P[ +R77 LW P[ 0DQXDOH GL SURJUDPPD]LRQH 0
,QGLFH ,QIRUPD]LRQL JHQHUDOL ,QGLFH 3URWH]LRQH GHOO DPELHQWH 1RWH SHU OD VLFXUH]]D 1RWH SHU OD VLFXUH]]D QHO WUDWWDPHQWR GHOOH EDWWHULH 1L0+ ,QWURGX]LRQH 'HVFUL]LRQH GHO UDGLRFRPDQGR
,PSRVWD]LRQH IDVL 0RGHOOL GL DHUHR 0RGHOOL GL HOLFRWWHUR $WWULEX]LRQH IDVL 7ULP IDVL &DQDOL QRQ ULWDUGDWL 7LPHUV JHQHUDOL WHPSRUL]]DWRUL 7LPHUV IDVL
1RWH SHU OD VLFXUH]]D 6L SUHJD GL OHJJHUH DWWHQWDPHQWH 1RL WXWWL YRJOLDPR FKH YRL DEELDWH PROWH RUH GL GLYHUWL PHQWR QHO QRVWUR KREE\ GHO PRGHOOLVPR H OD VLFXUH]]D q XQ IDWWRUH LPSRUWDQWH SHU RWWHQHUH FLz Ê PROWR LPSRU WDQWH FKH YRL OHJJLDWH DWWHQWDPHQWH TXHVWR PDQXDOH H WHQLDWH QHOOD GHELWD FRQVLGHUD]LRQH OH QRVWUH UDFFR PDQGD]LRQL ULJXDUGR DOOD VLFXUH]]D 9L UDFFRPDQGLDPR DQFKH GL UHJLVWUDUYL VXELWR VX KWWS ZZZ JUDXSQHU GH HQ VHUYLFH SURGXFWBUHJLVWUDWLRQ SHU HVVHUH FHUWL GL ULFHYH UH VHPSUH
QR GD TXDOVLDVL LQVWDOOD]LRQH D ERUGR GHO PRGHOOR PD LQ XQD SRVL]LRQH IDFLOPHQWH DFFHVVLELOH ,Q QHVVXQ FDVR L FDYHWWL GHL VHUYL GHYRQR VWDUH YLFLQL DOOµDQWHQQD H WDQWR PHQR HVVHUH DUURWRODWL LQWRUQR DG HVVD %LVRJQD ¿VVDUH DFFXUDWDPHQWH L YDUL FDEODJJL LQ PRGR FKH QRQ VL SRVVDQR DYYLFLQDUH DOOµDQWHQQD GXUDQWH LO YROR 6LVWHPD]LRQH GHOOD R GHOOH DQWHQQH ULFHYHQWL ,O ULFHYLWRUH H OH VXH DQWHQQH GHYH HVVHUH VLVWHPDWR LO SL ORQWDQR SRVVLELOH GD RJQL WLSR GL DSSDUHFFKLR DOLPHQ WDWR 6H LO YRVWUR PRG
1RWH SHU OD VLFXUH]]D &RQWUROOR GHOOH EDWWHULH GL WUDVPHWWLWRUH H ULFHYLWRUH %LVRJQD VPHWWHUH GL XWLOL]]DUH LO UDGLRFRPDQGR H ULFDULFDUH OH EDWWHULH SULPD FKH VLDQR FRPSOHWDPHQWH VFDULFKH 1HO FDVR GHO WUDVPHWWLWRUH VLJQL¿FD LQ XOWLPR TXDQGR VXO GLVSOD\ FRPSDUH LO PHVVDJJLR ³OD EDWWHULD GHYH HVVHUH ULFDULFDWD´ R TXDOFRVD GL VLPLOH H VL VHQWH XQ DOODUPH VRQRUR Ê GL YLWDOH LPSRUWDQ]D FRQWUROODUH SHULRGLFDPHQWH OR VWDWR GL FDULFD GHOOH EDWWHULH LQ SDUWLFRODUH TXHOOH GHO ULFHYLWRUH 4XDQGR OD EDWWH
IXQ]LRQDPHQWR JHQHUDOH H GL SRUWDWD %LVRJQD HYLWDUH GL XVDUH LO UDGLRFRPDQGR ¿QFKp OD VXH FDUDWWHULVWLFKH GL HPLVVLRQH QRQ VRQR VWDWH DGHJXDWH D TXHOOH GHO 3DHVH LQ FXL OR VL XVD 4XHVWR q LPSRUWDQWH SHU ULVSHWWDUH OH YDULH GLUHWWLYH )&& (76, &( HFF 3HU L GHWWDJOL VL SUHJD GL IDUH ULIHUL PHQWR DOOH VSHFL¿FKH LVWUX]LRQL GHOO¶DSSDUDWR LQ XVR 3ULPD GL RJQL YROR q QHFHVVDULR FRQWUROODUH WXWWH OH IXQ]LRQL H YHUL¿FDUH OD SRUWDWD SHU HYLGHQ]LDUH HYHQWXDOL SUREOHPL DO VLVWHPD HG HUURUL QHOOD S
1RWH VXOOD VLFXUH]]D H O¶XVR FRUUHWWR GHOOH EDWWHULH ULFDULFDELOL 1L 0+ &RPH SHU WXWWL L SURGRWWL WHFQLFL VR¿VWLFDWL q LPSRUWDQWH RVVHUYDUH OH QRWH VHJXHQWL ULJXDUGR DOOD VLFXUH]]D H DOOµXWLOL]]R VH VL YXROH XWLOL]]DUH LO SURGRWWR FRUUHWWDPHQWH H SHU OXQJR WHPSR 1RWH SHU OD VLFXUH]]D 6LD OH VLQJROH FHOOH FKH OH EDWWHULH FRPSOHWH QRQ VRQR JLRFDWWROL H TXLQGL YDQQR WHQXWH LQ OXRJKL QRQ DFFHV VLELOL DL EDPELQL 9HUL¿FDUH VHPSUH FKH OH EDWWHULH VLDQR LQ SHUIHWWH FRQGL]LRQL GµXVR 1RQ ULXWLOL]]DUH
SRVVD LPSRVWDUH DFFXUDWDPHQWH OD FRUUHQWH GL FDULFD DOORUD ELVRJQD ULFRUUHUH DOOD FDULFD QRUPDOH´ FRPH YLVWR SULPD 6H SRVVLELOH VL UDFFRPDQGD GL FDULFDUH VHPSUH OD EDWWHULD GHO WUDVPHWWLWRUH FRQ XQD FRUUHQWH & SHU PDQWHQHUH OH FHOOH ELODQFLDWH /D FRUUHQWH GL FDULFD QRQ GHYH VXSHUDUH TXHOOD PDVVLPD LQGLFDWD QHOOH LVWUX]LRQL GHO WUDVPHWWLWRUH &DULFD UDSLGD 6H LO YRVWUR FDULFDEDWWHULH OR SHUPHWWH LPSRVWDUH LO YDORUH GHO 'HOWD 3HDN VX P9 SHU FHOOD 3HUz PROWL FDULFDEDWWHULH KDQQR TXHVWR
P[ 5DGLRFRPDQGR FRQ WHFQRORJLD GL XOWLPD JHQHUD]LRQH ,O VLVWHPD +R77 +RSSLQJ 7HOHPHWU\ 7UDQVPLVVLRQ WUDVPLVVLRQH GL WHOHPHWULD FRQ VFDQVLRQH GL IUHTXHQ]D q OD VLQWHVL GL FRPSHWHQ]D WHFQRORJLD H SURYH IDWWH GD SLORWL SURIHVVLRQLVWL LQ WXWWR LO PRQGR /µDSSDUDWR RSHUD VXOOD IUHTXHQ]D GHL *+] H FRQVHQWH XQ FROOHJDPHQ WR ELGLUH]LRQDOH IUD WUDVPHWWLWRUH H ULFHYLWRUH SHU OµLQYLR D WHUUD GL GDWL WHOHPHWULFL ,O VLVWHPD 5& P[ +R77 q EDVDWR VXOOD UDGLR FRPSXWHUL]]DWD *UDXSQHU -5 PF LQWUR
&RPSXWHU 6\VWHP P[ 5DGLRFRPDQGR FRPSXWHUL]]DWR D FDQDOL FRQ WHFQRORJLD *UDXSQHU +R77 *+] +RSSLQJ 7HOHPHWU\ 7UDQVPLVVLRQ /D WHFQRORJLD *UDXSQHU +R77 SHUPHWWH XQ XWLOL]]R HVWUHPDPHQWH DIÀGDELOH FRQ FRPXQLFD]LRQL ELGL UH]LRQDOL IUD WUDVPHWWLWRUH H ULFHYLWRUH WHOHPHWULD LQWHJUDWD XVFLWD YRFDOH WUDPLWH FRQQHWWRUH SHU FXIÀD H WHPSL GL ULVSRVWD XOWUD UDSLGL 7HFQRORJLD GL SURJUDPPD]LRQH VHPSOLÀFDWD FRQ SXOVDQWL FDSDFLWLYL VHQVLELOL DO WRFFR 'LVSOD\ JUDÀFR FRQ OLQHH DG DOWR FRQWUDVWR H UH W
&RPSXWHU 6\VWHP P[ 5DGLRFRPDQGR FRPSXWHUL]]DWR D FDQDOL FRQ WHFQRORJLD *UDXSQHU +R77 *+] PRGL¿FKH DFFLGHQWDOL DOOD SURJUDPPD]LRQH IDVL GL YROR SURJUDPPDELOL 0HPRULH SHU PRGHOOL FRQ SRVVLELOLWj GL PHPRUL]]D ]LRQH GL WXWWL L SDUDPHWUL 6HWWH LQWHUUXWWRUL D GLVSR]LRQH GXH D YLH WUH D YLH H GXH FRQ ULWRUQR DXWRPDWLFR 7UH FRQWUROOL GLJLWDOL URWDWLYL JLj LQVWDOODWL H PROWR YHUVDWLOL *OL LQWHUUXWWRUL VRQR OLEHUDPHQWH H IDFLOPHQWH DVVH JQDELOL DJHQGR VHPSOLFHPHQWH VX TX
&RQWHQXWR GHO VHW &RG 1R 7UDVPHWWLWRUH FRPSXWHUL]]DWR P[ +R77 FRQ EDWWHULD 1L0+ 1+ 5; 578 FDUDWWHULVWLFKH FRQ ULVHUYD GL PRGL¿FD ULFHYLWRUH ELGLUH]LRQDOH *UDXSQHU *5 +R77 &DULFDEDWWHULH RS]LRQDOL FRQVLJOLDWL &RG 1R 'HVFUL]LRQH 8OWUDPDW 8OWUDPDW SOXV 8OWUDPDW SOXV 8OWUD 7ULR SOXV 8OWUDPDW 6 8OWUD 7ULR 3OXV 8OWUDPDW 8OWUD 'XR 3OXV 8OWUD 'XR 3OXV 8OWUD 'XR 3OXV $OLPHQW $& 9 $OLPHQW '& 9 1L&G
1RWH RSHUDWLYH $OLPHQWD]LRQH GHO WUDVPHWWLWRUH ,O WUDVPHWWLWRUH P[ +R77 YLHQH IRUQLWR FRQ XQD EDWWHULD 1L0+ ULFDULFDELOH DG DOWD FDSDFLWj 1+ 5; 578 FRG 1R )%(& LO WLSR SRWUHEEH FDPELDUH $OOD FRQVHJQD OD EDWWHULD QRQ q FDULFD 0HQWUH VL XVD LO WUDVPHWWLWRUH VL SXz YHGHUH OD WHQVLRQH GHOOD EDWWHULD VXO GLVSOD\ /&' 6H OD WHQVLRQH VFHQGH VRWWR D XQ FHUWR SXQWR GL GHIDXOW q 9 GH¿QLELOH QHOOD OLQHD ³$YYLVR EDWWHULD´ GHO PHQX ³,PSRVWD] EDVH 7[´ D SDJ VL XGUj XQ DYYLVR VRQ
7LPHU GHOOD EDWWHULD DQJROR LQIHULRUH VLQLVWUR GHO GLVSOD\ 4XHVWR WLPHU PRVWUD LO WHPSR RSHUDWLYR WRWDOH GHO WUDVPHWWLWRUH GDO PRPHQWR LQ FXL q VWDWD FDULFDWD OµXOWLPD YROWD OD EDWWHULD 4XHVWR WLPHU YLHQH DXWRPDWLFDPHQWH SRUWDWR D ]HUR ´ ³ TXDQGR LO WUDVPHWWLWRUH ULOHYD FKH OD WHQVLRQH GHOOD VXD EDWWHULD q VLJQL¿FDWLYDPHQWH SL DOWD GHOOµXOWLPD YROWD FKH q VWDWR DFFHVR H TXLQGL VLJQL¿FD FKH OD EDWWHULD q VWDWD FDULFDWD *5$8%(/( 9 K &URQ 9ROR ©QRUPDO ª .
1RWH RSHUDWLYH $OLPHQWD]LRQH GHO ULFHYLWRUH 8QD YDVWD JDPPD GL EDWWHULH 1L0+ D R FHOOH FRQ YDULH FDSDFLWj q GLVSRQLELOH SHU DOLPHQWDUH LO ULFHYLWRUH 6H VL XVDQR VHUYL GLJLWDOL UDFFRPDQGLDPR GL XVDUH XQD EDWWHULD GD FHOOH 9 GL EXRQD FDSDFLWj 6H LO PRGHOOR XVD VHUYL DQDORJLFL H GLJLWDOL LQVLHPH ELVRJQD YHUL¿FDUH EHQH OD PDVVLPD WHQVLRQH RSHUDWLYD GL FLDVFXQR /¶XQLWj 35; FRG 1 IRUQLVFH DO ULFHYLWRUH XQD WHQVLRQH VWDELOL]]DWD D SDUWLUH GD XQD R GXH EDWWHULH ULFHYHQWL YHGL O¶$SSHQ
5HJROD]LRQH OXQJKH]]D VWLFN /D OXQJKH]]D GHJOL VWLFNV q DPSLDPHQWH UHJRODELOH SHU SRWHU VRGGLVIDUH WXWWH OH HVLJHQ]H GL SHUVRQDOL]]D]LRQH 7HQHQGR IHUPD OD SDUWH LQIHULRUH GHO SRPPHOOR ]LJULQDWR DOOHQWDUH OD SDUWH VXSHULRUH $SULUH LO FRQWHQLWRUH GHO WUDVPHWWLWRUH 3ULPD GL DSULUH LO WUDVPHWWLWRUH YL SUHJKLDPR GL OHJJHUH DWWHQWDPHQWH OH QRWH VHJXHQWL 6H QRQ DYHWH HVSHULHQ ]D LQ TXHVWR FDPSR YL UDFFRPDQGLDPR GL ULYROJHUYL DO VHUYL]LR DVVLVWHQ]D *UDXSQHU FKH SRWUj HVHJXLUH LO ODYRUR SHU YRL ,O WU
1RWH RSHUDWLYH &RQYHUVLRQH GHJOL VWLFN $]LRQH DXWRFHQWUDQWH , GXH VWLFN VL SRVVRQR FRQYHUWLUH GD DXWRFHQWUDQWL D QRQ DXWRFHQWUDQWL 6L LQL]LD DSUHQGR LO WUDVPHWWLWRUH FRPH GHVFULWWR QHOOD SDJLQD SUHFHGHQWH 3HU PRGL¿FDUH OR VWDWR GHOOR VWLFN SHU SULPD FRVD ELVRJQD FHUFDUH OD YLWH FHUFKLDWD GL ELDQFR YHGL IRWR TXL VRWWR VXOOR VWLFN GL VLQLVWUD $QWHQQD ULSLHJDELOH 9LWL SHU OD UHJROD]LRQH GHOOH PROOH GL ULFKLDPR 9LWH SHU OµDXWRFHQWUDJJLR GHOOR VWLFN 1RWD 6XOOR VWLFN GL GHVWUD OD GLVSRVL]LRQH q VSH
0ROOD GL IUHQDJJLR H FULFFKHWWR 6L SXz YDULDUH OD IRU]D GL IUHQDJJLR VXO PRYLPHQWR GHOOR VWLFN UHJRODQGR OD YLWH SL HVWHUQD GHOOH GXH HQWUR LO FLUFROR ELDQFR YHGL ¿JXUD TXL VRWWR UHJRODQGR OD YLWH SL LQWHUQD VL YDULD OD IRU]D GHO FULFFKHWWR )RU]D GL ULWRUQR DO FHQWUR /D IRU]D GL ULFKLDPR GHOOR VWLFN DO FHQWUR q YDULDELOH SHU DGDWWDUOD DOOH VLQJROH HVLJHQ]H ,O VLVWHPD GL UHJROD]LRQH q SRVL]LRQDWR YLFLQR DOOH PROOH HG q LQGLFDWR GDO FLUFROR ELDQFR QHOOD IRWR VHJXHQWH 3HU UHJRODUH OD IRU]D GL
'HVFUL]LRQH GHO WUDVPHWWLWRUH &RQWUROOL GHO WUDVPHWWLWRUH )LVVDJJLR GHOOD FLQJKLD GL VXSSRUWR $O FHQWUR GHOOD SDUWH IURQWDOH GHO WUDVPHWWLWRUH P[ +R77 VL WURYD XQ RFFKLHOOR D FXL VL SXz DSSHQGHUH OD FLQJKLD /D SRVL]LRQH q WDOH SHU FXL LO WUDVPHWWLWRUH UHVWD SHUIHWWDPHQWH ELODQFLDWR &RG 1U &LQJKLD ODUJD PP &RG 1U &LQJKLD ODUJD PP /(' LQGLFDWRUH GL VWDWR $QWHQQD ULSLHJDELOH EDVH URWDQWH &RQWUROOR URWDWLYR SURSRU]LRQDOH &75/ &RQWUROOR URWDWLYR SURSRU]LRQDOH &75/ 0DQLJO
/DWR SRVWHULRUH GHO WUDVPHWWLWRUH 9LWH FRQWHQLWRUH 9LWH FRQWHQLWRUH &RQQHWWRUH SHU O DXULFRODUH FXI¿D &RQQHWWRUH SHU OR 6PDUW %R[ &RG 1U &RQQHWWRUH '6& SHU FRO OHJDUH L VLPXODWRUL GL YROR H H L VLVWHPL PDHVWUR DOOLHYR &RQQHWWRUH PLQL 86% SHU FROOHJDUH LO WUDVPHW WLWRUH DG XQ FRPSXWHU 9LWH FRQWHQLWRUH 9LWH FRQWHQLWRUH &RQQHWWRUH PLQL 86% 4XHVWR FRQQHWWRUH VL SXz XVDUH SHU FROOHJDUH LO WUDVPHW WLWRUH DG XQ FRPSXWHU FRQ VLVWHPD RSHUDWLYR :LQGRZV ;3 9LVWD R ,O VRIWZDUH QHFHVVDULR L
'6& 0HPRUL]]D]LRQH GDWL &RQWUROOR GLUHWWR GHL VHUYL /D IXQ]LRQH RULJLQDOH GL TXHVWR FRQQHWWRUH HUD SHU FRQWUROODUH GLUHWWDPHQWH L VHUYL VHQ]D HPHWWHUH 5) HG q SHU TXHVWR FKH q ULPDVWD OD GHQRPLQD]LRQH 3HUz SHU PRWLYL WHFQLFL LO FRQWUROOR GLUHWWR GHL VHUYL XVDQGR LO FDYR DSSRVLWR QRQ q SL SRVVLELOH FRQ LO VLVWHPD +R77 6XO WUDVPHWWLWRUH P[ +R77 LO FDYR '6& ELSRODUH VL XVD SHU LO VLVWHPD 0DHVWUR $OOLHYR H SHU O LQWHUIDFFLD GHL VLPXODWRUL GL YROR 3HU UHQGHUH RSHUDWLYD OD FRQQHVVLRQH '6& ELVRJ
1RWD 6H FL IRVVH XQD VFKHGD 6' LQVWDOODWD ELVRJQD WRJOLHUOD SULPD GL VPRQWDUH OD SDUWH SRVWHULRUH GHO FRQWHQLWRUH DOWULPHQWL FL VDUHEEH LO ULVFKLR GL GDQQHJJLDUOD 5HJLVWUD]LRQH GHL GDWL PHPRUL]]D]LRQH /D PHPRUL]]D]LRQH GHL GDWL q DEELQDWD DO WLPHU GL YROR VH LO WLPHU q DYYLDWR LQL]LD DQFKH LO VDOYDWDJJLR GHL GDWL D SDWWR FKH XQD 6' FDUG DGDWWD VLD LQVHULWD QHOOD VXD VHGH H FKH FL VLD XQD FRQQHVVLRQH FRQ OD WHOHPHWULD GHO ULFHYL WRUH 4XDQGR LO WLPHU VL IHUPD DQFKH OD UHJLVWUD]LRQH GHL GDWL FHVV
6FKHUPR H WDVWL 9LVXDOL]]DL]RQH JUD¿FD GHOOD SRVL]LRQH GHL WULP H DOWHUQDWLYD PHQWH GL &75/ VH VRQR RSHUDWLYL 6LPEROR JUDÀFR GHO WLSR GL PRGHOOR DHUHR HOLFRWWHUR 1RPH GHO PRGHOOR SHU HYHQWXDOL DYYLVL GL YHGD D SDJ &URQRPHWUR LQ PLQ VHF D VDOLUH D VFHQGHUH 0HPRULH « 7DVWR VLQLVWUR ef cd VIRJOLD ef SUHPHQGROL EUHYHPHQWH LQVLHPH VL SDVVD DOOD YLVXDOL] ]D]LRQH JUD¿FD GHL VHUYL 7DVWR GHVWUR ef cd VIRJOLD FDPELD L YDORUL 6(7 6HOH]LRQD &RQIHUPD (6& LQWHUURPSH LQGLHWUR (6& WHQ
2SHUDUH VXO 7HUPLQDOH 'DWL 7DVWL (6& H 6(7 6LPEROL GHOOD WHOHPHWULD /D PHPRULD GHO PRGHOOR DWWLYR QRQ q DQFRUD FRQQHVVD 1RQ ODPSHJJLDQWH 5) VSHQWD VXO WUDVPHWWLWRUH 6LPEROR GHOO DQWHQQD ODPSHJJLDQWH O XOWLPR ULFHYLWRUH FRQQHVVR DO PRGHOOR DWWLYR q VSHQWR R q IXRUL SRUWDWD !0 [ 1HVVXQ VHJQDOH GL WHOHPHWULD ULOHYDWR !0 ,QGLFD OD IRU]D GHO VHJQDOH !3 ,QGLFD OD IRU]D GHO VHJQDOH GHOO $OOLHYR VXO WUD VPHWWLWRUH GHO 0DHVWUR 7DVWR D VLQLVWUD GHOOR VFKHUPR 7DVWR (6& 8QD EUHYH SUHVVLRQH VXO
6FRUFLDWRLH 6KRUW &XWV 6L SRVVRQR ULFKLDPDUH GLUHWWDPHQWH SDUWLFRODUL PHQX RG RS]LRQL XVDQGR OH VHJXHQWL FRPELQD]LRQL GL WDVWL &/($5 8QD EUHYH SUHVVLRQH VLPXOWDQHD GHL WDVWL cd R ef VXO ODWR GHVWUR DQQXOOD LO YDORUH LQVHULWR QHO FDPSR DWWLYR H ID WRUQDUH DL YDORUL VWDQGDUG ,QGLFDWRUH JUDÀFR GHOOD SRVL]LRQH GHL VHUYL 8QD EUHYH SUHVVLRQH VLPXOWDQHD GHL WDVWL ef VXO ODWR VLQLVWUR ID SDVVDUH DOOD YLVXDOL]]D]LRQH JUD¿FD GHL VHUYL GDOOD VFKHUPDWD EDVH R GD TXDVL WXWWL PHQX YHGL D SDJ
&RORQQH QDVFRVWH $OFXQL PHQX KDQQR GHOOH FRORQQH FKH QRQ VRQR YLVLELOL D FDXVD GHOOD GLPHQVLRQH ULGRWWD GHOOR VFKHUPR 4XHVWL PHQX VRQR ULFRQRVFLELOL JUD]LH DO WULDQJROLQR LQ EDVVR D VLQLVWUD FKH SXQWD YHUVR GHVWUD 3HU HVHPSLR QHO PHQX ,PSRVWD] VHUYL 6 6 6 6 6 5HY FHQW 4XHVWD SURFHGXUD YDOH DQFKH SHU JOL DOWUL PHQX FKH KDQQR TXHVWD FDUDWWHULVWLFD 9DOH DQFKH LQ VHQVR YHUWLFDOH SHU PRVWUDUH OH ULJKH FKH QRQ VRQR YLVLELOL FU
02'2 1$6&2672 +,''(1 02'( 6FHOWD GHOOD OLQJXD H FRQWUDVWR GHOOR VFKHUPR ,O PHQX 02'2 1$6&2672 +,''(1 02'( GHO WUDVPHWWLWRUH P[ +R77 VL UDJJLXQJH GD RJQL PHQX WHQHQGR SUHPXWL L WDVWL cd VXO ODWR VLQLVWUR LQVLHPH DO WDVWR 6(7 VXO ODWR GHVWUR SHU FLUFD VHFRQGR ¿ +,''(1 02'( ¿ &2175$67 '(876&+ /$1*8$*( 92,&( '(876&+ 67,&.
