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3DXOR+DPLOWRQ6LTXHLUD-U
5HQDWD3DUDGD5HLQD
6yFLRVGR(VFULWyULR/DYtWROD6LTXHLUDH5HLQD6RFLHGDGHGH$GYRJDGRV
1RV~OWLPRVPHVHVDVVLVWLPRVRUHFRQKHFLPHQWRGRGDQRVRFLDOHPWXWHODLQGLYLGXDOWUDEDOKLVWD$IRUDDLPSRUWkQFLDGRWHPDKiXPDTXHVWmRTXHSDVVRXDR
ODUJRGDGLVFXVVmRTXHVmRDVWpFQLFDVGHGHFLVmRXWLOL]DGDVQDVGHPDQGDVLQGLYLGXDLVHFROHWLYDV
1mRKiG~YLGDTXHD&RQVWLWXLomR)HGHUDOHRVLVWHPDMXUtGLFRSiWULRSURWHJHPGLUHLWRVLQGLYLGXDLVHFROHWLYRV2VGLUHLWRVLQGLYLGXDLVVmRLQHUHQWHVDR
LQGLYtGXRRXSHVVRDKRPHPHPXOKHU2VGLUHLWRVFROHWLYRVVmRLQHUHQWHVjFDWHJRULDJUXSRRXFODVVHGHSHVVRDV$OJXQVGLUHLWRVFROHWLYRVVmRGLUHLWRV
LQGLYLGXDLVGHH[SUHVVmRFROHWLYDFRPRDVOLEHUGDGHVGHUHXQLmRHDVVRFLDomR9HULILFDPRVGXDVFDWHJRULDVSURWHJLGDVSHOR(VWDGRKRPHPLQGLYtGXRH
KRPHPPHPEURGHXPDFROHWLYLGDGH
2VGLUHLWRVVRFLDLVSRVVXHPQDWXUH]DFROHWLYDQDPHGLGDHPTXHVmRSUHVVXSRVWRVGRJR]RGRVGLUHLWRVLQGLYLGXDLV&ULDPFRQGLo}HVSDUDR
GHVHQYROYLPHQWRGRVGLUHLWRVSHVVRDLV'LUHLWRVVRFLDLVHVWmRSUHYLVWRVQD&RQVWLWXLomRHQDOHJLVODomRLQIUDFRQVWLWXFLRQDO
(PUHVXPRGHIRUPDVLPSOLVWDRGLUHLWRLQGLYLGXDOpSHVVRDO2GLUHLWRVRFLDOpGHWRGRV2VFLWDGRVGLUHLWRVLQGLYLGXDLVHFROHWLYRVVmRSURWHJLGRVSHOR
VLVWHPDMXUtGLFR7RGRGLUHLWRSRVVXLXPDDomRMXGLFLDOTXHRDVVHJXUD3RLVEHPRVGLUHLWRVLQGLYLGXDLVVmRSURWHJLGRVSHODVDo}HVLQGLYLGXDLVDRSDVVR
TXHRVGLUHLWRVFROHWLYRVVmRSURWHJLGRVSHODGHPDQGDVFROHWLYDV
2VGLUHLWRVLQGLYLGXDLVVmRRVGLUHLWRVSUySULRVHH[FOXVLYRVGRVLQGLYtGXRVDTXHOHVTXHVRPHQWHDSHVVRDLQGLYLGXDOHPVXDTXDOLGDGHGHSHVVRDKXPDQD
SRGHVHUWLWXODU$VVLPVRPHQWHDSHVVRDItVLFDRXMXUtGLFDSRVVXLOHJLWLPLGDGHSURFHVVXDOSDUDHVWDUHPMXt]RGLVFXWLQGRRVUHIHULGRVGLUHLWRV
2VGLUHLWRVFROHWLYRVRXVRFLDLVVmRGLUHLWRVGHWRGRVRXVHMDDFROHWLYLGDGHpWLWXODU$OHJLWLPLGDGHGRVGLUHLWRVFROHWLYRVpFRQIHULGDDGHWHUPLQDGDV
LQVWLWXLo}HVFRPRRVVLQGLFDWRVDVVRFLDo}HVHSULQFLSDOPHQWHR0LQLVWpULR3~EOLFR
$UHIHULGDGLIHUHQFLDomRpLPSRUWDQWHHPHVSHFLDOQRTXHVHUHIHUHjWpFQLFDGHGHFLVmRMXGLFLDO$WXWHODLQGLYLGXDODOFDQoDDVSDUWHVSURFHVVXDLVRXVHMD
JHUDHIHLWRHQWUHDVSDUWHV-iQDWXWHODFROHWLYDDGHFLVmRMXGLFLDOJHUDHIHLWRSDUDWRGRVRXSDUDGHWHUPLQDGDFROHWLYLGDGH3RLVEHPDOJXPDV
GHFLV}HVMXGLFLDLVLQRYDPDRWUD]HUSDUDRVSURFHVVRVLQGLYLGXDLVTXHVW}HVFROHWLYDVSURYRFDQGRYHUGDGHLUDPRGLILFDomRQRVLVWHPDMXUtGLFRRTXHVHGLJD
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IXQomROHJLIHUDQWHQXPDVHDUDGHDWLYLVPRMXGLFLDO
1mRKiG~YLGDGDOHJLWLPLGDGHGD-XULVGLomRHPEDVDGDQDSURWHomRGDVPLQRULDVGRVGLUHLWRVIXQGDPHQWDLVHGRVYDORUHVGDMXVWLoD2FRUUHTXHHVWi
DWLYLGDGHGHYHVHUH[HUFLGDHPDomRSUySULDRXVHMDQDVGHPDQGDVFROHWLYDVVRESHQDGR-XGLFLiULRH[WUDSRODULQFOXVLYHRSHGLGRGDVSDUWHV
2UDRSHGLGRGDSDUWHpGLUHLWRWUDEDOKLVWDLQGLYLGXDO1mRKiIXQGDPHQWRSDUDTXHRPDJLVWUDGRH[WUDSROHRSHGLGRUHFRQKHFHQGROHVmRVRFLDOH
FRQGHQDQGRDSDUWHDPXOWD(VWHIDWRSUHFLVDVHUH[SORUDGRQRV7ULEXQDLVSDUDTXHVHUHFRQKHoDHVWDLPSRVVLELOLGDGHHQmRKDMDRIHQVDDRVLVWHPD
MXUtGLFRSURFHVVXDO
5HVWDFODURTXHHVVDVQRUPDVGHYHPVHUDSOLFDGDVHPGHPDQGDSUySULDVRESHQDGHRIHQVDDRVLVWHPDMXUtGLFRDRGHYLGRSURFHVVROHJDOHDSUySULD
GHIHVDGDHPSUHVDTXHVHGHIHQGHGHGHPDQGDLQGLYLGXDOHpVXUSUHHQGLGRFRPXPYLpVFROHWLYR

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