,QKRXG ,QOHLGLQJ .RUW HQ ERQGLJ 6OHXWHOV SRUWLHUHQ HQ UXLWHQ 6WRHOHQ YHLOLJKHLGVV\VWHPHQ 2SEHUJHQ ,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 9HUOLFKWLQJ ,QIRWDLQPHQWV\VWHHP .
,QOHLGLQJ ,QOHLGLQJ
,QOHLGLQJ ,QOHLGLQJ 8Z DXWR LV GH LQWHOOLJHQWH FRPELQDWLH YDQ YHUQLHXZHQGH WHFKQLHN RYHUWXLಢ JHQGH YHLOLJKHLG PLOLHXYULHQGHOLMNಢ KHLG HQ ]XLQLJKHLG ,Q GH]H JHEUXLNHUVKDQGOHLGLQJ YLQGW X DOOH LQIRUPDWLH GLH X QRGLJ KHEW RP XZ DXWR YHLOLJ HQ HIILFLÜQW WH NXQQHQ EHGLHQHQ =RUJ HUYRRU GDW XZ SDVVDJLHUV HUYDQ RS GH KRRJWH ]LMQ GDW RQMXLVW JHEUXLN YDQ GH DXWR HHQ RQJHYDO WRW JHYROJ NDQ KHEEHQ HQ GDW HU ULVLFR EHVWDDW YDQ SHUVRRQOLMN OHWVHO +RXG X DOWLMG DDQ GH VSHFLILHNH ZHWಢ JHYLQJ YDQ KHW ODQG ZDDULQ X ]LF
,QOHLGLQJ :DDUVFKXZLQJ 7HNVWHQ PHW GH YHUPHOGLQJ : :DDUVFKXZLQJ ZLM]HQ RS HHQ PRJHOLMN JHYDDU YRRU RQJHOXNNHQ RI YHUZRQGLQJHQ +HW QLHW QDOHYHQ YDQ GH]H ULFKWOLMQHQ NDQ WRW YHUಢ ZRQGLQJHQ OHLGHQ 9RRU]LFKWLJ 7HNVWHQ PHW GH YHUPHOGLQJ 9RRU]LFKWLJ ZLM]HQ HURS GDW GH DXWR PRJHOLMN EHVFKDGLJG NDQ UDಢ NHQ +HW QLHW QDOHYHQ YDQ GH]H ULFKWOLMQHQ NDQ WRW EHVFKDGLJLQJ YDQ GH DXWR OHLGHQ :H ZHQVHQ X YHOH XUHQ DXWRULMSOH]LHU &KHYUROHW
,QOHLGLQJ
.RUW HQ ERQGLJ .
.RUW HQ ERQGLJ 5XJOHXQLQJ YRRUVWRHOHQ =LWKRRJWH +RRIGVWHXQYHUVWHOOLQJ +RRJWHYHUVWHOOLQJ $DQ GH KHQGHO WUHNNHQ GH UXJOHXQLQJ LQVWHOOHQ HQ GH KHQGHO ORVODWHQ 'H VWRHO KRRUEDDU ODWHQ YDVWNOLNNHQ %LM KHW YHUVWHOOHQ GH UXJOHXQLQJ QLHW EHODVWHQ 6WRHOSRVLWLH VWRHOYHUVWHOOLQJ +DDO GH KHQGHO DDQ GH EXLWHQNDQW YDQ GH VWRHO]LWWLQJ RPKRRJ RI RPODDJ WRW GH ]LWWLQJ LQ GH JHZHQVWH VWDQG VWDDW 2P GH VWRHO]LWWLQJ ODJHU WH VWHOOHQ GUXNW X GH KHQGHO HHQ SDDU NHHU RPಢ ODDJ 2P GH VWRHO]LWWLQJ KRJHU WH V
.RUW HQ ERQGLJ +RUL]RQWDOH YHUVWHOOLQJ 9HLOLJKHLGVJRUGHO 6SLHJHOYHUVWHOOLQJ %LQQHQVSLHJHO 7UHN GH KRRIGVWHXQ QDDU YRUHQ 'H]H LV LQ GULH VWDQGHQ LQVWHOEDDU 7UHN GH KRRIGVWHXQ QDDU YRUHQ RP GH]H QDDU DFKWHUHQ WH YHUVWHOOHQ +LM EHZHHJW YHUYROJHQV DXWRPDWLVFK QDDU DFKಢ WHUHQ *RUGHO XLW GH RSURODXWRPDDW WUHNNHQ ]RQGHU WH YHUGUDDLHQ YRRU X ODQJV KDಢ OHQ HQ GH JHVS LQ KHW VORW YDVWNOLNNHQ +HXSJRUGHO WLMGHQV KHW ULMGHQ YDQ WLMG WRW WLMG VWUDN WUHNNHQ GRRU DDQ GH VFKRXGHUJRUGHO WH WUHNNHQ 6WRHOSRVLWLH
.RUW HQ ERQGLJ %XLWHQVSLHJHOV 6WXXUZLHO LQVWHOOHQ %HZHHJ KHW KHQGHOWMH JHZRRQ LQ GH JHZHQVWH ULFKWLQJ RP GH VSLHJHOVWDQG DDQ WH SDVVHQ %ROOH EXLWHQVSLHJHOV HOHNWULಢ VFKH YHUVWHOOLQJ LQNODSEDUH EXLWHQVSLHJHOV YHUZDUPGH EXLWHQVSLHJHOV +HQGHO RPODDJEHZHJHQ VWXXUZLHO LQVWHOOHQ KHQGHO RPKRRJEHZHJHQ HQ YHUJUHQGHOHQ 6WXXUZLHO XLWVOXLWHQG ELM VWLOVWDDQGH DXWR YHUVWHOOHQ $LUEDJV\VWHHP FRQWDFWVORWಢ VWDQGHQ
.RUW HQ ERQGLJ 2YHU]LFKW LQVWUXPHQWHQSDQHHO
.RUW HQ ERQGLJ =LMGHOLQJVH OXFKWURRVWHUV 5LMYHUOLFKWLQJ ,QVWHOOHQ NRSODPSUHLNZLMGWH 5LFKWLQJDDQZLM]HUV &UXLVH FRQWURO ,QVWUXPHQWHQJURHS &OD[RQ %HVWXXUGHUVDLUEDJ 6WXXUEHGLHQLQJVNQRSSHQ :LV HQ ZDVLQVWDOODWLH 0LGGHOVWH OXFKWURRVWHUV ,QIRUPDWLHGLVSOD\ LQ GDVKER
.RUW HQ ERQGLJ GH NRSODPSHQ HQ DOOH ERYHQJHಢ QRHPGH YHUOLFKWLQJ JDDW EUDQGHQ /LFKWVFKDNHODDU LQGUXNNHQ YRRUPLVWODPSHQ P PLVWDFKWHUOLFKW 9HUOLFKWLQJ /LFKWVLJQDDO JURRWOLFKW HQ GLPOLFKW 2P YDQ GLPOLFKW QDDU JURRWOLFKW RP WH VFKDNHOHQ GXZW X WHJHQ GH KHQGHO 2P KHW GLPOLFKW LQ WH VFKDNHOHQ GXZW X QRJPDDOV WHJHQ GH KHQGHO RI X WUHNW HUDDQ *URRWOLFKW OLFKWVLJQDDO $ODUPNQLSSHUOLFKWHQ %HGLHQLQJ PHW WRHWV e $ODUPNQLSSHUOLFKWHQ
.RUW HQ ERQGLJ 5LFKWLQJDDQZLM]HUV &OD[RQ :LV ZDVLQVWDOODWLH 9RRUUXLWZLVVHUV +HQGHO RPKRRJ +HQGHO RPODDJ 5LFKWLQJDDQZLM]HU UHFKWV 5LFKWLQJDDQZLM]HU OLQNV 5LFKWLQJDDQZLM]HUV H LQGUXNNHQ &RQWLQX ZLVVHQ KRJH VQHOKHLG &RQWLQX ZLVVHQ ODJH VQHOKHLG 3 ,QWHUYDOVWDQG 2 6\VWHHP XLW 4 :DVHPIXQFWLH 9RRU HHQ HQNHOH ZLVVHUVODJ WHUZLMO GH UXLWHQZLVVHUV YDQ GH YRRUUXLW XLWJHಢ VFKDNHOG ]LMQ EHZHHJW X GH KHQGHO LHWV RPODDJ HQ ODDW X KHP ZHHU ORV 9RRUUXLWZLVVHUV
.RUW HQ ERQGLJ 9RRUUXLWVSURHLHUV :LV ZDVLQVWDOODWLH DFKWHUUXLW DOOHHQ KDWFKEDFN 6SURHLHU :LVVHU +HQGHO QDDU X WRH WUHNNHQ 9RRUUXLWVSURHLHUV VSURHLHUಢ YORHLVWRI 'UXN RS GH ERYHQNDQW YDQ GH VFKDಢ NHODDU RP GH ZLVVHU FRQWLQX WH ODWHQ ZHUNHQ 'UXN RS GH RQGHUNDQW YDQ GH VFKDಢ NHODDU RP GH ZLVVHU PHW LQWHUYDOOHQ WH ODWHQ ZHUNHQ =HW GH ZLVVHU LQ GH QHXWUDDOVWDQG RP GH]H XLW WH ]HWWHQ :LV ZDVLQVWDOODWLH DFKWHUUXLW DOOHHQ KDWFKEDFN 'UXN GH KHQGHO QDDU KHW GDVKERDUG WRH (U ZRUGW
.RUW HQ ERQGLJ .OLPDDWUHJHOLQJ 9HUZDUPEDUH DFKWHUUXLW YHUZDUPEDUH EXLWHQVSLHJHOV ^ WRHWV LQGUXNNHQ RP YHUZDUPLQJ LQ WH VFKDNHOHQ 9HUZDUPGH VSLHJHOV DFKWHUಢ UXLWYHUZDUPLQJ 5XLWHQ RQWZDVHPHQ HQ RQWGRRLHQ 'UDDL GH OXFKWYHUGHHONQRS QDDU 217'22,(1 5 'H YRRUUXLW RQWGRRLHQ 'H YRRUUXLW RQWZDVHPHQ 9HUVQHOOLQJVEDN +DQGJHVFKDNHOGH YHUVQHOOLQJVEDN 2P GH DFKWHUXLW LQ WH VFKDNHOHQ WHUZLMO GH DXWR VWLOVWDDW WUHNW X GH ULQJ RS GH NHX]HKHQGHO RPKRRJ HQ VFKDNHOW X GH YHUVQHOOLQJ LQ .
.RUW HQ ERQGLJ $XWRPDWLVFKH YHUVQHOOLQJVEDN $XWRPDWLVFKH YHUVQHOOLQJVEDN 9RRUGDW X ZHJULMGW 9RRU KHW ZHJULMGHQ FRQWUROHUHQ 3 3$5.
.RUW HQ ERQGLJ 0RWRU VWDUWHQ 6OHXWHO LQ VWDQG GUDDLHQ 6WXXU LHWV YHUGUDDLHQ RP KHW VWXXUVORW WH RQWJUHQGHOHQ +DQGJHVFKDNHOGH YHUVQHOOLQJVEDN NRSSHOLQJ LQWUDSSHQ $XWRPDWLVFKH YHUVQHOOLQJVEDN =HW NHX]HKHQGHO RS 3 *HHQ JDV JHYHQ 'LHVHOPRWRU VOHXWHO QDDU VWDQG GUDDLHQ YRRU KHW YRRUJORHLHQ WRWಢ GDW GRRIW 'UDDL GH VOHXWHO LQ VWDQG WHUZLMO X KHW NRSSHOLQJVSHGDDO HQ KHW UHPಢ SHGDDO LQWUDSW HQ YHUYROJHQV ORVODDW DOV GH PRWRU GUDDLW 2P GH PRWRU RSQLHXZ WH VWDUWHQ RI GH]H DI WH ]HWWHQ VOHXW
.RUW HQ ERQGLJ 5XLWHQ VOXLWHQ 9HUJUHQGHO GH DXWR HQ DFWLYHHU KHW DODUPV\VWHHP 6OHXWHOV
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 6OHXWHOV SRUWLHUHQ HQ UXLWHQ 6OHXWHOV VORWHQ 6OHXWHOV 2P XLW WH NODSSHQ WRHWV LQGUXNNHQ ,QNODSSHQ YDQ GH VOHXWHO GRHW X GRRU GH NQRS LQ WH GUXNNHQ HQ KHW VOHXWHOಢ EODG PHW GH KDQG LQ WH NODSSHQ 5HVHUYHVOHXWHOV 6OHXWHOV VORWHQ 3RUWLHUHQ $QWLGLHIVWDOEHYHLOLJLQJ %XLWHQVSLHJHOV %LQQHQVSLHJHO 5XLWHQ
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 6WRULQJ +DWFKEDFN! :RUGW JHEUXLNW YRRU &HQWUDOH YHUJUHQGHOLQJ 'LHIVWDODODUPV\VWHHP .
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 2SHQ GH EHKXL]LQJ YDQ GH DIಢ VWDQGVEHGLHQLQJ 9HUZLMGHU GH RXGH EDWWHULM =RUJ GDW GH SULQWSODDW QLHW LQ DDQUDNLQJ NRPW PHW DQGHUH FRPSRQHQWHQ 3ODDWV GH QLHXZH EDWWHULM =RUJ HUಢ YRRU GDW GH QHJDWLHYH NDQW PHW GH RQGHUNDQW QDDU GH EDVLV LV JHಢ ULFKW 6OXLW GH EHKXL]LQJ YDQ GH KDQGಢ ]HQGHU &RQWUROHHU RI GH DIVWDQGVEHGLHಢ QLQJELM XZ DXWR ZHUNW 9DVWH VOHXWHO /DDW GH EDWWHULM YHUYDQJHQ GRRU HHQ ZHUNSODDWV 9RRU]LFKWLJ 9RRUNRP GDW X GH SODWWH YODNNHQ YDQ GH DF
6OHXWHOV SRUWLHUHQ HQ UXLWHQ &HQWUDOH YHUJUHQGHOLQJ 8 NXQW GH FHQWUDOH YHUJUHQGHOLQJ LQಢ VFKDNHOHQ YLD KHW EHVWXXUGHUVSRUWLHU 0HW GLW V\VWHHP NXQW X DOOH SRUWLHUHQ GH DFKWHUNOHS RI KHW NRIIHUGHNVHO YDQDI KHW EHVWXXUGHUVSRUWLHU YHUJUHQಢ GHOHQ RI RQWJUHQGHOHQ PHW JHEUXLN YDQ GH KDQG]HQGHU YDQ EXLWHQDI RI GH NQRS YRRU FHQWUDOH YHUJUHQGHOLQJ YDQ ELQQHQXLW 'H WDQNNOHS NDQ VDಢ PHQ PHW DOOH SRUWLHUHQ HQ GH DFKWHUಢ NOHS RI KHW NRIIHUGHNVHO YHUJUHQGHOG ]LMQ &HQWUDOH YHUJUHQGHOLQJ LV PRJHOLMN PHW GH
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 9HUJUHQGHOHQ +DQG]HQGHU 2QWJUHQGHOHQ YDQ KHW NRIIHUGHNVHO DOOHHQ QRWFKEDFN %LM VXSHUYHUJUHQGHOLQJ ZRUGHQ DOOH HOHNWULVFKH VORWHQ ODQJV HOHNWURQLVFKH ZHJ JHEORNNHHUG HQ NDQ JHHQ HQNHO SRUWLHU QRJ ZRUGHQ JHRSHQG RRN QLHW QDGDW HHQ UXLW LV LQJHVODJHQ :DDUVFKXZLQJ *HEUXLN VXSHUYHUJUHQGHOLQJ QLHW DOV HU PHQVHQ LQ GH DXWR ]LMQ 'H SRUWLHUHQ NXQQHQ GDQ QLHW YDQ ELQಢ QHQXLW ZRUGHQ JHRSHQG 7RHWV C LQGUXNNHQ 9HUJUHQGHOW DOOH GHXUHQ 'H DODUPಢ NQLSSHUOLFKWHQ NQLSSHUHQ ÚÚQ N
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 9HUWUDDJGH YHUJUHQGHOLQJ 'H]H IXQFWLH YHUWUDDJW KHW YHUJUHQGHಢ OHQ YDQ GH SRUWLHUHQ HQ KHW DFWLYHUHQ YDQ KHW GLHIVWDODODUPV\VWHHP PHW YLMI VHFRQGHQ DOV GH DXWR PHW GH HOHNWULಢ VFKH SRUWLHUVORWVFKDNHODDU RI GH KDQG]HQGHU ZRUGW YHUJUHQGHOG 'LW NDQ ZRUGHQ JHZLM]LJG LQ GH 9RHUಢ WXLJLQVWHOOLQJHQ =LH 3HUVRRQOLMNH LQVWHOOLQJHQ $$1 ELM KHW LQGUXNNHQ YDQ GH WRHWV YRRU FHQWUDOH YHUJUHQGHOLQJ JHYHQ GULH JHOXLGVVLJQDOHQ DDQ GDW YHUಢ WUDDJGH YHUJUHQGHOLQJ LV LQJHVFKDಢ NHOG '
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 9RRU]LFKWLJ 7UHN QLHW DDQ GH ELQQHQSRUWLHUಢ JUHHS WHUZLMO KHW NLQGHUVORW LQ GH VWDQG /2&. YHUJUHQGHOG VWDDW 'H ELQQHQSRUWLHUJUHHS NDQ KLHUಢ GRRU EHVFKDGLJG UDNHQ %DJDJHUXLPWH +HW NRIIHUGHNVHO ZRUGW RQWJUHQGHOG RI YHUJUHQGHOG ZDQQHHU X DOOH SRUWLHUHQ YHUJUHQGHOW RQWJUHQGHOW YLD GH KDQGಢ ]HQGHU .
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 9RRU]LFKWLJ .
6OHXWHOV SRUWLHUHQ HQ UXLWHQ $FKWHUNOHS KDWFKEDFN 7\SH ! 2SHQHQ 7\SH ! 8 RSHQW GH DFKWHUNOHS GRRU WHJHQ KHW VORWSDQHHO WH GUXNNHQ WHUZLMO GH DFKಢ WHUNOHS RQWJUHQGHOG LV 'H DFKWHUNOHS ZRUGW RQWJUHQGHOG RI YHUJUHQGHOG ZDQQHHU DOOH SRUWLHUHQ ZRUGHQ RQWJUHQGHOG YHUJUHQGHOG YLD GH KDQG]HQGHU 9RRU]LFKWLJ 9RRUGDW X GH DFKWHUNOHS RSHQW PRHW X NLMNHQ RI HU ERYHQ GH DXWR QLHWV LQ GH ZHJ ]LW ]RDOV HHQ JDಢ UDJHGHXU RP VFKDGH DDQ GH DFKಢ WHUNOHS WH YRRUNRPHQ &RQWUROHHU DOWLMG GH SODDWV ERYHQ HQ DFKWH
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 'UXN QLHW RS KHW VORWSDQHHO WHUZLMO X KHW NRIIHUGHNVHO VOXLW +HW NRIIHUGHNಢ VHO NDQ GDQ ZHHU RSHQJDDQ 7\SH ! 'H DFKWHUNOHS ZRUGW JHVORWHQ GRRU KHP DDQ WH GUXNNHQ ]RGDW GH]H JRHG LQ KHW VORW ]LW $QWLGLHIVWDOEHYHLOLJLQJ 'LHIVWDODODUPV\VWHHP $FWLYHULQJ $OV GH FRQWUROHODPS QD GH HHUVWH VHFRQGHQ WRFK VQHO EOLMIW NQLSSHಢ UHQ LV KHW EHVWXXUGHUVSRUWLHU QLHW JRHG DIJHVORWHQ RI LV HU HHQ V\Vಢ WHHPVWRULQJ 'H KXOS YDQ HHQ ZHUNSODDWV LQURHSHQ 'HDFWLYHULQJ $OV X GH DXWR RQ
6OHXWHOV SRUWLHUHQ HQ UXLWHQ $XWRPDWLVFKH SRUWLHUYHUJUHQGHOLQJ :DQQHHU JHHQ HQNHO SRUWLHU ZRUGW JHಢ RSHQG RI GH FRQWDFWVOHXWHO QLHW LQ GH VWDQG $&& RI 21 ZRUGW JH]HW ELQQHQ PLQXWHQ QDGDW GH SRUWLHUHQ ]LMQ RQWಢ JUHQGHOG YLD GH KDQG]HQGHU ZRUGHQ DOOH SRUWLHUHQ ZHHU YHUJUHQGHOG HQ ZRUGW KHW GLHIVWDODODUPV\VWHHP DXWRಢ PDWLVFK LQJHVFKDNHOG $XWRPDWLVFKH SRUWLHURQWJUHQGHOLQJ $OOH SRUWLHUHQ RQWJUHQGHOHQ DXWRPDಢ WLVFK ]RGUD GH ERWVLQJVHQVRUHQ HHQ ERWVLQJVLJQDDO RQWYDQJHQ WHUZLMO KHW FRQWDFW LV DDQJH]HW :HO ]X
6OHXWHOV SRUWLHUHQ HQ UXLWHQ %XLWHQVSLHJHOV %ROOH YRUP 'H FRQYH[H EXLWHQVSLHJHO KHHIW HHQ DVIHULVFKH ]RQH HQ UHGXFHHUW GRGH KRHNHQ 'RRU GH YRUP YDQ GH VSLHJHO OLMNHQ YRRUZHUSHQ NOHLQHU GDQ ]H ]LMQ ZDDUGRRU DIVWDQGHQ PRHLOLMNHU ]LMQ LQ WH VFKDWWHQ %HZHHJ KHW KHQGHOWMH LQ GH JHZHQVWH ULFKWLQJ RP GH VSLHJHOVWDQGHQ DDQ WH SDVVHQ ,QNODSSHQ (OHNWULVFKH YHUVWHOOLQJ +DQGPDWLJ YHUVWHOOHQ 6HOHFWHHU GH JHZHQVWH EXLWHQVSLHJHO GRRU GH NQRS QDDU OLQNV / RI UHFKWV 5 WH GUDDLHQ %HZHHJ GDDUQD GH NQRS RP G
6OHXWHOV SRUWLHUHQ HQ UXLWHQ :DDUVFKXZLQJ =RUJ HU DOWLMG YRRU GDW GH VSLHJHOV FRUUHFW ]LMQ DIJHVWHOG HQ JHEUXLN ]H WLMGHQV KHW ULMGHQ RP YRRUZHUಢ SHQ HQ DQGHUH DXWR V RP X KHHQ WH NXQQHQ ]LHQ 5LMG QLHW DOV HHQ YDQ GH EXLWHQVSLHJHOV LV LQJHNODSW 'H YHUZDUPLQJ ZHUNW ELM HHQ GUDDLಢ HQGH PRWRU HQ ZRUGW QD HQNHOH PLQXಢ WHQ DXWRPDWLVFK XLWJHVFKDNHOG RI GRRU RSQLHXZ RS GH NQRS WH GUXNNHQ %LQQHQVSLHJHO +DQGPDWLJH GLPIXQFWLH 9HUZDUPG 2P YHUEOLQGLQJ WH YHUPLQGHUHQ GH KHQGHO DDQ GH RQGHUNDQW YDQ GH VSLH
6OHXWHOV SRUWLHUHQ HQ UXLWHQ :DDUVFKXZLQJ 'H ELQQHQVSLHJHO ELHGW LQ GH QDFKWVWDQG HHQ ZDW PLQGHU KHOGHU ]LFKW :HHV H[WUD DOHUW DOV GH VSLHJHO LQ GH DQWL YHUEOLQGLQJVVWDQG VWDDW (HQ YHUNHHUGH LQVFKDWWLQJ NDQ OHLಢ GHQ WRW HHQ DDQULMGLQJ HQ GDDUPHH WRW SHUVRRQOLMN OHWVHO HQ RI PDWHULಢ HOH VFKDGH 5XLWHQ +DQGEHGLHQGH UXLWHQ $OV HU DFKWHULQ NLQGHUHQ ]LWWHQ PRHW X GH NLQGHUEHYHLOLJLQJ YDQ GH HOHNWULVFKH UXLWEHGLHQLQJ LQಢ VFKDNHOHQ 5XLWHQ WLMGHQV KHW VOXLWHQ JRHG LQ GH JDWHQ KRXGHQ (UYRRU ]RUJHQ GDW
6OHXWHOV SRUWLHUHQ HQ UXLWHQ %HGLHQLQJ 8 NXQW GH HOHNWULVFK EHGLHQGH UXLWHQ EHGLHQHQ PHW GH VFKDNHODDUV RS GH SRUWLHUHQ DOV KHW FRQWDFW LQ VWDQG 21 VWDDW 'UXN GH VFKDNHODDU RPODDJ RP GH UXLW WH RSHQHQ 2P GH UXLW WH VOXLWHQ KDDOW X GH VFKDಢ NHODDU RPKRRJ /DDW GH VFKDNHODDU ORV DOV GH UXLW GH JHZHQVWH SRVLWLH KHHIW EHUHLNW 9HUNHHUG JHEUXLN YDQ GH HOHNಢ WULVFK EHGLHQGH UXLWHQ NDQ HUQVWLJ RI IDWDDO OHWVHO WRW JHYROJ KHEEHQ $FKWHUUXLWYHUZDUPLQJ .
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 9RRU]LFKWLJ *HEUXLN JHHQ VFKHUSH YRRUZHUಢ SHQ RI UHLQLJLQJVPLGGHOHQ PHW VFKXUHQGH EHVWDQGGHOHQ RP GH DFKWHUUXLW YDQ XZ DXWR WH UHLQLJHQ /HW HU ELM KHW UHLQLJHQ YDQ GH DFKಢ WHUUXLW HQ ELM KHW ZHUNHQ LQ GH RPಢ JHYLQJ YDQ GH DFKWHUUXLW RS GDW X KHW YHUZDUPLQJVHOHPHQW QLHW EHಢ VFKDGLJW =RQQHNOHSSHQ 2P YHUEOLQGLQJ WH YHUPLMGHQ NXQQHQ GH ]RQQHNOHSSHQ ZRUGHQ QHHUJHಢ NODSW HQ RS]LM ZRUGHQ JHGUDDLG $IGHNNLQJHQ YDQ HYHQWXHHO LQ GH ]RQಢ QHNOHSSHQ DDQZH]LJH PDNH XSVSLHJHOV WLMGHQ
6OHXWHOV SRUWLHUHQ HQ UXLWHQ 2PKRRJ RI VOXLWHQ 2P KHW ]RQQHGDN WH RSHQHQ PHW GH NDQWHOIXQFWLH KRXGW X GH VFKDNHODDU LQJHGUXNW /DDW GH VFKDNHODDU ORV ]RGUD KHW ]RQಢ QHGDN GH JHZHQVWH SRVLWLH EHUHLNW 8 VOXLW KHW ]RQQHGDN GRRU GH VFKDNHಢ ODDU LQJHGUXNW WH KRXGHQ WRWGDW KHW ]RQQHGDN JHVORWHQ LV =RQQHVFKHUP +HW ]RQQHVFKHUP ZRUGW KDQGPDWLJ EHGLHQG 6FKXLI KHW ]RQQHVFKHUP RSHQ RI GLFKW :DQQHHU KHW ]RQQHGDN RSHQVWDDW LV KHW ]RQQHVFKHUP DOWLMG RSHQ :DDUVFKXZLQJ /LFKDDPVGHOHQ GLH XLW GH DXWR VWHಢ N
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 6WRHOHQ YHLOLJKHLGVV\VWHPHQ +RRIGVWHXQHQ 9RRUVWRHOHQ 9HLOLJKHLGVJRUGHOV $LUEDJV\VWHHP .
