDNPK
JLUHODUXHGDGHDMXVWHD5
5(66H
UHVWDEOHFHUÒODYHORFLGDGJXDUGDGD
'HVFRQH[LäQ
3XOVH>HOWHVWLJRGHFRQWURO>GHO
FXDGURGHLQVWUXPHQWRVVHDSDJD6H
ERUUDODYHORFLGDGPHPRUL]DGD
3XOVDU/SDUDDFWLYDUHOOLPLWDGRUGH
YHORFLGDGRDSDJDUHOHQFHQGLGRGHVಢ
FRQHFWDUÒWDPELÚQHOUHJXODGRUGH
YHORFLGDG\ERUUDUÒODYHORFLGDGPHಢ
PRUL]DGD
/LPLWDGRUGHYHORFLGDG
(OOLPLWDGRUGHYHORFLGDGHYLWDTXHHO
YHKÞFXORVXSHUHXQDYHORFLGDGPÒಢ
[LPDSUHGHILQLGD
/DYHORFLGDGPÒ[LPDVHSXHGHHVWDಢ
EOHFHUDYHORFLGDGHVVXSHULRUHVD
NPKKDVWDNPK
&RQGXFFLäQ\PDQHMR
(OFRQGXFWRUVäORSXHGHDFHOHUDU
KDVWDODYHORFLGDGSUHHVWDEOHFLGD
3XHGHQSUHVHQWDUVHGHVYLDFLRQHVGH
ODYHORFLGDGOLPLWDGDDOFRQGXFLU
FXHVWDDEDMR
(OOÞPLWHGHYHORFLGDGSUHHVWDEOHFLGR
VHPXHVWUDHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRUFRQHOVLVWHPDDFಢ
WLYR
$FWLYDFLäQ
3XOVH/6HHQFLHQGHHQEODQFRHO
WHVWLJRGHFRQWURO/HQHOFXDGURGH
LQVWUXPHQWRV6LHOUHJXODGRUGHYHಢ
ORFLGDGRHOFRQWUROGHYHORFLGDG
DGDSWDEOHVHKDQDFWLYDGRFRQDQWHಢ
ULRULGDGVHDSDJDUÒQDODFWLYDUVHHO
OLPLWDGRUGHYHORFLGDG\FXDQGRHO
WHVWLJRGHFRQWURO>VHDSDJXH
YHUGHVHFDPELDDEODQFRFXDQGRHO
VLVWHPDHVWÒDFWLYDGRSHURQRHQJUDಢ
QDGR
/ÞPLWHGHYHORFLGDGHVWDEOHFLGR
&DPELDUHOOÞPLWHGHYHORFLGDG
$FHOHUHKDVWDDOFDQ]DUODYHORFLGDG
GHVHDGD\JLUHEUHYHPHQWHODUXHGD
GHFRQWUROD6
6(7ODYHORFLGDGDFWXDO
VHPHPRUL]DFRPRODYHORFLGDGPÒಢ
[LPD(OOÞPLWHGHYHORFLGDGDSDUHFH
HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU
&RQHOOLPLWDGRUGHYHORFLGDGDFWLYR
PDQWHQJDRJLUHEUHYHPHQWHODUXHGD
GHFRQWUROD5
5(6SDUDDXPHQWDUR
D6
6(7UHGXFLUODYHORFLGDGPÒ[LPD
GHVHDGD
(OWHVWLJRGHFRQWURO/GHOFXDGURGH
LQVWUXPHQWRVVHHQFLHQGHHQYHUGH
6LHOYHKÞFXORHVWÒHTXLSDGRFRQOD
SDQWDOODGHQLYHOVXSHULRU\VHVHOHFಢ
FLRQDHOPRGRGHSRUWLYRODHVಢ
FDODGHOYHORFÞPHWURVRODPHQWHVH
PXHVWUDKDVWDHOOÞPLWHGHYHORFLGDG
DMXVWDGR(ODMXVWHGHOOLPLWDGRUGH
YHORFLGDGHVWÒPDUFDGRSRUXQSXQWR
6XSHUDUHOOÞPLWHGHYHORFLGDG
6LVHH[FHGHODYHORFLGDGOLPLWDGDVLQ
RUGHQGHOFRQGXFWRUODYHORFLGDGSDUಢ
SDGHDUÒHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU\VRQDUÒXQDYLVRDFëVಢ
WLFRGXUDQWHHVWHSHULRGR
(QFDVRGHHPHUJHQFLDHVSRVLEOH
H[FHGHUHOOÞPLWHGHYHORFLGDGSLಢ
VDQGRFRQIXHU]DHOSHGDOGHODFHOHಢ
UDGRUFDVLKDVWDHOSXQWRILQDO(QHVWH
FDVRQRDSDUHFHQLQJëQDYLVRDFëVಢ
WLFR
6XHOWHHOSHGDOGHODFHOHUDGRU\OD
IXQFLäQGHOOLPLWDGRUGHYHORFLGDGVH
UHDFWLYDUÒHQFXDQWRFLUFXOHDXQDYHಢ
ORFLGDGLQIHULRUDODYHORFLGDGOÞPLWH
&RQGXFFLäQ\PDQHMR
'HVDFWLYDFLäQ
3XOVH\HOOLPLWDGRUGHYHORFLGDGVH
KDGHVDFWLYDGR\SXHGHFRQGXFLUHO
YHKÞFXORVLQOÞPLWHVGHYHORFLGDG
/DYHORFLGDGOLPLWDGDVHDOPDFHQDUÒ
\VHLQGLFDHQWUHSDUÚQWHVLVHQHO
&HQWURGHLQIRUPDFLäQGHOFRQGXFWRU
$GHPÒVDSDUHFHXQPHQVDMHFRUUHVಢ
SRQGLHQWH
5HFXSHUDUODYHORFLGDGOÞPLWH
*LUHODUXHGDGHDMXVWHD5
5(66H
HVWDEOHFHUÒHOOÞPLWHGHYHORFLGDGPHಢ
PRUL]DGR
'HVFRQH[LäQ
3XOVH/VHDSDJDUÒODLQGLFDFLäQGHO
OÞPLWHGHYHORFLGDGUHFRJLGDHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
6HERUUDODYHORFLGDGPHPRUL]DGD
3XOVDQGR>SDUDDFWLYDUHOUHJXODGRU
GHYHORFLGDGRHOFRQWUROGHYHORFLGDG
DGDSWDEOHWDPELÚQVHGHVDFWLYDHOOLಢ
PLWDGRUGHYHORFLGDG\VHERUUDODYHಢ
ORFLGDGPHPRUL]DGD
$OGHVFRQHFWDUHOHQFHQGLGRWDPELÚQ
VHGHVDFWLYDHOOLPLWDGRUGHYHORFLಢ
GDGSHURHOOÞPLWHGHYHORFLGDGVHDOಢ
PDFHQDUDSDUDODVLJXLHQWHDFWLYDಢ
FLäQGHOOLPLWDGRUGHYHORFLGDG
&RQWUROGHYHORFLGDG
DGDSWDEOH
(OFRQWUROGHYHORFLGDGDGDSWDEOH
$&&HVXQDPHMRUDGHOUHJXODGRUGH
YHORFLGDGWUDGLFLRQDOFRQODIXQFLäQ
DGLFLRQDOGHPDQWHQHUXQDFLHUWDGLVಢ
WDQFLDUHVSHFWRDOYHKÞFXORSUHFHಢ
GHQWH
(OFRQWUROGHYHORFLGDGDGDSWDEOHGHಢ
VDFHOHUDDXWRPÒWLFDPHQWHHOYHಢ
KÞFXORDODFHUFDUVHDXQYHKÞFXORHQ
PRYLPLHQWRDPHQRUYHORFLGDG$
FRQWLQXDFLäQDMXVWDODYHORFLGDGGHO
YHKÞFXORSDUDVHJXLUDOYHKÞFXORSUHಢ
FHGHQWHDODGLVWDQFLDKDFLDGHODQWH
VHOHFFLRQDGD/DYHORFLGDGGHOYHಢ
KÞFXORDXPHQWDRVHUHGXFHSDUDVHಢ
JXLUDOYHKÞFXORSUHFHGHQWHSHURQR
VXSHUDUÒODYHORFLGDGHVWDEOHFLGD(V
SRVLEOHTXHDSOLTXHXQIUHQDGROLPLಢ
WDGRFRQODVOXFHVGHIUHQRDFWLYDGDV
(OFRQWUROGHYHORFLGDGDGDSWDEOH
SXHGHPHPRUL]DU\PDQWHQHUYHORFLಢ
GDGHVVXSHULRUHVDNPKDSUR[Lಢ
PDGDPHQWH6LVLJXHDXQYHKÞFXOR
VLWXDGRGHODQWHTXHVHGHVSOD]DD
PHQRVGHNPKVHHVWDEOHFHUÒOD
YHORFLGDGLQIHULRU(QYHKÞFXORVFRQ
FDPELRDXWRPÒWLFRHOVLVWHPDVHGHಢ
WLHQH
(OFRQWUROGHYHORFLGDGDGDSWDEOHXWLಢ
OL]DXQVHQVRUGHUDGDUSDUDGHWHFWDU
ORVYHKÞFXORVSUHFHGHQWHV6LQRGHಢ
WHFWDODSUHVHQFLDGHYHKÞFXORVHQOD
UXWDGHFRQGXFFLäQHOFRQWUROGHYHಢ
ORFLGDGDGDSWDEOHDFWXDUÒFRPRXQ
UHJXODGRUGHYHORFLGDGWUDGLFLRQDO
3RUPRWLYRVGHVHJXULGDGHOVLVWHPD
QRSXHGHDFWLYDUVHDQWHVGHSLVDUHO
SHGDOGHOIUHQRRHPEUDJXHXQDYH]
GHVGHTXHVHFRQHFWHHOHQFHQGLGR
&RQGXFFLäQ\PDQHMR
3ULQFLSDOPHQWHVHDFRQVHMDHOXVR
GHOFRQWUROGHYHORFLGDGDGDSWDEOHHQ
FDUUHWHUDVFRQODUJDVUHFWDVFRPR
DXWRSLVWDVRFDUUHWHUDVVHFXQGDULDV
FRQWUÒILFRUHJXODU1RXWLOLFHHOVLVಢ
WHPDVLQRHVDFRQVHMDEOHPDQWHQHU
XQDYHORFLGDGFRQVWDQWH
7HVWLJRGHFRQWURO$>
&
&RQH[LäQ
$GYHUWHQFLD
6LHPSUHHVQHFHVDULDODFRPSOHWD
DWHQFLäQGHOFRQGXFWRUGXUDQWHOD
FRQGXFFLäQFRQHOFRQWUROGHYHORಢ
FLGDGDGDSWDEOH(OFRQGXFWRU
FRQVHUYDHOFRQWUROWRWDOGHOYHಢ
KÞFXORSRUTXHHOSHGDOGHIUHQRHO
GHODFHOHUDGRU\HOLQWHUUXSWRUGH
FDQFHODFLäQWLHQHQSULRULGDGVREUH
FXDOTXLHUIXQFLäQGHOFRQWUROGH
YHORFLGDGDGDSWDEOH
3XOVH&SDUDDFWLYDUHOFRQWUROGHYHಢ
ORFLGDGDGDSWDEOH6HHQFLHQGHHQ
EODQFRHOWHVWLJRGHFRQWURO>R&HQ
HOFXDGURGHLQVWUXPHQWRV
$FWLYDFLäQPHGLDQWHHODMXVWHGH
YHORFLGDG
(OFRQWUROGHYHORFLGDGDGDSWDEOH
SXHGHDFWLYDUVHDYHORFLGDGHVGHHQಢ
WUHNPK\NPK
$FHOHUHKDVWDDOFDQ]DUODYHORFLGDG
GHVHDGD\JLUHODUXHGDGHDMXVWHD
6(7VHPHPRUL]D\PDQWLHQHODYHಢ
ORFLGDGDFWXDO(OWHVWLJRGHFRQWURO
>R&GHOFXDGURGHLQVWUXPHQWRVVH
HQFLHQGHHQYHUGH
(OVÞPERORGHOFRQWUROGHYHORFLGDG
DGDSWDEOHHODMXVWHGHGLVWDQFLDKDಢ
FLDGHODQWH\ODYHORFLGDGHVWDEOHFLGD
VHLQGLFDQHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
6HSXHGHVROWDUHOSHGDOGHODFHOHUDಢ
GRU(OFRQWUROGHYHORFLGDGDGDSWDEOH
SHUPDQHFHDFWLYDGRFXDQGRVHFDPಢ
ELDGHPDUFKD
,QYDOLGDUODYHORFLGDGHVWDEOHFLGD
6LHPSUHHVSRVLEOHVXSHUDUODYHORFLಢ
GDGHVWDEOHFLGDSLVDQGRHOSHGDOGHO
DFHOHUDGRU$OVROWDUHODFHOHUDGRUHO
YHKÞFXORUHJUHVDUÒDODGLVWDQFLDGHಢ
VHDGDVLH[LVWLHUDXQYHKÞFXORSUHFHಢ
GHQWHPÒVOHQWR'HORFRQWUDULRUHಢ
JUHVDUÒDODYHORFLGDGDOPDFHQDGD
&RQGXFFLäQ\PDQHMR
8QDYH]DFWLYDGRHOVLVWHPDHOFRQಢ
WUROGHYHORFLGDGDGDSWDEOHUHGXFHOD
YHORFLGDGRIUHQDVLGHWHFWDXQYHಢ
KÞFXORSUHFHGHQWHDPHQRUYHORFLGDG
RPÒVFHUFDGHODGLVWDQFLDKDFLDGHಢ
ODQWHGHVHDGD
$GYHUWHQFLD
6LHOFRQGXFWRUDFHOHUDVHGHVDFಢ
WLYDODIUHQDGDDXWRPÒWLFDGHOVLVಢ
WHPD(VWRVHLQGLFDPHGLDQWHXQD
DGYHUWHQFLDHPHUJHQWHHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
$XPHQWDUODYHORFLGDG
&RQHOFRQWUROGHYHORFLGDGDGDSWDEOH
DFWLYRVXMHWHODUXHGDGHDMXVWHJLಢ
UDGDD5(6ODYHORFLGDGDXPHQWD
FRQWLQXDGDPHQWHHQJUDQGHVLQFUHಢ
PHQWRVRDFWLYHUHSHWLGDPHQWH
5(6ODYHORFLGDGDXPHQWDHQSHಢ
TXHâRVLQFUHPHQWRV
&RQHOFRQWUROGHYHORFLGDGDGDSWDEOH
DFWLYDGRVLHOYHKÞFXORFLUFXODDPXಢ
FKDPÒVYHORFLGDGGHODGHVHDGD
SRUHMHPSORWUDVSLVDUHODFHOHUDಢ
GRUSRGUÒPHPRUL]DU\PDQWHQHUOD
YHORFLGDGDFWXDOJLUDQGRODUXHGDGH
DMXVWHD6(7
(OFRQWUROGHYHORFLGDGDGDSWDEOH
DFXDOTXLHUYHORFLGDGHQ
YHKÞFXORVFRQFDPELRDXWRPÒWLFR
5HGXFLUODYHORFLGDG
(OFRQWUROGHYHORFLGDGDGDSWDEOHD
FXDOTXLHUYHORFLGDGPDQWHQGUÒODGLVಢ
WDQFLDFRQUHVSHFWRDXQYHKÞFXORGHಢ
WHFWDGRGHODQWH\ODYHORFLGDGGHVX
YHKÞFXORVHUHGXFLUÒKDVWDTXHHOYHಢ
KÞFXORVHGHWHQJDGHWUÒVGHORWUR
&XDQGRHOYHKÞFXORSUHFHGHQWHVH
DOHMDFRPRPÒ[LPRGRVPLQXWRVJLUH
ODUXHGDGHDMXVWHD5(6RSUHVLRQH
HODFHOHUDGRUDXQDYHORFLGDGGH
NPKSDUDYROYHUDDFWLYDUHOFRQಢ
WUROGHYHORFLGDGDGDSWDEOHDFXDOಢ
TXLHUYHORFLGDG
6LHOYHKÞFXORGHWHQLGRSUHFHGHQWH
HPSLH]DDGHVSOD]DUVH\HOFRQWUROGH
YHORFLGDGDGDSWDEOHDFXDOTXLHUYHORಢ
FLGDGQRVHKDYXHOWRDFWLYDUHOWHVಢ
WLJRGHFRQWUROGHOYHKÞFXORSUHFHಢ
GHQWHLOXPLQDGRHQYHUGH$SDUSDಢ
GHDUÒ\VHHVFXFKDUÒXQDYLVRDFëVಢ
WLFRSDUDUHFRUGDUOHTXHHOYHKÞFXOR
SUHFHGHQWHVHHVWÒPRYLHQGR
&XDQGRHOYHKÞFXORSUHFHGHQWHVH
GHWLHQHGXUDQWHPÒVGHGRVPLQXWRV
HOIUHQRGHHVWDFLRQDPLHQWRHOÚFWULFR
&RQHOFRQWUROGHYHORFLGDGDGDSWDEOH
DFWLYRVXMHWHODUXHGDGHDMXVWHJLಢ
UDGDD6(7ODYHORFLGDGGLVPLQX\H
FRQWLQXDGDPHQWHHQJUDQGHVLQFUHಢ
PHQWRVRDFWLYHUHSHWLGDPHQWH
6(7ODYHORFLGDGGLVPLQX\HHQSHಢ
TXHâRVLQFUHPHQWRV
&RQHOFRQWUROGHYHORFLGDGDGDSWDEOH
DFWLYDGRVLHOYHKÞFXORFLUFXODDPXಢ
FKDPHQRVYHORFLGDGGHODGHVHDGD
SRUHMHPSORSRUTXHKD\GHODQWHXQ
YHKÞFXORPÒVOHQWRSRGUÒPHPRULಢ
]DU\PDQWHQHUODYHORFLGDGDFWXDOJLಢ
UDQGRODUXHGDGHDMXVWHD6(7
5HVWDEOHFHUODYHORFLGDG
PHPRUL]DGD
6LHOVLVWHPDHVWÒHQFHQGLGRSHUR
LQDFWLYRJLUHODUXHGDGHDMXVWHD
5(6DXQDYHORFLGDGVXSHULRUD
NPKSDUDDOFDQ]DUODYHORFLGDG
DOPDFHQDGD
&RQGXFFLäQ\PDQHMR
VHDSOLFDGHIRUPDDXWRPÒWLFD\HO
FRQWUROGHYHORFLGDGDGDSWDEOHD
FXDOTXLHUYHORFLGDGVHGHVDFWLYDUÒ
(QHVHFDVRFRQGX]FDHOYHKÞFXOR
QRUPDOPHQWHDFFLRQDQGRHODFHOHUDಢ
GRU*LUHODUXHGDGHDMXVWHD5(6
DXQDYHORFLGDGVXSHULRUDNPK
SDUDYROYHUDOFRQWUROGHFUXFHUR
DGDSWDWLYRDFXDOTXLHUYHORFLGDG
$GYHUWHQFLD
&XDQGRVHGHVDFWLYDRFDQFHODHO
FRQWUROGHYHORFLGDGDGDSWDEOHD
FXDOTXLHUYHORFLGDGHOYHKÞFXORQR
FRQWLQXDUÒGHWHQLGR\SXHGHHPಢ
SH]DUDGHVSOD]DUVH3UHSÒUHVH
VLHPSUHSDUDDSOLFDUPDQXDOಢ
PHQWHHOIUHQRSDUDDSDUFDUHOYHಢ
KÞFXOR
1RDEDQGRQHHOYHKÞFXORPLHQWUDV
HOFRQWUROGHYHORFLGDGDGDSWDEOH
DFXDOTXLHUYHORFLGDGORHVWÒGHWHಢ
QLHQGR'HVSODFHVLHPSUHODSDಢ
ODQFDVHOHFWRUDDODSRVLFLäQGH
HVWDFLRQDPLHQWR3
3\DSDJXHHOHQಢ
FHQGLGRDQWHVGHDEDQGRQDUHOYHಢ
KÞFXOR
$MXVWHGHODGLVWDQFLDKDFLD
GHODQWH
&XDQGRHOFRQWUROGHYHORFLGDGDGDSಢ
WDEOHGHWHFWDXQYHKÞFXORPÒVOHQWR
HQVXUXWDDMXVWDUÒODYHORFLGDGGHO
YHKÞFXORSDUDPDQWHQHUODGLVWDQFLD
KDFLDGHODQWHVHOHFFLRQDGDSRUHO
FRQGXFWRU
/DGLVWDQFLDKDFLDGHODQWHSXHGH
DMXVWDUVHHQFHUFDQDPHGLDROHMDQD
3XOVH(HOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRUPRVWUDUÒHODMXVWHDFWXDO
3XOVHGHQXHYR(SDUDFDPELDUOD
GLVWDQFLDKDFLDGHODQWH(ODMXVWH
WDPELÚQVHYLVXDOL]DHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU
/DGLVWDQFLDKDFLDGHODQWHVHOHFFLRಢ
QDGDVHLQGLFDPHGLDQWHEDUUDVGH
GLVWDQFLDOOHQDVHQODSÒJLQDGHOFRQಢ
WUROGHYHORFLGDGDGDSWDEOH
2EVHUYHTXHHODMXVWHGHGLVWDQFLD
KDFLDGHODQWHVHFRPSDUWHFRQHO
DMXVWHGHVHQVLELOLGDGGHODDOHUWDGH
FROLVLäQIURQWDO
(MHPSOR6LVHOHFFLRQDHODMXVWHOHಢ
MRVHOFRQGXFWRUVHUÒDGYHUWLGRDQಢ
WHVGHXQDSRVLEOHFROLVLäQDGHPÒV
GHVLHOFRQWUROGHYHORFLGDGDGDSWDಢ
EOHHVWÒLQDFWLYRRDSDJDGR
&RQGXFFLäQ\PDQHMR
$GYHUWHQFLD
(OFRQGXFWRUDFHSWDODWRWDOUHVಢ
SRQVDELOLGDGUHVSHFWRDODGLVWDQಢ
FLDGHVHJXULGDGDGHFXDGDEDಢ
VÒQGRVHHQODVFRQGLFLRQHVPHಢ
WHRUROäJLFDVGHYLVLELOLGDG\GHO
WUÒILFR/DGLVWDQFLDGHVHJXULGDG
VHGHEHDMXVWDURHOVLVWHPDVH
GHVFRQHFWDUÒFXDQGRVHDQHFHಢ
VDULRGHELGRDODVFRQGLFLRQHV
SUHGRPLQDQWHV
'HWHFFLäQGHOYHKÞFXOR
SUHFHGHQWH
(OWHVWLJRGHFRQWUROYHKÞFXORGHಢ
ODQWH$LOXPLQDGRHQYHUGHDSDUHFH
FXDQGRHOVLVWHPDGHWHFWDXQYHಢ
KÞFXORHQVXWUD\HFWRULDGHFRQGXFಢ
FLäQ
$OHUWDGHFROLVLäQIURQWDO
6LHOVÞPERORQRDSDUHFHRDSDUHFH
EUHYHPHQWHHOFRQWUROGHYHORFLGDG
DGDSWDEOHQRUHVSRQGHUÒHQUHODFLäQ
DORVYHKÞFXORVSUHFHGHQWHV
'HVDFWLYDFLäQ
(OFRQGXFWRUGHVDFWLYDHOFRQWUROGH
YHORFLGDGDGDSWDEOHFXDQGR
ထ \HVWÒSXOVDGR
ထ 6HDFFLRQDHOSHGDOGHOIUHQR
ထ $OSLVDUHOSHGDOGHOHPEUDJXH
GXUDQWHPÒVGH
FXDWURVHJXQGRV
ထ /DSDODQFDGHFDPELRGHPDUಢ
FKDVGHODWUDQVPLVLäQDXWRPÒಢ
WLFDVHGHVSOD]DD1
1
$GHPÒVHOVLVWHPDVHGHVDFWLYDUÒ
DXWRPÒWLFDPHQWHFXDQGR
ထ /DYHORFLGDGGHOYHKÞFXORVHDFHಢ
OHUDSRUHQFLPDGHNPKRVH
UHGXFHSRUGHEDMRGHNPKHQ
YHKÞFXORVFRQFDPELRDXWRPÒಢ
WLFRVHUHGXFHODYHORFLGDGKDVWD
GHWHQHUVHVLQGHVDFWLYDUVHHQXQ
PÒ[LPRGHGRVPLQXWRV
ထ (OVLVWHPDGHFRQWUROGHWUDFFLäQ
VHHQFXHQWUDHQIXQFLRQDPLHQWR
ထ
$OLQWHUYHQLUHOFRQWUROHOHFWUäQLFR
GHHVWDELOLGDG
ထ 1RKD\WUÒILFR\QRVHGHWHFWD
QDGDHQORVODGRVGHODFDUUHWHUD
GXUDQWHYDULRVPLQXWRV(QHVWH
FDVRQRH[LVWHQHFRVGHOUDGDU\
HOVHQVRUSXHGHLQIRUPDUGHVX
EORTXHR
ထ (OVLVWHPDGHIUHQDGRSRUFROLಢ
VLäQLQPLQHQWHHVWÒDFFLRQDQGR
ORVIUHQRV
ထ (OVHQVRUGHUDGDUHVWÒEORಢ
TXHDGRSRUXQDSHOÞFXODGHKLHOR
RDJXD
ထ 6HGHWHFWDXQDDYHUÞDHQHOUDಢ
GDUHOPRWRURHOVLVWHPDGHIUHಢ
QRV
$GHPÒVHOVLVWHPDVHGHVDFWLYDDXಢ
WRPÒWLFDPHQWHHQYHKÞFXORVFRQ
FDPELRDXWRPÒWLFRFRQWUROGHYHORಢ
FLGDGDGDSWDEOHDFXDOTXLHUYHORFLಢ
GDGFXDQGR
&RQGXFFLäQ\PDQHMR
ထ
(OIUHQRGHHVWDFLRQDPLHQWRHOÚFಢ
WULFRHVWÒDFFLRQDGR
ထ (OVLVWHPDGHWLHQHDOYHKÞFXOR
GXUDQWHPÒVGHGRVPLQXWRV
ထ (OYHKÞFXORVHGHWLHQHVHGHVDಢ
EURFKDHOFLQWXUäQGHVHJXULGDG
GHOFRQGXFWRU\VHDEUHODSXHUWD
GHOFRQGXFWRU
6LHOFRQWUROGHYHORFLGDGDGDSWDEOH
VHGHVDFWLYDDXWRPÒWLFDPHQWHHO
WHVWLJRGHFRQWURO>R&VHLOXPLQD
HQEODQFR\DSDUHFHXQPHQVDMHGH
DGYHUWHQFLDHPHUJHQWHHQHOFHQWUR
GHLQIRUPDFLäQGHOFRQGXFWRU
6HPDQWLHQHODYHORFLGDGPHPRULಢ
]DGD
$GYHUWHQFLD
'HVFRQH[LäQ
3XOVH&SDUDGHVDFWLYDUHOFRQWUROGH
YHORFLGDGDGDSWDEOH(OWHVWLJRGH
FRQWURO>R&VHDSDJD6HERUUDOD
YHORFLGDGPHPRUL]DGD
$SDJDUHOHQFHQGLGRWDPELÚQGHVDFಢ
WLYDUÒHOFRQWUROGHYHORFLGDGDGDSWDಢ
EOH\HOLPLQDUÒODYHORFLGDGDOPDFHಢ
QDGD
VHQVRUGHUDGDUSRGUÞDHVWDUFXಢ
ELHUWRSRUXQDSHOÞFXODGHDJXD
SROYRKLHORRQLHYH(VWRUHGXFLಢ
UÞDRHOLPLQDUÞDFRPSOHWDPHQWH
VXYLVLELOLGDG$QWHXQEORTXHR
GHOVHQVRUSURFHGDDODOLPSLH]D
GHVXFXELHUWD
/ÞPLWHVGHOVLVWHPD
ထ
$WHQFLäQGHOFRQGXFWRU
ထ
ထ
&RQHOFRQWUROGHFUXFHURDGDSWDಢ
WLYRGHVDFWLYDGRHOFRQGXFWRU
GHEHHQFDUJDUVHGHOFRQWUROGHO
IUHQR\HOPRWRU
ထ
8VHFRQFXLGDGRHOFRQWUROGHYHಢ
ORFLGDGDGDSWDEOHHQFXUYDVR
FDUUHWHUDVGHPRQWDâD\DTXH
SRGUÞDSHUGHUDOYHKÞFXORSUHFHಢ
GHQWH\UHTXHULUXQWLHPSRSDUD
YROYHUDGHWHFWDUOR
1RXWLOLFHHOVLVWHPDDOFRQGXFLU
VREUHILUPHVUHVEDODGL]RV\D
TXHSXHGHSURYRFDUFDPELRVUÒಢ
SLGRVHQODWUDFFLäQGHORVQHXಢ
PÒWLFRVKDFHUTXHODVUXHGDV
SDWLQHQ\RFDVLRQDUSÚUGLGDVGH
FRQWUROGHOYHKÞFXOR
1RXWLOLFHHOFRQWUROGHYHORFLGDG
DGDSWDEOHEDMRFRQGLFLRQHVGH
OOXYLDQLHYHRJUDQGHVDFXPXODಢ
FLRQHVGHVXFLHGDG\DTXHHO
ထ
ထ
/DIXHU]DGHIUHQDGRDXWRPÒWLFD
GHOVLVWHPDQRSHUPLWHUHDOL]DU
IUHQDGDVEUXVFDV\HOQLYHOGH
IUHQDGRSRGUÞDVHULQVXILFLHQWH
SDUDHYLWDUXQDFROLVLäQ
7UDVXQFDPELRUHSHQWLQRGHFDಢ
UULOHOVLVWHPDQHFHVLWDXQFLHUWR
WLHPSRSDUDGHWHFWDUDOVLJXLHQWH
YHKÞFXORSUHFHGHQWH$VÞDQWH
XQQXHYRYHKÞFXORGHWHFWDGRHO
VLVWHPDSRGUÞDDFHOHUDUHQOXJDU
GHIUHQDU
(OFRQWUROGHYHORFLGDGDGDSWDEOH
LJQRUDHOWUÒILFRSUHFHGHQWH
&RQGXFFLäQ\PDQHMR
ထ
ထ
(OFRQWUROGHYHORFLGDGDGDSWDEOH
QRIUHQDVLGHWHFWDSHDWRQHVDQLಢ
PDOHVFRQGXFFLäQDPX\EDMD
YHORFLGDGRYHKÞFXORVSDUDGRV
1RXWLOLFHHOFRQWUROGHYHORFLGDG
DGDSWDEOHDOFLUFXODUFRQUHPROಢ
TXH
&XUYDV
(OFRQWUROGHYHORFLGDGDGDSWDEOHFDOಢ
FXODXQDUXWDSUHYLVWDHQEDVHDOD
IXHU]DFHQWUÞIXJD(VWDUXWDSUHYLVWD
FRQVLGHUDODFDUDFWHUÞVWLFDGHODFXUYD
DFWXDOSHURQRSXHGHWHQHUHQFXHQWD
XQIXWXURFDPELRGHODFXUYD(OVLVಢ
WHPDSXHGHSHUGHUDOYHKÞFXORSUHFHಢ
GHQWHRGHWHFWDUXQYHKÞFXORTXHUHDOಢ
PHQWHQRHVWÒHQHOPLVPRFDUULO(VWR
SXHGHVXFHGHUDOHQWUDURVDOLUGHXQD
FXUYDRVLÚVWDVHFLHUUDRDEUHGHUHಢ
SHQWH6L\DQRGHWHFWDQLQJëQYHಢ
KÞFXORSUHFHGHQWHHOWHVWLJRGHFRQಢ
WURO$VHDSDJDUÒ
6LODIXHU]DFHQWUÞIXJDHVGHPDVLDGR
DOWDHQXQDFXUYDHOVLVWHPDUHGXFH
OLJHUDPHQWHODYHORFLGDGGHOYHKÞFXOR
(VWHQLYHOGHIUHQDGRQRHVWÒGLVHಢ
âDGRSDUDHYLWDUODVDOLGDGHODFXUYD
(OFRQGXFWRUHVHOUHVSRQVDEOHGHUHಢ
GXFLUODYHORFLGDGVHOHFFLRQDGDDQWHV
GHWRPDUXQDFXUYD\HQJHQHUDOGH
DGDSWDUODYHORFLGDGDOWLSRGHFDUUHಢ
WHUD\DORVOÞPLWHVGHYHORFLGDGH[LVಢ
WHQWHV
QDUHOYHKÞFXORDWLHPSRSDUDHYLWDU
XQDFROLVLäQFRQXQYHKÞFXORDXQD
YHORFLGDGPXFKRPHQRURWUDVXQ
FDPELRGHFDUULO(VWRUHVXOWDHVSHಢ
FLDOPHQWHFLHUWRDOFRQGXFLUDJUDQ
YHORFLGDGRVLODVFRQGLFLRQHVDWPRVಢ
IÚULFDVUHVXOWDQHQYLVLELOLGDGUHGXಢ
FLGD
$OHQWUDURVDOLUGHXQDDXWRSLVWDHO
FRQWUROGHYHORFLGDGDGDSWDEOHSRGUÞD
SHUGHUDOYHKÞFXORSUHFHGHQWH\DFHಢ
OHUDUKDVWDODYHORFLGDGHVWDEOHFLGD
3RUHVWHPRWLYRUHGX]FDODYHORFLGDG
HVWDEOHFLGDDQWHVGHVDOLURHQWUDUHQ
ODDXWRSLVWD
&DPELRVHQODUXWDGHOYHKÞFXOR
$XWRSLVWDV
(QDXWRSLVWDVDGDSWHODYHORFLGDG
HVWDEOHFLGDDODVLWXDFLäQ\ODVFRQGLಢ
FLRQHVDWPRVIÚULFDVUHLQDQWHV5Hಢ
FXHUGHVLHPSUHTXHHOFRQWUROGHYHಢ
ORFLGDGDGDSWDEOHWLHQHXQDOFDQFHGH
YLVLELOLGDGOLPLWDGDXQQLYHOGHIUHಢ
QDGROLPLWDGR\XQFLHUWRWLHPSRGH
UHDFFLäQTXHYHULILFDUSDUDFRQRFHUVL
XQYHKÞFXORHVWÒRQRHQVXUXWDGH
FRQGXFFLäQ(VSRVLEOHTXHHOFRQWURO
GHYHORFLGDGDGDSWDEOHQRORJUHIUHಢ
6LRWURYHKÞFXORHQWUDHQVXUXWDGH
FRQGXFFLäQHOFRQWUROGHYHORFLGDG
DGDSWDEOHWHQGUÒHQFXHQWDDOYHಢ
KÞFXORXQDYH]TXHHVWHVHHQFXHQWUH
&RQGXFFLäQ\PDQHMR
FRPSOHWDPHQWHHQVXUXWD(VWÚSUHಢ
SDUDGRSDUDDFWXDU\SLVHHOSHGDOGHO
IUHQRVLIXHUDQHFHVDULRIUHQDUFRQ
PD\RUFHOHULGDG
&RQVLGHUDFLRQHVHQSHQGLHQWH\FRQ
UHPROTXH
2EVHUYHTXHHODFFLRQDPLHQWRGHO
IUHQRGHVDFWLYDHOVLVWHPD1RVHUHಢ
FRPLHQGDHOXVRGHOFRQWUROGHYHORಢ
FLGDGDGDSWDEOHHQSHQGLHQWHVSURಢ
QXQFLDGDV
8QLGDGGHUDGDU
HOVLVWHPDGHVSXÚVGHXQFKRTXH
IURQWDO$XQTXHHOSDUDFKRTXHV
GHODQWHURSDUH]FDLQWDFWRHOVHQಢ
VRUSXHGHHVWDUIXHUDGHSRVLFLäQ
\UHDFFLRQDUGHIRUPDLQFRUUHFWD
'HVSXÚVGHXQDFFLGHQWHDFXGD
DXQWDOOHUSDUDYHULILFDU\FRUUHJLU
ODSRVLFLäQGHOVHQVRUGHOFRQWURO
GHYHORFLGDGDGDSWDEOH
&RQILJXUDFLäQ
(OUHQGLPLHQWRGHOVLVWHPDHQSHQಢ
GLHQWHVGHSHQGHUÒGHODYHORFLGDG
GHOYHKÞFXORGHODFDUJDGHOYHKÞFXOR
GHODVFRQGLFLRQHVGHOWUÒILFR\ODSHQಢ
GLHQWHGHLQFOLQDFLäQGHODFDUUHWHUD
(OVLVWHPDSRGUÞDQRGHWHFWDUXQYHಢ
KÞFXORHQVXFDPLQRGXUDQWHODFRQಢ
GXFFLäQHQSHQGLHQWH(QSHQGLHQWHV
SURQXQFLDGDVHVSRVLEOHTXHGHED
XVDUHOSHGDOGHODFHOHUDGRUSDUD
PDQWHQHUODYHORFLGDGGHOYHKÞFXOR
$OFRQGXFLUFXHVWDDEDMRHVSRVLEOH
TXHGHEDIUHQDUSDUDPDQWHQHURUHಢ
GXFLUVXYHORFLGDG
/DXQLGDGGHUDGDUHVWÒPRQWDGDWUDV
ODUHMLOODGHOUDGLDGRUEDMRHOHPEOHPD
GHODPDUFD
$GYHUWHQFLD
/DXQLGDGGHUDGDUIXHDOLQHDGD
FXLGDGRVDPHQWHGXUDQWHODIDEULಢ
FDFLäQ3RUHVRQRVHGHEHXWLOL]DU
/RVDMXVWHVVHSXHGHQPRGLILFDUHQHO
PHQëGHSHUVRQDOL]DFLäQGHOYHKÞFXOR
HQODSDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$YHUÞD
6LHOFRQWUROGHYHORFLGDGDGDSWDEOH
QRIXQFLRQDUDGHELGRDFRQGLFLRQHV
WHPSRUDOHVFRPRXQEORTXHRSRU
KLHORRDQWHXQHUURUSHUPDQHQWHGHO
VLVWHPDDSDUHFHXQPHQVDMHHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
&RQGXFFLäQ\PDQHMR
ထ
0HQVDMHVGHOYHKÞFXOR
$OHUWDGHFROLVLäQIURQWDO
/DDOHUWDGHFROLVLäQIURQWDOSXHGH
D\XGDUDHYLWDURUHGXFLUORVGDâRV
RFDVLRQDGRVSRUXQFKRTXHIURQWDO
8QYHKÞFXORTXHVHHQFXHQWUDGHಢ
ODQWHVHLQGLFDPHGLDQWHXQWHVWLJRGH
FRQWURO$
6LVHDSUR[LPDGHPDVLDGRUÒSLGRD
XQYHKÞFXORGLUHFWDPHQWHLQPHGLDWR
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRUHPLWLUÒXQVRQLGRGHDGYHUWHQFLD\
XQDDOHUWD
(VLPSUHVFLQGLEOHTXHODDOHUWDGHFRಢ
OLVLäQIURQWDOHVWÚDFWLYDGDHQHOPHQë
GHSHUVRQDOL]DFLäQGHOYHKÞFXOR
RTXHQRVHKDGHVDFWLYDGR
SXOVDQGR9GHSHQGHGHOVLVWHPD
FRQVXOWHPÒVDGHODQWH
'HSHQGLHQGRGHOHTXLSDPLHQWRGHO
YHKÞFXORH[LVWHQGRVYDULDQWHVGLVಢ
SRQLEOHVGHODDOHUWDGHFROLVLäQIURQಢ
WDO
ထ $OHUWDGHFROLVLäQIURQWDOEDVDGD
HQHOVLVWHPDGHUDGDU
HQYHKÞFXORVHTXLSDGRVFRQFRQಢ
WUROGHYHORFLGDGDGDSWDEOH
$OHUWDGHFROLVLäQIURQWDOEDVDGD
HQHOVLVWHPDGHODFÒPDUD
GHODQWHUD
HQYHKÞFXORVVLQFRQWUROGHFUXಢ
FHURRVRODPHQWHHOFRQWUROGH
FUXFHURWUDGLFLRQDO
$OHUWDGHFROLVLäQIURQWDOEDVDGD
HQHOVLVWHPDGHUDGDU
(OVLVWHPDXWLOL]DHOVHQVRUGHUDGDU
VLWXDGRWUDVODUHMLOODGHOUDGLDGRUSDUD
GHWHFWDUODGLVWDQFLDDXQYHKÞFXORGLಢ
UHFWDPHQWHSUHFHGHQWHHQVXWUD\HFಢ
WRULDKDVWDXQDGLVWDQFLDPÒ[LPDGH
PHWURV
$FWLYDFLäQ
/DDOHUWDGHFROLVLäQIURQWDOIXQFLRQD
DXWRPÒWLFDPHQWHSRUHQFLPDGHOD
YHORFLGDGGHPDUFKDKXPDQDVLVH
DFWLYD3
3UHSDUDFLäQSDUDFROLVLäQHQHO
PHQëGHSHUVRQDOL]DFLäQGHOYHKÞFXOR
&RQGXFFLäQ\PDQHMR
6HOHFFLäQGHVHQVLELOLGDGGHODDOHUWD
/DVHQVLELOLGDGGHODDOHUWDVHSXHGH
DMXVWDUDFHUFDPHGLRROHMRV
WUDGHODQWHHVGHPDVLDGRFRUWDRDO
DSUR[LPDUVHDRWURYHKÞFXORGHPDಢ
VLDGRUÒSLGR
$WHQFLäQ
3XOVH(HOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRUPRVWUDUÒHODMXVWHDFWXDO
3XOVH(GHQXHYRSDUDFDPELDUOD
VHQVLELOLGDGGHODDOHUWD(ODMXVWH
WDPELÚQVHYLVXDOL]DHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU
2EVHUYHTXHHODMXVWHGHVHQVLELOLGDG
GHODDOHUWDVHFRPSDUWHFRQHOVLಢ
JXLHQWHDMXVWHGHGLVWDQFLDGHOFRQWURO
GHFUXFHURDGDSWDWLYR$VÞDO
PRGLILFDUODVHQVLELOLGDGGHODDODUPD
FDPELDUÒWDPELÚQHODMXVWHGHGLVWDQಢ
FLDGHVHJXLPLHQWRGHOFRQWUROGHYHಢ
ORFLGDGDGDSWDEOH
$OHUWDDOFRQGXFWRU
8QWHVWLJRGHFRQWUROGHYHKÞFXORSUHಢ
FHGHQWH$VHLOXPLQDHQYHUGHHQHO
FXDGURGHLQVWUXPHQWRVFXDQGRHO
VLVWHPDKDGHWHFWDGRXQYHKÞFXORHQ
VXWUD\HFWRULDGHFRQGXFFLäQ(OWHVಢ
WLJRGHFRQWURO$FDPELDDFRORUDPDಢ
ULOORFXDQGRODGLVWDQFLDKDVWDXQYHಢ
KÞFXORHQPRYLPLHQWRTXHVHHQFXHQಢ
/DLOXPLQDFLäQHQFRORUGHHVWHLQಢ
GLFDGRUGHFRQWUROQRVHFRUUHVಢ
SRQGHFRQODVOH\HVGHFLUFXODFLäQ
YLDOORFDOHVSDUDGLVWDQFLDGHVHಢ
JXULGDG(OFRQGXFWRUHVSOHQR
UHVSRQVDEOHGHPDQWHQHUODGLVಢ
WDQFLDGHVHJXULGDGDSURSLDGDHQ
WRGRPRPHQWRFRQIRUPHDODVQRUಢ
PDVGHWUÒILFRDSOLFDEOHVODPHಢ
WHRURORJÞD\ODVFRQGLFLRQHVGHOD
FDUUHWHUDHWF
6LXQDFROLVLäQHVLQPLQHQWHHOVÞPಢ
ERORGHDOHUWDGHFROLVLäQHPHUJHHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFWR
&RQGXFFLäQ\PDQHMR
\VXHQDXQDYLVRDFëVWLFR3LVHHOSHಢ
GDOGHOIUHQRVLODVLWXDFLäQORUHಢ
TXLHUH
&RQILJXUDFLäQ
/RVDMXVWHVVHSXHGHQPRGLILFDUHQHO
PHQëGHSHUVRQDOL]DFLäQGHOYHKÞFXOR
HQODSDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$FWLYDFLäQ
/DDOHUWDGHFROLVLäQIURQWDOIXQFLRQD
DXWRPÒWLFDPHQWHDXQDYHORFLGDGVXಢ
SHULRUDNPKVLQRVHKDGHVDFWLಢ
YDGRSXOVDQGR9YÚDVHHODSDUWDGR
VLJXLHQWH
6HOHFFLäQGHVHQVLELOLGDGGHODDOHUWD
/DVHQVLELOLGDGGHODDOHUWDVHSXHGH
DMXVWDUDFHUFDPHGLRROHMRV
$OHUWDDOFRQGXFWRU
8QWHVWLJRGHFRQWUROGHYHKÞFXORSUHಢ
FHGHQWH$VHLOXPLQDHQYHUGHHQHO
FXDGURGHLQVWUXPHQWRVFXDQGRHO
VLVWHPDKDGHWHFWDGRXQYHKÞFXORHQ
VXWUD\HFWRULDGHFRQGXFFLäQ
$OHUWDGHFROLVLäQIURQWDOEDVDGD
HQHOVLVWHPDGHODFÒPDUD
GHODQWHUD
/DDOHUWDGHFROLVLäQIURQWDOXWLOL]DHO
VLVWHPDGHFÒPDUDIURQWDOHQHOSDUDಢ
EULVDVSDUDGHWHFWDUXQYHKÞFXORGLಢ
UHFWDPHQWHSUHFHGHQWHHQVXWUD\HFಢ
WRULDKDVWDXQDGLVWDQFLDGH
PHWURVDSUR[LPDGDPHQWH
3XOVH9HOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRUPRVWUDUÒHODMXVWHDFWXDO
3XOVH9GHQXHYRSDUDFDPELDUOD
VHQVLELOLGDGGHODDOHUWD
&XDQGRODGLVWDQFLDFRQUHVSHFWRD
XQYHKÞFXORHQPRYLPLHQWRTXHVHHQಢ
FXHQWUDGHODQWHHVGHPDVLDGRFRUWDR
&RQGXFFLäQ\PDQHMR
DODSUR[LPDUVHDRWURYHKÞFXORGHPDಢ
VLDGRUÒSLGRFRQSRVLELOLGDGGHFROLಢ
VLäQLQPLQHQWHDSDUHFHHOVÞPEROR
GHDOHUWDGHFROLVLäQHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU
6LPXOWÒQHDPHQWHVXHQDXQDYLVR
DFëVWLFR3LVHHOSHGDOGHOIUHQRVLOD
VLWXDFLäQORUHTXLHUH
'HVDFWLYDFLäQ
(OVLVWHPDVHSXHGHGHVDFWLYDU
3XOVH9UHSHWLGDPHQWHKDVWDTXH
DSDUH]FD6
6LVWHPDGH$OHUWDFROLVLäQ
GHODQWHUDGHVFRQWHFWDGRHQHOFHQWUR
GHLQIRUPDFLäQDOFRQGXFWRU
,QIRUPDFLäQJHQHUDOSDUDDPEDV
YDULDQWHVGHODDOHUWDGHFROLVLäQ
IURQWDO
$GYHUWHQFLD
/DDOHUWDGHFROLVLäQIURQWDOHVWDQ
VRORXQVLVWHPDGHDGYHUWHQFLD\
QRDFFLRQDORVIUHQRV$ODSUR[Lಢ
PDUVHGHPDVLDGRGHSULVDDXQYHಢ
KÞFXORSUHFHGHQWHSRGUÞDQRGLVಢ
SRQHUGHWLHPSRVXILFLHQWHSDUD
HYLWDUXQDFROLVLäQ
(OFRQGXFWRUDFHSWDODWRWDOUHVಢ
SRQVDELOLGDGUHVSHFWRDODGLVWDQಢ
FLDGHVHJXULGDGDGHFXDGDEDಢ
VÒQGRVHHQODVFRQGLFLRQHVPHಢ
WHRUROäJLFDVGHYLVLELOLGDG\GHO
WUÒILFR
6LHPSUHHVQHFHVDULDODFRPSOHWD
DWHQFLäQGHOFRQGXFWRUDOFRQGXಢ
