英国康乐管理论文代写：了解如何衡量风险和回报
了解如何衡量风险(市场贝塔)和回报(预期回报率)是非常重要的。当业务理解所需的措施,那么它将更好地继续使用NPV妙语公式将不得不告诉业务预期回报的投资项目需要提供商业风险的补偿。因此，当业务能够确定业务项目NPV计算所需的适当资本成本时，业务可能能够启动项目。然而，NPV公式看起来很简单，但实际应用起来可能会很困难。在这方面当项目经理意识到业务项目将无法给预期回报计划的商业投资者赚到另一个地方同样有风险的项目相比,这是明智的,经理人们不应把投资者的钱放入项目相反,他们只是应该归还他们的钱。在这方面，如果项目提供了更多的预期回报，管理者应该继续并将他们的钱投资到项目中(Dainty & Anderson, 2008)。
英国康乐管理论文代写：了解如何衡量风险和回报
因此，重要的是要注意，完美的市场假设是不够的，因此，作为一个管理者，需要假设投资者会喜欢投资组合的整体回报，也不喜欢回报的整体标准差。此外，管理者应该使用资本资产定价模型(CAPM)，因为当他们给项目相关特征时，资本资产定价模型为项目提供了最合适的预期收益率。该模型认为，投资的资本成本应该更低，因为它为持有整体市场投资组合的投资者提供了更好的多元化收益。因此，市场贝塔衡量的是市场风险。然而，对于那些带来更多风险的项目(市场beta)，企业使用它们需要更高的预期回报率，而那些带来较少风险的项目，企业使用它们需要非常低的预期回报率。该模型以资产的贝塔值、无风险利率和股票风险溢价为基础。
英国康乐管理论文代写：了解如何衡量风险和回报
It is of great significance that one understands the risk (market beta) and the reward (expected rate of return) how they are measured. When the business gets to understand the required measure, then it will be in a better position to proceed to the punch line by using the NPV formula that will have to tell the business about the expected return the investment project need to provide for the compensation of business risks. Therefore when the business is in the position of determining the appropriate costs of capital that is required for the business project NPV calculations the business may be able to start the project. Nevertheless, the NPV formula may seem to be simple but its application may turn out to be hard. In this regard when the project manager realized that the business project will not be able to give the expected return as planned by the business investors earning when compared to another place with a similar risky project, it is advisable that as the manager one should not place the investors’ money into the project instead they are just supposed to give back their money. In this regard if the project gives more of the expected return, the manager should go ahead and invest their money into the project (Dainty & Anderson, 2008).
英国康乐管理论文代写：了解如何衡量风险和回报
Accordingly it is important note that the perfect market assumptions are not enough to proceed, therefore as a manager it is required that the manager assume that the investor will like the overall portfolio reward and also dislike overall standard deviation of return. Moreover, the manager is supposed to use the capital asset pricing model (CAPM), since it offer the most appropriate expected rate of return for the project when they give the project the relevant characteristics. According to the model, it states that an investment’s cost of capital is supposed to be lower for it offer a better diversification benefits for the investor holding the overall market portfolio. Consequently the market beta measures the market risk. However, foe those projects that contributes more risk (market beta) require a higher expected rate of return the business to make use of them, while projects that contributes less risk they require a very low expected rate of return for the business to use them. The model bases its relationship on the asset’s beta, the risk-free rate and the equity risk premium.