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 'HPRQWHUHQ +DDO GH KRRIGVWHXQ KHOHPDDO RPಢ KRRJ 'UXN WHJHOLMNHUWLMG GH SDOOHQ HQ LQ 7UHN GH KRRIGVWHXQ RPKRRJ +RRIGVWHXQHQ YDQ DFKWHUEDQN 9RRUVWRHOHQ +RRJWHYHUVWHOOLQJ 6WRHOSRVLWLH :DDUVFKXZLQJ $OOHHQ PHW HHQ FRUUHFW LQJHVWHOGH VWRHO ULMGHQ +RUL]RQWDOH YHUVWHOOLQJ +RRIGVWHXQ RPKRRJWUHNNHQ 9RRU ODಢ JHU ]HWWHQ GH SDO LQGUXNNHQ HQ GH KRRIGVWHXQ RPODDJ GXZHQ +RRIGVWHXQ QDDU YRUHQ WUHNNHQ 'H]H NDQ LQ GULH VWDQGHQ ZRUGHQ LQJHVWHOG 7UHN GH KRRIGVWHXQ QD
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 0HW VFKRXGHUV ]R YHU PRJHOLMN WHಢ JHQ GH UXJOHXQLQJ ]LWWHQ 6WHO GH KRHN YDQ GH UXJOHXQLQJ ]R LQ GDW X KHW VWXXUZLHO JHPDNNHOLMN PHW OLFKW JHERJHQ DUPHQ NXQW YDVWSDNಢ NHQ %LM KHW YHUGUDDLHQ YDQ KHW VWXXUZLHO FRQWDFW EOLMYHQ KRXGHQ WXVVHQ VFKRXGHUV HQ UXJOHXQLQJ 'H UXJOHXQLQJ PDJ QLHW WH YHU DFKಢ WHURYHUKHOOHQ 'H DDQEHYROHQ KHOಢ OLQJVKRHN EHGUDDJW PD[LPDDO FD ¡ 6WXXUZLHO LQVWHOOHQ =LWKRRJWH ]R LQVWHOOHQ GDW X URQGRP HHQ JRHG ]LFKW KHEW HQ DOOH LQVWUXPHQW
6WRHOHQ YHLOLJKHLGVV\VWHPHQ =LWKRRJWH 9HUZDUPLQJ 9RRU]LFKWLJ /DQJGXULJ JHEUXLN YDQ GH KRRJVWH LQVWHOOLQJ ZRUGW YRRU PHQVHQ PHW HHQ JHYRHOLJH KXLG QLHW DDQEHYRಢ OHQ +DDO GH KHQGHO DDQ GH EXLWHQNDQW YDQ GH VWRHO]LWWLQJ RS RI QHHU WRW GH ]LWWLQJ LQ GH JHZHQVWH VWDQG LV YHUVWHOG 2P GH VWRHO]LWWLQJ ODJHU WH VWHOOHQ GUXNW X GH KHQGHO HHQ SDDU NHHU RPಢ ODDJ 2P GH VWRHO]LWWLQJ KRJHU WH VWHOOHQ KDDOW X GH KHQGHO HHQ SDDU NHHU RPಢ KRRJ 'H WRHWVHQ YRRU VWRHOYHUZDUPLQJ EHಢ YLQGHQ ]LFK LQ GH NQRSSHQ YRRU
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 9HLOLJKHLGVJRUGHOV :DDUVFKXZLQJ 9HLOLJKHLGVJRUGHO YääU HONH ULW RPಢ GRHQ ,Q]LWWHQGHQ GLH JHHQ JHEUXLN PDಢ NHQ YDQ GH YHLOLJKHLGVJRUGHO EUHQಢ JHQ ELM HYHQWXHOH DDQULMGLQJHQ PHಢ GHSDVVDJLHUV HQ ]LFK]HOI LQ JHಢ YDDU 'H YHLOLJKHLGVJRUGHOV ZRUGHQ ELM VQHO RSWUHNNHQ RI KDUG UHPPHQ JHEORNಢ NHHUG RP GH LQ]LWWHQGHQ RS KXQ VWRHO WH KRXGHQ 9HLOLJKHLGVJRUGHOV ]LMQ EHGRHOG YRRU JHEUXLN GRRU VOHFKWV ÚÚQ SHUVRRQ WHಢ JHOLMN =H ]LMQ QLHW JHVFKLNW YRRU SHUಢ VRQHQ NOHLQHU GDQ P
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 'H JRUGHOVORWHQ YDQ GH YRRUVWRHOHQ ZRUGHQ VWUDNJHWURNNHQ ELM HHQ YROಢ GRHQGH ]ZDUH IURQWDOH RI ]LMGHOLQJVH ERWVLQJ RI ELM HHQ DDQULMGLQJ YDQ DFKಢ WHUHQ 'ULHSXQWVJRUGHO %HYHVWLJLQJ :DDUVFKXZLQJ 2QMXLVW KDQGHOHQ ELMY KHW YHUZLMಢ GHUHQ RI DDQEUHQJHQ YDQ JRUGHOV RI JRUGHOJHVSHQ NDQ GH JRUGHOಢ VSDQQHUV LQ ZHUNLQJ VWHOOHQ *HDFWLYHHUGH JRUGHOVSDQQHUV ]LMQ WH KHUNHQQHQ DDQ GH EUDQGHQGH FRQWURಢ OHODPS T *HDFWLYHHUGH JRUGHOVSDQQHUV GRRU HHQ ZHUNSODDWV ODWHQ YHUYDQJHQ *
6WRHOHQ YHLOLJKHLGVV\VWHPHQ +RRJWHYHUVWHOOLQJ 'HPRQWHUHQ 7RHWV LQGUXNNHQ +RRJWH LQVWHOOHQ HQ YHUJUHQGHOHQ +RRJWH ]R LQVWHOOHQ GDW GH JRUGHO RYHU GH VFKRXGHU ORRSW *RUGHO PDJ QLHW ODQJV GH KDOV RI ERYHQDUP ORSHQ 2P GH JRUGHO ORV WH PDNHQ GH URGH NQRS YDQ KHW JRUGHOVORW LQGUXNNHQ 9RRU]LFKWLJ 3DV GH SRVLWLH QLHW DDQ WLMGHQV KHW ULMGHQ 9HLOLJKHLGVJRUGHOV YDQ DFKWHUEDQN 'H YHLOLJKHLGVJRUGHO YDQ GH PLGGHOಢ VWH ]LWSODDWV DFKWHULQ NDQ DOOHHQ XLW KHW RSUROPHFKDQLVPH ZRUGHQ JHWURNಢ NHQ DOV GH
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 9HUGHU KHHIW HHQ RQJHERUHQ NLQG JURಢ WHUH RYHUOHYLQJVNDQVHQ DOV GH YHLOLJಢ KHLGVJRUGHO RS GH MXLVWH PDQLHU JHಢ GUDJHQ ZRUGW 9RRU PD[LPDOH EHVFKHUPLQJ KRRUW HHQ DDQVWDDQGH PRHGHU HHQ YHLOLJಢ KHLGVJRUGHO WH GUDJHQ +HW KHXSJHGHHOWH YDQ GH JRUGHO PRHW WLMGHQV GH ]ZDQJHUVFKDS ]R ODDJ PRಢ JHOLMN ZRUGHQ JHGUDJHQ $LUEDJV\VWHHP +HW DLUEDJV\VWHHP EHVWDDW XLW PHHUಢ GHUH DI]RQGHUOLMNH V\VWHPHQ %LM KHW DIJDDQ ZRUGHQ GH DLUEDJV ELQಢ QHQ HQNHOH PLOOLVHFRQGHQ JHYXOG 2RN KHW OHHJORSHQ YDQ
6WRHOHQ YHLOLJKHLGVV\VWHPHQ /HW RS 7HU KRRJWH YDQ GH PLGGHQFRQVROH ]LWWHQ GH UHJHOHOHNWURQLFD YDQ KHW DLUEDJV\VWHHP HQ GH JRUGHOVSDQಢ QHUV ,Q GLW JHELHG JHHQ PDJQHWLಢ VFKH YRRUZHUSHQ SODDWVHQ $IGHNNLQJHQ YDQ DLUEDJV QLHW EHಢ SODNNHQ RI PHW DQGHUH PDWHULDOHQ EHGHNNHQ (ONH DLUEDJ WUHHGW VOHFKWV HHQPDDO LQ ZHUNLQJ *HDFWLYHHUGH DLUEDJV RQPLGGHOOLMN ODWHQ YHUYDQJHQ GRRU HHQ ZHUNSODDWV *HHQ DDQSDVVLQJHQ LQ KHW DLUEDJಢ V\VWHHP DDQEUHQJHQ DQGHUV YHUಢ YDOW GH W\SHJRHGNHXULQJ YDQ GH DXWR /DDW KHW YHUYDQJ
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 9HLOLJKHLGVJRUGHO FRUUHFW RPOHJಢ JHQ HQ JRHG YDVW]HWWHQ $OOHHQ GDQ NDQ GH DLUEDJ EHVFKHUPLQJ ELHGHQ =LMGHOLQJV DLUEDJV\VWHHP 'H YRRUZDDUWVH EHZHJLQJ YDQ GH YRRUVWH LQ]LWWHQGHQ ZRUGW JHGHPSW ZDDUGRRU KHW JHYDDU YRRU OHWVHO DDQ KHW ERYHQOLFKDDP HQ KHW KRRIG DDQಢ ]LHQOLMN DIQHHPW 'H NDQV RS OHWVHO DDQ KHW ERYHQOLಢ FKDDP HQ GH KHXSHQ ELM HHQ ]LMGHಢ OLQJVH DDQULMGLQJ ZRUGW DDQ]LHQOLMN YHUPLQGHUG :DDUVFKXZLQJ :DDUVFKXZLQJ $OOHHQ ELM HHQ FRUUHFWH ]LWSRVLWLH LV RSWLPD
6WRHOHQ YHLOLJKHLGVV\VWHPHQ :DDUVFKXZLQJ .
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 8 GHDFWLYHHUW KHW DLUEDJV\VWHHP YDQ GH YRRUSDVVDJLHU PHW HHQ VORW DDQ GH ]LMNDQW YDQ KHW LQVWUXPHQWHQSDQHHO ]LFKWEDDU ELM HHQ JHRSHQG SDVVDಢ JLHUVSRUWLHU :DDUVFKXZLQJ 'HDFWLYHHU KHW SDVVDJLHUVDLUEDJಢ V\VWHHP DOV HU ]LFK HHQ NLQG RS GH SDVVDJLHUVVWRHO EHYLQGW $FWLYHHU KHW SDVVDJLHUVDLUEDJV\Vಢ WHHP DOV HU ]LFK HHQ YROZDVVHQH RS GH SDVVDJLHUVVWRHO EHYLQGW *HEUXLN GH FRQWDFWVOHXWHO RP GH SRಢ VLWLH WH NLH]HQ F DLUEDJ YDQ YRRUSDVVDJLHU LV JHGHDFWLYHHUG HQ JDDW QLHW DI ELM HH
6WRHOHQ YHLOLJKHLGVV\VWHPHQ .LQGHUYHLOLJKHLGVV\VWHಢ PHQ :LM DGYLVHUHQ *0 NLQGHU]LWMHV GLH VSHFLDDO YRRU GH]H DXWR ]LMQ DDQJHಢ SDVW :DQQHHU X HHQ NLQGHUYHLOLJKHLGVV\Vಢ WHHP JHEUXLNW PRHW X GH JHEUXLNHUV HQ PRQWDJHKDQGOHLGLQJ ÚQ GH LQVWUXFಢ WLHV ELM KHW NLQGHUYHLOLJKHLGVV\VWHHP RSYROJHQ +RXG X DOWLMG DDQ GH SODDWVHOLMNH RI ODQGHOLMNH YRRUVFKULIWHQ ,Q VRPPLJH ODQGHQ LV KHW JHEUXLN YDQ NLQGHUYHLಢ OLJKHLGVV\VWHPHQ RS EHSDDOGH ]LWಢ SODDWVHQ YHUERGHQ :DDUVFKXZLQJ :$$56&+8:,1* =((5 *(ಢ 9$$5/,-.
6WRHOHQ YHLOLJKHLGVV\VWHPHQ +HW NLQGHUYHLOLJKHLGVV\VWHHP PRHW RS GH FRUUHFWH SRVLWLH LQ GH DXWR ZRUಢ GHQ JHPRQWHHUG /DDW NLQGHUHQ DOOHHQ DDQ GH WURWWRLUಢ NDQW YDQ GH DXWR XLW HQ LQVWDSSHQ :DQQHHU KHW NLQGHUYHLOLJKHLGVV\Vಢ WHHP QLHW ZRUGW JHEUXLNW PRHW X YDVWಢ ]HWWHQ PHW HHQ YHLOLJKHLGVJRUGHO RI YHUZLMGHUHQ /HW RS .
6WRHOHQ YHLOLJKHLGVV\VWHPHQ ,QERXZSRVLWLHV NLQGHUYHLOLJKHLGVV\VWHPHQ 7RHJHVWDQH PRJHOLMNKHGHQ YRRU GH EHYHVWLJLQJ YDQ HHQ NLQGHUYHLOLJKHLGVV\VWHHP 2S SDVVDJLHUVVWRHO 2S EXLWHQVWH ]LWSODDWVHQ 2S PLGGHOVWH ]LWSODDWV *HZLFKWV RI OHHIWLMGVJURHS JHDFWLYHHUGH DLUEDJ JHGHDFWLYHHUGH DLUEDJ DFKWHULQ DFKWHULQ *URHS WRW NJ RI FD PDDQGHQ ; 8 8 8 *URHS WRW NJ RI FD MDDU ; 8 8 8 *URHS , WRW NJ ; RI FD PDDQGHQ WRW MDDU 8 8 8 *URHS ,, WRW NJ RI FD WRW MD
6WRHOHQ YHLOLJKHLGVV\VWHPHQ 7RHJHVWDQH PRJHOLMNKHGHQ YRRU GH EHYHVWLJLQJ YDQ HHQ ,62),; NLQGHUYHLOLJKHLGVV\VWHHP *HZLFKWVNODVVH 2S EXLWHQVWH ]LWSODDWVHQ 0DDWNODVVH %HYHVWLJLQJ 2S SDVVDJLHUVVWRHO DFKWHULQ 2S PLGGHOVWH ]LWSODDWV DFKWHULQ *URHS WRW NJ ( ,62 5 ; ,/ ; *URHS WRW NJ ( ,62 5 ; ,/ ; ' ,62 5 ; ,/ ; & ,62 5 ; ,/ ; *URHS , WRW NJ ' ,62 5 ; ,/ ; & ,62 5 ; ,/ ; % ,62 ) ; ,/ ,8) ; ,/ ,8) ; % ,62 ) ; ; ,/ ,8) ; $ ,62 )
6WRHOHQ YHLOLJKHLGVV\VWHPHQ ,62),; PDDWNODVVH HQ ]LWJHOHJHQKHLG $ ,62 ) % ,62 ) % ,62 ) ; & ,62 5 ' ,62 5 ( ,62 5 ,Q ULMULFKWLQJ JHSODDWVW NLQGHUYHLOLJKHLGVV\VWHHP YRRU NLQGHUHQ PHW PD[LPXPOHQJWH LQ GH JHZLFKWVNODVVH WRW NJ ,Q ULMULFKWLQJ JHSODDWVW NLQGHUYHLOLJKHLGVV\VWHHP YRRU NOHLQHUH NLQGHUHQ LQ GH JHZLFKWVNODVVH WRW NJ ,Q ULMULFKWLQJ JHSODDWVW NLQGHUYHLOLJKHLGVV\VWHHP YRRU NOHLQHUH NLQGHUHQ LQ GH JHZLFKWVNODVVH WRW NJ $FKWHUZDDUWV JHULFKW NLQGHUYHLOLJKHLGVV\VWH
6WRHOHQ YHLOLJKHLGVV\VWHPHQ ,VRIL[ NLQGHUYHLOLJKHLGVV\VWHPHQ ,Q KHW YHUOHGHQ ZHUGHQ NLQGHU]LWMHV PHW GH YHLOLJKHLGVJRUGHOV YDQ GH DXWR RS HHQ ]LWSODDWV YDVWJHPDDNW $OV JHಢ YROJ KLHUYDQ ZHUGHQ NLQGHU]LWMHV YDDN RQMXLVW RI QLHW VWHYLJ JHQRHJ EHYHVಢ WLJG RP KHW NLQG HHQ JRHGH EHVFKHUಢ PLQJ WH ELHGHQ :LM KHEEHQ XZ DXWR XLWJHUXVW PHW ODJH ,62),; YHUDQNHULQJVSXQWHQ ELM GH WZHH EXLWHQVWH ]LWSODDWVHQ RS GH DFKWHUEDQN HQ PHW 7RS WHWKHU YHUDQಢ NHULQJVSXQWHQ LQ GH DFKWHUEDQNUXಢ JOHXQLQJ QRWFKEDFN DFKWHUNDQW YD
6WRHOHQ YHLOLJKHLGVV\VWHPHQ YHLOLJKHLGVJRUGHOV RI YHLOLJKHLGVಢ JRUGHOV 9UHHPGH YRRUZHUSHQ NXQQHQ GH MXLVWH EHYHVWLJLQJ YDQ KHW NLQGHU]LWMH DDQ GH YHUDQNHಢ ULQJVSXQWHQ LQ GH ZHJ VWDDQ 3ODDWV KHW NLQGHU]LWMH LQ GH VWRHO ERYHQ GH WZHH RQGHUVWH YHUDQNHಢ ULQJHQ HQ EHYHVWLJ KHW DDQ GH YHUಢ DQNHULQJHQ YROJHQV GH LQVWUXFWLHV GLH ELM KHW NLQGHU]LWMH ZRUGHQ JHಢ OHYHUG 9HUVWHO KHW NLQGHU]LWMH HQ ]HW KHW YDVW YROJHQV GH DDQZLM]LQJHQ YDQ GH IDEULNDQW YDQ GH NLQGHU]LWMH 9RRU]LFKWLJ 2QJHEUXLNWH NLQGHU]LWM
6WRHOHQ YHLOLJKHLGVV\VWHPHQ :DDUVFKXZLQJ 9RRU]LFKWLJ (HQ NLQGHU]LWMH GDW RS GH YRRUVWRHO ZRUGW JHSODDWVW NDQ HUQVWLJ RI IDಢ WDDO OHWVHO YHURRU]DNHQ 3ODDWV HHQ NLQGHU]LWMH GDW WHJHQ GH ULMULFKWLQJ LQ PRHW ZRUGHQ JHಢ SODDWVW QRRLW RS GH YRRUVWRHO GLH YRRU]LHQ LV YDQ HHQ IURQWDLUEDJ (HQ NLQG LQ HHQ NLQGHU]LWMH GDW WHಢ JHQ GH ULMULFKWLQJ LQ JHSODDWVW PRHW ZRUGHQ GDW JHPRQWHHUG LV RS GH YRRUVWRHO NDQ HUQVWLJ JHZRQG UDಢ NHQ ZDQQHHU GH DLUEDJ YRRU GH YRRUSDVVDJLHU ZRUGW JHDFWLYHHUG 3ODDWV HHQ NLQGHU]LWMH
6WRHOHQ YHLOLJKHLGVV\VWHPHQ :DQQHHU GH ]LWSODDWV GLH X JHಢ EUXLNW YRRU]LHQ LV YDQ HHQ LQVWHOಢ EDUH KRRIGVWHXQ HQ X PDDNW JHಢ EUXLN YDQ HHQ GXEEHOH WXL OHLGW GH WXL GDQ URQG GH KRRIGVWHXQ :DQQHHU GH ]LWSODDWV GLH X JHಢ EUXLNW YRRU]LHQ LV YDQ HHQ LQVWHOಢ EDUH KRRIGVWHXQ HQ X JHEUXLNW HHQ HQNHOYRXGLJH WXL EUHQJW X GH KRRIGVWHXQ RPKRRJ HQ OHLGW X GH WXL RQGHU GH KRRIGVWHXQ GRRU WXVಢ VHQ GH VWDQJHQ YDQ GH KRRIGಢ VWHXQ 7UHN GH WXLEDQG YDQ KHW NLQGHU]Lಢ WMH VWUDN YROJHQV GH DDQZLM]LQJHQ GLH ELM KHW
2SEHUJHQ 2SEHUJHQ 2SEHUJUXLPWHQ %DJDJHUXLPWH %HODGLQJVLQIRUPDWLH 2SEHUJUXLPWHQ 2SEHUJYDNNHQ LQVWUXPHQWHQSDQHHO 2SEHUJYDN LQVWUXPHQWHQSDQHHO 'H EHUJYDNNHQ ]LMQ RQGHUJHEUDFKW LQ KHW GDVKERDUG =H ZRUGHQ JHEUXLNW YRRU R D NOHLQH YRRUZHUSHQ
2SEHUJHQ +HW EHUJYDN ERYHQDDQ KHW KDQGಢ VFKRHQHQNDVWMH LV XLWJHUXVW PHW $8; HQ 86% DDQVOXLWLQJHQ HWF ,QIRWDLQPHQWV\VWHHP +DQGVFKRHQHQNDVWMH :DDUVFKXZLQJ +RXG GH NOHS YDQ KHW GDVKERDUGಢ NDVWMH RQGHUZHJ DOWLMG GLFKW RP GH NDQV RS OHWVHO ELM HHQ RQJHYDO RI HHQ QRRGVWRS WHUXJ WH EUHQJHQ %HNHUKRXGHUV 'H EHNHUKRXGHUV EHYLQGHQ ]LFK LQ GH FHQWUDOH FRQVROH HQ LQ KHW DFKWHUVWH JHGHHOWH YDQ GH PLGGHQFRQVROH 2P WH RSHQHQ DDQ GH KDQGJUHHS WUHNNHQ
2SEHUJHQ :DDUVFKXZLQJ 3ODDWV JHHQ RQEHGHNWH EHNHUV PHW KHWH YORHLVWRI LQ GH EHNHUKRXಢ GHU WHUZLMO KHW YRHUWXLJ LQ EHZHJLQJ LV $OV GH KHWH YORHLVWRI ZRUGW JHಢ PRUVW NXQW X EUDQGZRQGHQ RSORಢ SHQ 0RFKW GLW ELM GH EHVWXXUGHU JHEHXUHQ GDQ NDQ GH]H GH FRQಢ WUROH RYHU KHW YRHUWXLJ YHUOLH]HQ 2P KHW ULVLFR YDQ SHUVRRQOLMN OHWVHO LQ KHW JHYDO YDQ HHQ QRRGVWRS RI HHQ ERWVLQJ WH YHUNOHLQHQ GLHQW X JHHQ RSHQ RI RQEHYHLOLJGH IOHVಢ VHQ JOD]HQ EOLNMHV HQ] LQ GH EHಢ NHUKRXGHU WH SODDWVHQ WHUZLMO GH DXWR ULMGW =
2SEHUJHQ %DJDJHUXLPWH $FKWHUVWH UXJOHXQLQJHQ QHHUNODSSHQ :DDUVFKXZLQJ 6WDSHO EDJDJH QLHW KRJHU RS GDQ WRW GH ERYHQ]LMGH YDQ GH YRRUVWRHಢ OHQ /DDW WLMGHQV KHW ULMGHQ JHHQ SDVಢ VDJLHUV SODDWVQHPHQ RS HHQ QHHUಢ JHNODSWH UXJOHXQLQJ 3DVVDJLHUV GLH JHHQ JHEUXLN PDಢ NHQ YDQ GH YHLOLJKHLGVJRUGHOV HQ ORVOLJJHQGH EDJDJH NXQQHQ ELM HHQ SORWVHOLQJH UHPDFWLH RI DDQULMಢ GLQJ GRRU KHW LQWHULHXU RI XLW GH DXWR ZRUGHQ JHVOLQJHUG 'LW NDQ HUQVWLJ RI ]HOIV GRGHOLMN OHWVHO WRW JHYROJ KHEEHQ 2P GH DFKWHUEDQNOHXQLQJ JH
2SEHUJHQ KDDOW $OV GDW JHEHXUW ODDW GH JRUGHOಢ EDQG GDQ KHOHPDDO WHUXJUROOHQ HQ EHಢ JLQ RSQLHXZ $OV X GH ]LWWLQJ YDQ GH DFKWHUEDQN ZHHU WHUXJ ZLOW SODDWVHQ ]HW GDQ GH DFKWHU]LMGH YDQ GH ]LWWLQJ LQ ]LMQ RRUಢ VSURQNHOLMNH VWDQG HQ ]RUJ HUYRRU GDW GH OXVVHQ YDQ GH YHLOLJKHLGVJRUGHO QLHW JHGUDDLG RI RQGHU GH ]LWWLQJ JHಢ NOHPG ]LMQ GUXN YHUYROJHQV GH YRRUಢ ]LMGH YDQ GH ]LWWLQJ VWHYLJ QDDU EHQHಢ GHQ WRW GH]H YHUJUHQGHOW 6WHHN GH JRUGHOV YDQ GH EXLWHQVWH ]LWSODDWVHQ LQ GH JRUGHOJHOHLGHUV 2P GH DFKWHUEDQN
2SEHUJHQ :DDUVFKXZLQJ /DDW SDVVDJLHUV QRRLW ERYHQRS GH RPJHNODSWH UXJOHXQLQJ YDQ GH DFKWHUEDQN ]LWWHQ WHUZLMO GH DXWR ULMGW RPGDW GLW QLHW GH MXLVWH ]LWSRಢ VLWLH LV HQ HU JHHQ YHLOLJKHLGVJRUಢ GHOV ]LMQ GLH ]H NXQQHQ JHEUXLNHQ 'LW NDQ UHVXOWHUHQ LQ HUQVWLJ RI IDಢ WDDO OHWVHO LQ KHW JHYDO YDQ HHQ RQಢ JHYDO RI HHQ QRRGVWRS 9RRUZHUSHQ GLH ERYHQRS HHQ RPಢ JHNODSWH UXJOHXQLQJ ZRUGHQ JHಢ SODDWVW PRJHQ QLHW KRJHU ]LMQ GDQ GH ERYHQNDQW YDQ GH YRRUVWRHOHQ 'H YUDFKW NDQ WLMGHQV SORWVHOLQJH UHPDFWLHV QDDU Y
2SEHUJHQ %HODGLQJVLQIRUPDWLH =ZDUH YRRUZHUSHQ LQ GH EDJDJHಢ UXLPWH WHJHQ GH UXJOHXQLQJHQ OHJಢ JHQ &RQWUROHUHQ RI GH UXJOHXQLQಢ JHQ QDDU EHKRUHQ ]LMQ YHUJUHQGHOG %LM VWDSHOEDUH YRRUZHUSHQ GH ]ZDDUVWH YRRUZHUSHQ RQGHURS OHJಢ JHQ /RVVH YRRUZHUSHQ LQ GH EDJDJHಢ UXLPWH YDVW]HWWHQ RP YHUVFKXLYHQ WHJHQ WH JDDQ %LM KHW YHUYRHUHQ YDQ YRRUZHUSHQ LQ GH EDJDJHUXLPWH PRJHQ GH UXJಢ OHXQLQJHQ YDQ GH DFKWHUEDQN QLHW VFKXLQ QDDU YRUHQ JHNODSW ]LMQ %DJDJH QLHW ERYHQ GH UXJOHXQLQJHQ ODWHQ XLWVWHNHQ 1LHWV RS G
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ ,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ %HGLHQLQJVRUJDQHQ 6WXXUZLHOYHUVWHOOLQJ %HGLHQLQJVRUJDQHQ :DDUVFKXZLQJVODPSHQ PHWHUV HQ FRQWUROHODPSHQ ,QIRUPDWLHGLVSOD\V %RRUGLQIRUPDWLH 7ULSFRPSXWHU 3HUVRRQOLMNH LQVWHOOLQJHQ 9RRU]LFKWLJ :DQQHHU HHQ KDUGH NODS ZRUGW JHಢ JHYHQ RS GH D[LDOH ULFKWLQJ YDQ GH VWXXUNRORP WH
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ ,QIRWDLQPHQWV\VWHHP &UXLVH FRQWURO :LV ZDVLQVWDOODWLH YRRUUXLW 9RRUUXLWZLVVHUV &OD[RQ H LQGUXNNHQ =HW KHW FRQWDFW LQ GH VWDQG 21 HQ EHಢ ZHHJ GH UXLWHQZLVVHU VSURHLHUVFKDಢ NHODDU RPKRRJ RP GH UXLWHQZLVVHUV LQ WH VFKDNHOHQ &RQWLQX ZLVVHQ KRJH VQHOಢ KHLG &RQWLQX ZLVVHQ PHW ODJH VQHOಢ KHLG 3 ,QWHUYDOVWDQG 6\VWHHP XLW c 4 0LVW IXQFWLH 0LVW IXQFWLH 2P GH UXLWHQZLVVHUV ELM PLVW RI PRWಢ UHJHQ ÚÚQ VODJ WH ODWHQ PDNHQ GUXNW X GH UXLWHQZLVVHUVFKDNHO
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 9RRU]LFKWLJ (HQ YHUPLQGHUG ]LFKW YHUKRRJW GH NDQV RS RQJHYDOOHQ HQ NDQ ]Rಢ GRHQGH SHUVRRQOLMN OHWVHO HQ VFKDGH DDQ GH DXWR RI DQGHUH JRHGHUHQ WRW JHYROJ KHEEHQ =HW GH UXLWHQZLVVHU YDQ GH YRRUUXLW QLHW DDQ DOV GH UXLW GURRJ LV RI DOV GH UXLWHQZLVVHU JHEORNNHHUG LV GRRU VQHHXZ RI LMV +HW JHEUXLN YDQ GH UXLWHQZLVVHUV RQGHU GH]H RPVWDQGLJKHGHQ NDQ VFKDGH DDQ KHW ZLVVHUEODG KHW UXLWHQZLVVHUಢ PHFKDQLVPH GH UXLWHQZLVVHUPRಢ WRU RI GH YRRUUXLW YHURRU]DNHQ &RQWUROHHU RI GH
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ :DDUVFKXZLQJ *HEUXLN GH UXLWHQVSURHLHU YRRU GH YRRUUXLW QLHW ELM WHPSHUDWXUHQ RQಢ GHU KHW YULHVSXQW $OV VSURHLHUಢ YORHLVWRI HQ ZLVVHUV ELM YULHVZHHU ZRUGHQ JHEUXLNW NDQ GLW WRW HHQ RQJHYDO OHLGHQ 'H VSURHLHUYORHLಢ VWRI NDQ QDPHOLMN EHYULH]HQ RS HHQ EHYURUHQ YRRUUXLW HQ XZ ]LFKW EHಢ OHPPHUHQ :LV ZDVLQVWDOODWLH DFKWHUUXLW :LV ZDVLQVWDOODWLH DFKWHUUXLW XLWVOXLWHQG KDWFKEDFN 8 ]HW GH ZLVVHU XLW GRRU GH NQRS LQ GH QHXWUDDOVWDQG WH GUXNNHQ 6SURHLHU :LVVHU 2P GH D
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 9RRU]LFKWLJ (HQ YHUPLQGHUG ]LFKW YHUKRRJW GH NDQV RS RQJHYDOOHQ HQ NDQ ]Rಢ GRHQGH SHUVRRQOLMN OHWVHO HQ VFKDGH DDQ GH DXWR RI DQGHUH JRHGHUHQ WRW JHYROJ KHEEHQ =HW GH UXLWHQZLVVHU YDQ GH DFKWHUಢ UXLW QLHW DDQ DOV GH UXLW GURRJ LV RI DOV GH UXLWHQZLVVHU JHEORNNHHUG LV GRRU VQHHXZ RI LMV +HW JHEUXLN YDQ GH UXLWHQZLVVHU RQGHU GH]H RPVWDQGLJKHGHQ NDQ VFKDGH DDQ KHW ZLVVHUEODG KHW UXLWHQZLVVHUPHFKDQLVPH GH UXLಢ WHQZLVVHUPRWRU RI GH DFKWHUUXLW YHURRU]DNHQ &RQWUROHHU ELM
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ /DQJ LQGUXNNHQ ODQJHU GDQ VHFRQGHQ .
