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FRPSRQHQWHVGHDOWRULVFRHSHUPLWHDFRPSDUDomRGHSURGXWRVSHODPHGLomRGD
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([LVWH WDPEpP XPD PpWULFD VLPLODU DR 077) 4XDO p SURIHVVRU" e D 0HDQ 7LPH
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GXDVIDOKDVVXFHVVLYDVQRVLVWHPDH[SUHVVDQDPDLRULDGDVYH]HVHPKRUDVHpXPD
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4XDQWRjV0pWULFDVGH4XDOLGDGHGH3URFHVVRHODVVmRXWLOL]DGDVSDUDPHOKRUDUR
GHVHQYROYLPHQWR GH VRIWZDUH H VXD PDQXWHQomR (VWDV PpWULFDV WRUQDPVH PXLWR
LPSRUWDQWHVHPXPSURFHVVRGHGHVHQYROYLPHQWRSRLVPHGHPYiULRVSDUkPHWURV
QDV YiULDV IDVHV GR SURFHVVR 8P H[HPSOR VHULD D (IHWLYLGDGH GH 5HPRomR GH
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GHGHVHQYROYLPHQWRID]FRPTXHVHMDSRVVtYHOPHGLUDHIHWLYLGDGHGHUHPRomRGH
GHIHLWRVHDLQMHomRGHHUURVHFRPLVVRSRGHUUDVWUHDUDVIDVHVTXHPDLVLQMHWDP
HUURVQDDSOLFDomR2XWUDVPpWULFDVVmRQGLFHGH0DQXWHQomRGH(UURV&REHUWXUD
GH7HVWHV&REHUWXUDGH7HVWHV0RGXODUHV)XQFLRQDLVHWF
3RUILPDV0pWULFDVGH4XDOLGDGHGH3URMHWRVmRPDLVYROWDGDVjVFDUDFWHUtVWLFDVGR
SURMHWRHGHVXDH[HFXomRHJHUDOPHQWHVmRPRQWDGDVDSDUWLUGDFRPELQDomRGDV
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HQWDQWRQRVVRHVWXGRWHPTXHVHUREMHWLYRHLVVRFREUHGRTXHFDL
26072658512
3URI'LHJR&DUYDOKRZZZHVWUDWHJLDFRQFXUVRVFRPEU3iJGH
7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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DTXDOLGDGHGHVRIWZDUH&&RPLVVRDVPpWULFDVGHTXDOLGDGHGHFyGLJRIRQWHVmR
PHFDQLVPRVIXQGDPHQWDLVSDUDDYDOLDomRGHVVHVVLVWHPDV
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PDQXWHQomRUH~VRHWF'HVVDIRUPDQyVSRGHPRVDILUPDUTXHXPFyGLJRIRQWH
GH TXDOLGDGH p /HJLELOLGDGH 7HVWDELOLGDGH )OH[LELOLGDGH &RPSDWLELOLGDGH H
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6HROHLWRUQmRFRQVHJXHYHUVHQWLGRQRFyGLJRWRGRVRVRXWURVHVIRUoRVSDUD
PHOKRUDUDTXDOLGDGHGRVRIWZDUHHVWmRIDGDGRVDRIUDFDVVR
7HVWDELOLGDGHRFyGLJRGHYHVHURUJDQL]DGRGHXPDIRUPDTXHIDFLOLWHRWHVWH
GHXQLGDGH,VVRDSRLDWRGRVRVHVIRUoRVVXEVHTXHQWHVUHIDWRUDomRFRUUHomRGH
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26072658512
3URI'LHJR&DUYDOKRZZZHVWUDWHJLDFRQFXUVRVFRPEU3iJGH
7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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VRIWZDUHVmRIRUPDVGHTXDQWLILFDURHVIRUoRQHFHVViULRSDUDD FRQVWUXomRGH
XPVLVWHPDGHVRIWZDUH
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FDPpWULFDGHSRQWRVGHIXQomRVySRGHVHUFDOFXODGDFRPRFyGLJRWHUPLQDGR
GOLQKDVGHFyGLJRHVIRUoRHPHPyULDVmRPpWULFDVGLUHWDV
HPpWULFDVGHSURGXWLYLGDGHLQGLFDPRTXDQWRRVRIWZDUHDWHQGHDRVUHTXLVLWRV
&RPHQWiULRV
D1DYHUGDGHPpWULFDVVmRSDUWHGHXPLQGLFDGRUE1mRVmRPpWULFDVGLUHWDVF
1mRSRGHPVHUFDOFXODGDVDQWHVGXUDQWHHGHSRLVG6LPVmRPpWULFDVGLUHWDVH