¿ +,''(1 02'( ¿ &2175$67 (1*/,6+ /$1*8$*( 92,&( '(876&+ 67,&. &$/, ¿ +,''(1 02'( ¿ &2175$67 (1*/,6+ /$1*8$*( 92,&( (1*/,6+ 67,&. &$/, , $ELOLWDUH OD PRGL¿FD SUHPHQGR 6(7 VXO WDVWR GHVWUR ¿ +,''(1 02'( ¿ &2175$67 (1*/,6+ /$1*8$*( 92,&( '(876&+ 67,&. &$/, /D SURFHGXUD GL FDULFDPHQWR WHUPLQD TXDQGR VFRPSDUH OD UHODWLYD EDUUD GDOO DQJROR VLQLVWUR QHOOD SDUWH LQIHULRUH GHOOR VFKHUPR ¿ +,''(1 02'( ¿ &2175$67 (1*/,6+ /$1*8$*( 92,&( (1*/,6+ 67,&.
–10 0 % 0% 0% 0% 0% 0% + 2 4 6 8 10 12 + 0% 0% 0% 0% 0% 0% + 0% 0% 0% 0% 0% 0% 2UD SRUWDUH D WXUQR FLDVFXQR GHL VWLFNV SULPDUL QHL ¿QH FRUVD PD VHQ]D HVHUFLWDUH SUHVVLRQH LQ TXHVWD SRVL]LRQH ,Q FLDVFXQR GHL ¿QH FRUVD LQ WRWDOH OR VFKHUPR GHYH LQGLFDUH HVDWWDPHQWH R LQ EDVH GD TXDOH ODWR GHO FHQWUR FL VL WURYD 3HU HVHPSLR VH LO FRQWUROOR GHO WUDVPHWWLWRUH VL WURYD DO VXR ¿QH FRUVD GL VLQLVWUD H OH DOWUH IXQ]LRQL GHJOL VWLFNV VL WURYDQR DO FHQWUR DOORUD OR VFKHUPR P
c d &$/,%5$=,21( 67,&. &2175$67 (1*/,6+ /$1*8$*( 92,&( '(876&+ 67,&. &$/, $GHVVR ULODVFLDUH OR VWLFN DXWRFHQWUDQWH LQ PRGR FKH ULSUHQGD GD VROR OD VXD SRVL]LRQH FHQWUDOH SRL SUHPHUH GL QXRYR 6(7 SHU FDOLEUDUH TXHVWD SRVL]LRQH ,O VLPEROR WULDQJRODUH GL GHVWUD LQL]LD D ODPSHJJLDUH c d &$/,%5$=,21( 67,&. &2175$67 (1*/,6+ /$1*8$*( 92,&( '(876&+ 67,&.
9LVXDOL]]DUH L GDWL GHOOD WHOHPHWULD &RPH GHVFULWWR D SDJ QHO FRQWHVWR GHO VXE PHQX 6&(/7$ 6(1625( GHO PHQX 7HOHPHWULD « 5,&(9,725( 5;²6 48$ 5;²6 675 5;²G%P G%P 7;²G%P G%P /²3$&.
6(1625 0RGXOL *(1(5$/( (/(&75,& 9$5,2 *36 PP V 6(1625 9 & 4XHVWD VFKHUPDWD PRVWUD LQ WHPSR UHDOH OD WHQVLR QH H OD WHPSHUDWXUD PLVXUDWH GDO VHQVRUH WHQVLRQH WHPSHUDWXUD &RG 1U R FROOHJDWR QHOOD SUHVD 7 (03 GHL PRGXOL *HQHUDO (QJLQH &RG 1U *HQHUDO $LU &RG 1U RSSXUH (OHFWULF $LU 0RGXOV &RG 1U 4XHVWD VFKHUPDWD PRVWUD LQ WHPSR UHDOH OD TXRWD PLVX UDWD GDO SXQWR GL GHFROOR H OD YHORFLWj GL VDOLWD GLVFHVD LQ P V IRUQLWH GD XQ PRG
9$5,2 (/(&75,& $,5 02'8/( P V + $/7 P V P V 5;64 / 0$; P 0,1 P 4XHVWD VFKHUPDWD PRVWUD LQ WHPSR UHDOH L GDWL IRUQLWL GD XQ PRGXOR 9DULR &RG 1U FROOHJDWR DO ULFHYLWRUH 6LJQL¿FDWR GHOOH VLJOH 6LJOD 'HVFUL]LRQH $/7 4XRWD DWWXDOH 5;64 ,QWHQVLWj GHO VHJQDOH ULOHYDWR GDO ULFHYLWRUH LQ 0$; 0,1 4XRWD PDVVLPD LPSRVWDWD ULVSHWWR DO SXQWR GL ODQFLR ROWUH TXHVWD TXRWD LO WUDVPHWWLWRUH HPHWWH XQ VHJQDOH GL DOODUPH 4XRWD PLQLPD LPSRVWDWD ULVSHWWR DO S
GL YHGHUH O $SSHQGLFH RSSXUH GL YLVLWDUH LO VLWR ZZZ JUDXSQHU GH , GDWL VHJXHQWL VRQR FRVWDQWHPHQWH SUHVHQWL LQ TXHVWD VFKHUPDWD GLSHQGH VROR GDL VHQVRUL FROOHJDWL DO PRGXOR /D WHQVLRQH LQ WHPSR UHDOH GL GXH EDWWHULH %$7 H %$7 OD PLVXUD YLHQH GD GXH VHQVRUL GL WHPSHUDWXUD 7 H 7 DQFKH XQ LQGLFDWRUH GL OLYHOOR SHU LO FDUEXUDQWH 6XO PDUJLQH GHVWUR GHOOR VFKHUPR VL YHGUDQQR GHL YDORUL DOWHUQDWL WUD OD WHQVLRQH GHOOH VLQJROH FHOOH GL XQ SDFFR PD[ FHOOH H OD TXRWD UHODWLYD DOOD SRVL]LRQH GH
$YYLVL VXOOR VFKHUPR $YYHUWHQ]H %,1' 1 ' 2. &RQQHVVLRQH ELQG QRQ DWWLYD 1HVVXQ ULFHYLWRUH q FRQQHVVR DO PRGHOOR LQ PHPRULD DWWLYD 8Q UDSLGR WRFFR VX 6(7 H VL YLHQH LQYLDWL GLUHWWDPHQWH DOO RS]LRQH FRUULVSRQGHQWH 3UHJR VFHJOL 5) RQ RII" 21 2)) 6L GHVLGHUD LO VHJQDOH 5) DFFHVR 21 R VSHQWR 2)) " 5LFDULFDUH OD E D WWH U LD %LVRJQD FDULFDUH OD EDWWHULD OD WHQVLRQH q WURSSR EDVVD )DLO 6DIH GD LPSRVWDUH )DLO 6DIH QRQ DQFRUD LPSR VWDWR 0$1&$ ,03257 '$7, 2.
,QGLFDWRUL GL IXQ]LRQH ,QGLFDWRUH GL SRVL]LRQH %ORFFR GHL WDVWL GL SURJUDPPD]LRQH / XOWLPD OLQHD GHOOR VFKHUPR PRVWUD JOL LQGLFDWRUL GL IXQ ]LRQH FKH FDPELDQR D VHFRQGD GHO PHQX VHOH]LRQDWR $SSHQD VL PXRYH XQR GHL GXH FRQWUROOL &75/ SRVL ]LRQDWL DO FHQWUR GHO SDQQHOOR IURQWDOH DSSDUH XQ SLFFROR VLPEROR D GHVWUD GHL GXH LQGLFDWRUL GL SRVL]LRQH YHUWLFDOL 3HU HYLWDUH HUURUL R LQVHULPHQWL QRQ YROXWL q SRVVLELOH EORFFDUH L GXH WDVWL URWRQGL VHQVLELOL DO WRFFR WRFFDQGR FRQWHPSRUDQHDPHQWH (6&
5HQGHUH RSHUDWLYR LO WUDVPHWWLWRUH 1RWH SUHOLPLQDUL ULJXDUGR DO WUDVPHWWLWRUH P[ +R77 1RWH SUHOLPLQDUL ,Q WHRULD LO VLVWHPD *UDXSQHU +R77 FRQVHQWH O XVR FRQWHPSRUDQHR GL SL GL PRGHOOL 7XWWDYLD LQ SUDWLFD HVVHQGRFL VXOOD EDQGD GHL *+] ,60 DOWUL VLVWHPL GLYHUVL LQ IXQ]LRQH TXHVWR QXPHUR YLHQH ULGRWWR FRQVLGHUHYROPHQWH FRPH ULFKLHVWR GDOOH QRUPH GL DSSURYD]LRQH &RPXQTXH q VHPSUH SRVVLELOH RSHUDUH FRQWHPSRUDQHDPHQWH FRQ PROWL PRGHOOL LQ SL ULVSHWWR DOOH IUHTXHQ]H FKH DEELDPR XVDW
$JJLRUQDPHQWR GHO ¿UPZDUH 7[ FKH FKH YHQJDQR XVDWL LQDYYHUWLWDPHQWH H LQ PRGR HUUDWR ,O ULVXOWDWR q FKH LQL]LDOPHQWH L VHU YL FROOHJDWL D TXHVWL FDQDOL UHVWDQR IHUPL DO FHQWUR ¿QFKq L FDQDOL QRQ YHQJRQR DVVHJQDWL DJOL RSSRU WXQL FRQWUROOL VXO WUDVPHWWLWRUH 3HU OR VWHVVR PR WLYR DQFKH L PL[HU LQL]LDOPHQWH VRQR LQDWWLYL 3HU PDJJLRUL GHWWDJOL VL SUHJD GL IDUH ULIHULPHQWR D SDJ DHUHL H HOLFRWWHUL /D SURFHGXUD GL EDVH SHU SURJUDPPDUH OD PHPR ULD GL XQ QXRYR PRGHOOR VL WURYD D SDJLQD
1HOOD ¿QHVWUD 3RUW VHOHFW RUD VL SXz VFHJOLHUH OD SRU WD &20 FRUUHWWD TXHOOD D FXL q FROOHJDWD O LQWHUIDFFLD 86% 4XHVWD VL SXz LGHQWL¿FDUH FRPH ³6LOLFRQ /DEV &3 [ 86% WR 8$57 %ULGJH´ QHOOD FRORQQD 'HYL FH QDPH QHOO LPPDJLQH TXL VRWWR VDUHEEH OD SRU WD &20 2UD ULFKLDPDUH O RS]LRQH )LUPZDUH 8SJUDGH VRWWR 0HQX DSULUH &RQWUROOHU 0HQX H FOLNNDUH VX )LUP ZDUH 8SJUDGH SHU O DJJLRUQDPHQWR FRQ LO VXI¿VVR ELQ QHO GLDORJR 2SHQ ¿OH FKH DSSDUH RUD , ¿OHV GL DJJLRUQDPHQWR VRQR SUHV
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
5HQGHUH RSHUDWLYR LO ULFHYLWRUH 1RWH SUHOLPLQDUL ULJXDUGDQWL LO ULFHYLWRUH *5 6LVWHPD ULFHYHQWH ,O VHW GHO UDGLRFRPDQGR P[ +R77 FRPSUHQGH XQ ULFHYLWRUH ELGLUH]LRQDOH *5 D *+] FKH SHUPHWWH OD FRQQHVVLRQH ¿QR DG XQ PDVVLPR GL VHUYL 6H VL DFFHQGH XQ ULFHYLWRUH +R77 PHQWUH LO VXR WUD VPHWWLWRUH q VSHQWR R q IXRUL SRUWDWD VL YHGUj LO /(' URVVR GHO ULFHYLWRUH DFFHQGHUVL ¿VVR SHU VHFRQGR H SRL LQL]LDUH D ODPSHJJLDUH OHQWDPHQWH 4XHVWR VLJQL¿FD FKH DO PRPHQWR QRQ F q FRQQHVVLRQH FRQ LO
$JJLRUQDPHQWR GHO ¿UPZDUH 5[ 6L SUHJD GL QRWDUH TXDQWR VHJXH )DUH LO UHVHW DO ULFHYLWRUH YXRO GLUH DQQXOODUH 7877( OH LPSRVWD]LRQL IDWWH H ULWRUQDUH DL YDORUL LPSRVWDWL LQ IDEEULFD FRQ O HFFH]LRQH GHOOH LQIRUPD]LRQL GL FRQQHVVLRQH ELQGLQJ 6H YLHQH HVHJXLWR XQ UHVHW SHU HUURUH VLJQL¿FD FKH ELVRJQD UHLQVHULUH WXWWH OH LPSRVWD]LRQL LQVHULWH SUHFHGHQWHPHQWH XVDQGR LO PHQX 7HOHPHWU\ ' DOWUR FDQWR LO 5(6(7 q SDUWLFRODUPHQWH SUDWLFR TXDORUD VL YRJOLD WUDVIHULUH LO ULFHYLWRUH VX GL XQ DOWUR PRGHOOR
WHOOD B &+B5; ,O ¿OH DSSDUH QHOOD ¿QHVWUD DVVRFLDWD 6RWWR &20 SRUW 6HWXS VFHJOLHUH OD SRUWD D FXL q FROOHJDWD O LQWHUIDFFLD 86% 6H QRQ VL q VLFXUL SUH PHUH LO SXOVDQWH VHDUFK H VFHJOLHUH ³6LOLFRQ /DEV &3 [ 86% WR 8$57 %ULGJH´ QHOOD ¿QHVWUD SRS XS TXLQGL SUHPHUH 2.
'XUDQWH OD SURFHGXUD GL DJJLRUQDPHQWR HQWUDPEL L /(' GHO ULFHYLWRUH VRQR DFFHVL 4XDQGR WHUPLQD LO /(' YHUGH VL VSHJQH H TXHOOR URVVR LQL]LD D ODPSHJ JLDUH 6SHJQHUH LO ULFHYLWRUH H VFROOHJDUH LO FDYR GHOO LQWHU IDFFLD 6H DYHWH DOWUL ULFHYLWRUL GRYHWH ULSHWHUH OD SUR FHGXUD SHU RJQXQR ,QL]LDOL]]DUH LO ULFHYLWRUH &RPSOHWDWR O DJJLRUQDPHQWR SHU PRWLYL GL VLFXUH] ]D %,62*1$ LQL]LDOL]]DUH LO ULFHYLWRUH SULPD GL XVDU OR GL QXRYR 0HQWUH VL DFFHQGH LO ULFHYLWRUH WHQHUH SUHPXWR LO WD VWR 6(7 SRL
1RWH SHU O LQVWDOOD]LRQH ,QVWDOOD]LRQH GHO ULFHYLWRUH ,QGLSHQGHQWHPHQWH GD TXDOH VLVWHPD ULFHYHQWH *UDXS QHU VL VWLD XVDQGR OD SURFHGXUD q VHPSUH OD VWHVVD 6L SUHJD GL QRWDUH FKH OH DQWHQQH ULFHYHQWL VL GHYRQR SRVL]LRQDUH DG DOPHQR FP GDOOH SDUWL PHWDOOLFKH H GDL ¿OL FKH QRQ VRQR GLUHWWDPHQWH FROOHJDWL DO ULFHYLWRUH 6RQR LQFOXVL FRPSRQHQWL LQ DFFLDLR H ¿EUD GL FDUERQLR VHUYL SRPSH FDUEXUDQWH FDYL GL RJQL WLSR HFF ,GHDO PHQWH LO ULFHYLWRUH DQGUHEEH LQVWDOODWR VXO PRGHOOR LQ XQD SRVL]LRQH IDF
$OLPHQWD]LRQH GHO VLVWHPD ULFHYHQWH 8Q DOLPHQWD]LRQH DI¿GDELOH q OD EDVH HVVHQ]LDOH SHU DYHUH XQ FRQWUROOR DI¿GDELOH GHL PRGHOOL 5LQYLL GHL FR PDQGL OLEHUL GL PXRYHUVL EDWWHULD FRPSOHWDPHQWH FDULFD FDYL GL FROOHJDPHQWR DOOD EDWWHULD GL VH]LRQH DGHJXDWD FRQQHWWRUL LQ EXRQH FRQGL]LRQL HFF WXWWR DLXWD D ULGXUUH LO FRQVXPR GL HQHUJLD PD VH SXU DYHQGR VHJXLWR WXWWR TXHVWR OD WHQVLRQH GHOOD EDWWHULD ULFHYHQWH FRQWUROODWD GDO GLVSOD\ GHO WUDVPHWWLWRUH FUROOD ULSHWXWDPHQWH R q JHQHUDOPHQWH WURSS
%DWWHULH /L3R FRQ FHOOH 3HU XQD GDWD FDSDFLWj OH EDWWHULH /L3R VRQR SL OHJJHUH GHOOH 1L0+ 3HU SURWHJJHUOH GDJOL XUWL VRQR DQFKH GLVSR QLELOL DOO LQWHUQR GL FRQWHQLWRUL LQ SODVWLFD /D WHQVLRQH GL 9 GL XQ SDFFR GD FHOOH /L3R QRQ SRQH SUREOHPL DL ULFHYLWRUL *UDXSQHU +R77 H QHPPHQR SHU FHUWL VHUYL UHJRODWRUL JLURVFRSL HFF FKH VRQR VSHFL ¿FDPHQWH GLFKLDUDWL DGDWWL SHU TXHVWH WHQVLRQL SL DOWH 6L SUHJD SHUz GL QRWDUH FKH YLWXDOPHQWH WXWWL L VHUYL UHJRODWRUL JLURVFRSL HFF YHQGXWL LQ SDV
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
'HÀQL]LRQH GHL WHUPLQL )XQ]LRQL GL FRQWUROOR FRQWUROOL GHO WUDVPHWWLWRUH LQJUHVVR IXQ]LRQL FRQWUROOR FDQDOL PL[HU LQWHUUXWWRUL FRPPXWDWRUL 3HU IDFLOLWDUH OD FRPSUHQVLRQH GHO PDQXDOH P[ +R77 OD VH]LRQH VHJXHQWH FRQWLHQH OD GH¿QL]LRQH GL PROWL WHUPLQL FKH VDOWDQR IXRUL VSHVVR QHO WHVWR GL TXHVWR PDQXDOH )XQ]LRQL GL FRQWUROOR &RQ LO WHUPLQH IXQ]LRQL GL FRQWUROOR VL LQWHQGRQR L VHJQDOL JHQHUDWL GD XQ SDUWLFRODUH FRPDQGR VWLFN LQWHUUXWWRUH HFF H FKH GHYRQR FRQWUROODUH XQD IXQ]LR QH VSHFL¿
QH FKH LQL]LD D SDJ LQ TXHVWR PDQXDOH 'HÀQL]LRQH GHL WHUPLQL BP[ B+R77B B,7$ LQGG
$VVHJQD]LRQH GL FRQWUROOL LQWHUUXWWRUL H FRPPXWDWRUL /D SURFHGXUD GL EDVH ,O WUDVPHWWLWRUH P[ +RWW V\VWHP GLVSRQH GHOOD PDV VLPD ÀHVVLELOLWj TXDQGR VL WUDWWD GL DVVHJQDUH L FRPDQGL ¿VLFL VWDQGDUG D IXQ]LRQL VSHFL¿FKH 3RLFKq O DVVHJQD]LRQH GHL FRPDQGL VWLFNV H PDQRSROH H GHJOL LQWHUUXWWRUL YLHQH IDWWR DOOR VWHVVR PRGR DQFKH VH LQ PHQX GLYHUVL q JLXVWR D TXHVWR SXQWR VSLHJDUH OH WHFQLFKH GL SURJUDPPD]LRQH IRQGDPHQWDOL LQ PRGR FKH O XWHQWH VL SRVVD SRL FRQFHQWUDUH VXOOH SDUWLFRODULWj GL RJQL P
,QW FRQWURO IL[ & & & & ); );L & L & L & L & L 8VDUH OH IUHFFH VXO WDVWR GL GHVWUD R GL VLQLVWUD SHU VFH JOLHUH O LQWHUUXWWRUH GHVLGHUDWR H SRL DVVHJQDUOR WRFFDQGR EUHYHPHQWH 6(7 VXO WDVWR GL GHVWUD 1RWH , GXH LQWHUUXWWRUL ); PHWWRQR XQD IXQ]LRQH VX 21 );, R VX 2)) ); LQ PRGR SHUPDQHQWH 7XWWL JOL DOWUL LQWHUUXWWRUL PHQ]LRQDWL SRVVRQR DYHUH XQ DVVHJQD]LRQH PXOWLSOD %LVRJQD IDUH DWWHQ]LRQH D QRQ DVVHJQDUH DOOR VWHVVR LQWHUUXWWRUH GHOOH IXQ]LR QL FKH VLDQR LQ FRQWUDVWR WUD
7ULP GLJLWDOL 'HVFUL]LRQH GHOOD IXQ]LRQH H GHO WULP GL VSHJQLPHQWR GHO PRWRUH VXO &+ 0RGHOOL GL DHUHL ,O WULPPDJJLR GHO FDQDOH SRVVLHGH XQD SDUWLFRODUH D]LRQH SHU OR VSHJQLPHQWR GHO PRWRUH FKH q FRQFHSLWD SHU L PRWRUL D VFRSSLR LPSRVWDUH LQQDQ]LWXWWR FRQ LO WULPPDJJLR XQD SRVL]LRQH GL PLQLPR VLFXUD 4XDQGR VL VSRVWD LO WULPPDJJLR GHO FDQDOH LQ GLUH]LRQH DUUHVWR GHO PRWRUH ¿QR DOO¶HVWUHPD SRVL]LRQH GHOOD FRUVD GHO WULP VXO GLVSOD\ QHOOD SRVL]LRQH ¿QDOH ULPDQH XQ FRQ WUDVVHJQR 4XD
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
0RGHOOL GL DHUHR 4XHVWR SURJUDPPD VXSSRUWD DHURPRGHOOL FRQ DO PDV VLPR TXDWWUR VHUYL SHU JOL DOHWWRQL H TXDWWUR VHUYL SHU L ÀDSV FRQ SLDQL GL FRGD D 9 H DQFKH DHURPRGHOOL 'HOWD R 7XWWDOD FRQ GXH VHUYL SHU DOHWWRQL SURIRQGLWj H TXDWWUR VHUYL SHU L ÀDSV /D JUDQ SDUWH GHL PRGHOOL D PRWRUH H GHJOL DOLDQWL KDQQR L SLDQL GL FRGD QRUPDOL FRQ XQ VHUYR SHU LO SURIRQGLWj H XQR SHU LO WLPRQH H SRL KDQQR XQ VHUYR SHU JOL DOHWWRQL H XQ DOWUR SHU LO FDUEXUDWRUH R LO UHJRODWRUH HOHWWURQLFR QH JOL DOLDQWL V
1RWH GL LQVWDOOD]LRQH %LVRJQD FROOHJDUH L VHUYL DO ULFHYLWRUH QHOOD VHTXHQ ]D LOOXVWUDWD TXL GL VHJXLWR /H XVFLWH QRQ QHFHVVDULH VL ODVFLDQR YXRWH 6L SUHJD DQFKH GL OHJJHUH OH LQIRUPD]LRQL QHOOH SDJLQH VHJXHQWL 0RGHOOL GL DHUHR FRQ H VHQ]D PRWRUH FRQ ÀQR D VHUYL SHU JOL DOHWWRQL H ÀQR D VHUYL SHU L ÁDS « « H FRQ FRGD WLSR QRUPDOH RSSXUH VHUYL SHU O HOHYDWRUH /LEHUR R IODS GHVWUR R IXQ]LRQH DX[ /LEHUR R IODS VLQLVWUR R IXQ]LRQH DX[ /LEHUR R VHFRQGR HOHY R IXQ]LRQH DX[ /LEHUR R DO
0RGHOOL GL HOLFRWWHUR ,O FRQWLQXR VYLOXSSR GHL PRGHOOL GL HOLFRWWHUR H GHL ORUR FRPSRQHQWL FRPH JLURVFRSL JRYHUQRU SDOH URWRUH HFF FL KD SRUWDWR DOOD VLWXD]LRQH DWWXDOH GRYH HVVL VRQR LQ JUDGR GL HVHJXLUH PDQRYUH DFUREDWLFKH VR¿VWLFDWH LQ ' 3HU FRQWUR VH VLHWH GHL SULQFLSLDQWL QHO YROR FRQ HOLFRW WHUR EDVWDQR SRFKH H VHPSOLFL UHJROD]LRQL SHU LQL]LDUH VXELWR O DGGHVWUDPHQWR FRQ LO YROR VWD]LRQDULR KRYHULQJ SHU SRL SURVHJXLUH LPSDUDQGR D VIUXWWDUH WXWWH OH RS]LRQL SUHYLVWH GDO SURJUDPPD G
1RWD SHU L PRGHOOLVWL FKH YHQJRQR GDL VLVWHPL *UDXS QHU SUHFHGHQWL 5LVSHWWR DOOD VHTXHQ]D SUHFHGHQWH GHL FDQDOL VXO ULFH YLWRUH LO VHUYR VXOOD SUHVD VHUYR GHO SDVVR FROOHWWLYR H LO VHUYR VXOOD SUHVD VHUYR GHO PRWRUH VRQR VWDWL VFDPELDWL %LVRJQD FROOHJDUH L VHUYL DOOH SUHVH GHO ULFH YLWRUH QHOO RUGLQH LOOXVWUDWR QHOOD SDJLQD TXL D ¿DQFR /H XVFLWH QRQ QHFHVVDULH VRQR ODVFLDWH OLEHUH 3HU PDJJLRUL LQIRUPD]LRQL VXL YDUL WLSL GL SLDWWR FLFOLFR VL IDFFLD ULIHUL PHQWR DO PHQX 7LSR GL KHOL GH
'HVFUL]LRQH GHWWDJOLDWD GHOOD SURJUDPPD]LRQH 2FFXSDUH XQD QXRYD PHPRULD &KL KD OHWWR LO PDQXDOH ¿QR D TXHVWR SXQWR DYUj JLj SUR YDWR D IDUH TXDOFKH SURJUDPPD]LRQH 3HUz q LPSRUWDQWH GHVFULYHUH L VLQJROL PHQX QHL GHWWDJOL SHU HVVHUH FHUWL FKH YHQJDQR FRPSUHVL LQ WXWWH OH ORUR SUHURJDWLYH ,Q TXHVWD VH]LRQH YHGLDPR GL LPSRVWDUH XQ PRGHOOR LQ XQD PHPRULD OLEHUD SULPD GL IDUH OD SURJUDPPD]LRQH FRPSOHWD *5$8%(/( 9 K &URQ 9ROR .