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 2P GH DDQVWHNHU WH EHGLHQHQ GUDDLW X KHW FRQWDFWVORW LQ GH VWDQG $&& RI 21 HQ GUXNW X GH DDQVWHNHU YROOHGLJ LQ 'H DDQVWHNHU ]DO DXWRPDWLVFK QDDU EXLWHQ VSULQJHQ ZDQQHHU GH]H NODDU LV YRRU JHEUXLN 9RRU]LFKWLJ 2YHUYHUKLWWLQJ YDQ GH DDQVWHNHU NDQ GH JORHLVSLUDDO HQ GH DDQVWHಢ NHU ]HOI EHVFKDGLJHQ 'UXN QLHW RS GH DDQVWHNHU WHUZLMO GH]H ZRUGW RSJHZDUPG 'H DDQಢ VWHNHU NDQ KLHUGRRU RYHUYHUKLW UDಢ NHQ +HW EHGLHQHQ YDQ HHQ GHIHFWH DDQVWHNHU NDQ JHYDDU RSOHYHUHQ $OV GH Y
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 9RRU]LFKWLJ 6LJDUHWWHQ HQ DQGHUH URRNZDUHQ NXQQHQ GH]H ODWHQ RQWEUDQGHQ 6WRS JHHQ SDSLHU RI DQGHUH EUDQGಢ EDUH YRRUZHUSHQ LQ GH DVEDN (HQ DVEDNEUDQGMH NDQ OHLGHQ WRW SHUVRRQOLMN OHWVHO RI VFKDGH DDQ XZ DXWR HQ DQGHUH HLJHQGRPPHQ 'H GUDDJEDUH DVEDN NDQ LQ GH EHNHUಢ KRXGHUV ZRUGHQ JHSODDWVW 2P GH DVEDN WH RSHQHQ WLOW X KHW GHVಢ NHO YDQ GH DVEDN YRRU]LFKWLJ RS 6OXLW KHW GHNVHO QD JHEUXLN VWHYLJ DI 2P GH DVEDN WH OHJHQ GUDDLW X KHW ERYHQVWH JHGHHOWH YDQ GH DVEDN HHQ EHH
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 7RHUHQWHOOHU 'LHVHO! %HQ]LQH! /HW RS $OV X GH GDJWHOOHU ZLOW WHUXJVWHOOHQ QDDU QXO GUXNW X GH UHVHWNQRS LQ GH LQVWUXPHQWHQJURHS HQNHOH VHFRQಢ GHQ LQ :HHUJDYH YDQ KHW DDQWDO RPZHQWHಢ OLQJHQ SHU PLQXXW ,Q HONH YHUVQHOOLQJ ]R YHHO PRJHOLMN PHW HHQ ODDJ WRHUHQWDO ULMGHQ 9RRU]LFKWLJ $OV GH QDDOG LQ GH ZDDUVFKXZLQJVಢ ]RQH NRPW EHWHNHQW GLW GDW KHW PD[LPDDO WRHJHVWDQH WRHUHQWDO ZRUGW RYHUVFKUHGHQ 'LW YRUPW HHQ ULVLFR YRRU GH PRWRU
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ %UDQGVWRIPHWHU *HYDDU 9RRUGDW X JDDW WDQNHQ ]HW X GH DXWR VWLO HQ VFKDNHOW X GH PRWRU XLW 9HUVQHOOLQJVEDNGLVSOD\ *HHIW KHW EUDQGVWRISHLO LQ GH WDQN DDQ 7DQN QRRLW OHHJULMGHQ 'RRU EUDQGVWRIUHVWHQ LQ GH WDQN NDQ GH KRHYHHOKHLG EUDQGVWRI GLH NDQ ZRUGHQ ELMJHWDQNW NOHLQHU ]LMQ GDQ GH JHVSHFLILFHHUGH WDQNLQKRXG 'H EHZHJLQJHQ YDQ GH EUDQGVWRI LQ GH WDQN NDQ HUWRH OHLGHQ GDW GH DDQಢ ZLM]LQJ YDQ GH PHWHU HQLJV]LQV YDULಢ HHUW WLMGHQV UHPPHQ DFFHOHUHUHQ HQ KHW QHPHQ YDQ H
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ &RQWUROHODPSHQ LQ GH LQVWUXPHQWHQJURHS W\SH $
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ &RQWUROHODPSHQ LQ GH LQVWUXPHQWHQJURHS W\SH %
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 5LFKWLQJDDQZLM]HU . NQLSSHUW JURHQ .
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 'H FRQWUROHODPSHQ EHYLQGHQ ]LFK LQ KHW LQVWUXPHQWHQSDQHHO G YRRU GH SDVVDJLHUVDLUEDJ YRRULQ EUDQGW :DQQHHU GH FRQWUROHODPS EUDQGW LV GH SDVVDJLHUVDLUEDJ YRRULQ JHDFWLಢ YHHUG HQ PRHW RS GH YRRUVWH SDVVDಢ JLHUVVWRHO JHHQ EDE\ RI NLQGHU]LWMH ZRUGHQ JHàQVWDOOHHUG F YRRU GH SDVVDJLHUVDLUEDJ YRRULQ EUDQGW :DQQHHU GH FRQWUROHODPS EUDQGW LV GH SDVVDJLHUVDLUEDJ YRRULQ JHGHDFWLಢ YHHUG $LUEDJ GHDFWLYHUHQ /DDGV\VWHHP N EUDQGW URRG %UDQGW QD KHW LQVFKDNHOHQ YDQ KHW FRQWD
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ .
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ (OHNWURQLVFKH VWDELOLWHLWVUHJHOLQJ 8,7 D EUDQGW JHHO %UDQGW ELM XLWJHVFKDNHOG V\VWHHP $OV KHW ODPSMH QLHW GRRIW PRHW X GH PRWRU XLW]HWWHQ HQ ]R VQHO PRJHOLMN QDDU HHQ ZHUNSODDWV JDDQ :LM DGYLಢ VHUHQ X FRQWDFW RS WH QHPHQ PHW HHQ HUNHQGH ZHUNSODDWV 7UDFWLRQ &RQWURO V\VWHHP 8,7 9RRUJORHLHQ HQ URHWILOWHU N EUDQGW JHHO %UDQGW ELM XLWJHVFKDNHOG V\VWHHP EUDQGW JHHO %UDQGW ZDQQHHU GH YRRUJORHLIXQFWLH JHDFWLYHHUG LV $OV GH ODPS XLW JDDW NDQ GH PRWRU ZRUGHQ JHVWD
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ :DDUVFKXZLQJ %LM XLWJHVFKDNHOGH PRWRU JDDW UHPPHQ HQ VWXUHQ DDQPHUNHOLMN ]ZDDUGHU 'H VOHXWHO QLHW XLWQHPHQ YRRUGDW GH DXWR KHOHPDDO VWLOVWDDW RPGDW KHW VWXXUVORW DQGHUV SORWVHOLQJ NDQ ZRUGHQ JHDFWLYHHUG +HW ROLHSHLO FRQWUROHUHQ DOYRUHQV GH KXOS YDQ HHQ ZHUNSODDWV LQ WH URHSHQ 0RWRUROLH 7H ODDJ EUDQGVWRISHLO 8 EUDQGW JHHO %UDQGW ZDQQHHU KHW SHLO LQ GH EUDQGಢ VWRIWDQN WH ODDJ LV 9RRU]LFKWLJ 5LMG GH WDQN YDQ GH DXWR QLHW KHಢ OHPDDO OHHJ 'DW NDQ VFKDGH DD
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ > EUDQGW JURHQ %UDQGW ZDQQHHU KHW FUXLVH FRQWURO V\VWHHP LV JHDFWLYHHUG ,QIRUPDWLHGLVSOD\V 'ULYHU ,QIRUPDWLRQ &HQWHU 3RUWLHU RSHQ EUDQGW URRG %UDQGW ELM JHRSHQGH SRUWLHUHQ RI HHQ JHRSHQGH DFKWHUNOHS +HW 'ULYHU ,QIRUPDWLRQ &HQWHU ',& LV RQGHUJHEUDFKW LQ GH LQVWUXPHQWHQಢ JURHS 2P KHW PHQX WH VHOHFWHUHQ GUXNW X RS 0 0(18 LQ GH ULFKWLQJDDQZLM]HUಢ KHQGHO 7HONHQV ZDQQHHU X RS 0 0(18 GUXNW YHUDQGHUW GH ZHHUJDYH YROJHQV GH RQGHUVWDDQGH YROJRUGH .
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ ,QVWHOOHQ YDQ HHQKHGHQ ,QVWHOOHQ YDQ WDDO 8 NXQW GH WDDO RI GH HHQKHLG YRRU GH EUDQGVWRIPHWHU ZLM]LJHQ 8 NXQW HON PHQX VHOHFWHUHQ GRRU KHW VWHOZLHO LQ GH ULFKWLQJDDQZLM]HUKHQGHO WH YHUGUDDLHQ :DQQHHU GH DXWR QLHW LV XLWJHUXVW PHW KHW 'ULYHU ,QIRUPDWLRQ &HQWHU ',& GUXNW X GH WHUXJVWHONQRS LQ GH LQVWUXಢ PHQWHQJURHS NRUW LQ RP KHW PHQX WH VHOHFWHUHQ 7HONHQV ZDQQHHU X GH WHUXJVWHONQRS LQGUXNW YHUDQGHUW GH ZHHUJDYH YROಢ JHQV GH RQGHUVWDDQGH YROJRUGH GH IHLWHOLMNH
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ %LM KHW VHOHFWHUHQ YDQ HHQ HHQKHLG ]DO GH]H JDDQ NQLSSHUHQ 'UXN WHU EHYHVWLJLQJ RS GH WRHWV 6 6(7 &/5 /HW RS $OV GH KHQGHO YDQ GH ULFKWLQJDDQZLMಢ ]HU QLHW PHW WRHWVHQ XLWJHYRHUG LV NXQW X GH PHQX V VHOHFWHUHQ GRRU GH UHVHWNQRS RS KHW SDQHHO NRUW LQ WH GUXNNHQ HQ KHW PHQX LQVWHOOHQ GRRU GH UHVHWNQRS RS KHW SDQHHO ODQJHU LQ WH GUXNNHQ %RDUG ,QIR 'LVSOD\ :HHUJHJHYHQ ZRUGHQ GH GDWXP WLMG EXLWHQWHPSHUDWXXU HQ GH LQIRUPDWLH YDQ KHW LQIRWDLQPHQWV\VWHHP :DQQHHU KHW LQIRWD
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 1U %RRUGLQIRUPDWLH 5LFKWLQJDDQZLM]HU OLQNVYRRU GHIHFW 5LFKWLQJDDQZLM]HU OLQNVDFKWHU GHIHFW 5LFKWLQJDDQZLM]HU UHFKWVYRRU GHIHFW %LM KHW SDUNHUHQ YDQ GH DXWR HQ RI KHW RSHQHQ YDQ HHQ SRUWLHU 5LFKWLQJDDQZLM]HU UHFKWVDFKWHU GHIHFW $OV GH FRQWDFWVOHXWHO QRJ LQ KHW FRQWDFWVORW VWHHNW %LM LQJHVFKDNHOGH ULMYHUOLFKWLQJ 0RWRUYHUPRJHQ YHUPLQGHUG 'H ERRUGLQIRUPDWLH YHUVFKLMQW LQ GH YRUP YDQ FLMIHUFRGHV 2QGHUKRXG VSRHGLJ 1U %RRUGLQIRUPDWLH *HOXLGVV
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 7ULSFRPSXWHU 'H ERRUGFRPSXWHU LV RQGHUJHEUDFKW LQ KHW 'ULYHU ,QIRUPDWLRQ &HQWHU ',& 'H]H YRRU]LHW GH EHVWXXUGHU YDQ DOಢ OHUOHL ULM LQIRUPDWLH ]RDOV JHPLGGHOGH VQHOKHLG ULMDIVWDQG ELM UHVWHUHQGH EUDQGVWRIKRHYHHOKHLG JHPLGGHOG EUDQGVWRIYHUEUXLN HQ ULMWLMG *HPLGGHOGH VQHOKHLG 2P GH ERRUGFRPSXWHU WH JHEUXLNHQ GUXNW X RS 0 0(18 RS GH ULFKWLQJDDQಢ ZLM]HUKHQGHO 6HOHFWHHU KHW ERYHQVWH GLVSOD\ 1D VHOHFWLH JDDW GLW NQLSSHUHQ 7HONHQV ZDQQHHU X DDQ KHW VWHOZLHO GUDDLW
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ $FWLHUDGLXV PHW UHVWHUHQGH EUDQGVWRI 'H DFWLHUDGLXV YRRU GH UHVWHUHQGH EUDQGVWRI NDQ YHUVFKLOOHQ SHU EHಢ VWXXUGHU ZHJ HQ GH ULMVQHOKHLG RPಢ GDW KHW ZRUGW EHUHNHQG RS EDVLV YDQ GH ZLVVHOHQGH EUDQGVWRI]XLQLJKHLG 5LMWLMG *HPLGGHOG YHUEUXLN 'H]H PRGXV JHHIW GH JHVFKDWWH ULMDIಢ VWDQG DDQ PHW KHW KXLGLJH EUDQGVWRIಢ SHLO LQ GH EUDQGVWRIWDQN $OV X ELMWDQNW RS HHQ KHOOLQJ RI HHQ ORVJHNRSSHOGH DFFX NDQ GH WULSFRPಢ SXWHU GH ZHUNHOLMNH ZDDUGH QLHW DIOHಢ ]HQ /HW RS $OV KX
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ %OXHWRRWK LQVWHOOLQJHQ 9RHUWXLJLQVWHOOLQJHQ 3HUVRRQOLMNH LQVWHOOLQJHQ 7LMG HQ GDWXPLQVWHOOLQJHQ ,QIRWDLQPHQWV\VWHHP 5DGLR LQVWHOOLQJHQ ,QIRWDLQPHQWV\VWHHP %OXHWRRWK LQVWHOOLQJHQ ,QIRWDLQPHQWV\VWHHP 8 NXQW GH DXWR SHUVRQDOLVHUHQ GRRU GH LQVWHOOLQJHQ LQ KHW 'DVKERDUGLQIRUಢ PDWLHGLVSOD\ %,' WH ZLM]LJHQ $IKDQNHOLMN YDQ KHW XLWUXVWLQJVQLYHDX ]LMQ VRPPLJH YDQ GH KLHURQGHU EHಢ VFKUHYHQ IXQFWLHV HYHQWXHHO QLHW DDQಢ ZH]LJ 'UXN RS & &21),* WH
,QVWUXPHQWHQ HQ EHGLHQLQJVRUJDQHQ 9HUOLFKWLQJ ELM RQWJUHQGHOHQ $FWLಢ YHHUW RI GHDFWLYHHUW GH LQVWDSYHUಢ OLFKWLQJ 9HUOLFKWLQJVGXXU ELM XLWVWDSSHQ 6FKDNHOW GH XLWVWDSYHUOLFKWLQJ LQ RI XLW HQ ZLM]LJW GH YHUOLFKWLQJVGXXU &HQWUDOH SRUWLHUYHUJUHQGHOLQJ $XWRPDWLVFKH SRUWLHURQWJUHQGHOLQJ ,Q RI XLWVFKDNHOHQ YDQ DXWRPDWLಢ VFKH SRUWLHURQWJUHQGHOLQJ ELM JHಢ EUXLN YDQ DXWRPDWLVFKH SRUWLHUYHUಢ JUHQGHOLQJ 2RN YRRU KHW ZLM]LJHQ YDQ GH FRQಢ ILJXUDWLH ELM RQWJUHQGHOHQ DOOHHQ RQWJUHQGHOLQJ YDQ EHVWXXUGHUVSRUಢ W
9HUOLFKWLQJ 9HUOLFKWLQJ 5LMYHUOLFKWLQJ /LFKWVFKDNHODDU 5LMYHUOLFKWLQJ %LQQHQYHUOLFKWLQJ 9HUOLFKWLQJVIXQFWLHV %HGLHQLQJHQ ULMYHUOLFKWLQJ $872 GH ULMYHUOLFKWLQJ HQ GH LQVWUXಢ PHQWHQYHUOLFKWLQJ JDDQ DXWRPDWLVFK DDQ RI XLW DIKDQNHOLMN YDQ GH OLFKWಢ VWHUNWH EXLWHQ GH DFKWHUOLFKWHQ QXPPHUSODDWಢ YHUOLFKWLQJ HQ LQVWUXPHQWHQSDQHHOಢ YHUOLFKWLQJ EUDQGHQ GH NRSODPSHQ HQ DOOH ERYHQJHಢ QRHPGH YHUOLFKWLQJ JDDW EUDQGH
9HUOLFKWLQJ :DQQHHU HU EXLWHQ ZHLQLJ OLFKW LV HQ GH IXQFWLH YRRU DXWRPDWLVFKH YHUOLFKಢ WLQJ LV LQJHVFKDNHOG JDDQ GH ULMYHUಢ OLFKWLQJ HQ GH LQVWUXPHQWHQYHUOLFKWLQJ DXWRPDWLVFK DDQ 2P GH IXQFWLH XLW WH ]HWWHQ GUDDLW X GH NQRS QDDU GH VWDQG 2)) $OOH YHUOLFKWLQJ JDDW XLW HQ GH NQRS NRPW ZHHU WHUXJ LQ GH RRUVSURQNHOLMNH $872 VWDQG 2P YDQ GLPOLFKW QDDU JURRWOLFKW RP WH VFKDNHOHQ GXZW X WHJHQ GH KHQGHO 2P KHW GLPOLFKW LQ WH VFKDNHOHQ GXZW X QRJPDDOV WHJHQ GH KHQGHO RI X WUHNW HUDDQ .
9HUOLFKWLQJ .RSODPSLQVWHOOLQJ LQ KHW EXLWHQODQG $ODUPNQLSSHUOLFKWHQ 5LFKWLQJDDQZLM]HUV %HGLHQLQJ PHW WRHWV e 'UXN RS GH WRHWV RP GH DODUPNQLSಢ SHUOLFKWHQ LQ WH VFKDNHOHQ 2P GH DODUPNQLSSHUOLFKWHQ XLW WH VFKDNHOHQ GUXNW X RSQLHXZ RS GH NQRS +HQGHO RPKRRJ +HQGHO RPODDJ +HW DV\PPHWULVFKH GLPOLFKW ELHGW PHHU ]LFKW RS GH UDQG YDQ GH ZHJ DDQ GH SDVVDJLHUVNDQW 6WHO ELM KHW ULMGHQ LQ ODQGHQ PHW OLQNVಢ ULMGHQG YHUNHHU GH NRSODPSHQ ELM RP WHJHQOLJJHUV QLHW WH YHUEOLQGHQ .
9HUOLFKWLQJ 9RRU ODQJHU ULFKWLQJ DDQZLM]HQ GH KHQGHO WRW WHJHQ KHW ZHHUVWDQGVSXQW GXZHQ HQ YDVWKRXGHQ 6FKDNHO GH ULFKWLQJDDQZLM]HU KDQGಢ PDWLJ XLW GRRU GH KHQGHO RS GH RRUಢ VSURQNHOLMNH VWDQG WH ]HWWHQ 0LVWDFKWHUOLFKWHQ 'H DFKWHUXLWULMOLFKWHQ JDDQ EUDQGHQ ZDQQHHU KHW FRQWDFW LV LQJHVFKDNHOG HQ GH DXWR LQ GH DFKWHUXLWYHUVQHOOLQJ VWDDW %HVODJHQ ODPSJOD]HQ 0LVWODPSHQ YRRU 2P GH PLVWODPSHQ YRRU DDQ WH ]HWಢ WHQ GUXNW X RS 'H PLVWODPSFRQWUROHODPS EUDQGW ZDQQHHU GH PLVWODPSHQ DDQ ]LMQ 2P XLW WH ]
9HUOLFKWLQJ %LQQHQYHUOLFKWLQJ ,QWHULHXUYHUOLFKWLQJ /HW RS 'H DFFX NDQ OHHJUDNHQ ZDQQHHU GH YHUOLFKWLQJ JHGXUHQGH HHQ ODQJHUH WLMG LQJHVFKDNHOG EOLMIW :DDUVFKXZLQJ 9RRUNRP KHW JHEUXLN YDQ GH LQಢ VWDSYHUOLFKWLQJ ZDQQHHU X LQ KHW GRQNHU ULMGW $OV KHW SDVVDJLHUVFRPSDUWLPHQW LV YHUOLFKW ZRUGW KHW ]LFKW QDDU EXLWHQ YHUPLQGHUG ZDW WRW HHQ DDQULMGLQJ NDQ OHLGHQ %HGLHQ GH ZLSVFKDNHODDU ഓ DOWLMG DDQ WRW KHW KDQGPDWLJ ZRUGW XLWJHVFKDNHOG Z VFKDNHOW DXWRPDWLVFK LQ DOV HU HHQ SRUWLHU ZRUGW JHRSHQG HQ JDDW X
9HUOLFKWLQJ 8LWVWDSYHUOLFKWLQJ 'H NRSODPSHQ ]LMPDUNHULQJVOLFKWHQ HQ DFKWHUOLFKWHQ ]XOOHQ GH GLUHFWH RPಢ JHYLQJ HHQ LQVWHOEDUH WLMG YHUOLFKWHQ WHUZLMO X GH DXWR YHUODDW ,QVFKDNHOHQ $DQ HQ XLW]HWWHQ YDQ GH]H IXQFWLH HQ GH YHUOLFKWLQJVGXXU NXQQHQ ZRUGHQ JHZLM]LJG LQ GH 9RHUWXLJLQVWHOOLQJHQ 3HUVRRQOLMNH LQVWHOOLQJHQ $XWRಫV ]RQGHU DXWRPDWLVFKH YHUOLFKWLQJ &RQWDFW XLWVFKDNHOHQ &RQWDFWVOHXWHO YHUZLMGHUHQ %HVWXXUGHUVSRUWLHU RSHQHQ 5LFKWLQJDDQZLM]HUKHQGHO QDDU X WRH WUHNNHQ %HVWXX
,QIRWDLQPHQWV\VWHHP ,QIRWDLQPHQWV\VWHHP ,QOHLGLQJ $OJHPHQH DDQZLM]LQJHQ ,QOHLGLQJ 5DGLR $XGLRVSHOHUV 7HOHIRRQ +HW LQIRWDLQPHQWV\VWHHP YHU]RUJW GH LQIRWDLQPHQW LQ XZ DXWR PHW JHEUXLN YDQ GH QLHXZVWH WHFKQRORJLH 'H UDGLR NDQ JHPDNNHOLMN ZRUGHQ JHಢ EUXLNW GRRU SHU HONH ]HV SDJLQD V PD[LPDDO )0 RI $0 UDGLR]HQGHUV RS WH VODDQ RQGHU GH 922
,QIRWDLQPHQWV\VWHHP 6FKHUPZHHUJDYH 'H VFKHUPZHHUJDYH NDQ DIZLMNHQ YDQ GH ZHHUJDYH LQ GH KDQGOHLGLQJ RPGDW GH PHHVWH ZHHUJDYHQ NXQQHQ DIZLMNHQ QDDUJHODQJ GH LQVWHOOLQJ YDQ KHW DSSDUDDW HQ GH YRHUWXLJVSHFLILFDಢ WLH $QWLGLHIVWDOIXQFWLH ,Q KHW LQIRWDLQPHQWV\VWHHP LV HHQ HOHNWURQLVFKH EHYHLOLJLQJ JHàQWHಢ JUHHUG GLH GLHIVWDO YRRUNRPW +HW LQIRWDLQPHQWV\VWHHP IXQFWLRQHHUW DOOHHQ LQ GH DXWR ZDDULQ GLW KHW HHUVW LV JHàQVWDOOHHUG HQ NDQ QLHW ZRUGHQ JHEUXLNW GRRU PHQVHQ GLH KHW KHEEHQ JHVWROHQ
,QIRWDLQPHQWV\VWHHP 2YHU]LFKW EHGLHQLQJVHOHPHQWHQ 7\SH
,QIRWDLQPHQWV\VWHHP 7\SH $ 5DGLR &' 03 $8; 86% L3RG %OXHWRRWK 7\SH % 5DGLR &' 03 $8; 'LVSOD\ 'LVSOD\ YRRU ZHHUJDYH YDQ VWDWXV HQ LQIRUPDWLH RYHU DIVSHOHQ RQWಢ YDQJVW PHQX V 'UXN GUDDLNQRS $ $$1 8,7 92/80( ဈ =HW KHW DSSDUDDW DDQ RI XLW GRRU GH]H NQRS LQ WH GUXNNHQ ဈ 'UDDL GH NQRS RP KHW DOJHKHOH YROXPH LQ WH VWHOOHQ .QRSSHQ 9 9225.