1mRHVVDVVmRPpWULFDVGHTXDOLGDGH
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SRGHP VHU GLYLGLGDV HP PHGLGDV GLUHWDV H LQGLUHWDV VRE R SRQWR GH YLVWD GH
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26072658512
GH DSOLFDomR 1HVVH FRQWH[WR DV PpWULFDV TXH VH FRQFHQWUDP QD VDtGD GR
SURFHVVR GH HQJHQKDULD GH VRIWZDUH H DV PpWULFDV TXH LQGLFDP R TXDQWR R
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UHVSHFWLYDPHQWHFRPRPpWULFDVGH
DFXVWRHGHFRPSOH[LGDGHHPPHGLGDVLQGLUHWDV
EHVIRUoRHGHFRQILDELOLGDGHHPPHGLGDVGLUHWDV
FSURGXWLYLGDGHHGHTXDOLGDGHHPPHGLGDVLQGLUHWDV
GTXDOLGDGHHGHHILFLrQFLDHPPHGLGDVGLUHWDV
HYHORFLGDGHGHH[HFXomRHWpFQLFDHPPHGLGDVGLUHWDV
3URI'LHJR&DUYDOKRZZZHVWUDWHJLDFRQFXUVRVFRPEU3iJGH
7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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3URI'LHJR&DUYDOKR$XOD
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VRIWZDUH
FSURGXWLYLGDGHSDUDRVRIWZDUHHTXDOLGDGHSDUDRSURFHVVRGHHQJHQKDULDGH
VRIWZDUHUHVSHFWLYDPHQWH
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HTXDOLGDGHSDUDRVRIWZDUHHSURGXWLYLGDGHSDUDRSURFHVVRGHHQJHQKDULDGH
VRIWZDUHUHVSHFWLYDPHQWH
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0pWULFDV'LUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVEiVLFDVRXTXDQWLWDWLYDVVmR
DTXHODV TXH QmR GHSHQGHP GD PHGLomR GH RXWURV DWULEXWRV SRU H[HPSOR
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0pWULFDV,QGLUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVGHULYDGDVRXTXDOLWDWLYDV
26072658512
VmR DTXHODV TXH GHSHQGHP GD PHGLomR GH RXWURV DWULEXWRV 3RU H[HPSOR
SURGXWLYLGDGH TXDOLGDGH H WpFQLFDV IXQFLRQDOLGDGH FRPSOH[LGDGH HILFLrQFLD
FRQILDELOLGDGHPDQXWHQLELOLGDGHPRGXODULGDGHSRUWDELOLGDGH
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GHXVDELOLGDGHGLVSRQLELOLGDGHpXPDPpWULFDGHFRQILDELOLGDGH
*DEDULWR%
26072658512
&(63(6(5352$QDOLVWD'HVHQYROYLPHQWRGH6LVWHPDV$VPpWULFDV
H[WHUQDV IRUQHFHP DRV XVXiULRV D SRVVLELOLGDGH GH PHGLU D TXDOLGDGH GRV
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VLVWHPD FRPR SURMHWR SURJUDPD RX GRFXPHQWDomR VHP D QHFHVVLGDGH GD
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FRPSUHHQVmR H PDQXWHQomR GH XP VLVWHPD GH VRIWZDUH 3HUPLWHP PHGLU D
TXDOLGDGHGRVDUWHIDWRVLQWHUPHGLiULRVHSUHYHUDTXDOLGDGHGRSURGXWRILQDO
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7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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3URI'LHJR&DUYDOKR$XOD
0pWULFDV'LQkPLFDVRX([WHUQDVVmRDTXHODVFROHWDGDVGXUDQWHDH[HFXomRGHXP
SURJUDPDDSDUWLUGRFRPSRUWDPHQWRGRVLVWHPDRXGRVHXHIHLWRQRDPELHQWH
UHDO GH RSHUDomR (ODV DMXGDP D DYDOLDU D HILFLrQFLD H D FRQILDELOLGDGH GH XP