FLU(OFRQGXFWRUGHEHHVWDUVLHPಢ
SUHOLVWRSDUDWRPDUPHGLGDV\DFಢ
FLRQDUORVIUHQRV
/LPLWDFLRQHVGHOVLVWHPD
(OVLVWHPDKDVLGRGLVHâDGRSDUDDGಢ
YHUWLUëQLFDPHQWHGHODSUHVHQFLDGH
YHKÞFXORVDXQTXHWDPELÚQSRGUÞD
UHDFFLRQDUDQWHRWURVREMHWRVPHWÒOLಢ
FRV
/DDOHUWDGHFROLVLäQIURQWDOSXHGH
TXHQRGHWHFWHXQYHKÞFXORTXHYD
GHODQWHRHOIXQFLRQDPLHQWRGHOVHQಢ
VRUSXHGHVHUOLPLWDGRHQORVVLJXLHQಢ
WHVFDVRV
ထ
ထ
ထ
HQFDUUHWHUDVVLQXRVDV
FXDQGRODVFRQGLFLRQHVPHWHRURಢ
OäJLFDVOLPLWDQODYLVLELOLGDG
SHMQLHEODOOXYLDRQLHYH
FXDQGRHOVHQVRUHVWÒREVWUXLGR
SRUODSUHVHQFLDGHQLHYHKLHOR
DJXDQLHYHVXFLHGDGRGDâRVHQ
HOSDUDEULVDV
,QGLFDFLäQGHGLVWDQFLD
KDFLDGHODQWH
/DLQGLFDFLäQGHGLVWDQFLDGHVHJXLಢ
PLHQWRPXHVWUDODGLVWDQFLDUHVSHFWR
DXQYHKÞFXORHQPRYLPLHQWRTXHQRV
SUHFHGH(OVLVWHPDXVDGHSHQಢ
GLHQGRGHOHTXLSDPLHQWRGHOYHಢ
KÞFXORHOUDGDUVLWXDGRWUDVODUHMLOOD
GHOUDGLDGRURODFÒPDUDIURQWDOGHO
SDUDEULVDVSDUDGHWHFWDUODGLVWDQFLD
DXQYHKÞFXORGLUHFWDPHQWHSUHFHಢ
GHQWHHQVXFDUULO6HDFWLYDDYHORFLಢ
GDGHVVXSHULRUHVDNPK
6LVHGHWHFWDXQYHKÞFXORTXHFLUFXOD
SRUGHODQWHODGLVWDQFLDVHLQGLFDHQ
IRUPDGHVHJXQGRV\VHPXHVWUDHQ
XQDSÒJLQDGHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU
&RQGXFFLäQ\PDQHMR
(QODSDQWDOODGHQLYHOEÒVLFRVHOHFಢ
FLRQH&
&RQILJXUDFLäQ;FRQHOERಢ
WäQ0HQë\VHOHFFLRQHODHQWUDGDGH
,QGLFDFLäQGHGLVWDQFLDGHVHJXULGDG
PHGLDQWHODUXHGDGHDMXVWHHQODSDಢ
ODQFDGHOLQWHUPLWHQWH
(QODSDQWDOODGHQLYHOLQWHUPHGLR\GH
QLYHOVXSHULRUVHOHFFLRQHHOPHQë
,QIRUPDFLäQ\SXOVHRSDUDVHOHFಢ
FLRQDU,,QGLFDFLäQGHGLVWDQFLDGH
VHJXULGDG
/DGLVWDQFLDPÞQLPDLQGLFDGDHVGH
VHJXQGRV
6LQRKD\YHKÞFXORVSUHFHGHQWHVR
ÚVWRVHVWÒQIXHUDGHDOFDQFHVHPRVಢ
WUDUÒQGRVJXLRQHVV
6LVHDFWLYDHOFRQWUROFUXFHURDGDSಢ
WDWLYRHVWDSÒJLQDPXHVWUDHODMXVWH
GHODGLVWDQFLDGHVHJXULGDGDFDPELR
)UHQDGDGHHPHUJHQFLD
DFWLYD
/DIUHQDGDGHHPHUJHQFLDDFWLYD
SXHGHD\XGDUDUHGXFLUORVGDâRVVXಢ
IULGRVHQFKRTXHVFRQYHKÞFXORV\
REVWÒFXORVVLWXDGRVGLUHFWDPHQWHGHಢ
ODQWHFXDQGRQRVHDSRVLEOHLPSHGLU
XQDFROLVLäQPHGLDQWHHOIUHQDGRPDಢ
QXDORPRYLHQGRHOYRODQWH$QWHVGH
DFFLRQDUVHODIUHQDGDGHHPHUJHQFLD
DFWLYDVHDGYLHUWHDOFRQGXFWRUPHಢ
GLDQWHODDOHUWDGHFROLVLäQIURQWDO
/DIXQFLäQHPSOHDGLVWLQWDVHQWUDGDV
FRPRHOVHQVRUGHUDGDUODSUHVLäQ
GHOIUHQRODYHORFLGDGGHOYHKÞFXOR
SDUDFDOFXODUODSUREDELOLGDGGHXQD
FROLVLäQIURQWDO
/DIUHQDGDGHHPHUJHQFLDDFWLYDIXQಢ
FLRQDDXWRPÒWLFDPHQWHSRUHQFLPD
GHODYHORFLGDGGHPDUFKDKXPDQD
VLHPSUHTXHODRSFLäQ3
3UHSDUDFLäQ
SDUDFROLVLäQQRHVWÚGHVDFWLYDGDHQ
HOPHQëGHSHUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
(OVLVWHPDLQFOX\H
ထ VLVWHPDGHSUHSDUDFLäQGHOIUHQR
ထ IUHQDGRDXWRPÒWLFRGH
HPHUJHQFLD
ထ DVLVWHQWHGHIUHQDGDGHYLVLäQ
IURQWDO
$GYHUWHQFLD
(OREMHWLYRGHHVWHVLVWHPDQRHV
VXVWLWXLUODUHVSRQVDELOLGDGGHO
FRQGXFWRUHQODFRQGXFFLäQGHO
YHKÞFXOR\VXDWHQFLäQHQODFDUUHಢ
WHUD(VWDIXQFLäQHVWÒOLPLWDGDD
XQXVRDX[LOLDU(OFRQGXFWRUGHಢ
EHUÒVHJXLUDFFLRQDQGRHOSHGDO
GHIUHQRVHJëQGLFWHHOHVWDGRGH
ODFRQGXFFLäQ
6LVWHPDGHSUHSDUDFLäQGHOIUHQR
$ODFHUFDUVHDXQYHKÞFXORSUHFHಢ
GHQWHWDQUÒSLGRTXHVHSUHYÚXQD
FROLVLäQHOVLVWHPDGHSUHSDUDFLäQ
GHOIUHQRSUHVXUL]DOLJHUDPHQWHHVWRV
&RQGXFFLäQ\PDQHMR
'HHVWDIRUPDVHUHGXFHHOWLHPSRGH
UHVSXHVWDFXDQGRVHUHTXLHUHXQIUHಢ
QDGRPDQXDORDXWRPÒWLFR
(OVLVWHPDGHIUHQRVHVWÒSUHSDUDGR
SDUDTXHHOIUHQDGRSXHGDVXFHGHU
PÒVUÒSLGDPHQWH
)UHQDGRDXWRPÒWLFRGH
HPHUJHQFLD
7UDVODSUHSDUDFLäQGHOIUHQR\MXVWR
DQWHVGHODFROLVLäQLQPLQHQWHHVWD
IXQFLäQDSOLFDDXWRPÒWLFDPHQWHXQ
IUHQDGROLPLWDGRSDUDUHGXFLUODYHORಢ
FLGDGGHLPSDFWRGHODFROLVLäQ
$XQDYHORFLGDGLQIHULRUDNPKHO
VLVWHPDSXHGHDSOLFDUORVIUHQRVFRPಢ
SOHWDPHQWH
$VLVWHQWHGHIUHQDGDGHYLVLäQ
IURQWDO
$GHPÒVGHOVLVWHPDGHSUHSDUDFLäQ
GHOIUHQR\HOIUHQDGRDXWRPÒWLFRGH
HPHUJHQFLDODIXQFLäQGHODVLVWHQWH
GHIUHQDGDGHYLVLäQIURQWDOORJUDTXH
HODVLVWHQWHGHIUHQDGDVHDDëQPÒV
VHQVLEOH3RUWDQWRSLVDUHOSHGDOGHO
IUHQRFRQPHQRVIXHU]DGHULYDHQXQD
IXHUWHIUHQDGDLQPHGLDWD(VWDIXQಢ
FLäQD\XGDDOFRQGXFWRUDIUHQDUFRQ
PÒVUDSLGH]\PÒVIXHUWHDQWHVGHOD
FROLVLäQLQPLQHQWH
$GYHUWHQFLD
/DIUHQDGDGHHPHUJHQFLDDFWLYD
QRHVWÒGLVHâDGDSDUDDSOLFDU
IXHUWHVIUHQDGDVDXWäQRPDVRHYLಢ
WDUDXWRPÒWLFDPHQWHXQDFROLVLäQ
(VWÒGLVHâDGRSDUDUHGXFLUODYHಢ
ORFLGDGGHOYHKÞFXORDQWHVGHXQD
FROLVLäQ3RGUÞDQRUHDFFLRQDU
DQWHYHKÞFXORVGHWHQLGRVSHDWRಢ
QHVRDQLPDOHV7UDVXQFDPELR
UHSHQWLQRGHFDUULOHOVLVWHPDQHಢ
FHVLWDFLHUWRWLHPSRSDUDGHWHFWDU
HOVLJXLHQWHYHKÞFXORSUHFHGHQWH
6LHPSUHHVQHFHVDULDODFRPSOHWD
DWHQFLäQGHOFRQGXFWRUDOFRQGXಢ
FLU(OFRQGXFWRUVLHPSUHGHEHHVಢ
WDUSUHSDUDGRSDUDDFWXDUIUHQDU\
PDQHMDUHOYRODQWHSDUDHYLWDUFRಢ
OLVLRQHV(OVLVWHPDHVWÒGLVHâDGR
SDUDIXQFLRQDUFRQWRGRVORVRFXಢ
SDQWHVFRQORVFLQWXURQHVGHVHಢ
JXULGDGDEURFKDGRV
/LPLWDFLRQHVGHOVLVWHPD
/DIUHQDGDGHHPHUJHQFLDDFWLYDSUHಢ
VHQWDXQIXQFLRQDPLHQWROLPLWDGRR
QXOREDMRFRQGLFLRQHVGHOOXYLDQLHYH
RJUDQGHVDFXPXODFLRQHVGHVXFLHಢ
GDG\DTXHHOVHQVRUGHUDGDUSXHGH
HVWDUFXELHUWRSRUXQDSHOÞFXODGH
DJXDSROYRKLHORRQLHYH$QWHXQ
EORTXHRGHOVHQVRUSURFHGDDODOLPಢ
SLH]DGHVXFXELHUWD
(QDOJXQDVRFDVLRQHVHOVLVWHPDGH
IUHQDGDGHHPHUJHQFLDDFWLYDSXHGH
SURSRUFLRQDUXQDIUHQDGDDXWRPÒWLFD
HQVLWXDFLRQHVTXHSDUHFHQLQQHFHಢ
VDULDVSRUHMHPSORHQJDUDMHVD
FDXVDGHODVVHâDOHVGHWUÒILFRHQ
XQDFXUYDRDYHKÞFXORVHQRWURFDUULO
(VWHHVHOIXQFLRQDPLHQWRQRUPDOQR
KDFHIDOWDUHYLVDUHOYHKÞFXOR$FFLRQH
ILUPHPHQWHHOSHGDOGHODFHOHUDGRU
SDUDDQXODUHOIUHQDGRDXWRPÒWLFR
&RQILJXUDFLäQ
/RVDMXVWHVVHSXHGHQPRGLILFDUHQHO
PHQëGHSHUVRQDOL]DFLäQGHOYHKÞFXOR
HQODSDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
&RQGXFFLäQ\PDQHMR
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$YHUÞD
(QFDVRGHTXHHOVLVWHPDQHFHVLWDUD
UHYLVDUVHDSDUHFHXQPHQVDMHHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
$VLVWHQWHGHDSDUFDPLHQWR
$GYHUWHQFLD
(OFRQGXFWRUHVHOëQLFRUHVSRQಢ
VDEOHGHODPDQLREUDGHDSDUFDಢ
PLHQWR
$OFRQGXFLUKDFLDGHODQWHRKDFLD
DWUÒVXWLOL]DQGRHOVLVWHPDGHDVLVಢ
WHQWHGHDSDUFDPLHQWRLQVSHFಢ
FLRQHVLHPSUHHOÒUHDFLUFXQGDQWH
$VLVWHQWHGHDSDUFDPLHQWR
GHODQWHUR\WUDVHUR
6LHOVLVWHPDQRUHVSRQGLHUDFRPR
GHEHHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRUPRVWUDUÒPHQVDMHVGHOYHಢ
KÞFXOR
0HQVDMHVGHOYHKÞFXOR
(ODVLVWHQWHGHDSDUFDPLHQWRGHODQಢ
WHUR\WUDVHURPLGHODGLVWDQFLDHQWUH
HOYHKÞFXOR\SRVLEOHVREVWÒFXORVVLಢ
WXDGRVGHODQWH\GHWUÒVGHOPLVPR(O
VLVWHPDHPLWHVHâDOHVDFëVWLFDV\
PHQVDMHVHQSDQWDOOD
(OVLVWHPDWLHQHFXDWURVHQVRUHVGH
DSDUFDPLHQWRSRUXOWUDVRQLGRVHQ
FDGDSDUDFKRTXHVWUDVHUR\GHODQಢ
WHUR
3DUDDYLVDUXWLOL]DGRVVHâDOHVDFëVಢ
WLFDVGLIHUHQWHVSDUDOD]RQDGHODQಢ
WHUD\WUDVHUDFDGDXQDFRQXQDIUHಢ
FXHQFLDGHWRQRGLVWLQWD/DVHâDO
SDUDORVREVWÒFXORVIURQWDOHVVXHQDD
WUDYÚVGHORVDOWDYRFHVGHODQWHURV
SDUDORVREVWÒFXORVWUDVHURVVXHQD
GHVGHODSDUWHWUDVHUDGHOYHKÞFXOR
$FWLYDFLäQ
$OHQJUDQDUODPDUFKDDWUÒVHODVLVಢ
WHQWHGHDSDUFDPLHQWRGHODQWHUR\
WUDVHURHVWÒOLVWRSDUDIXQFLRQDU
(ODVLVWHQWHGHDSDUFDPLHQWRGHODQಢ
WHURWDPELÚQVHDFWLYDDXWRPÒWLFDಢ
PHQWHDXQDYHORFLGDGGHNPK
&RQGXFFLäQ\PDQHMR
6LHVWÒLOXPLQDGRHO/('VLWXDGRHQHO
ERWäQGHODVLVWHQWHGHDSDUFDPLHQWR
JLQGLFDTXHHOVLVWHPDHVWÒOLVWR
SDUDIXQFLRQDU
6LHOYHKÞFXORVXSHUDODYHORFLGDGGH
NPKHODVLVWHQWHGHDSDUFDಢ
PLHQWRGHODQWHURVHGHVDFWLYD(O
DVLVWHQWHGHDSDUFDPLHQWRGHODQWHUR
VHUHDFWLYDVLHPSUHTXHODYHORFLGDG
GHOYHKÞFXORFDHSRUGHEDMRGH
NPK
,QGLFDFLäQ
(OVLVWHPDDGYLHUWHDOFRQGXFWRUFRQ
DYLVRVDFëVWLFRVIUHQWHDSRWHQFLDOHV
REVWÒFXORVSHOLJURVRVSRUGHWUÒV\
SRUGHODQWHGHOYHKÞFXOR'HSHQಢ
GLHQGRGHTXÚSDUWHGHOYHKÞFXORHVWÚ
PÒVFHUFDGHXQREVWÒFXORSRGUÒHVಢ
FXFKDUORVDYLVRVDFëVWLFRVHQHOODGR
FRUUHVSRQGLHQWHGHOYHKÞFXOR(OLQಢ
WHUYDORHQWUHDYLVRVDFëVWLFRVVH
DFRUWDFRQIRUPHHOYHKÞFXORVH
DFHUFDDOREVWÒFXOR&XDQGRODGLVಢ
WDQFLDHVLQIHULRUDDSUR[LPDGDPHQWH
FPHODYLVRDFëVWLFRHVFRQWLQXR
$GHPÒVODGLVWDQFLDIURQWDOKDVWDORV
REVWÒFXORVVHSXHGHYLVXDOL]DUHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
/RVREVWÒFXORVWUDVHURVVHLQGLFDQGH
PDQHUDDFëVWLFD\YLVXDODOPLVPR
WLHPSR
/RVREVWÒFXORVGHODQWHURVVHLQGLFDQ
GHPDQHUDYLVXDOSULPHUR&RQGLVಢ
WDQFLDVLQIHULRUHVGHFPWDPELÚQ
VXHQDXQDVHâDODFëVWLFD
/DLQGLFDFLäQGHGLVWDQFLDHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
SXHGHYHUVHLQKLELGDSRUPHQVDMHV
GHOYHKÞFXORFRQPD\RUSULRULGDG
'HVSXÚVGHDSUREDUHOPHQVDMHSXOಢ
VDQGR6
6(7&/5HQODSDODQFDGHOLQಢ
WHUPLWHQWHRHQHOPDQGRGHOYRಢ
ODQWHODLQGLFDFLäQGHODGLVWDQFLD
DSDUHFHGHQXHYR
'HVDFWLYDFLäQ
(ODVLVWHQWHGHDSDUFDPLHQWRWUDVHUR
VHGHVDFWLYDDXWRPÒWLFDPHQWHDOGHಢ
VHQJUDQDUODPDUFKDDWUÒV
(ODVLVWHQWHGHDSDUFDPLHQWRGHODQಢ
WHURVHGHVDFWLYDDXWRPÒWLFDPHQWHD
XQDYHORFLGDGVXSHULRUDNPK
/DGLVWDQFLDDXQREVWÒFXORHQOD
SDUWHIURQWDORSDUWHWUDVHUDVHLQGLFD
DOFDPELDUODVOÞQHDVGHGLVWDQFLDDOಢ
UHGHGRUGHOYHKÞFXOR
&RQGXFFLäQ\PDQHMR
$YHUÞD
(QFDVRGHDYHUÞDHQHOVLVWHPDRVL
HVWHQRIXQFLRQDUDGHELGRDFRQGLFLRಢ
QHVWHPSRUDOHVSRUHMHPSORVHQVRಢ
UHVHVWÚQFXELHUWRVGHQLHYHVHPRVಢ
WUDUÒXQPHQVDMHHQHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRU
0HQVDMHVGHOYHKÞFXOR
$VLVWHQWHGHDSDUFDPLHQWR
DYDQ]DGR
3XHGHGHVDFWLYDUVHPDQXDOPHQWHHO
VLVWHPDSXOVDQGREUHYHPHQWHHOERಢ
WäQGHODVLVWHQWHGHDSDUFDPLHQWR
J
&XDQGRHOVLVWHPDVHGHVDFWLYDHO
/('GHOERWäQVHDSDJD
$GHPÒV$
$VLVWHQWHGHDSDUFDPLHQWR
GHVFRQHFWDGRVDOWDHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRUFXDQGRHO
VLVWHPDVHGHVDFWLYDPDQXDOPHQWH
'HVSXÚVGHXQDGHVDFWLYDFLäQPDಢ
QXDOHODVLVWHQWHGHDSDUFDPLHQWR
GHODQWHURVHDFWLYDGHQXHYRVLHOERಢ
WäQGHDVLVWHQFLDGHDSDUFDPLHQWR
JVHSXOVDRVLVHDSOLFDODPDUFKD
DWUÒV
$GYHUWHQFLD
(OFRQGXFWRUHVHOëQLFRUHVSRQಢ
VDEOHGHDFHSWDUHOKXHFRVXJHಢ
ULGRSDUDDSDUFDU\HQODPDQLREUD
GHDSDUFDPLHQWR
$OXWLOL]DUHODVLVWHQWHGHDSDUFDಢ
PLHQWRDYDQ]DGRLQVSHFFLRQH
VLHPSUHHOÒUHDFLUFXQGDQWHHQWRಢ
GDVODVGLUHFFLRQHV
(OVLVWHPDGHODVLVWHQWHGHDSDUFDಢ
PLHQWRDYDQ]DGRJXÞDDOFRQGXFWRUD
ODKRUDGHDSDUFDUPHGLDQWHLQVWUXFಢ
FLRQHVHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU\VHâDOHVDFëVWLFDV(O
FRQGXFWRUGHEHFRQWURODUODDFHOHUDಢ
FLäQIUHQDGRGLUHFFLäQ\FDPELRGH
PDUFKDV
(OVLVWHPDXWLOL]DORVVHQVRUHVGHO
DVLVWHQWHGHDSDUFDPLHQWRFRPELQDಢ
GRVFRQGRVVHQVRUHVDGLFLRQDOHVHQ
DPERVODGRVGHOSDUDFKRTXHVGHODQಢ
WHUR\WUDVHUR
&RQGXFFLäQ\PDQHMR
$FWLYDFLäQ
&XDQGREXVTXHXQKXHFRSDUDDSDUಢ
FDUHOVLVWHPDHVWÒOLVWRSDUDIXQFLRಢ
QDUDOSXOVDUHOERWäQ
(OVLVWHPDVäORSRGUÒDFWLYDUVHDYHಢ
ORFLGDGHVGHKDVWDNPK\HOVLVಢ
WHPDEXVFDUÒXQOXJDUGHHVWDFLRQDಢ
PLHQWRDYHORFLGDGHVGHKDVWD
NPK
/DGLVWDQFLDPÒ[LPDSHUPLWLGDHQWUH
HOYHKÞFXOR\XQDILODGHFRFKHVDSDUಢ
FDGRVHVGHP
)XQFLRQDPLHQWR
&XDQGRHOYHKÞFXORSDVDMXQWRDXQD
ILODGHFRFKHV\HOVLVWHPDHVWÒDFWLಢ
YDGRHOVLVWHPDGHODVLVWHQWHGH
DSDUFDPLHQWRDYDQ]DGRHPSLH]DD
EXVFDUXQKXHFRDGHFXDGRSDUD
DSDUFDU&XDQGRVHGHWHFWDXQKXHFR
DGHFXDGRKD\XQDLQGLFDFLäQYLVXDO
HQHOFHQWURGHLQIRUPDFLäQGHOFRQಢ
GXFWRU\VHHPLWHQVHâDOHVDFëVWLFDV
6LHOFRQGXFWRUQRGHWLHQHHOYHKÞFXOR
HQORVPHWURVVLJXLHQWHVDODSURಢ
SXHVWDGHOKXHFRSDUDDSDUFDUHOVLVಢ
WHPDHPSLH]DDEXVFDURWURKXHFR
DGHFXDGR
/DVXJHUHQFLDGHXQKXHFRGHDSDUಢ
FDPLHQWRGHOVLVWHPDVHFRQVLGHUD
DFHSWDGDFXDQGRHOFRQGXFWRUGHಢ
WLHQHHOYHKÞFXORHQXQLQWHUYDORGH
PHWURVGHVSXÚVGHSURGXFLUVHHO
PHQVDMHGHSDUDGD(OVLVWHPDFDOಢ
FXODHOWUD]DGRäSWLPRSDUDDSDUFDU
HQHOKXHFRLQGLFDGR/XHJRD\XGDDO
FRQGXFWRUDPDQLREUDUGÒQGROHLQVಢ
WUXFFLRQHVGHWDOODGDV
&RQGXFFLäQ\PDQHMR
/DVLQVWUXFFLRQHVHQSDQWDOODPXHVಢ
WUDQORVLJXLHQWH
ထ 8QDLQGLFDFLäQFXDQGRVHFLUFXOD
DPÒVGHNPK
ထ /DSHWLFLäQGHSDUDUHOYHKÞFXOR
FXDQGRVHGHWHFWDXQKXHFRSDUD
DSDUFDU
ထ /DGLUHFFLäQGHFRQGXFFLäQGXಢ
UDQWHODPDQLREUDGHDSDUFDಢ
PLHQWR
ထ /DSRVLFLäQGHOYRODQWHGXUDQWHHO
DSDUFDPLHQWR
ထ 3DUDDOJXQDVLQVWUXFFLRQHVVH
PXHVWUDXQDEDUUDGHSURJUHVR
8QDPDQLREUDGHDSDUFDPLHQWRH[Lಢ
WRVDVHLQGLFDPHGLDQWHHOPHQVDMH
GHSRVLFLäQ)LQDO
3UHVWHVLHPSUHDWHQFLäQDOVRQLGRGHO
DVLVWHQWHGHDSDUFDPLHQWRGHODQWHUR
\WUDVHUR(ODYLVRDFëVWLFRFRQWLQXR
VLJQLILFDTXHODGLVWDQFLDDOREVWÒFXOR
HVLQIHULRUDXQRVFP
&DPELRGHODGRSDUDDSDUFDU
(OVLVWHPDHVWÒFRQILJXUDGRSDUDGHಢ
WHFWDUKXHFRVSDUDDSDUFDUHQHOODGR
GHODFRPSDâDQWH3DUDGHWHFWDUKXHಢ
FRVHQHOODGRGHOFRQGXFWRUSXOVH
GXUDQWHDSUR[LPDGDPHQWH
VHJXQGRV
3ULRULGDGHVHQODSDQWDOOD
'HVSXÚVGHDFWLYDUHODVLVWHQWHGH
DSDUFDPLHQWRDYDQ]DGRDSDUHFHXQ
PHQVDMHHQHOFHQWURGHLQIRUPDFLäQ
GHOFRQGXFWRU/DLQGLFDFLäQGHODVLVಢ
WHQWHGHDSDUFDPLHQWRDYDQ]DGRHQ
HOFHQWURGHLQIRUPDFLäQGHOFRQGXFಢ
WRUSXHGHYHUVHLQKLELGDSRUPHQVDಢ
MHVGHOYHKÞFXORFRQPD\RUSULRULGDG
'HVSXÚVGHFRQILUPDUHVWHPHQVDMH
SXOVDQGR6
6(7&/5GHODSDODQFDGH
ORVLQWHUPLWHQWHVRHOERWäQHQORV
PDQGRVGHOYRODQWHYXHOYHQDDSDಢ
UHFHUORVPHQVDMHVGHODVLVWHQWHGH
DSDUFDPLHQWR\SXHGHFRQWLQXDUFRQ
ODPDQLREUDGHDSDUFDPLHQWR
'HVDFWLYDFLäQ
(OVLVWHPDVHGHVDFWLYDDO
ထ SXOVDQGR
ထ ILQDOL]DUFRQÚ[LWRODPDQLREUDGH
DSDUFDPLHQWR
ထ FLUFXODUDPÒVGHNPK
ထ GHVFRQHFWDUHOHQFHQGLGR
1RWD
6LVHGHVDFWLYDPDQXDOPHQWHHO
DVLVWHQWHGHDSDUFDPLHQWRDYDQಢ
]DGRRPHGLDQWHHOVLVWHPD
&RQGXFFLäQ\PDQHMR
,QIRUPDFLäQEÒVLFDVREUHHOXVR
GHORVVLVWHPDVGHDVLVWHQFLDDO
DSDUFDPLHQWR
SRUHMHPSORPDQLREUDGHHVWDFLRಢ
QDPLHQWRILQDOL]DGDVHGHVDFWLYD
WDPELÚQHODVLVWHQWHGHDSDUFDಢ
PLHQWRGHODQWHUR\WUDVHUR5HDFWLYH
HODVLVWHQWHGHDSDUFDPLHQWRGHODQಢ
WHUR\WUDVHURSXOVDQGRHOERWäQGHO
DVLVWHQWHGHDSDUFDPLHQWRJRDO
SRQHUODPDUFKDDWUÒVXQDYH]
/DGHVDFWLYDFLäQSRUSDUWHGHOFRQಢ
GXFWRURGHOVLVWHPDGXUDQWHODVPDಢ
QLREUDVVHLQGLFDPHGLDQWH
(VWDFLRQDPLHQWRGHVDFWLYDGRHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
$YHUÞD
$SDUHFHXQPHQVDMHGHHVWDGRHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
FXDQGR
ထ +D\XQDDYHUÞDHQHOVLVWHPD
ထ (OFRQGXFWRUQRFRPSOHWDFRQ
Ú[LWRODPDQLREUDGHDSDUFDಢ
PLHQWR
ထ (OVLVWHPDQRHVWÒRSHUDWLYR
$GYHUWHQFLD
6LVHGHWHFWDXQREMHWRGXUDQWHODV
LQVWUXFFLRQHVGHHVWDFLRQDPLHQWR
DSDUHFH3
3DUHHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRU6LVHUHWLUDHO
REMHWRVHSXHGHFRQWLQXDUFRQODPDಢ
QLREUDGHDSDUFDPLHQWR6LQRVHUHಢ
WLUDHOREMHWRHOVLVWHPDVHGHVDFWLಢ
YDUÒ3XOVHSDUDDFWLYDUHOVLVWHPD
\EXVFDUXQQXHYRKXHFRSDUDDSDUಢ
FDU
(QGHWHUPLQDGDVFLUFXQVWDQFLDV
DOJXQDVVXSHUILFLHVUHIOHFWDQWHV
VREUHREMHWRVRURSDVDVÞFRPR
IXHQWHVGHUXLGRH[WHUQDVSXHGHQ
GDUOXJDUDIDOORVGHOVLVWHPDHQOD
GHWHFFLäQGHREVWÒFXORV
6HGHEHSUHVWDUHVSHFLDODWHQFLäQ
DORVREVWÒFXORVEDMRVTXHSXHGHQ
GDâDUODSDUWHLQIHULRUGHOSDUDFKRಢ
TXHV
$WHQFLäQ
(OUHQGLPLHQWRGHOVLVWHPDSXHGH
YHUVHUHGXFLGRVLORVVHQVRUHVHVಢ
WÒQFXELHUWRVSRUHMHPSORSRU
KLHORRQLHYH
(OUHQGLPLHQWRGHOVLVWHPDGH
DVLVWHQFLDDODSDUFDPLHQWRSXHGH
YHUVHUHGXFLGRSRUXQDFDUJDSHಢ
VDGD
&RQGXFFLäQ\PDQHMR
6RQDSOLFDEOHVFRQGLFLRQHVHVSHಢ
FLDOHVVLKD\YHKÞFXORVPÒVDOWRV
HQODVSUR[LPLGDGHVSRUHMHPSOR
YHKÞFXORVWRGRWHUUHQRPRQRYROëಢ
PHQHVIXUJRQHWDV1RVHSXHGH
JDUDQWL]DUODLGHQWLILFDFLäQGHREಢ
MHWRVQLODLQGLFDFLäQFRUUHFWDGHOD
GLVWDQFLDHQODSDUWHVXSHULRUGH
HVWRVYHKÞFXORV
/RVREMHWRVFRQXQDVHFFLäQGH
UHIOH[LäQPX\SHTXHâDFRPRREಢ
MHWRVHVWUHFKRVRORVPDWHULDOHV
EODQGRVSXHGHQQRVHUGHWHFWDGRV
SRUHOVLVWHPD
/RVVLVWHPDGHDVLVWHQWHGHDSDUಢ
FDPLHQWRQRGHWHFWDQREMHWRV
IXHUDGHOUDQJRGHGHWHFFLäQ
1RWD
(OVLVWHPDGHDVLVWHQWHGHDSDUFDಢ
PLHQWRVHSXHGHDFWLYDU\GHVDFWLYDU
FDPELDQGRORVDMXVWHVHQOD3DQWDOOD
GHLQIRUPDFLäQ
3HUVRQDOL]DFLäQGHOYHKÞFXOR
1RWD
6LKD\XQGLVSRVLWLYRGHUHPROTXH
PRQWDGRGHIÒEULFDHODVLVWHQWHGH
DSDUFDPLHQWRORGHWHFWDDXWRPÒWLಢ
FDPHQWH6HGHVDFWLYDDOHQFKXIDU
HOFRQHFWRU
(VSRVLEOHTXHORVVHQVRUHVGHWHFಢ
WHQXQREMHWRLQH[LVWHQWHSHUWXUEDಢ
FLäQGHOHFRGHELGRDSHUWXUEDFLRಢ
QHVDFëVWLFDVRPHFÒQLFDVH[WHUಢ
QDV
(OVLVWHPDGHODVLVWHQWHGHDSDUFDಢ
PLHQWRDYDQ]DGRSXHGHQRUHVSRQಢ
GHUDFDPELRVHQHOHVSDFLRSDUD
DSDUFDUGHVSXÚVGHLQLFLDUODPDQLRಢ
EUDGHDSDUFDPLHQWRHQSDUDOHOR
1RWD
'HVSXÚVGHVXIDEULFDFLäQHVQHಢ
FHVDULRFDOLEUDUHOVLVWHPD3DUDXQ
JXLDGRGHHVWDFLRQDPLHQWRäSWLPR
VHQHFHVLWDXQDGLVWDQFLDGHFRQಢ
GXFFLäQGHDOPHQRVNPLQFOXLಢ
GRVXQRVFXDQWRVJLURV
$OHUWDGHSXQWRFLHJRODWHUDO
(OVLVWHPDGHDOHUWDGHSXQWRFLHJR
ODWHUDOGHWHFWDHLQIRUPDGHREMHWRVD
FXDOTXLHUODGRGHOYHKÞFXORGHQWURGH
XQD]RQDHVSHFLILFDGDGHSXQWR
FLHJR$OGHWHFWDUREMHWRVTXHSRಢ
GUÞDQQRYHUVHHQORVHVSHMRVUHWURYLಢ
VRUHVLQWHULRUHV\H[WHULRUHVHOVLVಢ
WHPDDOHUWDYLVXDOPHQWHHQFDGDUHಢ
WURYLVRUH[WHULRU
/RVVHQVRUHVGHOVLVWHPDVHHQFXHQಢ
WUDQHQHOSDUDFKRTXHVHQHOODGRL]ಢ
TXLHUGR\GHUHFKRGHOYHKÞFXOR
$GYHUWHQFLD
/DDOHUWDGHSXQWRFLHJRODWHUDOQR
VXVWLWX\HODYLVLäQGHOFRQGXFWRU
(OVLVWHPDQRGHWHFWD
ထ YHKÞFXORVIXHUDGHODV]RQDV
GHOSXQWRFLHJRODWHUDOHVTXH
SXHGDQDFHUFDUVHUÒSLGDPHQWH
ထ SHDWRQHVFLFOLVWDVRDQLPDOHV
$QWHVGHFDPELDUGHFDUULOFRPಢ
SUXHEHVLHPSUHWRGRVORVUHWURYLಢ
VRUHVPLUHSRUHQFLPDGHOKRPEUR
\XWLOLFHHOLQWHUPLWHQWH
&XDQGRHOVLVWHPDGHWHFWDODSUHVHQಢ
FLDGHXQYHKÞFXORHQOD]RQDFLHJD
ODWHUDOGXUDQWHODFRQGXFFLäQKDFLD
GHODQWH\DVHDDGHODQWDQGRRVLHQGR
DGHODQWDGRVHLOXPLQDUÒHOVÞPEROR
&RQGXFFLäQ\PDQHMR
GHDGYHUWHQFLD%DPDULOORHQHO
HVSHMRUHWURYLVRUH[WHULRUFRUUHVSRQಢ
GLHQWH(QHVHPRPHQWRVLHOFRQಢ
GXFWRUDFWLYDHOLQWHUPLWHQWHHOVÞPಢ
ERORGHDGYHUWHQFLD%FRPHQ]DUÒD
SDUSDGHDUHQDPDULOORFRPRDGYHUಢ
WHQFLDSDUDHYLWDUHOFDPELRGHFDUULO
1RWD
6LHOYHKÞFXORTXHSDVDHVDOPHಢ
QRVNPKPÒVUÒSLGRTXHHOYHಢ
KÞFXORSDVDGRHVSRVLEOHTXHQRVH
LOXPLQHHOVÞPERORGHDGYHUWHQFLD
%HQHOHVSHMRUHWURYLVRUH[WHULRUFRಢ
UUHVSRQGLHQWH
$ODUUDQFDUHOYHKÞFXORDPERVUHWURಢ
YLVRUHVH[WHULRUHVPRVWUDUÒQEUHYHಢ
PHQWHVXVDOHUWDVSDUDLQGLFDUHOFRಢ
UUHFWRIXQFLRQDPLHQWRGHOVLVWHPD
6LHOYHKÞFXORHVWÒHTXLSDGRFRQOD
DOHUWDGHFDPELRGHFDUULOVH
YLVXDOL]DHOVÞPEROR)HQORVHVSHಢ
MRVUHWURYLVRUHV
6HSXHGHDFWLYDURGHVDFWLYDUHOVLVಢ
WHPDHQ3HUVRQDOL]DFLäQGHOYHಢ
KÞFXOR
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
/DGHVDFWLYDFLäQVHLQGLFDPHGLDQWH
XQPHQVDMHHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRU
=RQDVGHGHWHFFLäQ
(OVHQVRUGHOVLVWHPDDEDUFDXQD
]RQDGHXQRVPHWURDDPERVODಢ
GRVGHOYHKÞFXOR'LFKD]RQDFRಢ
PLHQ]DHQFDGDUHWURYLVRUH[WHULRU\
VHH[WLHQGHKDFLDDWUÒVXQRVPHಢ
WURV/DDOWXUDGHOD]RQDVHVLWëDHQಢ
WUHDSUR[LPDGDPHQWHPHWURV\
PHWURVGHGLVWDQFLDGHOVXHOR
(OVLVWHPDVHGHVDFWLYDVLHOYHKÞFXOR
OOHYDUHPROTXH
/DDOHUWDGHSXQWRFLHJRODWHUDOKD
VLGRGLVHâDGDSDUDLJQRUDUREMHWRV
FRPRJXDUGDUUDÞOHVRTXLWDPLHGRV
SRVWHVERUGLOORVSDUHGHV\YLJDV(O
VLVWHPDQRGHWHFWDYHKÞFXORVHVWDFLRಢ
QDGRVQLDTXHOORVTXHVHDSUR[LPDQ
HQVHQWLGRRSXHVWR
$YHUÞD
(QFLUFXQVWDQFLDVQRUPDOHVVHSXHಢ
GHQSURGXFLUDXVHQFLDGHDOHUWDVRFDಢ
VLRQDOHV
&RQGXFFLäQ\PDQHMR
/DDOHUWDGHSXQWRFLHJRODWHUDOQR
IXQFLRQDUÒFXDQGRODVHVTXLQDVGHಢ
UHFKDRL]TXLHUGDGHOSDUDFKRTXHV
WUDVHURHVWÚQFXELHUWDVGHEDUURVXಢ
FLHGDGQLHYHKLHORDJXDQLHYHRGXಢ
UDQWHWRUPHQWDVIXHUWHV,QVWUXFFLRಢ
QHVGHOLPSLH]D
(QFDVRGHDYHUÞDHQHOVLVWHPDRVL
HVWHQRIXQFLRQDUDGHELGRDFRQGLFLRಢ
QHVWHPSRUDOHVVHPRVWUDUÒXQPHQಢ
VDMHHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU5HFXUUDDODD\XGDGHXQ
WDOOHU
$OHUWDGHFDPELRGHFDUULO
$GHPÒVGHODDOHUWDGHSXQWRFLHJR
ODWHUDOODDOHUWDGHFDPELRGH
FDUULOUHFRQRFHUÒSLGDPHQWHODDSURಢ
[LPDFLäQGHYHKÞFXORVSRUGHWUÒVHQ
FDUULOHVSDUDOHORVMXQWRDVXYHKÞFXOR
6LHOYHKÞFXORHVWÒHTXLSDGRFRQOD
DOHUWDGHFDPELRGHFDUULOODDOHUWDGH
SXQWRFLHJRODWHUDOVLHPSUHHVWÒLQಢ
FOXLGD
(OVLVWHPDDOHUWDYLVXDOPHQWHHQ
FDGDHVSHMRUHWURYLVRUDOGHWHFWDUYHಢ
KÞFXORVTXHVHDSUR[LPDQUÒSLGDಢ
PHQWHSRUGHWUÒV
/RVVHQVRUHVGHGLVWDQFLDGHUDGDU
HVWÒQVLWXDGRVHQHOSDUDFKRTXHVWUDಢ
VHUR
$GYHUWHQFLD
/DDOHUWDGHFDPELRGHFDUULOQR
VXVWLWX\HDODYLVLäQGHOFRQGXFWRU
$QWHVGHFDPELDUGHFDUULOFRPಢ
SUXHEHVLHPSUHWRGRVORVUHWURYLಢ
VRUHVPLUHSRUHQFLPDGHOKRPEUR
\XWLOLFHHOLQWHUPLWHQWH
&XDQGRHOVLVWHPDGHWHFWDXQYHಢ
KÞFXORDSUR[LPÒQGRVHSRUGHWUÒVTXH
FRQGXFHQRWDEOHPHQWHPÒVUÒSLGRHO
VÞPERORGHDOHUWDHQÒPEDU)VH
LOXPLQDUÒHQHOHVSHMRUHWURYLVRUFRಢ
UUHVSRQGLHQWH(QHVHPRPHQWRVLHO
FRQGXFWRUDFWLYDHOLQWHUPLWHQWHHO
VÞPERORGHDGYHUWHQFLD)FRPHQಢ
]DUÒDSDUSDGHDUHQÒPEDUDPRGR
GHDGYHUWHQFLDSDUDHYLWDUHOFDPELR
GHFDUULO
$ODUUDQFDUHOYHKÞFXORDPERVUHWURಢ
YLVRUHVH[WHULRUHVPRVWUDUÒQEUHYHಢ
PHQWHVXVDOHUWDVSDUDLQGLFDUHOFRಢ
UUHFWRIXQFLRQDPLHQWRGHOVLVWHPD
&RQGXFFLäQ\PDQHMR
=RQDVGHGHWHFFLäQ
/RVVHQVRUHVGHOVLVWHPDFXEUHQXQD
]RQDGHDSUR[LPDGDPHQWH
PHWURVSDUDOHORVDDPERVODGRV
GHOYHKÞFXOR\DSUR[LPDGDPHQWH
PHWURVKDFLDDWUÒVHQODDOHUWDGHO
SXQWRFLHJRODWHUDO$\DSUR[LPDGDಢ
PHQWHPHWURVKDFLDDWUÒVHQOD
DOHUWDGHFDPELRGHFDUULO%HQFDಢ
UULOHVSDUDOHORV/DV]RQDVFRPLHQ]DQ
HQFDGDHVSHMRUHWURYLVRU/DDOWXUD
GHOD]RQDVHVLWëDDSUR[LPDGDPHQWH
HQWUHPHWURV\PHWURVGHGLVಢ
WDQFLDGHOVXHOR
'HVDFWLYDFLäQ
$YHUÞD
/DDFWLYDFLäQRGHVDFWLYDFLäQGH
DOHUWDGHFDPELRGHFDUULOVHSXHGH
DMXVWDUHQHOPHQëGHSHUVRQDOL]Dಢ
FLäQGHOYHKÞFXORHQODSDQWDOODGHLQಢ
IRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
(OVLVWHPDVHGHVDFWLYDVLHOYHKÞFXOR
OOHYDUHPROTXH
/DGHVDFWLYDFLäQVHLQGLFDPHGLDQWH
XQPHQVDMHHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRU
/DIDOWDGHIXQFLRQDPLHQWRRFDVLRQDO
GHDOHUWDVSXHGHSURGXFLUVHHQFLUಢ
FXQVWDQFLDVQRUPDOHVRHQFXUYDV
SURQXQFLDGDV(OVLVWHPDSXHGHDOHUಢ
WDUWHPSRUDOPHQWHGHREMHWRVHQHO
SXQWRFLHJRFRQFRQGLFLRQHVPHWHRಢ
UROäJLFDVHVSHFÞILFDVOOXYLDJUDQL]R
HWF&RQGXFLUSRUXQDFDUUHWHUDPRಢ
MDGDRHQORVFDPELRVGHXQD]RQD
VHFDDXQD]RQDKëPHGDSXHGHFDXಢ
VDUODDFWLYDFLäQGHOVLVWHPDSXHVWR
TXHODVVDOSLFDGXUDVGHDJXDVHSXHಢ
GHQLQWHUSUHWDUFRPRREMHWRV'HRWUR
PRGRHOVLVWHPDSXHGHHQFHQGHUVH
FRQORVTXLWDPLHGRVVHâDOHVÒUERಢ
OHVDUEXVWRVXRWURVREMHWRVLQPäYLಢ
OHV(VWHHVHOIXQFLRQDPLHQWRQRUPDO
\HOVLVWHPDQRQHFHVLWDPDQWHQLಢ
PLHQWR
/DDOHUWDGHFDPELRGHFDUULOQRIXQಢ
FLRQDUÒFXDQGRODVHVTXLQDVGHUHFKD
RL]TXLHUGDGHOSDUDFKRTXHVWUDVHUR
HVWÚQFXELHUWDVGHEDUURVXFLHGDG
QLHYHKLHORRDJXDQLHYH,QVWUXFFLRಢ
QHVGHOLPSLH]D
1RWD
'HVSXÚVGHVXIDEULFDFLäQHVQHಢ
FHVDULRFDOLEUDUHOVLVWHPD3DUDXQD
UHQGLPLHQWRäSWLPRFRQGX]FDORDQಢ
WHVSRVLEOHSRUXQDFDUUHWHUDUHFWD
FRQREMHWRVDORVODGRVSRUHMHPSOR
TXLWDPLHGRV\EDUUHUDVGXUDQWHDOಢ
JëQUDWR
&RQGXFFLäQ\PDQHMR
(QFDVRGHDYHUÞDHQHOVLVWHPDRVL
HVWHQRIXQFLRQDUDGHELGRDFRQGLFLRಢ
QHVWHPSRUDOHVVHPRVWUDUÒXQPHQಢ
VDMHHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU5HFXUUDDODD\XGDGHXQ
WDOOHU
&ÒPDUDUHWURYLVRUD
/DFÒPDUDUHWURYLVRUDD\XGDDOFRQಢ
GXFWRUGXUDQWHODPDUFKDDWUÒVPRVಢ
WUDQGRXQDYLVWDGHOD]RQDTXHKD\
GHWUÒVGHOYHKÞFXOR
/DYLVWDGHODFÒPDUDVHPXHVWUDHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
1RFLUFXOHPDUFKDDWUÒVREVHUಢ
YDQGRëQLFDPHQWHODSDQWDOODGH
LQIRUPDFLäQ\FRPSUXHEHOD]RQD
GHOHQWRUQRGHGHWUÒV\DOUHGHGRU
GHOYHKÞFXORDQWHVGHSURFHGHU
$FWLYDFLäQ
/DFÒPDUDUHWURYLVRUDVHDFWLYDDXWRಢ
PÒWLFDPHQWHDODFFLRQDUODPDUFKD
DWUÒV
)XQFLRQDPLHQWR
$GYHUWHQFLD
/DFÒPDUDUHWURYLVRUDQRVXVWLWX\H
ODYLVLäQGHOFRQGXFWRU7HQJDHQ
FXHQWDTXHORVREMHWRVTXHVHHQಢ
FXHQWUDQIXHUDGHOFDPSRGHYLಢ
VLäQGHODFÒPDUD\GHORVVHQVRಢ
UHVGHODVLVWHQWHGHDSDUFDPLHQWR
DYDQ]DGRSRUHMHPSORHOSDUDಢ
FKRFKHVRORVEDMRVGHOYHKÞFXOR
QRVHPXHVWUDQ
/DFÒPDUDHVWÒPRQWDGDHQWUHODVOXಢ
FHVGHODPDWUÞFXOD\RIUHFHXQÒQJXOR
GHYLVLäQGH¡
'HELGRDODSRVLFLäQHOHYDGDGHOD
FÒPDUDSXHGHYHUVHHOSDUDFKRTXHV
WUDVHURHQSDQWDOODFRPRJXÞDGHOD
SRVLFLäQ
(OÒUHDPRVWUDGDSRUODFÒPDUDHVOLಢ
PLWDGD/DGLVWDQFLDGHODLPDJHQTXH
DSDUHFHHQSDQWDOODGLILHUHGHODGLVಢ
WDQFLDUHDO