,QIRWDLQPHQWV\VWHHP 'UXN GUDDLNQRS 0 0(18 781( ဈ 'UXN GH]H NQRS LQ RP GH KXLಢ GLJH IXQFWLHPHQX ZHHU WH JHಢ YHQ LQVWHOEDUH IXQFWLHV HQ LQಢ VWHOZDDUGHQ WH VHOHFWHUHQ RI ZLM]LJLQJHQ WH EHYHVWLJHQ ဈ 'UDDL GH GUDDLNQRS RP LQVWHOಢ EDUH IXQFWLHV RI LQVWHOZDDUGHQ WH GRRUORSHQ RI WH ZLM]LJHQ ,QJDQJ $ $8; 6OXLW HHQ H[WHUQH DXGLRVSHOHU DDQ RS GH]H LQJDQJ .QRS 3%$&. ဈ $QQXOHHU GH LQJHYRHUGH LQKRXG RI JD WHUXJ QDDU KHW YRULJH PHQX .QRS 7 7(/()221 67,/6&+$.
7\SH ,QIRWDLQPHQWV\VWHHP
,QIRWDLQPHQWV\VWHHP 7\SH $ 5DGLR &' 03 $8; 86% L3RG %OXHWRRWK 7\SH % 5DGLR &' 03 $8; 0HWHU 'LVSOD\ YRRU ZHHUJDYH YDQ VWDWXV HQ LQIRUPDWLH RYHU DIVSHOHQ RQWಢ YDQJVW PHQX V 'UXN GUDDLNQRS $ $$1 8,7 92/80( ဈ =HW KHW DSSDUDDW DDQ RI XLW GRRU GH]H NQRS LQ WH GUXNNHQ ဈ 'UDDL GH NQRS RP KHW DOJHKHOH YROXPH LQ WH VWHOOHQ .QRSSHQ 9 9225.
,QIRWDLQPHQWV\VWHHP 'UXN GUDDLNQRS 0 0(18 781( ဈ 'UXN GH]H NQRS LQ RP GH KXLಢ GLJH IXQFWLHPHQX ZHHU WH JHಢ YHQ LQVWHOEDUH IXQFWLHV HQ LQಢ VWHOZDDUGHQ WH VHOHFWHUHQ RI ZLM]LJLQJHQ WH EHYHVWLJHQ ဈ 'UDDL GH GUDDLNQRS RP LQVWHOಢ EDUH IXQFWLHV RI LQVWHOZDDUGHQ WH GRRUORSHQ RI WH ZLM]LJHQ ,QJDQJ $ $8; 6OXLW HHQ H[WHUQH DXGLRVSHOHU DDQ RS GH]H LQJDQJ .QRS 3%$&. ဈ $QQXOHHU GH LQJHYRHUGH LQKRXG RI JD WHUXJ QDDU KHW YRULJH PHQX .QRS 7 7(/()221 67,/6&+$.
,QIRWDLQPHQWV\VWHHP 7\SH DXGLREHGLHQLQJ DDQ VWXXUZLHO .QRS 6 6WLOVFKDNHOHQ 2SKDQJHQ 'UXN GH NQRS LQ RP GH VWLOVFKDಢ NHOIXQFWLH DDQ RI XLW WH ]HWWHQ 1LHW EHVFKLNEDDU 'UXN GUDDLNQRS 6 6RXUFH >G65&F@ ဈ 'UXN GH NQRS LQ RP HHQ DIಢ VSHHOIXQFWLH YRRU JHOXLG WH NLHಢ ]HQ ဈ 'UDDL GH NQRS RP RSJHVODJHQ UDGLR]HQGHUV WH ZLM]LJHQ RI RP DQGHUH PX]LHN WH NLH]HQ RP DI WH VSHOHQ .
,QIRWDLQPHQWV\VWHHP $XWRPDWLVFK XLW]HWWHQ :DQQHHU KHW FRQWDFWVORW FRQWDFWಢ VOHXWHO YDQ DXWR LQ GH 2)) VWDQG VWDDW HQ KHW LQIRWDLQPHQWV\VWHHP ZRUGW PHW GH $ $$1 8,7 92/80( NQRS DDQJH]HW ZRUGW KHW LQIRWDLQಢ PHQWV\VWHHP PLQXWHQ QD GH ODDWಢ VWH EHGLHQLQJ GRRU GH JHEUXLNHU DXಢ WRPDWLVFK XLWJHVFKDNHOG 9ROXPHUHJHOLQJ *HEUXLN GH UHJHONQRS RS GH VWXXUಢ ZLHOEHGLHQLQJ GUXN RS GH 92/80( > @ WRHWVHQ RP KHW YRಢ OXPH DDQ WH SDVVHQ +HW KXLGLJH JHOXLGVQLYHDX ZRUGW DDQJHJHYHQ %LM DDQ]HWWHQ YDQ KHW L
,QIRWDLQPHQWV\VWHHP 'UDDL 0 0(18 781( RP GH JHZHQVWH NODQNLQVWHOZDDUGH WH VHOHFWHUHQ HQ GUXN YHUYROJHQV RS 0 0(18 781( 8 NXQW KHW KXLGLJH JHVHOHFWHHUGH LWHP LQLWLDOLVHUHQ GRRU LQ GH NODQNFRQILJXಢ UDWLHPRGXV ODQJGXULJ RS 0 0(18 781( WH GUXNNHQ RI DOOH LWHPV YDQ GH NODQNFRQILJXUDWLHPRGXV LQLWLDOLVHUHQ GRRU ODQJGXULJ RS 7 721( WH GUXNNHQ .
,QIRWDLQPHQWV\VWHHP $XGLR DIVSHOHQ YDQDI &' 03 86% L3RG %OXHWRRWK RI HHQ H[WHUQH DXGLRVSHOHU $8; LQJDQJ 'UXN PHHUGHUH PDOHQ RS & &' $8; RP WH ZLVVHOHQ WXVVHQ GH DXGLRVSHOHUಢ IXQFWLHV GH $8; IXQFWLH YRRU &' 03 GLVNV RI GH DDQJHVORWHQ 86% L3RG RI %OXHWRRWK DXGLRVSHOHU &' 03 ඎ $8; ඎ 86% RI L3RG %OXHಢ WRRWK DXGLR ඎ &' 03 ඎ 'UXN RS GH VWXXUZLHOEHGLHQLQJ RS 6RXUFH >G65&F@ RP GH JHZHQVWH PRGXV WH VHOHFWHUHQ +DQGHQYULM WHOHIRQHUHQ PHW %OXHWRRWK 'UXN RS 0 0(18 781( RP KHW PHQX WH RSHQHQ P
,QIRWDLQPHQWV\VWHHP 0 0(18 781( PHW GUDDLNQRS 'UDDL GH NQRS RP QDDU KHW PHQX RI KHW LQ WH VWHOOHQ LWHP WH JDDQ 'UXN GH NQRS LQ RP LQ KHW KXLGLJH PHQX RI LQ KHW WH VWHOOHQ LWHP QDDU KHW JHGHWDLOOHHUGH LQVWHOOLQJHQYHQಢ VWHU WH JDDQ RI GLW WH VHOHFWHUHQ .QRS 3 % %$&. +HW LQJHYRHUGH LWHP DQQXOHUHQ RI WHಢ UXJJDDQ QDDU KHW YRULJH VFKHUP PHQX 'UXN RS GH 7 7(/()221 67,/6&+$.
,QIRWDLQPHQWV\VWHHP +HUKDDO GH]H KDQGHOLQJ DOV GH EHಢ WUHIIHQGH JHGHWDLOOHHUGH OLMVW EHಢ VWDDW XLW PHHUGHUH LWHPV 9RHU GH EHWUHIIHQGH LQVWHOZDDUGH LQ RI ZLM]LJ GH]H DQGHUV YHUDQGHUW GH IXQFWLH ,QIRUPDWLHWDEHO YRRU LQVWHOOLQJHQ >7LMG 'DWXP@ :HHUJHJHYHQ ZRUGW HHQ OLMVW PHW GHWDLOV YRRU KHW EHWUHIIHQGH LQVWHOಢ PHQX RI IXQFWLH $OV GH EHWUHIIHQGH OLMVW PHW GHWDLOV QRJ HHQ DQGHUH JHGHWDLOOHHUGH OLMVW KHHIW NXQW X GH]H DFWLH KHUKDOHQ 'UDDL DDQ 0 0(18 781( RP QDDU GH JHZHQVWH LQVWHOZDDUGHQ RI I
,QIRWDLQPHQWV\VWHHP 'DWXPZHHUJDYH LQVWHOOHQ .
,QIRWDLQPHQWV\VWHHP )DEULHNVLQVWHOOLQJHQ KHUVWHOOHQ :LV DOOH LQJHVWHOGH ZDDUGHQ HQ KHUVWHO GH VWDQGDDUGLQVWHOOLQJHQ 5DGLR $0 )0 UDGLR %LM KHW JHEUXLN YDQ GH $0 )0 UDGLR +RRIGNQRSSHQ GUDDLNQRS .QRS 5 5$',2 %$1' :LVVHOHQ WXVVHQ )0 HQ $0 JROIಢ OHQJWH 'UXN GUDDLNQRS 0 0(18 781( 'UDDL GH]H GUXNNQRS GUDDLNQRS RP KDQGPDWLJ HHQ ]HQGHUIUHTXHQWLH WH YLQGHQ 'UXN RS GH]H NQRS RP YDQXLW GH KXLGLJH PRGXV QDDU KHW PHQXಢ VFKHUP WH JDDQ .QRS 3 % %$&.
,QIRWDLQPHQWV\VWHHP /XLVWHUHQ QDDU UDGLR]HQGHUV $XWRPDWLVFK ]HQGHU ]RHNHQ =RHNHQ 'UXN RS GH G6((.F NQRSSHQ RP DXWRPDWLVFK WH ]RHNHQ QDDU EHVFKLNಢ EDUH UDGLR]HQGHUV PHW HHQ JRHGH RQWYDQJVW +RXG GH G6((.
,QIRWDLQPHQWV\VWHHP +DQGPDWLJ ]RHNHQ QDDU UDGLR]HQGHUV 0HW EHKXOS YDQ GH 9225.(8=( NQRSSHQ 2SVODDQ RQGHU 9225.(8=( NQRS 'UDDL DDQ 0 0(18 781( RP GH JHಢ ZHQVWH ]HQGIUHTXHQWLH KDQGPDWLJ WH YLQGHQ 'UXN RS ) )$925,(7(1 >) )$9 @ RP GH JHZHQVWH SDJLQD PHW RSJHVODಢ JHQ IDYRULHWHQ WH VHOHFWHUHQ +RXG HHQ YDQ GH 9225.
,QIRWDLQPHQWV\VWHHP 5HFKWVWUHHNV OXLVWHUHQ YLD 9225.(8=( NQRS 'UXN PHHUGHUH PDOHQ RS )$925,(7(1 >) )$9 @ RP GH JHಢ ZHQVWH )$9 YRRUNHX]HSDJLQD PHW IDYRULHWHQ WH VHOHFWHUHQ 'H ]HQGLQIRUPDWLH YRRU QXPPHU RS GH JHVHOHFWHHUGH )$9 YRRUNHX]HSDಢ JLQD )DYRULHWHQ ZRUGW JHWRRQG 'UXN RS HHQ YDQ GH 9225.
,QIRWDLQPHQWV\VWHHP $0 )0 PHQX ඎ )0 $0 ]HQGHUOLMVW $0 )0 PHQX ඎ )0 FDWHJRULHÜQOLMVW 'UDDL LQ KHW )0 $0 PHQX DDQ GH 0(18 781( RP QDDU GH )0 $0 ]HQGHUOLMVW WH JDDQ HQ GUXN YHUYROಢ JHQV RS 0 0(18 781( 'H LQIRUPDWLH LQ GH =HQGHUOLMVW ZRUGW JHWRRQG 'UDDL 0 0(18 781( RP QDDU GH JHಢ ZHQVWH OLMVW WH JDDQ HQ GUXN YHUYROಢ JHQV RS 0 0(18 781( RP GH EHWUHIಢ IHQGH UDGLR]HQGHU WH RQWYDQJHQ 'UDDL LQ KHW )0 $0 PHQX DDQ 0(18 781( RP QDDU GH )0 FDWHಢ JRULHÜQOLMVW WH JDDQ HQ GUXN YHUYROಢ JHQV RS 0 0(18 781( 'H
,QIRWDLQPHQWV\VWHHP 5DGLR 'DWD 6\VWHP 5'6 &RQILJXUHUHQ YDQ 5'6 +HW UDGLRGDWDV\VWHHP 5'6 LV HHQ GRRU )0 ]HQGHUV PHHJH]RQGHQ VHUYLFH GLH KHW YLQGHQ YDQ UDGLRಢ ]HQGHUV PHW HHQ VWRULQJVYULMH RQWಢ YDQJVW YHUJHPDNNHOLMNW 5'6 ]HQGHUV ZRUGHQ DDQJHGXLG PHW GH SURJUDPPDQDDP LQ SODDWV YDQ GH ]HQGIUHTXHQWLH 5'6 ]HQGLQIRUPDWLH EHNLMNHQ 'UXN WHUZLMO HHQ 5'6 ]HQGHU ZRUGW RQWYDQJHQ RS ,,1)250$7,( >,,1)2@ RP GH RQWYDQJHQ 5'6 ]HQGLQIRUPDಢ WLH WH EHNLMNHQ 'UXN RS & &21),* RP KHW V\VWHHPLQಢ VWHOPHQX ZHHU WH JHY
,QIRWDLQPHQWV\VWHHP ,Q HQ XLWVFKDNHOHQ YDQ UHJLR LQVWHOOLQJ 5'6 PRHW ]LMQ JHDFWLYHHUG YRRU GH UHJLR LQVWHOOLQJ 2S EHSDDOGH WLMGHQ ]HQGHQ VRPPLJH 5'6 ]HQGHUV UHJLRQDDO DQGHUH SURಢ JUDPPD V XLW RS YHUVFKLOOHQGH IUHಢ TXHQWLHV 6WHO GH RSWLH 5HJLR LQVWHOOLQJ 5(* LQ RS $DQ RI 8LW $OOHHQ DOWHUQDWLHYH IUHTXHQWLHV $) PHW GH]HOIGH UHJLRQDOH SURJUDPPD V ZRUGHQ JHVHOHFWHHUG ,V GH UHJLR LQVWHOOLQJ XLWJHVFKDNHOG ZRUGHQ DOWHUQDWLHYH IUHTXHQWLHV YRRU GH ]HQGHUV JHVHOHFWHHUG ]RQGHU UHಢ NHQLQJ WH KRXGHQ PHW UHJ
,QIRWDLQPHQWV\VWHHP 'UXN EXLWHQ GH 7HOHIRRQPRGXV RS 73 RP GH YHUNHHUVEHULFKWHQIXQFWLH DDQ RI XLW WH ]HWWHQ 'UDDL LQ KHW 5'6 LQVWHOPHQX DDQ 0(18 781( RP QDDU 7$ YROXPH WH JDDQ HQ GUXN YHUYROJHQV RS 0 0(18 781( 'UDDL DDQ 0 0(18 781( RP KHW 7$ YROXPHQLYHDX DDQ WH SDVVHQ HQ GUXN YHUYROJHQV RS 0 0(18 781( 5DGLRYHUNHHULQIRUPDWLHVHUYLFH 73 YHUNHHUVSURJUDPPD =HQGHUV PHW UDGLRYHUNHHULQIRUPDWLHಢ VHUYLFH ]LMQ 5'6 ]HQGHUV GLH YHUಢ NHHULQIRUPDWLH XLW]HQGHQ 6WDQG E\ YHUNHHUVEHULFKWHQIXQFWLH YDQ KHW LQIRWD
,QIRWDLQPHQWV\VWHHP 9DVWH DQWHQQHVWDDI 'UXN EXLWHQ GH 7HOHIRRQPRGXV RS 73 6FKDNHO GH UDGLRYHUNHHULQIRUPDWLHಢ VHUYLFH LQ HQ GUDDL KHW YROXPH YDQ KHW LQIRWDLQPHQWV\VWHHP KHOHPDDO WHUXJ +HW YHUNHHUVEHULFKW ZRUGW DIJHEURಢ NHQ PDDU GH UDGLRYHUNHHULQIRUPDWLHಢ VHUYLFH EOLMIW LQJHVFKDNHOG %ORNNHUHQ YDQ KXLGLJH YHUNHHUVEHULFKWHQ 2P HHQ KXLGLJ YHUNHHUVEHULFKW WH EORNNHUHQ ELMYRRUEHHOG WLMGHQV EHಢ OXLVWHUHQ YDQ HHQ UDGLR]HQGHU PHW YHUNHHUVLQIRUPDWLHVHUYLFH 'UXN EXLWHQ GH 7HOHIRRQPRGXV RS 73 2P GH GDND
,QIRWDLQPHQWV\VWHHP 9RRU]LFKWLJ =RUJ GDW X GH DQWHQQH YHUZLMGHUG YRRUGDW X HHQ UXLPWH LQULMGW PHW HHQ ODDJ SODIRQG RPGDW KHW DQಢ GHUV EHVFKDGLJG NDQ ZRUGHQ $OV X HHQ DXWRPDWLVFKH ZDVVWUDDW LQ ULMGW PHW HHQ XLWJHWURNNHQ DQಢ WHQQH NDQ GH DQWHQQH RI KHW GDNಢ SDQHHO EHVFKDGLJG UDNHQ 9HUZLMಢ GHU GH DQWHQQH DOYRUHQV HHQ DXಢ WRPDWLVFKH ZDVVWUDDW LQ WH ULMGHQ 'UDDL GH DQWHQQH YROOHGLJ YDVW HQ VWHO GH]H UHFKWRS LQ YRRU HHQ JRHGH RQWಢ YDQJVW $XGLRVSHOHUV &G VSHOHU 'H &' 03 VSHOHU YDQ GLW V\VWHHP NDQ DXGLR &'
,QIRWDLQPHQWV\VWHHP $OV ]LFK VWRI DI]HW RS GH GLVN RI GH]H QDW ZRUGW GRRU HHQ YORHLVWRI NDQ GH OHQV YDQ GH &' 03 VSHOHU ELQQHQ LQ KHW DSSDUDDW KLHUGRRU YHUYXLOG UDಢ NHQ %HVFKHUP GH GLVN WHJHQ KLWWH HQ EORRWVWHOOLQJ DDQ GLUHFW ]RQOLFKW %UXLNEDUH GLVNW\SHQ 'LW SURGXFW NDQ DXGLR &' V HQ 03 GLVNV :0$ DIVSHOHQ ဈ &' '$ &' 5 &' 5: ဈ 03 :0$ &' 5 &' 5: &' 520 'H KLHURQGHU YHUPHOGH 03 EHಢ VWDQGHQ :0$ NXQQHQ QLHW ZRUಢ GHQ DIJHVSHHOG ဈ %HVWDQGHQ JHFRGHHUG YROJHQV GH 03 L LQWHUDFWLHYH 0
,QIRWDLQPHQWV\VWHHP 6PHHU JHHQ FKHPLVFKH PLGGHOHQ RS GH GLVN 5HLQLJ GLVNV PHW HHQ LHWV EHYRFKWLJGH ]DFKWH GRHN HQ ZULMI YDQXLW KHW PLGGHQ QDDU GH UDQG WRH $DQZLM]LQJ ELM KHW JHEUXLN YDQ &' 5 5: GLVNV %LM KHW JHEUXLN YDQ &' 5 5: GLVNV NXQQHQ DOOHHQ GLVNV ZRUGHQ JHಢ EUXLNW GLH ]LMQ DIJHVORWHQ 'LVNV GLH ]LMQ DDQJHPDDNW PHW HHQ SF ZRUGHQ VRPV QLHW DIJHVSHHOG GDW KDQJW DI YDQ GH LQVWHOOLQJ HQ VRIWZDUH YDQ KHW EUDQGSURJUDPPD &' 5 &' 5: GLVNV PHW QDPH ]J EXON GLVNV ZHUNHQ VRPV QLHW JRHG DOV ]
,QIRWDLQPHQWV\VWHHP ဈ 7UDQVPLVVLHVQHOKHLG NESV a NESV ဈ 6DPSOLQJIUHTXHQWLH N+] N+] N+] YRRU 03(* N+] N+] N+] YRRU 03(* 'LW SURGXFW NDQ EHVWDQGHQ DIVSHOHQ PHW HHQ NESV a NESV WUDQVಢ PLVVLHVQHOKHLG PDDU EHVWDQGHQ PHW WUDQVPLVVLHVQHOKHLG YDQ PHHU GDQ NESV JHYHQ HHQ NZDOLWDWLHI EHWHU JHOXLG 'LW SURGXFW NDQ ,' 7DJ LQIRUPDWLH YHUVLH RI ZHHUJHYHQ YRRU 03 ODQGHQ ]RDOV GH DOEXPQDDP HQ GH DUWLHVW 2P LQIRUPDWLH RYHU KHW D
,QIRWDLQPHQWV\VWHHP 'H GLVN LQEUHQJHQ 6WHHN GH DI WH VSHOHQ GLVN LQ GH GLVಢ NVSHOHU PHW GH DIJHGUXNWH ]LMGH QDDU ERYHQ WRH =RGUD GH GLVNLQIRUPDWLH LV XLWJHOHಢ ]HQ ZRUGW GH]H DXWRPDWLVFK YDQDI VRQJ DIJHVSHHOG :DQQHHU HHQ QLHW OHHVEDUH GLVN LV LQJHOHJG ZRUGW GH GLVN DXWRPDಢ WLVFK XLWJHZRUSHQ HQ HHQ GLVNIRXWಢ PHOGLQJ ZHHUJHJHYHQ KHW V\Vಢ WHHP VFKDNHOW YHUYROJHQV QDDU GH YRULJH JHEUXLNWH IXQFWLH RI QDDU )0 UDGLR :DQQHHU HHQ DI WH VSHOHQ GLVN DO LV LQJHOHJG GUXN GDQ PHHUGHUH PDOHQ RS & &'
,QIRWDLQPHQWV\VWHHP 'H GLVN XLWZHUSHQ 2P GH GLVN XLW WH ZHUSHQ GUXNW X RS GH NQRS 8 8,7:(53(1 RP GH GLVN XLW WH QHPHQ 7HUZLMO GH GLVN QDDU EXLWHQ NRPW VFKDNHOW KHW V\VWHHP DXWRPDWLVFK QDDU GH YRULJH JHEUXLNWH IXQFWLH RI QDDU )0 UDGLR :DQQHHU GH GLVN QD HQLJH WLMG QLHW ZRUGW YHUZLMGHUG ]DO GH]H DXWRPDಢ WLVFK ZHHU LQODGHQ (HQ DQGHUH VRQJ DIVSHOHQ 'UXN RS GH G6((.
,QIRWDLQPHQWV\VWHHP (HQ DQGHUH DIVSHHOSRVLWLH NLH]HQ +RXG GH G6((.
,QIRWDLQPHQWV\VWHHP 7DJ LQIRUPDWLH NDQ QLHW ZRUGHQ JHಢ ZLM]LJG RI JHFRUULJHHUG GRRU KHW LQಢ IRWDLQPHQWV\VWHHP ,' 7DJV NXQಢ QHQ DOOHHQ RS HHQ SF ZRUGHQ JHಢ FRUULJHHUG :DQQHHU LQIRUPDWLH ELM VRQJV GH YRUP KHHIW YDQ VSHFLDOH V\PEROHQ RI LV EHVFKUHYHQ LQ QLHW EHVFKLNಢ EDUH WDOHQ ZRUGW GH]H ZHHUJHJHಢ YHQ DOV RI KHOHPDDO QLHW 'UXN LQ GH DIVSHHOPRGXV RS 0 0(18 781( RP KHW &' PHQX ZHHU WH JHಢ YHQ &' PHQX ඎ 6RQJOLVW +HW &' PHQX JHEUXLNHQ 'H DIVSHHOPRGXV ZLM]LJHQ 'UDDL DDQ 0 0(18 781( RP GH
,QIRWDLQPHQWV\VWHHP &' PHQX ඎ =RHNHQ LQ PDSSHQ 'UDDL ELM 03 GLVNV :0$ LQ KHW &' PHQX DDQ 0 0(18 781( RP QDDU GH JHZHQVWH PDS WH JDDQ HQ GUXN YHUಢ YROJHQV RS 0 0(18 781( 'UDDL DDQ 0 0(18 781( RP QDDU GH JHZHQVWH PDS WH JDDQ HQ GUXN YHUಢ YROJHQV RS 0 0(18 781( &' PHQX ඎ =RHNHQ 'UDDL DDQ 0 0(18 781( RP GH JHಢ ZHQVWH VRQJ WH YLQGHQ HQ GUXN YHUಢ YROJHQV RS 0 0(18 781( RP GH JHಢ VHOHFWHHUGH VRQJ YDQXLW GH JHVHOHFಢ WHHUGH PDS DI WH VSHOHQ 'UDDL ELM 03 GLVNV >:0$@ LQ KHW &' PHQX DDQ 0 0(18 781(
,QIRWDLQPHQWV\VWHHP +HW NDQ VRPV ODQJH WLMG GXUHQ YRRUಢ GDW GH GLVN JHKHHO LV XLWJHOH]HQ DIಢ KDQNHOLMN YDQ KHW DDQWDO PX]LHNEHಢ VWDQGHQ 'UDDL DDQ 0 0(18 781( RP GH JHಢ ZHQVWH VRQJ WLWHO WH YLQGHQ HQ GUXN YHUYROJHQV RS 0 0(18 781( RP GH JHVHOHFWHHUGH VRQJ DI WH VSHOHQ 5DQGDSSDUDWXXU 86% VSHOHU 'UDDL DDQ 0 0(18 781( RP QDDU KHW JHGHWDLOOHHUGH FODVVLILFDWLH LWHP WH JDDQ HQ GUXN YHUYROJHQV RS 0 0(18 781( 'UXN RSQLHXZ RS 0 0(18 781( HQ GUDDL YDQXLW KHW ZHHUJHJHYHQ ]RHNLಢ WHP DDQ 0 0(18 781( RP
,QIRWDLQPHQWV\VWHHP 2P KHW 86% DSSDUDDW ORV WH PDNHQ JHEUXLNW X 86% PHQX ඎ 86% YHUಢ ZLMGHUHQ PHW JHEUXLN YDQ 0 0(18 781( RP YHUZLMGHUHQ YDQ 86% XLW WH YRHUHQ 'H FRUUHFWH ZHUNLQJ LV QLHW JHJDಢ UDQGHHUG ZDQQHHU KHW 86% DSSDಢ UDDW JHHQ PHWDOHQ DDQVOXLWHOHPHQW KHHIW $DQVOXLWHQ YDQ 86% RSVODJDSSDಢ UDWXXU YDQ KHW L 6WLFN W\SH JHHIW PRಢ JHOLMN VWRULQJHQ GRRU WULOOLQJHQ YDQ GH DXWR GDDURP NDQ GH ZHUNLQJ HUಢ YDQ QLHW ZRUGHQ JHJDUDQGHHUG :HHV YRRU]LFKWLJ HQ UDDN GH 86% DDQVOXLWLQJ QLHW DDQ PHW HHQ YRRU
,QIRWDLQPHQWV\VWHHP DIJHVSHHOG 2P GH]H UHGHQ GLHQHQ DI WH VSHOHQ PX]LHNEHVWDQGHQ VWHHGV WH ZRUGHQ RSJHVODJHQ LQ KHW ERYHQVWH QLYHDX YROXPH YDQ KHW DSSDUDDW 0X]LHNEHVWDQGHQ LQ VRPPLJH 86% RSVODJDSSDUDWHQ ]XOOHQ PRJHOLMN RRN QLHW QRUPDDO DIಢ VSHOHQ ZDQQHHU HHQ WRHSDVVLQJ ZRUGW JHODGHQ GRRU ELQQHQ KHW 86% DSSDUDDW HHQ DI]RQGHUOLMN YRಢ OXPH WH SDUWLWLRQHUHQ 0X]LHNEHVWDQGHQ ZDDURS '50 'LJLWDO 5LJKW 0DQDJHPHQW YDQ WRHSDVVLQJ LV NXQQHQ QLHW ZRUGHQ DIJHVSHHOG 'LW SURGXFW NDQ 86% RSVODJDSSDಢ UDWHQ RQ
,QIRWDLQPHQWV\VWHHP 9%5 W\SH ZRUGW DIJHVSHHOG NDQ GH UHVWHUHQGH DIVSHHOWLMG DIZLMNHQ YDQ GH ZHUNHOLMN UHVWHUHQGH DIVSHHOWLMG +RRIGNQRSSHQ GUDDLNQRS 'H YROJHQGH KRRIGNQRSSHQ HQ GUDDLಢ NQRS ZRUGHQ JHEUXLNW RP 86% PXಢ ]LHNEHVWDQGHQ DI WH VSHOHQ .