4XDQGR VL FDQFHOOD XQD PHPRULD QRQ DWWLYD GRSR OD SURFHGXUD YLHQH LQGLFDWD FRQ ÄÄÄYXRWRÄÄÄ VRW WR LO PHQX 6FHJOL XQ PRGHOOR 'RSR FKH OD PHPRULD VFHOWD q VWDWD LQL]LDOL]]DWD FRQ LO WLSR GL PRGHOOR YROXWR VL SDVVD DO QXRYR PRGHOOR H QHOOR VWHVVR WHPSR FRPSDUH TXHVWR DYYLVR SHU SR FKL VHFRQGL « %,1' 1 ' 2.
FROOHJDWR DO FDQDOH SRWUHEEH ULVSRQGHUH DL FRPDQGL VHFRQGR OD SRVL]LRQH GHO OLPLWDWRUH &75/ 3HU HQWUDP EL L WLSL GL PRGHOOR TXHVWD VLWXD]LRQH FDPELD VROR GRSR FKH VL VRQR IDWWH OH RSSRUWXQH DVVHJQD]LRQL GHL FRPDQGL QHO PHQX ,PSRVWD] FRQWUROOL 6H VL YXROH XVDUH XQD PHPRULD QXRYD DSSHQD LQL]LDOL] ]DWD SULPD FKH LO WUDVPHWWLWRUH SRVVD FRQWUROODUH L VHUYL %,62*1$ FRQQHWWHUOD DG XQ ULFHYLWRUH 3HU PDJJLRUL LQIRUPD]LRQL LQ SURSRVLWR VL SUHJD GL IDUH ULIHULPHQWR DOOD VH]LRQH %LQGLQJ DOOH SDJ
6FHOWD GHO PRGHOOR 5LFKLDPDUH XQ PRGHOOR GDOOH PHPRULH « /D VH]LRQH DOOH SDJLQH H VSLHJD LO PHWRGR EDVH SHU XVDUH L WDVWL PHQWUH OH GXH SDJLQH SUHFHGHQWL VSLHJDQR FRPH PXRYHUVL QHOOD OLVWD 0XOWLIXQ]LRQH H FRPH LPSRVWDUH XQD QXRYD PHPRULD $GHVVR LQL]LDPR FRQ OD GHVFUL]LRQH QRUPDOH GHL VLQJROL PHQX QHOO RUGLQH FRQ FXL VRQR SUHVHQWDWL VXO WUDVPHWWLWRUH SHUFLz LQL]LDPR FRQ LO PHQX « 6FHOWD GHO PRGHOOR 6FHJOL XQ PRGHO &RSLD &DQFHOOD 1DVFRQGL PHQX 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR
&RSLD &DQFHOOD &DQFHOOD R FRSLD PRGHO ¼ PRGHO FRSLD GD R VX 6' FDUG FRSLD OH IDVL GL YROR 6HOH]LRQDUH LO PHQX &RSLD &DQFHOOD FRQ L WDVWL cd GL GHVWUD R GL VLQLVWUD H SRL WRFFDUH EUHYHPHQWH LO WDVWR 6(7 6FHJOL XQ PRGHO &RSLD &DQFHOOD 1DVFRQGL PHQX 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL PRGHOOR « VH VL ULVSRQGH 12 OD SURFHGXUD YLHQH LQWHUURWWD H VL ULWRUQD DOOD VFKHUPDWD SUHFHGHQWH VH VL ULVSRQGH 6, SUHPHQGR SULPD f SHU HYLGHQ]LDUOR H FRQIHUPDQGR SRL FRQ 6(7 OD PHPRULD VFHOWD YLHQH
4XDQGR VL FRQIHUPD OD PHPRULD VFHOWD FRQ 6(7 DOORUD FRPSDUH TXHVWD ULFKLHVWD SHU OD VLFXUH]]D 6LFXUR GL YROHU FRSLDUH" 12 8/7,0$7( ¿¿¿ YXRWR ¿¿¿ 6, 6H VL ULVSRQGH 12 OD SURFHGXUD YLHQH LQWHUURWWD H VL ULWRUQD DOOD VFKHUPDWD SUHFHGHQWH VH VL ULVSRQGH 6, SUHPHQGR SULPD f SHU HYLGHQ]LDUOR H FRQIHUPDQGR SRL FRQ 6(7 LO PRGHOOR VHOH]LRQDWR YLHQH FRSLDWR VXOOD PHPRULD GL GHVWLQD]LRQH 1RWD &RSLDQGR XQ PRGHOOR VL FRSLDQR WXWWL L GDWL FRPSUHVL TXHOOL GL FRQQHVVLRQH FRQ XQ FHUWR ULFHYLWRUH S
,PSRUWD GD 6' 8VDUH L WDVWL cd SHU VHOH]LRQDUH ,PSRUWD GD 6' GDO VXE PHQX SRL WRFFDUH 6(7 SHU FRQIHUPDUH &DQFHOOD PRG &RSLD PRG ²!PRG (VSRUWD VX 6' ,PSRUWD GD 6' &RSLD IDVH YROR ! ! ! ! ! 6FHJOLHUH LO PRGHOOR GD LPSRUWDUH GDOOD 6' FRQ cd GL GHVWUD R GL VLQLVWUD LPSRUWD GD 6' &$5' $/3,1$ (;75$ &2%5$ %(// * ¿¿IUHL ¿¿ 1RWD /D GDWD GL HVSRUWD]LRQH LQGLFDWD D GHVWUD GHO QRPH GHO PRGHOOR YLHQH HVSUHVVD QHO IRUPDWR $QQR 0HVH *LRU QR )DWWR TXHVWR H WRFFD
1DVFRQGL PHQX 1DVFRQGL PRGHOOR 1DVFRQGHUH L PHQX FKH QRQ YHQJRQR XVDWL 8VDQGR L WDVWL cd GL GHVWUD R VLQLVWUD VL VHOH]LRQD LO PHQX 1DVFRQGL PHQX H VL FRQIHUPD WRFFDQGR 6(7 6FHJOL XQ PRGHO &RS\ (UDVH 1DVFRQGL PHQX 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL PRGHOOR 1HO PHQX FKH DSSDUH VL SRVVRQR VFHJOLHUH L PHQX FKH VL YXROH QDVFRQGHUH SHUFKp QRQ VL XWLOL]]DQR VSHVVR H FRVu QRQ VL YHGUDQQR SL QHOOD OLVWD GHL PHQX PXOWLIXQ ]LRQH 6FHJOL XQ PRGHO &RSLD &DQFHOOD 1DVFRQGL PRGHOOR ,PSRV EDVH PRG
,PSRVWD]LRQL GL EDVH ,PSRVWD]LRQL GL EDVH VSHFL¿FKH SHU PRGHOOL GL DHUHR 3ULPD GL LQL]LDUH OD SURJUDPPD]LRQH GHL SDUDPHWUL VSHFL¿FL ELVRJQD LQVHULUH DOFXQH LPSRVWD]LRQL GL EDVH FKH VL DSSOLFDQR VROR DO PRGHOOR QHOOD PHPRULD DWWLYD 6FHJOLHUH LO PHQX ,PSRV EDVH PRG XVDQGR L WDVWL cd R ef GL GHVWUD R GL VLQLVWUD FRQIHUPDQGR SRL FRQ 6(7 VXO ODWR GHVWUR 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL PRGHOOR ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 1RPH PRGHOOR 0RGR GL SLORWDJJLR DOHWWRQH D VLQ WLP
&RQQHWWHUH ELQGLQJ SL ULFHYLWRUL DG XQ PRGHOOR 6H QHFHVVDULR q SRVVLELOH FRQQHWWHUH SL ULFHYLWRUL DG XQ VROR PRGHOOR SHU FXL L ULVSHWWLYL SURJUDPPL GHOOD P[ +R77 SRVVRQR JHVWLUH GLUHWWDPHQWH XQ PDVVLPR GL GXH ULFHYLWRUL VXGGLYLGHQGR L FDQDOL GLVSRQLELOL WUDPLWH LO PHQX GL FRQWUROOR )DU ULIHULPHQWR DL GHWWDJOL FKH VL WURYDQR TXL GL VHJXLWR 4XHVWR VL DWWXD LQL]LDOPHQWH FRQQHWWHQGR L ULFHYLWRUL VLQJRODUPHQWH FRPH GHVFULWWR QHOOD SURVVLPD VHVVLRQH 4XDQGR VL XVD LO VLVWHPD 5& ELVRJQD WHQHU
,Q DOWHUQDWLYD VL SXz VSHJQHUH H ULDFFHQGHUH LO WUDVPHWWL WRUH H SRL ULVSRQGHUH DO PHVVDJJLR FKH FRPSDUH « 3UHJR VFHJOL 5) RQ RII" 21 2)) « VFHJOLHUH 2)) « 3UHJR VFHJOL 5) RQ RII" 21 2)) « H FRQIHUPDUH SUHPHQGR EUHYHPHQWH 6(7 SRL SDVVD UH GL QXRYR DOOD ULJD PRGXOR +R77 GHO PHQX ,PSRV EDVH PRG H ULFRPLQFLDUH OD SURFHGXUD GL FRQQHVVLRQH 6FLRJOLHUH XQ OHJDPH 3URFHGHUH FRPH GHVFULWWR SULPD SHU LQL]LDUH OD SURFH GXUD GL FRQQHVVLRQH PD 6(1=$ SULPD SUHGLVSRUUH LO ULFHYLWRUH SHU OD FRQQHVVLRQH &D
&+ 5,&(9 ² %,1' &K XVF &K LQJ &K XVF &K LQJ &K XVF &K LQJ &K LQJ &K XVF 'RSR DYHU VHOH]LRQDWR O XVFLWD GHVLGHUDWD FRQ L WDVWL IUHFFLD GL GHVWUD R GL VLQLVWUD LO FRUULVSRQGHQWH FDPSR LQ LQJUHVVR YHUUj LQFRUQLFLDWR 7RFFDUH EUHYHPHQWH 6(7 SHU FRQIHUPDUH / LPSRVWD]LRQH DWWXDOH YHUUj PRVWUDWD LQ PRGR LQYHUVR 2UD VFHJOLHUH LO FDQDOH GL LQJUHVVR YROXWR FRQ OH IUHFFH GL GHVWUD R GL VLQLVWUD /D ¿JXUD VHJXHQWH UDSSUHVHQWD O HVHPSLR UHODWLYR DO FDQDOH GHO WLPRQH &+ 5,&(9 ² %,1' &
GHOOR PXRYHQGR FRQWLQXDPHQWH JOL VWLFN 6H HQWUR XQ UDJJLR GL PHWUL VL QRWDQR GHOOH LQWHUUX]LRQL QHL PRYL PHQWL GHL VHUYL ELVRJQD FHUFDUH GL ULSURGXUOH SHU FDSL UH GD FRVD VRQR VWDWH SURYRFDWH 6H LO PRGHOOR KD XQ PRWRUH q PHJOLR SURYDUH LO VLVWH PD FRQ LO PRWRUH DFFHVR SHU YHGHUH VH SURYRFD GL VWXUEL $OORQWDQDUVL DQFRUD GDO PRGHOOR ¿QFKp VL SHUGH LO FRQ WUROOR $ TXHVWR SXQWR DWWHQGHUH ¿QFKp LO SHULRGR GHO WHVW WHU PLQD H TXDQGR LO WUDVPHWWLWRUH ULWRUQD D SLHQD SRWHQ ]D LO PRGH
VLQLVWUD VL LPSRVWD XQ YDORUH FKH FRUULVSRQGD DG XQD SRVL]LRQH GHO PRWRUH VLFXUDPHQWH VSHQWR PD VHQ]D FKH LO VHUYR IRU]L D ¿QH FRUVD XQ YDORUH WLSLFR q ,03267$= %$6( 02' 2)) 7UDVPHWWL 5) 3URYD SRUWDWD VHF 8VFLWD '6& 330 VW PRW ² ²²² 6(/ 672 / DOWR YDORUH LQVHULWR GL GHIDXOW SHU OD VRJOLD GL LQWHUYHQWR JDUDQWLVFH O HI¿FDFLD GHOO LQWHUUXWWRUH DVVHJQDWR SHU OR VSHJQLPHQWR GHO PRWRUH GD TXDOVLDVL SXQWR GHOOD FRUVD PRWRUH 3HUz VH VL YROHVVH VSRVWDUH LQ EDVVR OD VRJ
,PSRVWD]LRQL GL EDVH ,PSRVWD]LRQL GL EDVH VSHFL¿FKH SHU PRGHOOL GL HOLFRWWHUR 3ULPD GL LQL]LDUH OD SURJUDPPD]LRQH GHL SDUDPHWUL VSHFL¿FL ELVRJQD LQVHULUH DOFXQH LPSRVWD]LRQL GL EDVH FKH VL DSSOLFDQR VROR DO PRGHOOR QHOOD PHPRULD DWWLYD 6FHJOLHUH LO PHQX ,PSRV EDVH PRG XVDQGR L WDVWL cd GL GHVWUD R GL VLQLVWUD FRQIHUPDQGR SRL FRQ 6(7 VXO ODWR GHVWUR 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL KHOL ,PSRVWD]L VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 1RPH GHO PRGHOOR 0RGL GL SLORWDJJLR VLQLVWUD FRGD P
&RQQHWWHUH ELQGLQJ SL ULFHYLWRUL DG XQ PRGHOOR 6H QHFHVVDULR q SRVVLELOH FRQQHWWHUH SL ULFHYLWRUL DG XQ VROR PRGHOOR SHU FXL L ULVSHWWLYL SURJUDPPL GHOOD P[ +R77 SRVVRQR JHVWLUH GLUHWWDPHQWH XQ PDVVLPR GL GXH ULFHYLWRUL VXGGLYLGHQGR L FDQDOL GLVSRQLELOL WUDPLWH LO PHQXQGL FRQWUROOR )DU ULIHULPHQWR DL GHWWDJOL FKH VL WURYDQR TXL GL VHJXLWR 4XHVWR VL DWWXD LQL]LDOPHQWH FRQQHWWHQGR L ULFHYLWRUL VLQJRODUPHQWH FRPH GHVFULWWR QHOOD SURVVLPD VHVVLRQH 4XDQGR VL XVD LO VLVWHPD ELVRJQD WHQHUH S
,Q DOWHUQDWLYD VL SXz VSHJQHUH H ULDFFHQGHUH LO WUDVPHWWL WRUH H SRL ULVSRQGHUH DO PHVVDJJLR FKH FRPSDUH « 3UHJR VFHJOL 5) RQ RII" 21 2)) « VHOH]LRQDUH 2)) « 3UHJR VFHJOL 5) RQ RII" 21 2)) « H FRQIHUPDUH SUHPHQGR EUHYHPHQWH 6(7 SRL SDVVD UH GL QXRYR DOOD ULJD 5) %,1' GHO PHQX ,PSRV EDVH PRG H ULFRPLQFLDUH OD SURFHGXUD GL FRQQHVVLRQH 6FLRJOLHUH XQ OHJDPH 3URFHGHUH FRPH GHVFULWWR SULPD SHU LQL]LDUH OD SURFH GXUD GL FRQQHVVLRQH PD 6(1=$ SULPD SUHGLVSRUUH LO ULFHYLWRUH SHU OD FRQQHVVLRQH &DP
&+ 5,&(9 ² %,1' &K XVF &K LQJ &K XVF &K LQJ &K XVF &K LQJ &K LQJ &K XVF 'RSR DYHU VHOH]LRQDWR O XVFLWD GHVLGHUDWD FRQ L WDVWL IUHFFLD GL GHVWUD R GL VLQLVWUD LO FRUULVSRQGHQWH FDPSR LQ LQJUHVVR YHUUj LQFRUQLFLDWR 7RFFDUH EUHYHPHQWH 6(7 SHU FRQIHUPDUH / LPSRVWD]LRQH DWWXDOH YHUUj PRVWUDWD LQ PRGR LQYHUVR 2UD VFHJOLHUH LO FDQDOH GL LQJUHVVR YROXWR FRQ OH IUHFFH GL GHVWUD R GL VLQLVWUD /D ¿JXUD VHJXHQWH UDSSUHVHQWD O HVHPSLR UHODWLYR DL VHUYL GHO UROOLR &+ 5,&(9 ² %,1' &K
PHQWL GHL VHUYL ELVRJQD FHUFDUH GL ULSURGXUOH SHU FDSL UH GD FRVD VRQR VWDWH SURYRFDWH 6H LO PRGHOOR KD XQ PRWRUH q PHJOLR SURYDUH LO VLVWH PD FRQ LO PRWRUH DFFHVR SHU YHGHUH VH SURYRFD GL VWXUEL $OORQWDQDUVL DQFRUD GDO PRGHOOR ¿QFKp VL SHUGH LO FRQ WUROOR $ TXHVWR SXQWR DWWHQGHUH ¿QFKp LO SHULRGR GHO WHVW WHU PLQD H TXDQGR LO WUDVPHWWLWRUH ULWRUQD D SLHQD SRWHQ ]D LO PRGHOOR GHYH HVVHUH FRPSOHWDPHQWH FRQWUROOD ELOH 6H TXHVWR QRQ GRYHVVH DYYHQLUH DO QRQ XVDUH TXHVWR VLVWHP
& QHO PHQX ,PSRVWD] EDVH PRG 4XDQGR VL VHOH]LRQD TXHVWD ULJD LO FDPSR QHOOD FRORQQD GLUHWWDPHQWH VRSUD 672 YHUUj LQFRUQLFLDWR ,03267$= %$6( 02' 3URYD SRUWDWD VHF 330 8VFLWD '6& $XWRURWDWLRQ ²²² 3RV $XWR & ²²² 672 0XRYHUH OR VWLFN & QHOOD SRVL]LRQH GHVLGHUDWD SHU OD VRJOLD H SRL WRFFDUH 6(7 SHU FRQIHUPDUH 9LHQH YLVXDOL] ]DWR LO YDORUH FRUUHQWH ,03267$= %$6( 02' VHF 3URYD SRUWDWD 330 8VFLWD '6& ²²² $XWRURWDWLRQ ²²² 3RV $XWR & 672 )DWWR TXHVWR VL XVDQR L WDVWL FRQ OH
LQWHUYHQWR /H LPSRVWD]LRQL GL GHIDXOW VRQR SHU OD SRVL]LRQH 0RWRU RII GHO VHUYR PRWRUH H SHU OD FXUYD GHO PRWRUH ,03267$= %$6( 02' 8VFLWD '6& 330 $XWRURWDWLRQ ²²² 3RV $XWR & VW PRW ² ²²² 6(/ 672 3URJUDPPD]LRQH 6H VL YXROH FDPELDUH LO YDORUH GL GHIDXOW SHU OD SRVL]LRQH 0RWRU 2)) GHO VHUYR PRWRUH ELVRJQD WRFFDUH 6(7 H LO YDORUH DWWXDOH VDUj HYLGHQ]LDWR 2UD VL XVDQR L WDVWL IUHF FLD GL GHVWUD SHU LPSRVWDUH XQ YDORUH DO TXDOH LO PRWRUH VLD VLFXUDPHQWH VSHQWR 2
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
7LSR GL PRGHOOR 6WDELOLVFH LO WLSR GL PRGHOOR GL DHUHR ,O PHQX 7LSR GL PRGHOOR VL XVD SHU VWDELOLUH OD SUR JUDPPD]LRQH GL XQ FHUWR WLSR GL PRGHOOR ,QROWUH DWWLYD OH FDUDWWHULVWLFKH GHL PL[HU H GHOOH YDULH IXQ]LRQL GL DEELQD PHQWR SHU OD VHJXHQWH SURJUDPPD]LRQH GL XQR VSHFL¿FR PRGHOOR GLHWUR 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL PRGHOOR ,PSRVWD]L VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 3UHPHUH 6(7 VXO WDVWR GL GHVWUD 0RWRUH VX & 4XDQGR VL VFHJOLH 0RWRUH VX & FRQ L WDVWL cd GL GHVWUD R GL V