/ÞQHDVJXÞD
/DVOÞQHDVJXÞDGLQÒPLFDVVRQOÞQHDV
KRUL]RQWDOHVHQLQWHUYDORVGH
PHWURSUR\HFWDGDVVREUHODLPDJHQ
SDUDGHILQLUODGLVWDQFLDDORVREMHWRV
PRVWUDGRV
&RQGXFFLäQ\PDQHMR
6ÞPERORVGHDGYHUWHQFLD
/RVVÞPERORVGHDGYHUWHQFLDVHLQGLಢ
FDQPHGLDQWHWULÒQJXORVVREUHOD
LPDJHQTXHPXHVWUDORVREVWÒFXORV
GHWHFWDGRVSRUORVVHQVRUHVWUDVHURV
GHODVLVWHQWHGHDSDUFDPLHQWRDYDQಢ
]DGR
$GHPÒVDSDUHFHHQODOÞQHDVXSHಢ
ULRUGHODSDQWDOODGHLQIRUPDFLäQFRQ
ODDGYHUWHQFLDSDUDFRPSUREDUORTXH
URGHDDOYHKÞFXOR
/DWUD\HFWRULDGHOYHKÞFXORVHPXHVಢ
WUDHQIXQFLäQGHOÒQJXORGHODGLUHFಢ
FLäQ
/DIXQFLäQVHSXHGHGHVDFWLYDUHQHO
PHQëGHSHUVRQDOL]DFLäQGHOYHKÞFXOR
HQODSDQWDOODGHLQIRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
'HVDFWLYDFLäQ
/DFÒPDUDVHGHVDFWLYDDOVXSHUDU
XQDGHWHUPLQDGDYHORFLGDGGH
DYDQFHRVLODPDUFKDDWUÒVQRVHVHಢ
OHFFLRQDGXUDQWHXQRVVHJXQGRV
/DDFWLYDFLäQRGHVDFWLYDFLäQGHFÒಢ
PDUDGHYLVLäQWUDVHUDVHSXHGHDMXVಢ
WDUHQHOPHQëGHSHUVRQDOL]DFLäQGHO
YHKÞFXORHQODSDQWDOODGHLQIRUPDFLäQ
HQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$YHUÞD
/RVPHQVDMHVGHDYHUÞDVHPXHVWUDQ
FRQXQHQODOÞQHDVXSHULRUGHOD
SDQWDOODGHLQIRUPDFLäQ
/DFÒPDUDUHWURYLVRUDSRGUÞDQRIXQಢ
FLRQDUFRUUHFWDPHQWHVL
ထ (OHQWRUQRHVRVFXUR
ထ (OVRORODVOXFHVGHXQRVIDURV
LQFLGHQGLUHFWDPHQWHHQHOREMHಢ
WLYRGHODFÒPDUD
ထ (OKLHORODQLHYHHOEDUURXRWURV
HOHPHQWRVFXEUHQODOHQWHGHOD
FÒPDUD/LPSLHHOREMHWLYRHQಢ
MXÒJXHORFRQDJXD\VÚTXHORFRQ
XQSDâRVXDYH
ထ (OSRUWäQWUDVHURQRHVWÒFRUUHFಢ
WDPHQWHFHUUDGR
ထ (OYHKÞFXOROOHYHUHPROTXH
ထ (OYHKÞFXORKDVXIULGRXQDFFLಢ
GHQWHWUDVHUR
ထ ([LVWHQFDPELRVEUXVFRVGHWHPಢ
SHUDWXUD
&RQGXFFLäQ\PDQHMR
$OHUWDGHWUÒILFRSRUGHWUÒV
$GHPÒVGHODFÒPDUDGHYLVLäQWUDಢ
VHUDODDOHUWDGHOWUÒILFRSRU
GHWUÒVDGYLHUWHGHOWUÒILFRFUX]DGRGH
L]TXLHUGDDGHUHFKDFXDQGRVHFRQಢ
GXFHPDUFKDDWUÒV&XDQGRVHUHFRಢ
QRFHHOWUÒILFRSRUGHWUÒV\ODFÒPDUD
GHYLVLäQWUDVHUDHVWÒDFWLYDGDHQOD
SDQWDOODGHLQIRUPDFLäQHQFRORUDSDಢ
UHFHXQWULÒQJXORGHDGYHUWHQFLDFRQ
XQDIOHFKDGHGLUHFFLäQ.LQGLFDQGR
ODGLUHFFLäQGHOWUÒILFR$GHPÒVVRಢ
QDUÒQWUHVSLWLGRVSRUHODOWDYR]GH
FDGDODGR
/RVVHQVRUHVGHGLVWDQFLDGHUDGDU
HVWÒQVLWXDGRVHQORVODWHUDOHVGHOSDಢ
UDFKRTXHVWUDVHUR
=RQDVGHGHWHFFLäQ
$GYHUWHQFLD
/DDOHUWDGHWUÒILFRSRUGHWUÒVQR
VXVWLWX\HDODYLVLäQGHOFRQGXFWRU
2EVHUYHTXHORVREMHWRVTXHHVಢ
WÒQIXHUDGHORVVHQVRUHV
SRUHMHPSORGHEDMRGHOSDUDFKRಢ
TXHVRHQORVEDMRVGHOYHKÞFXOR
QRVHYLVXDOL]DQ
1RGHWHFWDQSHDWRQHVQLâRVR
DQLPDOHV
1RFLUFXOHPDUFKDDWUÒVREVHUಢ
YDQGRëQLFDPHQWHODSDQWDOODGH
LQIRUPDFLäQ\FRPSUXHEHHOHQಢ
WRUQRGHWUÒV\DOUHGHGRUGHOYHಢ
KÞFXORDQWHVGHSURFHGHU
$FWLYDFLäQ
/DDOHUWDGHWUÒILFRSRUGHWUÒVVHDFಢ
WLYDDXWRPÒWLFDPHQWHMXQWRFRQODFÒಢ
PDUDGHYLVLäQWUDVHUDFXDQGRVHHQಢ
JUDQDODPDUFKDDWUÒV
/RVVHQVRUHVGHOVLVWHPDFXEUHQXQD
]RQDGHDSUR[LPDGDPHQWHPHWURV
KDFLDODL]TXLHUGDRGHUHFKDSRUGHಢ
WUÒVGHOYHKÞFXOR
'HVDFWLYDFLäQ
/DDOHUWDGHWUÒILFRSRUGHWUÒVVHGHVಢ
DFWLYDMXQWRFRQODFÒPDUDGHYLVLäQ
WUDVHUDFXDQGRVHVXSHUDGHWHUPLಢ
QDGDYHORFLGDGKDFLDDGHODQWHRVLVH
TXLWDODPDUFKDDWUÒVGXUDQWHDSUR[Lಢ
PDGDPHQWHVHJXQGRV
&RQGXFFLäQ\PDQHMR
/DDFWLYDFLäQRGHVDFWLYDFLäQGH
DOHUWDGHWUÒILFRSRUGHWUÒVVHSXHGH
DMXVWDUHQHOPHQëGHSHUVRQDOL]Dಢ
FLäQGHOYHKÞFXORHQODSDQWDOODGHLQಢ
IRUPDFLäQHQFRORU
6HOHFFLRQHODFRQILJXUDFLäQFRUUHVಢ
SRQGLHQWHHQ$
$MXVWHV 9
9HKÞFXORHQ
ODSDQWDOODGHLQIRUPDFLäQHQFRORU
3DQWDOODGHLQIRUPDFLäQHQFRORU
3HUVRQDOL]DFLäQGHOYHKÞFXOR
$VLVWHQWHGHVHâDOHVGH
WUÒILFR
)XQFLRQDPLHQWR
(OVLVWHPDGHODVLVWHQWHGHVHâDOHV
GHWUÒILFRGHWHFWDGHWHUPLQDGDVVHಢ
âDOHVGHWUÒILFRPHGLDQWHXQDFÒPDUD
IURQWDO\ODVPXHVWUDHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU
$YHUÞD
(VSRVLEOHTXHHOVLVWHPDQRIXQFLRQH
FRUUHFWDPHQWHFXDQGR
ထ (OKLHORODQLHYHHOEDUURXRWURV
HOHPHQWRVFXEUHQORVVHQVRUHV
ထ (OYHKÞFXOROOHYHUHPROTXH
ထ (OYHKÞFXORKDVXIULGRXQDFFLಢ
GHQWHWUDVHUR
ထ ([LVWHQFDPELRVEUXVFRVGHWHPಢ
SHUDWXUD
/DVVHâDOHVGHWUÒILFRTXHVHGHWHFಢ
WDQVRQ
6HâDOHVGHOÞPLWHGHYHORFLGDG\GH
SURKLELGRDGHODQWDU
ထ OÞPLWHGHYHORFLGDG
ထ SURKLELGRDGHODQWDU
ထ ILQGHOLPLWDFLäQGHYHORFLGDG
ထ ILQGHSURKLELGRDGHODQWDU
6HâDOHVGHWUÒILFR
3ULQFLSLR\ILQGH
ထ DXWRSLVWDV
ထ FDUUHWHUDV$
ထ YÞDVUHFUHDWLYDV
6HâDOHVDGLFLRQDOHV
ထ SLVWDVDGLFLRQDOHVVREUHODVVHಢ
âDOHVGHWUÒILFR
ထ OLPLWDFLäQGHOXVRGHOUHPROTXH
ထ OLPLWDFLRQHVWUDFWRUDV
ထ DGYHUWHQFLDGHILUPHKëPHGR
ထ DGYHUWHQFLDGHSUHVHQFLDGH
KLHOR
ထ IOHFKDVGHGLUHFFLäQ
/DVVHâDOHVGHOLPLWDFLäQGHYHORFLಢ
GDG\ODVVHâDOHVGHSURKLELGRDGHಢ
ODQWDUVHPXHVWUDQHQHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRUKDVWDTXHVH
GHWHFWHODVLJXLHQWHVHâDOGHOLPLWDಢ
FLäQGHYHORFLGDGRGHILQGHOLPLWDಢ
FLäQGHYHORFLGDGRELHQKDVWDTXH
WUDQVFXUUDXQWLHPSRGHWHUPLQDGR
&RQGXFFLäQ\PDQHMR
(VSRVLEOHODLQGLFDFLäQGHPëOWLSOHV
VHâDOHVHQODSDQWDOOD
(OVLVWHPDHVWÒDFWLYRKDVWDXQDYHಢ
ORFLGDGGHNPKGHSHQGLHQGRGH
ODVFRQGLFLRQHVOXPLQRVDV'HQRFKH
HOVLVWHPDHVWÒDFWLYRKDVWDXQDYHಢ
ORFLGDGGHNPK
(QFXDQWRODYHORFLGDGEDMDGH
NPKODSDQWDOODVHUHLQLFLD\HO
FRQWHQLGRGHODSÒJLQDGHVHâDOHVGH
WUÒILFRVHERUUDSRUHMHPSORDOHQWUDU
HQHOFHQWURGHODFLXGDG6HPRVWUDUÒ
ODVLJXLHQWHLQGLFDFLäQGHYHORFLGDG
TXHVHGHWHFWH
(QODSDQWDOODGHQLYHOEÒVLFRVHOHFಢ
FLRQH$
$MXVWHV;SXOVDQGR0
0(18\
VHOHFFLRQHODHQWUDGDGH'
'HWHFFLäQ
GHVHâDOHVGHWUÒILFRFRQODUXHGDGH
DMXVWHHQODSDODQFDGHOLQWHUPLWHQWH
,QGLFDFLäQHQSDQWDOOD
8QVLJQRGHH[FODPDFLäQHQXQUHಢ
FXDGURLQGLFDTXHVHKDGHWHFWDGR
XQDVHâDODGLFLRQDOTXHHOVLVWHPDQR
LGHQWLILFDFODUDPHQWH
8QVLJQRSRVLWLYRHQXQUHFXDGURQDಢ
UDQMDLQGLFDTXHH[LVWHLQIRUPDFLäQ
DGLFLRQDOTXHVHH[SOLFDHQODSÒJLQD
'HWHFFLäQGHVHâDOHVGHWUÒILFRHQHO
&HQWURGHLQIRUPDFLäQGHOFRQGXFWRU
YÚDVH,QGLFDFLäQGHSDQWDOODDFRQಢ
WLQXDFLäQ
/DVVHâDOHVGHWUÒILFRVHYLVXDOL]DQ
HQODSÒJLQD'
'HWHFFLäQGHVHâDOHVGH
WUÒILFRHQHO',&
(QODSDQWDOODGHQLYHOPHGLR\QLYHO
VXSHULRUVHOHFFLRQHHOPHQëGH
,QIRUPDFLäQFRQORVERWRQHVGHODGHಢ
UHFKDGHOYRODQWH\SXOVH3SDUDVHಢ
OHFFLRQDU'
'HWHFFLäQGHVHâDOHVGH
WUÒILFR
&RQGXFFLäQ\PDQHMR
6LVHKDVHOHFFLRQDGRRWUDSÒJLQDHQ
HOPHQëGHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU\OXHJRVHYXHOYHDVHOHFಢ
FLRQDUODSÒJLQD'
'HWHFFLäQGH
VHâDOHVGHWUÒILFRVHPRVWUDUÒODëOಢ
WLPDVHâDOGHWUÒILFRGHWHFWDGD
)XQFLäQGHDOHUWD
/DIXQFLäQGHDOHUWDSXHGHDFWLYDUVH
RGHVDFWLYDUVHHQHOPHQëGHFRQILಢ
JXUDFLäQGHODSÒJLQDGHODVLVWHQWHGH
VHâDOHVGHWUÒILFRSXOVDQGR
6(7&/5HQODSDODQFDGHORVLQWHUಢ
PLWHQWHVRHQHOYRODQWH
8QDYH]DFWLYDGDODVVHâDOHVGHOÞಢ
PLWHGHYHORFLGDG\SURKLELGRDGHODQಢ
WDUVHPXHVWUDQFRPRDOHUWDVHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
/DLOXVWUDFLäQPXHVWUDHO&HQWURGH
LQIRUPDFLäQGHOFRQGXFWRUGHQLYHO
EÒVLFR
&RQGXFFLäQ\PDQHMR
/DLOXVWUDFLäQPXHVWUDHO&HQWURGH
LQIRUPDFLäQGHOFRQGXFWRUGHQLYHO
PHGLRRVXSHULRU
&XDQGRODSÒJLQDGHDMXVWHVVHYLಢ
VXDOLFHVHOHFFLRQH'
'HVFRQHFWDGRR
DMXVWDUDOHUWDV,SDUDGHVDFWLYDUOD
IXQFLäQGHDOHUWDV$FWLYHGHQXHYR
VHOHFFLRQDQGR(
(QFHQGLGRRDOHUWDV
-
&XDQGRVHFRQHFWDHOHQFHQGLGRVH
GHVDFWLYDODIXQFLäQGHDOHUWD
/DDOHUWDHPHUJHQWHVHPXHVWUDGXಢ
UDQWHXQRVRFKRVHJXQGRVHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
5HVWDEOHFLPLHQWRGHOVLVWHPD
(OFRQWHQLGRGHODPHPRULDGHODVVHಢ
âDOHVGHWUÒILFRSXHGHERUUDUVHHQHO
PHQëGHFRQILJXUDFLäQGHODSÒJLQD
GHODVLVWHQWHGHVHâDOHVGHWUÒILFRVHಢ
OHFFLRQDQGR5
5HVWDEOHFHU\VHFRQಢ
ILUPDSXOVDQGR6
6(7&/5GHODSDಢ
ODQFDGHLQWHUPLWHQWHVRHQHOFRQಢ
WUROGHUHFKRGHOYRODQWH8QDYH]UHDಢ
OL]DGRHOUHVWDEOHFLPLHQWRFRUUHFWDಢ
PHQWHVRQDUÒXQWLPEUH\VHLQGLFDUÒ
HOVÞPERORVLJXLHQWHKDVWDTXHVHGHಢ
WHFWHODVLJXLHQWHVHâDOGHWUÒILFR
ထ
(QDOJXQRVFDVRVHOVLVWHPDERUUD
DXWRPÒWLFDPHQWHHODVLVWHQWHGHVHಢ
âDOHVGHWUÒILFR
$YHUÞD
(OVLVWHPDDVLVWHQWHGHVHâDOHVGH
WUÒILFRSXHGHIXQFLRQDULQFRUUHFWDಢ
PHQWHVL
ထ (OÒUHDGHOSDUDEULVDVGRQGHVH
HQFXHQWUDODFÒPDUDIURQWDOQR
HVWÒOLPSLRRFRQWLHQHHOHPHQWRV
H[WUDâRVSRUHMHPSORDGKHVLಢ
YRV
ထ /DVVHâDOHVGHWUÒILFRHVWÒQWRWDO
RSDUFLDOPHQWHFXELHUWDVRVRQ
GLIÞFLOHVGHGLVFHUQLU
ထ +D\FRQGLFLRQHVDPELHQWDOHVDGಢ
YHUVDVFRPRIXHUWHOOXYLDQLHYH
UDGLDFLäQVRODUGLUHFWDRVRPಢ
EUDV(QHVWHFDVRDSDUHFH
ထ
1LQJXQDGHWHFFQVHâDOVG
WUÒILFRWLHPSRUHLQDQWHHQODSDQಢ
WDOOD
/DVVHâDOHVGHWUÒILFRHVWÒQGDಢ
âDGDVRPRQWDGDVLQFRUUHFWDಢ
PHQWH
/DVVHâDOHVGHWUÒILFRQRFXPಢ
SOHQOD&RQYHQFLäQGH9LHQDVRಢ
EUHVHâDOHVGHWUÒILFR:LHQHU
ÍEHUHLQNRPPHQíEHU6WUDÐHQಢ
YHUNHKUV]HLFKHQ
$WHQFLäQ
(OVLVWHPDHVWÒGLVHâDGRSDUD
D\XGDUDOFRQGXFWRUDUHFRQRFHU
FLHUWDVVHâDOHVGHWUÒILFRGHQWUR
GHXQGHWHUPLQDGRLQWHUYDORGH
YHORFLGDG1XQFDGHEHLJQRUDUODV
VHâDOHVGHWUÒILFRTXHQRPXHVWUD
HOVLVWHPD
(OVLVWHPDQRUHFRQRFHRWUDVVHಢ
âDOHVGHWUÒILFRGLVWLQWDVGHODV
FRQYHQFLRQDOHVTXHSXGLHUDQHVಢ
WDEOHFHURILQDOL]DUXQDOLPLWDFLäQ
GHYHORFLGDG
&RQGXFFLäQ\PDQHMR
1RGHMHTXHHVWDFDUDFWHUÞVWLFDHVಢ
SHFLDOOHLQFLWHDFRQGXFLUDUULHVಢ
JDGDPHQWH
$GDSWHVLHPSUHODYHORFLGDGDODV
FRQGLFLRQHVGHODFDO]DGD
/RVVLVWHPDVGHD\XGDDODFRQಢ
GXFFLäQQRH[LPHQDOFRQGXFWRU
GHVXSOHQDUHVSRQVDELOLGDGHQHO
PDQHMRGHOYHKÞFXOR
ထ
1RKD\XQDFFLRQDPLHQWRDFWLYR
GHODFHOHUDGRU
ထ 1RKD\XQDFFLRQDPLHQWRGHOYRಢ
ODQWH
6LHOFRQGXFWRUUHDFFLRQDDFWLYDಢ
PHQWHQRVHSURGXFLUÒHODYLVR
$FWLYDFLäQ
(OVLVWHPDVäORIXQFLRQDDYHORFLGDಢ
GHVVXSHULRUHVDNPK\VLKD\
PDUFDVGHFDUULO
&XDQGRHOVLVWHPDGHWHFWDXQFDPELR
LQYROXQWDULRGHFDUULOHOWHVWLJRGH
FRQWUROFDPELDDDPDULOOR\SDUSDಢ
GHD6LPXOWÒQHDPHQWHVHDFWLYDXQ
DYLVRDFëVWLFR
$YLVRGHFDPELRGHFDUULO
(OVLVWHPDGHDYLVRGHFDPELRGHFDಢ
UULOREVHUYDODVPDUFDVGHOFDUULOHQWUH
ODVTXHFLUFXODHOYHKÞFXORPHGLDQWH
XQDFÒPDUDIURQWDO(OVLVWHPDGHಢ
WHFWDORVFDPELRVGHFDUULO\DYLVDDO
FRQGXFWRUHQFDVRGHXQFDPELRLQಢ
YROXQWDULRGHFDUULOPHGLDQWHVHâDOHV
DFëVWLFDV\YLVXDOHV
/RVFULWHULRVSDUDGHWHFWDUXQFDPELR
LQYROXQWDULRGHFDUULOVRQ
ထ 1RVHKDQDFFLRQDGRORVLQWHUPLಢ
WHQWHV
ထ 1RVHKDDFFLRQDGRHOSHGDOGHO
IUHQR
'HVDFWLYDFLäQ
(OVLVWHPDGHDYLVRGHFDPELRGHFDಢ
UULOVHDFWLYDSXOVDQGR(O/('HQಢ
FHQGLGRHQHOERWäQLQGLFDTXHHOVLVಢ
WHPDHVWÒFRQHFWDGR&XDQGRHOWHVಢ
WLJRGHFRQWUROHQHOFXDGURGHLQVಢ
WUXPHQWRVVHHQFLHQGHHQYHUGHHO
VLVWHPDHVWÒOLVWRSDUDIXQFLRQDU
(OVLVWHPDVHGHVDFWLYDSXOVDQGR
HO/('GHOERWäQVHDSDJD
$YHORFLGDGHVLQIHULRUHVDNPKHO
VLVWHPDQRIXQFLRQD
&RQGXFFLäQ\PDQHMR
$YHUÞD
(OVLVWHPDGHDYLVRGHFDPELRGHFDಢ
UULOSXHGHIXQFLRQDULQFRUUHFWDPHQWH
VL
ထ (OSDUDEULVDVHVWÒVXFLRRDIHFಢ
WDGRSRUHOHPHQWRVH[WUDâRVSRU
HMHPSORDGKHVLYRV
ထ +D\FRQGLFLRQHVDPELHQWDOHVDGಢ
YHUVDVFRPRIXHUWHOOXYLDQLHYH
UDGLDFLäQVRODUGLUHFWDRVRPಢ
EUDV
(OVLVWHPDQRSXHGHIXQFLRQDU
FXDQGRQRVHGHWHFWDQODVPDUFDVGH
FDUULO
&RPEXVWLEOH
&RPEXVWLEOHSDUDPRWRUHV
GHJDVROLQD
8WLOLFHVäORFRPEXVWLEOHVLQSORPR
TXHFXPSODODQRUPDHXURSHD
(1R(',1RHTXLYDಢ
OHQWH
(OPRWRUSXHGHIXQFLRQDUFRQFRPಢ
EXVWLEOHTXHFRQWHQJDKDVWDXQ
GHHWDQROSRUHMHPSOR(
8WLOLFHFRPEXVWLEOHFRQHORFWDQDMH
UHFRPHQGDGR/RVUHTXLVLWRVHVSHಢ
FÞILFRVGHOPRWRUVHRIUHFHQHQODYLಢ
VLäQJHQHUDOGHGDWRVGHOPRWRU
8QDHWLTXHWDHVSHFÞILFDGHO
SDÞVHQODWDSDGHOGHSäVLWRGHFRPಢ
EXVWLEOHSXHGHGHMDUVLQHIHFWRHOUHಢ
TXLVLWR
$WHQFLäQ
1RXWLOLFHFRPEXVWLEOHVQLDGLWLYRV
SDUDHOFRPEXVWLEOHTXHFRQWHQಢ
JDQFRPSXHVWRVPHWÒOLFRVFRPR
ORVDGLWLYRVDEDVHGHPDQJDQHVR
(VWRSXHGHRFDVLRQDUGDâRVHQHO
PRWRU
$WHQFLäQ
(OXVRGHFRPEXVWLEOHTXHQR
FXPSODODQRUPD(1R(',1
RHTXLYDOHQWHSXHGHSURಢ
YRFDUODDFXPXODFLäQGHGHSäVLWRV
RGDâRVHQHOPRWRU
$WHQFLäQ
(OFRPEXVWLEOHFRQXQRFWDQDMH
GHPDVLDGREDMRSXHGHRFDVLRQDU
XQDFRPEXVWLäQLQFRQWURODGD\GDಢ
âRVHQHOPRWRU
&RPEXVWLEOHSDUDPRWRUHV
GLÚVHO
8WLOLFHVäORFRPEXVWLEOHGLÚVHOTXH
FXPSODODQRUPD(1
(QORVSDÞVHVTXHQRSHUWHQH]FDQD
OD8QLäQ(XURSHDXWLOLFH(XUR'LHVHO
FRQXQDFRQFHQWUDFLäQGHD]XIUHLQಢ
IHULRUDSSP
&RQGXFFLäQ\PDQHMR
$WHQFLäQ
(OXVRGHFRPEXVWLEOHTXHQR
FXPSOHFRQODQRUPDWLYD(1R
VLPLODUSXHGHFRQGXFLUDXQDSÚUಢ
GLGDGHSRWHQFLDGHOPRWRUXQ
GHVJDVWHPD\RUGHOPRWRURGDâRV
HQHOPRWRU
1RXWLOLFHGLÚVHOPDULQRJDVäOHRV
SDUDFDOHIDFFLäQ$TXD]ROHQLHPXOಢ
VLRQHVGHGLÚVHODJXDVLPLODUHV1R
GHEHGLOXLUVHHOFRPEXVWLEOHGLÚVHO
FRQFRPEXVWLEOHSDUDPRWRUHVGHJDಢ
VROLQD
&RPEXVWLEOHSDUD
IXQFLRQDPLHQWRFRQJDV
OLFXDGR
(OJDVOLFXDGRVHFRQRFHFRPR/3*
JDVOLFXDGRGHOSHWUäOHRRSRUVXGHಢ
QRPLQDFLäQIUDQFHVD*3/*D]GH
3ÚWUROH/LTXÚILÚ(O*/3WDPELÚQVH
FRQRFHFRPRDXWRJÒV
(O*/3VHFRPSRQHSULQFLSDOPHQWH
GHSURSDQR\EXWDQR(ORFWDQDMHVH
VLWëDHQWUH\GHSHQGLHQGR
GHODSURSRUFLäQGHEXWDQR(O*/3VH
DOPDFHQDHQIRUPDOÞTXLGDDXQDSUHಢ
VLäQGHDDSUR[LPDGDPHQWHEDಢ
UHV
6XSXQWRGHHEXOOLFLäQGHSHQGHGHOD
SUHVLäQ\ODUHODFLäQGHODPH]FOD$
SUHVLäQDWPRVIÚULFDRVFLODHQWUH
¡&SURSDQRSXUR\¡&EXಢ
WDQRSXUR
6HOHFWRUGHFRPEXVWLEOH
$WHQFLäQ
(OVLVWHPDIXQFLRQDFRQXQDWHPಢ
SHUDWXUDDPELHQWHGH¡&WR
¡&DSUR[LPDGDPHQWH
(OFRUUHFWRIXQFLRQDPLHQWRGHOVLVಢ
WHPD*/3VäORVHSXHGHJDUDQWL]DUVL
HOJDVOLFXDGRFXPSOHORVUHTXLVLWRV
PÞQLPRVGHODQRUPD',1(1
3XOVH/
/3*SDUDFDPELDUHQWUHHOIXQಢ
FLRQDPLHQWRFRQJDVROLQD\FRQJDV
OLFXDGRHQFXDQWRVHKD\DQDOFDQಢ
]DGRORVSDUÒPHWURVUHTXHULGRVWHPಢ
SHUDWXUDGHOUHIULJHUDQWHWHPSHUDಢ
WXUDGHOJDV\UÚJLPHQPÞQLPRGHO
PRWRU/RVUHTXLVLWRVVHVXHOHQFXPಢ
SOLUGHVSXÚVGHDSUR[LPDGDPHQWH
XQRVVHJXQGRVGHSHQGLHQGRGH
ODWHPSHUDWXUDH[WHULRU\GHSLVDUFRQ
IXHU]DHODFHOHUDGRU(O/('GHHVಢ
WDGRPXHVWUDHOPRGRGHIXQFLRQDಢ
PLHQWRDFWXDO
&RQGXFFLäQ\PDQHMR
GHVFRಢ
IXQFLRQDPLHQWRFRQ
JDVROLQD
QHFWDU
SDUSDGHD FRPSUREDFLäQGH
FRQGLFLRQHVSDUDOD
WUDQVLFLäQGHFRPಢ
EXVWLEOHSDUDHOIXQಢ
FLRQDPLHQWRFRQJDV
OLFXDGR6HHQಢ
FLHQGHVLVHFXPSOHQ
ODVFRQGLFLRQHV
VH
IXQFLRQDPLHQWRFRQ
JDVOLFXDGR
HQFLHQGH
SDUSDGHD HOGHSäVLWRGHJDVOLಢ
FLQFRYHFHV\ FXDGRHVWÒYDFÞRR
KD\XQIDOORHQHOVLVಢ
VHDSDJD
WHPDGHJDVOLFXDGR
$SDUHFHXQPHQVDMH
HQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFಢ
WRU
6LHOGHSäVLWRGHFRPEXVWLEOHHVWÒYDಢ
FÞRHOPRWRUQRDUUDQFD
(OPRGRGHFRPEXVWLEOHVHOHFFLRಢ
QDGRVHJXDUGD\UHDFWLYDHQHOVLಢ
JXLHQWHFLFORGHHQFHQGLGRVLODVFRQಢ
GLFLRQHVORSHUPLWHQ
(QFXDQWRVHYDFÞDHOGHSäVLWRGHJDV
OLFXDGRVHFDPELDDXWRPÒWLFDPHQWH
DOIXQFLRQDPLHQWRFRQJDVROLQDKDVWD
TXHVHGHVFRQHFWHHOHQFHQGLGR
$OFDPELDUDXWRPÒWLFDPHQWHHQWUH
IXQFLRQDPLHQWRFRQJDVROLQDRJDV
VHSRGUÒDSUHFLDUXQEUHYHUHWDUGRGH
ODSRWHQFLDWUDFWRUDGHOPRWRU
&DGDVHLVPHVHVGHEHDJRWDUHOGHಢ
SäVLWRGHJDVROLQDKDVWDTXHVHLOXಢ
PLQHHOWHVWLJRGHFRQWURO,R8
\OXHJRUHSRVWDU(VWRD\XGDDPDQಢ
WHQHUODFDOLGDGGHOFRPEXVWLEOH\OD
RSHUDWLYLGDGGHOVLVWHPDSDUDHOIXQಢ
FLRQDPLHQWRFRQJDVROLQD
(OGHSäVLWRGHOYHKÞFXORVHGHEHOOHಢ
QDUGHFRPEXVWLEOHDLQWHUYDORVUHJXಢ
ODUHVSDUDHYLWDUVXFRUURVLäQ
3UREOHPDV\VROXFLRQHV
6LQRHVSRVLEOHHOIXQFLRQDPLHQWR
FRQJDVFRPSUXHEHORVLJXLHQWH
ထ °+D\VXILFLHQWHJDVOLFXDGR"
ထ °+D\VXILFLHQWHJDVROLQDSDUD
DUUDQFDU"
'HELGRDODVWHPSHUDWXUDVH[WUHPDV
HQFRPELQDFLäQFRQODFRPSRVLFLäQ
GHOJDVHOVLVWHPDSXHGHWDUGDUXQ
SRFRPÒVHQFDPELDUGHJDVROLQDD
JDV
(QVLWXDFLRQHVH[WUHPDVHOVLVWHPD
WDPELÚQSXHGHYROYHUDFDPELDUDO
PRGRGHJDVROLQDVLORVUHTXLVLWRVPÞಢ
QLPRVQRVHFXPSOHQ6LODVFRQGLಢ
FLRQHVORSHUPLWHQVHSXHGHFDPELDU
PDQXDOPHQWHDIXQFLRQDPLHQWRFRQ
JDVOLFXDGR
3DUDFXDOTXLHURWURWLSRGHDYHUÞDUHಢ
FXUUDDODD\XGDGHXQWDOOHU
$WHQFLäQ
3DUDFRQVHUYDUODVHJXULGDG\OD
JDUDQWÞDGHOVLVWHPDGH*/3ODV
UHSDUDFLRQHVRDMXVWHVVäORGHEHQ
VHUUHDOL]DGRVSRUSHUVRQDOWÚFಢ
QLFRFXDOLILFDGR
$OJDVOLFXDGRVHOHDâDGHXQRORU
SDUWLFXODUSURFHVRGHRGRUL]DFLäQ
SDUDSRGHUGHWHFWDUIÒFLOPHQWHSRVLಢ
EOHVIXJDV
&RQGXFFLäQ\PDQHMR
$GYHUWHQFLD
6LKXHOHDJDVHQHOYHKÞFXORRHQ
VXVLQPHGLDFLRQHVFDPELHLQPHಢ
GLDWDPHQWHDOIXQFLRQDPLHQWRFRQ
JDVROLQD3URKLELGRIXPDU(YLWH
ODVOODPDVDELHUWDVRODVIXHQWHV
GHLJQLFLäQ
6LHORORUDJDVSHUVLVWHQRDUUDQTXH
HOPRWRU&LHUUHODOODYHGHSDVRPDಢ
QXDOHQODYÒOYXODPëOWLSOHVLIXHUDSRಢ
VLEOH/DYÒOYXODPëOWLSOHHVWÒVLWXDGD
HQHOGHSäVLWRGHJDVOLFXDGRHQHO
FRPSDUWLPHQWRGHFDUJDGHEDMRGHOD
FXELHUWDGHOSRUWDREMHWRVGHOPDOHWHUR
*LUHODUXHGDHQVHQWLGRKRUDULR
6LHORORUDJDVGHVDSDUHFHFRQOD
OODYHGHSDVRPDQXDOFHUUDGDVH
SXHGHXVDUHOYHKÞFXORHQHOPRGRGH
JDVROLQD6LHORORUDJDVSHUVLVWHQR
DUUDQTXHHOPRWRU+DJDVXEVDQDUOD
FDXVDGHODDYHUÞDHQXQWDOOHU
(QFDVRGHXWLOL]DUDSDUFDPLHQWRV
VXEWHUUÒQHRVVHGHEHQVHJXLUODV
LQVWUXFFLRQHVGHORSHUDGRU\ODQRUಢ
PDWLYDORFDO
1RWD
(QFDVRGHDFFLGHQWHGHVFRQHFWHHO
HQFHQGLGR\ODVOXFHV&LHUUHODOODYH
GHSDVRPDQXDOHQODYÒOYXODPëOWLಢ
SOH
5HSRVWDMH
3HOLJUR
$QWHVGHUHSRVWDUGHVFRQHFWHHO
HQFHQGLGR\FXDOTXLHUVLVWHPDGH
FDOHIDFFLäQH[WHUQRFRQFÒPDUD
GHFRPEXVWLäQ
$OUHSRVWDUGHEHQREVHUYDUVHODV
LQVWUXFFLRQHV\QRUPDVGHVHJXULಢ
GDGGHODHVWDFLäQGHVHUYLFLR
&RQGXFFLäQ\PDQHMR
3HOLJUR
(OFRPEXVWLEOHHVLQIODPDEOH\H[ಢ
SORVLYR3URKLELGRIXPDU(YLWHOD
SUHVHQFLDGHOODPDVGHVFXELHUWDV
RFKLVSDV
6LSHUFLEHRORUDFRPEXVWLEOHGHQಢ
WURGHOYHKÞFXORKDJDVXEVDQDUOD
FDXVDLQPHGLDWDPHQWHHQXQWDಢ
OOHU
$WHQFLäQ
(QFDVRGHUHSRVWDUFRPEXVWLEOH
LQFRUUHFWRQRFRQHFWHHOHQFHQಢ
GLGR
/DWDSDGHOGHSäVLWRGHFRPEXVWLEOH
HVWÒVLWXDGDHQHOODGRWUDVHURGHUHಢ
FKRGHOYHKÞFXOR
/DWDSDGHOGHSäVLWRVäORVHSXHGH
DEULUFRQHOYHKÞFXORGHVEORTXHDGR
'HVEORTXHHODWDSDGHOGHSäVLWRGH
FRPEXVWLEOHSXOVDQGRVREUHOD
PLVPD
5HSRVWDMHGHJDVROLQD\GLÚVHO
3DUDDEULUJLUHODWDSDOHQWDPHQWHKDಢ
FLDODL]TXLHUGD
(OWDSäQGHOGHSäVLWRVHSXHGHHQಢ
JDQFKDUHQHOVRSRUWHGHODWDSDGHO
GHSäVLWRGHFRPEXVWLEOH
3DUDUHSRVWDULQWURGX]FDWRWDOPHQWH
ODSLVWRODGHOVXUWLGRU\FRQÚFWHOD
7UDVODLQWHUUXSFLäQDXWRPÒWLFDVH
SXHGHUHOOHQDUHOGHSäVLWRFRQODSLVಢ
WRODGHOVXUWLGRUKDVWDXQPÒ[LPRGH
GRVGRVLVGHFRPEXVWLEOH
$WHQFLäQ
/LPSLHLQPHGLDWDPHQWHHOFRPಢ
EXVWLEOHTXHKD\DSRGLGRUHERVDU
&RQGXFFLäQ\PDQHMR
3DUDFHUUDUJLUHHOWDSäQGHOGHSäVLWR
HQVHQWLGRKRUDULRKDVWDTXHKDJD
FOLF
&LHUUHODWDSD\GHMHTXHVHHQFODYH
(QFDVRGHHPHUJHQFLDUHOOHQHFRQ
XQDODWD6HGHEHXWLOL]DUXQHPEXGR
SDUDDEULUHOWDSäQGHODERFDGHOOHಢ
QDGR
9HKÞFXORVFRQLQKLELGRUGH
FRPEXVWLEOHHUUäQHR
$GYHUWHQFLD
1RLQWHQWHDEULUODWDSDGHODERFD
GHOOHQDGRGHFRPEXVWLEOHPDಢ
QXDOPHQWHHQYHKÞFXORVFRQLQKLಢ
ELGRUGHFRPEXVWLEOHHUUäQHR
'HORFRQWUDULRORVGHGRVSRGUÞDQ
TXHGDUDWUDSDGRV
/RVYHKÞFXORVFRQVLVWHPDGHUHGXFಢ
FLäQFDWDOÞWLFDVHOHFWLYDHVWÒQHTXLSDಢ
GRVFRQXQLQKLELGRUGHFRPEXVWLEOH
HUUäQHR
(OLQKLELGRUGHFRPEXVWLEOHHUUäQHR
JDUDQWL]DTXHODWDSDGHODERFDGH
OOHQDGRGHFRPEXVWLEOHVRORSXHGD
DEULUVHXVDQGRXQDERTXLOODSDUD
FRPEXVWLEOHGLÚVHORXQHPEXGRSDUD
UHSRVWDMHGHHPHUJHQFLD
*LUHODWDSDGHOOHQDGRGHFRPEXVWLಢ
EOHOHQWDPHQWHKDFLDODL]TXLHUGD
(OWDSäQVHSXHGHHQJDQFKDUHQHO
VRSRUWHGHODWDSDGHOGHSäVLWRGH
FRPEXVWLEOH
&RORTXHODERTXLOODHQSRVLFLäQUHFWD
HQODERFDGHOOHQDGR\SUHVLRQHOLJHಢ
UDPHQWHSDUDLQVHUWDUOD
(OHPEXGRVHHQFXHQWUDHQHOFRPಢ
SDUWLPHQWRGHFDUJD
&RORTXHHOHPEXGRHQSRVLFLäQUHFWD
HQODERFDGHOOHQDGR\SUHVLRQHOLJHಢ
UDPHQWHSDUDLQVHUWDUOR
8WLOLFHHOHPEXGRSDUDLQWURGXFLUHO
FRPEXVWLEOHGLÚVHOHQODERFDGHOOHಢ
QDGR
7UDVUHOOHQDUFRORTXHHOHPEXGRHQ
ODEROVDGHSOÒVWLFR\YXHOYDDFRORಢ
FDUORHQHOFRPSDUWLPHQWRGHFDUJD
&RQGXFFLäQ\PDQHMR
6LVWHPDGHUHGXFFLäQFDWDOÞWLFDVHಢ
OHFWLYD
5HSRVWDUJDVOLFXDGR
$OUHSRVWDUGHEHQREVHUYDUVHODV
LQVWUXFFLRQHV\QRUPDVGHVHJXULGDG
GHODHVWDFLäQGHVHUYLFLR
/DYÒOYXODGHOOHQDGRSDUDHOJDVOLಢ
FXDGRHVWÒGHWUÒVGHODWDSDGHOGHಢ
SäVLWR
(QURVTXHDPDQRHODGDSWDGRUUHಢ
TXHULGRHQODERFDGHOOHQDGR
'HVHQURVTXHHOFDSXFKäQSURWHFWRU
GHODERFDGHOOHQDGR
$GDSWDGRU$&0((QURVTXHODWXHUFD
GHODSLVWRODGHOOHQDGRHQHODGDSWDಢ
GRU3XOVHODSDODQFDGHEORTXHRGH
ODSLVWRODGHOOHQDGR
%RFDGHOOHQDGR',6+,QWURGX]FDOD
SLVWRODGHOOHQDGRHQHODGDSWDGRU
3XOVHODSDODQFDGHEORTXHRGHODSLVಢ
WRODGHOOHQDGR
%RFDGHOOHQDGRGHED\RQHWD,QWURಢ
GX]FDODSLVWRODGHOVXUWLGRUHQHO
DGDSWDGRU\JLUHHQVHQWLGRGHODV
DJXMDVGHOUHORMRHQVHQWLGRFRQWUDULR
GHODVDJXMDVGHOUHORMFRQXQFXDUWR
GHYXHOWD$SULHWHDWRSHODSDODQFD
GHEORTXHRGHODSLVWRODGHOOHQDGR
%RFDGHOOHQDGR(8523UHVLRQHOD
SLVWRODGHOOHQDGRVREUHHODGDSWDGRU
KDVWDTXHVHHQFODYH
3XOVHHOERWäQGHOVXUWLGRUGHJDVOLಢ
FXDGR(OVXUWLGRUVHSDUDUÒRIXQFLRಢ
QDUÒPX\OHQWDPHQWHFXDQGRVHDOಢ
FDQ]DXQGHOYROXPHQGHOGHSäಢ
VLWRFDQWLGDGGHOOHQDGRPÒ[LPD
6XHOWHHOERWäQGHOVXUWLGRUSDUDGHಢ
WHQHUHOSURFHVRGHOOHQDGR6XHOWHOD
SDODQFDGHEORTXHR\UHWLUHODSLVWROD
GHOOHQDGR3XHGHHVFDSDUVHXQD
FDQWLGDGPÞQLPDGHJDVOLFXDGR
&RQGXFFLäQ\PDQHMR
'HVPRQWHHODGDSWDGRU\JXÒUGHORHQ
HOYHKÞFXOR
&RORTXHHOFDSXFKäQSURWHFWRUSDUD
HYLWDUODHQWUDGDGHFXHUSRVH[WUDâRV
HQODERFDGHOOHQDGR\HQHOVLVWHPD
$GDSWDGRUHVGHOOHQDGR
&RPRDëQQRVHKDQQRUPDOL]DGRORV
VLVWHPDVGHOOHQDGRVRQQHFHVDULRV
GLVWLQWRVDGDSWDGRUHVTXHSXHGHREಢ
WHQHUHQVX'LVWULEXLGRUR5HSDUDGRU
$XWRUL]DGR2SHO
$GYHUWHQFLD
'HELGRDOGLVHâRGHOVLVWHPDHV
LQHYLWDEOHTXHVDOJDJDVOLFXDGR
WUDVVROWDUODSDODQFDGHEORTXHR
(YLWHVXLQKDODFLäQ
$GDSWDGRUGHED\RQHWD3DÞVHV%Dಢ
MRV1RUXHJD(VSDâD5HLQR8QLGR
$GYHUWHQFLD
3RUPRWLYRVGHVHJXULGDGHOGHಢ
SäVLWRGHJDVOLFXDGRVRORGHEHUÞD
OOHQDUVHKDVWDHOGHVXFDSDಢ
FLGDG
/DYÒOYXODPëOWLSOHGHOGHSäVLWRGH
JDVOLFXDGROLPLWDDXWRPÒWLFDPHQWHOD
FDQWLGDGGHOOHQDGR6LVHKXELHUDUHಢ
SRVWDGRXQDFDQWLGDGPD\RUOHUHFRಢ
PHQGDPRVQRHVWDFLRQDUHOYHKÞFXOR
DOVROKDVWDTXHODFDQWLGDGVREUDQWH
VHKD\DFRQVXPLGR
$GDSWDGRU$&0(%ÚOJLFD$OHPDQLD
,UODQGD/X[HPEXUJR6XL]D
$GDSWDGRU(852(VSDâD
&RQGXFFLäQ\PDQHMR
&RQVXPRGHFRPEXVWLEOH
HPLVLRQHVGH&2
$GDSWDGRU',6+$XVWULD%RVQLD
+HU]HJRYLQD%XOJDULD&URDFLD5Hಢ
SëEOLFD&KHFD'LQDPDUFD(VWRQLD
)UDQFLD*UHFLD+XQJUÞD,WDOLD/HWRಢ
QLD/LWXDQLD0DFHGRQLD3RORQLD
3RUWXJDO5XPDQÞD6HUELD(VORYDಢ
TXLD(VORYHQLD6XHFLD6XL]D7XUಢ
TXÞD8FUDQLD
(OFRQVXPRGHFRPEXVWLEOHPL[WR
GHOPRGHOR2SHO,QVLJQLDVHVLWëDQ
HQWUH\OSRUFDGDNP
6HJëQHOSDÞVHOFRQVXPRGHFRPಢ
EXVWLEOHVHPXHVWUDHQNPO(QHVWH
FDVRHOFRQVXPRGHFRPEXVWLEOH
FRPELQDGRGHOPRGHOR2SHO,QVLJಢ
QLDHVWÒGHQWURGHOLQWHUYDORGHD
NPO
/DVHPLVLRQHVGH&2WRWDOHVVHVLಢ
WëDQHQWUH\JNP
3DUDFRQRFHUORVYDORUHVHVSHFÞILFRV
GHOYHKÞFXORFRQVXOWHHOFHUWLILFDGR
GHFRQIRUPLGDG&((TXHVHHQWUHJD
FRQHOYHKÞFXORRODGRFXPHQWDFLäQ
GHPDWULFXODFLäQQDFLRQDO
7DSäQGHOGHSäVLWR
,QIRUPDFLäQJHQHUDO
8WLOLFHVäORWDSRQHVGHOGHSäVLWRRULಢ
JLQDOHV/RVYHKÞFXORVFRQPRWRUGLÚಢ
VHO\PRWRUGHHWDQROWLHQHQWDSRQHV
GHOGHSäVLWRHVSHFLDOHV
/DVFLIUDVGHOFRQVXPRGHFRPEXVWLಢ
EOH\ODVHPLVLRQHVGH&2RILFLDOHV
FLWDGDVHVWÒQUHODFLRQDGDVFRQHOPRಢ
GHORVHXURSHRFRQHTXLSDPLHQWRHVಢ
WÒQGDU
/DLQIRUPDFLäQVREUHHOFRQVXPRGH
FRPEXVWLEOH\HPLVLRQHVGH&2VH
GHWHUPLQDFRQIRUPHDODQRUPDWLYD5
(&1RHQODYHUVLäQFRಢ
UUHVSRQGLHQWHUHVSHFWLYDPHQWHWHಢ
QLHQGRHQFXHQWDHOSHVRGHOYHKÞFXOR
HQHORUGHQHVWDEOHFLGRFRQIRUPHVH
HVSHFLILTXHHQODQRUPDWLYD
/DVFLIUDVVHSURSRUFLRQDQH[FOXVLYDಢ
PHQWHSDUDFRPSDUDUODVGLVWLQWDVYDಢ
ULDQWHVGHOYHKÞFXOR\QRGHEHQFRQಢ
VLGHUDUVHFRPRXQDJDUDQWÞDGHOFRQಢ
VXPRUHDOGHFRPEXVWLEOHGHXQYHಢ
KÞFXORHQSDUWLFXODU(OHTXLSDPLHQWR
DGLFLRQDOGHEHSURSRUFLRQDUFLIUDVOLಢ
JHUDPHQWHPÒVHOHYDGDVTXHODVFLಢ
IUDVGHFRQVXPR\&2$GHPÒVHO
FRQVXPRGHFRPEXVWLEOHGHSHQGH
GHOHVWLORGHFRQGXFFLäQSHUVRQDODVÞ
FRPRGHOHVWDGRGHODVFDUUHWHUDV\
GHOWUÒILFR
&RQGXFFLäQ\PDQHMR
(QJDQFKHGHOUHPROTXH
,QIRUPDFLäQJHQHUDO
(OGLVSRVLWLYRGHUHPROTXHPRQWDGR
GHIÒEULFDHVWÒSOHJDGRGHEDMRGHO
SDQHOGHOSDUDFKRTXHVWUDVHUR
&RQIÞHHOPRQWDMHSRVWHULRUGHXQGLVಢ
SRVLWLYRGHUHPROTXHDXQWDOOHU3XHಢ
GHQVHUQHFHVDULDVPRGLILFDFLRQHVHQ
HOYHKÞFXORTXHDIHFWHQDOVLVWHPDGH
UHIULJHUDFLäQODVSDQWDOODVWÚUPLFDVX
RWURVHTXLSRV6äORGHEHXWLOL]DUVHXQ
GLVSRVLWLYRGHUHPROTXHKRPRORJDGR
SDUDVXYHKÞFXOR
3DUDQRGDâDUHOYHKÞFXORQRVH
SXHGHDFFLRQDUHOSRUWäQWUDVHUR