SURJUDPD H TXDVH VHPSUH HVWmR UHODFLRQDGDV FRP DWULEXWRV GD TXDOLGDGH GH
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UHDOSHORXVXiULR
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0pWULFDV (VWiWLFDV RX ,QWHUQDV VmR DTXHODV FROHWDGDV HP UHSUHVHQWDo}HV GR
VLVWHPD FRPR SURMHWR SURJUDPD RX GRFXPHQWDomR VHP D QHFHVVLGDGH GD
H[HFXomRGRVSURJUDPDV$MXGDPDPHQVXUDUDFRPSOH[LGDGHHDIDFLOLGDGHGH
FRPSUHHQVmR H PDQXWHQomR GH XP VLVWHPD GH VRIWZDUH 3HUPLWHP PHGLU D
TXDOLGDGHGRVDUWHIDWRVLQWHUPHGLiULRVHSUHYHUDTXDOLGDGHGRSURGXWRILQDO
0pWULFDV'LQkPLFDVRX([WHUQDVVmRDTXHODVFROHWDGDVGXUDQWHDH[HFXomRGHXP
SURJUDPDDSDUWLUGRFRPSRUWDPHQWRGRVLVWHPDRXGRVHXHIHLWRQRDPELHQWH
UHDO GH RSHUDomR (ODV DMXGDP D DYDOLDU D HILFLrQFLD H D FRQILDELOLGDGH GH XP
26072658512
SURJUDPD H TXDVH VHPSUH HVWmR UHODFLRQDGDV FRP DWULEXWRV GD TXDOLGDGH GH
VRIWZDUH
&RQIRUPHYLPRVHPDXODHVVDpXPDIXQomRGDVPpWULFDVH[WHUQDV
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PpWULFDV GH VRIWZDUH SRGHP VHU FODVVLILFDGDV HP PHGLGDV GLUHWDV RX
TXDQWLWDWLYDVHPHGLGDVLQGLUHWDVRXTXDOLWDWLYDV
3URI'LHJR&DUYDOKRZZZHVWUDWHJLDFRQFXUVRVFRPEU3iJGH
7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
&XUVRGH7HRULDH([HUFtFLRV7&(6&
3URI'LHJR&DUYDOKR$XOD
&RPHQWiULRV
0pWULFDV'LUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVEiVLFDVRXTXDQWLWDWLYDVVmR
DTXHODV TXH QmR GHSHQGHP GD PHGLomR GH RXWURV DWULEXWRV SRU H[HPSOR
FXVWRHVIRUoR GR GHVHQYROYLPHQWR OLQKDV GH FyGLJR YHORFLGDGH GH H[HFXomR
TXDQWLGDGHGHPHPyULDQ~PHURGHHUURVTXDQWLGDGHGHGHIHLWRV
0pWULFDV,QGLUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVGHULYDGDVRXTXDOLWDWLYDV
VmR DTXHODV TXH GHSHQGHP GD PHGLomR GH RXWURV DWULEXW 3RU H[HPSOR
SURGXWLYLGDGH TXDOLGDGH H WpFQLFDV IXQFLRQDOLGDGH FRPSOH[LGDGH HILFLrQFLD
FRQILDELOLGDGHPDQXWHQLELOLGDGHPRGXODULGDGHSRUWDELOLGDGH
&RQIRUPHYLPRVHPDXODDTXHVWmRHVWiSHUIHLWD
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0pWULFDVTXDQWLWDWLYDVQRUPDOPHQWHH[LJHPDQiOLVHHHVWmRUHODFLRQDGDVFRPD
IXQFLRQDOLGDGHDTXDOLGDGHDFRPSOH[LGDGHHDPDQXWHQomRGRVRIWZDUH
&RPHQWiULRV
0pWULFDV'LUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVEiVLFDVRXTXDQWLWDWLYDVVmR
DTXHODV TXH QmR GHSHQGHP GD PHGLomR GH RXWURV DWULEXWRV SRU H[HPSOR
FXVWRHVIRUoR GR GHVHQYROYLPHQWR OLQKDV GH FyGLJR YHORFLGDGH GH H[HFXomR
TXDQWLGDGHGHPHPyULDQ~PHURGHHUURVTXDQWLGDGHGHGHIHLWRV
0pWULFDV,QGLUHWDVWDPEpPFRQKHFLGDVFRPRPpWULFDVGHULYDGDVRXTXDOLWDWLYDV
VmR DTXHODV TXH GHSHQGHP GD PHGLomR GH RXWURV DWULEXWRV 3RU H[HPSOR
26072658512
3URI'LHJR&DUYDOKRZZZHVWUDWHJLDFRQFXUVRVFRPEU3iJGH
7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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3URI'LHJR&DUYDOKR$XOD
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0pWULFDV2ULHQWDGDVD7DPDQKRVmRDTXHODVEDVHDGDVQRQ~PHURGHOLQKDVGH