PXQTXH TXL ELVRJQHUj VSHFL¿FDUH LO WLSR GL FRGD QRUPDO 'HOWD WD ,O FRQWUROOR GL DOHWWRQL HG HOHYDWRUH YLHQH JHVWLWR GD XQR R GXH VHUYL SHU RJQL VHPL DOD 3HUz LO WULPPDJJLR GHOO HOHYDWRUH VDUj LQÀXHQ]DWR GDOOD VFHOWD GHOO RS]LRQH VXOOD ULJD $OHW )ODSV VL YHGD SL DYDQWL PD VROR VXL VHUYL (/6Y 4XHVWD RS]LRQH q GHGLFDWD DL PRGHOOL FKH KDQQR VHUYL VXOO HOHYDWRUH 4XDQGR VL PXRYH LO FRPDQGR GHOO HOHYDWRUH L VHUYL FROOHJDWL DO FDQDOH H DO FDQDOH VL PXRYRQR LQVLHPH
FRUVD L IUHQL VL IHUPHUDQQR FRPXQTXH QHO ORUR SXQWR QHXWUR $OOR VWHVVR WHPSR LO SHUFRUVR GHO FRPDQGR VL HVSDQGHUj DXWRPDWLFDPHQWH DO &RQVLJOLR 'L SUHIHUHQ]D LO VHUYR XWLOL]]DWR SHU FRPDQGDUH L ÀDS IUHQL VXO PRGHOOR DQGUj FROOHJDWR VXO ULFHYLWRUH DOO XVFL WD FRPDQGDWD GDO FDQDOH SUHGLVSRVWR SHU L IUHQL FLRq FROOHJDUH LO VHUYR DO FDQDOH GHO ULFHYLWRUH VH VL q VFHOWR O LQJUHVVR SHU FRPDQGDUH L IUHQL HWF 8Q VHFRQGR VHU YR SHU L IUHQL VDUHEEH SL FRQYHQLHQWH JHVWLUOR DWWUDYHUVR XQ PL[HU
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
7LSR GL HOLFRWWHUR 6WDELOLVFH LO WLSR GL PRGHOOR GL HOLFRWWHUR ,O PHQX 7LSR GL KHOL VL XVD SHU VWDELOLUH OD SURJUDP PD]LRQH GL XQ FHUWR WLSR GL PRGHOOR ,QROWUH DWWLYD OH FDUDWWHULVWLFKH GHL PL[HU H GHOOH YDULH IXQ]LRQL GL DEELQD PHQWR SHU OD VHJXHQWH SURJUDPPD]LRQH GL XQR VSHFL¿FR PRGHOOR 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL KHOL ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 3UHPHUH 6(7 VXO WDVWR GL GHVWUD 3LDWWR RVFLOODQWH WLSR GL SLDWWR %LVRJQD FDPELDUH O LPSRVWD]LRQH GHO SLDWWR LQ EDVH DO QX
7LSR GL SLDWWR RVFLOODQWH 6HUYL HOHY 1 3 2 7LSR GL SLDWWR RVFLOODQWH 6HUYL HOHY DOHWW 2 5 LQWHUHVVDWL KDQQR XQD WHQVLRQH GRYXWD D GLIIHUHQWL SRVL ]LRQL SHU XQD GHYLD]LRQH GHOOD FRUVD /D OLQHDUL]]D]LRQH ULFKLHGH FKH LO SLORWD VL LPSUDWLFKLVFD VXL FRPDQGL SHUFKq GRYHQGR LQWHUYHQLUH VXOOD LQWHUD FRUVD GHOOD VTXDGUHWWD GHO VHUYR OD VXD FRUVD VXELUj XQD ULGX]LRQH GL VHQVLELOLWj SHU L SLFFROL PRYLPHQWL LQ VRVWDQ]D q VLPLOH D XQD ULGX]LRQH ([SR 'LUH]LRQH URWRUH YHUVR GL URWD]L
7,32 +(/, 3LDWWR RVFLO 6Y URO QR /LQHDUL] SLDWWR 'LUH] URWRUH GHV 3DVVR PLQ GLHWUR 6(/ 1HOOD ULJD 3DVVR PLQ VL SXz LPSRVWDUH OD GLUH]LRQH LQ FXL LQWHUYLHQH LO FRQWUROOR GHO FRPDQGR PRWRUH FROOHWWLYR VHFRQGR OH SUHIHUHQ]H SHUVRQDOL 4XHVWD LPSRVWD]LRQH q IRQGDPHQWDOH SHU LO FRUUHWWR IXQ]LRQDPHQWR GL WXWWH TXHOOH IXQ]LRQL FKH ULJXDUGDQR LO PRWRUH H LO FROOHWWLYR FRPH DG HVHPSLR OD FXUYD GHO PRWRUH LO WULP GHO PLQLPR LO PL[HU DQWLFRSSLD HFF 7RFFDQGR LO WDVWR 6(7 VL HYLGHQ]LD OD YRFH GD VFH
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
,PSRVWD]LRQH GHL VHUYL 9HUVR GL URWD]LRQH FHQWUR FRUVD 4XHVWR PHQX VL XVD SHU LPSRVWDUH YHUVR GL URWD]LRQH FHQWUDJJLR FRUVD H VXRL OLPLWL VRODPHQWH SHU LO VHUYR VHOH]LRQDWR 1DVFRQGL PRGHOOR ,PSRV EDVH PRG 7LSR GL PRGHOOR ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL &/($5 SHU FDQFHOODUH LO YDORUH LQVHULWR H ULWRUQDUH DO YDORUH GL GHIDXOW ,PSRUWDQWH , QXPHUL GL LGHQWL¿FD]LRQH GHL VHUYL VL ULIHULVFRQR DL QXPHUL LQGLFDWL VXOOH SUHVH GHO ULFHYLWRUH FRQVLGHUDWR FKH QRQ FL VLDQR VWDWL VFDPEL ULVS
1RWD 3HU DVVHJQDUH XQ FRQWUROOR GHO WUDVPHWWLWRUH D XQ VHUYR FKH q FROOHJDWR DG XQR GHL FDQDOL GD D VL XWLOL]]D LO PHQX ,PSRVWD] FRQWUROOL 9HGL SDJ R 3HU UHJRODUH OH FRUVH LQ PRGR DVLPPHWULFR ELVRJQD SRVL]LRQDUH LO UHODWLYR FRPDQGR GHO WUDVPHWWLWRUH VWLFN FRQWUROOR URWDWLYR LQWHUUXWWRUH GDOOD SDUWH GHOOD FRUVD FKH VL YXROH UHJRODUH LQ PRGR FKH VLD LQFRUQLFLDWR VROR LO YDORUH LQWHUHVVDWR 7RFFDUH LO WDVWR 6(7 SHU HYLGHQ]LDUH LO YDORUH QHOOD FR ORQQD VFHOWD H DELOLWDUH OH PRGL
,PSRVWD]LRQH GHJOL VWLFN 6FHJOLHUH LO PRGR GL SLORWDJJLR H DOWUR (QWUDPEL JOL VWLFN D GRSSLR DVVH KDQQR XQ VLVWHPD GL WULP GLJLWDOL 4XDQGR VL Gj XQ EUHYH LPSXOVR DOOD OHYHWWD GHO WULP XQ FOLFN OD VXD SRVL]LRQH FHQWUDOH VL VSRVWD GL XQR VFDWWR 0DQWHQHQGR OD OHYHWWD GHO WULP SUHPXWD LQ XQD GLUH]LRQH LO YDORUH GHO WULP VL VSRVWD GL FRQWLQXR QHOOD VWHVVD GLUH]LRQH DXPHQWDQGR OD YHORFLWj GL VSRVWD PHQWR /D TXDQWLWj GHOOR VSRVWDPHQWR VL SXz DSSUH]]DUH DQFKH WUDPLWH OD YDULD]LRQH GL WRQDOLWj GHO V
&K $OHW (OHY 7LP */ */ */ */ 7U 6W V V V V V V V V WLPH 7RFFDUH EUHYHPHQWH 6(7 SHU FRQIHUPDUH /D VHOH]LRQH FRUUHQWH YLHQH PRVWUDWD LQ UHYHUVH RUD VL SXz VFHJOLHUH LO YDORUH YROXWR WUD H DJHQGR VXOOH IUHFFH GL GHVWUD R GL VLQLVWUD 3HU HVHPSLR &K $OHW (OHY 7LP */ */ */ */ 7U 6W V V V V V V V V GDO FDPSR LQFRUQLFLDWR VXO GLVSOD\ 3HU HVHPSLR VL SR WUHEEH GHVLGHUDUH FKH LO PRWRUH DFFHOHUL SL OHQWDPHQWH GL TXDQW
,PSRVWD]LRQH GHJOL VWLFN 6FHJOLHUH LO PRGR GL SLORWDJJLR H DOWUR (QWUDPEL JOL VWLFN D GRSSLR DVVH KDQQR XQ VLVWHPD GL WULP GLJLWDOL 4XDQGR VL Gj XQ EUHYH LPSXOVR DOOD OHYHWWD GHO WULP XQ FOLFN OD VXD SRVL]LRQH FHQWUDOH VL VSRVWD GL XQR VFDWWR 0DQWHQHQGR OD OHYHWWD GHO WULP SUHPXWD LQ XQD GLUH]LRQH LO YDORUH GHO WULP VL VSRVWD GL FRQWLQXR QHOOD VWHVVD GLUH]LRQH DXPHQWDQGR OD YHORFLWj GL VSRVWDPHQWR /D TXDQWLWj GHOOR VSRVWDPHQWR VL SXz DSSUH]]DUH DQFKH WUDPLWH OD YDULD]LRQH GL WRQDOLWj GHO VXR
0RW 5ROO %HFF &RGD 7/ */ */ 3+ 7U 6W V V V V V V V V WLPH */ ,O WULPPDJJLR HQWUR XQD FHUWD PHPRULD q YDOLGR SHU WXWWH OH IDVL GL YROR SURJUDPPDELOL FRPH GHVFULWWR D SDJ 3+ ,O WULPPDJJLR q YDOLGR VROR SHU OD IDVH GL YROR LQ FXL FL VL WURYD QHO PRPHQWR LQ FXL VL DJLVFH VXOOD OHYD GHO WULP 3UHPHUH LQVLHPH cd R ef GHO WDVWR GL GHVWUD &/( $5 SHU FDQFHOODUH LO YDORUH LQVHULWR H ULWRUQDUH DO YDORUH GL GHIDXOW */ &RORQQD 6W 0RW 5ROO %HFF &
,PSRVWD]LRQH GHL FRPDQGL 3URFHGLPHQWR SHU DVVHJQDUH L FRQWUROOL H JOL LQWHUUXWWRUL GHO WUDVPHWWLWRUH ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDO LQWHUU 7RFFDUH EUHYHPHQWH 6(7 VXO WDVWR GL GHVWUD ,QJU ,QJU ,QJU ,QJU QRUPDO */ */ */ */ W\S ²²² ²²² ²²² ²²² RIIVHW ,QVLHPH DJOL VWLFN D GRSSLR DVVH SHU OH IXQ]LRQL GD D LO WUDVPHWWLWRUH P[ +R77 YLHQH IRUQLWR GL VHULH FRQ L VHJXHQWL FRQWUROOL VXSSOHPHQWDUL 'XH LQWHUUXWWRUL
&RORQQD W\S ,Q PRGR DQDORJR DO PHQX 0RGR VWLFN JLj GHVFULWWR TXHVWD FRORQQD VL XVD SHU VFHJOLHUH WUD */ REDO H 3+ DVH VSHFL¿F H YLFH YHUVD ,QJU ,QJU ,QJU ,QJU QRUPDO */ */ */ */ W\S */ 3+ ²²² ²²² ²²² ²²² RIIVHW 8Q GDWR LQJUHVVR HQWUR XQD FHUWD PHPRULD q HIIHWWLYR LQ WXWWH OH IDVL GL YROR FKH VRQR VWDWH SURJUDPPDWH 8Q GDWR LQJUHVVR q YDOLGR H UHJRODELOH VROR SHU OD IDVH GL YROR LQ FXL FL VL WURYD 1RWD 0DJJLRUL LQIRUPD]LRQL VXOOH IDVL GL Y
,QJU ,QJU ,QJU ,QJU 1RUPDO ²FRUVD 3HU UHJRODUH OH FRUVH LQ PRGR DVLPPHWULFR ELVRJQD SRVL]LRQDUH LO UHODWLYR FRPDQGR GHO WUDVPHWWLWRUH FRQ WUROOR URWDWLYR LQWHUUXWWRUH GDOOD SDUWH GHOOD FRUVD FKH VL YXROH UHJRODUH LQ PRGR FKH VLD LQFRUQLFLDWR VROR LO YDORUH LQWHUHVVDWR ,QJU ,QJU ,QJU ,QJU 1RUPDO ²FRUVD 7RFFDUH LO WDVWR 6(7 SHU HYLGHQ]LDUH LO YDORUH QHOOD
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
,PSRVWD]LRQH GHL FRPDQGL 3URFHGLPHQWR SHU DVVHJQDUH L FRQWUROOL H JOL LQWHUUXWWRUL GHO WUDVPHWWLWRUH ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDO LQWHUU 7RFFDUH EUHYHPHQWH 6(7 VXO WDVWR GL GHVWUD ,QJU 0RW *\UR ,QJU ,QJU ,QJU ,QJU /LP */ */ */ */ */ */ */ */ W\S ²²² ²²² ²²² ²²² ²²² ²²² ²²² &W RIIVHW ,QVLHPH DJOL VWLFN D GRSSLR DVVH SHU OH IXQ]LRQL GD D LO WUDVPHWWLWRUH P[ +R77 YLHQH IRUQLWR GL VHU
&RORQQD W\S ,Q PRGR DQDORJR DO PHQX 0RGR VWLFN JLj GHVFULWWR TXHVWD FRORQQD VL XVD SHU VFHJOLHUH WUD */ REDO H 3+ DVH VSHFL¿F H YLFH YHUVD ,QJU 0RW *\UR ,QJU 1RUPDO */ */ */ */ W\S */ 3+ ²²² ²²² ²²² ²²² RIIVHW 8Q GDWR LQJUHVVR HQWUR XQD FHUWD PHPRULD q HIIHWWLYR LQ WXWWH OH IDVL GL YROR FKH VRQR VWDWH SURJUDPPDWH 8Q GDWR LQJUHVVR q YDOLGR H UHJRODELOH VROR SHU OD IDVH GL YROR LQ FXL FL VL WURYD 1RWD 0DJJLRUL LQIRUPD]LRQL VXOOH IDVL GL YROR D S
3HU UHJRODUH OH FRUVH LQ PRGR DVLPPHWULFR ELVRJQD SRVL]LRQDUH LO UHODWLYR FRPDQGR GHO WUDVPHWWLWRUH FRQ WUROOR URWDWLYR LQWHUUXWWRUH GDOOD SDUWH GHOOD FRUVD FKH VL YXROH UHJRODUH LQ PRGR FKH VLD LQFRUQLFLDWR VROR LO YDORUH LQWHUHVVDWR ,QJU 0RW *\UR ,QJU 1RUPDO ²FRUVD 7RFFDUH LO WDVWR 6(7 SHU HYLGHQ]LDUH LO YDORUH QHOOD FR ORQQD VFHOWD H DELOLWDUH OH PRGL¿FKH &RQ OH IUHFFH GL GHVWUD PRGL¿FDUH LO YDORUH ,QJU 0RW *\UR ,QJ
0RW *\UR ,QJU 0RW *\UR ,QJU 1RUPDO */ */ */ */ W\S ²²² ²²² ²²² ²²² RIIVHW ,Q OLQHD GL SULQFLSLR WXWWL L FRPDQGL GHO WUDVPHWWLWRUH PDQRSROD URWDWLYD SURSRU]LRQDOH H JOL LQWHUUXWWRUL VL SRVVRQR DVVHJQDUH DL VLQJROL LQJUHVVL QHO SURJUDPPD SHU (OLFRWWHUR 3HUz ELVRJQD FRQVLGHUDUH FKH DOFXQL LQJUHVVL GLVSRQLELOL LQ TXHVWR PHQX VRQR JLj SUHGH¿QLWL SHU IXQ]LRQL VSHFL¿ FKH GHOO HOLFRWWHUR H TXLQGL QRQ VL SRVVRQR XVDUH VHQ]D OLPLWD]LRQL 3HU HVHPSLR OD VHTXHQ]D GHL F
)XQ]LRQH OLPLWDWRUH GHO PRWRUH YD FKH VL PDQLIHVWD VRWWR IRUPD GL RVFLOOD]LRQL GHOOD FRGD 3HU DYHUH OD PLJOLRU VWDELOL]]D]LRQH GD SDUWH GHO JLURVFRSLR LQ WXWWH OH FRQGL]LRQL VL GRYUHEEH XWLOL]]DUH OD SRVVLELOLWj GL UHJRODUH OD VXD VHQVLELOLWj GDO WUDVPHW WLWRUH /LP &RPH VWDQGDUG LO FRQWUROOR GL LQJUHVVR /LP q DVVH JQDWR DO FRQWUROOR URWDWLYR SURSRU]LRQDOH &75/ FKH VL WURYD LQ DOWR D VLQLVWUD VXO WUDVPHWWLWRUH ,QJU ,QJU ,QJU /LP 1RUPDO */ ²²² */ ²²² */ ²²² */ &W W
&+ 3HU TXHVWR PRWLYR ELVRJQHUHEEH ODVFLDUH LO YDORUH D DOPHQR SHU LO PRPHQWR 4XHVWD OLPLWD]LRQH YDULDELOH GHOOD FRUVD PRWRUH IRUQLVFH XQ PH]]R SUDWLFR SHU DYYLDUH R IHUPDUH LO PRWRUH ,QROWUH TXHVWD IXQ]LRQH RIIUH XQ XOWHULRUH OLYHOOR GL VL FXUH]]D VH SHU HVHPSLR ELVRJQD WUDVIHULUH O HOLFRWWHUR GDL ER[ DOOD OLQHD GL YROR FRQ LO PRWRUH DFFHVR EDVWD SRUWDUH LO FRQWUROOR GHO OLPLWDWRUH DO PLQLPR SHU SUHYHQLUH TXDOVLDVL PRYLPHQWR DFFLGHQWDOH GHOOR VWLFN GHO &+ FKH IDUHEEH DFFHOHUDUH LO PRW
LQ DOWR D GHVWUD DOORUD XQ VLQJROR FOLFN IDUHEEH WRUQDUH VXELWR DO PDUNHU FLRq OD SRVL]LRQH GL PLQLPR SUHVHOH]LR QDWD VL YHGD DQFKH D SDJ ,O WULP SHU OR VSHJQLPHQWR GHO PRWRUH DJLVFH VROR FRPH WULP GHO PLQLPR VH LO FRQWUROOR GHO OLPLWDWRUH VL WURYD QHOOD SDUWH GL VLQLVWUD GHOOD VXD FRUVD FLRq LO PDUNHU q VROR LPSRVWDWR HQWUR TXHVWR FDPSR 8OWLPD SRVL]LRQH GHO PLQLPR Last idle position 3RVL]LRQH DWWXDOH GHO WULP Current trim position GRAUBELE #01 5.