,QIRWDLQPHQWV\VWHHP :DQQHHU KHW DI WH VSHOHQ 86% RSಢ VODJDSSDUDDW DO LV DDQJHVORWHQ GUXNW X PHHUGHUH PDOHQ RS & &' $8; RP GH 86% VSHOHU WH VHOHFWHUHQ +LM ]DO GDQ DXWRPDWLVFK DIVSHOHQ YDQDI KHW SXQW ZDDURS DIVSHOHQ HHUಢ GHU ZHUG RQGHUEURNHQ 'H IXQFWLHV YDQ GH 86% VSHOHU ZRUGHQ YHUGHU RS LGHQWLHNH ZLM]H EHGLHQG DOV ELM DIVSHOHQ YDQ &' V HQ 03 EHVWDQGHQ $IVSHOHQ YDQ 86% PX]LHNEHVWDQGHQ EHÜLQGLJHQ 'UXN RS 5 5$',2 %$1' RI & &' $8; RP DQGHUH IXQFWLHV WH VHOHFWHUHQ 2P DIVSHOHQ WH EHÜLQGLJHQ HQ KHW 86%
,QIRWDLQPHQWV\VWHHP +RXG GH]H NQRSSHQ LQJHGUXNW RP VQHO YRRUXLW RI WHUXJ WH VSRHOHQ HQ ODDW GDQ ZHHU ORV RP RS QRUPDOH VQHOKHLG DI WH VSHOHQ .QRS ,,1)250$7,( >,,1)2@ 9RRU KHW ZHHUJHYHQ YDQ LQIRUPDWLH RYHU GH DIJHVSHHOGH RSQDPH .QRS 3 % %$&.
,QIRWDLQPHQWV\VWHHP SURGXFW DXWRPDWLVFK QDDU GH YRULJH JHEUXLNWH IXQFWLH RI QDDU GH )0 UDಢ GLRIXQFWLH :DQQHHU GH DI WH VSHOHQ L3RG DO LV DDQJHVORWHQ GUXN GDQ PHHUGHUH PDಢ OHQ RS & &' $8; RP GH L3RG VSHOHU WH VHOHFWHUHQ +LM ]DO GDQ DXWRPDWLVFK DIVSHOHQ YDQDI KHW SXQW ZDDURS DIVSHOHQ HHUGHU ZHUG RQGHUEURNHQ 'H ELM GLW SURGXFW JHEUXLNWH DIVSHHOಢ IXQFWLHV HQ GH LWHPV YRRU LQIRUPDಢ WLHZHHUJDYH RS GH L3RG VSHOHU NXQಢ QHQ DIZLMNHQ YDQ GH L3RG DOV KHW JDDW RP GH DIVSHHOYROJRUGH ZHUಢ NLQJ HQ JHWRRQG
,QIRWDLQPHQWV\VWHHP 'UDDL 0 0(18 781( RP QDDU GH IXQFಢ WLH L3RG XLWZHUSHQ WH JDDQ HQ GUXN YHUYROJHQV RS 0 0(18 781( RP GH PHOGLQJ ZHHU WH JHYHQ GLH DDQJHHIW GDW KHW DSSDUDDW YHLOLJ NDQ ZRUGHQ YHUZLMGHUG 2QWNRSSHO KHW L3RG DSSDUDDW YDQ GH 86% DDQVOXLWLQJ *D WHUXJ QDDU GH YRULJH LQ JHEUXLN ]LMQGH IXQFWLH ,QJDQJ YRRU H[WHUQH VSHOHUV $8; 'UDDL GH NQRS RP KHW YROXPH WH UHಢ JHOHQ (HQ H[WHUQH VSHOHU DDQVOXLWHQ 6OXLW GH DXGLR XLWJDQJ YDQ GH H[WHUQH DXGLRVSHOHU DDQ RS $8; LQJDQJ RI $8; RQGHUJHEUDFKW
,QIRWDLQPHQWV\VWHHP 7HOHIRRQ %OXHWRRWK +RRIGNQRSSHQ GUDDLNQRS 'H YROJHQGH KRRIGNQRSSHQ HQ GUDDLಢ NQRS ZRUGHQ JHEUXLNW RP PX]LHNEHಢ VWDQGHQ DI WH VSHOHQ RI RP WHOHIRRQಢ IXQFWLHV YLD HHQ %OXHWRRWK DSSDUDDW WH JHEUXLNHQ .
,QIRWDLQPHQWV\VWHHP :HHUJHJHYHQ ZRUGW 9HUELQGLQJ VWDQGE\ VDPHQ PHW HHQ EHULFKW HQ HHQ YHLOLJKHLGVFRGH 'H EHJLQಢ ZDDUGH LV X NXQW GLW ZLM]LJHQ YLD 6\VWHHPLQVWHOOLQJ ඎ %OXHWRRWK LQVWHOOLQJHQ ඎ %OXHWRRWK ඎ %OXHಢ WRRWK FRGH ZLM]LJHQ +HW LQIRWDLQPHQWV\VWHHP NDQ ZRUGHQ JHYRQGHQ GRRU WH ]RHNHQ QDDU KHW WH NRSSHOHQ %OXHWRRWK DSSDUDDW 9RHU YLD KHW %OXHWRRWK DSSDUDDW GH YHLOLJKHLGVFRGH YRRU KHW LQIRWDLQಢ PHQWV\VWHHP LQ :DQQHHU GH DDQPHOGLQJ YDQ KHW DDQ KHW LQIRWDLQPHQWV\VWHHP WH NRSSHOHQ DSSDUDDW VXF
,QIRWDLQPHQWV\VWHHP 'UXN RS & &21),* HQ JHEUXLN GH 0(18 781( GUXN GUDDLNQRS RP QDDU 6\VWHHPLQVWHOOLQJ ඎ %OXHWRRWK LQVWHOOLQJHQ ඎ %OXHWRRWK ඎ $SSDUDWHQಢ OLMVW WH JDDQ HQ GUXN YHUYROJHQV RS 0(18 781( 8 NXQW DDQPHOGHQ GRRU GH 0 0(18 781( GUXNNQRS GUDDLNQRS WH JHEUXLಢ NHQ QDDU LWHP VHOHFWHUHQ WH JDDQ QDDU LWHP ZLVVHQ WH JDDQ RP WH ZLVಢ VHQ HQ YHUYROJHQV RS 0 0(18 781( WH GUXNNHQ *HEUXLN GH 0 0(18 781( GUXN GUDDLಢ NQRS RP YDQXLW KHW DDQJHPHOGH %OXHWRRWK DSSDUDDW QDDU KHW WH NRSಢ SHOHQ DSSDUDDW WH
,QIRWDLQPHQWV\VWHHP :DQQHHU HU HHQ SUREOHHP RSWUHHGW QDGDW KHW %OXHWRRWK DSSDUDDW LV JHಢ NRSSHOG JHEUXLN GDQ GH 0 0(18 781( GUXNNQRS GUDDLNQRS RP 6\VWHHPLQVWHOOLQJ ඎ %OXHWRRWK LQಢ VWHOOLQJHQ ඎ )DEULHNVLQVWHOOLQJHQ KHUVWHOOHQ XLW WH YRHUHQ ,QLWLDOLVHHU KHW DSSDUDDW PHW KHW SUREOHHP YHURRU]DDNW GRRU HHQ IRXW RSJHWUHಢ GHQ WLMGHQV KHW NRSSHOHQ YDQ KHW %OXHWRRWK DSSDUDDW DDQ KHW LQIRಢ WDLQPHQWV\VWHHP 6RPV NDQ %OXHWRRWK DOOHHQ ZRUGHQ JHNRSSHOG YLD GH KDQGHQYULM EHOOHQ IXQFWLH RI GH %OXHWRRWK DXGLRDIಢ VS
,QIRWDLQPHQWV\VWHHP 2P %OXHWRRWK DXGLR WH NXQQHQ DIಢ VSHOHQ PRHW GH PX]LHN PLQVWHQV HHQPDDO ]LMQ DIJHVSHHOG YDQDI GH PX]LHNVSHHOIXQFWLH YDQ GH PRELHOH WHOHIRRQ RI YDQDI KHW %OXHWRRWK DSಢ SDUDDW QDGDW GLW DOV VWHUHR KHDGVHW LV JHNRSSHOG 1D PLQVWHQV HHQಢ PDDO WH ]LMQ DIJHVSHHOG ]DO GH PXಢ ]LHNVSHOHU DXWRPDWLVFK DIVSHOHQ DOV GH]H LQ GH DISHHOPRGXV NRPW HQ ]DO KLM DXWRPDWLVFK VWRSSHQ ]Rಢ GUD GH PX]LHNDIVSHHOPRGXV ZRUGW EHÜLQGLJG $OV GH PRELHOH WHOHIRRQ RI KHW %OXHWRRWK DSSDUDDW ]LFK QLHW LQ GH ZDFK
,QIRWDLQPHQWV\VWHHP &RQWUROHHU RI HU DQGHUH JHNRSSHOGH %OXHWRRWK DSSDUDWHQ ]LMQ 2P HHQ DQGHU DSSDUDDW WH NRSSHOHQ RQWಢ NRSSHOW X HHUVW HYHQWXHOH RYHULJH JHNRSSHOGH DSSDUDWXXU HQ NRSSHOW X YHUYROJHQV RSQLHXZ $SSDUDWHQOLMVW LV YRO &RQWUROHHU RI HU PLQGHU GDQ DDQಢ JHPHOGH DSSDUDWHQ ]LMQ (U NXQQHQ QLHW PHHU GDQ DSSDUDWHQ ]LMQ DDQಢ JHPHOG *HHQ FRQWDFWHQOLMVW EHVFKLNEDDU 'LW EHULFKW YHUVFKLMQW DOV GH PRELHOH WHOHIRRQ KHW RYHUEUHQJHQ YDQ FRQಢ WDFWSHUVRQHQ QLHW RQGHUVWHXQW $OV GLW EHULFKW QD HHQ DDQWDO
,QIRWDLQPHQWV\VWHHP 2P GDQ HHQ WHOHIRRQJHVSUHN WH YRHಢ UHQ GUXNW X RS GH VWXXUZLHOEHGLHQLQJ RS GH NQRS 2SURHS RI X GUDDLW 0 0(18 781( QDDU GH IXQFWLH %HDQWZRRUGHQ GUXN 0 0(18 781( YHUYROJHQV LQ 2P GH RSURHS WH QHJHUHQ GUXNW X RS GH NQRS 6 6WLOVFKDNHOHQ 2SKDQJHQ RS GH VWXXUZLHOEHGLHಢ QLQJ RI X GUXNW RS 0 0(18 781( HQ VHOHFWHHUW :HLJHUHQ 7LMGHQV KHW WHOHIRRQJHVSUHN NXQW X GH GRRUJLIWH YDQ JHOXLG EORNNHUHQ GRRU DDQ 0 0(18 781( WH GUDDLHQ HQ KHW LWHP 0LFURIRRQ VWLOVFKDNHOHQ WH VHOHFWHUHQ +
,QIRWDLQPHQWV\VWHHP 7LMGHQV HHQ WHOHIRRQJHVSUHN YDQ GULH RI PHHU SHUVRQHQ NDQ GH ZHHUಢ JHJHYHQ LQKRXG DIZLMNHQ YDQ GH SUDNWLVFKH LQIRUPDWLH PLVWH RSURHSHQ GXV QLHW YLD GH WHಢ UXJEHOIXQFWLH 'LW KDQJW DI YDQ GH RSWLHV YDQ GH PRELHOH WHOHIRRQ %HOOHQ YLD 7HUXJEHOOHQ 'UXN RS GH VWXXUZLHOEHGLHQLQJ RS GH NQRS 2SURHS RP KHW EHJHOHLGHQG YHQVWHU YRRU WHUXJEHOOHQ ZHHU WH JHಢ YHQ RI KRXG GH NQRS LQJHGUXNW RP KHW ORJERHNVFKHUP YRRU EHOOHUV ZHHU WH JHYHQ 'UDDL DDQ 0 0(18 781( RP -D RI FRQWDFWSHUVRQHQ WH
,QIRWDLQPHQWV\VWHHP ဈ 9HUSODDWVHQ YHUSODDWVHQ YDQ GH LQYRHUSRVLWLH ဈ :LVVHQ KHW LQJHYRHUGH WHNHQ ZLVVHQ ဈ &RQWDFWHQOLMVW ]RHNHQ QDDU FRQಢ WDFWSHUVRQHQ WH JHEUXLNHQ QDGDW GH WHOHIRRQQXPPHUV ]LMQ ELMJHಢ ZHUNW ဈ %HOOHQ EHJLQ PHW EHOOHQ %HOOHQ YLD LQYRHUHQ YDQ QXPPHU 2P WH EHOOHQ GRRU HHQ WHOHIRRQQXPಢ PHU LQ WH YRHUHQ GUXNW X RS 0 0(18 781( HQ GUDDLW X GH]H NQRS RP 1XPಢ PHU LQYRHUHQ WH VHOHFWHUHQ GUXN YHUಢ YROJHQV 0 0(18 781( LQ 'UDDL 0 0(18 781( RP GH JHZHQVWH OHWWHUV WH VHOHFWHUHQ HQ GUXN YHU
,QIRWDLQPHQWV\VWHHP 2P HHQ RSURHS WH EHÜLQGLJHQ GUDDLW X DDQ 0 0(18 781( RP RSURHS EHಢ HLQGLJHQ WH VHOHFWHUHQ GUXN YHUYROಢ JHQV 0 0(18 781( LQ +HW WHOHIRRQPHQX JHEUXLNHQ 7HOHIRRQPHQX ඎ &RQWDFWHQOLMVW ඎ =RHNHQ $OV HU JHHQ FRQWDFWSHUVRQHQ ]LMQ YHUಢ VFKLMQW HHQ NHQQLVJHYLQJ RS KHW VFKHUP HQ JDDW X WHUXJ QDDU KHW YRRUಢ JDDQGH PHQX 'UDDL 0 0(18 781( RP =RHNHQ WH VHಢ OHFWHUHQ HQ GUXN YHUYROJHQV 0 0(18 781( LQ 'UDDL 0 0(18 781( RP (HUVWH RI /DDWVWH QDDP WH VHOHFWHUHQ HQ GUXN YHUYROJHQV 0 0(18 781( L
,QIRWDLQPHQWV\VWHHP 7HOHIRRQPHQX ඎ &RQWDFWHQOLMVW ඎ %LMZHUNHQ :DQQHHU X KHW UHOHYDQWH QXPPHU ZLOW EHOOHQ GUXNW X RS 0 0(18 781( 5DDGSOHHJ YRRU QDGHUH DDQZLM]LQJHQ GH LQIRUPDWLH RYHU KHW GRHQ YDQ WHOHಢ IRQLVFKH RSURHSHQ 8SGDWH GH FRQWDFWSHUVRQHQ YDQ GH DDQJHVORWHQ PRELHOH WHOHIRRQ QDDU GH FRQWDFWHQOLMVW YDQ KHW V\VWHHP 'UXN RS RI GUDDL DDQ 0 0(18 781( VHOHFWHHU 7HOHIRRQPHQX ඎ &RQWDFಢ WHQOLMVW ඎ %LMZHUNHQ HQ GUXN YHUYROಢ JHQV 0 0(18 781( LQ 'UDDL 0 0(18 781( RP -D RI 1HH WH VHOHFWHUHQ HQ GUXN YHU
,QIRWDLQPHQWV\VWHHP %LMZHUNHQ ZRUGW RQGHUVWHXQG WRW PD[LPDDO WHOHIRRQQXPPHUV YDQ FRQWDFWSHUVRQHQ 'HQN HUDDQ GDW KDQGHQYULM WHOHIRಢ QHUHQ HQ DXGLR DIVSHOHQ YLD %OXHಢ WRRWK ZRUGW RQGHUEURNHQ WLMGHQV KHW ELMZHUNHQ YDQ FRQWDFWSHUVRQHQ DQGHUH IXQFWLHV GDQ KDQGHQYULM WHಢ OHIRQHUHQ HQ DXGLR DIVSHOHQ YLD %OXHWRRWK NXQQHQ ZHO ZRUGHQ JHಢ EUXLNW %LM KHW ELMZHUNHQ YDQ XZ FRQWDFWಢ SHUVRQHQ LV KHW PRJHOLMN RP GH RYHUGUDFKWFHUWLILFDWLH YRRU FRQWDFWಢ SHUVRQHQ RS WH YUDJHQ :DQQHHU RS KHW ZDFKWHQGH VFKHUP ODQJ
,QIRWDLQPHQWV\VWHHP %LM VHOHFWLH YDQ FRQWDFWSHUVRQHQ ]XOOHQ QLHW DOWLMG DOOH OLMVWHQ YDQ GH WHOHIRRQ RRN ZRUGHQ ZHHUJHJHYHQ +HW LQIRWDLQPHQWV\VWHHP JHHIW DOಢ OHHQ ZHHU ZDW YDQDI GH PRELHOH WHಢ OHIRRQ LV RYHUJHGUDJHQ 'H ELMZHUNIXQFWLH YRRU FRQWDFWSHUಢ VRQHQ NDQ SHU FRQWDFWYHUPHOGLQJ VOHFKWV YLHU QXPPHUV 0RELHOH WHಢ OHIRRQ .
,QIRWDLQPHQWV\VWHHP 'UXN RS RI GUDDL DDQ 0 0(18 781( RP GH JHGHWDLOOHHUGH RSURHSJHVFKLHಢ GHQLV WH VHOHFWHUHQ HQ GUXN YHUYROಢ JHQV 0 0(18 781( LQ 'UDDL 0 0(18 781( RP GH RSURHSJHಢ VFKLHGHQLV WH FRQWUROHUHQ HQ HHQ FRQಢ WDFWSHUVRRQ WH EHOOHQ 'UXN RS 0 0(18 781( RP LQ GH RSಢ URHSJHVFKLHGHQLV KHW JHVHOHFWHHUGH QXPPHU WH EHOOHQ :DQQHHU KHW VFKHUP (YHQ ZDFKಢ WHQ D X E WH ODQJ ZHHUJHJHYHQ EOLMIW QD VHOHFWLH YDQ KHW RSURHSHQORJಢ ERHN FRQWUROHHU GDQ RI GH PRELHOH WHOHIRRQ YUDDJW RP YHULILFDWLH YDQ GH RYHUGU
,QIRWDLQPHQWV\VWHHP KHW YROXPH ]RDOV RYHUJHGUDJHQ YDQDI GH PRELHOH WHOHIRRQ 3DV KHW ULQJWRQHYROXPH YDQ GH PRELHOH WHಢ OHIRRQ DDQ DOV GLW YROXPH WH ODDJ LV 9RRU KHW LQVWHOOHQ YDQ GH ULQJWRQH HQ KHW YROXPH HUYDQ ]RDOV JHEUXLNW GRRU GH %OXHWRRWK IXQFWLH GUXNW RI GUDDLW X 0 0(18 781( RP *HOXLG 6LJQDDO WH VHOHFWHUHQ VWHO YHUYROJHQV GH JHಢ ZHQVWH LWHPV LQ PHW GH GUXN GUDDLಢ NQRS $OV X GH %OXHWRRWK LQVWHOOLQJHQ ZHHU ZLOW LQLWLDOLVHUHQ YROJHQV KXQ VWDQಢ GDDUGZDDUGHQ GUXNW GUDDLW X 0 0(18 781( RP KHW
.OLPDDWUHJHOLQJ .OLPDDWUHJHOLQJ .OLPDDWUHJHOV\VWHPHQ /XFKWURRVWHUV 2QGHUKRXG .
.OLPDDWUHJHOLQJ ) GH OXFKWVWURRP LV YRRUDO QDDU GH YORHU JHULFKW HQ QDDU GH YRRUUXLW HHQ JHULQJH KRHYHHOKHLG OXFKW VWURRPW XLW YLD GH ]LMXLWVWURRPRSHQLQJHQ 5 GH OXFKWVWURRP LV YRRUDO QDDU GH YRRUUXLW JHULFKW HHQ JHULQJH KRHYHHOಢ KHLG OXFKW VWURRPW XLW YLD GH ]LMXLWಢ VWURRPRSHQLQJHQ 'H YRRUUXLW RQWYULH]HQ 9HUZDUPLQJ 1RUPDDO YHUZDUPHQ 'UDDL GH WHPSHUDWXXUUHJHONQRS QDDU KHW URGH JHELHG RP WH YHUಢ ZDUPHQ 'UDDL GH OXFKWFLUFXODWLHNQRS =HW GH DDQMDJHUNQRS RS GH JHಢ ZHQVWH VQHOKHLG 0D[LPD
.OLPDDWUHJHOLQJ 9RRU]LFKWLJ +HW WHPSHUDWXXUYHUVFKLO WXVVHQ GH EXLWHQOXFKW HQ GH YRRUUXLW NDQ YHUಢ RRU]DNHQ GDW GH YRRUUXLW EHVODDW ZDDUGRRU XZ ]LFKW ZRUGW EHOHPಢ PHUG *HEUXLN GH VWDQGHQ )/225 '(ಢ )5267 ) RI '()5267 5 QLHW ELM HHQ H[WUHHP KRJH OXFKWYRFKWLJಢ KHLG DOV GH WHPSHUDWXXUUHJHONQRS LQ KHW EODXZH JHGHHOWH VWDDW 'LW NDQ OHLGHQ WRW YHUPLQGHUG ]LFKW ZDDUGRRU GH NDQV RS RQJHYDOOHQ JURWHU ZRUGW HQ SHUVRRQOLMN OHWVHO HQ VFKDGH DDQ GH DXWR NDQ RQWಢ VWDDQ /XFKWUHFLUFXODWLHV\VWHHP $OV KHW OXFKWUHF
.OLPDDWUHJHOLQJ $LUFRQGLWLRQLQJ :DDUVFKXZLQJ 1LHW LQ HHQ DXWR VODSHQ PHW LQJHಢ VFKDNHOGH DLUFR RI YHUZDUPLQJ 'LW NDQ GRRU KHW DIQHPHQ YDQ KHW ]XXUVWRIJHKDOWH HQ RI KHW GDOHQ YDQ GH OLFKDDPVWHPSHUDWXXU HUQಢ VWLJ OHWVHO HQ ]HOIV GH GRRG WRW JHಢ YROJ KHEEHQ /XFKWYHUGHOLQJ 2QWZDVHPHQ HQ RQWGRRLHQ /XFKWUHFLUFXODWLH .
.OLPDDWUHJHOLQJ 'H YRRUUXLW RQWZDVHPHQ /XFKWUHFLUFXODWLHV\VWHHP $OV KHW OXFKWUHFLUFXODWLHV\VWHHP LV LQJHVFKDNHOG YHUPLQGHUW GH OXFKWಢ YHUYHUVLQJ %LM KHW JHEUXLN ]RQGHU NRHOLQJ QHHPW GH OXFKWYRFKWLJKHLG WRH ZDDUGRRU GH UXLWHQ NXQQHQ EHಢ VODDQ 'H NZDOLWHLW YDQ GH ELQQHQಢ OXFKW QHHPW QD YHUORRS YDQ WLMG DI ZDW WRW YHUPRHLGKHLGVYHUVFKLMQVHಢ OHQ ELM GH LQ]LWWHQGHQ NDQ OHLGHQ .
.OLPDDWUHJHOLQJ 2RN DOV GH DLUFRQGLWLRQLQJ LV DDQJHಢ ]HW ]DO GH DXWR ZDUPH OXFKW SURGXಢ FHUHQ DOV GH WHPSHUDWXXUNQRS LV LQಢ JHVWHOG LQ GH URGH ]RQH 2P KHW DLUFRQGLWLRQLQJV\VWHHP XLW WH VFKDNHOHQ GUDDLW X GH YHQWLODWRUNQRS RS 'UDDL GH OXFKWFLUFXODWLHNQRS =HW GH DDQMDJHUNQRS RS GH JHಢ ZHQVWH VQHOKHLG 0D[LPDOH NRHOLQJ 9RRU]LFKWLJ *HEUXLN XLWVOXLWHQG KHW MXLVWH NRXಢ GHPLGGHO :DDUVFKXZLQJ .