HOÚFWULFRFRQHOPDQGRDGLVWDQFLD
FXDQGRVHFRQHFWDHOÚFWULFDPHQWHXQ
UHPROTXH
/DIXQFLäQGHGHWHFFLäQGHDYHUÞDGH
ERPELOODVSDUDODOX]GHIUHQRGHOUHಢ
PROTXHQRSXHGHGHWHFWDUXQDDYHUÞD
SDUFLDOSRUHMHPSORHQHOFDVRGH
ERPELOODVGHFXDWURYHFHV:ODIXQಢ
FLäQëQLFDPHQWHGHWHFWDUÒXQDDYHUÞD
FXDQGRVHHQFLHQGDVäORXQDERPELಢ
OODGH:RQLQJXQD
(OPHFDQLVPRGHPRQWDMHGHOGLVSRಢ
VLWLYRGHUHPROTXHSXHGHFXEULUHORULಢ
ILFLRGHODDUJROODSDUDUHPROFDU(Q
HVHFDVRXWLOLFHODEDUUDGHUäWXOD
SDUDHQJDQFKDUOR
$OEDMDUSHQGLHQWHVVHOHFFLRQHOD
PLVPDPDUFKD\FLUFXOHDSUR[LPDGDಢ
PHQWHDODPLVPDYHORFLGDGTXHSDUD
VXELUODV
$MXVWHODSUHVLäQGHORVQHXPÒWLFRVDO
YDORULQGLFDGRSDUDFDUJDFRPSOHWD
&DUDFWHUÞVWLFDVGH
FRQGXFFLäQ\
UHFRPHQGDFLRQHVSDUDHO
XVRGHOUHPROTXH
8VRGHOUHPROTXH
$QWHVGHHQJDQFKDUXQUHPROTXHOXಢ
EULTXHODUäWXODREROD6LQHPEDUJR
QRGHEHOXEULFDUVHFXDQGRODUäWXOD
OOHYHXQDEDUUDHVWDELOL]DGRUDSDUD
DPRUWLJXDUODVRVFLODFLRQHV
3DUDUHPROTXHVFRQHVFDVDHVWDELOLಢ
GDGGHPDUFKD\UHPROTXHVFRQXQ
SHVRPÒ[LPRDXWRUL]DGRVXSHULRUD
NJWUDFFLäQGHODQWHUDNJ
WUDFFLäQWRWDOVHUHFRPLHQGDHOXVR
GHXQDEDUUDHVWDELOL]DGRUDSDUDFLUಢ
FXODUDPÒVGHNPK
6LHOUHPROTXHFRPLHQ]DDRVFLODU
GLVPLQX\DODYHORFLGDG\QRLQWHQWH
FRPSHQVDUGLFKRPRYLPLHQWRFRQOD
GLUHFFLäQHQFDVRQHFHVDULRIUHQHD
IRQGR
/DVFDUJDVGHUHPROTXHDXWRUL]DGDV
GHSHQGHQGHORVYDORUHVPÒ[LPRVGHO
PRWRU\GHOWLSRGHYHKÞFXOR\QRVH
GHEHQVXSHUDUQXQFD/DFDUJDGHUHಢ
PROTXHUHDOHVODGLIHUHQFLDHQWUHHO
SHVRPÒ[LPRGHOUHPROTXH\ODFDUJD
GHDSR\RUHDOFRQHOUHPROTXHDFRಢ
SODGR
/DVFDUJDVGHUHPROTXHDXWRUL]DGDV
VHHVSHFLILFDQHQODGRFXPHQWDFLäQ
GHOYHKÞFXOR(QJHQHUDOHVWRVYDORಢ
UHVVRQYÒOLGRVSDUDSHQGLHQWHVGHO
FRPRPÒ[LPR
/DFDUJDGHUHPROTXHDXWRUL]DGDHV
DSOLFDEOHKDVWDODSHQGLHQWHHVSHFLILಢ
FDGD\XQDDOWXUDGHKDVWD
PHWURVVREUHHOQLYHOGHOPDU
&DUJDVGHUHPROTXH
&RQGXFFLäQ\PDQHMR
3XHVWRTXHODSRWHQFLDGHOPRWRUGLVಢ
PLQX\HDODXPHQWDUODDOWXUDGHELGRD
ODPHQRUGHQVLGDGGHODLUH\SRU
WDQWRVHUHGXFHWDPELÚQODFDSDFLಢ
GDGGHVXELGDHOSHVRPÒ[LPRDXWRಢ
UL]DGRFRQUHPROTXHWDPELÚQVHUHಢ
GXFHXQSRUFDGDPHWURV
GHDOWXUDDGLFLRQDO1RHVQHFHVDULR
UHGXFLUHOSHVRPÒ[LPRDXWRUL]DGR
FRQUHPROTXHVLVHFLUFXODSRUFDUUHಢ
WHUDVFRQHVFDVDSHQGLHQWHLQIHULRU
DOSRUHMHPSORHQDXWRSLVWDV
1RVHGHEHH[FHGHUHOSHVRPÒ[LPR
DXWRUL]DGRFRQUHPROTXH'LFKRSHVR
VHHVSHFLILFDHQODSODFDGHFDUDFWHಢ
UÞVWLFDV
&DUJDGHDSR\R
/DFDUJDGHDSR\RHVODFDUJDHMHUಢ
FLGDVREUHODUäWXODGHDFRSODPLHQWR
SRUHOUHPROTXH6HSXHGHDOWHUDUPRಢ
GLILFDQGRODGLVWULEXFLäQGHOSHVRDO
FDUJDUHOUHPROTXH
/DFDUJDGHDSR\RPÒ[LPDDXWRULಢ
]DGDNJVHHVSHFLILFDHQODSODFD
GHFDUDFWHUÞVWLFDVGHOGLVSRVLWLYRGH
UHPROTXH\HQODGRFXPHQWDFLäQGHO
YHKÞFXOR6LHPSUHGHEHLQWHQWDUDOಢ
FDQ]DUODFDUJDPÒ[LPDHVSHFLDOಢ
PHQWHHQHOFDVRGHUHPROTXHVSHಢ
VDGRV/DFDUJDGHDSR\RQXQFDGHಢ
EHUÞDVHULQIHULRUDNJ
&DUJDVREUHHOHMHWUDVHUR
&RQHOUHPROTXHHQJDQFKDGR\FRQ
FDUJDFRPSOHWDGHOYHKÞFXORWUDFWRU
VHSHUPLWHTXHODFDUJDPÒ[LPDDGಢ
PLVLEOHVREUHHOHMHWUDVHURYÚDVHHO
GDWRHQODSODFDGHFDUDFWHUÞVWLFDVR
HQODGRFXPHQWDFLäQGHOYHKÞFXORVH
VREUHSDVHHQNJSDUDODYHUVLäQ
6HGÒQSXHUWDVSXHUWDV\HQ
NJSDUDHO6SRUWV7RXUHU&RXQWU\
7RXUHUHOSHVRPÒ[LPRDXWRUL]DGRVH
SXHGHVREUHSDVDUHQNJSDUDOD
YHUVLäQ6HGÒQSXHUWDVSXHUWDV\
HQNJSDUDHO6SRUWV7RXUHU
&RXQWU\7RXUHU6LVHVREUHSDVDOD
FDUJDDGPLVLEOHVREUHHOHMHWUDVHUR
ODYHORFLGDGPÒ[LPDDSOLFDEOHHVGH
NPK
'LVSRVLWLYRGHUHPROTXH
$WHQFLäQ
/DEDUUDGHUäWXODSOHJDEOHQRVH
SXHGHGHVPRQWDUGHOYHKÞFXOR6L
QRYDDFLUFXODUFRQUHPROTXHVH
GHEHUHSOHJDUODEDUUDGHUäWXOD
$GYHUWHQFLD
$VHJëUHVHGHTXHQRKD\DQDGLH
HQOD]RQDGHEDVFXODFLäQGHOD
EDUUDGHUäWXOD5LHVJRGHOHVLRಢ
QHV
&XDQGRGHVEORTXHHODEDUUDGH
UäWXODJXDUGDGDDVHJëUHVHGHVLಢ
WXDUVHDODL]TXLHUGDGHODVD
&RQGXFFLäQ\PDQHMR
'HVEORTXHDUODEDUUDGHUäWXOD
JXDUGDGD
7LUHGHODVDVLWXDGDDODL]TXLHUGDGH
ODPDWUÞFXODGHEDMRGHOSDQHOGHOSDಢ
UDFKRTXHVWUDVHURHQXQÒQJXORGH
DSUR[«DOVXHOR
*XDUGDURFXOWDUODEDUUDGHUäWXOD
&XDQGRVHWLUDGHODVDGHGHVEORTXHR
\VHGHVHQFODYDODUäWXODVXHQDXQ
DYLVRDFëVWLFR
8QDYH]GHVEORTXHDGDFRMDODEDUUD
GHUäWXOD\OHYÒQWHODKDVWDTXHTXHGH
HQFODYDGD
$VHJëUHVHGHTXHODEDUUDGHDFRಢ
SODPLHQWRHVWÒFRUUHFWDPHQWHHQJDQಢ
FKDGD\ODPDQLOODVXHOWDHVWÒGLUHFಢ
FLRQDGDKDFLDDWUÒVDVXSRVLFLäQ
RFXOWDLQLFLDOHQFDVRFRQWUDULRHO
DYLVRDFëVWLFRQRGHMDUÒGHVRQDU
7LUHGHODVDVLWXDGDDODL]TXLHUGDGH
ODPDWUÞFXODGHEDMRGHOSDQHOGHOSDಢ
UDFKRTXHVWUDVHURHQXQÒQJXORGH
DSUR[LPDGDPHQWH¡UHVSHFWRHO
VXHOR
&RQGXFFLäQ\PDQHMR
&RQODSDOPDGHODPDQREDVFXOHOD
EDUUDGHUäWXODGHVEORTXHDGDKDFLDOD
GHUHFKDKDVWDTXHTXHGHHQFODYDGD
GHEDMRGHOSLVR$VHJëUHVHGHYROYHU
DFRORFDUHODVDHQVXSRVLFLäQRFXOWD
LQLFLDOHQFDVRFRQWUDULRHODYLVR
DFëVWLFRQRGHMDUÒGHVRQDU
$GYHUWHQFLD
&XDQGRVHWLUDGHODVDGHGHVEORTXHR
\VHGHVHQFODYDODUäWXODVXHQDXQ
DYLVRDFëVWLFR
(OXVRGHXQUHPROTXHVäORHVWÒ
SHUPLWLGRFRQODEDUUDGHUäWXOD
PRQWDGDFRUUHFWDPHQWH6LODEDಢ
UUDGHUäWXODQRHQFODYDFRUUHFWDಢ
PHQWHVLHVLPSRVLEOHJXLDUHODVD
GHGHVEORTXHRDVXSRVLFLäQ
RFXOWDLQLFLDOHQHODORMDPLHQWRRVL
HODYLVRDFëVWLFRVLJXHVRQDQGR
GHVSXÚVGHHQFODYDUODEDUUDGH
UäWXODUHFXUUDDODD\XGDGHXQWDಢ
OOHU
$UJROODSDUDHOFDEOHGHUXSWXUD
(QJDQFKHHOFDEOHGHUXSWXUDHQOD
DUJROOD
$VLVWHQWHGHHVWDELOLGDGGHO
UHPROTXH
6LHOVLVWHPDGHWHFWDXQIXHUWHPRYLಢ
PLHQWRRVFLODQWHVHUHGXFHODSRWHQಢ
FLDGHOPRWRU\VHIUHQDFDGDUXHGD
HQODPHGLGDLGäQHDKDVWDTXHFHVH
HOPRYLPLHQWRRVFLODQWH0LHQWUDVHO
VLVWHPDHVWÚIXQFLRQDQGRPXHYDHO
YRODQWHORPHQRVSRVLEOH
(ODVLVWHQWHGHHVWDELOLGDGGHOUHPROಢ
TXHHVXQDIXQFLäQGHOFRQWUROHOHFಢ
WUäQLFRGHHVWDELOLGDG
&XLGDGRGHOYHKÞFXOR
&XLGDGRGHO
YHKÞFXOR
,QIRUPDFLäQJHQHUDO $FFHVRULRV\PRGLILFDFLRQHVGHO
YHKÞFXOR ,QPRYLOL]DFLäQGHOYHKÞFXOR 5HFRJLGDGHYHKÞFXORVXVDGRV &RPSUREDFLRQHVGHOYHKÞFXOR 5HDOL]DFLäQGHWUDEDMRV &DSä $FHLWHGHOPRWRU $FHLWHGHOFDPELRDXWRPÒWLFR 5HIULJHUDQWHGHOPRWRU /ÞTXLGRGHODGLUHFFLäQDVLVWLGD /ÞTXLGRGHODYDGR )UHQRV /ÞTXLGRGHIUHQRV %DWHUÞDGHOYHKÞFXOR 3XUJDGHOVLVWHPDGH
FRPEXVWLEOHGLÚVHO 6XVWLWXFLäQGHODVHVFRELOODV 6XVWLWXFLäQGHERPELOODV )DURVKDOäJHQRV )DURVGH[HQäQ /XFHVDQWLQLHEOD /XFHVWUDVHUDV ,QWHUPLWHQWHVODWHUDOHV /X]GHODPDWUÞFXOD ,OXPLQDFLäQLQWHULRU ,OXPLQDFLäQGHOWDEOHURGH
LQVWUXPHQWRV 6LVWHPDHOÚFWULFR )XVLEOHV &DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHOPRWRU &DMDGHIXVLEOHVGHOWDEOHURGH
LQVWUXPHQWRV &DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHFDUJD +HUUDPLHQWDVGHOYHKÞFXOR +HUUDPLHQWDV /ODQWDV\QHXPÒWLFRV 5XHGDV\QHXPÒWLFRV 1HXPÒWLFRVGHLQYLHUQR 'HVLJQDFLRQHVGHORV
QHXPÒWLFRV 3UHVLäQGHORVQHXPÒWLFRV 6LVWHPDGHFRQWUROGHSUHVLäQGH
ORVQHXPÒWLFRV 3URIXQGLGDGGHOGLEXMR &DPELRGHOWDPDâRGH
QHXPÒWLFRV\OODQWDV 7DSDFXERV &DGHQDVSDUDQLHYH -XHJRGHUHSDUDFLäQGH
QHXPÒWLFRV &DPELRGHUXHGDV 5XHGDGHUHSXHVWR $UUDQTXHFRQFDEOHV 5HPROFDGR 5HPROFDGRGHOYHKÞFXOR 5HPROFDGRGHRWURYHKÞFXOR &XLGDGRGHODVSHFWR &XLGDGRH[WHULRU &XLGDGRLQWHULRU &XLGDGRGHOYHKÞFXOR
,QIRUPDFLäQJHQHUDO
,QPRYLOL]DFLäQGHOYHKÞFXOR
$FFHVRULRV\
PRGLILFDFLRQHVGHOYHKÞFXOR
,QPRYLOL]DFLäQGXUDQWHXQSHULRGR
GHWLHPSRSURORQJDGR
/HUHFRPHQGDPRVHOXVRGHUHSXHVಢ
WRV\DFFHVRULRVRULJLQDOHV\SLH]DV
KRPRORJDGDVSRUHOIDEULFDQWHHVSHಢ
FÞILFDPHQWHSDUDVXWLSRGHYHKÞFXOR
1RSRGHPRVHYDOXDUQLJDUDQWL]DUOD
ILDELOLGDGGHRWURVSURGXFWRVDXQTXH
FXHQWHQFRQXQDDXWRUL]DFLäQRILFLDOR
GHRWUDÞQGROH
1RVHGHEHQHIHFWXDUPRGLILFDFLRQHV
HQHOVLVWHPDHOÚFWULFRSRUHMHPSOR
FDPELRVHQODVXQLGDGHVHOHFWUäQLFDV
GHFRQWUROFKLSWXQLQJ
$WHQFLäQ
/RVIDOGRQHVJXDUGDEDUURVSRಢ
GUÞDQVXIULUGDâRVVLVHWUDQVSRUWD
HOYHKÞFXORHQXQWUHQRHQXQYHಢ
KÞFXORGHUHVFDWH
6LHOYHKÞFXORYDDHVWDULQPRYLOL]DGR
GXUDQWHYDULRVPHVHV
ထ /DYDU\HQFHUDUHOYHKÞFXOR
ထ &RPSUREDUODFHUDSURWHFWRUDHQ
HOFRPSDUWLPHQWRGHOPRWRU\ORV
EDMRV
ထ /LPSLDU\FRQVHUYDUODVMXQWDVGH
JRPD
ထ /OHQHHOGHSäVLWRGHFRPEXVWLEOH
KDVWDDUULED
ထ &DPELDUHODFHLWHGHOPRWRU
ထ 9DFLDUHOGHSäVLWRGHOOÞTXLGRGH
ODYDGR
ထ &RPSUREDUODSURWHFFLäQDQWLಢ
FRQJHODQWH\DQWLFRUURVLYDGHOUHಢ
IULJHUDQWH
ထ $MXVWDUODSUHVLäQGHORVQHXPÒಢ
WLFRVDOYDORUHVSHFLILFDGRSDUD
SOHQDFDUJD
ထ $SDUFDUHOYHKÞFXORHQXQOXJDU
VHFR\ELHQYHQWLODGR(QJUDQDU
ODSULPHUDRODPDUFKDDWUÒVR
ထ
ထ
ထ
SRQHUODSDODQFDVHOHFWRUDHQ3
3
&DO]DUHOYHKÞFXORSDUDHYLWDUTXH
UXHGH
1RDFFLRQDUHOIUHQRGHHVWDFLRಢ
QDPLHQWR
$EULUHOFDSäFHUUDUWRGDVODV
SXHUWDV\EORTXHDUHOYHKÞFXOR
'HVHPERUQHHOSRORQHJDWLYRGH
ODEDWHUÞDGHOYHKÞFXOR7HQJDHQ
FXHQWDORVVLVWHPDVTXHQRIXQಢ
FLRQDUÒQFRPRHOVLVWHPDGH
DODUPDDQWLUURER
3XHVWDHQVHUYLFLRGHQXHYR
3DUDYROYHUDSRQHUHQVHUYLFLRHOYHಢ
KÞFXOR
ထ (PERUQDUHOSRORQHJDWLYRGHOD
EDWHUÞDGHOYHKÞFXOR$FWLYDUHO
FRQWUROHOHFWUäQLFRGHORVHOHYDಢ
OXQDVHOÚFWULFRV
ထ &RPSUREDUODSUHVLäQGHORVQHXಢ
PÒWLFRV
ထ 5HOOHQDUHOGHSäVLWRGHOOÞTXLGR
GHODYDGR
ထ &RPSUREDUHOQLYHOGHDFHLWHGHO
PRWRU
ထ
ထ
&XLGDGRGHOYHKÞFXOR
&RPSUREDUHOQLYHOGHOUHIULJHಢ
UDQWH
0RQWDUODSODFDGHPDWUÞFXODVL
IXHUDQHFHVDULR
&RPSUREDFLRQHVGHO
YHKÞFXOR
5HDOL]DFLäQGHWUDEDMRV
5HFRJLGDGHYHKÞFXORV
XVDGRV
'LVSRQHGHLQIRUPDFLäQVREUHFHQಢ
WURVGHUHFRJLGDGHYHKÞFXORVXVDGRV
\VREUHHOUHFLFODMHGHHVWRVYHKÞFXORV
HQQXHVWUDZHEGRQGHVHDXQUHTXLಢ
VLWROHJDO(OGHVJXDFHGHEHHQFDUಢ
JDUVHDXQDHPSUHVDGHUHFLFODMHDXಢ
WRUL]DGD
/RVYHKÞFXORVGHJDVGHEHQUHFLಢ
FODUVHHQXQFHQWURGHVHUYLFLRDXWRಢ
UL]DGRSDUDYHKÞFXORVGHJDV
3HOLJUR
(OVLVWHPDGHHQFHQGLGR\ORVIDಢ
URVGH[HQäQXWLOL]DQXQDWHQVLäQ
PX\DOWD1RWRTXHVXVFRPSRಢ
QHQWHV
&DSä
$SHUWXUD
$GYHUWHQFLD
/DVFRPSUREDFLRQHVHQHOFRPಢ
SDUWLPLHQWRGHOPRWRUGHEHQHIHFಢ
WXDUVHFRQHOHQFHQGLGRGHVFRಢ
QHFWDGR
(OYHQWLODGRUGHUHIULJHUDFLäQ
SXHGHIXQFLRQDUDXQTXHHOHQFHQಢ
GLGRHVWÚGHVFRQHFWDGR
7LUHGHODSDODQFDGHGHVEORTXHR\
GHYXÚOYDODDVXSRVLFLäQRULJLQDO
&XLGDGRGHOYHKÞFXOR
&LHUUH
%DMHHOFDSä\GÚMHOREDMDUHQODOHQಢ
JíHWDGHVGHXQDDOWXUDEDMD
FP&RPSUXHEHTXHHOFDSä
TXHGHHQFODYDGR
([WUDLJDODYDULOODGHPHGLFLäQOÞPಢ
SLHODHLQVÚUWHODKDVWDHOWRSHGHO
PDQJRYXHOYDDH[WUDHUOD\FRPಢ
SUXHEHHOQLYHOGHDFHLWHGHOPRWRU
,QVHUWHODYDULOODGHPHGLFLäQKDVWDHO
WRSHGHOPDQJR\JÞUHODPHGLDYXHOWD
$WHQFLäQ
1RSUHVLRQHHOFDSäHQHOWULQTXHWH
SDUDHYLWDUDEROODGXUDV
0XHYDHOFLHUUHGHVHJXULGDGKDFLD
ORVODGRVKDFLDHOODWHUDOL]TXLHUGRGHO
YHKÞFXOR\DEUDHOFDSä
(OFDSäVHTXHGDDELHUWRDXWRPÒWLFDಢ
PHQWH
(QWUDGDGHDLUH
6LVHDEUHHOFDSäGXUDQWHXQDSDUDGD
DXWRPÒWLFD$XWRVWRSHOPRWRUYROಢ
YHUÒDDUUDQFDUVHDXWRPÒWLFDPHQWH
SRUPRWLYRVGHVHJXULGDG
6LVWHPDVWRSVWDUW
$FHLWHGHOPRWRU
&RPSUXHEHPDQXDOPHQWHHOQLYHOGH
DFHLWHGHOPRWRUFRQUHJXODULGDGSDUD
SUHYHQLUGDâRVHQHOPRWRU$VHJëಢ
UHVHGHTXHVHXVDHODFHLWHGHODHVಢ
SHFLILFDFLäQFRUUHFWD/ÞTXLGRV\OXಢ
EULFDQWHVUHFRPHQGDGRV
(OFRQVXPRGHDFHLWHPÒ[LPRGHO
PRWRUHVGHOSRUNP
/DFRPSUREDFLäQVHUHDOL]DFRQHOYHಢ
KÞFXORHQXQDVXSHUILFLHQLYHODGD(O
PRWRUGHEHHVWDUDWHPSHUDWXUDGH
IXQFLRQDPLHQWR\OOHYDUSDUDGRDOPHಢ
QRVFLQFRPLQXWRV
6HXWLOL]DQGLVWLQWRVWLSRVGHYDULOODGH
PHGLFLäQGHODFHLWHVHJëQHOWLSRGH
PRWRU
&XLGDGRGHOYHKÞFXOR
/HUHFRPHQGDPRVHOXVRGHOPLVPR
WLSRGHDFHLWHGHOPRWRUXWLOL]DGRHQHO
ëOWLPRFDPELR
$FHLWHGHOFDPELR
DXWRPÒWLFR
$WHQFLäQ
,QFOXVRXQDPÞQLPDFDQWLGDGGH
FRQWDPLQDFLäQSXHGHFDXVDUGDಢ
âRVHQHOFDPELRDXWRPÒWLFRHLPಢ
SHGLUVXFRUUHFWRIXQFLRQDPLHQWR
1RSHUPLWDTXHODVXFLHGDGHQWUH
HQFRQWDFWRFRQHOODGRGHOOÞTXLGR
GHOWDSäQGHOGHSäVLWRQLTXHHQWUH
HQHOGHSäVLWR
5HOOHQHDFHLWHGHPRWRUFXDQGRHOQLಢ
YHOKD\DGHVFHQGLGRKDVWDODPDUFD
0,1
(OQLYHOGHDFHLWHGHOPRWRUQRGHEH
H[FHGHUODPDUFDVXSHULRU0
0$;GHOD
YDULOODGHPHGLFLäQ
$WHQFLäQ
6LKD\XQH[FHVRGHDFHLWHGHOPRಢ
WRUGHEHYDFLDUVHRDVSLUDUVH
&DSDFLGDGHV&DOLGDG\YLVFRಢ
VLGDGGHODFHLWHGHOPRWRU
&RORTXHHOWDSäQFRUUHFWDPHQWH\
DSULÚWHOR
&XLGDGRGHOYHKÞFXOR
1RUPDOPHQWHQRKD\TXHFRPSUREDU
HOQLYHOGHODFHLWHGHOFDPELRDXWRPÒಢ
WLFR3DUDYHULILFDUHOQLYHOGHODFHLWH
UHFXUUDDODD\XGDGHXQWDOOHU
(QRWUDYHUVLäQODPDUFDGHODOÞQHD
HVWÒHQHOLQWHULRUGHODDEHUWXUDGH
OOHQDGR3DUDFRPSUREDUHOQLYHO
DEUDHOWDSäQ
5HIULJHUDQWHGHOPRWRU
&LUFXLWRGHUHIULJHUDFLäQDGLFLRQDO
SDUDHOPRWRUWXUER
(OGHSäVLWRGHUHIULJHUDQWHYDILMDGRD
ODFDUFDVDGHOILOWURGHDLUH
(OUHIULJHUDQWHRIUHFHSURWHFFLäQDQWLಢ
FRQJHODQWHKDVWDXQRV¡&(QORV
SDÞVHVQäUGLFRVFRQWHPSHUDWXUDV
PX\EDMDVHOUHIULJHUDQWHTXHVHLQಢ
FOX\HGHIÒEULFDSURWHJHFRQWUDOD
FRQJHODFLäQKDVWDXQRV¡&
$WHQFLäQ
6äORGHEHXWLOL]DUVHDQWLFRQJHಢ
ODQWHKRPRORJDGR
&RQHOVLVWHPDGHUHIULJHUDFLäQIUÞR
HOQLYHOGHOUHIULJHUDQWHGHEHHVWDUSRU
HQFLPDGHODPDUFDGHODOÞQHDGHOOHಢ
QDGR5HOOHQHVLHOQLYHOHVPÒVEDMR
1LYHOGHUHIULJHUDQWH
$WHQFLäQ
8QQLYHOGHUHIULJHUDQWHGHPDಢ
VLDGREDMRSXHGHRFDVLRQDUGDâRV
HQHOPRWRU
&RQHOVLVWHPDGHUHIULJHUDFLäQIUÞR
HOQLYHOGHOUHIULJHUDQWHGHEHHVWDUSRU
HQFLPDGHODPDUFDGHODOÞQHDGHOOHಢ
QDGR5HOOHQHVLHOQLYHOHVPÒVEDMR
&XLGDGRGHOYHKÞFXOR
,QGLFDFLRQHVJHQHUDOHV
$GYHUWHQFLD
'HMHTXHVHHQIUÞHHOPRWRUDQWHV
GHDEULUHOWDSäQ$EUDHOWDSäQ
FXLGDGRVDPHQWHSDUDTXHHOVLVಢ
WHPDVHGHVSUHVXULFHOHQWDPHQWH
LPSHGLUVXFRUUHFWRIXQFLRQDಢ
PLHQWR1RSHUPLWDTXHODVXFLHಢ
GDGHQWUHHQFRQWDFWRFRQHOODGR
GHOOÞTXLGRGHOWDSRQGHOGHSäVLWR
RODYDULOODQLTXHHQWUHHQHOGHಢ
SäVLWR
3DUDUHOOHQDUXWLOLFHXQDPH]FOD
GHFRQFHQWUDFLäQGHUHIULJHUDQWH
PH]FODGRFRQDJXDGHOJULIROLPSLD6L
QRGLVSRQHGHFRQFHQWUDFLäQGHUHIULಢ
JHUDQWHXWLOLFHDJXDGHOJULIROLPSLD
&RORTXHHOWDSäQ\DSULÚWHORILUPHಢ
PHQWH+DJDFRPSUREDUODFRQFHQಢ
WUDFLäQGHUHIULJHUDQWH\VXEVDQDUOD
FDXVDGHODSÚUGLGDGHUHIULJHUDQWHHQ
XQWDOOHU
/ÞTXLGRGHODGLUHFFLäQ
DVLVWLGD
$WHQFLäQ
,QFOXVRXQDPÞQLPDFDQWLGDGGH
FRQWDPLQDFLäQSXHGHFDXVDUGDಢ
âRVHQHOVLVWHPDGHGLUHFFLäQH
/ÞTXLGRGHODYDGR
/OHQHHOGHSäVLWRFRQDJXDOLPSLD
PH]FODGDFRQXQDFDQWLGDGDGHಢ
FXDGDGHOÞTXLGRODYDSDUDEULVDVKRಢ
PRORJDGRTXHFRQWHQJDDQWLFRQJHಢ
ODQWH
1RUPDOPHQWHQRKD\TXHFRPSUREDU
HOQLYHOGHOOÞTXLGRGHODGLUHFFLäQ
DVLVWLGD6LGXUDQWHODGLUHFFLäQ
VXHQDDOJëQUXLGRLQXVXDORVLODGLಢ
UHFFLäQDVLVWLGDUHDFFLRQDGHPDQHUD
VRVSHFKRVDDFXGDDXQWDOOHU
&XLGDGRGHOYHKÞFXOR
$WHQFLäQ
6äORHOOÞTXLGRGHODYDGRFRQXQD
FRQFHQWUDFLäQVXILFLHQWHGHDQWLಢ
FRQJHODQWHRIUHFHSURWHFFLäQD
EDMDVWHPSHUDWXUDVRVLKD\XQD
FDÞGDEUXVFDGHODWHPSHUDWXUD
(OXVRGHOÞTXLGRGHODYDGRTXH
FRQWLHQHLVRSURSDQROSXHGHGDâDU
ODVOXFHVH[WHULRUHV
/ÞTXLGRGHIUHQRV
$GYHUWHQFLD
(OOÞTXLGRGHIUHQRVHVWä[LFR\FRಢ
UURVLYR(YLWHVXFRQWDFWRFRQORV
RMRVODSLHOODURSDRVXSHUILFLHV
SLQWDGDV
%DWHUÞDGHOYHKÞFXOR
/DEDWHUÞDGHOYHKÞFXORQRUHTXLHUH
PDQWHQLPLHQWRVLHPSUHTXHHOSHUILO
GHFRQGXFFLäQSHUPLWDTXHODEDWHUÞD
VHFDUJXHORVXILFLHQWH/DFRQGXFಢ
FLäQHQGLVWDQFLDVFRUWDV\ORVIUHಢ
FXHQWHVDUUDQTXHVGHOPRWRUSXHGHQ
GHVFDUJDUODEDWHUÞD(YLWHHOXVRGH
FRQVXPLGRUHVHOÚFWULFRVLQQHFHVDಢ
ULRV
)UHQRV
6LODVSDVWLOODVGHIUHQRKDQDOFDQಢ
]DGRVXJURVRUPÞQLPRVHHVFXFKDUÒ
XQFKLUULGRDOIUHQDU
6HSXHGHFRQWLQXDUFRQGXFLHQGR
SHURKDJDVXVWLWXLUODVSDVWLOODVGHIUHಢ
QRVORDQWHVSRVLEOH
8QDYH]PRQWDGDVODVSDVWLOODVGH
IUHQRQXHYDVQRIUHQHDIRQGRLQQHಢ
FHVDULDPHQWHGXUDQWHORVSULPHURV
YLDMHV
(OQLYHOGHOOÞTXLGRGHIUHQRVGHEHHVಢ
WDUHQWUHODVPDUFDV0
0,1\0
0$;
6LHOQLYHOGHOÞTXLGRVHHQFXHQWUDSRU
GHEDMRGHODPDUFD0
0,1UHFXUUDDOD
D\XGDGHXQWDOOHU
/ÞTXLGRGHIUHQRV\HPEUDJXH
/DVSLODVQRGHEHQDUURMDUVHDODEDಢ
VXUDGRPÚVWLFD'HEHQGHVHFKDUVH
HQXQSXQWRGHUHFRJLGDDXWRUL]DGR
SDUDVXUHFLFODMH
/DLQPRYLOL]DFLäQGHOYHKÞFXORGXಢ
UDQWHPÒVGHFXDWURVHPDQDVSXHGH
RFDVLRQDUODGHVFDUJDGHODEDWHUÞD
GHOYHKÞFXOR'HVHPERUQHHOSRORQHಢ
JDWLYRGHODEDWHUÞDGHOYHKÞFXOR
6äORVHGHEHHPERUQDURGHVHPERUಢ
QDUODEDWHUÞDFRQHOHQFHQGLGRGHVಢ
FRQHFWDGR
&XLGDGRGHOYHKÞFXOR
3URWHFFLäQFRQWUDGHVFDUJDGHODEDಢ
WHUÞD
6XVWLWXFLäQGHODEDWHUÞDGHO
YHKÞFXOR
1RWD
&XDOTXLHUGHVYLDFLäQGHODVSUHVHQಢ
WHVLQVWUXFFLRQHVSXHGHRFDVLRQDU
XQDGHVDFWLYDFLäQWHPSRUDOGHOVLVಢ
WHPDVWRSVWDUW
$OVXVWLWXLUODEDWHUÞDDVHJëUHVHGH
TXHQRKD\DRULILFLRVGHYHQWLODFLäQ
DELHUWRVFHUFDGHOERUQHSRVLWLYR6L
KD\XQRULILFLRGHYHQWLODFLäQDELHUWR
HQHVWD]RQDGHEHFHUUDUVHFRQXQ
WDSäQFLHJR\DEULUVHODYHQWLODFLäQ
FHUFDGHOERUQHQHJDWLYR
6RODPHQWHGHEHQXWLOL]DUVHEDWHUÞDV
GHYHKÞFXORTXHSHUPLWDQODILMDFLäQ
GHODFDMDGHIXVLEOHVHQFLPDGHOD
EDWHUÞDGHOYHKÞFXOR
(QYHKÞFXORVFRQXQDEDWHUÞD$*0
$EVRUSWLYH*ODVV0DWRPDOODGHILಢ
EUDGHYLGULRDEVRUEHQWHDVHJëUHVH
GHTXHODEDWHUÞDVHVXVWLWX\HSRURWUD
EDWHUÞD$*0
/DVEDWHUÞDV$*0VHSXHGHQLGHQWLಢ
ILFDUSRUODHWLTXHWDHQODEDWHUÞD/H
UHFRPHQGDPRVHOXVRGHXQDEDWHUÞD
RULJLQDO2SHO
1RWD
(OXVRGHXQDEDWHUÞDGHYHKÞFXOR
$*0GLVWLQWDGHODEDWHUÞDGHOYHಢ
KÞFXORRULJLQDO2SHOSXHGHPHQRVಢ
FDEDUHOUHQGLPLHQWR
/HUHFRPHQGDPRVTXHDFXGDDXQ
WDOOHUSDUDVXVWLWXLUODEDWHUÞDGHOYHಢ
KÞFXOR
6LVWHPDVWRSVWDUW
&DUJDGHODEDWHUÞDGHOYHKÞFXOR
$GYHUWHQFLD
/DEDWHUÞDGHOYHKÞFXORHVWÒFXELHUWD
5HWLUHODWDSDSDUDVXVWLWXLUODEDWHUÞD
(OHYHODWDSDHQODSDUWHWUDVHUD\
VXHOWHSRUODSDUWHGHODQWHUD
(QYHKÞFXORVFRQVLVWHPDVWRS
VWDUWDVHJëUHVHGHTXHHOSRWHQಢ
FLDOGHFDUJDQRVXSHUHORV
9VLXWLOL]DXQFDUJDGRUGHEDಢ
WHUÞDV(QFDVRFRQWUDULRODEDWHಢ
UÞDSRGUÞDVXIULUGDâRV
$UUDQTXHFRQFDEOHV
&XLGDGRGHOYHKÞFXOR
(WLTXHWDGHDGYHUWHQFLD
ထ
ထ
9HDHOPDQXDOGHXVXDULRSDUD
REWHQHUPÒVLQIRUPDFLäQ
3XHGHKDEHUJDVH[SORVLYRFHUFD
GHODEDWHUÞDGHOYHKÞFXOR
6XVWLWXFLäQGHODVHVFRELOODV
(VFRELOODVGHOOLPSLDSDUDEULVDV
3XUJDGHOVLVWHPDGH
FRPEXVWLEOHGLÚVHO
6LJQLILFDGRGHORVVÞPERORV
ထ 1RDFHUFDUDFKLVSDVOODPDVVLQ
SURWHFFLäQQLKXPR
ထ 3URWHJHUVLHPSUHORVRMRV/RV
JDVHVH[SORVLYRVSXHGHQSURYRಢ
FDUOHVLRQHVHLQFOXVRFHJXHUD
ထ 0DQWHQJDODEDWHUÞDGHOYHKÞFXOR
OHMRVGHODOFDQFHGHORVQLâRV
ထ /DEDWHUÞDGHOYHKÞFXORFRQWLHQH
ÒFLGRVXOIëULFRTXHSXHGHSURGXಢ
FLUFHJXHUDROHVLRQHVJUDYHVSRU
TXHPDGXUDV
6LVHKDDJRWDGRHOGHSäVLWRKD\TXH
SXUJDUHOVLVWHPDGHFRPEXVWLEOHGLÚಢ
VHO&RQHFWHHOHQFHQGLGRWUHVYHFHV
GXUDQWHXQRVVHJXQGRVFDGDYH]
/XHJRLQWHQWHDUUDQFDUHOPRWRUGXಢ
UDQWHXQPÒ[LPRGHVHJXQGRV
5HSLWDHVWHSURFHVRGHVSXÚVGHHVಢ
SHUDUXQPÞQLPRGHVHJXQGRV6LQR
FRQVLJXHDUUDQFDUHOPRWRUUHFXUUDD
ODD\XGDGHXQWDOOHU
/HYDQWHHOEUD]RGHOOLPSLDSDUDEULVDV
\DEUDHOFOLSGHVXMHFLäQ
&XLGDGRGHOYHKÞFXOR
(VFRELOODGHODOXQHWDWUDVHUD
'HVHQFODYHODHVFRELOOD\H[WUÒLJDOD
$FRSOHODHVFRELOODOLJHUDPHQWHLQFOLಢ
QDGDUHVSHFWRDOEUD]RGHOOLPSLDSDಢ
UDEULVDV\HPSëMHODKDVWDTXHHQಢ
FDMH
%DMHHOEUD]RGHOOLPSLDSDUDEULVDV
FXLGDGRVDPHQWH
/HYDQWHHOEUD]RGHOOLPSLDSDUDEULಢ
VDV3UHVLRQHORVGRVSHVWLOORVTXH
KD\HQHOEUD]RGHVHQFODYHODHVFRಢ
ELOOD\H[WUÒLJDOD
$FRSOHODHVFRELOODOLJHUDPHQWHLQFOLಢ
QDGDUHVSHFWRDOEUD]RGHOOLPSLDSDಢ
UDEULVDV\HPSëMHODKDVWDTXHHQಢ
FDMH
%DMHHOEUD]RGHOOLPSLDSDUDEULVDV
FXLGDGRVDPHQWH
6XVWLWXFLäQGH
ERPELOODV
'HVFRQHFWHHOHQFHQGLGR\HOLQWHUಢ
UXSWRUFRUUHVSRQGLHQWHRFLHUUHODV
SXHUWDV
8QDERPELOODQXHYDVRORVHGHEHVXಢ
MHWDUSRUODEDVH1RWRTXHHOFULVWDO
GHODERPELOODFRQODVPDQRVGHVQXಢ
GDV
8WLOLFHVäORHOPLVPRWLSRGHERPELOOD
SDUDODVXVWLWXFLäQ
6XVWLWX\DODVERPELOODVGHORVIDURV
GHVGHHOFRPSDUWLPHQWRGHOPRWRU
&RPSUREDFLäQGHERPELOODV
'HVSXÚVGHXQDVXVWLWXFLäQGHERPಢ
ELOODVFRQHFWHHOHQFHQGLGROXHJR
HQFLHQGD\FRPSUXHEHODVOXFHV
&XLGDGRGHOYHKÞFXOR
)DURVKDOäJHQRV
)DURVELKDOäJHQRV
)DURVELKDOäJHQRVFRQXQDERPಢ
ELOODSDUDODVOXFHVGHFUXFH\GHFDಢ
UUHWHUD
/X]ODWHUDOOX]GHFLUFXODFLäQ
GLXUQD
,QWHUPLWHQWHGHODQWHUR
(QHOODGRL]TXLHUGRGHOYHKÞFXORWLUH
GHOFRQGXFWRGHOOHQDGRGHOGHSäVLWR
GHOOÞTXLGRODYDSDUDEULVDV
*LUHODWDSDHQVHQWLGRDQWLKRUDULR
\GHVPäQWHOD
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULRSDUDGHVHQFODYDUOR
6DTXHHOSRUWDOÒPSDUDVGHOUHಢ
IOHFWRU
&XLGDGRGHOYHKÞFXOR
/X]ODWHUDOOX]GHFLUFXODFLäQ
GLXUQD
6HSDUHHOSRUWDOÒPSDUDVGHOFRಢ
QHFWRUFXUYDQGROLJHUDPHQWHOD
RUHMHWDGHILMDFLäQ
6XVWLWX\DODERPELOOD\FRQHFWH
FRQHOHQFKXIH
¾QVHUWHHOSRUWDOÒPSDUDVHQFODಢ
YDQGRODVGRVOHQJíHWDVHQHOUHಢ
IOHFWRU\JÞUHORHQVHQWLGRKRUDULR
SDUDILMDUOR
0RQWHODWDSD\JÞUHODHQVHQWLGR
KRUDULR
*LUHHOWDSäQKDFLDODL]TXLHUGD\
H[WUDLJDGHOUHIOHFWRU
3UHVLRQHODVOHQJíHWDVKHUPÚWLಢ
FDV\H[WUDLJDHOSRUWDOÒPSDUDV
GHODFDUFDVD
5HWLUHODERPELOODGHOFDVTXLOORWLಢ
UDQGRGHÚVWD
6XVWLWX\D\FRORTXHODQXHYD
ERPELOODHQHOFDVTXLOOR
,QVHUWHHOSRUWDOÒPSDUDVHQODFDUಢ
FDVD\DFRSOH
0RQWHODWDSD\JÞUHODHQVHQWLGR
KRUDULR
&XLGDGRGHOYHKÞFXOR
)DURVGH[HQäQ
/X]ODWHUDOOX]GHFLUFXODFLäQ
GLXUQDFRQ/('
3HOLJUR
(QRWUDYHUVLäQODVOXFHVODWHUDOHV\
ODVOXFHVGHFLUFXODFLäQGLXUQDHVWÒQ
GLVHâDGDVFRPR/('(QFDVRGH
DYHUÞDOOHYHDXQWDOOHUSDUDTXHOH
FDPELHQORV/('
,QWHUPLWHQWHGHODQWHUR
3UHVLRQHOLJHUDPHQWHODERPELOOD
HQHOFDVTXLOORJÞUHODHQVHQWLGR
DQWLKRUDULR\VÒTXHOD
6XVWLWX\D\FRORTXHODQXHYD
ERPELOODHQHOFDVTXLOORJLUÒQGR
KDFLDODGHUHFKD
,QVHUWHHOSRUWDOÒPSDUDVHQHOUHಢ
IOHFWRU\JÞUHORHQVHQWLGRKRUDULR
SDUDHQFODYDUOR
*LUHHOFDVTXLOORGHODERPELOODHQ
VHQWLGRDQWLKRUDULRSDUDGHVHQಢ
FODYDUOR6DTXHHOSRUWDOÒPSDUDV
GHODFDUFDVD
(OVLVWHPDGHIDURVDGDSWDWLYRV
XWLOL]DIDURVGH[HQäQ
/RVIDURVGH[HQäQIXQFLRQDQFRQ
XQDWHQVLäQHOÚFWULFDPX\DOWD1R
WRTXHVXVFRPSRQHQWHV+DJD
FDPELDUODVOÒPSDUDVHQXQWDOOHU
/DVERPELOODVGHORVLQWHUPLWHQWHV
GHODQWHURV\ODLOXPLQDFLäQGHJLUR
SXHGHQFDPELDUVH
/DVOXFHVODWHUDOHVOXFHVGHFLUFXODಢ
FLäQGLXUQDHVWÒGLVHâDGDVFRPRGLRಢ
GRVOXPLQRVRV/('\QRVHSXHGHQ
UHHPSOD]DU
&XLGDGRGHOYHKÞFXOR
,OXPLQDFLäQHVWÒWLFDHQFXUYDV
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULRSDUDGHVHQFODYDUOR
6DTXHHOSRUWDOÒPSDUDVGHOUHಢ
IOHFWRU
*LUHODWDSDHQVHQWLGRDQWLKRUDULR
\GHVPäQWHOD
,QWHUPLWHQWHVGHODQWHURV
*LUHODWDSDHQVHQWLGRDQWLKRUDULR
\GHVPäQWHOD
6HSDUHHOFDVTXLOORGHOFRQHFWRU
GHVEORTXHDQGR\WLUDQGRGHHVWH
6XVWLWX\DODERPELOOD\FRQHFWHHO
SRUWDOÒPSDUDVFRQHOFRQHFWRUGHO
HQFKXIH
¾QVHUWHHOSRUWDOÒPSDUDVHQFODಢ
YDQGRODVGRVOHQJíHWDVHQHOUHಢ
IOHFWRU\JÞUHORHQVHQWLGRKRUDULR
SDUDILMDUOR
0RQWHODWDSD\JÞUHODHQVHQWLGR
KRUDULR
&XLGDGRGHOYHKÞFXOR
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULRSDUDGHVHQFODYDUOR
6DTXHHOSRUWDOÒPSDUDVGHOUHಢ
IOHFWRU
/X]ODWHUDOOX]GHFLUFXODFLäQ
GLXUQD
/DVOXFHVODWHUDOHV\ODVOXFHVGHFLUಢ
FXODFLäQGLXUQDHVWÒQGLVHâDGDV
FRPR/('(QFDVRGHDYHUÞDOOHYHD
XQWDOOHUSDUDTXHOHFDPELHQORV/('
/XFHVDQWLQLHEOD
6HSXHGHDFFHGHUDODVERPELOODV
GHVGHORVEDMRVGHOYHKÞFXOR
6HSDUHHOSRUWDOÒPSDUDVGHOFRಢ
QHFWRUGHVEORTXHDQGR\WLUDQGR
GHHVWH
6XVWLWX\DODERPELOOD\FRQHFWHHO
SRUWDOÒPSDUDVFRQHOHQFKXIH
¾QVHUWHHOSRUWDOÒPSDUDVHQFODಢ
YDQGRODVGRVOHQJíHWDVHQHOUHಢ
IOHFWRU\JÞUHORHQVHQWLGRKRUDULR
SDUDILMDUOR
6HSDUHHOFDVTXLOORGHOFRQHFWRU
SUHVLRQDQGRHOVDOLHQWHGHILMDಢ
FLäQ
([WUDLJD\VXVWLWX\DHOFDVTXLOOR
FRQODERPELOOD\ILMHHOFRQHFWRU
GHOHQFKXIH
,QWURGX]FDHOFDVTXLOORHQHOUHಢ
IOHFWRU\JÞUHORKDFLDODGHUHFKD
SDUDHQJDQFKDUORFRUUHFWDPHQWH
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR\VÒTXHORGHOUHIOHFWRU
&XLGDGRGHOYHKÞFXOR
/XFHVWUDVHUDV
6HGÒQGHSXHUWDVSXHUWDV
'HVPRQWHODWDSDGHVGHHOLQWHULRU
GHOFRPSDUWLPHQWRGHFDUJD
'HVGHHOLQWHULRUGHVHQURVTXH
ODVWUHVWXHUFDVGHSOÒVWLFRFRQOD
PDQR
([WUDLJDFXLGDGRVDPHQWHHO
JUXSRäSWLFRWUDVHURGHORVDORMDಢ
PLHQWRV\GHVPäQWHOR
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR\GHVPäQWHOR6XVWLಢ
WX\DODERPELOODH[WUD\HQGRRJLಢ
UDQGR
,QWHUPLWHQWH
3LORWRDQWLQLHEODWUDVHUR
VRODಢ
PHQWHHQHOODGRGHOFRQGXFWRU
/X]GHPDUFKDDWUÒV
/DVOXFHVGHOSRUWäQWUDVHUR\IUHಢ
QRVHVWÒQGLVHâDGDVFRPR/('
(QFDVRGHDYHUÞDOOHYHDOWDOOHU
SDUDTXHOHVXVWLWX\DQORV/('
,QVHUWHHOFDVTXLOORHQHOFRQMXQWR
GHODVOXFHVWUDVHUDV\JLUHHQ
VHQWLGRGHODVDJXMDVGHOUHORM
&XLGDGRGHOYHKÞFXOR