/LPLWDWRUH GHO PRWRUH LQVLHPH DO 7KU $5 QHO PHQX 0RGR VWLFN ,QJU ,QJU ,QJU /LP 1RUPDO ² WLPH 3HU FRPSOHWDUH O LPSRVWD]LRQH WRFFDUH EUHYHPHQWH 6(7 RSSXUH (6& &RPH JLj VSLHJDWR D SDJ VHOH]LRQDQGR 7KU $5 7$ VXOOD ULJD 0RW QHO PHQX « 0RGR VWLFN 0RW 5ROO %HFF &RGD SDJ 7$ */ */ */ 7U 6W V V V V V V V V WLPH « UHQGH DWWLYR LO WULP GLJLWDOH GHO FRPDQGR PRWRUH SDVVR VROR QHOOD IDVH $XWRURW
5LGXWWRUL GL FRUVD ' 5 ([SR SHU DHUHR (VFXUVLRQH YDULDELOH SHU DOHWWRQL HOHYDWRUH H WLPRQH 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH 'XDO 5DWH ([SR ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDOL] LQWHUU 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH $OH (OH 7LP ²²² ²²² ²²² '8$/ 6(/ 4XHVWD IXQ]LRQH SHUPHWWH GL UHJRODUH OH FRUVH GL DOHWWRQL $OH HOHYDWRUH (OH H WLPRQ
$OH ²²² +5 ²²² 0XRYL XQ LQWHUUXWW 65 ²²² LQ SRVL]LRQH 21 '8$/ LQWHUU HVW 6(7 QRUPDO 6(/ $WWHQ]LRQH 3HU PRWLYL GL VLFXUH]]D LO YDORUH GHO ULGXWWRUH ' 5 GHYH HVVHUH DOPHQR LO GHOOD FRUVD WRWDOH (VHPSL GL GLIIHUHQWL YDORUL GL ' 5 (VFXUVLRQH VWLFN 'XDO 5DWH 'XDO 5DWH &RUVD GHO VHUYR 6H VL VFHJOLH OD FRORQQD GL GHVWUD FRQ LO ERUGR LQIHULRUH GHO GLVSOD\ FRQWUDVVHJQDWR FRQ 6(/ H VL DWWLYD LO FDPSR FRQ LO YDORUH WRFFDQGR EUHYHPHQWH 6(7 VL SRVVRQR YDULDUH L YDORUL
3UHPHUH LQVLHPH cd R ef GHO WDVWR GL GHVWUD &/($5 SHU FDQFHOODUH LO YDORUH LQVHULWR H ULWRUQDUH DO YDORUH GL &RUVD GHO VHUYR &RUVD GHO VHUYR &RUVD GHO VHUYR (VFXUVLRQH VWLFN (VFXUVLRQH VWLFN (VFXUVLRQH VWLFN ,Q TXHVWL HVHPSL LO YDORUH GHO 'XDO 5DWH q VHPSUH DO &RPELQD]LRQH GL 'XDO 5DWH HG ([SR 6H VL LPSRVWDQR YDORUL VLD SHU LO 'XDO 5DWH FKH SHU O ([SR OH GXH IXQ]LRQL VL VRYUDSSRQJRQR FRPH VHJXH (VFXUVLRQH VWLFN ([SR ² '5 ([SR '5 ([SR '5
$OH ²²² (OH & 7LP ²²² '8$/ QRUPDO 6(/ , YDORUL GL ([SR VL LPSRVWDQR DOOR VWHVVR PRGR ,PSRVWD]LRQH GHL FRPDQGL DHUHR BP[ B+R77B B,7$ LQGG
5LGXWWRUL GL FRUVD ' 5 ([SR SHU KHOL (VFXUVLRQH YDULDELOH SHU UROOLR EHFFKHJJLR H DQWLFRSSLD 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH 'XDO 5DWH ([SR ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDOL] LQWHUU 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH 5ROO ²²² %HFF ²²² &RGD ²²² '8$/ 6(/ 4XHVWD IXQ]LRQH SHUPHWWH GL UHJRODUH OH FRUVH GL UROOLR 5ROO EHFFKHJJLR 1LFN H
5ROO ²²² 1LFN ²²² 0XRYL XQ LQWHUUXWW 65 ²²² LQ SRVL]LRQH 21 '8$/ LQWHUU HVW 6(7 QRUPDO 6(/ $WWHQ]LRQH 3HU PRWLYL GL VLFXUH]]D LO YDORUH GHO ULGXWWRUH ' 5 GHYH HVVHUH DOPHQR LO GHOOD FRUVD WRWDOH (VHPSL GL GLIIHUHQWL YDORUL GL ' 5 (VFXUVLRQH VWLFN 'XDO 5DWH 'XDO 5DWH 'XDO 5DWH &RUVD GHO VHUYR 6H VL VFHJOLH OD FRORQQD GL GHVWUD FRQ LO ERUGR LQIHULRUH GHO GLVSOD\ FRQWUDVVHJQDWR FRQ 6(/ H VL DWWLYD LO FDPSR FRQ LO YDORUH WRFFDQGR EUHYHPHQWH 6(7 VL S
3UHPHUH LQVLHPH cd R ef GHO WDVWR GL GHVWUD &/($5 SHU FDQFHOODUH LO YDORUH LQVHULWR H ULWRUQDUH DO YDORUH GL &RUVD GHO VHUYR &RUVD GHO VHUYR &RUVD GHO VHUYR (VFXUVLRQH VWLFN (VFXUVLRQH VWLFN (VFXUVLRQH VWLFN ,Q TXHVWL HVHPSL LO YDORUH GHO 'XDO 5DWH q VHPSUH DO &RPELQD]LRQH GL 'XDO 5DWH HG ([SR 6H VL LPSRVWDQR YDORUL VLD SHU LO 'XDO 5DWH FKH SHU O ([SR OH GXH IXQ]LRQL VL VRYUDSSRQJRQR FRPH VHJXH (VFXUVLRQH VWLFN ([SR ² '5 ([SR '5 ([SR '5
5ROO ²²² %HFF & &RGD ²²² '8$/ QRUPDO 6(/ , YDORUL GL ([SR VL LPSRVWDQR DOOR VWHVVR PRGR ,PSRVWD]LRQH GHL FRPDQGL HOLFRWWHUR BP[ B+R77B B,7$ LQGG
&XUYD GHO FDQDOH &DUDWWHULVWLFKH GL FRQWUROOR GHOOR VWLFN PRWRUH DHURIUHQL 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH &XUYD FDQDOH ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDOL] LQWHUU 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH &K &859$ &XUYD RII ,QJU 8VFLWD 3XQWR " QRUPDO 3RLFKp OD ULVSRVWD GHO FDUEXUDWRUH H O HI¿FDFLD GHJOL DHURIUHQL VSHVVR QRQ VRQR OLQHDUL LQ
&DPELDUH L YDORUL GHL SXQWL GL ULIHULPHQWR 6SRVWDUH OR VWLFN ¿QR DG DUULYDUH DO SXQWR FKH LQWHUHVVD FDPELDUH / EDVVR « R + DOWR ,O QXPHUR GL TXHVWR SXQWR H LO VXR YDORUH YHQJRQR YLVXDOL]]DWL $WWL YDUH LO YDORUH WRFFDQGR 6(7 VXO WDVWR GL GHVWUD ,O FDPSR FRQ LO YDORUH GL TXHVWR SXQWR q HYLGHQ]LDWR H VL SXz YDULDUH WUD H VHQ]D LQÀXHQ]DUH L SXQWL GL ULIHULPHQWR YLFLQL (VHPSLR &K &859$ &XUYD RII ,QJU ² 8VFLWD 3XQWR ² 1RUPDO ,Q TXHVWR HVHPSLR LO SXQWR GL ULIHU
&K &859$ &XUYD RII ² ,QJU 8VFLWD 3XQWR 1RUPDO 1RWD /H FXUYH FKH VL YHGRQR TXL VRQR IDWWH VROR D VFRSR GLPRVWUDWLYR H QRQ UDSSUHVHQWDQR XQD UHJROD]LRQH UHDOH ULJXDUGR DOOH FXUYH GHO PRWRUH DHURIUHQL 3HU HVHPSL FKH VL ULIHULVFDQR D VLWXD]LRQL UHDOL VL YHGD GD SDJLQD LQ DYDQWL 4XHVWR SUR¿OR IUDVWDJOLDWR GHOOD FXUYD VL SXz DUURWRQ GDUH DXWRPDWLFDPHQWH SUHPHQGR VHPSOLFHPHQWH XQ SXOVDQWH 3HU SULPD FRVD FRQVLGHUDWR FKH OD VLWXD]LRQH VLD TXHOOD LOOXVWUDWD TXL VRSUD WRFFDUH (6&
&XUYD GHO FDQDOH &DUDWWHULVWLFKH GL FRQWUROOR GHOOR VWLFN PRWRUH SDVVR FROOHWWLYR 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH &XUYD FDQDOH ,PSRVWD] VHUYL 0RGR VWLFN ,PSRV FRQWUROOL 'XDO 5DWH ([SR &XUYD FDQDOH 9LVXDOL] LQWHUU 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH &K &859$ &XUYD RII ,QJU 8VFLWD 3XQWR " QRUPDO 3RLFKp OD ULVSRVWD GHO FDUEXUDWRUH H O HI¿FDFLD GHJOL DHURIUHQL VSHVVR QRQ VRQR OLQHD
PXRYHUH OR VWLFN LQ PRGR FKH OD OLQHD YHUWLFDOH VL DYYLFLQL DO SXQWR LQ TXHVWLRQH $SSHQD TXHVWR SXQWR H LO VXR YDORUH YHQJRQR YLVXDOL]]DWL VXOOD ULJD 3XQWR YHGL O LPPDJLQH TXL VRSUD ELVRJQD SULPD HYLGHQ]LDUH LO YDORUH QXPHULFR D ¿DQFR GL 3XQWR H SRL SUHPHQGR FRQ WHPSRUDQHDPHQWH L WDVWL IUHFFLD cd R ef GL GHVWUD &/($5 VL FDQFHOOD LO SXQWR VHOH]LRQDWR / RSHUD]LRQH VL FRPSOHWD WRFFDQGR (6& VXO WDVWR GL VLQLVWUD &DPELDUH L YDORUL GHL SXQWL GL ULIHULPHQWR 6SRVWDUH OR VWLFN ¿QR DG DUULYDUH DO
$UURWRQGDUH OD FXUYD GHO &DQDOH 1HOO HVHPSLR TXL VRWWR L SXQWL GL ULIHULPHQWR SRVWL DG HVHPSLR VRQR LPSRVWDWL QHO PRGR VHJXHQWH 3XQWR GL ULIHULPHQWR D 3XQWR GL ULIHULPHQWR D 3XQWR GL ULIHULPHQWR D FRPH GHVFULWWR QHOO XOWLPD VH]LRQH &K &859$ &XUYD RII ² ,QJU 8VFLWD 3XQWR 1RUPDO &K &859$ &XUYD RQ ² ,QJU 8VFLWD 3XQWR 1RUPDO 1RWD /H FXUYH FKH VL YHGRQR TXL VRQR IDWWH VROR D VFRSR GLPRVWUDWLYR H QRQ UDSSUHVHQWDQR XQD UHJROD]LRQH UHDOH ULJXDUGR DOOH FXUY
3RVL]LRQH GHJOL LQWHUUXWWRUL 9LVXDOL]]D OD SRVL]LRQH GHJOL LQWHUUXWWRUL 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH 9LVXDO LQWHUU &XUYD FDQDOH 9LVXDO LQWHUU &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL 1RWD /D QXPHUD]LRQH GHJOL LQWHUUXWWRUL GD D D FXL VL ID ULIHULPHQWR TXL FRUULVSRQGH DOO HWLFKHWWDWXUD FKH YLHQH ORUR GDWD VXO FRQWHQLWRUH GHO WUDVPHWWLWRUH &RPXQTXH OD QXPHUD]LRQH GHJOL LQWHUUXWWRUL QRQ KD HIIHWWR QHOOD SURJU
&RPPXWD]LRQH GDL FRPDQGL &RPPXWD]LRQH GHOOH IXQ]LRQL FRQ L FRPDQGL SULQFLSDOL 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH &RPDQGL LQWHUU &XUYD FDQDOH 9LVXDO LQWHUU &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH ,17(55 '$ &20$1'2 ²²² & *E & *E ²²² ²²² & & ²²² 672 6(/ &RQ PROWH IXQ]LRQL LQYHFH GHL VROLWL LQWHUUXWWRUL DYUHEEH SL VHQVR IDUH OD F
$QQXOODUH XQ FRPDQGR FRPH FRPPXWDWRUH 3HU DQQXOODUH OD VHOH]LRQH GL XQ FRPDQGR FRPH FRPPX WDWRUH DUULYDUH ¿QR D TXHVWR SXQWR H SRL« ,17(55 '$ &20$1'2 *E ² ²²² * 0XRYHUH XQ *E * FRQWU R UHJRO ²²² ²²² & & ²²² 672 6(/ « SUHPHUH LQVLHPH cd R ef VXO WDVWR GL GHVWUD &/($5 SHU DQQXOODUH O DVVHJQD]LRQH 'HÀQLUH XQ SXQWR GL FRPPXWD]LRQH 8VDQGR OD IUHFFLD GL GHVWUD R GL VLQLVWUD f SRUWDUVL VXOOD FRORQQD 672 FLRq 672UH PHPRUL]]DUH 3RUWDUH LO FRPDQGR VFHOWR QHOOD SRVL]LRQH YROXWD SHU LO
&RPELQDUH XQ FRQWUROOR GL FRPPXWD]LRQH FRQ XQR GHJOL LQWHUUXWWRUL 6: ,O FRQWUROOR GL FRPPXWD]LRQH VL SXz HVFOXGHUH XWLOL]]DQGR XQ DOWUR LQWHUUXWWRUH H FRVu LQ FHUWH VLWXD]LRQL GL YROR OD IXQ]LRQH VL SXz DWWLYDUH LQ PRGR LQGLSHQGHQWH GDOOD SRVL]LRQH GHO FRQWUROOR H TXLQGL GDOOD SRVL]LRQH GHOO LQ WHUUXWWRUH 3DVVDUH DO FDPSR GHOOD FRORQQD TXHOOD VRSUD DO VLPEROR GHOO LQWHUUXWWRUH 1HO FDVR SL VHPSOLFH EDVWD VFHJOLHUH XQR GHJOL LQWHUUXWWRUL 6: FRPH GHVFULWWR QHOOD VH]LRQH D SDJ
&RPH SURJUDPPDUH XQD IDVH GL YROR ,O FRQFHWWR GL SURJUDPPD]LRQH GHOOD IDVH GL YROR ,QIRUPD]LRQL JHQHUDOL VXOOD IDVH GL YROR 'XUDQWH XQ YROR VL SRWUHEEH DYHUH ELVRJQR GL DSSOLFDUH LPSRVWD]LRQL GLYHUVH DO PRGHOOR HV UHJROD]LRQH GL ÀDS R WULP SHU XQ DHUHR H SDVVR FROOHWWLYR H PRWRUH SHU XQ HOLFRWWHUR SHU XQD SDUWLFRODUH IDVH FRPH GHFROOR DYYLFLQDPHQWR YROR VWD]LRQDULR DXWRURWD]LRQH HFF &RQ LO UDGLRFRPDQGR P[ +R77 VL SXz DFFHGHUH LPPHGLDWDPHQWH D WXWWD XQD VHULH GL UHJROD]LRQL WRFFDQ GR VH
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
,PSRVWD]LRQH GHOOD IDVH &RQ¿JXUD]LRQH GHOOH IDVL GL YROR 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH ,PSRVWD] IDVL &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH (QWUR OD PHPRULD GL XQR VWHVVR PRGHOOR LO UDGLRFR PDQGR P[ +R77 SHUPHWWH OD SURJUDPPD]LRQH GL JUXSSL GLVWLQWL GL UHJROD]LRQL FKH VHUYRQR SHU OH YDULH VLWXD]LRQL FKH V
/DS H XQ LQWHUUXWWRUH 6: L GXH WLPHUV 7LPH H 7LPH KDQQR L VHJXHQWL VLJQL¿FDWL 7LPH 9HQJRQR PLVXUDWL VROR L WHPSL TXDQGR O LQWHUUXWWR UH R LO FRQWUROOR GL FRPPXWD]LRQH DVVHJQDWL VXOOD ULJD 7HPSR JLUR 7DEH GHO PHQX 7LPHUV IDVL YHGL SDJ q FKLXVR /D IUHTXHQ]D FRQ FXL O LQWHUUXWWRUH q DWWLYDWR YLHQH PRVWUDWD QHOOD VFKHUPDWD EDVH 4XHVWR FDPSR GL FRQWHJJLR YLHQH HYLGHQ]LDWR QHO PRPHQWR LQ FXL O LQWHUUXW WRUH GHO WLPHU 7LPH YLHQH DSHUWR H TXLQGL LO WLPHU q IHUPR *5$8%(
)D )D )D )D )D ¾ 1RUPDO 'HFROOR 'LVW ² ² 1RPH V V V V V ,Q WLPH PHQX 0L[HU DOD YHGL SDJ 'L FRQVHJXHQ]D LO SDVVDJJLR WUD L PL[HU VSHFL¿FL SHU OH IDVL QRQ DYYLHQH EUXVFDPHQWH 6H SHUz VL YXROH FKH FHUWL VHUYL VL PXRYDQR VHQ]D ULWDUGR OL VL SXz GH¿QLUH QHO PHQX &DQ QRQ ULWDUGDWL YHGL SDJ 7RFFDUH EUHYHPHQWH 6(7 SHU HYLGHQ]LDUH LO FDPSR GD PRGL¿FDUH 6L SXz VFHJOLHUH LO WHPSR GL ULWDUGR GD H VHFRQGL (VHPSLR )D )D )D )D )D
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
,PSRVWD]LRQH GHOOD IDVH &RQ¿JXUD]LRQH GHOOH IDVL GL YROR 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH ,PSRVWD] IDVL &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH 7LPHUV IDVL 6LPEROR 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH $XWR )D )D )D )D ¾ $XWRURW ² ² ² ² 1RPH ULRUL D VHFRQGL FKH q LO YDORUH FKH VL WURYD GL GHIDXOW 6L SRVVRQR SUHSDUDUH YDULH IDVL FRQ L ORUR QR
OD TXDOH O LQWHUUXWWRUH q DWWLYDWR YLHQH PRVWUDWD QHOOD VFKHUPDWD EDVH 4XHVWR FDPSR GL FRQWHJ JLR YLHQH HYLGHQ]LDWR QHO PRPHQWR LQ FXL O LQWHU UXWWRUH GHO WLPHU 7LPH YLHQH DSHUWR H TXLQGL LO WLPHU q IHUPR 67$5/(7 ©9HORF ª 9 K &URQ 9ROR *LUR .
$WWULEX]LRQH GHOOH IDVL &RQ¿JXUD]LRQH GHOOH IDVL GL YROR 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH $WWULEX] IDVL &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH 7LPHUV IDVL 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH $775,%8=,21( )$6, FRPEL SULRU $ % & ' ( ) QRUPDO 1RWD ,O QRPH GHOOD I
$775,%8=,21( )$6, FRPEL SULRU & ' ( ) $ % 1RUPDO 2UD FKLXGHUH XQR R SL LQWHUUXWWRUL GL TXHOOL FKH VRQR VWDWL DVVHJQDWL H DVVHJQDUH D VXD YROWD LO QRPH GL XQD IDVH GL YROR VFHOWH SULPD QHO PHQX ,PSRVWD] IDVL D TXHVWD SRVL]LRQH GHOO LQWHUUXWWRUH R FRPELQD]LRQH GL SRVL]LRQL 4XL SHU HVHPSLR VL DVVHJQD OD IDVH $FUR ' DOO LQWHUUXWWRUH FKLXVR , GL SULRULWj $ « $775,%8=,21( )$6, SULRU FRPEL & ' ( ) $ % $FUR ' « VH VL YXROH FRPPXWDUH VX TXHVWD IDVH VHQ]D
7ULP IDVL WULPPDJJLR IDVL ,PSRVWD]LRQH GHOOH VLQJROH IDVL 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH 7ULP IDVL &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH ¿ Normal normal 0% ELEV ,Q EDVH DOOD VFHOWD IDWWD VXOOD ULJD $OHW ÀDSV QHO PHQX 7LSR GL PRGHOOR SDJ H QHO PHQX ,PSRVWD] IDVL TXHVWR PHQX UHQGH GLVSRQLELOL XQD
&DQDOL QRQ ULWDUGDWL 5LWDUGR QHOOD FRPPXWD]LRQH GLSHQGHQWH GDO FDQDOH 8VDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VFRUUHUH LO PHQX PXOWLIXQ]LRQH H VFHJOLHUH OD YRFH &DQ QRQ ULWDUG &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL 7ULP IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH &RPDQGL LQWHUU ,PSRVWD] IDVL $WWULEX] IDVL &DQ QRQ ULWDUG 7LPHUV JHQHUDOH 7LPHUV IDVL 7RFFDQGR LO WDVWR 6(7 VL FRQIHUPD OD VFHOWD H VL DSUH LO PHQX VHJXHQWH ,QVHULUH OD IDVH YROXWD FKH YHUUj LQGLFDWD VXOOR VFKHUPR LQ EDVVR
7HPSRUL]]DWRUL WLPHUV , WLPHUV VXOOD VFKHUPDWD LQL]LDOH /D VFKHUPDWD LQL]LDOH GHO WUDVPHWWLWRUH PRVWUD XQ WRWDOH GL WLPHUV (VVL VRQR LO WHPSR RSHUDWLYR GHO WUDVPHW WLWRUH D VLQLVWUD H DOWUL GXH WLPHUV D GHVWUD LQ DOWR GHO GLVSOD\ *5$8%(/( 9 K &URQ 9ROR .
YHQJRQR D]]HUDWL 9ROR WHPSR GL YROR 4XHVWR WLPHU q SUHYLVWR SHU PLVXUDUH LO WHPSR GL YROR VL DYYLD FRQ XQ LQWHUUXWWRUH DVVHJQDWR H VL IHUPD WRFFDQGR (6& VXO WDVWR GL GHVWUD GRSR DYHU ULDSHUWR O LQWHUUXWWRUH FRQ FXL HUD VWDWR DYYLDWR 4XDQGR q LQ 6WRS VL SXz D]]HUDUH WRFFDQGR LQVLHPH cd R ef VXO WDVWR GL VLQLVWUD &/($5 6H VL YXROH DVVHJQDUH OD FRPPXWD]LRQH DG XQ FRQWUROOR GHO WUDVPHWWLWRUH ELVRJQD SULPD GH¿QLUOR QHO PHQX &RPDQGL LQWHUU H VSHFL¿FDUH LQ TXDOH SXQWR GHOOD FRUVD GHYH DYYH
3HU FRQIHUPDUH SUHPHUH 6(7 3UHPHQGR LQVLHPH cd R ef VXO WDVWR PXOWLSOR GL GHVWUD &/($5 VL SRVVRQR D]]HUDUH L YDORUL LPSR VWDWL VLD VX FKH 8QD YROWD WRUQDWL DOOD VFKHUPDWD LQL]LDOH SUHPHQGR (6& SHU LO QXPHUR GL YROWH QHFHVVDULR SUHPHUH LQVLH PH cd R ef GHO WDVWR GL GHVWUD &/($5 SHU D]]H UDUH L WLPHU VH VRQR IHUPL H SHU SDVVDUH DOOD IXQ]LRQH 7LPHU YHGL LQ DOWR D GHVWUD GHOOD ¿JXUD VHJXHQWH *5$8%(/( 9 K &URQ 9ROR .
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
7LPHUV IDVL 6FHOWD H LPSRVWD]LRQH /D VSLHJD]LRQH ULJXDUGR DO PHQX ,PSRVWD] IDVL D SDJ KD JLj GHVFULWWR FRPH DVVHJQDUH L WLPHUV DOOH IDVL GL YROR /D VWHVVD VH]LRQH KD DQFKH GHVFULWWR OH SURSULHWj GL 7LPH H 7LPH 4XHVWD VH]LRQH DGHVVR SURVHJXH GHVFULYHQGR L WLPHU &ON H ROWUH D ODS FRXQWHU WLPHWDEOH ,O WLPHU DJJLXQWLYR VSHFL¿FR GHOOD IDVH GL YROR YLHQH PRVWUDWR QHOOD VFKHUPDWD EDVH VRWWR OD VHFRQGD ULJD FRPH VL YHGH TXL GL VHJXLWR *5$8%(/( ©9HORF ª 9 K &UR
$ODUP WLPHU V 7LPHU V 7LPHU V 7LPHU 7HPSR JLUR 7DEH 0RVWUD JLUR 6(/ 6(/ GHVWUD &/($5 SHU D]]HUDUOR ²²² ²²² ²²² ²²² ²²² ,O FDPSR GL LQVHULPHQWR QHOOD FRORQQD $ODUP YLHQH DWWL YDWR WRFFDQGR 6(7 VXO WDVWR GL GHVWUD ,Q TXHVWR FDPSR FRQ OH IUHFFH VL SXz GH¿QLUH XQ WHPSR WUD H VHFRQ GL FRQ LQFUHPHQWL GL VHFRQGL SULPD FKH LO FRQWHJJLR DUULYL D ]HUR GD TXHVWR SXQWR YLHQH HPHVVR XQ VHJQDOH DFXVWLFR SHU DYYLVDUH FKH LO WHPSR LPSRVWDWR VWD SHU WHUPLQDUH &RVu VL HYLWD
3HU SDVVDUH GDO GLVSOD\ EDVH D TXHOOR FRQ LO FRQWHJJLR GHL JLUL 0RVWUD JLUR « 01 02 03 04 05 06 07 00:00.0 01:23.4 08 00:00.0 02:34.5 09 00:00.0 03:45.6 10 00:00.0 04:56.7 11 00:00.0 05:67.8 12 SEL 00:00.0 06:78.