.OLPDDWUHJHOLQJ /XFKWURRVWHUV 9DVWH OXFKWURRVWHUV (U EHYLQGHQ ]LFK ERYHQGLHQ QRJ OXFKWURRVWHUV RQGHU GH YRRUUXLW HQ GH YRRUSRUWLHUUXLWHQ DOVRRN LQ GH YRHಢ WHQUXLPWH 9HUVWHOEDUH OXFKWURRVWHUV %LM LQJHVFKDNHOGH NRHOLQJ PRHW HU PLಢ QLPDDO ÚÚQ OXFKWURRVWHU JHRSHQG ]LMQ RP WH YRRUNRPHQ GDW GH YHUGDPSHU GRRU JHEUHN DDQ OXFKWFLUFXODWLH EHಢ YULHVW 'UDDL GH NQRS OLQNVRP RP GH ]LMXLWಢ VWURRPRSHQLQJHQ WH RSHQHQ HQ GUDDL GH]H LQ GH JHZHQVWH ULFKWLQJ $OV X JHHQ OXFKWVWURPLQJ ZLOW GUDDLW X GH NQRS UHFKWVRP :
.OLPDDWUHJHOLQJ 2QGHUKRXG 3ROOHQILOWHU /XFKWLQODDW /XFKWILOWHU YDQ GH SDVVDJLHUVUXLPWH +HW ILOWHU RQWGRHW GH ELQQHQNRPHQGH EXLWHQOXFKW YDQ VWRI URHW HQ VSRUHQ 'H OXFKWLQODDW QDDU GH PRWRUUXLPWH RQGHU DDQ GH YRRUNDQW YDQ GH YRRUUXLW PRHW YRRU YROGRHQGH OXFKWWRHYRHU YULMJHKRXGHQ ZRUGHQ %ODGHUHQ YXLO RI VQHHXZ YHUZLMGHUHQ )LOWHU YHUYDQJHQ 9HUZLMGHU KHW GDVKERDUGNDVWMH 2SHQ KHW KDQGVFKRHQHQNDVWMH HQ WUHN HUDDQ RP GLW WH YHUZLMGHUHQ 9HUZLMGHU KHW ILOWHUGHNVHO GRRU EHLGH ]LMGHQ YDQ KHW G
.OLPDDWUHJHOLQJ 9RRU]LFKWLJ :DQQHHU YHHO RS VWRIILJH HQ RS RQYHUKDUGH ZHJHQ HQ LQ JHELHGHQ PHW ]ZDUH OXFKWYHUYXLOLQJ ZRUGW JHUHGHQ PRHW KHW OXFKWILOWHU YDNHU ZRUGHQ YHUYDQJHQ +HW ILOWHU ZHUNW PLQGHU HIILFLÜQW HQ GH DGHPKDOLQJ ZRUGW VWHUN JHWURIಢ IHQ $LUFRQGLWLRQLQJ UHJHOPDWLJ DDQ]HWWHQ 2P WH ]RUJHQ GDW KHW V\VWHHP JRHG EOLMIW ZHUNHQ PRHW GH NRHOLQJ HHQಢ PDDO SHU PDDQG RQJHDFKW GH ZHHUVಢ JHVWHOGKHLG RI KHW VHL]RHQ HQNHOH PLಢ QXWHQ ZRUGHQ LQJHVFKDNHOG %LM ODJH EXLWHQWHPSHUDWXUHQ NDQ GH NRHOLQJ QLHW ZR
5LMGHQ HQ EHGLHQLQJ 5LMGHQ HQ EHGLHQLQJ 5LMWLSV 6WDUWHQ HQ EHGLHQLQJ 8LWODDWJDVVHQ $XWRPDWLVFKH YHUVQHOOLQJVEDN +DQGJHVFKDNHOGH YHUVQHOOLQJVEDN 5HPPHQ 5LMUHJHOV\VWHPHQ &UXLVH FRQWURO 2EVWDNHOGHWHFWLHV\VWHPHQ %UDQGVWRI
5LMGHQ HQ EHGLHQLQJ &RQWDFWVORWVWDQGHQ *HYDDU =HW KHW FRQWDFW WLMGHQV KHW ULMGHQ QLHW LQ GH VWDQG RI 9RHUWXLJRQGHUVWHXQHQGH IXQFWLHV HQ UHPEHNUDFKWLJLQJ ZHUNHQ GDQ QLHW ZDW VFKDGH DDQ KHW YRHUWXLJ SHUVRRQOLMN RI IDWDDO OHWVHO NDQ YHUಢ RRU]DNHQ 0RWRU VWDUWHQ 0RWRU VWDUWHQ PHW FRQWDFWVORW 9RRU]LFKWLJ 9(5*5(1'(/(1 $&& $$1 67$57 &RQWDFW XLW &RQWDFW XLW VWXXUಢ VORW RSJHಢ KHYHQ &RQWDFW DDQ YRRUಢ YHUZDUಢ PLQJ YRRU GLHVHOPRಢ WRU 6WDUWHQ /DDW KHW FRQWDFW ELM VWLOVWDDQGH PRWRU QLH
5LMGHQ HQ EHGLHQLQJ 'UDDL GH VOHXWHO LQ VWDQG WHUZLMO X KHW NRSSHOLQJVSHGDDO HQ KHW UHPಢ SHGDDO LQWUDSW HQ YHUYROJHQV ORVODDW DOV GH PRWRU GUDDLW 2P GH PRWRU RSQLHXZ WH VWDUWHQ RI GH]H DI WH ]HWWHQ VOHXWHO LQ KHW FRQಢ WDFWVORW HHUVW WHUXJGUDDLHQ QDDU VWDQG 'H PRWRU VWDUW DXWRPDWLVFK RSQLHXZ ELM KHW LQWUDSSHQ YDQ KHW NRSSHOLQJVಢ SHGDDO $FWLYHULQJ +HW 6WRS 6WDUW V\VWHHP VFKDNHOW LQ ]RGUD KHW FRQWDFW ZRUGW DDQJH]HW 'HDFWLYHULQJ 0RWRU DXWRPDWLVFK VWRSSHQ $OV GH DXWR ODQJ]DDP ULMGW RI VWL
5LMGHQ HQ EHGLHQLQJ 'H DLUFRQGLWLRQLQJ NDQ KHW VWRS HQ VWDUWV\VWHHP DIKDQNHOLMN YDQ KHW NRHOಢ YHUPRJHQ ZHO RI QLHW KLQGHUHQ 9RRUZDDUGHQ YRRU KHW DXWRPDWLVFK VWRSSHQ YDQ GH PRWRU +HW VWRS VWDUWV\VWHHP LV QLHW PDಢ QXHHO XLWJHVFKDNHOG 'H PRWRUNDS LV YROOHGLJ JHVORWHQ +HW EHVWXXUGHUVSRUWLHU LV JHVORWHQ RI GH YHLOLJKHLGVJRUGHO YDQ GH EHಢ VWXXUGHU LV YDVWJHPDDNW 'H DFFX LV YROGRHQGH JHODGHQ HQ LQ JRHGH VWDDW 'H PRWRU LV RSJHZDUPG 'H PRWRUNRHOYORHLVWRIWHPSHUDWXXU LV QLHW WH ODDJ 'H RPJHYLQJVWHPSHUD
5LMGHQ HQ EHGLHQLQJ :DQQHHU GH DXWR YODN RI RS HHQ RSಢ ORSHQGH KHOOLQJ VWDDW GDQ YRRU KHW XLWVFKDNHOHQ YDQ KHW FRQWDFW GH HHUVWH YHUVQHOOLQJ LQVFKDNHOHQ 2S HHQ RSORSHQGH KHOOLQJ ERYHQGLHQ GH YRRUZLHOHQ YDQ GH VWRHSUDQG ZHJGUDDLHQ :DQQHHU GH DXWR RS HHQ DIORSHQGH KHOOLQJ VWDDW GDQ YRRU KHW XLWVFKDಢ NHOHQ YDQ KHW FRQWDFW GH DFKWHUXLWಢ YHUVQHOOLQJ LQVFKDNHOHQ %RYHQಢ GLHQ GH YRRUZLHOHQ QDDU GH VWRHSಢ UDQG WRHGUDDLHQ 5XLWHQ VOXLWHQ 9HUJUHQGHO GH DXWR HQ DFWLYHHU KHW DODUPV\VWHHP 8LWODDWJDVVH
5LMGHQ HQ EHGLHQLQJ &RQWUROHODPS GRRIW ]RGUD GH ]HOIಢ UHLQLJLQJ LV DIJHURQG 9RRU]LFKWLJ :RUGW KHW UHLQLJLQJVSURFHV UHJHಢ QHUHUHQ YDNHU GDQ HHQ NHHU RQಢ GHUEURNHQ GDQ EHVWDDW KHW JURWH ULVLFR GDW HU ]ZDUH PRWRUVFKDGH RQWVWDDW .
5LMGHQ HQ EHGLHQLQJ $XWRPDWLVFKH YHUVQHOOLQJVEDN 0HW GH DXWRPDWLVFKH YHUVQHOOLQJVEDN NXQW X ]RZHO KDQGPDWLJ KDQGJHಢ VFKDNHOGH PRGXV DOV DXWRPDWLVFK VFKDNHOHQ DXWRPDWLVFKH PRGXV 'H DXWRPDWLVFKH YHUVQHOOLQJVEDN LV HHQ HOHNWURQLVFK JHUHJHOGH ]HVYHUಢ VQHOOLQJVEDN 'H ]HVGH YHUVQHOOLQJ LV HHQ RYHUಢ GULYH =HW GH KDQGUHP ORV HQ KDDO GH YRHW YDQ KHW UHPSHGDDO 7UDS KHW JDVSHGDDO ODQJ]DDP LQ RP ZHJ WH ULMGHQ 9HUVQHOOLQJVEDNGLVSOD\ $XWR VWDUWHQ 1D KHW RSZDUPHQ YDQ GH PRWRU KRXGW X KHW UHPSHGD
5LMGHQ HQ EHGLHQLQJ 0 GH VWDQG YRRU GH KDQGJHVFKDಢ NHOGH PRGXV 7XVVHQ YHUVQHOOLQJHQ VFKDNHOHQ 9RRU]LFKWLJ 7LMGHQV KHW VFKDNHOHQ JHHQ JDV JHYHQ *DV HQ UHPSHGDDO QRRLW JHOLMNWLMಢ GLJ EHGLHQHQ :DQQHHU HHQ YHUVQHOOLQJ LV LQJHಢ VFKDNHOG HQ GH UHP ZRUGW ORVJHಢ ODWHQ ULMGW GH DXWR ODQJ]DDP ZHJ *HEUXLN GH VWDQG 3 SDUNHUHQ QLHW WHU YHUYDQJLQJ YDQ GH KDQGUHP =HW GH PRWRU DI WUHN GH KDQGUHP DDQ HQ YHUZLMGHU GH FRQWDFWVOHXಢ WHO ZDQQHHU X KHW YRHUWXLJ YHUODDW /DDW KHW YRHUWXLJ QRRLW ]RQGHU WRHಢ ]LFKW
5LMGHQ HQ EHGLHQLQJ 7UDS KHW UHPSHGDDO LQ HQ GUXN RS GH RQWJUHQGHONQRS RP WH VFKDNHOHQ 6FKDNHOEHZHJLQJHQ ZDDUELM X GH RQWಢ JUHQGHONQRS PRHW LQGUXNNHQ ]LMQ PHW SLMOHQ DDQJHGXLG 6FKDNHO YULMHOLMN +DQGJHVFKDNHOGH PRGXV =HW GH NHX]HKHQGHO LQ GH VWDQG 0 'UXN GH RQWJUHQGHONQRS DDQ GH ]LMಢ NDQW YDQ GH NHX]HKHQGHO LQ 20+22* QDDU HHQ KRJHUH YHUಢ VQHOOLQJ VFKDNHOHQ 20/$$* QDDU HHQ ODJHUH YHUಢ VQHOOLQJ VFKDNHOHQ 2P GH YHUHLVWH QLYHDXV YRRU YRHUಢ WXLJSUHVWDWLH HQ YHLOLJKHLG WH KDQGKDಢ YHQ PDJ
5LMGHQ HQ EHGLHQLQJ 0RWRU QLHW WH KRJH WRHUHQ ODWHQ PDNHQ HQ VQHO RSWUHNNHQ YRRUNRPHQ 3DUNHUHQ 6FKDNHO QD VWLO]HWWHQ YDQ GH DXWR PHW KHW UHPSHGDDO GH VWDQG 3 LQ WUHN GH KDQGUHPKHQGHO VWHYLJ RPKRRJ HQ YHUZLMGHU GH FRQWDFWVOHXWHO .
5LMGHQ HQ EHGLHQLQJ 6WHHN GH FRQWDFWVOHXWHO LQ GH VOHXI HQ GUXN GH]H DDQ 1DDU GH QHXWUDDOVWDQG 1 VFKDಢ NHOHQ 1HHP GH VOHXWHO XLW GH VOHXI %UHQJ GH NDS ZHHU DDQ /DDW XZ DXWR ]R VSRHGLJ PRJHOLMN UHSDUHUHQ :DDUVFKXZLQJ /HW RS GH YROJHQGH YRRU]RUJVಢ PDDWUHJHOHQ RP EHVFKDGLJLQJHQ DDQ GH WUDQVPLVVLH WH YRRUNRPHQ 7UDS KHW JDVSHGDDO QLHW LQ ELM KHW VFKDNHOHQ YDQ 3 RI 1 QDDU 5 RI QDDU HHQ YRRUXLWYHUVQHOOLQJ 'RHW X GLW ZHO GDQ LV KHW PRJHOLMN GDW QLHW DOOHHQ GH WUDQVPLVVLH ZRUGW EHV
5LMGHQ HQ EHGLHQLQJ 'H NRSSHOLQJ QLHW RQQRGLJ ODWHQ VOLSಢ SHQ %LM EHGLHQLQJ KHW NRSSHOLQJVSHಢ GDDO KHOHPDDO LQWUDSSHQ 8Z YRHW QLHW RS KHW SHGDDO ODWHQ UXVWHQ 9RRU]LFKWLJ 5LMG ELM YRRUNHXU QLHW PHW GH KDQG YRRUWGXUHQG RS GH VHOHFWRUKHQGHO 5HPPHQ +HW UHPV\VWHHP RPYDW WZHH RQDIಢ KDQNHOLMNH UHPFLUFXLWV :DQQHHU HHQ UHPFLUFXLW XLWYDOW NDQ GH DXWR QRJ PHW KHW DQGHUH FLUFXLW ZRUGHQ DIJHUHPG 'H UHPYHUWUDJLQJ ZRUGW HFKWHU DOOHHQ EHUHLNW ZDQQHHU X KHW UHPSHGDDO VWHYLJ LQWUDSW +LHUಢ YRRU LV DDQ]LHQOLMN PHHU N
5LMGHQ HQ EHGLHQLQJ :DDUVFKXZLQJ 1DGDW X GRRU GLHS ZDWHU KHEW JHಢ UHGHQ GH DXWR KHEW JHZDVVHQ RI GH UHPPHQ WLMGHQV KHW KHXYHODI ULMಢ GHQ YHHO KHEW JHEUXLNW NXQQHQ GH UHPPHQ WLMGHOLMN PLQGHU JRHG ZHUಢ NHQ 'LW NDQ KHW JHYROJ ]LMQ YDQ QDWWH UHPRQGHUGHOHQ RI RYHUYHUಢ KLWWLQJ $OV GH UHPPHQ WLMGHOLMN QLHW ZHUNHQ GRRU RYHUYHUKLWWLQJ 6FKDNHO ELM KHW KHXYHODI ULMGHQ RYHU RS HHQ ODJHUH YHUVQHOOLQJ 7UDS KHW UHPSHGDDO QLHW FRQWLQX LQ $OV GH UHPZHUNLQJ LV WHUXJJHORSHQ RPGDW GH RQGHUGHOHQ YDQ KHW UHPಢ V\VW
5LMGHQ HQ EHGLHQLQJ +DQGUHP 5HPDVVLVWHQWLH %LM KHW VQHO HQ NUDFKWLJ LQWUDSSHQ YDQ KHW UHPSHGDDO ZRUGW DXWRPDWLVFK PHW GH PD[LPDOH UHPNUDFKW QRRGVWRS JHUHPG 'H GUXN RS KHW UHPSHGDDO QLHW YHUಢ PLQGHUHQ ]RODQJ HU PD[LPDDO JHಢ UHPG PRHW ZRUGHQ %LM KHW ORVODWHQ YDQ KHW UHPSHGDDO ZRUGW GH UHPಢ NUDFKW DXWRPDWLVFK YHUPLQGHUG +DQGUHP DOWLMG ]RQGHU LQGUXNNHQ YDQ GH RQWJUHQGHOLQJVNQRS VWHYLJ DDQಢ WUHNNHQ RS RS RI DIORSHQGH KHOOLQJHQ DOWLMG ]R VWHYLJ PRJHOLMN 2P GH KDQGUHP ORV WH ]HWWHQ GH KDQGUHPKHQGHO LHW
5LMGHQ HQ EHGLHQLQJ 'HDFWLYHULQJ 7&6 NDQ ZRUGHQ XLWJHVFKDNHOG ZDQಢ QHHU GRRUVODDQ YDQ GH DDQJHGUHYHQ ZLHOHQ MXLVW YHUHLVW LV 7RHWV D LQGUXNಢ NHQ 'H FRQWUROHODPS N JDDW EUDQGHQ 7&6 ZRUGW RSQLHXZ LQJHVFKDNHOG GRRU QRJPDDOV RS D WH GUXNNHQ 7&6 ZRUGW RRN RSQLHXZ JHDFWLYHHUG ZDQQHHU X KHW FRQWDFW GH YROJHQGH NHHU ZHHU DDQ]HW &RQWUROHODPS YRRU XLWVFKDNHOLQJ YDQ 7UDFWLRQ &RQWURO 7& (OHNWURQLVFK VWDELOLWHLWVSURJUDPPD 'H HOHNWURQLVFKH VWDELOLWHLWVUHJHOLQJ (6& KHOSW RP GH DXWR WH VWDELOLVHUHQ W
5LMGHQ HQ EHGLHQLQJ +RXG GH WRHWV D HQNHOH VHFRQGHQ LQಢ JHGUXNW WRWGDW GH FRQWUROHODPS D JDDW EUDQGHQ 8 NXQW GH (6& ZHHU DFWLYHUHQ GRRU QRJPDDOV RS GH WRHWV D WH GUXNNHQ 'H (6& ZRUGW RRN RSQLHXZ JHDFWLಢ YHHUG ZDQQHHU X KHW FRQWDFW GH YROಢ JHQGH NHHU ZHHU LQVFKDNHOW &UXLVH FRQWURO :DDUVFKXZLQJ +HW JHEUXLN YDQ FUXLVH FRQWURO NDQ JHYDDUOLMN ]LMQ ZDQQHHU X QLHW YHLOLJ NXQW ULMGHQ RS FRQVWDQWH VQHOKHLG *HEUXLN FUXLVH FRQWURO QLHW RS ERFKWLJH ZHJHQ RI LQ GUXN YHUNHHU &UXLVH FRQWURO LQVWHOOHQ :DDUVFKX
5LMGHQ HQ EHGLHQLQJ 'H LQJHVWHOGH ULMVQHOKHLG YHUODJHQ 'UDDL KHW VWHOZLHO QDDU 6(7 HQ KRXG YDVW 8Z DXWR YHUODDJW GH ULMಢ VQHOKHLG /DDW KHW VWHOZLHO ORV ELM GH JHZHQVWH ULMVQHOKHLG 'UDDL KHW VWHOZLHO QDDU 6(7 HQ ODDW PHWHHQ ORV 'H ULMVQHOKHLG ]DO DIQHPHQ PHW a NP X 'H ULMVQHOKHLG WLMGHOLMN YHUKRJHQ $OV X WLMGHOLMN VQHOOHU ZLOW ULMGHQ WHUZLMO FUXLVH FRQWURO DDQ LV WUDSW X KHW JDVಢ SHGDDO LQ 'H YHUKRJLQJ YDQ GH ULMಢ VQHOKHLG YHUVWRRUW GH ZHUNLQJ YDQ FUXLVH FRQWURO QLHW HQ ZLM]LJW GH LQJH
5LMGHQ HQ EHGLHQLQJ 'H LQJHVWHOGH VQHOKHLG ZRUGW ZHHUJHJHYHQ LQ GH LQVWUXPHQWHQಢ JURHS 'H LQJHVWHOGH ULMVQHOKHLG YHUKRJHQ 'UDDL KHW VWHOZLHO QDDU 5(6 HQ KRXG YDVW 8Z LQJHVWHOGH VQHOKHLG ZRUGW YHUKRRJG /DDW KHW VWHOZLHO ORV ELM GH JHZHQVWH ULMVQHOKHLG 'UDDL KHW VWHOZLHO QDDU 5(6 HQ ODDW PHWHHQ ORV 'H LQJHVWHOGH VQHOKHLG ]DO WRHQHPHQ PHW a NP X 'H LQJHVWHOGH ULMVQHOKHLG YHUODJHQ 'UDDL KHW VWHOZLHO QDDU 6(7 HQ KRXG YDVW 8Z LQJHVWHOGH VQHOKHLG ZRUGW YHUODDJG /DDW KHW VWHOZLHO ORV ELM G
5LMGHQ HQ EHGLHQLQJ 2EVWDNHOGHWHFWLHV\VWHಢ PHQ 3DUNHHUKXOS 3DUN SLORW PHW XOWUDVRRQVHQVRUHQ SDUNHUHQ +HW V\VWHHP EHVWDDW XLW YLHU XOWUDVRRQSDUNHHUVHQVRU LQ GH DFKWHUಢ EXPSHU /HW RS $FFHVVRLUHV H G GLH LQ KHW GHWHFWLHಢ JHELHG YDQ GH VHQVRUHQ JHPRQಢ WHHUG ]LMQ NXQQHQ VWRULQJHQ LQ KHW V\VWHHP YHURRU]DNHQ $FWLYHULQJ :DQQHHU X GH DFKWHUXLW LQVFKDNHOW ZRUGW KHW V\VWHHP DXWRPDWLVFK JHDFಢ WLYHHUG 'H DDQZH]LJKHLG YDQ HHQ REಢ VWDNHO ZRUGW DDQJHJHYHQ GRRU JHಢ OXLGVVLJQDOHQ 'H JHOXLGVVLJQDOHQ YROJHQ HONDD
5LMGHQ HQ EHGLHQLQJ 9RRU]LFKWLJ +HW SDUNHHUKXOSV\VWHHP PDJ DOಢ OHHQ DOV HHQ DDQYXOOHQGH IXQFWLH ZRUGHQ JH]LHQ 'H EHVWXXUGHU PRHW DFKWHUXLW NLMNHQ +HW KRRUEDUH ZDDUVFKXZLQJVVLJಢ QDDO NDQ YHUVFKLOOHQ DIKDQNHOLMN YDQ GH YRRUZHUSHQ +HW KRRUEDUH ZDDUVFKXZLQJVVLJಢ QDDO ZRUGW QLHW JHDFWLYHHUG ZDQಢ QHHU GH VHQVRU EHYURUHQ RI YHUಢ YXLOG LV PHW YXLO RI PRGGHU 'XZ QLHW WHJHQ GH EXLWHQNDQW YDQ GH VHQVRU HQ EHNUDV GH]H QLHW +LHUGRRU ZRUGW ZDDUVFKLMQOLMN GH DIGHNNLQJ EHVFKDGLJG +HW LV PRJHOLMN GDW KHW SDUNHHUಢ KXOS
5LMGHQ HQ EHGLHQLQJ %UDQGVWRI %UDQGVWRI YRRU EHQ]LQHPRWRUHQ $OOHHQ ORRGYULMH EUDQGVWRIIHQ JHEUXLಢ NHQ GLH YROGRHQ DDQ ',1 (1 *HOLMNZDDUGLJ JHQRUPHHUGH EUDQGಢ VWRIIHQ PHW HHQ HWKDQROJHKDOWH YDQ PD[ PRJHQ RRN ZRUGHQ JHಢ EUXLNW %UDQGVWRI PHW KHW DDQEHYROHQ RFಢ WDDQJHWDO JHEUXLNHQ +HW JHಢ EUXLN YDQ EUDQGVWRI PHW HHQ WH ODDJ RFWDDQJHWDO UHVXOWHHUW PRJHOLMN LQ HHQ ODJHU PRWRUYHUPRJHQ HQ PRWRUNRSಢ SHO HQ NDQ HHQ OLFKWH VWLMJLQJ YDQ KHW EUDQGVWRIYHUEUXLN WRW JHYROJ KHEEHQ 9RRU]LFKWLJ +HW J
5LMGHQ HQ EHGLHQLQJ *HYDDU =HW GH PRWRU DI HQ VFKDNHO H[WHUQ YHUZDUPLQJHQ PHW YHUEUDQGLQJVಢ NDPHUV XLW DOYRUHQV WH EHJLQQHQ PHW WDQNHQ 6FKDNHO PRELHOH WHOHಢ IRRQV XLW 9HUGDPSWH EUDQGVWRI NDQ ZRUGHQ RQWVWRNHQ GRRU HOHNWURPDJQHWLಢ VFKH JROYHQ RI GH VWURRP YDQ GH PRELHOH WHOHIRRQV %UDQGVWRI LV EUDQGEDDU HQ H[SORಢ VLHI 1LHW URNHQ *HHQ RSHQ YXXU RI YRQNHQ 9ROJ GH EHGLHQLQJV HQ YHLOLJKHLGVLQVWUXFWLHV YDQ KHW WDQNಢ VWDWLRQ WLMGHQV KHW WDQNHQ 9HUZLMGHU VWDWLVFKH HOHNWULFLWHLW DDQ XZ KDQGHQ GRRU HHQ YRRUಢ
5LMGHQ HQ EHGLHQLQJ 9RRU]LFKWLJ *HPRUVWH EUDQGVWRI RQPLGGHOOLMN DIZDVVHQ $OV GH WDQNGRS YHUJUHQGHOG LV NXQW X GH]H RQWJUHQGHOHQ PHW GH FRQWDFWVOHXWHO 9HUZLMGHU GH GRS 'H GRS ]LW PHW HHQ VFKDUQLHUHQGH EHYHVWLJLQJVKDDN YDVW DDQ GH DXWR 6OXLW GH WRS QD KHW WDQNHQ 'UDDL GH GRS UHFKWVRP YDVW WRWGDW X HHQ NOLNJHOXLG KRRUW 'UXN GH WDQNYXONOHS GLFKW WRWGDW GH]H YHUJUHQGHOW /HW RS $OV ELM NRXG ZHHU GH EUDQGVWRIYXOಢ NOHS QLHW RSHQ JDDW WLN GDQ OLFKWMHV RS GH NOHS 3UREHHU GH NOHS GDDUQD RSQLH
9HU]RUJLQJ YDQ GH DXWR 9HU]RUJLQJ YDQ GH DXWR $OJHPHQH LQIRUPDWLH $OJHPHQH LQIRUPDWLH &RQWUROH YDQ GH DXWR *ORHLODPS YHUYDQJHQ (OHNWULVFK V\VWHHP %RRUGJHUHHGVFKDS 9HOJHQ HQ EDQGHQ 6WDUWKXOS JHEUXLNHQ 7UHNNHQ 9HU]RUJLQJ YDQ XLWHUOLMN :LM UDGHQ X DDQ DOOHHQ JHEUXLN WH PDಢ NHQ YDQ
9HU]RUJLQJ YDQ GH DXWR %DQGHQVSDQQLQJ LQVWHOOHQ RS GH ZDDUGH YRRU PD[LPDOH EHODGLQJ $XWR LQ HHQ GURJH HQ JRHG JHYHQಢ WLOHHUGH UXLPWH SDUNHUHQ (HUVWH YHUVQHOOLQJ RI DFKWHUXLWYHUVQHOOLQJ LQVFKDNHOHQ 6FKDNHO ELM HHQ DXWRಢ PDWLVFKH YHUVQHOOLQJVEDN GH VWDQG 3 LQ 9RRUNRPHQ GDW GH DXWR NDQ ZHJUROOHQ +DQGUHP QLHW DDQWUHNNHQ 0RWRUNDS RSHQHQ DOOH SRUWLHUHQ VOXLWHQ HQ DXWR YHUJUHQGHOHQ 3RRONOHP YDQ GH PLQSRRO YDQ GH DFFX ORVNRSSHOHQ (URS OHWWHQ GDW JHHQ YDQ GH V\VWHPHQ ZHUNW ZDDUಢ RQGHU KHW G
9HU]RUJLQJ YDQ GH DXWR *HYDDU +HW RQWVWHNLQJVV\VWHHP ZHUNW PHW HHQ ]HHU KRJH VSDQQLQJ 1LHW DDQಢ UDNHQ 0RWRUNDS 2SHQHQ :LQGKDDN RPKRRJGXZHQ HQ GH PRWRUNDS RSHQHQ :DDUVFKXZLQJ $OOHHQ GH VFKXLPSODVWLF EHNOHGLQJ YDQ GH ZLQGKDDN DDQUDNHQ ZDQಢ QHHU GH PRWRU KHHW LV $DQ GH RQWJUHQGHOLQJVKHQGHO WUHNNHQ HQ LQ GH XLWJDQJVSRVLWLH WHUXJGXZHQ 7UHN GH RQGHUVWHXQLQJVWDQJ YRRUಢ ]LFKWLJ XLW GH KRXGHU (Q ]HW KHP YHUYROJHQV YDVW DDQ GH OLQNHU ]LMಢ KDDN YDQ GH PRWRUUXLPWH 6OXLWHQ 6WHXQ YääU KHW
9HU]RUJLQJ YDQ GH DXWR :DDUVFKXZLQJ +RXG DOWLMG GH YROJHQGH YRRUಢ ]RUJVPDDWUHJHOHQ LQ DFKW 7UHN GH PRWRUNDS DDQ GH YRRU]LMGH RPಢ KRRJ RP WH FRQWUROHUHQ RI KLM JRHG YHUJUHQGHOG LV YRRUGDW X ZHJULMGW 7UHN WLMGHQV KHW ULMGHQ QLHW DDQ GH RQWJUHQGHOKHQGHO YDQ GH PRWRUಢ NDS 9HUSODDWV GH ZDJHQ QLHW WHUZLMO GH PRWRUNDS LV JHRSHQG (HQ JHRಢ SHQGH PRWRUNDS EORNNHHUW KHW ]LFKW YDQ GH EHVWXXUGHU 5LMGHQ PHW HHQ JHRSHQGH PRWRUಢ NDS NDQ OHLGHQ WRW HHQ DDQULMGLQJ HQ GDDUPHH WRW IDWDDO OHWVHO HQ RI PDWHULÜOH V
9HU]RUJLQJ YDQ GH DXWR 2YHU]LFKW PRWRUUXLPWH %HQ]LQHPRWRU
9HU]RUJLQJ YDQ GH DXWR %HQ]LQHPRWRU
9HU]RUJLQJ YDQ GH DXWR %HQ]LQHPRWRU
9HU]RUJLQJ YDQ GH DXWR 'LHVHOPRWRU
9HU]RUJLQJ YDQ GH DXWR 0RWRUOXFKWILOWHU 3HLOVWRN PRWRUROLH 9XOGRS PRWRUROLH 5HPYORHLVWRIUHVHUYRLU $FFX =HNHULQJHQNDVWMH 6SURHLHUYORHLVWRIUHVHUYRLU .