0RQWHHOJUXSRäSWLFRFRQORVSDಢ
VDGRUHVGHVXMHFLäQHQORVKXHಢ
FRVGHODFDUURFHUÞDGHYHKÞFXOR\
DSULHWHODVWXHUFDVGHILMDFLäQGH
SOÒVWLFRGHVGHHOLQWHULRUGHOFRPಢ
SDUWLPHQWRGHFDUJD&LHUUHOD
WDSD
6SRUWV7RXUHU&RXQWU\7RXUHU
'HVHQURVTXHODVWUHVWXHUFDVGH
SOÒVWLFRFRQODPDQR
'HVEORTXHH\DEUDODWDSDHQHO
SRUWäQWUDVHUR
([WUDLJDFXLGDGRVDPHQWHHO
JUXSRäSWLFRWUDVHURGHORVDORMDಢ
PLHQWRV\GHVPäQWHOR
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR\GHVPäQWHOR6XVWLಢ
WX\DODERPELOOD
/X]GHPDUFKDDWUÒV
,QWHUPLWHQWH
/DVOXFHVGHOSRUWäQWUDVHUR\IUHಢ
QRV\HOIDURDQWLQLHEODWUDVHURHVಢ
WÒQGLVHâDGDVFRPR/('(Q
FDVRGHDYHUÞDOOHYHDOWDOOHUSDUD
TXHOHVXVWLWX\DQORV/('
,QVHUWHHOFDVTXLOORHQHOFRQMXQWR
GHODVOXFHVWUDVHUDV\JLUHHQ
VHQWLGRGHODVDJXMDVGHOUHORM
&XLGDGRGHOYHKÞFXOR
0RQWHHOJUXSRäSWLFRFRQORVSDಢ
VDGRUHVGHVXMHFLäQHQORVKXHಢ
FRVGHOSRUWäQWUDVHUR\DSULHWHODV
WXHUFDVGHILMDFLäQGHSOÒVWLFR
GHVGHHOLQWHULRUGHOSRUWäQWUDಢ
VHUR&LHUUHODWDSD
/XFHVWUDVHUDVDGLFLRQDOHVHQHO
PDUFRGHOSRUWäQWUDVHUR
$EUDHOSRUWäQWUDVHUR
([WUDLJDODFDMDGHODOX]GHOLQWHಢ
ULRUGHOSDQHOGHUHYHVWLPLHQWRODಢ
WHUDO
'HVEORTXHH\GHVPRQWHODWDSD
GHOSDQHOGHUHYHVWLPLHQWRODWHUDO
*LUHODWXHUFDGHSOÒVWLFRHQVHQಢ
WLGRDQWLKRUDULR\GHVPäQWHODGHO
SRUWDOÒPSDUDV
3UHVLRQHOLJHUDPHQWHODERPELOOD
HQHOFDVTXLOORJÞUHODKDFLDODL]ಢ
TXLHUGDVÒTXHOD\VXVWLWX\DOD
ERPELOOD,QVHUWHODWXHUFDGH
SOÒVWLFRHQHOSRUWDOÒPSDUDVJLಢ
UÒQGRODHQVHQWLGRKRUDULR
/X]WUDVHUD
,QWHUPLWHQWH
,QVHUWHHOSRUWDOÒPSDUDVHQHO
PDUFRGHOSRUWäQWUDVHUR&LHUUHOD
WDSDHQHOSDQHOGHUHYHVWLPLHQWR
ODWHUDO
&XLGDGRGHOYHKÞFXOR
,QWHUPLWHQWHVODWHUDOHV
,QVHUWHHOSRUWDOÒPSDUDV\JÞUHOR
HQVHQWLGRKRUDULR
,QVHUWHHOH[WUHPRL]TXLHUGRGHOD
OÒPSDUDGHVOÞFHORDODL]TXLHUGDH
LQVHUWHHOH[WUHPRGHUHFKR
3DUDVXVWLWXLUODERPELOODGHVPRQWH
HOJUXSRäSWLFR
/X]GHODPDWUÞFXOD
*LUHHOSRUWDOÒPSDUDVHQVHQWLGR
DQWLKRUDULR\GHVPäQWHOR
'HVOLFHODOÒPSDUDKDFLDODL]ಢ
TXLHUGD\VÒTXHODSRUVXH[WUHPR
GHUHFKR
,QVHUWHXQGHVWRUQLOODGRUHQSRVLಢ
FLäQYHUWLFDOHQHOSRUWDOÒPSDUDV
SUHVLRQHKDFLDXQODGR\GHVEORಢ
TXHHHOPXHOOH
([WUDLJDODERPELOODGHOSRUWDOÒPಢ
SDUDV\VXVWLWë\DOD
&XLGDGRGHOYHKÞFXOR
([WUDLJDODERPELOODGHOSRUWDOÒPಢ
SDUDV\VXVWLWë\DOD
,QVHUWHHOSRUWDOÒPSDUDVHQHO
JUXSRäSWLFR\JÞUHORHQVHQWLGR
KRUDULR
,QVHUWHODOÒPSDUDHQHOSDUDFKRಢ
TXHV\GHMHTXHHQFODYH
([WUDLJDODOÒPSDUDKDFLHQGRSDಢ
ODQFDFRQXQGHVWRUQLOODGRU
,OXPLQDFLäQLQWHULRU
/X]GHFRUWHVÞDOXFHVGHOHFWXUD
([WUDLJDODOÒPSDUDKDFLDDEDMR
FRQFXLGDGRGHQRWLUDUGHOFDEOH
+DJDFDPELDUODVERPELOODVHQXQWDಢ
OOHU
/X]GHOFRPSDUWLPHQWRGHFDUJD
3UHVLRQHOLJHUDPHQWHODERPELOOD
KDFLDHOFOLSHOÒVWLFR\VÒTXHOD
,QVHUWHODERPELOODQXHYD
0RQWHODOÒPSDUD
,OXPLQDFLäQGHOWDEOHURGH
LQVWUXPHQWRV
+DJDFDPELDUODVERPELOODVHQXQWDಢ
OOHU
'HVPRQWHHOSRUWDOÒPSDUDVGHO
JUXSRäSWLFRJLUÒQGRORHQVHQWLGR
DQWLKRUDULR
&XLGDGRGHOYHKÞFXOR
6LVWHPDHOÚFWULFR
)XVLEOHV
(OIXVLEOHGHUHSXHVWRGHEHWHQHUOD
PLVPDHVSHFLILFDFLäQTXHHOIXVLEOH
GHIHFWXRVR
3XHGHKDEHUKDVWDWUHVFDMDVGHIXಢ
VLEOHVHQHOYHKÞFXOR
ထ HQODSDUWHGHODQWHUDL]TXLHUGD
GHOFRPSDUWLPHQWRGHOPRWRU
ထ HQHOODGRL]TXLHUGRGHOWDEOHURGH
LQVWUXPHQWRV
ထ GHWUÒVGHXQDWDSDHQHOODGRL]ಢ
TXLHUGRGHOFRPSDUWLPHQWRGH
FDUJD
(QIXQFLäQGHOHTXLSDPLHQWRGHOYHಢ
KÞFXORODFRQILJXUDFLäQGHORVIXVLಢ
EOHVHQODFDMDGHIXVLEOHVHVGLIHಢ
UHQWHORTXHVHLQGLFDPHGLDQWHWLSR
$\WLSR%HQODVWDEODV
7LSR$VLJQLILFDODYHUVLäQGHSXHUಢ
WDV\ODYHUVLäQVHGÒQGHSXHUWDV
DVÞFRPR6SRUWV7RXUHUR&RXQWU\
7RXUHUFRQSRUWäQWUDVHURHOÚFWULFRR
JDQFKRSDUDUHPROTXHRWRPDVGH
FRUULHQWHWUDVHUDV
(OWLSR%VLJQLILFD6SRUWV7RXUHUR
&RXQWU\7RXUHUVLQSRUWäQWUDVHUR
HOÚFWULFRVLQJDQFKRSDUDUHPROTXH\
VLQWRPDVGHFRUULHQWHWUDVHUDV
$QWHVGHVXVWLWXLUXQIXVLEOHGHVFRಢ
QHFWHHOLQWHUUXSWRUFRUUHVSRQGLHQWH\
HOHQFHQGLGR
+D\WUHVWLSRVGLIHUHQWHVGHIXVLEOHV
HQHOYHKÞFXOR
'HSHQGLHQGRGHOWLSRGHIXVLEOHXQ
IXVLEOHGHIHFWXRVRSXHGHUHFRQRಢ
FHUVHSRUVXILODPHQWRIXQGLGR1R
VXVWLWX\DHOIXVLEOHKDVWDTXHVHVXEಢ
VDQHODFDXVDGHODDYHUÞD
$OJXQDVIXQFLRQHVSXHGHQHVWDUSURಢ
WHJLGDVSRUYDULRVIXVLEOHV
3XHGHKDEHUIXVLEOHVLQVHUWDGRVVLQ
TXHODIXQFLäQHVWÚGLVSRQLEOHHQHO
YHKÞFXOR
([WUDFWRUGHIXVLEOHV
3XHGHKDEHUXQH[WUDFWRUGHIXVLEOHV
HQODFDMDGHIXVLEOHVGHOFRPSDUWLಢ
PHQWRGHOPRWRU
&XLGDGRGHOYHKÞFXOR
&DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHOPRWRU
/DFDMDGHIXVLEOHVHVWÒHQODSDUWH
GHODQWHUDL]TXLHUGDGHOFRPSDUWLಢ
PHQWRGHOPRWRU
'HVHQFODYHODWDSDOHYÒQWHOD\UHWÞಢ
UHOD
&RORTXHHOH[WUDFWRUGHIXVLEOHVHQOD
SDUWHVXSHULRURODWHUDOGHOIXVLEOHFRಢ
UUHVSRQGLHQWH\H[WUÒLJDOR
&XLGDGRGHOYHKÞFXOR
1« &LUFXLWR
1« &LUFXLWR
1« &LUFXLWR
0äGXORGHFRQWUROGHOFDPELR
/XQHWDWÚUPLFDWUDVHUD
0äGXORGHFRQWUROGHOPRWRU
ಥ
%RPEDGHYDFÞR&DXGDOÞPHWUR
GHDLUH6HQVRUGHDJXDHQHO
FRPEXVWLEOH7UDQVIRUPDGRUGH
&&
ಥ
6LVWHPDGHDLUHDFRQGLFLRQDGR
(QFHQGLGR0äGXORGHFRQWURO
GHOFDPELR0äGXORGHFRQWURO
GHOPRWRU
/XFHVWUDVHUDVDGLFLRQDOHV
WLSR%
/LPSLDSDUDEULVDV
ಥ
,Q\HFFLäQGHFRPEXVWLEOH
6LVWHPDGHHQFHQGLGR
,Q\HFFLäQGHFRPEXVWLEOH
6LVWHPDGHHQFHQGLGR
0äGXORGHFRQWUROGHOPRWRU
6LVWHPDGHIDURVDGDSWDWLYRV
6LVWHPDGHIDURVDGDSWDWLYRV
%RPEDGHFRPEXVWLEOH
(OHYDOXQDVHOÚFWULFRVWUDVHURV
$%6
'LUHFFLäQGHHVIXHU]RYDULDEOH
(OHYDOXQDVHOÚFWULFRVGHODQಢ
WHURV
$VLHQWRHOÚFWULFRL]TXLHUGR
$VLHQWRHOÚFWULFRGHUHFKR
0äGXORGHFRQWUROGHODFDUURಢ
FHUÞD
$VLHQWRVGHODQWHURVFDOHIDFಢ
WDGRV
7HFKRVRODUWLSR$
%ORTXHRGHOSRUWäQWUDVHUR
WLSR%
6LVWHPDGHLQIRHQWUHWHQLPLHQWR
WLSR$
%ORTXHRGHOSRUWäQWUDVHUR
WLSR%
0RWRUGHDUUDQTXH
7RPDVGHFRUULHQWHWLSR$
/XFHVWUDVHUDVDGLFLRQDOHV
WLSR%
6HQVRUGHJDVHVGHFRPEXVWLäQ
$%6
,OXPLQDFLäQ
/X]GHFDUUHWHUDL]TXLHUGD
)UHQRGHHVWDFLRQDPLHQWRHOÚFಢ
WULFR
ಥ
6RQGDODPEGD
/LPSLDOXQHWDWUDVHUR
ಥ
/X]GHFDUUHWHUDGHUHFKD
&XLGDGRGHOYHKÞFXOR
1« &LUFXLWR
1« &LUFXLWR
1« &LUFXLWR
ಥ
(OHYDOXQDVHOÚFWULFRV3OHJDGR
GHORVUHWURYLVRUHV
ಥ
%RPEDGHYDFÞR
9HQWLODGRUGHOUDGLDGRU
%DWHUÞDGHOYHKÞFXOR7UDQVIRUಢ
PDGRUGH&&VRORHQYHKÞFXORV
FRQVLVWHPDVWRSVWDUW
/DYDIDURV
9HQWLODGRUGHOUDGLDGRU
7HUPLQDO5HOÚSULQFLSDO
6RQGDODPEGD
/DYDSDUDEULVDV
ಥ
ಥ
&DOHIDFFLäQGHFRPEXVWLEOH
GLÚVHO6LVWHPDGHFRQWUROGH
HPLVLRQHV
5HWURYLVRUHVWÚUPLFRV
5HWURYLVRUHVWÚUPLFRV
/X]GHFUXFHGHUHFKD
9RODQWHWÚUPLFRVRODPHQWH
YHKÞFXORVVLQFDMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHFDUJD
/X]GHFUXFHL]TXLHUGD
6HQVRUGHOXQHWDWUDVHUD
%RFLQD
6LVWHPDGHIDURVDGDSWDWLYRV
(OHQFHQGLGR
%RPEDDX[LOLDUVäORHQYHKÞಢ
FXORVFRQVLVWHPDVWRSVWDUW
/XFHVDQWLQLHEOD
(QFHQGLGR$VLHQWRVGHODQWHURV
YHQWLODGRV
(OHQFHQGLGR
6LVWHPDODYDOXQHWD
0äGXORGHFRQWUROGHOVLVWHPD
GHFRPEXVWLEOH
6HQVRUGHODEDWHUÞDGHOYHKÞFXOR
6HQVRUGHOOXYLD
6HQVRUGHODEDWHUÞDGHOYHKÞFXOR
'HVSXÚVGHFDPELDUORVIXVLEOHVGHಢ
IHFWXRVRVFLHUUHODWDSDGHODFDMDGH
IXVLEOHV\DSULHWHKDVWDTXHVHHQಢ
FODYH
6LODWDSDGHODFDMDGHIXVLEOHVQR
HVWÒFHUUDGDFRUUHFWDPHQWHSXHGHQ
SURGXFLUVHIDOORV
&XLGDGRGHOYHKÞFXOR
&DMDGHIXVLEOHVGHOWDEOHUR
GHLQVWUXPHQWRV
(QORVYHKÞFXORVFRQYRODQWHDODL]ಢ
TXLHUGDODFDMDGHIXVLEOHVHVWÒGHಢ
WUÒVGHOFRPSDUWLPHQWRSRUWDREMHWRV
HQHOWDEOHURGHLQVWUXPHQWRV
$EUDHOFRPSDUWLPHQWRFRPSULPDODV
OHQJíHWDVGHEORTXHRDEDWDHOFRPಢ
SDUWLPHQWR\GHVPäQWHOR
1« &LUFXLWR
(QORVYHKÞFXORVFRQYRODQWHDODGHಢ
UHFKDODFDMDGHIXVLEOHVHVWÒVLWXDGD
GHWUÒVGHXQDWDSDHQODJXDQWHUD
$EUDODJXDQWHUD\GHVPRQWHODWDSD
6LVWHPDGHLQIRHQWUHWHQLPLHQWR
3DQWDOODGHLQIRUPDFLäQ
6LVWHPDGHDODUPDDQWLUURER
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
6LVWHPDGHLQIRHQWUHWHQLPLHQWR
3DQWDOODGHLQIRUPDFLäQ
6LVWHPDGHLQIRHQWUHWHQLPLHQWR
3DQWDOODGHLQIRUPDFLäQ$VLVಢ
WHQWHGHOX]GHFDUUHWHUD
(QFHQGHGRUGHFLJDUULOORV
7RPDGHFRUULHQWH
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
9HQWLODGRUGHOKDELWÒFXOR
&XLGDGRGHOYHKÞFXOR
1« &LUFXLWR
ಥ
ಥ
&RQHFWRUGHGLDJQRVLV
$LUEDJ
/RVDVLHQWRVHOÚFWULFRVQëP\
WLHQHQXQDSURWHFFLäQFRQWUDVREUHಢ
FDUJD(OFLUFXLWRVHFHUUDUÒGHQXHYR
FXDQGRVHKD\DQHQIULDGR
&DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHFDUJD
&LHUUHFHQWUDOL]DGR3RUWäQ
WUDVHUR
6LVWHPDGHDLUHDFRQGLFLRQDGR
)XVLEOHGHOKDELWÒFXOR
0HPRULD
ಥ
&XDGURGHLQVWUXPHQWRV
(QFHQGLGR&LHUUHFHQWUDOL]DGR
6LVWHPDGHOODYHHOHFWUäQLFD
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
8QLGDGGHFRQWUROGHODFDUURಢ
FHUÞD
0DQGRHQHOYRODQWH
7RPDGHOPDOHWHUR
/DFDMDGHIXVLEOHVHVWÒHQHOODGRL]ಢ
TXLHUGRGHOFRPSDUWLPHQWRGHFDUJD
GHWUÒVGHXQDWDSD'HVPRQWHOD
WDSD
&XLGDGRGHOYHKÞFXOR
1« &LUFXLWR
1« &LUFXLWR
1« &LUFXLWR
&LHUUHFHQWUDOL]DGR6LVWHPDGH
OODYHHOHFWUäQLFD
6LVWHPDGHUHGXFFLäQFDWDOÞWLFD
VHOHFWLYD
7UDFFLäQWRWDO6LVWHPDGH
DODUPDDQWLUURER
0äGXORGHUHPROTXHWLSR$
6LVWHPDGHLQIRHQWUHWHQLPLHQWR
WLSR%
ಥ
ಥ
ಥ
ಥ
ಥ
ಥ
%ORTXHRGHOSRUWäQWUDVHURHOÚFಢ
WULFR
ಥ
6LVWHPDGHDLUHDFRQGLFLRQDGR
&DMDGHOUHPROTXH
9RODQWHWÚUPLFRVRODPHQWH
YHKÞFXORVFRQFDMDGHIXVLEOHV
GHOFRPSDUWLPHQWRGHFDUJD
6LVWHPDGHUHGXFFLäQFDWDOÞWLFD
VHOHFWLYD
6LVWHPDGHUHGXFFLäQFDWDOÞWLFD
VHOHFWLYD
&DMDGHOUHPROTXH
7HFKRVRODU
&LHUUHFHQWUDOL]DGR3RUWäQ
WUDVHURWLSR$
7HFKRVRODUWLSR%
ಥ
6LVWHPDGHUHGXFFLäQFDWDOÞWLFD
VHOHFWLYD
ಥ
ಥ
0äGXORGHUHPROTXH)XVLEOHGH
WUDQVSRUWHWLSR$
'HWHFWRUGHREVWÒFXORVODWHUDOHV
'HWHFWRUGHREVWÒFXORVODWHUDOHV
ಥ
'HWHFWRUGHREVWÒFXORVODWHಢ
UDOHV$VLHQWRVGHODQWHURVYHQWLಢ
ODGRV
ಥ
6LVWHPDGHVXVSHQVLäQDFWLYD
5HJXODGRUGHYHORFLGDG$VLVಢ
WHQWHGHVHâDOHVGHWUÒILFR$YLVR
GHFDPELRGHFDUULO0äGXORGHO
UHPROTXH
ಥ
ಥ
7HFKRVRODU
ಥ
ಥ
ಥ
&XLGDGRGHOYHKÞFXOR
+HUUDPLHQWDVGHO
YHKÞFXOR
9HKÞFXORVFRQUXHGDGHUHSXHVWR
5XHGDV\QHXPÒWLFRV
+HUUDPLHQWDV
(VWDGRGHORVQHXPÒWLFRVHVWDGR
GHODVOODQWDV
9HKÞFXORVFRQMXHJRGH
UHSDUDFLäQGHQHXPÒWLFRV
/DVKHUUDPLHQWDV\ODDUJROODGHUHಢ
PROTXHHVWÒQDORMDGDVMXQWRFRQHO
MXHJRGHUHSDUDFLäQGHQHXPÒWLFRV
HQXQDFDMDGHKHUUDPLHQWDVGHEDMR
GHODFXELHUWDGHOSLVRHQHOFRPSDUಢ
WLPHQWRGHFDUJD
/ODQWDV\QHXPÒWLFRV
(OJDWRFRQODOODYHSDUDUXHGDVODV
KHUUDPLHQWDVXQWRUQLOORODUJRSDUD
DVHJXUDUXQDUXHGDSLQFKDGD\ODDUಢ
JROODGHUHPROTXHHVWÒQHQODFDMDGH
KHUUDPLHQWDVGHEDMRGHODUXHGDGH
UHSXHVWRHQHOFRPSDUWLPHQWRGH
FDUJD5XHGDGHUHSXHVWR
&RQGX]FDOHQWDPHQWHVREUHORVERUಢ
GLOORV\VLHVSRVLEOHHQÒQJXORUHFWR
5RGDUVREUHVXSHUILFLHVFRQERUGHV
DJXGRVSXHGHGDâDUORVQHXPÒWLFRV
\ODVOODQWDV$ODSDUFDUQRDSULVLRQH
ORVQHXPÒWLFRVFRQWUDHOERUGLOOR
&RPSUXHEHSHULäGLFDPHQWHVLODV
OODQWDVHVWÒQGDâDGDV(QFDVRGH
GDâRVRGHVJDVWHH[FHVLYRUHFXUUDD
ODD\XGDGHXQWDOOHU
1HXPÒWLFRVGHLQYLHUQR
/RVQHXPÒWLFRVGHLQYLHUQRRIUHFHQ
PD\RUVHJXULGDGDWHPSHUDWXUDVLQಢ
IHULRUHVD¡&\SRUWDQWRGHEHUÞDQ
PRQWDUVHHQWRGDVODVUXHGDV
/DSHJDWLQDFRQHOOÞPLWHGHYHORFLಢ
GDGVHJëQODVQRUPDVGHWUÒILFRGHO
SDÞVGHEHFRORFDUVHHQHOFDPSRYLಢ
VXDOGHOFRQGXFWRU
&XLGDGRGHOYHKÞFXOR
3DUDQHXPÒWLFRVGHLQYLHUQRVHSHUಢ
PLWHQWRGRVORVWDPDâRV
'HVLJQDFLRQHVGHORV
QHXPÒWLFRV
3HM
5+
DQFKXUDGHOQHXPÒWLFRHQPP
UHODFLäQGHVHFFLäQDOWXUDGHO
QHXPÒWLFRUHVSHFWRDODDQಢ
FKXUDHQ
5 WLSRGHFRUUHD5DGLDO
5) WLSR5XQ)ODW
GLÒPHWURGHODOODQWDHQSXOಢ
JDGDV
ÞQGLFHGHFDUJDSHMHV
HTXLYDOHQWHDNJ
+ OHWUDGHOFäGLJRGHYHORFLGDG
/HWUDGHOFäGLJRGHYHORFLGDG
4 KDVWDNPK
6 KDVWDNPK
7 KDVWDNPK
+ KDVWDNPK
9 KDVWDNPK
: KDVWDNPK
6HOHFFLRQHXQQHXPÒWLFRDSURSLDGR
SDUDODYHORFLGDGPÒ[LPDGHVXYHಢ
KÞFXOR
/DYHORFLGDGPÒ[LPDVHFRQVLJXH
FRQHOSHVRHQYDFÞRFRQFRQGXFWRU
NJPÒVNJGHFDUJDëWLO(O
XVRGHHTXLSRRSFLRQDOSRGUÞDUHGXFLU
ODYHORFLGDGPÒ[LPDGHOYHKÞFXOR
3UHVWDFLRQHV
1HXPÒWLFRVFRQGLUHFFLäQGH
URGDGXUD
/RVQHXPÒWLFRVFRQGLUHFFLäQGHURಢ
GDGXUDGHEHQPRQWDUVHGHPDQHUD
TXHJLUHQHQODGLUHFFLäQFRUUHFWD/D
GLUHFFLäQGHURGDGXUDFRUUHFWDVHLQಢ
GLFDPHGLDQWHXQVÞPERORSHMXQD
IOHFKDHQHOIODQFR
3UHVLäQGHORVQHXPÒWLFRV
&RPSUXHEHODSUHVLäQGHORVQHXPÒಢ
WLFRVHQIUÞRDOPHQRVFDGDGÞDV\
DQWHVGHFXDOTXLHUYLDMHODUJR1RROಢ
YLGHODUXHGDGHUHSXHVWR(VWRHV
DSOLFDEOHWDPELÚQDORVYHKÞFXORVFRQ
VLVWHPDGHFRQWUROGHSUHVLäQGHORV
QHXPÒWLFRV
'HVHQURVTXHHOWDSäQGHODYÒOYXOD
3UHVLäQGHORVQHXPÒWLFRV
/DHWLTXHWDGHLQIRUPDFLäQGHSUHVLäQ
GHORVQHXPÒWLFRVVLWXDGDHQHO
PDUFRGHODSXHUWDL]TXLHUGDLQGLFD
ORVQHXPÒWLFRVHTXLSDGRVRULJLQDOಢ
PHQWH\ODVSUHVLRQHVFRUUHVSRQGLHQಢ
WHV
/RVGDWRVVREUHSUHVLRQHVVRQYÒOLಢ
GRVSDUDQHXPÒWLFRVIUÞRV6RQDSOLಢ
FDEOHVDQHXPÒWLFRVGHYHUDQR\GH
LQYLHUQR
/DUXHGDGHUHSXHVWRVHGHEHLQIODU
VLHPSUHFRQODSUHVLäQHVSHFLILFDGD
SDUDFDUJDFRPSOHWD
&XLGDGRGHOYHKÞFXOR
/DSUHVLäQGHORVQHXPÒWLFRV(&2
VLUYHSDUDUHGXFLUHOFRQVXPRGH
FRPEXVWLEOH
8QDSUHVLäQGHORVQHXPÒWLFRVLQFRಢ
UUHFWDDIHFWDUÒQHJDWLYDPHQWHDOD
VHJXULGDGDODPDQLREUDELOLGDGGHO
YHKÞFXORDOFRQIRUW\DOFRQVXPRGH
FRPEXVWLEOHDGHPÒVGHDXPHQWDUHO
GHVJDVWHGHORVQHXPÒWLFRV
/DVSUHVLRQHVGHORVQHXPÒWLFRVGLಢ
ILHUHQHQIXQFLäQGHGLYHUVDVRSFLRಢ
QHV3DUDREWHQHUHOYDORUFRUUHFWRGH
SUHVLäQGHORVQHXPÒWLFRVVLJDHO
SURFHGLPLHQWRVLJXLHQWH
,GHQWLILTXHHOHMHGHDFFLRQDಢ
PLHQWR\HOWLSRGHFDUURFHUÞD
,GHQWLILTXHHOFäGLJRGHLGHQWLILFDಢ
FLäQGHOPRWRU'DWRVGHOPRWRU
,GHQWLILTXHHOQHXPÒWLFRUHVSHFಢ
WLYR
/DVWDEODVGHSUHVLäQGHORVQHXPÒಢ
WLFRVPXHVWUDQWRGDVODVFRPELQDFLRಢ
QHVGHQHXPÒWLFRVSRVLEOHV
3DUDFRQRFHUORVQHXPÒWLFRVKRPRಢ
ORJDGRVSDUDVXYHKÞFXORFRQVXOWHHO
FHUWLILFDGRGHFRQIRUPLGDG&((TXH
VHHQWUHJDFRQHOYHKÞFXORRODGRFXಢ
PHQWDFLäQGHPDWULFXODFLäQQDFLRQDO
(OFRQGXFWRUHVUHVSRQVDEOHGHO
DMXVWHFRUUHFWRGHODSUHVLäQGHORV
QHXPÒWLFRV
$GYHUWHQFLD
6LODSUHVLäQHVLQVXILFLHQWHORV
QHXPÒWLFRVSXHGHQFDOHQWDUVH
FRQVLGHUDEOHPHQWHSXGLHQGR
SURGXFLUVHGHVSHUIHFWRVLQWHUQRV
TXHSXHGHQOOHJDUDSURYRFDUHO
GHVSUHQGLPLHQWRGHODEDQGDGH
URGDGXUDHLQFOXVRXQUHYHQWäQGHO
QHXPÒWLFRFXDQGRVHFLUFXODD
JUDQYHORFLGDG
$GYHUWHQFLD
3DUDQHXPÒWLFRVHVSHFÞILFRVOD
SUHVLäQGHORVQHXPÒWLFRVUHFRಢ
PHQGDGDFRPRVHPXHVWUDHQOD
WDEODGHSUHVLäQGHORVQHXPÒWLಢ
FRVSXHGHH[FHGHUODSUHVLäQPÒಢ
[LPDGHQHXPÒWLFRVVHJëQORLQGLಢ
FDGRHQHOQHXPÒWLFR1RH[FHGD
QXQFDODSUHVLäQPÒ[LPDGHORV
QHXPÒWLFRVVHJëQORLQGLFDGRHQ
HOQHXPÒWLFR
6LKD\TXHDXPHQWDURUHGXFLUODSUHಢ
VLäQGHORVQHXPÒWLFRVHQXQYHಢ
KÞFXORFRQVLVWHPDGHFRQWUROGHSUHಢ
VLäQGHORVQHXPÒWLFRVGHVFRQHFWH
HOHQFHQGLGR'HVSXÚVGHDMXVWDUOD
SUHVLäQGHORVQHXPÒWLFRVFRQHFWHHO
HQFHQGLGR\VHOHFFLRQHHODMXVWHFRಢ
UUHVSRQGLHQWHHQODSÒJLQD&
&DUJDGH
ORVQHXPÒWLFRVHQHOFHQWURGHLQIRUಢ
PDFLäQGHOFRQGXFWRU
'HSHQGHQFLDGHODWHPSHUDWXUD
/DSUHVLäQGHORVQHXPÒWLFRVGHಢ
SHQGHGHODWHPSHUDWXUDGHOQHXPÒಢ
WLFR'XUDQWHODFRQGXFFLäQDXPHQಢ
WDQODWHPSHUDWXUD\ODSUHVLäQGHORV
QHXPÒWLFRV/RVYDORUHVGHSUHVLäQ
GHORVQHXPÒWLFRVSURSRUFLRQDGRVHQ
ODHWLTXHWDGHLQIRUPDFLäQGHORVQHXಢ
PÒWLFRV\HOFXDGURGHSUHVLäQGHORV
QHXPÒWLFRVVRQYÒOLGRVSDUDQHXPÒಢ
WLFRVIUÞRVHVGHFLUD¡&
&XLGDGRGHOYHKÞFXOR
/DSUHVLäQDXPHQWDFDVLN3DSDUD
XQDXPHQWRGHWHPSHUDWXUDGH
¡&(VWRGHEHWHQHUVHHQFXHQWD
DOYHULILFDUQHXPÒWLFRVFDOLHQWHV
(OYDORUGHODSUHVLäQPRVWUDGRHQHO
FHQWURGHLQIRUPDFLäQGHOFRQGXFWRU
UHSUHVHQWDODSUHVLäQUHDOGHORVQHXಢ
PÒWLFRV8QQHXPÒWLFRIUÞRPRVWUDUÒ
XQYDORULQIHULRUORFXDOQRVLJQLILFD
TXHH[LVWDXQDIXJDGHDLUH
7RGDVODVUXHGDVGHEHQHVWDUHTXLಢ
SDGDVFRQVHQVRUHVGHSUHVLäQ\ORV
QHXPÒWLFRVGHEHQHVWDULQIODGRVDOD
SUHVLäQSUHVFULWD
6LVWHPDGHFRQWUROGH
SUHVLäQGHORVQHXPÒWLFRV
6HOHFFLRQHODSÒJLQD0
0RQLWRUL]DFLäQ
GHODSUHVLäQGHORVQHXPÒWLFRVHQHO
0HQë,,QIRUPDFLäQHQHOFHQWURGHLQಢ
IRUPDFLäQGHOFRQGXFWRU
(OVLVWHPDGHFRQWUROGHSUHVLäQGH
ORVQHXPÒWLFRVFRPSUXHEDODSUHVLäQ
GHODVFXDWURUXHGDVXQDYH]DOPLಢ
QXWRFXDQGRODYHORFLGDGGHOYHಢ
KÞFXORVXSHUDXQGHWHUPLQDGROÞPLWH
$WHQFLäQ
(OVLVWHPDGHFRQWUROGHSUHVLäQ
GHORVQHXPÒWLFRVVäORSXHGHDYLಢ
VDUOHGHXQSUREOHPDGHSUHVLäQ
EDMDGHORVQHXPÒWLFRV\QRVXVWLಢ
WX\HDODVWDUHDVGHPDQWHQLಢ
PLHQWRGHORVQHXPÒWLFRVSRU
SDUWHGHOFRQGXFWRU
1RWD
(QSDÞVHVGRQGHHOVLVWHPDGHFRQಢ
WUROGHSUHVLäQGHORVQHXPÒWLFRVHV
REOLJDWRULROHJDOPHQWHHOXVRGH
UXHGDVVLQVHQVRUHVGHSUHVLäQSRಢ
GUÞDDQXODUHOSHUPLVRGHFLUFXODFLäQ
GHOYHKÞFXOR
(OHVWDGRGHOVLVWHPD\ODVGLIHUHQಢ
FLDVGHSUHVLäQSHTXHâDVVHLQGLFDQ
PHGLDQWHXQPHQVDMHTXHLQGLFDHO
QHXPÒWLFRFRUUHVSRQGLHQWHHQHOFHQಢ
WURGHLQIRUPDFLäQGHOFRQGXFWRU
(OVLVWHPDFRQVLGHUDODWHPSHUDWXUD
GHORVQHXPÒWLFRVSDUDODVDGYHUWHQಢ
FLDV
'HSHQGHQFLDGHODWHPSHUDWXUD
6LVHGHWHFWDXQSUREOHPDGHSUHVLäQ
EDMDGHORVQHXPÒWLFRVVHLQGLFDPHಢ
GLDQWHHOWHVWLJRGHFRQWUROO
6LVHHQFLHQGHOSDUHORDQWHVSRVLಢ
EOHHLQIOHORVQHXPÒWLFRVDODSUHVLäQ
UHFRPHQGDGD
7UDVHOLQIODGRSXHGHVHUQHFHVDULR
FRQGXFLUGXUDQWHXQWLHPSRSDUDDFಢ
WXDOL]DUORVYDORUHVGHSUHVLäQGHORV
QHXPÒWLFRVHQHOFHQWURGHLQIRUPDಢ
FLäQGHOFRQGXFWRU'XUDQWHHVWH
WLHPSRVHSXHGHLOXPLQDUHOWHVWLJRO
&XLGDGRGHOYHKÞFXOR
6LHOWHVWLJROVHLOXPLQDFRQWHPSHಢ
UDWXUDVEDMDV\OXHJRVHDSDJDGHVಢ
SXÚVGHFRQGXFLUXQUDWRSRGUÞDLQಢ
GLFDUXQSUREOHPDGHSUHVLäQEDMDGHO
QHXPÒWLFR&RPSUREDUODSUHVLäQGH
ORVQHXPÒWLFRV
0HQVDMHVGHOYHKÞFXOR
6LKD\TXHUHGXFLURDXPHQWDUODSUHಢ
VLäQGHORVQHXPÒWLFRVGHVFRQHFWH
HOHQFHQGLGR
0RQWHVäORUXHGDVFRQVHQVRUHVGH
SUHVLäQHQFDVRFRQWUDULRQRVH
PRVWUDUÒODSUHVLäQGHORVQHXPÒWLಢ
FRV\HOWHVWLJROSHUPDQHFHUÒHQಢ
FHQGLGR
/DUXHGDGHUHSXHVWRRODUXHGDGH
HPHUJHQFLDQRHVWÒHTXLSDGDFRQ
VHQVRUGHSUHVLäQ(OVLVWHPDGHFRQಢ
WUROGHSUHVLäQGHORVQHXPÒWLFRVQR
IXQFLRQDSDUDHVWHWLSRGHUXHGDV6H
HQFLHQGHHOWHVWLJRGHFRQWUROO(O
VLVWHPDVLJXHIXQFLRQDQGRSDUDODV
RWUDVWUHVUXHGDV
(OXVRGHMXHJRVGHUHSDUDFLäQGH
QHXPÒWLFRVGLVSRQLEOHVHQFRPHUFLRV
SXHGHPHQRVFDEDUHOIXQFLRQDಢ
PLHQWRGHOVLVWHPD6HUHFRPLHQGDHO
XVRGHMXHJRVKRPRORJDGRVSRUHOIDಢ
EULFDQWH
(OXVRGHGLVSRVLWLYRVHOHFWUäQLFRVR
ODSUR[LPLGDGDLQVWDODFLRQHVTXHXWLಢ
OL]DQIUHFXHQFLDVGHRQGDVLPLODUHV
SRGUÞDDIHFWDUDOIXQFLRQDPLHQWRGHO
VLVWHPDGHFRQWUROGHSUHVLäQGHORV
QHXPÒWLFRV
&DGDYH]TXHVHVXVWLWX\DQQHXPÒWLಢ
FRVKD\TXHGHVPRQWDU\UHYLVDUORV
VHQVRUHVGHOVLVWHPDGHFRQWUROGH
SUHVLäQGHORVQHXPÒWLFRV3DUDORV
VHQVRUHVDWRUQLOODGRVVXVWLWX\DHO
REëVGHODYÒOYXOD\HODQLOORGHMXQWD
SDUDORVVHQVRUHVILMDGRVFRQFOLS
VXVWLWX\DHOYÒVWDJRGHYÒOYXODFRPಢ
SOHWR
PDFLäQGHOFRQGXFWRU(VWH
DMXVWHHVODUHIHUHQFLDSDUDODVDGYHUಢ
WHQFLDVGHSUHVLäQGHORVQHXPÒWLFRV
(OPHQë&
&DUJDGHOQHXPÒWLFRDSDಢ
UHFHëQLFDPHQWHVLHOYHKÞFXORHVWÒ
GHWHQLGR\HOIUHQRGHHVWDFLRQDಢ
PLHQWRHVWÒDSOLFDGR(QYHKÞFXORV
FRQFDPELRDXWRPÒWLFRODSDODQFD
VHOHFWRUDGHEHHQFRQWUDUVHHQ3
3
(VWDGRGHFDUJDGHOYHKÞFXOR
$MXVWHODSUHVLäQGHORVQHXPÒWLFRVD
ODVFRQGLFLRQHVGHFDUJDFRQIRUPHD
ODHWLTXHWDGHLQIRUPDFLäQVREUHQHXಢ
PÒWLFRVRHOFXDGURGHSUHVLRQHVGH
ORVQHXPÒWLFRV\VHOHFFLRQHHO
DMXVWHDSURSLDGRHQODSÒJLQD&
&DUJD
GHORVQHXPÒWLFRVHQHOPHQë
&RQILJXUDFLäQHQHOFHQWURGHLQIRUಢ
6HOHFFLRQH
ထ /LJHUDSDUDSUHVLäQGHFRQIRUW
KDVWDSHUVRQDV
ထ (FRSDUDSUHVLäQ(FRKDVWD
SHUVRQDV
ထ 0D[SDUDFDUJDFRPSOHWD
&XLGDGRGHOYHKÞFXOR
&DPELRGHOWDPDâRGH
QHXPÒWLFRV\OODQWDV
)XQFLäQGHDXWRDSUHQGL]DMH
'HVSXÚVGHFDPELDUODVUXHGDVHO
YHKÞFXORGHEHHVWDUSDUDGRGXUDQWH
XQRVPLQXWRVDQWHVGHTXHHOVLVಢ
WHPDUHFDOFXOHORVYDORUHV(OVLಢ
JXLHQWHSURFHVRGHUHDSUHQGL]DMH
WDUGDKDVWDPLQXWRVFLUFXODQGRD
XQDYHORFLGDGGHNPKFRPRPÞಢ
QLPR(QHVWHFDVRSXHGHDSDUHFHU
RIOXFWXDUORVYDORUHVGHODVSUHಢ
VLRQHVHQHOFHQWURGHLQIRUPDFLäQGHO
FRQGXFWRU
6LKD\SUREOHPDVGXUDQWHHOSURFHVR
GHUHDSUHQGL]DMHDSDUHFHXQPHQಢ
VDMHGHDGYHUWHQFLDHQHOFHQWURGH
LQIRUPDFLäQGHOFRQGXFWRU
3URIXQGLGDGGHOGLEXMR
&RPSUXHEHUHJXODUPHQWHODSURIXQಢ
GLGDGGHOGLEXMR
3RUPRWLYRVGHVHJXULGDGORVQHXಢ
PÒWLFRVGHEHQVXVWLWXLUVHDODOFDQ]DU
HOGLEXMRXQDSURIXQGLGDGGHPP
QHXPÒWLFRVGHLQYLHUQRDORVPP
3RUPRWLYRVGHVHJXULGDGVHUHFRಢ
PLHQGDTXHODSURIXQGLGDGGHOGLEXMR
GHORVQHXPÒWLFRVHQXQHMHQRGHಢ
EHUÞDYDULDUPÒVGHPP
/DSURIXQGLGDGPÞQLPDDXWRUL]DGDOHಢ
JDOPHQWHPPVHKDDOFDQ]DGR
FXDQGRHOGLEXMRPXHVWUDXQLQGLFDಢ
GRUGHGHVJDVWH7:, 7UHDG:HDU
,QGLFDWRU6XSRVLFLäQVHLQGLFDPHಢ
GLDQWHPDUFDVHQHOIODQFRGHOQHXಢ
PÒWLFR
6LHOGHVJDVWHGHODQWHIXHVHPD\RU
TXHGHWUÒVFDPELHSHULäGLFDPHQWH
ODVUXHGDVGHODQWHUDVSRUODVWUDVHಢ
UDV$VHJëUHVHGHTXHODGLUHFFLäQGH
JLURGHODVUXHGDVVHPDQWHQJD
/RVQHXPÒWLFRVHQYHMHFHQDXQTXH
QRVHXVHQ/HUHFRPHQGDPRVVXVWLಢ
WXLUORVQHXPÒWLFRVFDGDDâRV
6LVHXWLOL]DQQHXPÒWLFRVFRQXQWDಢ
PDâRGLIHUHQWHDORVPRQWDGRVGHIÒಢ
EULFDSXHGHVHUQHFHVDULRUHSURJUDಢ
PDUHOYHORFÞPHWURDVÞFRPRODSUHಢ
VLäQQRPLQDOGHORVQHXPÒWLFRV\
UHDOL]DURWUDVPRGLILFDFLRQHVHQHOYHಢ
KÞFXOR
$OFDPELDUDQHXPÒWLFRVGHRWURWDಢ
PDâRKDJDVXVWLWXLUODSHJDWLQDFRQ
ODSUHVLäQGHORVQHXPÒWLFRV
$GYHUWHQFLD
(OXVRGHFXELHUWDVRQHXPÒWLFRV
LQDSURSLDGRVSXHGHGDUOXJDUD
DFFLGHQWHV\DODDQXODFLäQGHO
SHUPLVRGHFLUFXODFLäQGHVXYHಢ
KÞFXOR
7DSDFXERV
6HGHEHQXWLOL]DUWDSDFXERV\QHXಢ
PÒWLFRVKRPRORJDGRVSRUHOIDEULಢ
FDQWHSDUDHOYHKÞFXORFRUUHVSRQಢ
GLHQWHTXHFXPSOHQWRGRVORVUHTXLಢ
VLWRVGHODFRPELQDFLäQGHOODQWD\
QHXPÒWLFR
&XLGDGRGHOYHKÞFXOR
6LQRVHXWLOL]DQWDSDFXERV\QHXPÒಢ
WLFRVKRPRORJDGRVSRUHOIDEULFDQWH
ORVQHXPÒWLFRVQRGHEHQGLVSRQHUGH
QHUYDGXUDGHSURWHFFLäQUDGLDO
/RVWDSDFXERVQRGHEHQPHQRVFDEDU
ODUHIULJHUDFLäQGHORVIUHQRV
&DGHQDVSDUDQLHYH
$GYHUWHQFLD
(OXVRGHQHXPÒWLFRVRWDSDFXERV
LQDGHFXDGRVSXHGHGDUOXJDUDOD
SÚUGLGDUHSHQWLQDGHSUHVLäQ\
SRUWDQWRRFDVLRQDUXQDFFLGHQWH
9HKÞFXORVFRQOODQWDVGHDFHUR6LXWLಢ
OL]DWXHUFDVGHUXHGDDQWLUURERQRILMH
ORVWDSDFXERV
/RVQHXPÒWLFRVGHWDPDâR
5WLHQHQXQWDSDFXERVHVಢ
SHFÞILFR3DUDTXLWDUHOWDSDFXERVGH
ODUXHGDGHVPRQWDGDSULPHURVHGHಢ
EHQGHVHQFODYDUORVEUD]RVXQRSRU
XQR/XHJRSUHVLRQHVREUHHOFHQWUR
GHOWDSDFXERVGHVGHDWUÒV\GHVPäQಢ
WHOR
3DUDPRQWDUORSULPHURDMXVWHHOWDಢ
SDFXERVGHPRGRTXHHOSDVDGRUGH
SRVLFLäQHQWUHHQHOUHEDMH
6äORVHSXHGHQPRQWDUFDGHQDVHQ
QHXPÒWLFRVGHOWDPDâR5
5\5
&RXQWU\7RXUHU
6RORVHSXHGHQPRQWDUFDGHQDVHQ
QHXPÒWLFRVGHOWDPDâR5
5XHGDGHHPHUJHQFLD
1RVHSXHGHQXWLOL]DUFDGHQDVHQOD
UXHGDGHHPHUJHQFLD
-XHJRGHUHSDUDFLäQGH
QHXPÒWLFRV
6äORVHSXHGHQXWLOL]DUFDGHQDVHQ
ODVUXHGDVGHODQWHUDV
8WLOLFHVLHPSUHFDGHQDVGHHVODERಢ
QHVILQRVTXHQRVREUHVDOJDQPÒVGH
PPGHOGLEXMRGHOQHXPÒWLFR\GH
ORVODGRVLQWHULRUHVLQFOXLGRHOFLHUUH
GHODFDGHQD
$GYHUWHQFLD
/RVGDâRVSXHGHQRFDVLRQDUXQ
UHYHQWäQGHOQHXPÒWLFR
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV6SRUWV7RXUHU
(OMXHJRGHUHSDUDFLäQGHQHXPÒWLFRV
SHUPLWHVXEVDQDUGDâRVPHQRUHVHQ
HOGLEXMRGHOQHXPÒWLFR
1RUHWLUHORVFXHUSRVH[WUDâRVGHORV
QHXPÒWLFRV
/RVGDâRVTXHVXSHUHQORVPPR
TXHHVWÚQHQHOIODQFRGHOQHXPÒWLFR
QRSXHGHQVHUVXEVDQDGRVFRQHO
MXHJRGHUHSDUDFLäQGHQHXPÒWLFRV
&XLGDGRGHOYHKÞFXOR
$GYHUWHQFLD
1RFRQGX]FDDPÒVGHNPK
1RXWLOLFHODUXHGDUHSDUDGDGXಢ
UDQWHXQSHUÞRGRGHWLHPSRSURಢ
ORQJDGR
/DGLUHFFLäQ\ODPDQLREUDELOLGDG
SXHGHQYHUVHDIHFWDGDV
(OMXHJRGHUHSDUDFLäQGHQHXPÒWLFRV
HVWÒHQXQFRPSDUWLPHQWRGHEDMRGH
ODFXELHUWDGHOSLVRHQHOFRPSDUWLಢ
PHQWRGHFDUJD
6DTXHHOMXHJRGHUHSDUDFLäQGH
QHXPÒWLFRVGHOFRPSDUWLPHQWR
([WUDLJDHOFRPSUHVRU
(QFDVRGHVXIULUXQSLQFKD]R
$FFLRQHHOIUHQRGHHVWDFLRQDPLHQWR
\HQJUDQHODSULPHUDODPDUFKDDWUÒV
R3
3
6DTXHHOFDEOHGHFRQH[LäQHOÚFಢ
WULFD\HOWXERIOH[LEOHGHDLUHGHO
FRPSDUWLPHQWRSRUWDREMHWRVHQOD
SDUWHLQIHULRUGHOFRPSUHVRU
(QURVTXHHOWXERIOH[LEOHGHDLUH
GHOFRPSUHVRUDODFRQH[LäQHQHO
ERWHGHVHOODGRU
&RORTXHHOERWHGHVHOODGRUHQOD
VXMHFLäQGHOFRPSUHVRU
&RORTXHHOFRPSUHVRUFHUFDGHO
QHXPÒWLFRGHPRGRTXHHOERWH
GHVHOODGRUHVWÚHQSRVLFLäQYHUWLಢ
FDO
&XLGDGRGHOYHKÞFXOR
DOFDQ]DGDODSUHVLäQFRUUHFWD
GHVFRQHFWHHOFRPSUHVRU
'HVHQURVTXHHOWDSäQGHODYÒOಢ
YXODGHOQHXPÒWLFRDYHULDGR
(QURVTXHHOWXERIOH[LEOHGHOOHಢ
QDGRDODYÒOYXODGHOQHXPÒWLFR
(OLQWHUUXSWRUGHOFRPSUHVRUGHEH
HVWDUHQ!