&RV q XQ PL[HU" )XQ]LRQDPHQWR GL EDVH ,Q PROWL PRGHOOL q XWLOH SRWHU PLVFHODUH YDULH IXQ]LRQL GL FRQWUROOR DG HVHPSLR SHU DEELQDUH JOL DOHWWRQL DO WLPRQH R SHU LQWHUFRQQHWWHUH GXH VXSHU¿FL GL FRQWUROOR FRQWUROODWH GD GXH VHUYL VHSDUDWL ,Q WXWWL TXHVWL FDVL LO ÀXVVR GHO VHJQDOH DOO¶XVFLWD GHOO¶HOHPHQWR GL FRPDQGR VWLFN FRQWUROOR LQWHUUXWWRUH YLHQH VGRSSLDWR GRSR OH IXQ]LRQL FKH UHJRODQR OH FRUVH FRPH 'XDO 5DWH ([SR ,PSRVWD] FRQWUROOL &XUYD FDQDOH HFF LQ PRGR FKH SRVVD DJLUH VXOO¶LQJ
0L[HU DOD SHU DHUHR &DOLEUD]LRQH GHO VLVWHPD GL ÀDS SHU OH DOL 1HOO HOHQFR GHL PHQX « 7LPHUV IDVL 0L[HU DOD 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR « L VXE PHQX H OH RS]LRQL GLVSRQLELOL GLSHQGRQR GDO QX PHUR GL ÀDS H GL DOHWWRQL FKH VL VRQR LPSRVWDWL QHO PHQX 7LSR GL PRGHOOR SDJ « 7,32 ', 02'(//2 0RWRUH VX & QXOOD 1RUPDO 7LSR GL FRGD $OHW IODSV $,/ )UHQR 2II ,Q 6(/ « TXHVWR VLJQL¿FD FKH LQ TXHVWD FRQ¿JXUD]LRQH VRQR SRVVLELOL VROR OH LPSRVWD]LRQL VXOOH IXQ]LRQL H
WUD L FRPDQGL SURSRU]LRQDOL URWDWLYL &75/ « ,O FRQWUROOR VFHOWR DJLVFH GLUHWWDPHQWH VXL VHUYL FROOHJDWL DOOH XVFLWH H GHO ULFHYLWRUH ULVHUYDWH DL ÀDS H VH QHFHVVDULR DQFKH L GXH VHUYL )/ FRO OHJDWL DOOH XVFLWH H FRQVLGHUDQGR FKH L ÀDS FRUULVSRQGHQWL VLDQR JLj VWDWL VSHFL¿FDWL VXOOD ULJD $OHW ÀDSV QHO PHQX 7LSR GL PRGHOOR 4XH VWR FRPDQGR VXO WUDVPHWWLWRUH FRQWUROOD LQGLUHWWD PHQWH OD SRVL]LRQH GHL ÀDS H GHJOL DOHWWRQL WUDPLWH LO YDORUH SHUFHQWXDOH LQVHULWR QHOOD FRORQQD $OH
)XQ]LRQL GHO 0L[HU /H VLQJROH RS]LRQL GHO PHQX 0L[HUV $OD YHQJRQR GLVFXVVH TXL GL VHJXLWR VHSDUDWDPHQWH SHU PRGHOOL FRQ ÀDS VLQJROR GRSSLR R PXOWLSOR 3ULPD GL LQL]LDUH SURSR QLDPR XQD VHULH GL RVVHUYD]LRQL VXO FRPDQGR GLIIHUHQ ]LDOH GL DOHWWRQL H ÀDSV $OHW GLII R 'LII $OHWWRQL GLIIHUHQ]LDWL 0,;(56 $/$ ,PSRVWD] IUHQL $OHW GLII ²²² $/ 7, ²²² (/ $/ 1RUPDO $, 7U $OH 'LII 3RV )/ 1RUPDO QDQGR LO WLPRQH DO FRPDQGR GHJOL DOHWWRQL SHUz TXHVWR FRPSRUWD XQ XOWHU
'LII GLIIHUHQ]LDOH GHL ÀDS $/ 7U $OH 'LII 3RV )/ 1RUPDO )/$3 $/ 7U $OH 'LII 3RV )/ 1RUPDO )/$3 6XOOD ULJD c$/d GHO PHQX PXOWL ÀDS VL SXz LPSRVWDUH O DPSLH]]D GHOO HVFXUVLRQH FRQ FXL L ÀDS DJLVFRQR FRPH DOHWWRQL VHJXHQGR LO PRYLPHQWR GHOOR VWLFN GHJOL DOHWWRQL LO YDORUH YLHQH LQVHULWR FRPH SHUFHQWXDOH ,O YDORUH GLIIH UHQ]LDOH GHL ÀDS ± FKH YLHQH LQVHULWR VXOOD ULJD 'LII GXH ULJKH VRWWR ± ODYRUD LQ PRGR VLPLOH DO GLIIHUHQ]LDOH GHJOL DOHWWRQL FLRq VL SXz ULGX
6H VL DVVHJQD XQ LQWHUUXWWRUH D GXH SRVL]LRQL 6: 6: D TXHVWD IXQ]LRQH VL SRWUj LQVHULUH R GLVLQVHULUH D SLDFLPHQWR O DEELQDPHQWR WUD DOHWWRQL H WLPRQH 6L SXz IDUH OD FRPPXWD]LRQH DQFKH DEELQDQGROD DG XQ FRPDQGR SURSRU]LRQDOH 4XHVWR VLJQL¿FD FKH VL SXz FRPDQGDUH LO PRGHOOR DQFKH XVDQGR VROR JOL DOHWWRQL R VROR LO WLPRQH 4XHVWR PL[HU QRUPDOPHQWH VL LPSRVWD LQ PRGR FKH LO WLPRQH VL VSRVWL GDOOD SDUWH GHOO DOHWWRQH FKH VL DO]D XQD UHJROD]LRQH LQWRUQR DO q SUREDELOH FKH VLD DEED VWDQ]D FR
DQQXOODUH O LPEDUGDWD LQYHUVD FRQ O DLXWR DQFKH GHJOL DOHWWRQL GLIIHUHQ]LDWL H TXHVWD FRPELQD]LRQH SHUPHWWH GL VROLWR GL HVHJXLUH YLUDWH PROWR GROFL IDFLOL GD FRQWUROODUH 2YYLDPHQWH LO WLPRQH VL SXz DQFKH FRQWUROODUH GLUHWWD PHQWH FRQ OR VWLFN D FLz GHGLFDWR ,O FDPSR GL UHJROD]LRQH GL SHUPHWWH GL LPSRVWDUH OD GLUH]LRQH FRUUHWWD GHOOD FRUVD GHO WLPRQH LQ EDVH DQFKH DO YHUVR GL URWD]LRQH GHL VHUYL 6H VL DVVHJQD XQ LQWHUUXWWRUH D GXH SRVL]LRQL 6: 6: D TXHVWD IXQ]LRQH VL SRWUj LQVHULUH
0RGHO W\SH $/( 6H VL q LPSRVWDWR $/( VXOOD ULJD $OHW ÀDSV QHO PHQX 7LSR GL PRGHOOR SDJ DOORUD LO PHQX 0L[HUV $OD VL SUHVHQWHUj QHO PRGR VHJXHQWH 0,;(56 $/$ ,PSRVW IUHQL $OHW GLII $/ ²²² 7, (/ $/ ²²² 1RUPDO 'DOOD SULPD ULJD GL TXHVWD VFKHUPDWD VL SDVVD DO VXE PHQX WRFFDQGR 6(7 « 5HJROD]LRQH GHOO DHURIUHQR 1RWD ,O PHQX ,PSRVWD] IUHQL YLHQH GLVDWWLYDWR RII VH YLHQH VFHOWR 0RWRUH VX & DYDQWL GLHWUR QHO PHQX 7LSR GL PRGHOOR YHGL SDJ H LQVHULWR 6L S
1RWD $QFKH VH VDUHEEH SRVVLELOH LQVHULUH YDORUL QHJDWLYL SHU LQYHUWLUH OD FRUVD GHL VHUYL QRUPDOPHQWH SHUz QRQ q QHFHVVDULR VH VL XVDQR L FDQDOL FRUUHWWL ,O FDPSR GL UHJROD]LRQH GL SHUPHWWH GL LPSRVWDUH OD GLUH]LRQH FRUUHWWD GHOOD FRUVD GHO WLPRQH LQ EDVH DQFKH DO YHUVR GL URWD]LRQH GHL VHUYL 6H VL DVVHJQD XQ LQWHUUXWWRUH D GXH SRVL]LRQL 6: 6: D TXHVWD IXQ]LRQH VL SRWUj LQVHULUH R GLVLQVHULUH D SLDFLPHQWR O DEELQDPHQWR WUD DOHWWRQL H WLPRQH 6L SXz IDUH OD FRPPXWD]LRQH DQFKH DEELQD
7LSR GL PRGHOOR $/( )/ 6H VL q LPSRVWDWR $/( )/ VXOOD ULJD $OHW ÀDSV QHO PHQX 7LSR GL PRGHOOR SDJ DOORUD LO PHQX 0L[HUV $OD VL SUHVHQWHUj QHO PRGR VHJXHQWH 0,;(56 $/$ 0HQX 0XOWL IODS ,PSRVWD] IUHQL $OHW GLII $/ ²²² 7, )/ (/ ²²² 1RUPDO 6H LQYHFH VL q LPSRVWDWR $/( )/ VXOOD ULJD $OHW ÀDSV QHO PHQX 7LSR GL PRGHOOR SDJ DOORUD LO PHQX 0L[HUV $OD VL SUHVHQWHUj QHO PRGR VHJXHQWH WING MIXERS Multi-flap menu Brake settings 0% ––– AI RU 0%
$/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO $/(7 « H VSRVWDQGRVL GL XQ SDVVR D GHVWUD DQFKH WXWWH OH RS]LRQL SHU OH FRSSLH GL ÀDS $/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO )/$3 3HUz QRQ q SRVVLELOH VSRVWDUVL XOWHULRUHPHQWH H GHVWUD SHU YHGHUH OD FRORQQD )/$3 7LSR GL PRGHOOR $,/ )/ 6H VL FROOHJDQR L VHUYL DO ULFHYLWRUH QHO PRGR GHVFULWWR D SDJ VFHJOLHQGROL RSSRUWXQDPHQWH QHO PHQX 7LSR GL PRGHOOR YHGL SDJ DOORUD OH DEEUHYLD]L
$/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO GL PRGHOOR YHGL SDJ DOORUD OH DEEUHYLD]LRQL $/ $/ )/ H )/ VL ULIHULVFRQR DL VHJXHQWL ÀDS VXSHU¿FL PRELOL $, VLQ $, VLQ )/ VLQ )/ VLQ )/ GHV )/ GHV $, GHV $, GHV $/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO )/$3 $/(7 « H VSRVWDQGRVL GL XQ SDVVR D GHVWUD DQFKH WXWWH OH RS]LRQL SHU OD VHFRQGD FRSSLD GL DOHWWRQL $/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO $/(7 « H VS
$/ 7U $OH 'LII 3RV )/ )/ (/ )/ 1RUPDO $/(7 4XLQGL ELVRJQD SULPD VSHFL¿FDUH VXOOD ULJD (/ ¼ )/ TXDO q LO FRQWUROOR GHVLGHUDWR SHU O HOHYDWRUH )DUH DWWHQ]LRQH FKH O DWWLYD]LRQH VX JL DYYHQJD QHOOD JLXVWD VHTXHQ]D 1RWD , VXE PHQX ,PSRVWD] IUHQL VL YHGD QHOOH SURVVLPH SDJLQH q XWLOL]]DELOH SHU LPSRVWDUH OD IXQ]LRQH EXWWHUÀ\ FURZ DQFKH FRQ L PRGHOOL GHOWD H WXWWDOD $I¿QDQGR SRL OH UHJROD]LRQL GL $/( )/ H VH SUHVHQWL )/ VL SXz IDUH LQ PRGR FKH LO PRPHQWR
$/ 7U $OH 'LII 3RV )/ 1RUPDO EDVH DO YHUVR GL URWD]LRQH GHL VHUYL DOHWWRQL H ÀDS 3UHPHUH LQVLHPH cd R ef GHO WDVWR GL GHVWUD &/( $5 SHU ULWRUQDUH DO YDORUH GL GHIDXOW QHL FDPSL HYLGHQ ]LDWL YHGL O LPPDJLQH 3RV )/ $/(7 $/ 7U $OH 'LII 3RV )/ 1RUPDO $/ 7U $OH 'LII 3RV )/ 1RUPDO 3RVL]LRQH GHL ÀDS $/(7 )/$3 6X TXHVWD ULJD VL LPSRVWD LO GLIIHUHQ]LDOH GHJOL DOHWWRQL ROWUH FKH SHU L )/$3 H )/$3 ± VH DQFKH L VHFRQGL VRQR DWWLYDWL FRPH DOHWWRQ
(/ ¼ )/ (OHYDWRUH ¼ ÀDSV 3HU GDUH VXSSRUWR DOO HOHYDWRUH QHOOH YLUDWH VWUHWWH H QHOO DFURED]LD TXHVWR PL[HU TXLQGL LQYLD SDUWH GHO VH JQDOH GHOO HOHYDWRUH DJOL DOHWWRQL /D UHJROD]LRQH SHUPHW WH GL IDU PXRYHUH JOL DOHWWRQL FRPH ÀDSV YHUVR LO EDVVR TXDQGR O HOHYDWRUH YD LQ DOWR H YLFHYHUVD FLRq YDQQR O XQR QHOOD GLUH]LRQH RSSRVWD GHOO DOWUR 3HU LPSRVWDUH GHL YDORUL VLPPHWULFL SRVL]LRQDUH OR VWLFN GHOO HOHYDWRUH QHOOD VXD SRVL]LRQH FHQWUDOH LQ PRGR FKH YHQJDQR LQTXDGUDWL HQWUDPEL L FDPSL 3HU Y
&RORQQD $/(7 3HU IUHQDUH LO PRGHOOR TXDQGR VL DYYLFLQD DOO DWWHUDJ JLR QHVVXQR GHL GXH DOHWWRQL ÀDS GHYH HVVHUH GHÀHV VR YHUVR O DOWR SL GHOOD PHWj GHOOD FRUVD SRVVLELOH LQ PRGR GD DYHUH DEEDVWDQ]D FRUVD SHU SRWHU FRQWUROOD UH LO PRGHOOR VXO VXR DVVH GL UROOLR IXQ]LRQH DOHWWRQL GXUDQWH O DWWHUUDJJLR AI FL FL2 FL2 FL AI &RORQQD )/$3 H )/$3 3HU IUHQDUH LO PRGHOOR TXDQGR VL DYYLFLQD DOO DWWHUDJ JLR VL SRVVRQR LPSRVWDUH HQWUDPEH OH FRSSLH GHL ÀDS FRQ GHÀHVVLRQL GLYHUVH FRPH DG H
1 3 5 7 9 11 +10 0 % 0% 0% 0% +100% 0% + 2 4 6 8 10 12 + 0% 0% 0% 0% 0% 0% 6H TXHVWD YDULDQWH DEEDVWDQ]D VHPSOLFH QRQ IRVVH DSSOLFDELOH SHU XQ TXDOFKH PRWLYR DOORUD O DOWHUQDWL YD VDUHEEH O XWLOL]]R GL GXH PL[HU OLEHUL FKH SRWUHEEH DQFKH FRLQYROJHUH LO PHQX &DQDOH VROR 0L[ YHGL SDJ ,Q RJQL FDVR FRPXQTXH OD FRUVD GHL IUHQL GHYH HV VHUH PHVVD D SXQWR QHO PHQX ,PSRVWD] VHUYL YHGL SDJ 5LG ' 5LGX]LRQH GHO GLIIHUHQ]LDOH ,03267 )5(1, %XWW 5LG ' &XUYD HOHYDW
,Q RJQL FDVR ELVRJQD SURYDUH WXWWH OH LPSRVWD]LRQL IDWWH VWDQGR LQ YROR DG XQD TXRWD DGHJXDWD HG HVHJXLUH O HYHQWXDOH PHVVD D SXQWR 1HO IDUH TXHVWR SHUz VL DEELD VHPSUH O DYYHUWHQ]D GL QRQ IDU GLPLQXLUH WURSSR OD YHORFLWj GHO PRGHOOR TXDQGR JOL DHURIUHQL VRQR FRP SOHWDPHQWH HVWHVL DOWULPHQWL VL ULVFKLD GL DYHUH XQR VWDOOR TXDORUD VL FHUFDVVH GL IDUOL ULHQWUDUH QHO FDVR GL XQ DWWHUUDJJLR WURSSR FRUWR $/ ¼ 7, 0,;(56 $/$ 0HQX PXOWL IODS ,PSRVW IUHQL $/ ²²² 7, )/ (/ ²²² 1RUPDO 0,;(56 $
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
0LVFHOD]LRQL SHU HOLFRWWHUR 5HJROD]LRQL GLSHQGHQWL GDOOD IDVH GL YROR SHU SDVVR FROOHWWLYR PRWRUH H DQWLFRSSLD ,Q TXHVWR PHQX « ,Q FLDVFXQD GL TXHVWH IDVL GL YROR DG HFFH]LRQH GHOO DX WRURWD]LRQH WXWWL L PL[HU WLSLFL GHOO HOLFRWWHUR FKH VL YHGRQR QHOOD ¿JXUD SUHFHGHQWH VRQR GLVSRQLELOL 7XWWH TXHVWH IXQ]LRQL VRQR GHVFULWWH QHOOD SULPD SDUWH GL TXHVWR FDSLWROR 7LPHUV IDVL 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR « YHQJRQR GHVFULWWL WXWWL L PL[HU UHODWLYL DOOH IDVL GL
3DVVR FROOHWWLYR FXUYD SDVVR FROOHWWLYR & ¼ 3DVVR 6FHJOLHUH OD ULJD 3DVVR FRQ cd GL GHVWUD R GL VLQLVWUD H SRL FRQIHUPDUH FRQ 6(7 3DVVR &XUYD RII ,QJU 8VFLWD 3XQWR " 1RUPDO $ GLIIHUHQ]D GHO PHQX &XUYD FDQDOH FRPXQTXH TXHVWD VFKHUPDWD VL ULIHULVFH VROR DOOD FXUYD SHU LO FRQ WUROOR GHO VHUYR GHO SDVVR LQYHFH LO PHQX &XUYD FDQDOH ULJXDUGD WXWWL L VHUYL FRQWUROODWL GDOOR VWLFN GHO PRWRUH SDVVR 'D QRWDUH FKH LO VHJQDOH LQ XVFLWD GDOO RS]LRQH &XU YD FDQDOH IXQ]LRQD FRPH
,Q TXHVWR HVHPSLR LO SXQWR GL ULIHULPHQWR q VWDWR LPSRVWDWR VX &RPXQTXH YROHQGR VL SRVVRQR LPSRVWDUH DQFKH JOL DOWUL SXQWL D SHU HVHPSLR « 3DVVR &XUYD RII ,QJU ² ² 8VFLWD ² 3XQWR 1RUPDO « H XQ SXQWR XOWHULRUH D 3DVVR &XUYD RII ,QJU 8VFLWD 3XQWR 1RUPDO 3HU IDUH TXHVWR EDVWD VSRVWDUH OR VWLFN LQ FRUULVSRQ GHQ]D GHOOD ]RQD YROXWD 4XDQGR FRPSDUH LO " QHOOD FRUQLFH YLFLQR DOOD ULJD 3XQWR VL SXz PRGL¿FDUH LO SXQWR FRUULVSRQGHQWH FRQ OH IUHFFH V
$UURWRQGDUH OD FXUYD GHO SDVVR FROOHWWLYR 1HOO HVHPSLR TXL VRWWR L SXQWL GL ULIHULPHQWR SRVWL DG HVHPSLR VRQR LPSRVWDWL QHO PRGR VHJXHQWH 3XQWR GL ULIHULPHQWR D 3XQWR GL ULIHULPHQWR D 3XQWR GL ULIHULPHQWR D FRPH GHVFULWWR QHOO XOWLPD VH]LRQH 3DVVR &XUYD RII ,QJU ² 8VFLWD ² 3XQWR 1RUPDO 4XHVWR SUR¿OR IUDVWDJOLDWR GHOOD FXUYD VL SXz DUURWRQ GDUH DXWRPDWLFDPHQWH SUHPHQGR VHPSOLFHPHQWH XQ SXOVDQWH 3HU SULPD FRVD FRQVLGHUDWR FKH OD VLWXD]LRQH VLD TXHOOD LOOXVWUD
3URJUDPPD]LRQH QHO GHWWDJOLR BP[ B+R77B B,7$ LQGG 67$5/(7 &URQ 0RWRUH )OXJ ©1RUPDO ªWURSSR DOWR 9 .