9HU]RUJLQJ YDQ GH DXWR :LM UDGHQ X DDQ GH]HOIGH VRRUW ROLH WH QHPHQ DOV YRRU GH ODDWVWH ROLHYHUYHUಢ VLQJ LV JHEUXLNW 'H PRWRUROLH PDJ QLHW KRJHU VWDDQ GDQ KHW ERYHQVWH PHUNWHNHQ 0 0$; RS GH SHLOVWRN 'H PRWRUROLHYXOGRS EHYLQGW ]LFK RS GH NOHSSHQGHNVHO 9RRU]LFKWLJ (HQ WHYHHO DDQ PRWRUROLH PRHW ZRUGHQ DIJHWDSW RI DIJH]RJHQ 9XOKRHYHHOKHGHQ HQ YLVFRVLWHLW :DDUVFKXZLQJ 9RRU]LFKWLJ 0RWRUROLH LV LUULWHUHQG HQ NDQ ELM LQಢ VOLNNHQ ]LHNWH RI RYHUOLMGHQ YHURRUಢ ]DNHQ 8LW GH EXXUW YDQ NLQGH
9HU]RUJLQJ YDQ GH DXWR 9RRU]LFKWLJ 0RWRUOXFKWILOWHU 'RRU KHW JHEUXLN YDQ GH YHUNHHUGH YORHLVWRI NDQ GH DXWR ZRUGHQ EHಢ VFKDGLJG *HEUXLN DOWLMG GH YORHLಢ VWRI YHUPHOG RQGHU $DQEHYROHQ YORHLVWRIIHQ HQ VPHHUPLGGHOHQ 9RRU]LFKWLJ =HW GH PRWRU XLW HQ ODDW GH KDQGಢ JHVFKDNHOGH YHUVQHOOLQJVEDN DIಢ NRHOHQ 9HUZLMGHU GH YXOSOXJ $OV KHW YORHLVWRIQLYHDX ODDJ VWDDW YXO GDQ YHUVQHOOLQJVEDNYORHLVWRI ELM WRW KHW QLYHDX ZHHU ELM GH RQಢ GHUNDQW YDQ GH YXOSOXJRSHQLQJ VWDDW %UHQJ QD KHW ELMYXOOHQ
9HU]RUJLQJ YDQ GH DXWR 9RRU]LFKWLJ 'H PRWRU KHHIW VFKRQH OXFKW QRGLJ RP JRHG WH NXQQHQ ZHUNHQ /DDW GH PRWRU QLHW GUDDLHQ ]RQGHU GDW KHW OXFKWILOWHUHOHPHQW JHSODDWVW LV 5LMGHQ ]RQGHU GDW KHW OXFKWILOWHUಢ HOHPHQW RS GH MXLVWH PDQLHU JHಢ SODDWVW LV NDQ GH PRWRU EHVFKDGLಢ JHQ .
9HU]RUJLQJ YDQ GH DXWR /HW RS ,QGLHQ KHW NRHOYORHLVWRISHLO WRW RQGHU GH 0,1 OLMQPDUNHULQJ NRPW YXO GH UDGLDWHXU GDQ PHW HHQ DQWLಢ YULHVPHQJVHO YDQ JHGHPLQHUDOLಢ VHHUG ZDWHU HQ DQWLYULHV RS EDVLV YDQ RUJDQLVFKH ]XUHQ *HEUXLN HHQ PHQJVHO YDQ ZDಢ WHU HQ DQWLYULHV RP XZ DXWR WHಢ JHQ H[WUHHP NRXG ZHHU WH EHVFKHUಢ PHQ 9RRU]LFKWLJ /HLGLQJZDWHU RI HHQ RQMXLVW PHQJಢ VHO NDQ KHW NRHOV\VWHHP EHVFKDಢ GLJHQ *HEUXLN JHHQ OHLGLQJZDWHU RI DQWLಢ YULHV RS DOFRKRO RI PHWKDQROEDVLV LQ KHW NRHOV\VWHHP
9HU]RUJLQJ YDQ GH DXWR +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ 9RRU]LFKWLJ :DDUVFKXZLQJ =HHU NOHLQH KRHYHHOKHGHQ YXLOಢ GHHOWMHV NXQQHQ VFKDGH DDQ GH VWXXULQULFKWLQJVV\VWHHP YHURRU]Dಢ NHQ ZDDUGRRU KHW QLHW PHHU JRHG ZHUNW 9RRUNRP GDW YXLOGHHOWMHV LQ FRQWDFW NRPHQ PHW GH YORHLVWRIಢ ]LMGH YDQ GH UHVHUYRLUGRS SHLOVWRN RI GDW ]H LQ KHW UHVHUYRLU WHUHFKWಢ NRPHQ +HW PRUVHQ YDQ YORHLVWRI NDQ EUDQG RI YHUNOHXULQJ YDQ KHW ODNಢ ZHUN YHURRU]DNHQ 9XO KHW UHVHUYRLU QLHW WH YRO $OV GH PRWRU LQ EUDQG YOLHJW NDQ S
9HU]RUJLQJ YDQ GH DXWR %LMYXOOHQ YDQ KHW UXLWHQVSURHLHUUHVHUಢ YRLU *HEUXLN DOOHHQ LQ GH KDQGHO YHUಢ NULMJEDUH NDQW HQ NODUH VSURHLHUಢ YORHLVWRI *HHQ NUDDQZDWHU JHEUXLNHQ 'RRU GH PLQHUDOHQ LQ NUDDQZDWHU NXQQHQ GH YRRUUXLWHQVSURHLHUOHLGLQJHQ YHUಢ VWRSW UDNHQ *HEUXLN VSURHLHUYORHLVWRI PHW YROಢ GRHQGH YRUVWEHVFKHUPLQJ ZDQಢ QHHU KHW JDDW YULH]HQ 5HPYORHLVWRI :DDUVFKXZLQJ 5HPYORHLVWRI LV JLIWLJ HQ ELMWHQG &RQWDFW PHW RJHQ KXLG WH[WLHO HQ ODNZHUN YHUPLMGHQ 9RRU]LFKWLJ 'H UHPYORHLVWRI PRHW
9HU]RUJLQJ YDQ GH DXWR 9RRU]LFKWLJ *RRL UHPYORHLVWRI QLHW ZHJ PHW KHW KXLVKRXGHOLMN DIYDO %UHQJ GH]H QDDU HHQ LQ]DPHOSXQW YRRU FKHPLVFK DIYDO *HEUXLNWH UHPYORHLVWRI HQ YORHLಢ VWRIEOLNNHQ ]LMQ JHYDDUOLMN =LM NXQಢ QHQ VFKDGHOLMN ]LMQ YRRU XZ JHಢ ]RQGKHLG HQ KHW PLOLHX 5HPYORHLVWRI LV JHYDDUOLMN HQ NDQ KXLG HQ RJHQ LUULWHUHQ /DDW JHHQ UHPYORHLVWRI RS XZ KXLG RI LQ XZ RJHQ NRPHQ *HEHXUW GLW ZHO ZDV KHW EHWURIIHQ JHELHG GDQ RQPLGGHOOLMN PHW ]HHS HQ ZDWHU RI $FFX 'H DFFX YDQ GH DXWR LV RQGHUKRXGVಢ
9HU]RUJLQJ YDQ GH DXWR %HWHNHQLV YDQ GH V\PEROHQ *HHQ YRQNHQ RSHQ YXXU HQ QLHW URಢ NHQ $OWLMG HHQ YHLOLJKHLGVEULO GUDJHQ ([SORVLHYH JDVVHQ NXQQHQ DDQOHLಢ GLQJ JHYHQ WRW EOLQGKHLG RI OHWVHO 'H DFFX XLW GH EXXUW YDQ NLQGHUHQ KRXGHQ 'H DFFX EHYDW ]ZDYHO]XXU GDW DDQಢ OHLGLQJ NDQ JHYHQ WRW EOLQGKHLG RI HUQVWLJH EUDQGZRQGHQ =LH GH JHEUXLNHUVKDQGOHLGLQJ YRRU PHHU LQIRUPDWLH (U NDQ H[SORVLHI JDV DDQZH]LJ ]LMQ LQ GH EXXUW YDQ GH DFFX 'LHVHOEUDQGVWRIILOWHU :DWHU XLW EUDQGVWRIILOWHU DIWDSSHQ $OV
9HU]RUJLQJ YDQ GH DXWR 'LHVHOEUDQGVWRIV\VWHHP RQWOXFKWHQ 1D KHW OHHJULMGHQ YDQ GH WDQN PRHW KHW GLHVHOEUDQGVWRIV\VWHHP ZRUGHQ RQWOXFKW +HW FRQWDFW GULHPDDO DFKWHUಢ HHQ VHFRQGHQ ODQJ LQVFKDNHOHQ 0RWRU YHUYROJHQV PD[LPDDO VHಢ FRQGHQ ODWHQ VWDUWHQ 'H]H SURFHGXUH QD PLQVWHQV VHFRQGHQ KHUKDOHQ 6ODDW GH PRWRU QLHW DDQ GDQ GH KXOS YDQ HHQ ZHUNSODDWV LQURHSHQ :LVVHUEODG YHUYDQJHQ *RHG ZHUNHQGH YRRUUXLWHQZLVVHUV ]LMQ XLWHUPDWH EHODQJULMN YRRU HHQ JRHG ]LFKW HQ YHLOLJ ULMGHQ ,QVSHFWHHU GH VWDDW
9HU]RUJLQJ YDQ GH DXWR *ORHLODPS YHUYDQJHQ :LVVHUEODG DFKWHUUXLWZLVVHU +DDO KHW ZLVVHUEODG RPKRRJ WRW KHW ZLVVHUEODG HQ GH ZLVVHUDUPಢ KRXGHU RS JHOLMNH KRRJWH NRPHQ 7UHN KHW ZLVVHUEODG HUXLW 9HUZLMGHU KHW ZLVVHUEODG XLW GH KRXGHU OHW RS KHW JHOHLGLQJVJDW &RQWDFW XLWVFKDNHOHQ HQ GHVEHWUHIಢ IHQGH VFKDNHODDU XLWVFKDNHOHQ RI SRUಢ WLHUHQ VOXLWHQ 1LHXZH JORHLODPS DOOHHQ DDQ ILWWLQJ YDVWSDNNHQ +HW JODV YDQ GH JORHLಢ ODPS QLHW PHW EORWH KDQGHQ DDQUDNHQ %LM YHUYDQJHQ DOWLMG KHW]HOIGH W\SH J
9HU]RUJLQJ YDQ GH DXWR 6WHNNHU YDQ JORHLODPS ORVKDOHQ 9HUYDQJ GH JORHLODPS HQ PDDN GH FRQQHFWRU YDVW DDQ GH JORHLODPS %LM KHW DDQEUHQJHQ YDQ GH QLHXZH JORHLODPS GH OLSMHV LQ GH XLWVSDULQಢ JHQ YDQ KHW UHIOHFWRUKXLV VWHNHQ 'UDDGYHHUNOHP YDVWNOLNNHQ .RSODPSDIGHNNLQJ DDQEUHQJHQ HQ YDVWGUDDLHQ .RSODPSHQ *URRWOLFKW HQ GLPOLFKW .
9HU]RUJLQJ YDQ GH DXWR 'UDDL GH VWHOERXWHQ PHW HHQ VFKURHಢ YHQGUDDLHU HHQ KDOYH VODJ UHFKWVRP 'UDDL GH VWHOERXWHQ HHQ KDOYH VODJ OLQNVRP RP WH GHDFWLYHUHQ 3DUNHHUOLFKWHQ /DPSKRXGHU ]LMPDUNHULQJVOLFKW XLW UHIOHFWRUKXLV YHUZLMGHUHQ 6WHNNHU YDQ JORHLODPS ORVKDOHQ 9RRU]LFKWLJ /DDW GH NRSODPSKRRJWH QD KHW GHDFWLYHUHQ FRQWUROHUHQ :LM DGYLVHUHQ X FRQWDFW RS WH QHಢ PHQ PHW HHQ HUNHQG UHSDUDWLHEHಢ GULMI :DDUVFKXZLQJ :DQQHHU GH NRSODPSHQ YHUNHHUG ]LMQ DIJHVWHOG NDQ GH EHVWXXUGHU YDQ HHQ WHJHQO
9HU]RUJLQJ YDQ GH DXWR 0LVWODPSHQ $FKWHUOLFKWHQ *ORHLODPSHQ GRRU HHQ ZHUNSODDWV ODಢ WHQ YHUYDQJHQ 5LFKWLQJDDQZLM]HUV YRRUDDQ /DPSKRXGHU OLQNVRP GUDDLHQ HQ ORVPDNHQ *ORHLODPS LHWV LQ ODPSKRXGHU GXಢ ZHQ OLQNVRP GUDDLHQ YHUZLMGHUHQ HQ QLHXZH JORHLODPS SODDWVHQ /DPSKRXGHU LQ UHIOHFWRUKXLV SODDWVHQ HQ UHFKWVRP YHUJUHQGHಢ OHQ %HLGH ERXWMHV ORVGUDDLHQ 7UHN DDQ GH DFKWHUOLFKWHHQKHLG RP WH YHUZLMGHUHQ 'H NDEHOJHOHLಢ GHU PRHW RS ]LMQ SODDWV EOLMYHQ ]LWಢ WHQ
9HU]RUJLQJ YDQ GH DXWR /DPSKRXGHU YHUZLMGHUHQ *ORHLಢ ODPS LHWV LQ ODPSKRXGHU GXZHQ OLQNVRP GUDDLHQ YHUZLMGHUHQ HQ QLHXZH JORHLODPS SODDWVHQ /DPSKRXGHU LQ GH DFKWHUOLFKW XQLW VWHNHQ HQ YDVWVFKURHYHQ $FKWHUಢ OLFKW XQLW LQ FDUURVVHULH DDQEUHQಢ JHQ HQ ERXWMHV YDVWGUDDLHQ $Iಢ GHNNLQJHQ VOXLWHQ HQ YDVWNOLNNHQ &RQWDFW LQVFKDNHOHQ YHUOLFKWLQJ DFWLYHUHQ HQ FRQWUROHUHQ RI DOOH ODPSHQ ZHUNHQ $FKWHUOLFKW UHPOLFKW 5LFKWLQJDDQZLM]HU $FKWHUXLWULMOLFKW SDVVDJLHUV]LMGH PLVWDFKWHUOLFKW E
9HU]RUJLQJ YDQ GH DXWR =LMULFKWLQJDDQZLM]HUV /DPSHOHPHQW PHW VFKURHYHQಢ GUDDLHU ORVZLSSHQ 'UXN GH ODPS QDDU YRUHQ EHVWXXUGHUV]LMGH RI QDDU DFKWHUHQ SDVVDJLHUV]LMGH .DQWHO GH ODPS YHUYROJHQV RPಢ ODDJ HQ YHUZLMGHU GH]H XLW GH XLWಢ VSDULQJ /DPSKRXGHU OLQNVRP GUDDLHQ *ORHLODPS XLW GH ODPSKRXGHU WUHNಢ NHQ HQ YHUYDQJHQ ,Q RPJHNHHUGH YROJRUGH WHUXJಢ SODDWVHQ 'HUGH UHPOLFKW $OV KHW GHUGH UHPOLFKW QLHW IXQFWLRಢ QHHUW ODDW GLW GDQ FRQWUROHUHQ GRRU HHQ DXWRZHUNSODDWV .
9HU]RUJLQJ YDQ GH DXWR %LQQHQYHUOLFKWLQJ /DPSHOHPHQW PHW VFKURHYHQಢ GUDDLHU ORVZHUNHQ ,QWHULHXUYHUOLFKWLQJ (OHNWULVFK V\VWHHP =HNHULQJHQ :ULN GH NDQW WHJHQRYHU GH OLFKWಢ VFKDNHODDU PHW HHQ SODWWH VFKURHಢ YHQGUDDLHU ORV RP GH]H WH YHUZLMಢ GHUHQ 0DDN JHHQ NUDVVHQ 9HUZLMGHU GH JORHLODPS 9HUYDQJ GH JORHLODPS 3ODDWV GH ODPSHHQKHLG WHUXJ $FKWHUNOHS RI NRIIHUGHNVHO YHUOLFKWLQJ /DPS YHUZLMGHUHQ 1LHXZH JORHLODPS SODDWVHQ /DPSHOHPHQW DDQEUHQJHQ &RQWUROHUHQ RI KHW RSVF
9HU]RUJLQJ YDQ GH DXWR /HW RS +HW LV PRJHOLMN GDW QLHW DOOH EHVFKUHಢ YHQ ]HNHULQJHQNDVWHQ RS XZ DXWR DDQZH]LJ ]LMQ 5DDGSOHHJ ELM HHQ FRQWUROH YDQ GH ]HNHULQJHQNDVW GH ELMEHKRUHQGH VWLFNHU =HNHULQJHQNDVW LQ PRWRUUXLPWH =HNHULQJWUHNNHU ,Q GH ]HNHULQJHQNDVW LQ GH PRWRUಢ UXLPWH ]LW PRJHOLMN HHQ ]HNHULQJWUHNಢ NHU =HNHULQJWUHNNHU YDQ ERYHQ DI RI YDQ RS]LM RS ]HNHULQJ ]HWWHQ HQ ]HNHULQJ ORVWUHNNHQ 'H ]HNHULQJHQNDVW EHYLQGW ]LFK LQ GH PRWRUUXLPWH 0DDN KHW GHNVHO ORV WLO KHW RS HQ YHUಢ ZLMGHU KHW %HQ
9HU]RUJLQJ YDQ GH DXWR 1U 6WURRPNULQJ 1U 6WURRPNULQJ 1U 6WURRPNULQJ 6QHOKHLGVUHODLV YRRUUXLWZLVVHU 5HVHUYH]HNHULQJ .RHOYHQWLODWRU . $%6 SRPS 5HVHUYH]HNHULQJ .RHOYHQWLODWRU . 6QHOKHLGVUHODLV DFKWHUUXLWZLVVHU 5HVHUYH]HNHULQJ (93 5XLWHQZLVVHU YRRU ಥ (&0 $DQMDJHU 581 &5$1. ,(& $LUFRNRSSHOLQJ $%6 NOHS 581 &5$1.
9HU]RUJLQJ YDQ GH DXWR 1U 6WURRPNULQJ 'LHVHO 1U 6WURRPNULQJ 6QHOKHLGVUHODLV YRRUUXLWZLVಢ VHU *URRWOLFKW UHFKWV $%6 SRPS 5HODLV NRHOYHQWLODWRU .
9HU]RUJLQJ YDQ GH DXWR 1U 6WURRPNULQJ 1U 6WURRPNULQJ 1U 6WURRPNULQJ 5HODLV DFKWHUUXLWYHUZDUPLQJ 9HUZDUPLQJ EUDQGVWRIILOWHU *URRWOLFKWUHODLV $FKWHUUXLWYHUZDUPLQJ 5(& &OD[RQ 5HVHUYH]HNHULQJ *ORHLERXJLH 0LVWODPSHQ YRRU ಥ (&0 *URRWOLFKW OLQNV 581 &5$1. ,(& $LUFRNRSSHOLQJ *URRWOLFKW UHFKWV 581 &5$1. UHODLV 7&0 5HODLV NRHOYHQWLODWRU .
9HU]RUJLQJ YDQ GH DXWR +HW ]HNHULQJHQNDVWMH LQWHULHXU EHಢ YLQGW ]LFK DDQ GH RQGHU]LMGH YDQ KHW GDVKERDUG DDQ GH EHVWXXUGHUV]LMGH 1U 6WURRPNULQJ 1U 6WURRPNULQJ '/,6 $LUEDJ 581 &5$1. '/& 5XQ UHODLV $LUEDJ $FKWHUNOHSUHODLV $FKWHUNOHS $DQKDQJHU 581 &5$1. 5HVHUYH]HNHULQJ .
9HU]RUJLQJ YDQ GH DXWR 1U 6WURRPNULQJ 37& $FFXFRQQHFWRU %RRUGJHUHHGVFKDS *HUHHGVFKDS $XWR V PHW EDQGHQUHSDUDWLHVHW +HW JHUHHGVFKDS HQ GH EDQGHQUHSDಢ UDWLHVHW OLJJHQ LQ HHQ RSEHUJYDN RQಢ GHU GH YORHUDIGHNSODDW YDQ GH EDJDಢ JHUXLPWH $XWR V PHW UHVHUYHZLHO 'H NULN HQ KHW JHUHHGVFKDS OLJJHQ LQ HHQ RSEHUJYDN LQ GH EDJDJHUXLPWH RS KHW UHVHUYHZLHO 1RRGUHVHUYHZLHO ZLHO YHUZLVಢ VHOHQ
9HU]RUJLQJ YDQ GH DXWR 9HOJHQ HQ EDQGHQ :LHOHQ HQ EDQGHQ &RQGLWLH YDQ EDQGHQ HQ YHOJHQ =R ODQJ]DDP PRJHOLMN HQ RQGHU HHQ UHFKWH KRHN RYHU REVWDNHOV ULMGHQ +HW ULMGHQ RYHU VFKHUSH UDQGHQ NDQ VFKDGH DDQ EDQGHQ HQ YHOJHQ WRW JHಢ YROJ KHEEHQ %DQGHQ QLHW WHJHQ GH VWRHSUDQG NOHPPHQ 'H ZLHOHQ UHJHOPDWLJ RS EHVFKDGLಢ JLQJ FRQWUROHUHQ %LM EHVFKDGLJLQJHQ RI DEQRUPDOH VOLMWDJH GH KXOS YDQ HHQ ZHUNSODDWV LQURHSHQ :LQWHUEDQGHQ :LQWHUEDQGHQ YHUKRJHQ GH YHLOLJKHLG ELM WHPSHUDWXUHQ RQGHU ¡& HQ PRHಢ WHQ GDDURP
9HU]RUJLQJ YDQ GH DXWR (HQ RQMXLVWH EDQGHQVSDQQLQJ EHàQಢ YORHGW GH YHLOLJKHLG KHW ZHJJHGUDJ KHW ULMFRPIRUW HQ KHW EUDQGVWRIYHUಢ EUXLN QHJDWLHI HQ YHUKRRJW GH EDQಢ GHQVOLMWDJH %DQGHQ YHURXGHUHQ RRN ZDQQHHU HU QLHW PHH JHUHGHQ ZRUGW :LM UDGHQ X DDQ GH EDQGHQ RP GH MDDU WH YHUಢ YDQJHQ 9DQ EDQGHQ HQ YHOJPDDW YHUDQGHUHQ :DDUVFKXZLQJ (HQ WH ODJH EDQGHQVSDQQLQJ NDQ DDQOHLGLQJ JHYHQ WRW RYHUYHUKLWWLQJ YDQ GH EDQGHQ HQ LQWHUQH EHVFKDಢ GLJLQJHQ ZDW ELM KRJH VQHOKHGHQ ORVODWHQGH ORRSYODNNHQ HQ ]HOIV NODS
9HU]RUJLQJ YDQ GH DXWR :DDUVFKXZLQJ :DDUVFKXZLQJ +HW JHEUXLN YDQ RQJHVFKLNWH EDQಢ GHQ RI YHOJHQ NDQ WRW RQJHOXNNHQ OHLGHQ HQ PDDNW GH W\SHJRHGNHXಢ ULQJ YDQ KHW YRHUWXLJ RQJHOGLJ *HEUXLN JDDQ DQGHUH EDQGHQ YHOJPDWHQ GDQ GLH RRUVSURQNHOLMN RS KHW YRHUWXLJ ZHUGHQ JHSODDWVW 'LW NDQ YDQ LQYORHG ]LMQ RS GH YHLಢ OLJKHLG HQ SUHVWDWLH YDQ KHW YRHUಢ WXLJ 'LW NDQ OHLGHQ WRW SUREOHPHQ PHW VWXUHQ RPUROOHQ HQ HUQVWLJ OHWಢ VHO /HW HU ELM KHW YHUYDQJHQ YDQ EDQGHQ RS GDW DOOH YLHU GH ZLHOHQ GH]HOIGH PDDW
9HU]RUJLQJ YDQ GH DXWR 6QHHXZNHWWLQJHQ %DQGHQUHSDUDWLHVHW /LFKWH EHVFKDGLJLQJHQ YDQ GH ORRSಢ YODNNHQ HQ GH ]LMZDQGHQ YDQ GH EDQಢ GHQ NXQQHQ PHW GH EDQGHQUHSDUDWLHಢ VHW ZRUGHQ YHUKROSHQ 9UHHPGH YRRUZHUSHQ QLHW XLW GH EDQಢ GHQ YHUZLMGHUHQ %HVFKDGLJLQJHQ GLH JURWHU ]LMQ GDQ PP RI GLH LQ GH EDQGZDQJ GLFKWELM GH YHOJ ]LWWHQ NXQQHQ QLHW PHW GH EDQGHQUHSDUDWLHVHW ZRUGHQ YHUKROಢ SHQ 6QHHXZNHWWLQJHQ ]LMQ DOOHHQ WRHJHಢ VWDDQ RS GH YRRUDV XLWVOXLWHQG ELM LQFK EDQGHQ *HEUXLN DOWLMG NHWWLQJHQ PHW
9HU]RUJLQJ YDQ GH DXWR 9HUZLMGHU GH DDQVOXLWNDEHO HQ GH OXFKWVODQJ XLW GH RSEHUJಢ YDNNHQ DDQ GH RQGHUNDQW YDQ GH FRPSUHVVRU 'H VFKDNHODDU YDQ GH FRPSUHVಢ VRU PRHW RS c VWDDQ 6FKURHI GH FRPSUHVVRUOXFKWVODQJ RS GH NRSSHOLQJ YDQ GH IOHV DIಢ GLFKWPLGGHO 6WHHN GH FRPSUHVVRUVWHNNHU LQ GH DFFHVVRLUHDDQVOXLWLQJ 9 DDQಢ VOXLWLQJ RI DDQVWHNHUFRQWDFW 2P WH YRRUNRPHQ GDW GH DFFX OHHJಢ UDDNW LV KHW UDDG]DDP GH PRWRU WH ODWHQ GUDDLHQ =HW GH IOHV DIGLFKWPLGGHO LQ GH KRXGHU RS GH FRP
9HU]RUJLQJ YDQ GH DXWR =HW GH ZLSVFKDNHODDU YDQ GH FRPಢ SUHVVRU RS ,, 'H EDQG ZRUGW QX PHW DIGLFKWPLGGHO JHYXOG 'H PDQRPHWHU YDQ GH FRPSUHVಢ VRU JHHIW HYHQ PD[ EDU DDQ ZDQQHHU GH IOHV DIGLFKWPLGGHO ZRUGW JHOHHJG FD VHFRQGHQ 'DDUQD EHJLQW GH GUXN WH GDOHQ $O KHW DIGLFKWPLGGHO ZRUGW LQ GH EDQG JHSRPSW 'DDUQD ZRUGW GH EDQG RSJHSRPSW 'H YRRUJHVFKUHYHQ EDQGHQVSDQಢ QLQJ RQJHYHHU EDU PRHW ELQಢ QHQ PLQXWHQ ZRUGHQ EHUHLNW 6FKDNHO GH FRPSUHVVRU XLW ZDQಢ QHHU GH MXLVWH EDQGHQ
9HU]RUJLQJ YDQ GH DXWR PLQXWHQ VWRSSHQ HQ GH EDQಢ GHQVSDQQLQJ FRQWUROHUHQ +LHUಢ YRRU GH OXFKWVODQJ YDQ GH FRPಢ SUHVVRU UHFKWVWUHHNV RS EDQGYHQಢ WLHO HQ FRPSUHVVRU VFKURHYHQ %LM HHQ EDQGHQVSDQQLQJ KRJHU GDQ EDU GH EDQGHQVSDQQLQJ RS GH YRRUJHVFKUHYHQ ZDDUGH RQJHYHHU EDU EUHQJHQ 3URಢ FHGXUH QU KHUKDOHQ WRWGDW GH EDQGHQVSDQQLQJ QLHW PHHU DIಢ QHHPW %LM HHQ EDQGHQVSDQQLQJ ODJHU GDQ EDU GH DXWR QLHW PHHU JHಢ EUXLNHQ 'H KXOS YDQ HHQ ZHUNಢ SODDWV LQURHSHQ %DQGHQUHSDUDWLHVHW L
9HU]RUJLQJ YDQ GH DXWR 1RRLW PHHUGHUH ZLHOHQ WHJHOLMNHUWLMG YHUYDQJHQ *HEUXLN GH NULN DOOHHQ RP HHQ ZLHO WH ZLVVHOHQ ELM EDQGHQSHFK HQ QLHW YRRU GH MDDUOLMNVH PRQWDJH YDQ ZLQಢ WHU RI ]RPHUEDQGHQ %LM HHQ ]DFKWH RQGHUJURQG HHQ VWHಢ YLJH SODQN PD[ FP GLN RQGHU GH NULN OHJJHQ ,Q GH RS WH NULNNHQ DXWR PRJHQ ]LFK JHHQ SHUVRQHQ RI GLHUHQ EHYLQGHQ 1RRLW RQGHU HHQ RSJHNULNWH DXWR NUXLSHQ 2SJHNULNWH DXWR QLHW VWDUWHQ 0DDN GH ZLHOPRHUHQ HQ GH VFKURHIGUDDG VFKRRQ DOYRUHQV KHW ZLHO WH PRQWHUHQ