&RQHFWHHOHQFKXIHGHOFRPSUHಢ
VRUHQODWRPDGHFRUULHQWHRHQHO
HQFHQGHGRU
3DUDLPSHGLUODGHVFDUJDGHODEDಢ
WHUÞDUHFRPHQGDPRVGHMDUHOPRಢ
WRUHQPDUFKD
3RQJDHOLQWHUUXSWRUEDVFXODQWH
GHOFRPSUHVRUHQ,,(OQHXPÒWLFR
VHOOHQDUÒFRQHOVHOODGRU
0LHQWUDVVHYDFÞDHOERWHGHVHಢ
OODGRUXQRVVHJXQGRVHOPDಢ
QäPHWURGHOFRPSUHVRUSXHGHOOHಢ
JDUDPRVWUDUEUHYHPHQWHSUHVLRಢ
QHVGHKDVWDEDU3RVWHULRUಢ
PHQWHODSUHVLäQHPSLH]DDGHVಢ
FHQGHU
7RGRHOVHOODGRUVHERPEHDDOLQಢ
WHULRUGHOQHXPÒWLFR$FRQWLQXDಢ
FLäQVHLQIODHOQHXPÒWLFR
/DSUHVLäQSUHVFULWDSDUDHOQHXಢ
PÒWLFRGHEHUÞDDOFDQ]DUVHHQXQ
SOD]RGHPLQXWRV3UHVLäQGH
ORVQHXPÒWLFRV8QDYH]
6LODSUHVLäQSUHVFULWDQRVHDOಢ
FDQ]DHQXQSOD]RGHPLQXWRV
GHVFRQHFWHHOMXHJRGHUHSDUDಢ
FLäQGHQHXPÒWLFRV+DJDJLUDUHO
QHXPÒWLFRXQDYXHOWDFRPSOHWD
9XHOYDDFRQHFWDUHOMXHJRGHUHಢ
SDUDFLäQGHQHXPÒWLFRV\FRQWLಢ
QëHHOSURFHVRGHLQIODGRGXUDQWH
RWURVPLQXWRV6LDëQQRVHDOಢ
FDQ]DODSUHVLäQSUHVFULWDVLJQLಢ
ILFDTXHHOGDâRGHOQHXPÒWLFRHV
GHPDVLDGRJUDYH5HFXUUDDOD
D\XGDGHXQWDOOHU
&XLGDGRGHOYHKÞFXOR
9DFÞHHOH[FHVRGHSUHVLäQGHORV
QHXPÒWLFRVPHGLDQWHHOERWäQVLಢ
WXDGRHQFLPDGHOLQGLFDGRUGH
SUHVLäQ
(OFRPSUHVRUQRGHEHHVWDUHQ
VHUYLFLRPÒVGHPLQXWRV
'HVDFRSOHHOMXHJRGHUHSDUDFLäQ
GHQHXPÒWLFRV3XOVHODSHVWDâD
TXHKD\HQHOVRSRUWHSDUDGHVಢ
PRQWDUHOERWHGHVHOODGRUGHOVRಢ
SRUWH(QURVTXHHOWXERIOH[LEOHGH
LQIODGRHQODFRQH[LäQOLEUHGHO
ERWHGHVHOODGRU(VWRHYLWDIXJDV
GHVHOODGRU*XDUGHHOMXHJRGH
UHSDUDFLäQGHQHXPÒWLFRVHQHO
FRPSDUWLPHQWRGHFDUJD
(OLPLQHHOH[FHVRGHVHOODGRUFRQ
XQSDâR
/DSHJDWLQDTXHVHDGMXQWDFRQHO
ERWHGHVHOODGRUTXHLQGLFDODYHಢ
ORFLGDGPÒ[LPDDXWRUL]DGDGHEH
FRORFDUVHHQHOFDPSRYLVXDOGHO
FRQGXFWRU
&RQWLQëHODPDUFKDLQPHGLDWDಢ
PHQWHSDUDTXHHOVHOODGRUVHGLVಢ
WULEX\DXQLIRUPHPHQWHHQHOQHXಢ
PÒWLFR'HVSXÚVGHFRQGXFLU
XQRVNPQRPÒVGH
PLQXWRVGHWÚQJDVH\FRPಢ
SUXHEHODSUHVLäQGHOQHXPÒWLFR
3DUDHOORFRQHFWHGLUHFWDPHQWHHO
WXERIOH[LEOHGHDLUHDODYÒOYXOD
GHOQHXPÒWLFR\DOFRPSUHVRU
6LODSUHVLäQGHOQHXPÒWLFRHVVXಢ
SHULRUDEDUDMëVWHODDOYDORU
SUHVFULWR5HSLWDHOSURFHGLPLHQWR
KDVWDTXHQRKD\DPÒVSÚUGLGD
GHSUHVLäQ
6LODSUHVLäQGHOQHXPÒWLFRHVLQಢ
IHULRUDEDUQRVHSXHGHFLUಢ
FXODUFRQHOYHKÞFXOR5HFXUUDDOD
D\XGDGHXQWDOOHU
*XDUGHHOMXHJRGHUHSDUDFLäQGH
QHXPÒWLFRVHQHOFRPSDUWLPHQWR
GHFDUJD
1RWD
/DVFDUDFWHUÞVWLFDVGHFRQGXFFLäQ
GHOQHXPÒWLFRUHSDUDGRVHYHQDIHFಢ
WDGDVQHJDWLYDPHQWHSRUORTXHHV
UHFRPHQGDEOHVXVWLWXLUGLFKRQHXಢ
PÒWLFR
6LHOFRPSUHVRUSURGXFHUXLGRVDQäಢ
PDORVRVHFDOLHQWDGÚMHORGHVFRಢ
QHFWDGRGXUDQWHDOPHQRVPLQXಢ
WRV
/DYÒOYXODGHVHJXULGDGLQWHJUDGD
VHDEUHDXQDSUHVLäQGHEDU
7HQJDHQFXHQWDODIHFKDGHFDGXಢ
FLGDGGHOMXHJR'HVSXÚVGHGLFKD
IHFKDQRSXHGHJDUDQWL]DUVHVXFDಢ
SDFLGDGGHVHOODGR&RPSUXHEHOD
IHFKDGHFDGXFLGDGLQGLFDGDHQHO
ERWHGHVHOODGRU
6XVWLWX\DHOERWHGHVHOODGRUXQDYH]
XVDGR'HVHFKHHOERWHFRQIRUPHD
ODVGLVSRVLFLRQHVOHJDOHVYLJHQWHV
(OFRPSUHVRU\HOVHOODGRUSXHGHQ
XWLOL]DUVHDXQDWHPSHUDWXUDGH
KDVWD¡&DSUR[LPDGDPHQWH
/RVDGDSWDGRUHVVXPLQLVWUDGRV
SXHGHQXWLOL]DUVHSDUDLQIODURWURV
REMHWRVFRPREDORQHVGHIëWEROFROಢ
FKRQHVGHDLUHERWHVQHXPÒWLFRV
&XLGDGRGHOYHKÞFXOR
HWF(VWÒQDORMDGRVHQODSDUWHLQIHಢ
ULRUGHOFRPSUHVRU3DUDGHVPRQWDUಢ
ORVHQURVTXHHOWXERIOH[LEOHGHDLUH
GHOFRPSUHVRU\H[WUDLJDHODGDSWDಢ
GRU
&DPELRGHUXHGDV
$OJXQRVYHKÞFXORVHVWÒQHTXLSDGRV
FRQXQMXHJRGHUHSDUDFLäQGHQHXಢ
PÒWLFRVHQYH]GHXQDUXHGDGHUHಢ
SXHVWR
6HGHEHQHIHFWXDUORVSUHSDUDWLYRV\
REVHUYDUODVLQGLFDFLRQHVVLJXLHQWHV
ထ $SDUTXHHOYHKÞFXORHQXQDVXಢ
SHUILFLHQLYHODGDILUPH\QRGHVಢ
OL]DQWH/DVUXHGDVGHODQWHUDV
GHEHQHVWDUHQSRVLFLäQGHPDUಢ
FKDHQOÞQHDUHFWD
ထ $FFLRQHHOIUHQRGHHVWDFLRQDಢ
PLHQWR\HQJUDQHODSULPHUDOD
PDUFKDDWUÒVR3
3
ထ 6DTXHODUXHGDGHUHSXHVWR
ထ 1XQFDFDPELHPÒVGHXQDUXHGD
VLPXOWÒQHDPHQWH
ထ
ထ
ထ
ထ
ထ
ထ
ထ
ထ
8WLOLFHHOJDWRëQLFDPHQWHSDUD
FDPELDUODVUXHGDVHQFDVRGH
SLQFKD]RQRSDUDHOFDPELRHVಢ
WDFLRQDOGHQHXPÒWLFRVGHLQಢ
YLHUQRRGHYHUDQR
(OJDWRQRSUHFLVDPDQWHQLಢ
PLHQWR
6LHOWHUUHQRHVEODQGRGHEHFRಢ
ORFDUVHGHEDMRGHOJDWRXQDEDVH
HVWDEOHFRQXQJURVRUPÒ[LPR
GHFP
6DTXHORVREMHWRVSHVDGRVGHO
YHKÞFXORDQWHVGHOHYDQWDUORFRQ
XQJDWR
1RGHEHKDEHUSHUVRQDVQLDQLಢ
PDOHVGHQWURGHOYHKÞFXOR
FXDQGRVHXWLOLFHHOJDWR
1RVHPHWDQXQFDGHEDMRGHXQ
YHKÞFXORTXHHVWÚDO]DGRFRQXQ
JDWR
1RDUUDQTXHHOYHKÞFXORPLHQWUDV
HVWÚOHYDQWDGRFRQHOJDWR
/LPSLHODVWXHUFDVGHUXHGD\ODV
URVFDVFRQXQSDâROLPSLRDQWHV
GHPRQWDUODUXHGD
$GYHUWHQFLD
1RHQJUDVHHOWRUQLOORGHUXHGDOD
WXHUFDGHUXHGDQLHOFRQRGHOD
WXHUFDGHUXHGD
'HVHQFODYHORVWDSRQHVGHODV
WXHUFDVGHUXHGDFRQXQGHVWRUQLಢ
OODGRU\GHVPäQWHORV
5XHGDVGHDFHURFRQWDSDFXERV
'HVPRQWHHOWDSDFXERV
/ODQWDVGHDOHDFLäQ'HVHQFODYH
ORVWDSRQHVGHODVWXHUFDVGH
UXHGDFRQXQGHVWRUQLOODGRU\GHVಢ
PäQWHORV3DUDSURWHJHUODOODQWD
FRORTXHXQSDâRVXDYHHQWUHHO
GHVWRUQLOODGRU\ODOODQWDGHDOHDಢ
FLäQ
&XLGDGRGHOYHKÞFXOR
$VHJëUHVHGHTXHHOJDWRHVWÒ
ELHQFRORFDGRHQHOSXQWRGHHOHಢ
YDFLäQFRUUHVSRQGLHQWHGHOYHಢ
KÞFXOR
'HVSOLHJXHODOODYHSDUDUXHGDV\
PäQWHODDVHJXUÒQGRVHGHVXFRಢ
UUHFWDFRORFDFLäQ\DIORMHFDGD
WXHUFDGHUXHGDPHGLDYXHOWD
/DVUXHGDVSRGUÞDQHVWDUSURWHJLಢ
GDVSRUWXHUFDVGHUXHGDDQWLಢ
UURER3DUDDIORMDUHVWDVWXHUFDV
HVSHFÞILFDVDQWHVGHFRORFDUOD
OODYHSDUDWXHUFDVGHUXHGDDQWLಢ
UURERGHEHFRORFDUSULPHURHO
DGDSWDGRUGHOODYHHQHOFDEH]DO
GHODWXHUFD(ODGDSWDGRUHVWÒ
JXDUGDGRHQODJXDQWHUD
(VSRVLEOHTXHDOJXQDVYHUVLRQHV
WHQJDQFXELHUWRHOSXQWRGHHOHಢ
YDFLäQGHOYHKÞFXOR([WUDLJDODWHಢ
UDOPHQWHODFXELHUWD
$MXVWHHOJDWRDODDOWXUDQHFHVDಢ
ULD&RORTXHHOJDWRGLUHFWDPHQWH
GHEDMRGHOSXQWRGHHOHYDFLäQGH
PRGRTXHQRSXHGDUHVEDODU
&XLGDGRGHOYHKÞFXOR
$FRSOHODOODYHSDUDUXHGDV\FRQ
HOJDWRFRUUHFWDPHQWHDOLQHDGR
JLUHODOODYHSDUDUXHGDVKDVWDTXH
ODUXHGDVHGHVSHJXHGHOVXHOR
'HVHQURVTXHODVWXHUFDVGH
UXHGD
&DPELHODUXHGD5XHGDGHUHಢ
SXHVWR
(QURVTXHODVWXHUFDVGHUXHGD
%DMHHOYHKÞFXOR
,QVHUWHFRPSOHWDPHQWHODOODYH
SDUDUXHGDV\DSULHWHODVWXHUFDV
VLJXLHQGRXQRUGHQHQFUX](OSDU
GHDSULHWHHVGH1P
$OLQHHHORULILFLRSDUDODYÒOYXODHQ
HOWDSDFXERVFRQODYÒOYXODGHO
QHXPÒWLFRDQWHVGHOPRQWDMH
0RQWHORVWDSRQHVGHODVWXHUFDV
GHUXHGD
0RQWHODFXELHUWDGHOSXQWRGH
HOHYDFLäQGHOYHKÞFXOR
*XDUGH\ILMHODUXHGDUHHPSODಢ
]DGDODVKHUUDPLHQWDVGHO
YHKÞFXOR\HODGDSWDGRU
SDUDORVWXHUFDVGHUXHGDDQWLಢ
UURER
&RPSUXHEHODSUHVLäQGHOQHXPÒಢ
WLFRPRQWDGR\HOSDUGHDSULHWHGH
ODVWXHUFDVGHUXHGDORDQWHVSRಢ
VLEOH
+DJDVXVWLWXLURUHSDUDUHOQHXPÒWLFR
DYHULDGRORDQWHVSRVLEOH
3XQWRVGHDSR\RSDUDOD
SODWDIRUPDHOHYDGRUD
3RVLFLäQGHOEUD]RWUDVHURGHODSODಢ
WDIRUPDHOHYDGRUDHQORVEDMRV
&XLGDGRGHOYHKÞFXOR
3RVLFLäQGHOEUD]RGHODQWHURGHOD
SODWDIRUPDHOHYDGRUDHQORVEDMRV
5XHGDGHUHSXHVWR
$OJXQRVYHKÞFXORVHVWÒQHTXLSDGRV
FRQXQMXHJRGHUHSDUDFLäQGHQHXಢ
PÒWLFRVHQYH]GHXQDUXHGDGHUHಢ
SXHVWR
6LYDDPRQWDUXQDUXHGDGHUHSXHVWR
GLIHUHQWHGHODVGHPÒVUXHGDVGLFKD
UXHGDSRGUÞDFODVLILFDUVHFRPRUXHGD
GHUHSXHVWRWHPSRUDO\VHDSOLFDUÞDQ
ORVOÞPLWHVGHYHORFLGDGFRUUHVSRQಢ
GLHQWHVLQFOXVRDXQTXHQRKD\DQLQಢ
JXQDHWLTXHWDTXHORLQGLTXH&RQಢ
VXOWHDXQWDOOHUSDUDFRQRFHUHOOÞPLWH
GHYHORFLGDGDSOLFDEOH
/DUXHGDGHUHSXHVWRWLHQHXQDOODQWD
GHDFHUR
$WHQFLäQ
(OXVRGHXQDUXHGDGHUHSXHVWR
GHPHQRUWDPDâRTXHODVGHPÒV
UXHGDVRMXQWRFRQQHXPÒWLFRVGH
LQYLHUQRSXHGHDIHFWDUDOFRPSRUಢ
WDPLHQWRGHPDUFKD+DJDVXVWLಢ
WXLUHOQHXPÒWLFRDYHULDGRORDQWHV
SRVLEOH
'HEDMRGHODUXHGDGHUHSXHVWR
HVWÒODFDMDFRQODVKHUUDPLHQWDV
GHOYHKÞFXOR
6LGHVSXÚVGHXQFDPELRGH
UXHGDQRVHJXDUGDQLQJXQD
UXHGDHQODFDYLGDGGHODUXHGDGH
UHSXHVWRDVHJXUHODFDMDGHKHಢ
UUDPLHQWDVYROYLHQGRDDSUHWDUOD
WXHUFDGHPDULSRVD\FLHUUHODFXಢ
ELHUWDGHOSLVR
*XDUGDUODUXHGDGHWDPDâR
QRUPDOVXVWLWXLGDHQODFDYLGDGGH
ODUXHGDGHUHSXHVWR
/DUXHGDGHUHSXHVWRHVWÒVLWXDGDHQ
HOFRPSDUWLPHQWRGHFDUJDGHEDMRGH
ODFXELHUWDGHOSLVR
3DUDGHVPRQWDUOD
$EUDODFXELHUWDGHOSLVR
/DUXHGDGHUHSXHVWRHVWÒILMDGD
FRQXQDWXHUFDGHPDULSRVD*LUH
ODWXHUFDGHPDULSRVDHQVHQWLGR
DQWLKRUDULR\GHVPRQWHODUXHGD
GHUHSXHVWR
(OKXHFRGHODUXHGDGHUHSXHVWRQR
HVWÒGLVHâDGRSDUDWRGRVORVWDPDಢ
âRVGHQHXPÒWLFRVSHUPLWLGRV6L
GHEHJXDUGDUVHXQDUXHGDPÒVDQಢ
FKDTXHODGHUHSXHVWRHQODFDYLGDG
GHODUXHGDGHUHSXHVWRGHEHVXVWLಢ
WXLUVHHOWRUQLOORSDUDPRQWDUODUXHGD
SRUXQRPÒVODUJRLQFOXLGRHQODFDMD
GHKHUUDPLHQWDV3DUDVXVWLWXLU
HOWRUQLOOR
ထ 5HWLUHODFDMDGHKHUUDPLHQWDVGH
ODFDYLGDGGHODUXHGDGHUHಢ
SXHVWR
&XLGDGRGHOYHKÞFXOR
$GYHUWHQFLD
ထ
ထ
ထ
0RQWHODOODYHKH[DJRQDOGHOD
OODYHSDUDUXHGDVDVHJëUHVHGH
TXHHQFDMHELHQHQHOWRUQLOOR
*LUHODOODYHSDUDUXHGDVHQVHQಢ
WLGRDQWLKRUDULRSDUDDIORMDUHOWRUಢ
QLOOR'HVPRQWHHOWRUQLOOR
6DTXHHOWRUQLOORODUJRGHODFDMD
GHKHUUDPLHQWDV\HQUäVಢ
TXHORDPDQRXVDQGRODOODYHKHಢ
[DJRQDOGHODOODYHSDUDUXHGDV
ထ
*XDUGHODFDMDGHKHUUDPLHQWDV\
ODUXHGDSLQFKDGDFRQHOODGRH[ಢ
WHULRUKDFLDDUULEDHQODFDYLGDG
GHODUXHGDGHUHSXHVWR\DVHJëಢ
UHODJLUDQGRODWXHUFDGHPDULಢ
SRVDHQVHQWLGRKRUDULRVREUHHO
WRUQLOOR
/DFXELHUWDGHOSLVRVHSXHGHFRORFDU
VREUHODUXHGDDXQTXHVREUHVDOJD
3DUDJXDUGDUODUXHGDGHUHSXHVWRHQ
ODFDYLGDGGHVSXÚVGHUHSDUDUOD
UXHGDGHIHFWXRVDXWLOLFHGHQXHYRHO
SHUQRURVFDGRFRUWR&DPELHHOWRUQLಢ
OORVLJXLHQGRHOPLVPRSURFHGLPLHQWR
6LJXDUGDXQJDWRXQDUXHGDX
RWURREMHWRHQHOFRPSDUWLPHQWR
GHFDUJDVLQTXHHVWÚQELHQVXMHಢ
WRVVHSRGUÞDQSURGXFLUOHVLRQHV
(QFDVRGHXQIUHQD]RUHSHQWLQRR
XQDFROLVLäQORVREMHWRVVXHOWRV
SRGUÞDQJROSHDUDDOJXLHQ
*XDUGHVLHPSUHODUXHGDHOJDWR
\ODVKHUUDPLHQWDVHQVXVDORMDಢ
PLHQWRVUHVSHFWLYRV\IÞMHORVGHELಢ
GDPHQWH
5XHGDGHHPHUJHQFLD
$WHQFLäQ
(OXVRGHXQDUXHGDGHUHSXHVWR
GHPHQRUWDPDâRTXHODVGHPÒV
UXHGDVRMXQWRFRQQHXPÒWLFRVGH
LQYLHUQRSXHGHDIHFWDUDOFRPSRUಢ
WDPLHQWRGHPDUFKD+DJDVXVWLಢ
WXLUHOQHXPÒWLFRDYHULDGRORDQWHV
SRVLEOH
&XLGDGRGHOYHKÞFXOR
6äORGHEHPRQWDUVHXQDUXHGDGH
HPHUJHQFLD1RFRQGX]FDDPÒVGH
NPK7RPHODVFXUYDVGHVSDFLR
1RXWLOLFHODUXHGDGXUDQWHXQSHUÞRGR
GHWLHPSRSURORQJDGR
6LVHSLQFKDXQDUXHGDGHVXDXWRಢ
PäYLOPLHQWUDVUHPROFDRWURYHKÞFXOR
PRQWHODUXHGDGHHPHUJHQFLDHQHO
HMHGHODQWHUR\XQDUXHGDQRUPDOHQ
HOHMHWUDVHUR
&DGHQDVSDUDQLHYH
5XHGDGHUHSXHVWRFRQ
QHXPÒWLFRGLUHFFLRQDO
/RVQHXPÒWLFRVFRQGLUHFFLäQGHURಢ
GDGXUDGHEHQPRQWDUVHSDUDTXH
UXHGHQHQHOVHQWLGRGHPDUFKD/D
GLUHFFLäQGHURGDGXUDVHLQGLFDPHಢ
GLDQWHXQVÞPERORSHMXQDIOHFKD
HQHOIODQFR
6LODVUXHGDVVHPRQWDQHQVHQWLGR
FRQWUDULRDODGLUHFFLäQGHURGDGXUD
ထ 3XHGHYHUVHDIHFWDGRHOFRPSRUಢ
WDPLHQWRGHPDUFKD5HQXHYHR
UHSDUHHOQHXPÒWLFRGHIHFWXRVR
ORDQWHVSRVLEOH\FROäTXHORHQ
YH]GHODUXHGDGHUHSXHVWR
ထ 6HGHEHFRQGXFLUFRQPXFKD
SUHFDXFLäQHQFDVRGHOOXYLD\
QLHYH
$UUDQTXHFRQFDEOHV
1RDUUDQTXHFRQFDUJDGRUHVUÒSLGRV
8QYHKÞFXORFRQODEDWHUÞDGHOYHಢ
KÞFXORGHVFDUJDGDSXHGHSRQHUVHHQ
PDUFKDFRQFDEOHVDX[LOLDUHVGH
DUUDQTXH\ODEDWHUÞDGHRWURYHKÞFXOR
$GYHUWHQFLD
7HQJDPXFKRFXLGDGRFXDQGR
DUUDQTXHFRQFDEOHVDX[LOLDUHV
&XDOTXLHUGHVYLDFLäQGHODVLQVಢ
WUXFFLRQHVVLJXLHQWHVSXHGHRFDಢ
VLRQDUOHVLRQHVRGDâRVPDWHULDಢ
OHVRFDVLRQDGRVSRUODH[SORVLäQ
GHODEDWHUÞDRGDâRVHQORVVLVWHಢ
PDVHOÚFWULFRVGHDPERVYHKÞFXಢ
ORV
$GYHUWHQFLD
(YLWHHOFRQWDFWRGHODEDWHUÞDFRQ
ORVRMRVODSLHOODURSD\ODVVXಢ
SHUILFLHVSLQWDGDV(OOÞTXLGRFRQಢ
WLHQHÒFLGRVXOIëULFRTXHSXHGH
&XLGDGRGHOYHKÞFXOR
RFDVLRQDUOHVLRQHV\GDâRVHQ
FDVRGHFRQWDFWRGLUHFWRFRQHO
PLVPR
ထ
ထ
ထ
ထ
ထ
ထ
ထ
1RH[SRQJDODEDWHUÞDGHOYHಢ
KÞFXORDOODPDVGHVFXELHUWDVR
FKLVSDV
8QDEDWHUÞDGHOYHKÞFXORGHVFDUಢ
JDGDSXHGHKHODUVHDWHPSHUDಢ
WXUDVSUä[LPDVD¡&'HVFRQಢ
JHOHODEDWHUÞDDQWHVGHFRQHFWDU
ORVFDEOHVDX[LOLDUHVGHDUUDQಢ
TXH
/OHYHJDIDV\URSDGHSURWHFFLäQ
FXDQGRPDQLSXOHXQDEDWHUÞD
8WLOLFHXQDEDWHUÞDDX[LOLDUGHOD
PLVPDWHQVLäQYROWLRV6X
FDSDFLGDG$KQRGHEHVHUPX\
LQIHULRUDODGHODEDWHUÞDGHOYHಢ
KÞFXORGHVFDUJDGD
8WLOLFHFDEOHVDX[LOLDUHVGHDUUDQಢ
TXHFRQERUQHVDLVODGRV\XQD
VHFFLäQPÞQLPDGHPPHQ
PRWRUHVGLÚVHOGHPP
1RGHVFRQHFWHODEDWHUÞDGHOYHಢ
KÞFXORGHVFDUJDGD
'HVFRQHFWHWRGRVORVFRQVXPLಢ
GRUHVHOÚFWULFRVLQQHFHVDULRV
ထ
ထ
ထ
ထ
ထ
1RVHDSR\HVREUHODEDWHUÞDGHO
YHKÞFXORGXUDQWHHODUUDQTXHFRQ
ORVFDEOHVDX[LOLDUHV
1RGHMHTXHORVERUQHVGHXQFDಢ
EOHWRTXHQORVGHORWURFDEOH
/RVYHKÞFXORVQRGHEHQHQWUDUHQ
FRQWDFWRGXUDQWHHOSURFHVRGH
DUUDQTXHFRQFDEOHV
$FFLRQHHOIUHQRGHHVWDFLRQDಢ
PLHQWRFDPELRPDQXDOHQSXQWR
PXHUWRFDPELRDXWRPÒWLFRHQ3
3
6LODEDWHUÞDGHOYHKÞFXORWLHQH
FXELHUWDUHWÞUHODSDUDFDUJDUODR
DUUDQTXHFRQSXHQWHODEDWHUÞD
ထ
GHOYHKÞFXOR(OHYHODWDSDHQOD
SDUWHWUDVHUD\VXHOWHSRUODSDUWH
GHODQWHUD
$EUDODVWDSDVGHSURWHFFLäQGHO
ERUQHSRVLWLYRGHODVGRVEDWHಢ
UÞDVGHOYHKÞFXOR
&RQHFWHORVFDEOHVHQHOVLJXLHQWHRUಢ
GHQ
&RQHFWHHOFDEOHURMRDOERUQHSRಢ
VLWLYRGHODEDWHUÞDDX[LOLDU
&RQHFWHHORWURH[WUHPRGHOFDEOH
URMRDOERUQHSRVLWLYRGHODEDWHUÞD
GHVFDUJDGD
&XLGDGRGHOYHKÞFXOR
&RQHFWHHOFDEOHQHJURDOERUQH
QHJDWLYRGHODEDWHUÞDDX[LOLDU
&RQHFWHHORWURH[WUHPRGHOFDEOH
QHJURDXQSXQWRGHPDVDGHOYHಢ
KÞFXORFRPRHOEORTXHGHOPRWRU
RXQWRUQLOORGHPRQWDMHGHOPRWRU
&RQÚFWHORORPÒVOHMRVSRVLEOHGH
ODEDWHUÞDGHVFDUJDGDFRPRPÞಢ
QLPRDFP
&RORTXHORVFDEOHVGHIRUPDTXHQR
SXHGDQHQJDQFKDUVHHQSLH]DVJLUDಢ
WRULDVGHOFRPSDUWLPHQWRGHOPRWRU
3DUDDUUDQFDUHOPRWRU
$UUDQTXHHOPRWRUGHOYHKÞFXOR
TXHVXPLQLVWUDODFRUULHQWH
$UUDQTXHHORWURPRWRUXQRV
PLQXWRVGHVSXÚV/RVLQWHQWRV
GHDUUDQTXHVHGHEHQUHDOL]DUHQ
LQWHUYDORVGHPLQXWR\QRGHEHQ
GXUDUPÒVGHVHJXQGRV
'HMHHQPDUFKDORVGRVPRWRUHV
DOUDOHQWÞGXUDQWHXQRVPLQXWRV
FRQORVFDEOHVFRQHFWDGRV
&RQHFWHXQFRQVXPLGRUHOÚFWULFR
SRUHMHPSORORVIDURVRODOXQHWD
WÚUPLFDWUDVHUDHQHOYHKÞFXOR
TXHUHFLEHFRUULHQWH
,QYLHUWDH[DFWDPHQWHHORUGHQDQಢ
WHULRUSDUDGHVFRQHFWDUORVFDಢ
EOHV
5HPROFDGR
5HPROFDGRGHOYHKÞFXOR
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV6SRUWV7RXUHUVXHOWHHOWDಢ
SäQHQODSDUWHLQIHULRU\UHWLUHKDFLD
DEDMR
&XLGDGRGHOYHKÞFXOR
&RXQWU\7RXUHULQWURGX]FDXQGHVWRUಢ
QLOODGRUHQODUDQXUDGHOERUGHLQIHULRU
GHODWDSD6XHOWHODWDSDPRYLHQGR
FXLGDGRVDPHQWHHOGHVWRUQLOODGRUKDಢ
FLDDEDMR3DUDHYLWDUGDâRVVHUHFRಢ
PLHQGDFRORFDUXQSDâRVXDYHHQWUH
HOGHVWRUQLOODGRU\HOPDUFR
23&LQVHUWHXQGHVWRUQLOODGRUHQOD
UDQXUDGHODFXUYDWXUDVXSHULRUGHOD
WDSD6XHOWHODWDSDPRYLHQGRFXLGDಢ
GRVDPHQWHHOGHVWRUQLOODGRUKDFLD
DEDMR3DUDHYLWDUGDâRVVHUHFRಢ
PLHQGDFRORFDUXQSDâRVXDYHHQWUH
HOGHVWRUQLOODGRU\HOPDUFR
/DDUJROODGHUHPROTXHVHJXDUGDFRQ
ODVKHUUDPLHQWDVGHOYHKÞFXOR
(QURVTXHODDUJROODGHUHPROTXHWRGR
ORSRVLEOHKDVWDTXHTXHGHHQSRVLಢ
FLäQKRUL]RQWDO
)LMHXQFDEOHGHUHPROTXHಥRPHMRU
XQDEDUUDGHUHPROTXHಥDODDUJROOD
/DDUJROODGHUHPROTXHVäORGHEHXWLಢ
OL]DUVHSDUDUHPROFDU\QRSDUDHOUHVಢ
FDWHGHOYHKÞFXOR
&RQHFWHHOHQFHQGLGRSDUDGHVEORಢ
TXHDUHOYRODQWH\SDUDTXHIXQFLRQHQ
ODVOXFHVGHIUHQRODERFLQD\ORVOLPಢ
SLDSDUDEULVDV
&DPELRHQSXQWRPXHUWR
&XLGDGRGHOYHKÞFXOR
$WHQFLäQ
&RQGX]FDGHVSDFLR(YLWHORVWLURಢ
QHV/DVIXHU]DVGHWUDFFLäQH[FHಢ
VLYDVSRGUÞDQGDâDUHOYHKÞFXOR
6LHOPRWRUQRHVWÒHQPDUFKDVHUHಢ
TXLHUHPXFKDPÒVIXHU]DSDUDIUHQDU
\GLULJLUHOYHKÞFXOR
3DUDHYLWDUTXHHQWUHKXPRGHOHVಢ
FDSHGHOYHKÞFXORWUDFWRUFRQHFWHHO
VLVWHPDGHUHFLUFXODFLäQGHDLUH\FLHಢ
UUHODVYHQWDQLOODV
9HKÞFXORVFRQFDPELRPDQXDO\WUDFಢ
FLäQWRWDO6LVHUHPROFDHOYHKÞFXOR
FRQODVFXDWURUXHGDVHQHOVXHORQR
KD\OLPLWDFLRQHVWÚFQLFDVUHVSHFWRD
YHORFLGDG\GLVWDQFLD6LVäORVHKD
OHYDQWDGRXQHMHODYHORFLGDGPÒಢ
[LPDVHUÒNPK1RKD\OLPLWDFLäQ
GHGLVWDQFLD
9HKÞFXORVFRQFDPELRDXWRPÒWLFR\
WUDFFLäQGHODQWHUD(OYHKÞFXORGHEH
UHPROFDUVHKDFLDDGHODQWHVLQVXSHಢ
UDUXQDYHORFLGDGGHNPKQLXQ
UHFRUULGRGHNP(QWRGRVORVGHಢ
PÒVFDVRVRVLHOFDPELRHVWÒDYHಢ
ULDGRHOHMHGHODQWHURGHEHOHYDQಢ
WDUVHGHOVXHOR
9HKÞFXORVFRQFDPELRDXWRPÒWLFR\
WUDFFLäQWRWDO(OYHKÞFXORGHEHUHPROಢ
FDUVHKDFLDDGHODQWH6LVHUHPROFD
HOYHKÞFXORFRQODVFXDWURUXHGDVHQ
HOVXHORODYHORFLGDGPÒ[LPDVHUÒGH
NPK\HOUHFRUULGRPÒ[LPRGH
NP6LVäORVHKDOHYDQWDGRXQHMH
ODYHORFLGDGPÒ[LPDVHUÒGH
NPK1RKD\OLPLWDFLäQGHGLVWDQಢ
FLD
5HFXUUDDODD\XGDGHXQWDOOHU
7UDVHOUHPROFDGRGHVHQURVTXHOD
DUJROODGHUHPROTXH
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV6SRUWV7RXUHULQVHUWHHO
WDSäQHQODSDUWHLQIHULRUJLUHOLJHUDಢ
PHQWHKDFLDODGHUHFKD\FLHUUHHOWDಢ
SäQ
&RXQWU\7RXUHULQVHUWHHOWDSäQFRQ
ODEULGDVXSHULRUHQHOKXHFR\HPSXMH
HOWDSäQSDUDHQFDMDUOR
23&LQVHUWHODWDSDFRQODEULGDLQಢ
IHULRUHQHOKXHFR3UHVLRQHHOWDSäQ
DSUHVLäQHQHOSDUDFKRTXHV
5HPROFDGRGHRWURYHKÞFXOR
&XLGDGRGHOYHKÞFXOR
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV6SRUWV7RXUHU23&VXHOWH
HOWDSäQHQODSDUWHLQIHULRU\UHWLUH
KDFLDDEDMR
$WHQFLäQ
&RQGX]FDGHVSDFLR(YLWHORVWLURಢ
QHV/DVIXHU]DVGHWUDFFLäQH[FHಢ
VLYDVSRGUÞDQGDâDUHOYHKÞFXOR
7UDVHOUHPROFDGRGHVHQURVTXHOD
DUJROODGHUHPROTXH
&RXQWU\7RXUHULQWURGX]FDXQGHVWRUಢ
QLOODGRUHQODUDQXUDGHOERUGHLQIHULRU
GHODWDSD6XHOWHODWDSDPRYLHQGR
FXLGDGRVDPHQWHHOGHVWRUQLOODGRUKDಢ
FLDDEDMR3DUDHYLWDUGDâRVVHUHFRಢ
PLHQGDFRORFDUXQSDâRVXDYHHQWUH
HOGHVWRUQLOODGRU\HOPDUFR
/DDUJROODGHUHPROTXHVHJXDUGDFRQ
ODVKHUUDPLHQWDVGHOYHKÞFXOR
(QURVTXHODDUJROODGHUHPROTXHWRGR
ORSRVLEOHKDVWDTXHTXHGHHQSRVLಢ
FLäQKRUL]RQWDO
/DDUJROODGHVXMHFLäQH[LVWHQWHHQOD
SDUWHLQIHULRUWUDVHUDGHOYHKÞFXOR
QXQFDGHEHHPSOHDUVHFRPRDUJROOD
GHUHPROTXH
)LMHXQFDEOHGHUHPROTXHಥRPHMRU
XQDEDUUDGHUHPROTXHಥDODDUJROOD
/DDUJROODGHUHPROTXHVäORGHEHXWLಢ
OL]DUVHSDUDUHPROFDU\QRSDUDHOUHVಢ
FDWHGHRWURYHKÞFXOR
9HUVLäQGHSXHUWDVVHGÒQGH
SXHUWDV6SRUWV7RXUHU23&LQಢ
VHUWHHOWDSäQHQODSDUWHLQIHULRUJLUH
OLJHUDPHQWHKDFLDODGHUHFKD\DFRಢ
SOHHOWDSäQ
&RXQWU\7RXUHULQVHUWHHOWDSäQFRQ
ODEULGDVXSHULRUHQHOKXHFR\HPSXMH
HOWDSäQSDUDHQFDMDUOR
&XLGDGRGHOYHKÞFXOR
&XLGDGRGHODVSHFWR
&XLGDGRH[WHULRU
&HUUDGXUDV
/DVFHUUDGXUDVVHOXEULFDQHQIÒEULFD
FRQXQDJUDVDGHDOWDFDOLGDGSDUDFLಢ
OLQGURVGHFHUUDGXUD8WLOLFHXQSURಢ
GXFWRGHVFRQJHODQWHVäORHQXQFDVR
DEVROXWDPHQWHQHFHVDULRSXHVVX
HIHFWRGHVHQJUDVDQWHSHUMXGLFDHO
IXQFLRQDPLHQWRGHODVFHUUDGXUDV
'HVSXÚVGHXVDUXQSURGXFWRGHVಢ
FRQJHODQWHKDJDHQJUDVDUODVFHUUDಢ
GXUDVHQXQWDOOHU
/DYDGR
/DSLQWXUDGHOYHKÞFXORHVWÒH[SXHVWD
DODVLQIOXHQFLDVDPELHQWDOHV/DYH\
HQFHUHHOYHKÞFXORFRQUHJXODULGDG6L
XWLOL]DWëQHOHVGHODYDGRDXWRPÒWLFR
VHOHFFLRQHXQSURJUDPDTXHLQFOX\D
ODDSOLFDFLäQGHFHUD
/RVH[FUHPHQWRVGHDYHVORVLQVHFಢ
WRVPXHUWRVODUHVLQDHOSROHQHWF
VHGHEHQOLPSLDUORDQWHVSRVLEOH\D
TXHFRQWLHQHQFRPSRQHQWHVDJUHVLಢ
YRV\SXHGHQGDâDUODSLQWXUD
6LXWLOL]DXQWëQHOGHODYDGRFXPSOD
ODVLQVWUXFFLRQHVGHOIDEULFDQWH/RV
OLPSLDSDUDEULVDV\HOOLPSLDOXQHWDGHಢ
EHQHVWDUGHVFRQHFWDGRV'HVPRQWH
ODDQWHQD\DFFHVRULRVH[WHUQRVFRPR
SRUWDHTXLSDMHVGHWHFKRHWF
6LVHODYDHOYHKÞFXORDPDQRGHEHQ
HQMXDJDUVHELHQODV]RQDVLQWHULRUHV
GHORVSDVDUUXHGDV
$SOLTXHFHUDDODVSDUWHVSLQWDGDVGHO
YHKÞFXORFRQUHJXODULGDG
/LPSLHWDPELÚQORVUHERUGHVLQWHULRಢ
UHV\ORVSOLHJXHVHQODVSXHUWDV\HO
FDSäDELHUWRVDVÞFRPRODV]RQDVGH
ODFDUURFHUÞDFXELHUWDVSRUORVPLVಢ
PRV
/LPSLHODVPROGXUDVPHWÒOLFDVEULOODQಢ
WHVFRQXQDVROXFLäQGHOLPSLH]DKRಢ
PRORJDGDSDUDDOXPLQLRSDUDHYLWDU
GDâRV
$WHQFLäQ
8WLOLFHVLHPSUHXQSURGXFWROLPಢ
SLDGRUFRQXQS+HQWUH
FXDWUR\QXHYH
1RXWLOLFHSURGXFWRVOLPSLDGRUHV
VREUHVXSHUILFLHVFDOLHQWHV
1ROLPSLHHOFRPSDUWLPHQWRGHOPRWRU
FRQFKRUURGHYDSRURDSDUDWRVGH
DOWDSUHVLäQ
(QMXDJXHELHQHOYHKÞFXOR\IUäWHOR
FRQXQDJDPX]D(QMXDJXHODJDಢ
PX]DFRQIUHFXHQFLD8WLOLFHJDPXಢ
]DVGLVWLQWDVSDUDODVVXSHUILFLHVSLQಢ
WDGDV\SDUDORVFULVWDOHVORVUHVWRV
GHFHUDHQORVFULVWDOHVGLILFXOWDQOD
YLVLELOLGDG
+DJDHQJUDVDUODVELVDJUDVGHWRGDV
ODVSXHUWDVHQXQWDOOHU
1RXWLOLFHREMHWRVGXURVSDUDHOLPLQDU
PDQFKDVGHDOTXLWUÒQ8WLOLFHVSUD\
SDUDHOLPLQDUDOTXLWUÒQGHODVVXSHUILಢ
FLHVSLQWDGDV
/XFHVH[WHULRUHV
/DVWDSDVGHORVIDURV\GHRWUDVOXFHV
VRQGHSOÒVWLFR1RXWLOLFHSURGXFWRV
DEUDVLYRVRFÒXVWLFRVQRXWLOLFHXQ
UDVFDGRUGHKLHORQLORVOLPSLHHQ
VHFR
&XLGDGRGHOYHKÞFXOR
$EULOODQWDGR\HQFHUDGR
(QFHUHHOYHKÞFXORFRQUHJXODULGDGD
PÒVWDUGDUFXDQGRHODJXDQRUHVಢ
EDOHIRUPDQGRSHUODV(QFDVRFRQಢ
WUDULRODSLQWXUDVHUHVHFD
6äORHVQHFHVDULRDEULOODQWDUODSLQಢ
WXUDVLÚVWDWLHQHDGKHULGDVVXVWDQಢ
FLDVVäOLGDVRVLVHKDSXHVWRPDWH\
WLHQHPDODVSHFWR
(ODEULOODQWDGRFRQVLOLFRQDIRUPDXQD
SHOÞFXODSURWHFWRUDFRQORTXHQRHV
QHFHVDULRHQFHUDU
/DVSDUWHVGHSOÒVWLFRGHODFDUURFHಢ
UÞDQRVHGHEHQWUDWDUFRQFHUDQLDEULಢ
OODQWDGRUHV
&ULVWDOHVGHYHQWDQLOODV\
HVFRELOODVGHORVOLPSLDSDUDEULVDV
8WLOLFHXQSDâRVXDYHTXHQRVXHOWH
SHOXVDVRXQDJDPX]DFRQOLPSLDFULVಢ
WDOHV\TXLWDLQVHFWRV
$OOLPSLDUODYHQWDQLOODWUDVHUDGHVGH
HOLQWHULRUOLPSLHVLHPSUHHQSDUDOHOR
DOHOHPHQWRFDOHIDFWDQWHSDUDHYLWDU
GDâRV
3DUDUHWLUDUHOKLHORPDQXDOPHQWHVH
GHEHXWLOL]DUXQUDVFDGRUGHKLHORGH
ILORDJXGR3UHVLRQHHOUDVFDGRUILUಢ
PHPHQWHFRQWUDHOFULVWDOSDUDTXHQR
TXHGHVXFLHGDGGHEDMRGHOPLVPR
TXHSXHGDUD\DUHOFULVWDO
6LODVHVFRELOODVGHMDQUDVWURVSXHಢ
GHQOLPSLDUVHFRQXQSDâRVXDYH\
OLPSLDFULVWDOHV
(OLPLQHORVUHVWRVGHVXFLHGDGGHODV
HVFRELOODVGHORVOLPSLDSDUDEULVDV
PDQFKDGDVFRQD\XGDGHXQOLPSLDಢ
GRUGHYHQWDQDV\XQSDâR$VHJëಢ
UHVHWDPELÚQGHHOLPLQDUFXDOTXLHU
UHVWRFRPRFHUDUHVWRVGHLQVHFWRV\
VLPLODUHVGHODYHQWDQD
/RVUHVWRVGHKLHORODFRQWDPLQDFLäQ
\HOXVRFRQWLQXRGHOOLPSLDSDUDEULVDV
FRQORVFULVWDOHVVHFRVGDâDUÒQRLQಢ
FOXVRGHVWUXLUÒQODVHVFRELOODV
7HFKRVRODU
1XQFDVHGHEHOLPSLDUFRQGLVROYHQಢ
WHVRSURGXFWRVDEUDVLYRVFRPEXVWLಢ
EOHVSURGXFWRVDJUHVLYRVFRPR
DJXDUUÒVVROXFLRQHVTXHFRQWHQJDQ
DFHWRQDHWFSURGXFWRVÒFLGRVR
PX\DOFDOLQRVQLFRQHVSRQMDVDEUDಢ
VLYDV1RDSOLTXHFHUDQLDEULOODQWDಢ
GRUHVHQHOWHFKRVRODU
5XHGDV\QHXPÒWLFRV
1RXVHHTXLSRVGHOLPSLH]DDDOWD
SUHVLäQ
/LPSLHODVOODQWDVFRQXQOLPSLDGRUGH
OODQWDVGHS+QHXWUR
/DVOODQWDVHVWÒQSLQWDGDV\SXHGHQ
WUDWDUVHFRQORVPLVPRVSURGXFWRV
TXHODFDUURFHUÞD
'DâRVHQODSLQWXUD
5HSDUHORVSHTXHâRVGHVSHUIHFWRV
HQODSLQWXUDFRQURWXODGRUGHUHWRTXH
DQWHVGHTXHVHIRUPHä[LGR$FXGD
DXQWDOOHUVLKD\GDâRVPD\RUHVHQOD
SLQWXUDR]RQDVR[LGDGDV
&XLGDGRGHOYHKÞFXOR
%DMRVGHOYHKÞFXOR
$OJXQDV]RQDVGHORVEDMRVGHOYHಢ
KÞFXORWLHQHQXQDFDSDSURWHFWRUDGH
39&\RWUDV]RQDVPÒVGHOLFDGDVWLHಢ
QHQXQDFDSDGHFHUDSURWHFWRUDGXಢ
UDGHUD
&RPSUXHEHORVEDMRVGHOYHKÞFXOR
GHVSXÚVGHOODYDGR\HQFDVRQHFHಢ
VDULRKÒJDORHQFHUDU
/RVSURGXFWRVDEDVHGHEHWëQ\FDXಢ
FKRSXHGHQGDâDUODFDSDGH39&
+DJDUHDOL]DUORVWUDEDMRVUHODFLRQDಢ
GRVFRQORVEDMRVHQXQWDOOHU
6HUHFRPLHQGDODYDUORVEDMRVDQWHV
\GHVSXÚVGHOLQYLHUQR\UHYLVDUOD