OHWWLYR TXDQGR LO FRPDQGR SURSRU]LRQDOH GHO OLPLWDWR UH VL WURYD DO VXR ¿QH FRUVD GL VLQLVWUD LO PRWRUH JLUD DO PLQLPR H ULVSRQGH VROR DO WULP GHO &+ 4XHVWR UHQGH SRVVLELOH DYYLDUH LO PRWRUH GD TXDOVLDVL IDVH GL YROR 4XDQGR LO PRWRUH q DYYLDWR JLUDUH LO FRPDQGR GHO OLPL WDWRUH OHQWDPHQWH ¿QR DOO DOWUR ¿QH FRUVD LQ PRGR GD UHVWLWXLUH LO FRPDQGR GHO PRWRUH DOOR VWLFN GHO PRWRUH FROOHWWLYR 3HU IDUH LQ PRGR FKH LO OLPLWDWRUH GHO PRWRUH QRQ OL PLWL LO VHUYR GHO PRWRUH DO VXR ¿QH FRUVD PDVVLPR EL
+ LQJUHVVR VRQR HQWUDPEL LPSRVWDWL VXOOR VWHVVR YDORUH DG HVHPSLR & 0RWRUH &XUYD RII ² ,QJU 8VFLWD 3XQWR / 1RUPDO , YDORUL GD LPSRVWDUH YDULDQR LQ EDVH DO *RYHUQRU FKH VL XVD H DOOD YHORFLWj GL URWD]LRQH GHVLGHUDWD RYYLDPHQWH TXHVWL YDORUL SRVVRQR FDPELDUH GD XQD IDVH DOO DOWUD 4XDQGR VL VFHJOLH O DXWRURWD]LRQH VL KD XQ SDVVDJ JLR DXWRPDWLFR GD TXHVWR PL[HU DL YDORUL VSHFLÀFL SUHLPSRVWDWL VL YHGD OD VH]LRQH FKH LQL]LD D SDJ & ¼ &RGD &RPSHQVD]LRQH VWDWLFD GH
&RGD¼ PRWRUH 3DVVR & 0RWRUH &RGD & &RGD 0RWRUH 5ROO 0RWRUH 1RUPDO $QWLFRSSLD ! PRWRUH 6(/ 0HQWUH QRUPDOPHQWH LO URWRUH GL FRGD VHUYH D FRP SHQVDUH OD FRSSLD JHQHUDWD GDO URWRUH SULQFLSDOH VXOOD IXVROLHUD VL XVD DQFKH SHU FRQWUROODUH O HOLFRWWHUR LQWRUQR DO VXR DVVH YHUWLFDOH / DXPHQWR GHOOD VSLQWD GHO URWRUH GL FRGD ULFKLHGH DQFKH XQ FRQVHJXHQWH LQFUHPHQWR GHOOD SRWHQ]D PRWRUH SHU HYLWDUH XQD FDGXWD GL YHORFLWj GHO URWRUH SULQFLSDOH 4XHVWR PL[HU VHUYH DG LPSRVWDUH GL TXDQWR LO PRWRUH G
5LGX]LRQH VHQVLELOLWj J\UR %HFF 0RWRUH %HFF &RGD 1DVFRQGL J\UR 5RWD] SLDWWR /LPLWH SLDWWR 1RUPDO 2)) 6(/ ,PSRUWDQWH QHOOH VLWXD]LRQL QRUPDOL TXHVWD IXQ]LRQH QRQ VL GRYUHEEH XVDUH VH LO PRGHOOR q JLj IRUQLWR GL XQ JLURVFRSLR PRGHUQR ,Q TXHVWR FRQWHVWR ELVRJQD HVVHUH FHUWL GL DYHU VHJXLWR FRQ FXUD OH LVWUX]LRQL GHO JLURVFRSLR SRLFKp XQ HUURUH SRWUHEEH UHQGHUH O HOLFRWWHUR LQFRQWUROODELOH 4XHVWR PHQX q VWDWR FRPXQTXH PDQWHQXWR SHU ULVSRQ GHUH D WXWWH OH SRVVLELOL ULFKLHVWH H DELWXG
(VFXUVLRQH GHO &75/ (VHPSLR Í VHQVLELOLWj Î WUR TXHVWL OLPLWL GL FRQWUROOR GHO WUDVPHWWLWRUH 4XL SXUH SHU HVLJHQ]H GL LOOXVWUD]LRQH DEELDPR GLVHJQDWR L YD ORUL GL VHQVLELOLWj GHO J\UR LQ UHOD]LRQH DOOD TXDQWLWj GL FRPDQGR GHO URWRUH GL FRGD SHU YDUL YDORUL GHL SDUD PHWUL GL VRSSUHVVLRQH GHO J\UR GHVWUR VLQLVWUR FHQWUR 6SRVWDPHQWR VWLFN URWRUH FRGD 5HJROD]LRQH GHO JLURVFRSLR 6H VL YXROH UHJRODUH EHQH XQ JLURVFRSLR SHU DYHUH OD PDVVLPD VWDELOL]]D]LRQH GHOO HOLFRWWHUR LQWRUQR DO VXR
QRUPDOPHQWH q TXDGUDWD DG XQR VFKHPD FLUFRODUH 4XHVWR VHUYH D ULVROYHUH L VHJXHQWL SUREOHPL VH O HOLFRWWHUR q LPSRVWDWR LQ PRGR GD DYHUH OH FRUVH PDVVLPH VXJOL DVVL GL UROOLR H GL EHFFKHJJLR FRPH QHO YROR ' DOORUD XQ FRPDQGR VLPXOWDQHR VXL GXH DVVL SRUWD DG DYHUH LO PRYLPHQWR UHDOH SL DPSLR WHRULFD PHQWH ¿QR DO ,Q TXHVWD VLWXD]LRQH LO VLVWHPD PHFFDQLFR GHO SLDWWR IRU]D FRQWUR L VXRL IHUPL H LQ FDVL HVWUHPL JOL DWWDFFKL D VIHUD SRWUHEEHUR VDOWDUH IXRUL GDJOL DOORJJLDPHQWL 1HO WUDV
5HJROD]LRQH GHOOH FXUYH GHO PRWRUH H GHO SDVVR FROOHWWLYR 0HWRGR SUDWLFR 1RWD ,O SXQWR GL KRYHULQJ YROR VWD]LRQDULR GHYH HVVHUH VHPSUH QHOOD SRVL]LRQH FHQWUDOH GHOOR VWLFN PRWRUH SDVVR FROOHWWLYR &RPXQTXH SHU DOFXQL FDVL VSH BP[ B+R77B B,7$ LQGG FLDOL FRPH DG HVHPSLR LO YROR ' SRWUHEEH VHUYLUH LPSRVWDUH LO SXQWR GL KRYHULQJ LQ PRGR GLYHUVR 3HU HVHPSLR XQ SXQWR VRSUD DO FHQWUR SHU LO YROR QRUPD OH H XQR VRWWR DO FHQWUR SHU LO YROR URYHVFLR ,PSRVWD]LRQH GHO PLQLPR H FXUYD GHO PRWR
SXQWR KRYHU XVFLWD D 9HORFLWj GL URWD]LRQH WURSSR EDVVD 5LPHGLR QHOOD SDJLQD GHO JUD¿FR & ¼ PRWRUH DXPHQWDUH LO YDORUH GHO SXQWR XVFLWD SXQWR KRYHU FRUVD GL FRQWUROOR FRUVD GL FRQWUROOR E 9HORFLWj GL URWD]LRQH WURSSR EDVVD 5LPHGLR QHOOD SDJLQD GHO JUD¿FR GHO SDVVR FROOHWWLYR 3LWFK ULGXUUH O LQFLGHQ]D GHOOH SDOH GLPLQXHQGR LO YDORUH GHO SXQWR SXQWR KRYHU FRUVD GL FRQWUR
PHQWH SL LQ EDVVR GHO SXQWR FHQWUDOH DOORUD ELVRJQD ULGXUUH LO SDVVR Ê SUREDELOH FKH VL GHEED FRUUHJJHUH DQFKH LO PRWRUH LQ KRYHULQJ SXQWR GHOOD FXUYD VXO JUD¿FR & ¼ PRWRUH 4XDQGR LO PRGHOOR VFHQGH LQ PRGR DI¿GDELOH FRPH GHVFULWWR SULPD DOORUD VL SDVVD D UHJRODUH LO PLQLPR GHO PRWRUH YDORUH GHO SXQWR / QHO JUD¿FR & ¼ PRWRUH LQ PRGR FKH OD YHORFLWj GL URWD]LRQH UHVWL FRVWDQWH &RQ TXHVWR VL FRPSOHWD OD SURFHGXUD GL UHJROD]LRQH SHU LO PRWRUH H LO SDVVR FROOHWWLYR 4XHVWR JUD¿
0LVFHOD]LRQL SHU HOLFRWWHUR ,PSRVWD]LRQH GHOO DXWRURWD]LRQH / DXWRURWD]LRQH SHUPHWWH D WXWWL JOL HOLFRWWHUL GL DWWHUUDUH LQ VLFXUH]]D QHO FDVR VL SUHVHQWL XQD VLWXD]LRQH FULWLFD FRPH O DUUHVWR GHO PRWRUH R OD URWWXUD GHO URWRUH DQWLFRSSLD 3URSULR LQ TXHVWR FDVR O HPHUJHQ]D VL ULVROYH VSHJQHQGR LO PRWRUH H DWWHUUDQGR LQ DXWRURWD]LRQH HVVHQGR O XQLFR PRGR SHU HYLWDUH XQ LQFLGHQWH FDWDVWUR¿FR FDXVDWR GDOOD URWD]LRQH LQFRQWUROODWD LQWRUQR DOO DVVH YHUWLFDOH 4XHVWD q OD UDJLRQH SHU FXL O HQWUDWD LQ DX
GHUH LO PRWRUH 4XLQGL GXUDQWH O DOOHQDPHQWR ELVRJQD LPSRVWDUH LO YDORUH VX TXHVWD ULJD LQ PRGR FKH LO PRWRUH QRQ VL VSHQJD FRPSOHWDPHQWH PD ULPDQJD DG XQ EXRQ PLQLPR VHQ]D FKH OD IUL]LRQH VL LQVHULVFD LQ TXHVWR PRGR VL SXz GDUH LPPHGLDWDPHQWH PRWRUH SHU LO UHFXSH UR GRSR XQ HPHUJHQ]D ,O PRWRUH HOHWWULFR GHYH HVVHUH VLFXUDPHQWH VSHQWR 1RWD 3RWUHEEH HVVHUH XWLOH XVDUH O RS]LRQH 6WRS PRWRUH QHO PHQX ,PSRVWD] EDVH PRG FRPH XQD IXQ]LRQH DOWHUQDWLYD SHU (PHUJHQF\ 6723 DO WHUUHQR &RQ WUDVPH
1RWH JHQHUDOL VXOOH PLVFHOD]LRQL OLEHUH , GXH PHQX 0L[HU $OD H 0L[HU +HOL YLVWL LQ SUHFH GHQ]D FRQWHQJRQR XQ DPSLD JDPPD GL PLVFHOD]LRQL SURQWH DOO XVR , FRQFHWWL EDVH GL TXHVWL PL[HU VRQR JLj VWDWL VSLHJDWL D SDJ 1HOOH VH]LRQL FKH VHJXRQR YHUUDQQR WUDWWDWL DSSURIRQGLWDPHQWH L PL[HU OLEHUL 'XQTXH LQ DJJLXQWD DL PL[HU SURQWL DOO XVR LO WUDVPHWWL WRUH P[ +R77 KD YDULH PLVFHOD]LRQL OLQHDUL OLEHUD PHQWH SURJUDPPDELOL FKH VL SRVVRQR XVDUH LQ TXDOVLDVL PHPRULD VL SXz VFHJOLHUH VLD LO F
0LVFHOD]LRQL OLEHUH 0L[HU OLQHDUL H FRQ FXUYH 7LPHUV IDVL 0L[HU DOD 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 0HQX PXOWLIXQ]LRQH SHU PRGHOOL GL DHUHR ,QGLSHQGHQWHPHQWH GDO WLSR GL PRGHOOR VHOH]LRQDWR VRQR GLVSRQLELOL PL[HU OLEHUL 0 « 0 SHU RJQXQD GHOOH PHPRULH GL PRGHOOR« M1 M2 M3 M4 M5 Typ 7LPHUV IDVL 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 0HQX PXOWLIXQ]LRQH SHU PRGHOOL GL HOLFRWWHUR 7RFFDUH LO WDVWR 6(7 SHU FRQIHUPDUH HG HQWUDUH LQ TXHVWR PHQX
IU ,Q TXHVWD FRORQQD WRFFDUH 6(7 VXOOD ULJD VHOH]LRQDWD SHU HYLGHQ]LDUH LO FDPSR H SRWHU VHOH]LRQDUH L FDQDOL GD D RSSXUH 6 3HU FKLDUH]]D L FDQDOL GD D VRQR DEEUHYLDWL FRPH VHJXH TXDQGR VL WUDWWD GHO SURJUDPPD SHU DHUHR & 6WLFN PRWRUH DHURIUHQR $, 6WLFN DOHWWRQL (/ 6WLFN HOHYDWRUH 58 6WLFN WLPRQH « H GL TXHOOR SHU HOLFRWWHUR 6WLFN PRWRUH SDVVR FROOHWWLYR 6WLFN UROOLR DOHWWRQH 6WLFN EHFFKHJJLR HOHYDWRUH 6WLFN URWRUH GL FRGD DQWLFRSSLD 1RWD 1RQ GLPHQWLFDUH GL DVVH
(VHPSLR 'XH PL[HU 0,; ¼ H ¼ 7ULP (IIHWWR DOO XVFLWD GHO PL[HU D 6(1=$ FRPPXWD]LRQH LQ VHULH 1HVVXQR /LQHDUH VX WXWWD OD FRUVD GHO WULP $YDQWL (I¿FDFH VROR FRQ OR VWLFN & LQ DYDQWL ,QGLHWUR (I¿FDFH VROR FRQ OR VWLFN & LQGLHWUR 6 6 7 4,8 V MIX 1 7 « R VXOOD ULJD 3DVVR GHO PHQX 0RGR VWLFN SHU PRGHOOL GL HOLFRWWHUL C 577 / HIIHWWR GHO WULP & VXO PL[HU YDULD LQ EDVH DOOD IXQ]LRQH FKH JOL q VWDWD DVVHJQDWD QHO PHQX 7LSR GL PRGHOOR YHGL SDJ VXOOD ULJD 0RWRUH VX &
IDVH GL YROR ± DOORUD ELVRJQD SULPD WRFFDUH 6(7 H XVDUH OH IUHFFH SHU VFHJOLHUH 3 M1 M2 M3 M4 M5 P ty 6 ?? ?? ?? ?? fr 11 ?? ?? ?? ?? to ,Q EDVH DO YDORUH FRQ¿JXUDWR XQ PL[HU SXz FRPH VL YHGH QHOO HVHPSLR TXL VRSUD LQGLUL]]DUH LO VHJQDOH GD XQ FRQWUROOR GHL ÀDS SHU HVHPSLR SUHVHQWH VXOO LQJUHVVR DO FDQDOH GL FRQWUROOR GRYH VL DSSOLFD DQFKH LO WULP GHO )/$3 LPSRVWDWR QHO PHQX 7ULP IDVL SDJ SHU OD ULVSHWWLYD IDVH GL YROR 8OWHULRUL IXQ]LRQL VSHFLDOL GHL PL[HUV OLEHUL 0L[H
WL YDGD D IRU]DUH FRQWUR L ¿QH FRUVD PHFFDQLFL 6H VL GRYHVVH SUHVHQWDUH XQ SUREOHPD VLPLOH q VXI ¿FLHQWH ULGXUUH OD FRUVD GHO VHUYR LQ 7UDYHO OL PLW QHO PHQX ,PSRVWD] VHUYL H R ULGXUUH L YDOR UL GHOOH FRUVH LQ XVFLWD GDO PL[HU 8QD EUHYH SUHVVLRQH VLPXOWDQHD GHL WDVWL ef VXO ODWR VLQLVWUR ID SDVVDUH DOOD YLVXDOL]]D]LRQH JUD¿FD GHL VHUYL 9LVXDOL] VHUYL GDOOD VFKHUPD WD EDVH R GD TXDVL WXWWL L PHQX YHGL SDJ ,Q TXHVWR PRGR VL SRVVRQR YHGHUH JOL HIIHWWL GHOOH UHJROD]LRQL WXWWL
GHO SXQWR QHXWUR GHO PL[HU ± YHGL VRWWR 2IIVHW SL DYDQWL /D OLQHD RUL]]RQWDOH D WXWWD OXQJKH]]D UDSSUHVHQ WD LO UDSSRUWR GL PLVFHOD]LRQH FKH LQ TXHVWR FDVR q SHU WXWWD OD OXQJKH]]D GHOOD FRUVD H TXLQGL O HOHYDWRUH QRQ LQWHUYLHQH TXDQGR VL DEEDVVDQR L ÀDSV 3HU SULPD FRVD GH¿QLUH « 2IIVHW SXQWR QHXWUR GHO PL[HU 3HU GH¿QLUOR VSRVWDUVL FRQ d GL GHVWUD R GL VLQLVWUD VXOOD ULJD 2IIVHW / 0,; ,QJU PL[ 2IIVHW 672 6(7 (/ /D OLQHD YHUWLFDOH WUDWWHJJLDWD LQGLFD OD SRVL]LRQH GHO SX
/ 0,; ,QJU PL[ 2IIVHW ² 672 6(7 (/ 6H VL GRYHVVH RUD SRUWDUH D LO YDORUH GHOO RIIVHW VFHJOLHUH VHPSUH 6(7 XVDQGR LO WDVWR f GL GHVWUD R GL VLQLVWUD FRQIHUPDUH FRQ 6(7 H SRL SUHPHUH LQVLHPH cd R ef GL GHVWUD &/($5 OD VFKHUPDWD VL SUHVHQ WD FRVu / 0,; ,QJU PL[ 2IIVHW 672 6(7 (/ 5DSSRUWR GL PLVFHOD]LRQH DVLPPHWULFR ,Q PROWH DSSOLFD]LRQL q QHFHVVDULR LPSRVWDUH YDORUL GLYHUVL VXL GXH ODWL GHO PL[HU ULVSHWWR DO SXQWR QHXWUR 6L LQL]LD SRUWDQGR D O RIIVH
& 0,; &XUYD RII ,QJU ² 8VFLWD 3XQWR " QRUPDO GL ULIHULPHQWR / RUGLQH LQ FXL YHQJRQR JHQHUDWL L SXQWL PDVVLPR WUD L GXH HVWUHPL / H + QRQ q LPSRUWDQWH SRLFKp L QXPHUL GL ULIHULPHQWR YHQJRQR FRQWLQXDPHQWH ULQXPHUDWL GD VLQLVWUD D GHVWUD PDQ PDQR FKH YHQJRQR LQVHULWL 7RFFDQGR 6(7 DO FHQWUR GHO WDVWR GL GHVWUD ,Q TXHO PR PHQWR LO " YLHQH VRVWLWXLWR GDO QXPHUR FKH LQGLYLGXD LO SXQWR H DOOD VXD GHVWUD LO YDORUH QXPHULFR GHOOD SRVL]LR QH YLHQH HYLGHQ]LDWR & 0,; &XUYD
& 0,; .XUYH 7ULP RIIVHW ,QJU ² 8VFLWD ² 3XQWR QRUPDO & 0,; .