9HU]RUJLQJ YDQ GH DXWR 'UDDL GH NULNKHQGHO RP GH KHINRS LHWV RP KRRJ WH EUHQJHQ HQ SODDWV GH NULN UHFKW RQGHU GH SRVLWLH GLH ZRUGW DDQJHGXLG PHW GH KDOYH FLUಢ NHO %HYHVWLJ GH NULNKHQGHO DDQ GH NULN HQ EHYHVWLJ GH VOHXWHO FRUUHFW DDQ GH NULNKHQGHO %UHQJ YHUYROJHQV GH NULN RPKRRJ ]RGDW GH KHINRS VWHYLJ DDQVOXLW RS GH NULNVWHXQ 'UDDL GH VOHXWHO ZDDUELM X GH FRUಢ UHFWH SRVLWLH YDQ GH NULN FRQWURಢ OHHUW WRW KHW ZLHO YULM LV YDQ GH JURQG 'UDDL GH ZLHOPRHUHQ ORV :LHO YHUZLVVH
9HU]RUJLQJ YDQ GH DXWR 9RRU]LFKWLJ +HW UHVHUYHZLHO OLJW LQ GH EDJDJHಢ UXLPWH RQGHU GH YORHUDIGHNSODDW +HW ZRUGW LQ GH NXLS YDVWJH]HW PHW HHQ YOHXJHOPRHU 'H NXLS YDQ KHW UHVHUYHZLHO LV QLHW RQWZRUSHQ YRRU DOOH WRHJHVWDQH EDQಢ GHQPDWHQ :LOW X HHQ YHUZLVVHOG ZLHO PHW HHQ EUHGHUH EDQG LQ GH UHVHUYHಢ ZLHONXLS OHJJHQ GDQ NXQW X GH YORHUಢ DIGHNSODDW RS KHW XLWVWHNHQGH ZLHO ODಢ WHQ UXVWHQ +HW UHVHUYHZLHO LV DOOHHQ EHGRHOG YRRU WLMGHOLMN QRRGJHEUXLN 9HUYDQJ GH]H ]R VSRHGLJ PRJHOLMN GRRU HHQ QRUPDOH EDQG *HE
9HU]RUJLQJ YDQ GH DXWR 6WDUWKXOS JHEUXLNHQ 1LHW VWDUWHQ PHW EHKXOS YDQ HHQ VQHOಢ ODGHU %LM HHQ RQWODGHQ DFFX NDQ GH PRWRU ZRUGHQ JHVWDUW PHW KXOSVWDUWNDEHOV HQ GH DFFX YDQ HHQ DQGHUH DXWR :DDUVFKXZLQJ +XOSVWDUWNDEHOV DOOHHQ PHW GH XLಢ WHUVWH YRRU]LFKWLJKHLG JHEUXLNHQ (ONH DIZLMNLQJ YDQ GH RQGHUಢ VWDDQGH LQVWUXFWLHV NDQ OHWVHO RI VFKDGH DOV JHYROJ YDQ KHW H[SORಢ GHUHQ YDQ GH DFFX V HQ VFKDGH DDQ GH HOHNWULVFKH V\VWHPHQ YDQ EHLGH DXWR V WRW JHYROJ KHEEHQ :DDUVFKXZLQJ /DDW GH DFFX QLHW LQ FRQWD
9HU]RUJLQJ YDQ GH DXWR +HW DQGHUH XLWHLQGH YDQ GH ]ZDUWH NDEHO RS GH PDVVD YDQ GH DXWR DDQVOXLWHQ ELMY RS KHW PRWRUEORN RI RS HHQ ERXW YDQ GH PRWRURSಢ KDQJLQJ =RYHU PRJHOLMN YDQ GH RQWODGHQ DFFX DDQVOXLWHQ PLQLಢ PDDO FP 'H NDEHOV ]R OHJJHQ GDW ]H QLHW GRRU GH GUDDLHQGH GHOHQ LQ GH PRWRUUXLPWH JHUDDNW NXQQHQ ZRUGHQ 2P GH PRWRU WH VWDUWHQ 'H PRWRU YDQ KHW VWURRP OHYHಢ UHQGH YRHUWXLJ VWDUWHQ 1D PLQXWHQ GH DQGHUH PRWRU VWDUWHQ 6WDUWSRJLQJHQ QLHW ODQJHU GDQ VHFRQGHQ ODWHQ GXUHQ PHW WXVV
9HU]RUJLQJ YDQ GH DXWR *D YRRU KHW VOHSHQ YDQ HHQ DXWR DOV YROJW WH ZHUN /DDW JHHQ SDVVDJLHUV LQ GH JHಢ VOHHSWH DXWR ]LWWHQ =HW GH KDQGUHP YDQ GH JHVOHHSWH DXWR ORV HQ ]HW GH YHUVQHOOLQJVEDN LQ GH QHXWUDDOVWDQG 6FKDNHO GH DODUPNQLSSHUOLFKWHQ LQ +RXG X DDQ GH PD[LPXPVQHOKHಢ GHQ $IGHNNLQJ ORVPDNHQ GRRU HURS WH GUXNNHQ HQ GH DIGHNNLQJ WH YHUZLMGHಢ UHQ +HW VOHHSRRJ LV RSJHERUJHQ ELM KHW ERRUGJHUHHGVFKDS 9RRU]LFKWLJ /DQJ]DDP ZHJULMGHQ 6FKRNಢ NHQGH EHZHJLQJHQ YHUPLMGHQ %XLWHQVSRULJH
9HU]RUJLQJ YDQ GH DXWR $QGHUH DXWR VOHSHQ 9RRU]LFKWLJ /DQJ]DDP ZHJULMGHQ 6FKRNಢ NHQGH EHZHJLQJHQ YHUPLMGHQ %XLWHQVSRULJH WUHNNUDFKWHQ NXQಢ QHQ GH DXWR EHVFKDGLJHQ $IGHNNLQJ ORVPDNHQ GRRU HURS WH GUXNNHQ HQ GH DIGHNNLQJ WH YHUZLMGHಢ UHQ +HW VOHHSRRJ LV RSJHERUJHQ ELM KHW ERRUGJHUHHGVFKDS 6OHHSRRJ LQVFKURHYHQ HQ WRW DDQ GH DDQVODJ LQ KRUL]RQWDOH VWDQG YDVWಢ GUDDLHQ 6OHHSNDEHO RI EHWHU QRJ HHQ VOHHSಢ VWDQJ DDQ KHW VOHHSRRJ EHYHVWLJHQ 6OHHSRRJ DOOHHQ JHEUXLNHQ RP GH DXWR ZHJ WH VOHSHQ HQ
9HU]RUJLQJ YDQ GH DXWR 9HU]RUJLQJ YDQ XLWHUOLMN 9HU]RUJLQJ H[WHULHXU 6ORWHQ 'H VORWHQ ]LMQ DI IDEULHN JHVPHHUG PHW HHQ KRRJZDDUGLJ VORWFLOLQGHUYHW 2QWGRRLPLGGHOHQ DOOHHQ LQ GULQJHQGH JHYDOOHQ JHEUXLNHQ RPGDW ]H RQWYHWಢ WHQG ZHUNHQ HQ GH ZHUNLQJ YDQ GH VORWHQ EHOHPPHUHQ 1D JHEUXLN YDQ RQWGRRLPLGGHOHQ GH VORWHQ GRRU HHQ ZHUNSODDWV RSQLHXZ ODWHQ VPHUHQ :DVVHQ +HW ODNZHUN YDQ GH DXWR VWDDW EORRW DDQ LQYORHGHQ YDQ EXLWHQDI 'H DXWR GDDURP UHJHOPDWLJ ZDVVHQ HQ PHW ZDV FRQVHUYHUHQ %LM KHW EH]RHN DDQ G
9HU]RUJLQJ YDQ GH DXWR 5XLWHQ HQ UXLWHQZLVVHUEODGHQ /DNVFKDGH (HQ ]DFKWH SOXLVYULMH GRHN RI HHQ ]HHPOHHU HQ HHQ UXLWHQUHLQLJHU HQ LQಢ VHFWHQYHUZLMGHUDDU JHEUXLNHQ %LM KHW UHLQLJHQ YDQ GH DFKWHUUXLW GH YHUZDUPLQJVGUDGHQ DDQ GH ELQQHQಢ NDQW QLHW EHVFKDGLJHQ 2P KDQGPDWLJ LMV WH YHUZLMGHUHQ HHQ LMVNUDEEHU PHW HHQ VFKHUSH UDQG JHಢ EUXLNHQ ,-VNUDEEHU VWHYLJ WHJHQ GH UXLW GUXNNHQ ]RGDW HU JHHQ YXLO RQGHU GH NUDEEHU NDQ NRPHQ HQ HU JHHQ NUDVVHQ RS GH UXLW ZRUGHQ JHPDDNW :LVVHUEODGHQ GLH VWUHSHQ WUHNNHQ PH
9HU]RUJLQJ YDQ GH DXWR 9RRU]LFKWLJ (YHQWXHOH NOLWWHQEDQGVOXLWLQJHQ DDQ NOHGLQJ GLFKWPDNHQ DDQJHಢ ]LHQ ORVVH NOLWWHQEDQGVOXLWLQJHQ GH VWRHOEHNOHGLQJ NXQQHQ EHVFKDGLಢ JHQ .XQVWVWRI HQ UXEEHU RQGHUGHOHQ .
6HUYLFH HQ RQGHUKRXG 6HUYLFH HQ RQGHUKRXG $OJHPHQH LQIRUPDWLH 6HUYLFH LQIRUPDWLH $OJHPHQH LQIRUPDWLH 3HULRGLHN RQGHUKRXG $DQEHYROHQ YORHLVWRIIHQ VPHHUPLGGHOHQ HQ RQGHUGHOHQ +HW LV YRRU GH EHGULMIV HQ YHUNHHUVಢ YHLOLJKHLG HQ YRRU KHW EHKRXG YDQ GH ZDDUGH YDQ XZ DXWR EHODQJULMN GDW DOOH VHUYLFHZHUN]DDPKHGHQ PHW GH YRRUJHVFKUHYHQ LQWHUYDOOHQ ZRUGHQ XLWJHYRHUG 5HJLVWUDWLHV %HYHVWLJLQJ YDQ KHW RQGHUKRXG ZRUGW LQ GH 6HUYLFHKDQGOHLGLQJ JHQRWHHUG 'H GDWX
6HUYLFH HQ RQGHUKRXG 3HULRGLHN RQGHUKRXG 6HUYLFHVFKHPD V 2QGHUKRXGVLQWHUYDO NHHU SHU MDDU NP ZDW KHW HHUVW ZRUGW EHUHLNW 2QGHUKRXG , JHEUXLN 2QGHUKRXG , YRRU GH HHUVWH RQGHUKRXGVEHXUW RI DOV 2QGHUKRXG ,, HHUGHU ZHUG XLWJHYRHUG 2QGHUKRXG ,, JHEUXLN 2QGHUKRXG ,, DOV GH YRULJH RQGHUKRXGVEHXUW GLH ZHUG XLWJHYRHUG 2QGHUKRXG , ZDV 1U 2QGHUKRXGVZHUN]DDPKHLG 2QGHUKRXG , 2QGHUKRXG ,, 9HUYDQJ PRWRUROLH HQ ILOWHU 5 5 &RQWUROHHU RS OHNNHQ RI EHVFKDGLJLQJ , , &RQWUROHHU PRWRUOXFKWI
6HUYLFH HQ RQGHUKRXG 1U 2QGHUKRXGVZHUN]DDPKHLG 2QGHUKRXG , 2QGHUKRXG ,, 2QGHUKRXG YRHU DOOH VHUYLFHV XLW GLH EHVFKUHYHQ VWDDQ LQ 2QGHUKRXG SOXV KHW YROJHQGH 9HUYDQJ GH UHPYORHLVWRI 5 &RQWUROHHU KHW PRWRUNRHOV\VWHHP , &RQWUROHHU GH RQGHUGHOHQ YDQ KHW EHYHLOLJLQJVV\VWHHP , ,QVSHFWHHU GH DDQGULMYLQJ HQ DDQGULMIRQGHUGHOHQ , 6PHHU GH FDUURVVHULH RQGHUGHOHQ , , &RQWUROHHU GH]H LWHPV HQ KXQ YHUZDQWH RQGHUGHOHQ &RUULJHHU UHLQLJ YXO ELM SDV DDQ RI YHUYDQJ LQGLHQ QRGLJ
6HUYLFH HQ RQGHUKRXG 1U 2PVFKULMYLQJ $YHR &RQWUROHHU GH NOHSVSHOLQJ SDV DDQ LQGLHQ QRGLJ (ONH NP MDDU 9HUYDQJ GH GLVWULEXWLHNHWWLQJ 9HUYDQJ GLVWULEXWLHULHP %UDQGVWRIILOWHU YHUYDQJHQ 2QGHUKRXGVYULM (ONH NP MDDU 'LHVHO (ONH NP MDDU
6HUYLFH HQ RQGHUKRXG 9RHWQRWHQ 2QGHUKRXGVSXQW 2SPHUNLQJ %LM ULMGHQ RQGHU UXZH RPVWDQGLJKHGHQ NRUWH DIVWDQGVULWWHQ EXLWHQVSRULJ YULMORSHQ RI ULMGHQ LQ VWRIILJH RPVWDQGLJKHGHQ LV KHW PRJHOLMN GDW GH PRWRUROLH HQ ILOWHU YDNHU PRHWHQ ZRUGHQ YHUYDQJHQ 9ORHLVWRIYHUOLHV LQ HON YRHUWXLJV\VWHHP NDQ RS HHQ SUREOHHP GXLGHQ +HW V\VWHHP PRHW ZRUGHQ JHFRQWUROHHUG HQ JHUHSDUHHUG HQ KHW YORHLVWRISHLO JHFRQWUROHHUG 9RHJ ]R QRGLJ YORHLVWRI WRH :DQQHHU HU UHJHOPDWLJ RQGHU VWRIILJH RPVWDQGLJKHGHQ Z
6HUYLFH HQ RQGHUKRXG 2QGHUKRXGVSXQW 2SPHUNLQJ &RQWUROHHU GH VODQJHQ YLVXHHO HQ ODDW ]H YHUYDQJHQ ZDQQHHU ]H JHEDUVWHQ RSJH]ZROOHQ RI LQ VOHFKWH WRHVWDQG ]LMQ &RQWUROHHU DOOH OHLGLQJHQ DDQVOXLWLQJHQ HQ NOHPPHQ ZDDU QRGLJ YHUYDQJHQ GRRU RULJLQHOH RQGHUGHOHQ 2P YRRU HHQ FRUUHFWH ZHUNLQJ WH ]RUJHQ ZRUGW HHQ GUXNWHVW YDQ KHW NRHOV\VWHHP HQ GH GUXNGRS HQ KHW UHLQLJHQ YDQ GH UDGLDWRU HQ GH DLUFRFRQಢ GHQVRU JHDGYLVHHUG =RUJ HUYRRU GDW KHW ODPSMH YDQ GH JRUGHOYHUNOLNNHU HQ GH YHLOLJKHLGVJRUGH
6HUYLFH HQ RQGHUKRXG 2QGHUKRXGVSXQW 2SPHUNLQJ $OJHPHHQ YRRU DOOH &RQWUROHHU DOOH V\VWHPHQ RS LQWHUIHUHQWLH RI YHUEXLJLQJ HQ RS EHVFKDGLJGH RI RQWEUHNHQGH RQGHUGHOHQ 9HUYDQJ GH RQGHUGHOHQ LQGLHQ QRGLJ 9HUYDQJ HON RQGHUGHHO GDW RYHUPDWLJH VOLMWDJH YHUWRRQW %DQGHQWRHVWDQG HQ EDQಢ GHQVSDQQLQJ 'H FRQGLWLH YDQ GH EDQGHQ PRHW ZRUGHQ JHFRQWUROHHUG YRRUGDW X JDDW ULMGHQ HQ EDQGHQಢ VSDQQLQJ PRHW HONH NHHU ZRUGHQ JHFRQWUROHHUG ZDQQHHU X WDQNW RI WHQPLQVWH HHQPDDO SHU PDDQG PHW EHKXOS YDQ HHQ EDQGHQVSDQQL
6HUYLFH HQ RQGHUKRXG $DQYXOOHQG RQGHUKRXG =ZDUH EHGULMIVRPVWDQGLJKHGHQ *HEUXLNVRPVWDQGLJKHGHQ ZRUGHQ DOV ]ZDDU EHVFKRXZG ZDQQHHU X YDDN WH PDNHQ NULMJW PHW HHQ RI PHHU YDQ GH RQGHUVWDDQGH ]DNHQ +HUKDDOG ULMGHQ YDQ NRUWH DIVWDQಢ GHQ YDQ PLQGHU GDQ NP 9HHOYXOGLJ VWDWLRQDLU GUDDLHQ YHHOಢ YXOGLJ ULMGHQ PHW ODJH VQHOKHGHQ LQ GUXN YHUNHHU 5LMGHQ RS VWRIILJH ZHJHQ 5LMGHQ LQ EHUJDFKWLJH JHELHGHQ +HW WUHNNHQ YDQ HHQ DDQKDQJHU 5LMGHQ LQ GUXN VWDGVYHUNHHU ZDDU GH EXLWHQWHPSHUDWXXU UHJHOPDWL
6HUYLFH HQ RQGHUKRXG 0RWRUROLH 0RWRUROLH ZRUGW LQJHGHHOG RS EDVLV YDQ NZDOLWHLW HQ YLVFRVLWHLW %LM GH NHX]H YDQ PRWRUROLH LV NZDOLWHLW EHಢ ODQJULMNHU GDQ YLVFRVLWHLW 'RRU GH ROLHNZDOLWHLW EOLMIW R D GH PRWRU VFKRRQ LV GH VOLMWDJH PLQLPDDO HQ YHURXGHUW GH ROLH PLQGHU VQHO 'H YLVಢ FRVLWHLW JHHIW LQIRUPDWLH RYHU GH GLNWH YDQ GH ROLH ELM GLYHUVH WHPSHUDWXUHQ 0RWRUROLHNZDOLWHLW 'H[RV 70 6HOHFWHUHQ YDQ GH MXLVWH PRWRUROLH 6HOHFWHUHQ YDQ GH MXLVWH PRWRUROLH LV DIKDQNHOLMN YDQ GH MXLVWH ROLHVSHFLILಢ FDWLHV
6HUYLFH HQ RQGHUKRXG 0XOWLJUDGH ROLH ZRUGW DDQJHGXLG PHW WZHH JHWDOOHQ +HW HHUVWH JHWDO JHYROJG GRRU HHQ : JHHIW GH YLVFRVLWHLW DDQ ELM ODJH WHPಢ SHUDWXXU HQ KHW WZHHGH JHWDO GH YLVಢ FRVLWHLW ELM KRJH WHPSHUDWXXU GH PRWRU ELM H[WUHHP ODJH WHPSHUDWXಢ UHQ =RUJ HU ELM GH NHX]H YRRU HHQ ROLH PHW GH MXLVWH YLVFRVLWHLWVJUDDG DOWLMG YRRU GDW GH]H YROGRHW DDQ GH GHಢ [RV70 VSHFLILFDWLH 7RW HQ PHW ¡& : : 7RW ¡& HQ ODJHU : : .
6HUYLFH HQ RQGHUKRXG %HKDOYH ELM EHQ]LQHPRWRU JHEUXLN DOOHHQ &DVWURO %27 YORHLVWRI $7) ROLH *HEUXLN XLWVOXLWHQG 'H[URQ 9, YORHLಢ VWRI
7HFKQLVFKH JHJHYHQV 7HFKQLVFKH JHJHYHQV 9RHUWXLJLGHQWLILFDWLH $XWRJHJHYHQV 9RHUWXLJLGHQWLILFDWLH 7\SHSODDWMH 9RHUWXLJLGHQWLILFDWLHQXPಢ PHU +HW W\SHSODDWMH LV DDQJHEUDFKW RS KHW VOXLWYODN YDQ KHW EHVWXXUGHUVSRUWLHU +HW YRHUWXLJLGHQWLILFDWLHQXPPHU 9,1 LV JHJUDYHHUG RS KHW PLGGHQ YDQ GH EUDQGZHUHQGH SODDW
7HFKQLVFKH JHJHYHQV $XWRJHJHYHQV 0RWRUJHJHYHQV 9HUNRRSDDQGXLGLQJ 0RWRUDDQGXLGLQJ ' ' (&2 /'& ' 'HWXQHG /:' ' /'' ' /'( $DQWDO FLOLQGHUV &LOLQGHULQKRXG >FP @ 0RWRUYHUPRJHQ >N:@ ELM PLQ .
7HFKQLVFKH JHJHYHQV 9HUNRRSDDQGXLGLQJ 0RWRUDDQGXLGLQJ )*7 /'9 9*7 /6) 9*7 (&2 /6) ELM PLQ .
7HFKQLVFKH JHJHYHQV %UDQGVWRIYHUEUXLN &2 XLWVWRRW %HQ]LQHPRWRU +DWFKEDFN! 0RWRU 6WXXUZLHO ' 07 ' ' 07 ' (&2 07 '(781(' 07 ' 07 ' $7 ' 07 ' $7 (OHNWULVFKH VWXXUEHNUDFKWLJLQJ +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ VWDGVYHUNHHU >O NP@ EXLWHQZHJ >O NP@ WRWDDO >O NP@ &2 >J NP@ 1RWFKEDFN! 0RWRU 6WXXUZLHO ' 07
7HFKQLVFKH JHJHYHQV 'LHVHOPRWRU 0RWRU 7\SH DXWR )*7 +DWFKEDFN 1RWFKEDFN 9*7 +DWFKEDFN 1RWFKEDFN 9*7 (&2 +DWFKEDFN VWDGVYHUNHHU >O NP@ EXLWHQZHJ >O NP@ WRWDDO >O NP@ &2 >J NP@ 9RHUWXLJJHZLFKW 0LQLPDDO OHHJJHZLFKW PHW EHVWXXUGHU NJ %HQ]LQHPRWRU 0RWRU 6WXXUZLHO ' 07 (OHNWULVFKH VWXXUEHNUDFKWLJLQJ +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' (&2 07 (OHNWULVFKH VWXXUEHN
7HFKQLVFKH JHJHYHQV 0RWRU 6WXXUZLHO +DWFKEDFN QRWFKEDFN >NJ@ ' 07 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' $7 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ 'LHVHOPRWRU 0RWRU 7\SH DXWR >NJ@ )*7 07 +DWFKEDFN 1RWFKEDFN 9*7 07 +DWFKEDFN 1RWFKEDFN +DWFKEDFN 9*7 (&2 07 0D[LPDDO OHHJJHZLFKW PHW EHVWXXUGHU NJ %HQ]LQHPRWRU 0RWRU 6WXXUZLHO ' 07 (OHNWULVFKH VWXXUEHNUDFKWLJLQJ +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ +DWFKEDFN QRWFKEDFN >
7HFKQLVFKH JHJHYHQV 0RWRU 6WXXUZLHO +DWFKEDFN QRWFKEDFN >NJ@ ' $7 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' 07 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' $7 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ 'LHVHOPRWRU 0RWRU 7\SH DXWR >NJ@ )*7 07 +DWFKEDFN 1RWFKEDFN 9*7 07 +DWFKEDFN 1RWFKEDFN 9*7 (&2 07 +DWFKEDFN 0D[LPDDO WRHJHVWDQH PDVVD %HQ]LQHPRWRU 0RWRU 6WXXUZLHO ' 07 (OHNWULVFKH VWXXUEHNUDFKWLJLQJ +\GUDXOLVFK
7HFKQLVFKH JHJHYHQV 0RWRU 6WXXUZLHO +DWFKEDFN QRWFKEDFN >NJ@ ' 07 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' $7 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' 07 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ ' $7 +\GUDXOLVFKH VWXXUEHNUDFKWLJLQJ 'LHVHOPRWRU 0RWRU 7\SH DXWR +DWFKEDFN QRWFKEDFN >NJ@ )*7 07 +DWFKEDFN 1RWFKEDFN +DWFKEDFN 1RWFKEDFN +DWFKEDFN 9*7 07 9*7 (&2 07 $IPHWLQJHQ DXWR +DWFKEDFN 1RWFKEDFN /HQJ
7HFKQLVFKH JHJHYHQV +DWFKEDFN 1RWFKEDFN %UHHGWH EDJDJHUXLPWH >PP@ +RRJWH EDJDJHUXLPWH >PP@ :LHOEDVLV >PP@ 'LDPHWHU GUDDLFLUNHO >P@ ,QKRXGHQ 0RWRUROLH 0RWRU %(1=,1( ',(6(/ 9*7 ' ' ' )*7 LQFOXVLHI ILOWHU >O@ WXVVHQ 0,1 HQ 0$; >O@ %UDQGVWRIWDQN 1RPLQDOH LQKRXG >O@
7HFKQLVFKH JHJHYHQV %DQGHQVSDQQLQJVZDDUGHQ %DQGHQ 9RRU >N3D EDU@ >SVL@ a SHUVRQHQ &203257 (&2 a SHUVRQHQ *9: $FKWHU >N3D EDU@ >SVL@ a SHUVRQHQ &203257 (&2 a SHUVRQHQ *9: 5 5 5 5
.ODQWLQIRUPDWLH .
.ODQWLQIRUPDWLH 'H IDEULNDQW NDQ GH YHU]DPHOGH RI RQWYDQJHQ GLDJQRVHGDWD ERYHQGLHQ JHEUXLNHQ WHQ EHKRHYH YDQ RQGHU]RHN GDW GH IDEULNDQW YHUULFKW EHVFKLNEDDU VWHOOHQ WHQ EHKRHYH YDQ RQGHU]RHN PLWV GH YHUHLVWH YHUWURXZHOLMNKHLG JHZDDUERUJG EOLMIW HQ GH QRRG]DDN YDQ GHUJHOLMN RQGHU]RHN LV DDQJHWRRQG GH DOJHPHQH GDWD GLH QLHW DDQ HHQ VSHFLILHNH DXWR ]LMQ JHNRSSHOG GHಢ OHQ PHW DQGHUH RUJDQLVDWLHV YRRU RQGHU]RHNVGRHOHLQGHQ 5DGLRIUHTXHQWLH LGHQWLILFDWLH 5),' 5),' WHFKQRORJLH ZRUGW LQ VRPPLJH DXWR V JH
7UHIZRRUGHQOLMVW $ $DQEHYROHQ YORHLVWRIIHQ HQ VPHHUPLGGHOHQ $DQGXLGLQJHQ RS EDQGHQ $DQVWHNHU $DQYXOOHQG RQGHUKRXG $FFHVVRLUHV HQ PRGLILFDWLHV YDQ DXWR $FFX $FKWHUOLFKWHQ $FKWHUUXLWYHUZDUPLQJ $FKWHUXLWULMOLFKWHQ $IPHWLQJHQ DXWR
& ) , &G VSHOHU &HQWUDOH YHUJUHQGHOLQJ &OD[RQ &RQWDFWVORWVWDQGHQ &RQWUROHODPSHQ &RQWUROH RYHU GH DXWR &UXLVH FRQWURO )URQWDDO DLUEDJV\VWHHP ,QERXZSRVLWLHV NLQGHUYHLOLJಢ KHLGVV\VWHPHQ ,QKRXGHQ ,QNODSEDUH E
/LFKWVLJQDDO /XFKWLQODDW 0 0LVWDFKWHUOLFKW 0LVWDFKWHUOLFKWHQ 0LVWODPS 0LVWODPSHQ YRRU 0RWRUJHJHYHQV 0RWRUNDS 0RWRUOXFKWILOWHU 0RWRUROLH 0RWRUROLHGUXN
7ULSFRPSXWHU 7\SHSODDWMH 8 8LWODDWJDVVHQ 8LWVWDSYHUOLFKWLQJ 8OWUDVRRQSDUNHHUKXOS 9 9DQ EDQGHQ HQ YHOJPDDW YHUDQGHUHQ 9DVWH DQWHQQHVWDDI 9DVWH OXFKWURRVWHUV 9HLOLJKHLGVJRUGHO 9HLOLJKHLGVJRUGHOV 9HQWLODWLH