FDSDGHFHUDSURWHFWRUD
6LVWHPDGHJDVOLFXDGR
3HOLJUR
(OJDVOLFXDGRHVPÒVSHVDGRTXH
HODLUH\VHSXHGHDFXPXODUHQ
KRQGRQDGDV
7HQJDFXLGDGRFXDQGRUHDOLFHWUDಢ
EDMRVHQORVEDMRVGHOYHKÞFXOR
GHVGHXQIRVR
(QFDVRGHWUDEDMRVGHSLQWXUDTXH
UHTXLHUDQHOXVRGHXQDFDELQDGHVHಢ
FDGRFRQXQDWHPSHUDWXUDVXSHULRUD
¡&GHEHGHVPRQWDUVHHOGHSäVLWR
GHJDVOLFXDGR
1RUHDOLFHQLQJXQDPRGLILFDFLäQHQHO
VLVWHPDGHJDVOLFXDGR
'LVSRVLWLYRGHUHPROTXH
1ROLPSLHODEDUUDGHUäWXODFRQFKRUUR
GHYDSRURDSDUDWRVGHDOWDSUHVLäQ
&XLGDGRLQWHULRU
+DELWÒFXOR\WDSLFHUÞD
(OLQWHULRUGHOYHKÞFXORLQFOXLGRHOVDOಢ
SLFDGHUR\ORVUHYHVWLPLHQWRVVäOR
GHEHOLPSLDUVHFRQXQSDâRVHFRR
FRQSURGXFWRSDUDOLPSLH]DGHLQWHಢ
ULRUHV
/LPSLHODWDSLFHUÞDGHFXHURFRQDJXD
FODUD\XQSDâRVXDYH6LHVWÒPX\
VXFLDXWLOLFHXQSURGXFWRSDUDHOFXLಢ
GDGRGHOFXHUR
(OFXDGURGHLQVWUXPHQWRV\ODVSDQಢ
WDOODVVRODPHQWHGHEHQOLPSLDUVHFRQ
XQSDâRVXDYHKëPHGR6LHVQHFHಢ
VDULRXWLOLFHXQDVROXFLäQMDERQRVD
VXDYH
/LPSLHODWDSLFHUÞDFRQXQDDVSLUDಢ
GRUD\XQFHSLOOR(OLPLQHODVPDQಢ
FKDVFRQXQOLPSLDGRUSDUDWDSLFHಢ
UÞDV
/RVWHMLGRVGHODURSDSXHGHQGHVWHಢ
âLU(VWRSRGUÞDRFDVLRQDUGHFRORUDಢ
FLRQHVYLVLEOHVHVSHFLDOPHQWHHQODV
WDSLFHUÞDVGHFRORUHVFODURV/DV
PDQFKDV\GHFRORUDFLRQHVGHEHUÞDQ
OLPSLDUVHORDQWHVSRVLEOH
/LPSLHORVFLQWXURQHVGHVHJXULGDG
FRQDJXDWHPSODGDROLPSLDGRUSDUD
LQWHULRUHV
&XLGDGRGHOYHKÞFXOR
$WHQFLäQ
&LHUUHODVILMDFLRQHVGHYHOFUR\D
TXHORVFLHUUHVGHYHOFURDELHUWRV
GHODURSDSXHGHQGDâDUHOWDSLಢ
]DGRGHORVDVLHQWRV
/RPLVPRHVDSOLFDEOHDODURSD
FRQREMHWRVGHERUGHVDILODGRV
FRPRFUHPDOOHUDVRSDQWDORQHV
YDTXHURVFRQWDFKXHODV
3LH]DVGHSOÒVWLFR\GHJRPD
/DVSLH]DVGHSOÒVWLFR\JRPDSXHಢ
GHQOLPSLDUVHFRQORVPLVPRVSURGXFಢ
WRVTXHODFDUURFHUÞD(QFDVRQHFHಢ
VDULRXWLOLFHXQOLPSLDGRUSDUDLQWHULRಢ
UHV1RXVHQLQJëQRWURSURGXFWR
(YLWHHVSHFLDOPHQWHHOXVRGHGLVROಢ
YHQWHV\JDVROLQD1RXVHHTXLSRVGH
OLPSLH]DDDOWDSUHVLäQ
6HUYLFLR\PDQWHQLPLHQWR
6HUYLFLR\
PDQWHQLPLHQWR
,QIRUPDFLäQJHQHUDO ,QIRUPDFLäQGHVHUYLFLR 3LH]DVOÞTXLGRV\OXEULFDQWHVUHಢ
FRPHQGDGRV /ÞTXLGRV\OXEULFDQWHV
UHFRPHQGDGRV ,QIRUPDFLäQJHQHUDO
,QIRUPDFLäQGHVHUYLFLR
3DUDJDUDQWL]DUODVHJXULGDG\ODHFRಢ
QRPÞDGHIXQFLRQDPLHQWRGHOYHಢ
KÞFXORDVÞFRPRSDUDPDQWHQHUVX
YDORUHVGHYLWDOLPSRUWDQFLDUHDOL]DU
WRGRVORVWUDEDMRVGHPDQWHQLPLHQWR
HQORVLQWHUYDORVFRUUHFWRVVHJëQOR
HVSHFLILFDGR
(QFRQWUDUÒXQSODQGHPDQWHQLPLHQWR
DFWXDOL]DGR\GHWDOODGRSDUDVXYHಢ
KÞFXORHQVXWDOOHU
,QGLFDFLäQGHVHUYLFLR
,QWHUYDORVGHVHUYLFLRSDUDHO
PHUFDGRHXURSHR
6XYHKÞFXORUHTXLHUHPDQWHQLPLHQWR
FDGDNPRGHVSXÚVGHDâR
ORTXHRFXUUDDQWHVVDOYRLQGLFDFLäQ
HQFRQWUDULRGHODLQGLFDFLäQGHVHUಢ
YLFLR
3DUDFRPSRUWDPLHQWRVGHFRQGXFಢ
FLäQVHYHURVSRUHMHPSORSDUDWD[LV
\YHKÞFXORVGHSROLFÞDSXHGHVHUYÒಢ
OLGRXQLQWHUYDORGHVHUYLFLRPÒV
FRUWR
/RVLQWHUYDORVGHVHUYLFLRHXURSHRV
VRQYÒOLGRVSDUDORVVLJXLHQWHVSDÞಢ
VHV
$OHPDQLD$QGRUUD$XVWULD%ÚOJLFD
%RVQLD+HU]HJRYLQD%XOJDULD&KLಢ
SUH&URDFLD'LQDPDUFD(VORYDTXLD
(VORYHQLD(VSDâD(VWRQLD)LQODQಢ
GLD)UDQFLD*UHFLD*URHQODQGLD
+XQJUÞD,UODQGD,VODQGLD,WDOLD/Hಢ
WRQLD/LHFKWHQVWHLQ/LWXDQLD/X[HPಢ
EXUJR0DFHGRQLD0DOWD0äQDFR
0RQWHQHJUR1RUXHJD3DÞVHV%DMRV
3RORQLD3RUWXJDO5HLQR8QLGR5Hಢ
SëEOLFD&KHFD5XPDQÞD6DQ0Dಢ
ULQR6HUELD6XHFLD6XL]D
,QGLFDFLäQGHVHUYLFLR
,QWHUYDORVGHVHUYLFLRSDUDHO
PHUFDGRLQWHUQDFLRQDO
6XYHKÞFXORUHTXLHUHPDQWHQLPLHQWR
FDGDNPRGHVSXÚVGHDâR
ORTXHRFXUUDDQWHVVDOYRLQGLFDFLäQ
HQFRQWUDULRGHODLQGLFDFLäQGHVHUಢ
YLFLR
/RVLQWHUYDORVGHVHUYLFLRLQWHUQDFLRಢ
QDOHVVRQDSOLFDEOHVDWRGRVORVSDÞಢ
VHVQRUHODFLRQDGRVHQORVLQWHUYDORV
GHVHUYLFLRSDUDHOPHUFDGRHXURSHR
6HUYLFLR\PDQWHQLPLHQWR
,QGLFDFLäQGHVHUYLFLR
&RQILUPDFLRQHV
/DFRQILUPDFLäQGHOVHUYLFLRUHDOL]DGR
GHEHUHJLVWUDUVHHQHO0DQXDOGH6HUಢ
YLFLR\*DUDQWÞD/DLQGLFDFLäQGHOD
IHFKD\HONLORPHWUDMHVHFRPSOHWD
FRQHOVHOOR\ODILUPDGHOWDOOHUTXH
HIHFWëDHOVHUYLFLR
$VHJëUHVHGHTXHHO0DQXDOGH6HUಢ
YLFLR\*DUDQWÞDVHUHOOHQHVLHPSUH
FRUUHFWDPHQWHFRPRSUXHEDGHXQ
VHUYLFLRFRQWLQXDGRQHFHVDULRHQ
FDVRGHUHFODPDFLRQHVGHJDUDQWÞDR
FRUWHVÞD\EHQHILFLRVRDOYHQGHUHOYHಢ
KÞFXOR
,QWHUYDORGHVHUYLFLRFRQYLGDëWLO
UHVWDQWHGHODFHLWHGHOPRWRU
(OLQWHUYDORGHVHUYLFLRVHEDVDHQYDಢ
ULRVSDUÒPHWURVTXHGHSHQGHQGHO
XVR
/DLQGLFDFLäQGHVHUYLFLROHDYLVD
FXDQGRKD\TXHFDPELDUHODFHLWHGHO
PRWRU
,QGLFDFLäQGHVHUYLFLR
3LH]DVOÞTXLGRV\
OXEULFDQWHV
UHFRPHQGDGRV
/ÞTXLGRV\OXEULFDQWHV
UHFRPHQGDGRV
8WLOLFHVLHPSUHSURGXFWRVTXHFXPಢ
SODQODVHVSHFLILFDFLRQHVUHFRPHQಢ
GDGDV
$GYHUWHQFLD
/RVOÞTXLGRVOXEULFDQWHV\FRPಢ
EXVWLEOHVVRQSHOLJURVRV\SXHGHQ
VHUWä[LFRV'HEHQPDQLSXODUVH
FRQFXLGDGR3UHVWHDWHQFLäQDOD
LQIRUPDFLäQTXHILJXUDHQORVHQಢ
YDVHV
$FHLWHGHOPRWRU
(ODFHLWHGHPRWRUVHLGHQWLILFDSRUVX
FDOLGDG\VXYLVFRVLGDG/DFDOLGDGHV
PÒVLPSRUWDQWHTXHODYLVFRVLGDGDOD
KRUDGHVHOHFFLRQDUTXÚDFHLWHGH
PRWRUVHYDDXVDU/DFDOLGDGGHO
DFHLWHJDUDQWL]DSRUHMHPSORODOLPಢ
SLH]DGHOPRWRUODSURWHFFLäQFRQWUD
HOGHVJDVWH\HOFRQWUROGHOHQYHMHFLಢ
PLHQWRGHODFHLWHPLHQWUDVTXHHO
JUDGRGHYLVFRVLGDGLQIRUPDVREUHOD
IOXLGH]GHODFHLWHHQIXQFLäQGHOD
WHPSHUDWXUD
'H[RVHVODFDOLGDGGHDFHLWHPÒVUHಢ
FLHQWH\RIUHFHXQDSURWHFFLäQäSWLPD
SDUDPRWRUHVGHJDVROLQD\GLÚVHO6L
QRHVWÒGLVSRQLEOHGHEHQXWLOL]DUVH
DFHLWHVGHPRWRUGHODVRWUDVFDOLGDಢ
GHVLQGLFDGDV/DVUHFRPHQGDFLRQHV
SDUDORVPRWRUHVGHJDVROLQDWDPELÚQ
VRQYÒOLGDVSDUDORVPRWRUHVGHJDV
QDWXUDOFRPSULPLGR&1*JDVOLಢ
FXDGRGHOSHWUäOHR*/3\HWDQRO
(
6HOHFFLRQHHODFHLWHGHPRWRUDSURಢ
SLDGREDVÒQGRVHHQVXFDOLGDG\HQ
ODWHPSHUDWXUDDPELHQWHPÞQLPD
5HSRVLFLäQGHODFHLWHGHPRWRU
6HSXHGHQPH]FODUDFHLWHVGHPRWRU
GHGLIHUHQWHVIDEULFDQWHV\PDUFDV
VLHPSUHTXHFXPSODQORVUHTXLVLWRV
GHFDOLGDG\YLVFRVLGDGGHODFHLWHGH
PRWRU
6HUYLFLR\PDQWHQLPLHQWR
6HSURKÞEHHOXVRGHDFHLWHGHPRWRU
FRQFDOLGDG$&($$%R$%VRಢ
ODPHQWH\DTXHVHSXHGHQRFDVLRQDU
GDâRVHQHOPRWRUDODUJRSOD]RHQ
GHWHUPLQDGDVFRQGLFLRQHVGHIXQFLRಢ
QDPLHQWR
6HOHFFLRQHHODFHLWHGHPRWRUDSURಢ
SLDGREDVÒQGRVHHQVXFDOLGDG\HQ
ODWHPSHUDWXUDDPELHQWHPÞQLPD
$GLWLYRVDGLFLRQDOHVSDUDHODFHLWHGH
PRWRU
(OXVRGHDGLWLYRVSDUDHODFHLWHGH
PRWRUSRGUÞDFDXVDUGDâRV\DQXODUOD
JDUDQWÞD
*UDGRVGHYLVFRVLGDGGHODFHLWHGH
PRWRU
(OJUDGRGHYLVFRVLGDG6$(LQIRUPD
VREUHODIOXLGH]GHODFHLWH
(ODFHLWHPXOWLJUDGRVHLGHQWLILFDPHಢ
GLDQWHGRVFLIUDVSRUHMHPSOR
6$(:/DSULPHUDFLIUDVHJXLGD
SRUXQD:LQGLFDODYLVFRVLGDGDEDಢ
MDVWHPSHUDWXUDV\ODVHJXQGDFLIUD
LQGLFDODYLVFRVLGDGDDOWDVWHPSHUDಢ
WXUDV
6HOHFFLRQHHOJUDGRGHYLVFRVLGDG
DSURSLDGRHQIXQFLäQGHODWHPSHUDಢ
WXUDDPELHQWHPÞQLPD
7RGRVORVJUDGRVGHYLVFRVLGDGUHFRಢ
PHQGDGRVVRQDGHFXDGRVSDUDWHPಢ
SHUDWXUDVDPELHQWHDOWDV
/ÞTXLGRGHIUHQRV\HPEUDJXH
5HIULJHUDQWH\DQWLFRQJHODQWH
$G%OXH
8WLOLFHVäORUHIULJHUDQWHGHODUJDGXಢ
UDFLäQ//&ELRGHJUDGDEOHKRPRORಢ
JDGRSDUDHOYHKÞFXOR5HFXUUDDXQ
WDOOHU
(OVLVWHPDYLHQHGHIÒEULFDOOHQRGH
UHIULJHUDQWHGLVHâDGRSDUDSURWHJHU
FRQWUDODFRUURVLäQ\ODFRQJHODFLäQ
KDVWDXQRV¡&(QORVSDÞVHVGHO
1RUWHFRQWHPSHUDWXUDVPX\EDMDVHO
UHIULJHUDQWHGHIÒEULFDSURWHJHKDVWD
XQRV¡&(VWDFRQFHQWUDFLäQ
GHEHPDQWHQHUVHGXUDQWHWRGRHO
DâR(OXVRGHDGLWLYRVSDUDHOUHIULಢ
JHUDQWHGHVWLQDGRVDRIUHFHUSURWHFಢ
FLäQDGLFLRQDOFRQWUDODFRUURVLäQRD
VHOODUIXJDVPHQRUHVSXHGHFDXVDU
SUREOHPDVGHIXQFLRQDPLHQWR(OIDಢ
EULFDQWHQRVHKDFHUHVSRQVDEOHGH
ODVFRQVHFXHQFLDVGHOXVRGHDGLWLYRV
SDUDHOUHIULJHUDQWH
8WLOLFHVäOR$G%OXHSDUDUHGXFLUOD
HPLVLäQGHä[LGRVGHQLWUäJHQRGHORV
JDVHVGHHVFDSH
&RQHOWLHPSRHOOÞTXLGRGHIUHQRV
DEVRUEHKXPHGDGTXHUHGXFHODHILಢ
FDFLDGHOVLVWHPDGHIUHQRV3RUHVR
VHGHEHVXVWLWXLUHOOÞTXLGRGHIUHQRV
HQHOLQWHUYDORHVSHFLILFDGR
'DWRVWÚFQLFRV
'DWRVWÚFQLFRV
,GHQWLILFDFLäQGHOYHKÞFXOR 1ëPHURGHLGHQWLILFDFLäQGHO
YHKÞFXOR 3ODFDGHFDUDFWHUÞVWLFDV ,GHQWLILFDFLäQGHOPRWRU 'DWRVGHOYHKÞFXOR /ÞTXLGRV\OXEULFDQWHV
UHFRPHQGDGRV 'DWRVGHOPRWRU 3UHVWDFLRQHV 3HVRVGHOYHKÞFXOR 'LPHQVLRQHVGHOYHKÞFXOR &DSDFLGDGHV 3UHVLRQHVGHORVQHXPÒWLFRV ,GHQWLILFDFLäQGHO
YHKÞFXOR
3ODFDGHFDUDFWHUÞVWLFDV
1ëPHURGHLGHQWLILFDFLäQ
GHOYHKÞFXOR
/DHWLTXHWDGHFDUDFWHUÞVWLFDVVHHQಢ
FXHQWUDHQHOPDUFRGHODSXHUWDGHಢ
ODQWHUDL]TXLHUGDRGHUHFKD
(OQëPHURGHLGHQWLILFDFLäQGHOYHಢ
KÞFXORHVYLVLEOHDWUDYÚVGHOSDUDEULಢ
VDV
(OQëPHURGHLGHQWLILFDFLäQGHOYHಢ
KÞFXORSXHGHHVWDUVHOODGRHQODSODFD
GHLGHQWLILFDFLäQ\HQODEDQGHMDGHO
VXHORGHEDMRGHODFXELHUWDGHOVXHOR
YLVLEOHGHEDMRGHXQDFXELHUWDRHQHO
FRPSDUWLPHQWRGHOPRWRUHQHOSDQHO
GHUHFKRGHODFDUURFHUÞD
'DWRVWÚFQLFRV
,QIRUPDFLäQGHODSODFDGHFDUDFWHಢ
UÞVWLFDV
IDEULFDQWH
QëPHURGHKRPRORJDFLäQGHWLSR
QëPHURGHLGHQWLILFDFLäQGHOYHಢ
KÞFXOR
SHVRPÒ[LPRDXWRUL]DGRHQNJ
SHVRPÒ[LPRDXWRUL]DGRFRQUHಢ
PROTXHHQNJ
FDUJDPÒ[LPDDGPLVLEOHHQHOHMH
GHODQWHURHQNJ
FDUJDPÒ[LPDDGPLVLEOHHQHOHMH
WUDVHURHQNJ
GDWRVHVSHFÞILFRVGHOYHKÞFXORR
GHOSDÞVSHM$0 DâRPRGHOR
/DVXPDGHODVFDUJDVVREUHHOHMH
GHODQWHUR\WUDVHURQRGHEHH[FHGHU
HOSHVRPÒ[LPRDXWRUL]DGRGHOYHಢ
KÞFXOR3RUHMHPSORVLHOHMHGHODQಢ
WHURVRSRUWDODFDUJDPÒ[LPDDGPLVLಢ
EOHHOWUDVHURVäORSRGUÒOOHYDUXQD
FDUJDLJXDODOSHVRPÒ[LPRDXWRULಢ
]DGRPHQRVODFDUJDVREUHHOHMHGHಢ
ODQWHUR
/RVGDWRVWÚFQLFRVVHGHWHUPLQDQ
FRQIRUPHDODVQRUPDVGHOD8QLäQ
(XURSHD4XHGDUHVHUYDGRHOGHUHಢ
FKRDLQWURGXFLUPRGLILFDFLRQHV/DV
HVSHFLILFDFLRQHVFRQWHQLGDVHQODGRಢ
FXPHQWDFLäQGHOYHKÞFXORVLHPSUH
WLHQHQSULRULGDGUHVSHFWRDORVGDWRV
IDFLOLWDGRVHQHVWHPDQXDO
,GHQWLILFDFLäQGHOPRWRU
/DVWDEODVGHGDWRVWÚFQLFRVXWLOL]DQ
HOFäGLJRGHLGHQWLILFDFLäQGHOPRWRU
/DWDEODGHGDWRVGHOPRWRUPXHVWUD
WDPELÚQHOFäGLJRGHLQJHQLHUÞD'Dಢ
WRVGHOPRWRU
3DUDLGHQWLILFDUHOPRWRUUHVSHFWLYR
FRQVXOWHHOFHUWLILFDGRGHFRQIRUPLಢ
GDG&((TXHVHHQWUHJDFRQHOYHಢ
KÞFXORRODGRFXPHQWDFLäQGHPDWULಢ
FXODFLäQQDFLRQDO
(O&HUWLILFDGRGHFRQIRUPLGDGPXHVಢ
WUDHOFäGLJRGHLGHQWLILFDFLäQGHOPRಢ
WRURWUDVSXEOLFDFLRQHVQDFLRQDOHV
SXHGHQPRVWUDUHOFäGLJRGHLQJHQLHಢ
UÞD&RPSUXHEHODFLOLQGUDGD\ODSRಢ
WHQFLDGHOPRWRUSDUDLGHQWLILFDUHO
PRWRUFRUUHVSRQGLHQWH
'DWRVWÚFQLFRV
'DWRVGHOYHKÞFXOR
/ÞTXLGRV\OXEULFDQWHVUHFRPHQGDGRV
3ODQGHUHYLVLRQHVHXURSHR
&DOLGDGUHTXHULGDGHODFHLWHGHPRWRU
7RGRVORVSDÞVHVHXURSHRVFRQLQWHUYDORGHVHUYLFLRHXURSHR
&DOLGDGGHODFHLWHGHOPRWRU
0RWRUHVGHJDVROLQD
LQFOXLGRV&1**/3(
0RWRUHVGLÚVHO
GH[RV
ಥ
ಥ
GH[RV
Ⴌ
Ⴌ
6LODFDOLGDG'H[RVQRHVWÒGLVSRQLEOHSXHGHHPSOHDUXQPÒ[LPRGHOLWURGHDFHLWHGHPRWRUGHFDOLGDG$&($&HQWUH
GRVFDPELRVGHDFHLWH
*UDGRVGHYLVFRVLGDGGHODFHLWHGHPRWRU
7RGRVORVSDÞVHVHXURSHRVFRQLQWHUYDORGHVHUYLFLRHXURSHR
7HPSHUDWXUDDPELHQWH
0RWRUHVGHJDVROLQD\GLÚVHO
KDVWD¡&
6$(:R6$(:
LQIHULRUD¡&
6$(:R6$(:
'DWRVWÚFQLFRV
3ODQGHUHYLVLRQHVLQWHUQDFLRQDO
&DOLGDGUHTXHULGDGHODFHLWHGHPRWRU
7RGRVORVSDÞVHVFRQLQWHUYDORGHVHUYLFLRLQWHUQDFLRQDO
&DOLGDGGHODFHLWHGHOPRWRU
0RWRUHVGHJDVROLQD
LQFOXLGRV&1**/3(
0RWRUHVGLÚVHO
GH[RVVLHVWÒGLVSRQLEOH
Ⴌ
ಥ
GH[RV
Ⴌ
Ⴌ
6LQRKD\GLVSRQLEOHDFHLWHGHODFDOLGDGGH[RVSXHGHXVDUODVFDOLGDGHVGHDFHLWHUHODFLRQDGDVDFRQWLQXDFLäQ
7RGRVORVSDÞVHVFRQLQWHUYDORGHVHUYLFLRLQWHUQDFLRQDO
&DOLGDGGHODFHLWHGHOPRWRU
0RWRUHVGHJDVROLQD
LQFOXLGRV&1**/3(
0RWRUHVGLÚVHO
*0//$
Ⴌ
ಥ
*0//%
ಥ
Ⴌ
7RGRVORVSDÞVHVFRQLQWHUYDORGHVHUYLFLRLQWHUQDFLRQDO
&DOLGDGGHODFHLWHGHOPRWRU
0RWRUHVGHJDVROLQD
LQFOXLGRV&1**/3(
0RWRUHVGLÚVHO
$&($$%
Ⴌ
ಥ
$&($$%
Ⴌ
Ⴌ
'DWRVWÚFQLFRV
7RGRVORVSDÞVHVFRQLQWHUYDORGHVHUYLFLRLQWHUQDFLRQDO
$&($&
Ⴌ
Ⴌ
$3,60
Ⴌ
ಥ
$3,615HVRXUFH&RQVHUYLQJ
Ⴌ
ಥ
*UDGRVGHYLVFRVLGDGGHODFHLWHGHPRWRU
7RGRVORVSDÞVHVFRQLQWHUYDORGHVHUYLFLRLQWHUQDFLRQDO
7HPSHUDWXUDDPELHQWH
0RWRUHVGHJDVROLQD\GLÚVHO
KDVWD¡&
6$(:R6$(:
LQIHULRUD¡&
6$(:R6$(:
KDVWD¡&
6$(:R6$(:
3HUPLWLGRVSHURVHUHFRPLHQGDHOXVRGH6$(:ä6$(:FRQFDOLGDGGH[RV
'DWRVWÚFQLFRV
'DWRVGHOPRWRU
'LVWLQWLYRGHOPRWRU
%1(7
%1(7
%6+/
%;(5 %1+7
%1(5
'HVLJQDFLäQFRPHUFLDO
/3*
23&
&äGLJRGHLQJHQLHUÞD
%1(7
%1(7
%6+7
%;(5 %1+7
%1(7
&LOLQGUDGD>FP@
3RWHQFLDGHOPRWRU>N:@
DUSP
3DU>1P@
DUSP
7LSRGHFRPEXVWLEOH
*DVROLQD
*DVROLQDJDVOLFXDGR
*DVROLQD
*DVROLQD *DVROLQD
*DVROLQD
UHFRPHQGDGR
SHUPLWLGR
SHUPLWLGR
7LSRGHFRPEXVWLEOHDGLFLRQDO
ಥ
*DVOLFXDGR/3*
ಥ
ಥ
ಥ
ಥ
2FWDQDMH521
8QDHWLTXHWDHVSHFÞILFDGHOSDÞVHQODWDSDGHOGHSäVLWRGHFRPEXVWLEOHSXHGHGHMDUVLQHIHFWRHOUHTXLVLWRHVSHFÞILFRGHOPRWRU
3XHGHXWLOL]DUVHVLHPSUHTXHVHHYLWHXQDFDUJDH[FHVLYDDOPRWRURFRQGXFLUDSOHQDFDUJDDVÞFRPRODFRQGXFFLäQSRUWHUUHQRV
PRQWDâRVRVFRQUHPROTXHFDUDYDQDRFDUJDPX\SHVDGD
'DWRVWÚFQLFRV
'LVWLQWLYRGHOPRWRU
%'7-
%'7+
%'7+
'HVLJQDFLäQFRPHUFLDO
&'7,
&'7,
&'7,
&äGLJRGHLQJHQLHUÞD
%'7+
%'7+
%'7+
&LOLQGUDGD>FP@
3RWHQFLDGHOPRWRU>N:@
DUSP
3DU>1P@
DUSP
7LSRGHFRPEXVWLEOH
'LÚVHO
'LÚVHO
'LÚVHO
'DWRVWÚFQLFRV
3UHVWDFLRQHV
6HGÒQGHSXHUWDVSXHUWDV
%1(7
%1(7/3*
%6+/
%;(5
%1+7
%1+7
77
%1(5
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
ಥ
ಥ
ಥ
0RWRU
9HORFLGDGPÒ[LPD>NPK@
7UDFFLäQWRWDO
9HORFLGDGOLPLWDGD
0RWRU
%'7-
%'7+
%'7+
%'7+
77
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
ಥ
7UDFFLäQWRWDO
&2UHGXFLGR
'DWRVWÚFQLFRV
6SRUWV7RXUHU
0RWRU
%1(7
%1(7/3*
%6+/
%;(5
%1+7
%1+7
%1(5
77
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
ಥ
ಥ
ಥ
7UDFFLäQWRWDO
9HORFLGDGOLPLWDGD
0RWRU
%'7-
%'7+
%'7+
%'7+
77
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
ಥ
7UDFFLäQWRWDO
&2UHGXFLGR
'DWRVWÚFQLFRV
&RXQWU\7RXUHU
0RWRU
%6+/
%1+7
%'7+
77
%'7+
77
9HORFLGDGPÒ[LPD>NPK@
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
7UDFFLäQWRWDO
'DWRVWÚFQLFRV
3HVRVGHOYHKÞFXOR
3HVRHQYDFÞRPRGHOREÒVLFRVLQQLQJëQHTXLSDPLHQWRRSFLRQDO
6HGÒQGHSXHUWDV
0RWRU
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
>NJ@
%1(7
ಥ
%1(7/3*
ಥ
%6+/
%;(5
ಥ
%1+7
%1+77UDFFLäQWRWDO
%1(57UDFFLäQWRWDO
%'7-
ಥ
%'7+
%'7+
%'7+7UDFFLäQWRWDO
>NJ@
'DWRVWÚFQLFRV
3HVRHQYDFÞRPRGHOREÒVLFRVLQQLQJëQHTXLSDPLHQWRRSFLRQDO
9HUVLäQSXHUWDV
0RWRU
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
>NJ@
%1(7
ಥ
%1(7/3*
ಥ
%6+/
%;(5
ಥ
%1+7
%1+77UDFFLäQWRWDO
%1(57UDFFLäQWRWDO
%'7-
ಥ
%'7+
%'7+
%'7+7UDFFLäQWRWDO
>NJ@
'DWRVWÚFQLFRV
3HVRHQYDFÞRPRGHOREÒVLFRVLQQLQJëQHTXLSDPLHQWRRSFLRQDO
6SRUWV7RXUHU
0RWRU
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
>NJ@
%1(7
ಥ
%1(7/3*
ಥ
%6+/
%;(5
ಥ
%1+7
%1+77UDFFLäQWRWDO
%1(57UDFFLäQWRWDO
%'7-
ಥ
%'7+
%'7+
%'7+7UDFFLäQWRWDO
>NJ@
'DWRVWÚFQLFRV
3HVRHQYDFÞRPRGHOREÒVLFRVLQQLQJëQHTXLSDPLHQWRRSFLRQDO
&RXQWU\7RXUHU
0RWRU
&DPELRPDQXDO
&DPELRDXWRPÒWLFR
>NJ@
%6+/7UDFFLäQGHODQWHUD
%1+77UDFFLäQWRWDO
%'7+7UDFFLäQGHODQWHUD
%'7+7UDFFLäQWRWDO
>NJ@
(OHTXLSDPLHQWRRSFLRQDO\ORVDFFHVRULRVDXPHQWDQHOSHVRHQYDFÞR
,QIRUPDFLäQVREUHODFDUJD
'LPHQVLRQHVGHOYHKÞFXOR
6HGÒQGHSXHUWDV 9HUVLäQSXHUWDV 6SRUWV7RXUHU &RXQWU\7RXUHU
/RQJLWXG>PP@
$QFKXUDVLQUHWURYLVRUHVH[WHULRUHV>PP@
$QFKXUDFRQGRVUHWURYLVRUHVH[WHULRUHV>PP@
$OWXUDVLQDQWHQD>PP@
$OWXUDGHOYHKÞFXORPDOHWHURDELHUWR>PP@
/RQJLWXGGHOSLVRGHOFRPSDUWLPHQWRGHFDUJD
>PP@
/RQJLWXGGHOFRPSDUWLPHQWRGHFDUJDFRQ
DVLHQWRVWUDVHURVDEDWLGRV>PP@
'DWRVWÚFQLFRV
6HGÒQGHSXHUWDV 9HUVLäQSXHUWDV 6SRUWV7RXUHU &RXQWU\7RXUHU
$QFKXUDGHOFRPSDUWLPHQWRGHFDUJD>PP@
$OWXUDGHOFRPSDUWLPHQWRGHFDUJD>PP@
'LVWDQFLDHQWUHHMHV>PP@
'LÒPHWURGHJLUR>P@
'DWRVWÚFQLFRV
&DSDFLGDGHV
$FHLWHGHOPRWRU
0RWRU
%1(7
%1(7
/3*
%6+/
%;(5
%1+7
7'
%1+7
77
%1(5
LQFOXLGRHOILOWUR>O@
HQWUH0,1\0$;>O@
7UDFFLäQGHODQWHUD
7UDFFLäQWRWDO
0RWRU
%'7-
%'7+
%'7+
LQFOXLGRHOILOWUR>O@
HQWUH0,1\0$;>O@
'HSäVLWRGHFRPEXVWLEOH
*DVROLQDGLÚVHOFDQWLGDGGHOOHQDGR>O@
/3*FDQWLGDGGHUHSRVWDMH>O@
'HSäVLWRGH$G%OXH
$G%OXHFDQWLGDGGHOOHQDGR>O@
'DWRVWÚFQLFRV
3UHVLRQHVGHORVQHXPÒWLFRV
/DVSUHVLRQHVGHORVQHXPÒWLFRVGLILHUHQHQIXQFLäQGHOPRGHOR(ORUGHQGHORVPRGHORVGHFRFKHVHQXPHUDGRVHVHO
VLJXLHQWH
ထ /RVYHKÞFXORVFRQWUDFFLäQGHODQWHUDYHUVLäQGHSXHUWDVVHGÒQGHSXHUWDV
ထ 9HKÞFXORVFRQWUDFFLäQGHODQWHUD6SRUWV7RXUHU
ထ 9HKÞFXORVFRQWUDFFLäQGHODQWHUD&RXQWU\7RXUHU
ထ /RVYHKÞFXORVFRQWUDFFLäQWRWDOYHUVLäQGHSXHUWDVVHGÒQGHSXHUWDV
ထ 9HKÞFXORVFRQWUDFFLäQWRWDO6SRUWV7RXUHU
ထ 9HKÞFXORVFRQWUDFFLäQWRWDO&RXQWU\7RXUHU
&RQVXOWHHOWÞWXORGHWDEODSDUDHQFRQWUDUODSUHVLäQGHOQHXPÒWLFRFRUUHFWDSDUDVXPRGHOR
'DWRVWÚFQLFRV
3UHVLRQHVGHORVQHXPÒWLFRVSDUDYHKÞFXORVFRQWUDFFLäQGHODQWHUD
9HUVLäQGHSXHUWDVVHGÒQGHSXHUWDV
0RWRU
%1(7
%1(7/3*
%;(5
1HXPÒWLFRV
5
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%6+/
1HXPÒWLFRV
5
5
5
5
5
5
5
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%1+7
1HXPÒWLFRV
5
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
%1+7FRQFKDVLVGH
5
6SRUW\IUHQR%UHPERGH
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%'7-
%'7+
1HXPÒWLFRV
5
5
5
5
5
5
5
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%'7+
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
1HXPÒWLFRV
5
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
1HXPÒWLFRV
%'7+FRQFKDVLVGH
5
6SRUW\IUHQR%UHPERGH
5
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
ಥ
ಥ
5
7RGRV
5XHGDGH
HPHUJHQFLD
5
5
'DWRVWÚFQLFRV
6SRUWV7RXUHU
0RWRU
%1(7
%1(7/3*
%;(5
1HXPÒWLFRV
5
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%1+7
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
1HXPÒWLFRV
5
5
5
5
5
5
%1+7FRQFKDVLVGH
6SRUW\IUHQR%UHPERGH
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%6+/
%'7-
%'7+
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
1HXPÒWLFRV
5
5
5
5
5
5
%'7+
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJD
KDVWDSHUVRQDV
0RWRU
%'7+FRQFKDVLVGH
6SRUW\IUHQR%UHPERGH
(&2FRQFDUJDGH
KDVWDSHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
ಥ
ಥ
1HXPÒWLFRV
5
7RGRV
5XHGDGH
HPHUJHQFLD
5
5
'DWRVWÚFQLFRV
&RXQWU\7RXUHU7UDFFLäQGHODQWHUD
&RQIRUWFRQFDUJDKDVWD
SHUVRQDV
0RWRU
1HXPÒWLFRV
(&2FRQFDUJDGHKDVWD
SHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
%'7+ 5
%6+/ 5
5
5
5
5
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJDKDVWD
SHUVRQDV
0RWRU
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5XHGDGHHPHUJHQFLD 5
5
ಥ
ಥ
1HXPÒWLFRV
5
7RGRV
(&2FRQFDUJDGHKDVWD
SHUVRQDV
'DWRVWÚFQLFRV
3UHVLRQHVGHORVQHXPÒWLFRVSDUDYHKÞFXORVFRQWUDFFLäQWRWDO
6HGÒQGHSXHUWDVSXHUWDV
&RQIRUWFRQFDUJDKDVWD (&2FRQFDUJDGHKDVWD &RQFDUJDFRPSOHWD
SHUVRQDV
SHUVRQDV
0RWRU
%1+7
1HXPÒWLFRV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
5
%1+7FRQFKDVLV 5
GH6SRUW\IUHQR
%UHPERGH
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJDKDVWD (&2FRQFDUJDGHKDVWD &RQFDUJDFRPSOHWD
SHUVRQDV
SHUVRQDV
0RWRU
%'7+
1HXPÒWLFRV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
5
%'7+FRQFKDVLV 5
GH6SRUW\IUHQR
%UHPERGH
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJDKDVWD (&2FRQFDUJDGHKDVWD &RQFDUJDFRPSOHWD
SHUVRQDV
SHUVRQDV
0RWRU
%1(5
1HXPÒWLFRV
5
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
ಥ
5
5
7RGRV
5XHGDGH
HPHUJHQFLD
5
5
ಥ
'DWRVWÚFQLFRV
6SRUWV7RXUHU
0RWRU
%1+7
%'7+
1HXPÒWLFRV
5
&RQIRUWFRQFDUJDKDVWD
SHUVRQDV
(&2FRQFDUJDGHKDVWD
SHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
5
5
5
5
'DWRVWÚFQLFRV
&RQIRUWFRQFDUJDKDVWD
SHUVRQDV
0RWRU
1HXPÒWLFRV
(&2FRQFDUJDGHKDVWD
SHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
5
%1+7
%'7+
FRQFKDVLVGH6SRUW 5
\IUHQR%UHPERGH
5
7RGRV
ಥ
5XHGDGH
HPHUJHQFLD
5
5
ಥ
'DWRVWÚFQLFRV
&RXQWU\7RXUHU7UDFFLäQWRWDO
0RWRU
1HXPÒWLFRV
%1+7 5
%'7+
5
&RQIRUWFRQFDUJDKDVWD
SHUVRQDV
(&2FRQFDUJDGHKDVWD
SHUVRQDV
&RQFDUJDFRPSOHWD
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
GHODQWH
GHWUÒV
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
>N3DEDU@
>SVL@
ಥ
ಥ
5
5
7RGRV
5XHGDGH
HPHUJHQFLD
5
5
,QIRUPDFLäQGHFOLHQWHV
,QIRUPDFLäQGH
FOLHQWHV
,QIRUPDFLäQGHFOLHQWHV
'HFODUDFLäQGHFRQIRUPLGDG
6LVWHPDVGHUDGLRWUDQVPLVLäQ
,QIRUPDFLäQGHFOLHQWHV 'HFODUDFLäQGHFRQIRUPLGDG 5HSDUDFLäQGHGDâRVSRU
FROLVLäQ 5HFRQRFLPLHQWRGHVRIWZDUH 5HJLVWURGHGDWRVGHOYHKÞFXOR\
SULYDFLGDG 5HJLVWUDGRUHVGHGDWRV ,GHQWLILFDFLäQSRU
UDGLRIUHFXHQFLD5),' (VWHYHKÞFXORGLVSRQHGHVLVWHPDV
TXHWUDQVPLWHQ\RUHFLEHQRQGDVGH
UDGLRVXMHWDVDOD'LUHFWLYD
&((VWRVVLVWHPDVFXPSOHQ
ORVUHTXLVLWRVHVWÒQGDU\RWUDVGLVSRಢ
VLFLRQHVUHOHYDQWHVGHOD'LUHFWLYD
&(6HSXHGHQREWHQHUFRಢ
SLDVGHODV'HFODUDFLRQHVGHFRQIRUಢ
PLGDGRULJLQDOHVHQQXHVWURVLWLRZHE
6LVWHPDVGHUDGDU
(QODSÒJLQDVLJXLHQWHVHPXHVWUDQ
ODV'HFODUDFLRQHVGHFRQIRUPLGDGHVಢ
SHFÞILFDVGHOSDÞVSDUDVLVWHPDVGH
UDGDU
,QIRUPDFLäQGHFOLHQWHV
,QIRUPDFLäQGHFOLHQWHV
*DWR
,QIRUPDFLäQGHFOLHQWHV
7UDGXFFLäQGHODGHFODUDFLäQGH
FRQIRUPLGDGRULJLQDO
'HFODUDFLäQGHFRQIRUPLGDGGH
DFXHUGRFRQOD'LUHFWLYDGHOD
&(&(
'HFODUDPRVTXHHOSURGXFWR
'HVLJQDFLäQGHOSURGXFWR*DWR
7LSR1ëPHURGHSLH]D*0
HVFRQIRUPHFRQODVGLVSRVLFLRQHVGH
OD'LUHFWLYD&(
(VWÒQGDUHVWÚFQLFRVDSOLFDGRV
*01
HOHYDFLäQFRQJDWR
*0
JDWRGHHTXLSRHVಢ
WÒQGDUSUXHEDVGH
KHUUDPLHQWDV
*01
LQWHJULGDGGHOYHಢ
KÞFXORHOHYDFLäQ\
HOHYDFLäQFRQJDWR
GHHVWDFLäQGHVHUಢ
YLFLR
*0: JDWRGHHTXLSRHVಢ
WÒQGDU\UXHGDGH
UHSXHVWRSUXHED
GHOYHKÞFXOR
,6276 VLVWHPDVGHJHVWLäQ
GHFDOLGDG
6HDXWRUL]DDOVLJQDWDULRDUHFRSLODUOD
GRFXPHQWDFLäQWÚFQLFD
5íVVHOVKHLPGHHQHURGH
ILUPDGRSRU
+DQV3HWHU0HW]JHU
'LUHFWRUGHOJUXSRGHLQJHQLHUÞDGH
FKDVLV\HVWUXFWXUDV
$GDP2SHO$*
'5íVVHOVKHLP
5HSDUDFLäQGHGDâRVSRU
FROLVLäQ
(VSHVRUGHODSLQWXUD
'HELGRDODVWÚFQLFDVGHSURGXFFLäQ
HOHVSHVRUGHODSLQWXUDSXHGHYDULDU
HQWUH\¦P
3RUWDQWRXQHVSHVRUGHSLQWXUDGLIHಢ
UHQWHQRHVLQGLFDWLYRGHXQDUHSDUDಢ
FLäQGHGDâRVSRUFROLVLäQ
5HFRQRFLPLHQWRGH
VRIWZDUH
'HWHUPLQDGRVFRPSRQHQWHVGH
2Q6WDULQFOX\HQHOVRIWZDUHOLEFXUO\
XQ]LS\RWURVRIWZDUHGHWHUFHURV$
FRQWLQXDFLäQVHPXHVWUDQORVDYLVRV
\ODVOLFHQFLDVDVRFLDGRVFRQOLEFXUO\
XQ]LSSDUDRWURVRIWZDUHGHWHUFHURV
YLVLWHKWWSZZZOJFRPJOREDOVXSಢ
SRUWRSHQVRXUFHLQGH[
(QFRQWUDUÒODWUDGXFFLäQGHEDMRGHO
WH[WRRULJLQDO
OLEFXUO
&RS\ULJKWDQGSHUPLVVLRQQRWLFH
&RS\ULJKWF'DQLHO
6WHQEHUJGDQLHO#KD[[VH!