FyGLJRSURGX]LGDVWDPEpPFRQKHFLGDVFRPR/LQHV2I&RGH/2&
0pWULFDV 2ULHQWDGDV j )XQomR VmR DTXHODV EDVHDGDV QD IXQFLRQDOLGDGH GR
VRIWZDUHWDLVFRPR$QiOLVHGH3RQWRVGH)XQomR
0pWULFDV2ULHQWDGDVD3HVVRDVVmRDTXHODVTXHLQGLFDPDIRUPDFRPRDVSHVVRDV
GHYHPGHVHQYROYHUSURJUDPDVGHFRPSXWDGRU
&RQIRUPHYLPRVHPDXODDTXHVWmRWUDWDGDVPpWULFDVRULHQWDGDVjIXQomR
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SURGXWR GLQkPLFDV VmR FROHWDGDV SRU PHLR GH PHGLo}HV UHDOL]DGDV HP
UHSUHVHQWDo}HV GR VLVWHPD FRPR SURMHWR SURJUDPD RX GRFXPHQWDomR DR
SDVVR TXH PpWULFDV GH SURGXWR HVWiWLFDV VmR FROHWDGDV HP SURJUDPDV HP
H[HFXomR
&RPHQWiULRV
0pWULFDV (VWiWLFDV RX ,QWHUQDV VmR DTXHODV FROHWDGDV HP UHSUHVHQWDo}HV GR
VLVWHPD FRPR SURMHWR SURJUDPD RX GRFXPHQWDomR VHP D QHFHVVLGDGH GD
H[HFXomRGRVSURJUDPDV$MXGDPDPHQVXUDUDFRPSOH[LGDGHHDIDFLOLGDGHGH
FRPSUHHQVmR H PDQXWHQomR GH XP VLVWHPD GH VRIWZDUH 3HUPLWHP PHGLU D
TXDOLGDGHGRVDUWHIDWRVLQWHUPHGLiULRVHSUHYHUDTXDOLGDGHGRSURGXWRILQDO
26072658512
0pWULFDV'LQkPLFDVRX([WHUQDVVmRDTXHODVFROHWDGDVGXUDQWHDH[HFXomRGHXP
SURJUDPDDSDUWLUGRFRPSRUWDPHQWRGRVLVWHPDRXGRVHXHIHLWRQRDPELHQWH
UHDO GH RSHUDomR (ODV DMXGDP D DYDOLDU D HILFLrQFLD H D FRQILDELOLGDGH GH XP
SURJUDPD H TXDVH VHPSUH HVWmR UHODFLRQDGDV FRP DWULEXWRV GD TXDOLGDGH GH
VRIWZDUH
&RQIRUPHYLPRVHPDXODDTXHVWmRLQYHUWHXRVFRQFHLWRV
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W <>KWD Y <>K
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7HFQRORJLDGD,QIRUPDomRS$XGLWRUGH&RQWUROH([WHUQR
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3URI'LHJR&DUYDOKR$XOD
&(63( $17$4 $QDOLVWD$GPLQLVWUDWLYR ,QIRUPiWLFD 'RLVWLSRVGH
PpWULFDVWrPVLGRXVDGRVSDUDHVWLPDWLYDVGHSURGXWLYLGDGHGRGHVHQYROYLPHQWR
GHVRIWZDUHDVUHODFLRQDGDVDWDPDQKRGHDOJXPUHVXOWDGRGHXPDDWLYLGDGH
FRPRSRUH[HPSOROLQKDVGHFyGLJRIRQWHHQWUHJXHVQ~PHURGHLQVWUXo}HVGH
FyGLJR REMHWR Q~PHUR GH SiJLQDV GH GRFXPHQWDomR H DV UHODFLRQDGDV D
IXQo}HVIXQFLRQDOLGDGHJHUDOGRVRIWZDUHHQWUHJXH$SURGXWLYLGDGHpH[SUHVVD
HPWHUPRVGHTXDQWLGDGHGHIXQFLRQDOLGDGH~WLOSURGX]LGDHPXPGDGRWHPSR
FRPRSRUH[HPSORSRQWRVSRUIXQomRSRQWRVSRUREMHWR
&RPHQWiULRV
0pWULFDV2ULHQWDGDVD7DPDQKRVmRDTXHODVEDVHDGDVQRQ~PHURGHOLQKDVGH
FyGLJRSURGX]LGDVWDPEpPFRQKHFLGDVFRPR/LQHV2I&RGH/2&
0pWULFDV 2ULHQWDGDV j )XQomR VmR DTXHODV EDVHDGDV QD IXQFLRQDOLGDGH GR
VRIWZDUHWDLVFRPR$QiOLVHGH3RQWRVGH)XQomR
0pWULFDV2ULHQWDGDVD3HVVRDVVmRDTXHODVTXHLQGLFDPDIRUPDFRPRDVSHVVRDV
GHYHPGHVHQYROYHUSURJUDPDVGHFRPSXWDGRU
&RQIRUPHYLPRVHPDXODDTXHVWmRHVWiSHUIHLWD
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VmR HP JHUDO VXEMHWLYDV R TXH LPSRVVLELOLWD D DYDOLDomR GH XP VLVWHPD SRU
HTXLSHVGLIHUHQWHV
26072658512
&RPHQWiULRV
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