$OOULJKWVUHVHUYHG
3HUPLVVLRQWRXVHFRS\PRGLI\DQG
GLVWULEXWHWKLVVRIWZDUHIRUDQ\SXUಢ
SRVHZLWKRUZLWKRXWIHHLVKHUHE\
JUDQWHGSURYLGHGWKDWWKHDERYH
FRS\ULJKWQRWLFHDQGWKLVSHUPLVVLRQ
QRWLFHDSSHDULQDOOFRSLHV
7KHVRIWZDUHLVSURYLGHGDVLVZLWಢ
KRXWZDUUDQW\RIDQ\NLQGH[SUHVVRU
LPSOLHGLQFOXGLQJEXWQRWOLPLWHGWR
WKHZDUUDQWLHVRIPHUFKDQWDELOLW\ILWಢ
QHVVIRUDSDUWLFXODUSXUSRVHDQGQRಢ
QLQIULQJHPHQWRIWKLUGSDUW\ULJKWV,Q
QRHYHQWVKDOOWKHDXWKRUVRUFRS\ಢ
ULJKWKROGHUVEHOLDEOHIRUDQ\FODLP
GDPDJHVRURWKHUOLDELOLW\ZKHWKHULQ
,QIRUPDFLäQGHFOLHQWHV
DQDFWLRQRIFRQWUDFWWRUWRURWKHUಢ
ZLVHDULVLQJIURPRXWRIRULQFRQಢ
QHFWLRQZLWKWKHVRIWZDUHRUWKHXVHRU
RWKHUGHDOLQJVLQWKHVRIWZDUH
([FHSWDVFRQWDLQHGLQWKLVQRWLFHWKH
QDPHRIDFRS\ULJKWKROGHUVKDOOQRW
EHXVHGLQDGYHUWLVLQJRURWKHUZLVHWR
SURPRWHWKHVDOHXVHRURWKHUGHDಢ
OLQJVLQWKLV6RIWZDUHZLWKRXWSULRU
ZULWWHQDXWKRUL]DWLRQRIWKHFRS\ULJKW
KROGHU
XQ]LS
7KLVLVYHUVLRQ)HERIWKH
,QIR=,3FRS\ULJKWDQGOLFHQVH7KH
GHILQLWLYHYHUVLRQRIWKLVGRFXPHQW
VKRXOGEHDYDLODEOHDWIWSIWSLQIR
]LSRUJSXELQIR]LSOLFHQVHKWPOLQGHಢ
ILQLWHO\
&RS\ULJKWF,QIR=,3$OO
ULJKWVUHVHUYHG
)RUWKHSXUSRVHVRIWKLVFRS\ULJKWDQG
OLFHQVHಮ,QIR=,3ಯLVGHILQHGDVWKH
IROORZLQJVHWRILQGLYLGXDOV
0DUN$GOHU-RKQ%XVK.DUO'DYLV
+DUDOG'HQNHU-HDQ0LFKHO'XERLV
-HDQORXS*DLOO\+XQWHU*RDWOH\(G
*RUGRQ,DQ*RUPDQ&KULV+HUERUWK
'LUN+DDVH*UHJ+DUWZLJ5REHUW
+HDWK-RQDWKDQ+XGVRQ3DXO.LHಢ
QLW]'DYLG.LUVFKEDXP-RKQQ\/HH
2QQRYDQGHU/LQGHQ,JRU0DQGULಢ
FKHQNR6WHYH30LOOHU6HUJLR0Rಢ
QHVL.HLWK2ZHQV*HRUJH3HWURY
*UHJ5RHORIV.DL8ZH5RPPHO
6WHYH6DOLVEXU\'DYH6PLWK6WHYHQ
06FKZHGD&KULVWLDQ6SLHOHU&RVಢ
PLQ7UXWD$QWRLQH9HUKHLMHQ3DXO
YRQ%HKUHQ5LFK:DOHV0LNH:KLWH
7KLVVRIWZDUHLVSURYLGHGಮDVLVಯZLWಢ
KRXWZDUUDQW\RIDQ\NLQGH[SUHVVRU
LPSOLHG,QQRHYHQWVKDOO,QIR=,3RU
LWVFRQWULEXWRUVEHKHOGOLDEOHIRUDQ\
GLUHFWLQGLUHFWLQFLGHQWDOVSHFLDORU
FRQVHTXHQWLDOGDPDJHVDULVLQJRXWRI
WKHXVHRIRULQDELOLW\WRXVHWKLVVRIWಢ
ZDUH
3HUPLVVLRQLVJUDQWHGWRDQ\RQHWR
XVHWKLVVRIWZDUHIRUDQ\SXUSRVHLQಢ
FOXGLQJFRPPHUFLDODSSOLFDWLRQVDQG
WRDOWHULWDQGUHGLVWULEXWHLWIUHHO\VXEಢ
MHFWWRWKHIROORZLQJUHVWULFWLRQV
5HGLVWULEXWLRQVRIVRXUFHFRGH
PXVWUHWDLQWKHDERYHFRS\ULJKW
QRWLFHGHILQLWLRQGLVFODLPHUDQG
WKLVOLVWRIFRQGLWLRQV
5HGLVWULEXWLRQVLQELQDU\IRUP
FRPSLOHGH[HFXWDEOHVPXVWUHಢ
SURGXFHWKHDERYHFRS\ULJKWQRಢ
WLFHGHILQLWLRQGLVFODLPHUDQG
WKLVOLVWRIFRQGLWLRQVLQGRFXPHQಢ
WDWLRQDQGRURWKHUPDWHULDOVSURಢ
YLGHGZLWKWKHGLVWULEXWLRQ7KH
VROHH[FHSWLRQWRWKLVFRQGLWLRQLV
UHGLVWULEXWLRQRIDVWDQGDUG8Qಢ
=LS6);ELQDU\LQFOXGLQJ
6);:L]DVSDUWRIDVHOIH[WUDFಢ
WLQJDUFKLYHWKDWLVSHUPLWWHGZLWಢ
KRXWLQFOXVLRQRIWKLVOLFHQVHDV
ORQJDVWKHQRUPDO6);EDQQHU
KDVQRWEHHQUHPRYHGIURPWKH
ELQDU\RUGLVDEOHG
$OWHUHGYHUVLRQVLQFOXGLQJEXW
QRWOLPLWHGWRSRUWVWRQHZRSHUDಢ
WLQJV\VWHPVH[LVWLQJSRUWVZLWK
QHZJUDSKLFDOLQWHUIDFHVDQG
G\QDPLFVKDUHGRUVWDWLFOLEUDU\
YHUVLRQVPXVWEHSODLQO\PDUNHG
DVVXFKDQGPXVWQRWEHPLVUHಢ
SUHVHQWHGDVEHLQJWKHRULJLQDO
VRXUFH6XFKDOWHUHGYHUVLRQV
DOVRPXVWQRWEHPLVUHSUHVHQWHG
DVEHLQJ,QIR=,3UHOHDVHVLQFOXಢ
GLQJEXWQRWOLPLWHGWRODEHOLQJRI
WKHDOWHUHGYHUVLRQVZLWKWKHQDಢ
PHVಮ,QIR=,3ಯRUDQ\YDULDWLRQ
,QIRUPDFLäQGHFOLHQWHV
WKHUHRILQFOXGLQJEXWQRWOLPLWHG
WRGLIIHUHQWFDSLWDOL]DWLRQVಮ3Rಢ
FNHW8Q=LSಯಮ:L=ಯRUಮ0DF=LSಯ
ZLWKRXWWKHH[SOLFLWSHUPLVVLRQRI
,QIR=,36XFKDOWHUHGYHUVLRQV
DUHIXUWKHUSURKLELWHGIURPPLVUHಢ
SUHVHQWDWLYHXVHRIWKH=LS%XJV
RU,QIR=,3HPDLODGGUHVVHVRURI
WKH,QIR=,385/V
,QIR=,3UHWDLQVWKHULJKWWRXVH
WKHQDPHVಮ,QIR=,3ಯಮ=LSಯ
ಮ8Q=LSಯಮ8Q=LS6);ಯಮ:L=ಯಮ3Rಢ
FNHW8Q=LSಯಮ3RFNHW=LSಯDQG
ಮ0DF=LSಯIRULWVRZQVRXUFHDQG
ELQDU\UHOHDVHV
OLEFXUO
$YLVRGH&RS\ULJKW\SHUPLVRGHOLಢ
FHQFLD
&RS\ULJKWF'DQLHO
6WHQEHUJGDQLHO#KD[[VH!
7RGRVORVGHUHFKRVUHVHUYDGRV
(OSHUPLVRSDUDXVDUFRSLDUPRGLILಢ
FDU\GLVWULEXLUHVWHVRIWZDUHSDUD
FXDOTXLHUILQFRQRVLQWDULIDDSOLFDಢ
EOHVHJDUDQWL]DHQHVWHGRFXPHQWR
VLHPSUHTXHHODYLVRGHFRS\ULJKW\
SHUPLVRGHOLFHQFLDDQWHULRUHVDSDಢ
UH]FDQHQWRGDVODVFRSLDV
(OVRIWZDUHVHSURSRUFLRQDWDOFXDO
VLQJDUDQWÞDGHQLQJëQWLSRH[SUHVDR
LPSOÞFLWDLQFOXLGDVHQWUHRWUDVODVJDಢ
UDQWÞDVGHFRPHUFLDELOLGDGLGRQHLGDG
SDUDXQILQGHWHUPLQDGR\GHQRLQಢ
IUDFFLäQGHGHUHFKRVGHWHUFHURV(Q
QLQJëQFDVRORVDXWRUHVRSURSLHWDಢ
ULRVGHORVGHUHFKRVGHDXWRUVHUÒQ
UHVSRQVDEOHVGHFXDOTXLHUUHFODPDಢ
FLäQGDâRXRWUDUHVSRQVDELOLGDG
VHDQHQHMHFXFLäQGHFRQWUDWRDJUDಢ
YLRVRIXHUDGHOPLVPRTXHVXUMDQFRQ
UHODFLäQFRQHOVRIWZDUHRHOXVRX
RWUDVRSHUDFLRQHVOOHYDGDVDFDER
FRQÚO
6DOYRORPHQFLRQDGRHQHVWHDYLVRHO
QRPEUHGHOSURSLHWDULRGHOFRS\ULJKW
QRGHEHXVDUVHSDUDKDFHUSXEOLFLGDG
QLSURPRFLRQDUODYHQWDXVRXRWUR
WLSRGHPDQLSXODFLäQGHHVWHVRIWಢ
ZDUHVLQHOFRQVHQWLPLHQWRSUHYLR\
SRUHVFULWRGHOSURSLHWDULRGHOFRS\ಢ
ULJKW
XQ]LS
9HUVLäQGHOGHIHEUHURGHGHO
FRS\ULJKW\OLFHQFLDGH,QIR=,3/D
YHUVLäQILQDOGHHVWHGRFXPHQWRGHಢ
EHUÞDHVWDUGLVSRQLEOHHQIWSIWSLQIR
]LSRUJSXELQIR]LSOLFHQVHKWPOGH
IRUPDLQGHILQLGD
&RS\ULJKWF,QIR=,37Rಢ
GRVORVGHUHFKRVUHVHUYDGRV
$HIHFWRVGHHVWHFRS\ULJKW\OLFHQFLD
ಮ,QIR=,3ಯVHGHILQHFRPRODVSHUVRಢ
QDVVLJXLHQWHV
0DUN$GOHU-RKQ%XVK.DUO'DYLV
+DUDOG'HQNHU-HDQ0LFKHO'XERLV
-HDQORXS*DLOO\+XQWHU*RDWOH\(G
*RUGRQ,DQ*RUPDQ&KULV+HUERUWK
'LUN+DDVH*UHJ+DUWZLJ5REHUW
+HDWK-RQDWKDQ+XGVRQ3DXO.LHಢ
QLW]'DYLG.LUVFKEDXP-RKQQ\/HH
2QQRYDQGHU/LQGHQ,JRU0DQGULಢ
FKHQNR6WHYH30LOOHU6HUJLR0Rಢ
QHVL.HLWK2ZHQV*HRUJH3HWURY
*UHJ5RHORIV.DL8ZH5RPPHO
6WHYH6DOLVEXU\'DYH6PLWK6WHYHQ
06FKZHGD&KULVWLDQ6SLHOHU&RVಢ
PLQ7UXWD$QWRLQH9HUKHLMHQ3DXO
YRQ%HKUHQ5LFK:DOHV0LNH:KLWH
(VWHVRIWZDUHVHSURSRUFLRQDಮWDO
FXDOಯVLQJDUDQWÞDGHQLQJëQWLSRH[ಢ
SOÞFLWDQLLPSOÞFLWD1L,QIR=,3QLVXV
FRQWULEXLGRUHVGHEHQVHUUHVSRQVDಢ
EOHVEDMRQLQJXQDFLUFXQVWDQFLDGH
ORVGDâRVGLUHFWRVLQGLUHFWRV
,QIRUPDFLäQGHFOLHQWHV
LQFLGHQWDOHVHVSHFLDOHVRGHULYDGRV
GHOXVRGHRGHODLQFDSDFLGDGGH
XVDUHVWHVRIWZDUH
6HDXWRUL]DDFXDOTXLHUDDXVDUHVWH
VRIWZDUHSDUDFXDOTXLHUILQLQFOXLGDV
ODVDSOLFDFLRQHVFRPHUFLDOHV\DOWHಢ
UDUOR\GLVWULEXLUORJUDWXLWDPHQWHFRQ
ODVVLJXLHQWHVUHVWULFFLRQHV
/DVUHGLVWULEXFLRQHVGHOFäGLJR
IXHQWHGHEHQLQFOXLUHODYLVRGH
FRS\ULJKWGHILQLFLäQ\H[HQFLäQ
GHUHVSRQVDELOLGDGDQWHULRUHVDVÞ
FRPRODOLVWDGHFRQGLFLRQHVVLಢ
JXLHQWHV
/DVUHGLVWULEXFLRQHVHQIRUPDELಢ
QDULDHMHFXWDEOHVFRPSLODGRV
GHEHQUHSURGXFLUHODYLVRGHILQLಢ
FLäQ\H[HQFLäQGHUHVSRQVDELOLಢ
GDGDQWHULRUHVDVÞFRPRHVWDOLVWD
GHFRQGLFLRQHVHQGRFXPHQWRV\
XRWURVPDWHULDOHVSURSRUFLRQDಢ
GRVFRQODGLVWULEXFLäQ/DëQLFD
H[FHSFLäQDHVWDFRQGLFLäQHVOD
UHGLVWULEXFLäQGH8Q=LS6);ELQDಢ
ULRLQFOXLGR6);:L]FRPRSDUWH
GHXQDUFKLYRGHH[WUDFFLäQDXWRಢ
PÒWLFDTXHVHSHUPLWHVLQODLQಢ
FOXVLäQGHHVWDOLFHQFLDVLHPSUH
TXHHOEDQQHUGH6);QRVHKD\D
HOLPLQDGRGHOELQDULRRVHKD\D
GHVKDELOLWDGR
/DVYHUVLRQHVDOWHUDGDVLQFOXLGDV
VLQHVWDUOLPLWDGDVDSXHUWRVDORV
QXHYRVVLVWHPDVRSHUDWLYRV
SXHUWRVH[LVWHQWHVFRQQXHYDVLQಢ
WHUIDFHVJUÒILFDV\YHUVLRQHVGLಢ
QÒPLFDVFRPSDUWLGDVRELEOLRWHFD
HVWÒWLFDGHEHQHVWDUPDUFDGDV
VLPSOHPHQWHFRPRHOORV\QRGHಢ
EHQFRQVLGHUDUVHODIXHQWHRULJLಢ
QDOGHIRUPDIUDXGXOHQWD'LFKDV
YHUVLRQHVDOWHUDGDVWDPSRFRGHಢ
EHQFRQVLGHUDUVHGHIRUPDIUDXಢ
GXOHQWDFRPRHGLFLRQHVGH,QIR
=,3LQFOXLGDVVLQHVWDUOLPLWDGDV
DQRPEUDUODVYHUVLRQHVDOWHUDಢ
GDVFRQORVQRPEUHVಮ,QIR=,3ಯR
FXDOTXLHUYDULDFLäQGHOPLVPRLQಢ
FOXLGDVVLQHVWDUOLPLWDGDVDODV
PD\ëVFXODVಮ3RFNHW8Q=LSಯ
ಮ:L=ಯRಮ0DF=LSಯVLQHOSHUPLVR
H[SOÞFLWRGH,QIR=,36HSURKÞEH
HOXVRGHGLFKDVYHUVLRQHVPRGLಢ
ILFDGDVSDUDXQXVRGHLPDJHQ
IDOVDGHODVGLUHFFLRQHVGHFRUUHR
HOHFWUäQLFRGH=LS%XJVR,QIR
=,3RGHODGLUHFFLäQ85/GH,QIR
=,3
,QIR=,3VHUHVHUYDHOGHUHFKRD
XVDUORVQRPEUHVಮ,QIR=,3ಯಮ=LSಯ
ಮ8Q=LSಯಮ8Q=LS6);ಯಮ:L=ಯಮ3Rಢ
FNHW8Q=LSಯಮ3RFNHW=LSಯ\ಮ0DFಢ
=LSಯSDUDVXSURSLDIXHQWH\HGLಢ
FLRQHVELQDULDV
,QIRUPDFLäQGHFOLHQWHV
5HJLVWURGHGDWRVGHO
YHKÞFXOR\SULYDFLGDG
5HJLVWUDGRUHVGHGDWRV
0äGXORVGHDOPDFHQDPLHQWRGH
GDWRVHQHOYHKÞFXOR
8QJUDQQëPHURGHFRPSRQHQWHV
HOHFWUäQLFRVGHVXYHKÞFXORFRQWLHQHQ
PäGXORVGHDOPDFHQDPLHQWRGHGDಢ
WRVTXHJXDUGDQGHIRUPDWHPSRUDOR
SHUPDQHQWHGDWRVWÚFQLFRVVREUHHO
HVWDGRGHOYHKÞFXORHYHQWRV\HUURಢ
UHV(QJHQHUDOGLFKDLQIRUPDFLäQ
WÚFQLFDGRFXPHQWDHOHVWDGRGHSLHಢ
]DVPäGXORVVLVWHPDVRGHODPಢ
ELHQWH
ထ FRQGLFLRQHVGHIXQFLRQDPLHQWR
GHORVFRPSRQHQWHVGHOVLVWHPD
SRUHMHPSORQLYHOHVGHOOHQDGR
ထ PHQVDMHVGHHVWDGRGHOYHKÞFXOR
\GHVXVFRPSRQHQWHVLQGLYLGXDಢ
OHVSRUHMHPSORUHYROXFLRQHVGH
ODVUXHGDVYHORFLGDGGHURWDFLäQ
GHVDFHOHUDFLäQDFHOHUDFLäQODWHಢ
UDO
ထ
GLVIXQFLRQHV\GHIHFWRVHQFRPಢ
SRQHQWHVGHVLVWHPDVLPSRUWDQಢ
WHV
ထ UHDFFLRQHVGHOYHKÞFXORHQGHWHUಢ
PLQDGDVVLWXDFLRQHVGHFRQGXFಢ
FLäQSRUHMHPSORLQIODGRGHXQ
DLUEDJDFWLYDFLäQGHOVLVWHPDGH
FRQWUROGHHVWDELOLGDG
ထ FRQGLFLRQHVDPELHQWDOHV
SRUHMHPSORWHPSHUDWXUD
(VWRVGDWRVVRQH[FOXVLYDPHQWHGH
FDUÒFWHUWÚFQLFR\D\XGDQDLGHQWLILFDU
\FRUUHJLUHUURUHVDVÞFRPRDRSWLPLಢ
]DUODVIXQFLRQHVGHOYHKÞFXOR
&RQGLFKRVGDWRVQRVHSXHGHQFUHDU
SHUILOHVGHPRYLPLHQWRTXHLQGLTXHQ
ODVUXWDVUHFRUULGDV
(QFDVRGHVHUYLFLRSRUHMHPSORUHಢ
SDUDFLRQHVSURFHVRVGHVHUYLFLRFDಢ
VRVGHJDUDQWÞDFRQWUROGHFDOLGDG
ORVHPSOHDGRVGHODUHGGHVHUYLFLR
LQFOXLGRHOIDEULFDQWHSXHGHQOHHUGLಢ
FKDLQIRUPDFLäQWÚFQLFDGHORVPäGXಢ
ORVGHDOPDFHQDPLHQWRGHGDWRVGH
HYHQWRV\HUURUHVXWLOL]DQGRXQRVGLVಢ
SRVLWLYRVGHGLDJQäVWLFRHVSHFLDOHV
6LIXHUDQHFHVDULRUHFLELUÒPÒVLQIRUಢ
PDFLäQHQGLFKRVWDOOHUHV8QDYH]
FRUUHJLGRXQHUURUVHERUUDUÒQORVGDಢ
WRVGHOPäGXORGHDOPDFHQDPLHQWR
FRUUHVSRQGLHQWHRVHVREUHVFULELUÒQ
&XDQGRVHXVDHOYHKÞFXORSXHGHQ
SURGXFLUVHVLWXDFLRQHVHQODVTXHHVಢ
WRVGDWRVWÚFQLFRVUHODFLRQDGRVFRQ
RWURWLSRGHLQIRUPDFLäQLQIRUPHGH
XQDFFLGHQWHGDâRVHQHOYHKÞFXOR
GHFODUDFLRQHVWHVWLILFDOHVHWFSXHಢ
GDQDVRFLDUVHFRQXQDSHUVRQDHVಢ
SHFÞILFDSRVLEOHPHQWHFRQODDVLVಢ
WHQFLDGHXQH[SHUWR
/DVIXQFLRQHVDGLFLRQDOHVDFRUGDGDV
FRQWUDFWXDOPHQWHFRQHOFOLHQWH
SRUHMHPSORORFDOL]DFLäQGHOYHಢ
KÞFXORHQFDVRVGHHPHUJHQFLDSHUಢ
PLWHQODWUDQVPLVLäQGHGHWHUPLQDGRV
GDWRVGHVGHHOYHKÞFXOR
,QIRUPDFLäQGHFOLHQWHV
,GHQWLILFDFLäQSRU
UDGLRIUHFXHQFLD5),'
/DWHFQRORJÞD5),'VHXWLOL]DHQDOಢ
JXQRVYHKÞFXORVSDUDIXQFLRQHV
FRPRHOFRQWUROGHODSUHVLäQGHORV
QHXPÒWLFRV\ODVHJXULGDGGHOVLVಢ
WHPDGHHQFHQGLGR6HXWLOL]DWDPಢ
ELÚQHQRSFLRQHVGHFRQIRUWFRPRORV
PDQGRVDGLVWDQFLDSDUDHOEORTXHR\
GHVEORTXHRGHSXHUWDV\HODUUDQTXH
DGLVWDQFLDDVÞFRPRHQORVWUDQVPLಢ
VRUHVLQVWDODGRVHQHOYHKÞFXORSDUD
DEULUSXHUWDVGHFRFKHUDV/DWHFQRಢ
ORJÞD5),'HQORVYHKÞFXORV2SHOQR
XWLOL]DQLUHJLVWUDLQIRUPDFLäQSHUVRಢ
QDOQLWLHQHFRQH[LäQFRQFXDOTXLHU
RWURVLVWHPD2SHOTXHFRQWHQJDLQಢ
IRUPDFLäQSHUVRQDO
¾QGLFHDOIDEÚWLFR
$
$FFHVRULRV\PRGLILFDFLRQHVGHO
YHKÞFXOR $FFLRQHHOSHGDO $FHLWHGHOFDPELRDXWRPÒWLFR $FHLWHGHOPRWRU $FHLWHPRWRU $FRSODPLHQWRGHOUHPROTXH $G%OXH $LUEDJV\SUHWHQVRUHVGH
FLQWXURQHV $LUHDFRQGLFLRQDGR $MXVWHGHODVLHQWRHOÚFWULFR $MXVWHGHORVDVLHQWRV $MXVWHGHORVUHSRVDFDEH]DV $MXVWHGHORVUHWURYLVRUHV $MXVWHGHOYRODQWH $MXVWHHOÚFWULFR $MXVWHPDQXDOGHODVLHQWR $MXVWHVPHPRUL]DGRV $OHUWDGHFDPELRGHFDUULO $OHUWDGHFROLVLäQIURQWDO $OHUWDGHSXQWRFLHJRODWHUDO $OHUWDGHWUÒILFRSRUGHWUÒV $OLPHQWDFLäQHOÚFWULFDGHUHVHUYD $OVDOLUGHYLDMH $QWLGHVOXPEUDPLHQWRDXWRPÒWLFR $QWLGHVOXPEUDPLHQWRPDQXDO $UJROODV $UJROODVGHILMDFLäQGHORVDQFODMHV $UUDQTXHFRQFDEOHV $UUDQTXHGHOPRWRU $UUDQTXH\PDQHMR $VLHQWRVGHODQWHURV $VLHQWRVWUDVHURV $VLVWHQWHGHDSDUFDPLHQWR $VLVWHQWHGHDSDUFDPLHQWRSRU
XOWUDVRQLGRV $VLVWHQWHGHDUUDQTXHHQ
SHQGLHQWHV $VLVWHQWHGHHVWDELOLGDGGHO
UHPROTXH $VLVWHQWHGHIUHQDGD $VLVWHQWHGHOX]GHFDUUHWHUD
$VLVWHQWHGHVHâDOHVGHWUÒILFR
$WHQXDFLäQDXWRPÒWLFD $XWRVWRS $YHUÞD $YHUÞDGHOIUHQRGH
HVWDFLRQDPLHQWRHOÚFWULFR $YLVRGHFDPELRGHFDUULO $YLVRVDFëVWLFRV %
%DUUDGHUHPROTXH %DWHUÞDGHOYHKÞFXOR %ORTXHRDXWRPÒWLFR %OXH,QMHFWLRQ %RFLQD %RWLTXÞQ %RWäQGHHQFHQGLGR &
&DGHQDVSDUDQLHYH &ÒPDUDUHWURYLVRUD &DMDGHFDPELRV &DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHFDUJD &DMDGHIXVLEOHVGHO
FRPSDUWLPHQWRGHOPRWRU &DMDGHIXVLEOHVGHOWDEOHURGH
LQVWUXPHQWRV &DOHIDFFLäQ &DOHIDFFLäQGHDVLHQWR &DOHIDFWRUDX[LOLDU &DPELRDXQDPDUFKDPÒVODUJD &DPELRDXWRPÒWLFR &DPELRGHOWDPDâRGH
QHXPÒWLFRV\OODQWDV &DPELRGHUXHGDV &DPELRPDQXDO &DSDFLGDGHV &DSä &DUDFWHUÞVWLFDVGHFRQGXFFLäQ\
UHFRPHQGDFLRQHVSDUDHOXVR
GHOUHPROTXH &DUDFWHUÞVWLFDVGHODLOXPLQDFLäQ &DUJDHQHOWHFKR &DU3DVV &DWDOL]DGRU &HQLFHURV &HQWURGHLQIRUPDFLäQGHO
FRQGXFWRU &LHUUHFHQWUDOL]DGR &LQWXUäQGHVHJXULGDG &LQWXUäQGHVHJXULGDGGHWUHV
SXQWRV &LQWXURQHV &LQWXURQHVGHVHJXULGDG &OLPDWL]DFLäQ &OLPDWL]DGRUDXWRPÒWLFR &RPEXVWLEOH &RPEXVWLEOHSDUD
IXQFLRQDPLHQWRFRQJDV
OLFXDGR &RPEXVWLEOHSDUDPRWRUHVGH
JDVROLQD &RPEXVWLEOHSDUDPRWRUHV
GLÚVHO &RPSDUWLPHQWRGHFDUJD &RPSDUWLPHQWRVSRUWDREMHWRV &RPSUREDFLRQHVGHOYHKÞFXOR &RQPXWDGRUGHODVOXFHV &RQVHUYDFLäQGHODVSHFWR &RQVXPRGHFRPEXVWLEOH
HPLVLRQHVGH&2 &RQWURODGRUGHWHOÚIRQR
LQWHOLJHQWH &RQWURODXWRPÒWLFRGHODVOXFHV &RQWUROGHODLOXPLQDFLäQGHO
WDEOHURGHLQVWUXPHQWRV &RQWUROGHOYHKÞFXOR &RQWUROGHYHORFLGDGDGDSWDEOH
&RQWUROHOHFWUäQLFRGH
HVWDELOLGDG &RQWUROHOHFWUäQLFRGH
HVWDELOLGDGGHVDFWLYDGR &RQWUROHOHFWUäQLFRGH
HVWDELOLGDG\VLVWHPDGH
FRQWUROGHWUDFFLäQ &RUWHGHFRPEXVWLEOHHQ
UÚJLPHQGHUHWHQFLäQ &XDGURGHLQVWUXPHQWRV &XELHUWDGHOFRPSDUWLPHQWRGH
FDUJD &XELHUWDGHOSRUWDREMHWRVGHO
PDOHWHUR &XHQWDNLOäPHWURV &XHQWDNLOäPHWURVSDUFLDO &XHQWDUUHYROXFLRQHV &XLGDGRH[WHULRU &XLGDGRLQWHULRU '
'DWRVGHOPRWRU 'DWRVGHOYHKÞFXOR 'DWRVHVSHFÞILFRVGHOYHKÞFXOR 'HFODUDFLäQGHFRQIRUPLGDG '() 'HVDFWLYDFLäQGHORVDLUEDJV 'HVEORTXHRGHOYHKÞFXOR 'HVLJQDFLRQHVGHORV
QHXPÒWLFRV 'HWHFWDGRYHKÞFXORSUHFHGHQWH 'LPHQVLRQHVGHOYHKÞFXOR 'LUHFFLäQGHHVIXHU]RYDULDEOH 'LVSRVLWLYRGHUHPROTXH 'LVWDQFLDGHVHJXULGDG (
(OHYDOXQDVHOÚFWULFRV (OHYDOXQDVPDQXDOHV (QWUDGDGHDLUH (VSHMRVUHWURYLVRUHVSOHJDEOHV (VWDFLRQDPLHQWR (WLTXHWDGHODLUEDJ )
)DURV )DURVDQWLQLHEOD )DURVGH[HQäQ )DURVHPSDâDGRV )DURVHQYLDMHVDOH[WUDQMHUR )DURVKDOäJHQRV )LOWURGHSDUWÞFXODVGLÚVHO )LOWURGHSROHQ )RUPDFRQYH[D )UHQDGDGHHPHUJHQFLDDFWLYD )UHQRGHHVWDFLRQDPLHQWR )UHQRGHHVWDFLRQDPLHQWR
HOÚFWULFR )UHQRGHPDQR )UHQRV )XQFLRQDPLHQWRUHJXODUGHODLUH
DFRQGLFLRQDGR )XVLEOHV *
*DWR *XDQWHUD +
+HUUDPLHQWDV +HUUDPLHQWDVGHOYHKÞFXOR ,
,GHQWLILFDFLäQGHOPRWRU ,GHQWLILFDFLäQSRU
UDGLRIUHFXHQFLD5),' ,OXPLQDFLäQGHHQWUDGD ,OXPLQDFLäQGHODFRQVRODFHQWUDO ,OXPLQDFLäQGHOWDEOHURGH
LQVWUXPHQWRV ,OXPLQDFLäQGHVDOLGD ,OXPLQDFLäQGLQÒPLFDHQFXUYDV ,OXPLQDFLäQH[WHULRU ,OXPLQDFLäQLQWHULRU ,QGLFDFLäQGHGLVWDQFLDKDFLD
GHODQWH ,QGLFDFLäQGHVHUYLFLR ,QGLFDGRUGHFRPEXVWLEOH ,QGLFDGRUGHWHPSHUDWXUDGHO
UHIULJHUDQWHGHOPRWRU ,QGLFDGRUHV ,QIRUPDFLäQGHVHUYLFLR ,QIRUPDFLäQJHQHUDO ,QIRUPDFLäQVREUHODFDUJD ,QPRYLOL]DFLäQGHOYHKÞFXOR ,QPRYLOL]DGRU ,QWHUPLWHQWHGHODQWHUR ,QWHUPLWHQWHV ,QWHUPLWHQWHVODWHUDOHV ,QWHUUXSFLäQGHFRUULHQWH ,QWURGXFFLäQ -
-XHJRGHUHSDUDFLäQGH
QHXPÒWLFRV /
/LPLWDGRUGHYHORFLGDG /LPSLDODYDOXQHWD /LPSLDODYDSDUDEULVDV /ÞTXLGRGHHVFDSHGLÚVHO /ÞTXLGRGHIUHQRV /ÞTXLGRGHIUHQRV\HPEUDJXH /ÞTXLGRGHODGLUHFFLäQDVLVWLGD /ÞTXLGRGHODYDGR /ÞTXLGRV\OXEULFDQWHV
UHFRPHQGDGRV /ODYHDMXVWHVPHPRUL]DGRV /ODYHV /ODYHVFHUUDGXUDV /XFHVDQWLQLHEOD /XFHVGHDGYHUWHQFLD /XFHVGHFLUFXODFLäQGLXUQD /XFHVGHHPHUJHQFLD /XFHVGHHVWDFLRQDPLHQWR /XFHVGHOHFWXUD /XFHVGHPDUFKDDWUÒV /XFHVHQORVSDUDVROHV /XFHVH[WHULRUHV /XFHVLQWHULRUHV /XFHVODWHUDOHV /XFHVWUDVHUDV /XQHWDWÚUPLFDWUDVHUD /X]GHFDUUHWHUD /X]GHODPDWUÞFXOD 0
0DQGRDGLVWDQFLD 0DQGRV 0DQGRVHQHOYRODQWH 0DQHMRGHOYRODQWH 0HQVDMHVGHOYHKÞFXOR 0RGRDVLVWHQWH 0RGRPDQXDO 1
1HXPÒWLFRVGHLQYLHUQR 1LYHOGHFRPEXVWLEOHEDMR 1ëPHURGHLGHQWLILFDFLäQGHO
YHKÞFXOR 2
2Q6WDU 3
3DODQFDVHOHFWRUD 3DQWDOODGHJDPDDOWD 3DQWDOODGHJDPDPHGLD 3DQWDOODGHLQIRUPDFLäQHQFRORU 3DQWDOODGHQLYHOEÒVLFR 3DQWDOODLQGLFDGRUDGHOFDPELR 3DQWDOODVGHLQIRUPDFLäQ 3DUDEULVDV 3DUDGDDXWRPÒWLFD 3DUDVROHV 3HOLJUR$GYHUWHQFLD\$WHQFLäQ 3HUVLDQDV 3HUVRQDOL]DFLäQGHOYHKÞFXOR 3HVRVGHOYHKÞFXOR 3LORWRDQWLQLHEOD 3LQFKD]R 3ODFDGHFDUDFWHUÞVWLFDV 3RUWDHTXLSDMHVGHWHFKR 3RUWDREMHWRV 3RUWDREMHWRVGHODQWHUR 3RUWDREMHWRVGHOUHSRVDEUD]RV 3RUWDYDVRV 3RVLFLäQGHDVLHQWR 3RVLFLRQHVGHODFHUUDGXUDGHO
HQFHQGLGR 3RVLFLRQHVGHPRQWDMHGHO
VLVWHPDGHUHWHQFLäQLQIDQWLO 3UHFDOHQWDPLHQWR 3UHVLäQGHDFHLWHGHOPRWRU 3UHVLäQGHORVQHXPÒWLFRV 3UHVLRQHVGHORVQHXPÒWLFRV 3UHVWDFLRQHV 3URIXQGLGDGGHOGLEXMR 3URJUDPDVHOHFWUäQLFRVGH
PDUFKD 3URWHFFLäQFRQWUDGHVFDUJDGH
ODEDWHUÞD 3XHUWDDELHUWD 3XHUWDV 3XUJDGHOVLVWHPDGH
FRPEXVWLEOHGLÚVHO 4
4XLFNKHDW 5
5ÒIDJDV 5HDOL]DFLäQGHWUDEDMRV 5HFRJLGDGHYHKÞFXORVXVDGRV 5HFRPHQGDFLRQHVSDUDOD
FRQGXFFLäQ 5HFRQRFLPLHQWRGHVRIWZDUH 5HFRUGDWRULRGHOFLQWXUäQGH
VHJXULGDG 5HGGHVHJXULGDG 5HGXFFLäQFDWDOÞWLFDVHOHFWLYD 5HIULJHUDQWHGHOPRWRU 5HIULJHUDQWH\DQWLFRQJHODQWH 5HJLVWUDGRUHVGHGDWRV 5HJLVWURGHGDWRVGHOYHKÞFXOR\
SULYDFLGDG 5HJXODFLäQGHODOFDQFHGHORV
IDURV 5HJXODGRUGHYHORFLGDG 5HORM 5HPROFDGR 5HPROFDGRGHOYHKÞFXOR 5HPROFDGRGHRWURYHKÞFXOR 5HSDUDFLäQGHGDâRVSRUFROLVLäQ 5HSRVDEUD]RV 5HSRVDFDEH]DV 5HSRVDFDEH]DVDFWLYRV 5HSRVWDMH 5HWURYLVRUHVH[WHULRUHV 5HWURYLVRUHVLQWHULRUHV 5HWURYLVRUHVWÚUPLFRV 5RGDMHGHXQYHKÞFXORQXHYR 5XHGDGHUHSXHVWR 5XHGDV\QHXPÒWLFRV 6
6DOLGDVGHDLUH 6DOLGDVGHDLUHILMDV 6DOLGDVGHDLUHUHJXODEOHV 6HJXULGDGGHOYHKÞFXOR 6HJXURVSDUDQLâRV 6HOHFWRUGHFRPEXVWLEOH 6HâDOL]DFLäQGHJLURV\FDPELRV
GHFDUULO 6HUYLFLR 6ÞPERORV 6LVWHPDDQWLEORTXHRGHIUHQRV 6LVWHPDDQWLEORTXHRGHIUHQRV
$%6 6LVWHPDDQWLUURER 6LVWHPDGHDLUEDJV 6LVWHPDGHDLUEDJVGHFRUWLQD 6LVWHPDGHDLUEDJVIURQWDOHV 6LVWHPDGHDLUEDJVODWHUDOHV 6LVWHPDGHDODUPDDQWLUURER 6LVWHPDGHFDUJD 6LVWHPDGHFOLPDWL]DFLäQGXDO 6LVWHPDGHFRQGXFFLäQ
LQWHUDFWLYD 6LVWHPDGHFRQWUROGHSUHVLäQGH
ORVQHXPÒWLFRV 6LVWHPDGHFRQWUROGHWUDFFLäQ 6LVWHPDGHFRQWUROGHWUDFFLäQ
GHVDFWLYDGR 6LVWHPDGHHVFDSHGHOPRWRU 6LVWHPDGHIDURVDGDSWDWLYRV
6LVWHPDGHIUHQRV\HPEUDJXH 6LVWHPDGHOODYHHOHFWUäQLFD 6LVWHPDHOÚFWULFR 6LVWHPDRUJDQL]DGRUGHODFDUJD 6LVWHPDVGHD\XGDDOD
FRQGXFFLäQ 6LVWHPDVGHFOLPDWL]DFLäQ 6LVWHPDVGHFRQWUROGHOD
FRQGXFFLäQ 6LVWHPDVGHGHWHFFLäQGH
REMHWRV 6LVWHPDVGHUHWHQFLäQLQIDQWLO 6LVWHPDVGHUHWHQFLäQLQIDQWLO
,62),; 6LVWHPDVOLPSLD\ODYDSDUDEULVDV 6LVWHPDVWRSVWDUW 6XVWLWXFLäQGHERPELOODV 6XVWLWXFLäQGHODVHVFRELOODV 7
7DSDFXERV 7DSLFHUÞD 7HFKR 7HFKRVRODU 7HPSHUDWXUDGHOUHIULJHUDQWHGHO
PRWRU 7HPSHUDWXUDH[WHULRU 7HQVLäQGHODSLOD 7HVWLJRGHDYHUÞDV 7HVWLJRVGHFRQWURO 7RPDVGHFRUULHQWH 7UDFFLäQWRWDO 7ULÒQJXORGHDGYHUWHQFLD 8
8VRGHOSUHVHQWHPDQXDO 8VRGHOUHPROTXH 9
9HORFÞPHWUR 9HQWDQLOODV 9HQWLODFLäQ 9LVWDJHQHUDOGHOWDEOHURGH
LQVWUXPHQWRV 9RODQWHWÚUPLFR ZZZRSHOFRP
&RS\ULJKWE\$'$023(/$*5VVHOVKHLP*HUPDQ\
7RGDVODVLQGLFDFLRQHVFRQWHQLGDVHQHVWDSXEOLFDFLyQFRUUHVSRQGHQDODIHFKDGHHGLFLyQLQGLFDGDPiVDEDMR$GDP2SHO$*VHUHVHUYDHOGHUHFKRDLQWURGXFLUPRGLILFDFLRQHVHQOD
WpFQLFDHOHTXLSDPLHQWR\ODIRUPDGHORVYHKtFXORVFRQUHVSHFWRDODVLQGLFDFLRQHVHLOXVWUDFLRQHVUHSURGXFLGDVHQODSUHVHQWHSXEOLFDFLyQDVtFRPRDPRGLILFDUODSURSLDSXEOLFDFLyQ
(GLFLyQHQHUR$'$023(/$*5VVHOVKHLP
,PSUHVRVREUHSDSHOEODQTXHDGRVLQFORUR
.7$HV
(
'
Descargar