GL GHVWUD SHU VFHJOLHUH OD ULJD VRWWR 2IIVHW H SRL WRF FDUH 6(7 ,Q EDVH DOOD UHJROD]LRQH GHOOD FRUVD VFHOWD QHO PHQX ,PSRVWD] FRQWUROOL H OD SRVL]LRQH GHOO LQ WHUUXWWRUH LO YDORUH GL RIIVHW SDVVD D ; R ; DG HVHPSLR 6 / 0,; ,QJU PL[ 2IIVHW 672 6(7 RQO\ QRUPDO 'LVDFFRSSLDUH LO FRQWUROOR GHO WUDVPHWWLWRUH GDO FDQDOH QHO PHQX &DQDOH VROR PL[ SHU SRWHU VYLQFRODUH LO VHUYR FROOHJDWR DO FDQDOH GHO WUDVPHWWLWRUH GD TXH VWR FRPDQGR 6L YHGD DQFKH SDJ (
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
0,; DWWLYD IDVH 6FHJOLHUH L PL[HUV SHU OH IDVL GL YROR 8VDQGR OH IUHFFH VHOH]LRQDUH 0L[ DWWLYD IDVH GDO PHQX PXOWLIXQ]LRQL SHU DHUHR R SHU HOLFRWWHUR « 7LPHUV IDVL 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 7LPHUV IDVL 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR « 7RFFDUH 6(7 SHU FRQIHUPDUH H IDU DSULUH OD VFKHUPDWD VHJXHQWH 0,; $77,92 ,1 )$6( /LQHDU0 (/ VL /LQHDU0 & (/ VL /LQHDU0 VL /LQHDU0 (/ VL 6 6(/ QRUPDO , PL[HU OLEHUL GHO PHQX
&DQDOH VROR PL[ 6HSDUDUH OH IXQ]LRQL GDL FDQDOL GL FRQWUROOR SHU WXWWH OH IDVL GL YROR 8VDQGR OH IUHFFH VHOH]LRQDUH &DQDOH VROR 0L[ GDO PHQX PXOWLIXQ]LRQL SHU DHUHR R SHU HOLFRWWHUR « « 7LPHUV IDVL 0L[HU DOD 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 7LPHUV IDVL 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR « 7RFFDUH 6(7 SHU FRQIHUPDUH H IDU DSULUH OD VFKHUPDWD VHJXHQWH &$1$/( 62/2 0,; RQO\ QRUPDO ,Q TXHVWR PHQX VL SXz LQWHUURPSHUH LO ÀXVVR QRUPDOH
0L[HU GRSSLR 0LVFHOD]LRQH GL GXH FDQDOL GL FRQWUROOR QHOOR VWHVVR VHQVR H LQ VHQVR RSSRVWR 9 6HUYR & %HVW 1U & 9 7LPRQH GHVWUR HOHYDWRUH 6HUYR 7LPRQH VLQLVWUR HOHYDWRUH %HVW 1U HU GG U 5X YDWR (OH QH 9 WDLO PL[HU &DQDOL GL FRQWUROOR XVFLWH ULFHYLWRUH RUH 7LP (OH RQH YDW RUH YDW ,QJUHVVR IXQ] GL FRQWUROOR (OH 7LPHUV IDVL 0L[HU DOD 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 6WLFN HOHYDWRUH 7LP R 8VDQGR OH IUHFFH VHOH]LRQDUH
WLSR GL SURJUDPPD]LRQH VL SXz FRQ¿JXUDUH XQD FRUVD GLIIHUHQ]LDOH SHU L WLPRQL 3XUH LQ TXHVWR FDVR LO WULP VXOOR VWLFN GHO WLPRQH KD HIIHWWR VX HQWUDPEL L VHUYL 6H q QHFHVVDULR FKH L WLPRQL GHÀHWWDQR YHUVR O HVWHUQR DQFKH TXDQGR VL DWWLYDQR JOL DHURIUHQL DOORUD ELVRJQD DVVHJQD UH OR VWLFN & FRQWUROOR GHO WUDVPHWWLWRUH DOO LQJUHVVR QHO PHQX ,PSRVWD] FRQWUROOL ,Q¿QH SRUWDUVL VXOOD FRORQQD 2IIVHW H UHJRODUQH LO YDORUH ¿QFKp HQWUDPEL L WLPRQL ULWRUQDQR DO SXQWR QHXWUR )DFLOPHQWH VDUj
0LVFHOD]LRQL GHO SLDWWR RVFLOODQWH 0L[HUV SHU SDVVR FROOHWWLYR UROOLR H EHFFKHJJLR 8VDQGR OH IUHFFH VHOH]LRQDUH 0L[HU SLDWWR GDO PHQX PXOWLIXQ]LRQL SHU HOLFRWWHUR « 0L[HU KHOL 0L[HU OLEHUL 0,; DWWLYD IDVH &DQDOH VROR PL[ 0L[HU GRSSLR 0L[HU SLDWWR « 7RFFDUH 6(7 SHU FRQIHUPDUH H IDU DSULUH OD VFKHUPDWD VHJXHQWH 0,;(5 3,$772 3DVVR 5ROO %HFF 6(/ 1RWD 6H q VWDWR VHOH]LRQDWR VHUYR VXOOD ULJD 3LDWWR RVFLOO GHO PHQX 7LSR GL KHOL TXHVWD RS]LRQH QRQ YHUUj YLVXDOL]]DWD QHO PHQX PX
FDXVD GL XQD IRUWH LQWHUIHUHQ]D HVWHUQD 4XHVWR SUR FHGLPHQWR GLSHQGH GD YDULH LPSRVWD]LRQL FKH VDUDQQR GHVFULWWH SL DYDQWL LQ TXHVWD VH]LRQH 3HU HVHPSLR LO ULFHYLWRUH HOLPLQD EUHYL LQWHUIHUHQ]H GRYXWH D EXFKL QHOO LQWHQVLWj GL FDPSR R DG DOWUL IHQRPHQL VLPLOL FKH YHQ JRQR QRUPDOPHQWH FKLDPDWL JOLWFKHV LPSXOVL HUUDWL 4XDQGR VXFFHGH TXHVWR LO /(' URVVR GHO ULFHYLWRUH VL DFFHQGH 6H QRQ VL q DQFRUD SURJUDPPDWR LO IDLO VDIH QHOOD PHPR ULD DWWLYD DO PRPHQWR GHOO DFFHQVLRQH VXOOR VFKHUPR GHO
0RGR 7UDLQHU PDHVWUR DOOLHYR &RPH FROOHJDUH GXH WUDVPHWWLWRUL SHU OD VFXROD GL SLORWDJJLR 6FHJOLHUH 0DHVWUR DOOLHYR GDO PHQX 0XOWLIXQ]LRQH XVDQGR OH IUHFFH GL GHVWUD R GL VLQLVWUD 0L[HU GRSSLR ,PSRV IDLO VDIH 0DHVWUR DOOLHYR 6FDPE FDQDOL 7[ 7HOHPHWULD ,PSRVWD EDVH 7[ 0HQX PXOWLIXQ]LRQH SHU PRGHOOL GL DHUHR 0L[HU SLDWWR ,PSRV IDLO VDIH 0DHVWUR DOOLHYR 6FDPE FDQDOL 7[ 7HOHPHWULD ,PSRVWD EDVH 7[ 0HQX PXOWLIXQ]LRQH SHU PRGHOOL GL HOLFRWWHUR 7RFFDUH 6(7 SHU FRQIHUPDUH H IDU DSULUH OD VFKHUPD
PHPRULD GHL GXH WUDVPHWWLWRUL +R77 TXHVWR VLJQL¿FD FKH WXWWH OH IXQ]LRQL LQFOXVL WULP H PL[HUV GHYRQR HVVHUH SHUIHWWDPHQWH LGHQWLFKH VLD VXO WUDVPHWWLWRUH P[ +R77 GHO PDHVWUR FKH VX TXHOOR GHOO $OOLHYR ,O ULFHYLWR UH +R77 VXO PRGHOOR LQ TXHVWLRQH GHYH DQFKH HVVHUH FRQQHVVR ERXQG DO WUDVPHWWLWRUH GHO 0DHVWUR SRLFKp TXHVW XOWLPR GHYH SRWHU FRQWUROODUH LO PRGHOOR DQFKH LQ PRGDOLWj $OOLHYR ,O WUDVPHWWLWRUH 0DHVWUR P[ +R77 '(9( 6(035( (66(5( $&&(62 3(5 35,02 62/2 $//25$ 6, 38Ò &211(77(5( ,/
'D QRWDUH FKH QRQ WXWWL L FDYL SRVVRQR HVVHUH HWLFKHWWDWL 0 H 6 1RWD LPSRUWDQWH Ê LQGLVSHQVDELOH FRQWUROODUH FKH WXWWH OH IXQ]LRQL VLDQR WUDVIHULWH FRUUHWWDPHQWH VXO PRGHOOR 35,0$ GL XVDUH OD IXQ]LRQH 7UDLQHU 6H VL XVD XQ FDYR 7UDLQHU FRQ XQ FRQQHWWRUH D SROL SHU QHVVXQ PRWLYR FROOHJDUH XQR GHL GXH FDSL FRQWUDVVHJQDWL 6 R 0 DG XQD SUHVD '6& SRLFKp QRQ q DGDWWD D TXHVWR VFRSR /D SUHVD '6& q DGDWWD VROR DL FRQQHWWRUL FRQ SROL 3URYDUH LO VLVWHPD $JLUH VXOO LQWHUUXWWRUH 7UDLQHU
2SHUD]LRQL LQ PRGR WUDLQHU FRQ LO WUDVPHWWLWRUH P[ +R77 (VVHQGR OD QRVWUD JDPPD GL SURGRWWL LQ FRQWLQXD HVSDQVLRQH SHU HVVHUH DJJLRUQDWL FRQYLHQH YLVLWDUH LO VLWR ,QWHUQHW ZZZ JUDXSQHU GH 7UDVPHWWLWRUH 0DHVWUR P[ +R77 77 7UDVPHWWLWRUH $OOLHYR P[ +R77 +R77 &DYR WUDLQHU $UW 1U &DYR WUDLQHU $UW 1U &DYR WUDLQHU $UW 1U &DYR WUDLQHU $UW 1U 0 7UDVPHWWLWRUH 0DHVWUR FRQ SUHVD '6& P[ +R77 P[ +R77 P[ +R77 6 7UDVPHWWLWRUH 0DHVWUR FRQ PRGXOR
6LVWHPD +R77 VHQ]D FDYL GL FROOHJDPHQWR ,O VLVWHPD 7UDLQHU FRQ LO UDGLRFRPDQGR P[ +R77 SXz IXQ]LRQDUH DQFKH WUDPLWH XQD FRQQHVVLRQH VHQ]D ¿OL ,Q TXHVWR FDVR LO WUDVPHWWLWRUH GHO 0DHVWUR VL GHYH FRQQHWWHUH FRQ LO WUDVPHWWLWRUH GHOO $OOLHYR FRPH YLHQH GHVFULWWR TXL GL VHJXLWR &RPXQTXH LO PRGHOOR WUDLQHU VL GHYH GDSSULPD FRQQHWWHUH DO WUDVPHWWLWRUH GHOO $OOLHYR 4XHVWD FRQ¿JXUD]LRQH VL SXz DWWXDUH IUD WUDVPHWWLWRUL FKH KDQQR O RS]LRQH ELQG QHO PHQX 7HDFKHU SXSLO 3UHSDUD]LRQH DO PRGR WUDLQHU
7UDVPHWWLWRUH GHO 0DHVWUR )LQR D IXQ]LRQL GL FRQWUROOR GHO WUDVPHWWLWRUH PDHVWUR 0DHV VL SRVVRQR WUDVIHULUH DO WUDVPHWWLWRUH GHOO DOOLHYR $OOLHYR VLD LQGLYLGXDOPHQWH FKH LQ TXDOVLDVL FRPEL QD]LRQH /D ULJD LQIHULRUH VXOOR VFKHUPR GHQRPLQDWD 0DHV TXLQGL VL ULIHULVFH DL FRQWUROOL GHO WUDVPHWWLWRUH FROOHJDWL LQ SHUPDQHQ]D DJOL LQJUHVVL IXQ]LRQL FROOHJDWH DL GXH VWLFN D GRSSLR DVVH VLD SHU DHUHL FKH SHU HOLFRWWHUL H DL FRQWUROOL &75/ FKH VRQR DVVHJQDWL R SRVVRQR HVVHUH D
$SSHQD VL FRQFOXGH OD SURFHGXUD HQWUDPEL JOL VFKHUPL PRVWUDQR 21 DO SRVWR GHO PHVVDJJLR %,1',1* ODPSHJJLDQWH 75$,1(5 $OOLHYR ² $OOLHYR Ä0DHV , %,1' 21 75$,1(5 0DHVWUR UH WUD LO 0DHVWUR H O $OOLHYR DOWULPHQWL O HIIHWWLYD SRUWDWD GHO VLVWHPD YLHQH ULGRWWD ,QROWUH VL SUHJD GL QRWDUH FKH OD IXQ]LRQH 7UDLQHU VHQ]D FDYR VIUXWWD OD FRQQHVVLRQH GRZQOLQN H TXLQGL QRQ q SRVVLELOH XWLOL]]DUH OD WHOHPH WULD /D VFKHUPDWD EDVH GHO WUDVPHWWLWRUH 0DHVWUR QHOOD PRGDOLWj 7UDLQHU
6H VL VFHJOLH $77 FRQ L WDVWL IUHFFLD GL GHVWUD R GL VLQLVWUD H VL FRQIHUPD FRQ 6(7« 3UHJR VFHJOL WUDLQHU OLQN" $77 ,1$ « DOORUD YLHQH ULSULVWLQDWD OD FRQQHVVLRQH SUHFHGHQWH WUD L GXH WUDVPHWWLWRUL 9DOH OD VWHVVD FRVD DQFKH VH LO WUDVPHWWLWRUH q FRQ¿JXUD WR FRPH $OOLHYR 3URJUDPPD]LRQH QHO GHWWDJOLR BP[ B+R77B B,7$ LQGG
6FDPELR FDQDOL 7; 6FDPELDUH OH XVFLWH VXO WUDVPHWWLWRUH 6FHJOLHUH 6FDPELR FDQDOL 7[ GDO PHQX 0XOWLIXQ]LRQH SHU DHUHL R SHU HOLFRWWHUL XVDQGR OH IUHFFH GL GHVWUD R GL VLQLVWUD 0L[HU SLDWWR ,PSRV IDLO VDIH 0DHVWUR DOOLHYR 6FDPE FDQDOL 7[ 7HOHPHWULD ,PSRVWD EDVH 7[ 0L[HU SLDWWR ,PSRV IDLO VDIH 0DHVWUR DOOLHYR 6FDPE FDQDOL 7[ 7HOHPHWULD ,PSRVWD EDVH 7[ 7RFFDUH 6(7 SHU FRQIHUPDUH HG HQWUDUH QHOO RS]LRQH VHJXHQWH 6FDPELR FDQDOL 7[ 3HU DYHUH OD PDVVLPD ÀHVVLELOLWj QHOO DVVHJQDUH OH XVFLWH VXO ULF
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
7HOHPHWULD ,O PHQX 7HOHPHWULD VL XVD SHU ULFKLDPDUH H SURJUDP PDUH L GDWL GL WUDVPHWWLWRUH H ULFHYLWRUH ROWUH DOOD WUDVPLV VLRQH D WHUUD LQ WHPSR UHDOH GHL GDWL UHJLVWUDWL D ERUGR GHO PRGHOOR FRQ GHL VHQVRUL RS]LRQDOL YHGL $SSHQGLFH , GDWL UDFFROWL GDO ULFHYLWRUH VRQR LQYLDWL DO WUDVPHWWLWRUH DWWUDYHUVR LO FDQDOH GL GRZQOLQN FROOHJDPHQWR YHUVR WHUUD GHO ULFHYLWRUH +R77 6L SXz FROOHJDUH XQ VHQVRUH DOO LQJUHVVR GHOOD WHOHPHWULD GHL VHJXHQWL ULFHYLWRUL *5 6 +R77 &RG 1U *5 +R7
,PSRVWD]LRQH H YLVXDOL]]D]LRQH GDWL 7HOHPHWULD , YDUL PHQX UDJJUXSSDWL VRWWR OD YRFH 7HOHPHWULD VL SRVVRQR ULFKLDPDUH GDOOD VFKHUPDWD LQL]LDOH GHO WUDVPHW WLWRUH P[ +R77 WHQHQGR SUHPXWR LO WDVWR (6& SHU FLUFD XQ VHFRQGR 8Q PHWRGR DOWHUQDWLYR q GL SUHPHUH 6(7 SHU HQWUDUH QHO PHQX PXOWL IXQ]LRQL SHU DHUHL RG HOLFRWWHUL H VFHJOLHUH OD YRFH 7HOHPHWULD FRQ OH IUHFFH 0L[HU GRSSLR ,PSRV IDLO VDIH 0DHVWUR DOOLHYR 6FDPE FDQDOL 7[ 7HOHPHWULD ,PSRVWD EDVH 7[ 0L[HU SLDWWR ,PSRV IDLO VDIH 0DHVWUR D
/ 5 92/7 0LQLPD WHQVLRQH RSHUDWLYD GHO ULFHYLWRUH LQ 9ROW GDOO XOWLPD DFFHQVLRQH 6(1625 0RVWUD L YDORUL GHO VHQVRUH RS]LRQDOH LQ 9ROW H & 6(1625 0RVWUD L YDORUL GHO VHQVRUH RS]LRQDOH LQ 9ROW H & 4XDOLWj GHO VHJQDOH 6 48$ / LQIRUPD]LRQH VXOOD TXDOLWj GHO VHJQDOH 6 48$ YLHQH LQYLDWD LQ GLUHWWD DO WUDVPHWWLWRUH DWWUDYHUVR LO FDQDOH GL GRZQOLQN GHO ULFHYLWRUH H PRVWUD OD TXDOLWj GHO VHJQDOH LQ ,QWHQVLWj GHO VHJQDOH ULFHYXWR 6 GEP /D SUHVWD]LRQH GHO ULFHYLWRUH 6 G%P YLHQH PRVWU
5; 6(592 5; 6(592 287387 &+ 5(9(56( 2)) &(17(5 VHF 75,0 ² VHF /,0,7² /,0,7 3(5,2' PVHF 3ULPD GL IDUH PRGL¿FKH DL YDORUL GL TXHVWD VFKHUPDWD ELVRJQD OHJJHUH REEOLJDWRULDPHQWH OH LQIRUPD]LRQL D SDJ 9DORUH 'HVFUL]LRQH 3RVVLELOH UHJROD]LRQH 287387 &+ &DQDOH VFHOWR GD D VHFRQGR LO ULFHYLWRUH 5(9(56( ,QYHUVLRQH VHUYL 2)) 21 &(17(5 &HQWUR GHL VHUYL LQ V 6H DWWLYR HYLGHQ ]LDWR VHFRQGR OD SRVL]LRQH GHO FRPDQGR VXO 7; 3RVL]LRQH
DWWHUUDUH FKLVVj GRYH VHQ]D FDXVDUH JURVVL GDQQL 3HUz VH O LQWHUIHUHQ]D DUULYD QHO SRVWR H QHO PRPHQWR VEDJOLDWR DOORUD XQ PRGHOOR D PRWRUH SRWUHEEH GLYHQWDUH LQFRQWUROODELOH YLDJJLDQGR VHOYDJJLDPHQWH DWWUDYHUVR LO FDPSR GL YROR H PHWWHQGR VHULDPHQWH LQ SHULFROR SLORWL H VSHWWDWRUL 3HU TXHVWR PRWLYR ELVRJQHUHEEH FRQVLGHUDUH GL SUR JUDPPDUH DOPHQR GL PDQGDUH LO PRWRUH DO PLQLPR R VSHQWR SHU HYLWDUH LO SHJJLRUH GL TXHVWL ULVFKL 'RSR TXHVWR DYYHUWLPHQWR SUHVHQWLDPR XQD EUHYH GHVFUL]LRQH GHOOH
3HU RJQXQR GHJOL 287387 &+ VFHOWL SUHVH SHU L VHUYL VXO ULFHYLWRUH VL SXz VFHJOLHUH WUD )$, / 6$)( ,Q FDVR GL LQWHUIHUHQ]D GRSR LO ULWDUGR LPSRVWDWR VXO OD ULJD '(/$< LO VHUYR FRUULVSRQGHQWH VL SRUWD QHOOD SRVL]LRQH LQGLFDWD VXOOD ULJD 326,7,21 SHU WXWWD OD GXUDWD GHOO LQWHUIHUHQ]D +2/' ,Q FDVR GL LQWHUIHUHQ]D XQ VHUYR LPSRVWDWR FRPH +2/' PDQWLHQH OD VXD XOWLPD SRVL]LRQH ULWHQXWD FRUUHWWD SHU WXWWD OD GXUDWD GHOO LQWHUIHUHQ]D 2)) 6H VL LPSRVWD 2)) LQ FDVR GL LQWHUIHUHQ]D
5; )$,/ 6$)( 287387 &+ ,1387 &+ 02'( 2)) ) 6 326 VHF '(/$< VHF )$,/ 6$)( $// 12 326,7,21 VHF 5; )$,/ 6$)( 287387 &+ ,1387 &+ 02'( 2)) ) 6 326 VHF '(/$< VHF )$,/ 6$)( $// 12 326,7,21 VHF 5; )$,/ 6$)( 287387 &+ ,1387 &+ 02'( )$, 6$)( ) 6 326 VHF '(/$< VHF )$,/ 6$)( $// 12 326,7,21 VHF ,Q TXHVWR FDVR OD SUHVD GHO VHUYR ULVSRQGHUHEEH LQ DFFRUGR FRQ OH LPSRVWD]LRQL GL )DLO 6DIH SHU &+
9 7$,/ FRGD D 9 ,Q TXHVWL WLSL GL PRGHOOR L SLDQL GL FRGD VRQR SRVWL D 9 FRQ XQ DQJROR GL FLUFD H VRQR D]LRQDWL GD GXH VHUYL VHSDUDWL FKH RSSRUWXQDPHQWH PLVFHODWL WUD GL ORUR VYROJRQR OD GRSSLD IXQ]LRQH GL HOHYDWRUH H GL WL PRQH , GXH VHUYL VRQR QRUPDOPHQWH FROOHJDWL DO ULFHYLWRUH LQ TXHVWR PRGR 287387 &+ VHUYR GHOO LPSHQQDJJLR GL VLQLVWUD 287387 &+ VHUYR GHOO LPSHQQDJJLR GL GHVWUD 6H VL QRWD FKH L VHUYL JLUDQR QHO YHUVR VEDJOLDWR VL SUHJD GL YHGHUH OH QRWH D SDJ
5; &859( &859( &+ 7<3( $ &859( &+ 7<3( $ &859( &+ 7<3( % 6H VL LJQRUDVVH TXHVWR L GXH DOHWWRQL GL GHVWUD H VLQLVWUD DYUHEEHUR GXH FDUDWWHULVWLFKH GL IXQ]LRQDPHQWR GLYHUVH /D IXQ]LRQH 5; &859( VL XVD SHU JHVWLUH OH FDUDWWHULVWL FKH GL FRQWUROOR ¿QR D WUH VHUYL &859( R &+ 6FHJOLHUH LO FDQDOH GL FRQWUROOR GHVLGHUDWR ,1387 &+ SHU LO SULPR VHUYR /D VHJXHQWH LPSRVWD]LRQH LQ 7<3( LQWHUHVVD VROR LO FDQDOH VHOH]LRQDWR D TXHVWR SXQWR 7<3( 6FH
5; 6(592 7(67 $//²0$; VHF $//²0,1 VHF 7(67 67$57 $/$50 92/7 9 $/$50 7(03 & $/$50 7(03² ² & &+ 287 7<3( 21&( 7RFFDUH 6(7 SHU DYYLDUH OD VHTXHQ]D GL WHVW LO FDPSR DGHVVR GD HYLGHQ]LDWR WRUQD QRUPDOH 5; 6(592 7(67 $//²0$; VHF $//²0,1 VHF 7(67 67$57 $/$50 92/7 9 $/$50 7(03 & $/$50 7(03² ² & &+ 287 7<3( 21&( 3HU IHUPDUH L VHUYL ULDWWLYDUH LO FDPSR FRPH GHVFULWWR SULPD SRL VFHJOLHUH 6723 H FRQIHUPDUH FRQ 6(7 $/$50 92/7 DYYHUWLPHQWR SHU
ELVRJQD IDUH SDUWLFRODUH DWWHQ]LRQH DOO DOLPHQWD ]LRQH GHOO LPSLDQWR ULFHYHQWH &RQVLGHUDQGR FKH O DYYLR FRQWHPSRUDQHR GL VHUYL SURFXUD XQ FDULFR SLXWWRVWR SHVDQWH OD EDWWHULD GHYH HVVHUH SDUWLFRODU PHQWH SRWHQWH 6802 VRPPD GHO VHJQDOH 287 5; 6(592 7(67 $//²0$; VHF $//²0,1 VHF 7(67 67$57 $/$50 92/7 9 $/$50 7(03 & $/$50 7(03² ² & &+ 287387 7<3( 6802 8Q ULFHYLWRUH +R77 FRQ¿JXUDWR FRPH 6802 JHQHUD FRVWDQWHPHQWH TXHOOR FKH q FRQRVFLXWR FRPH VRPPD GL VHJQDO
GDWD LQ SDUWLFRODUL FLUFRVWDQ]H SHU HVHPSLR TXDQGR VL GRYHVVH PRQWDUH XQR GHL GXH ULFHYLWRUL LQ XQD SRVL ]LRQH VIDYRUHYROH RSSXUH FL IRVVH LO ULVFKLR GL SHUGH UH LO VHJQDOH LQ SDUWLFROL DVVHWWL GHO YROR PDJDUL GRYX WL D WXUELQH VWUXWWXUH LQ FDUERQLR R SUREOHPL VLPLOL SHU L TXDOL FL VL DVSHWWD GL DYHUH SUREOHPL 3HU TXHVWR PRWLYR q HVVHQ]LDOH FROOHJDUH OH IXQ]LRQL GL FRQWUROOR SL LPSRUWDQWL DO ULFHYLWRUH SULPDULR TXHO OR SURJUDPPDWR FRPH 680, GL PRGR FKH XQ HYHQ WXDOH LQWHUIHUHQ]D DO ULFHYLWRUH
6&(/7$ '(/ 6(1625( 6FHJOLHUH OD ULJD GHO PHQX XVDQGR OH IUHFFH cd GL GHVWUD R GL VLQLVWUD 7(/(0(75,$ 7(/ 5&9 UFY FK 5(*2/$ 9,68$/,==$ 6&(/7$ 6(1625( 02675$ 67$72 5) $77,9$ 92&( 3RL FRQIHUPDUH FRQ 6(7 SHU DSULUH LO VXE PHQX 6&(/7$ 6(1625( 5,&(9,725( 02'8/2 *(1(5$/ 02' (/(&75,& $,5 02'8/2 9$5,2 *36 ,Q TXHVWR VXE PHQX VL VFHJOLH OD ULJD GHVLGHUDWD FRQ OH IUHFFH cd GL GHVWUD R GL VLQLVWUD SRL WRFFDQGR 6(7 VL SXz DWWLYDUH R GLVDWWLYDUH O XVFLWD GHL GDWL GL XQ FHUWR VHQVRUH FROOHJDWR DO ULFHYLW
67$72 '(/ 6(*1$/( 5) 6FHJOLHUH OD ULJD GHO PHQX XVDQGR OH IUHFFH cd GL GHVWUD R GL VLQLVWUD « 7(/(0(75,$ 7(/ 5&9 UFY FK 5(*2/$ 9,68$/,==$ 6&(/7$ 6(1625( 02675$ 67$72 5) $77,9$ 92&( « 3RL FRQIHUPDUH FRQ 6(7 SHU DSULUH LO VXE PHQX 4XHVWR IRUQLVFH OD YLVXDOL]]D]LRQH GHOOD TXDOLWj GHOOD FRQQHVVLRQH GHO WUDVPHWWLWRUH H GHO ULFHYLWRUH 5 6 6' ( 5' 9& 90 $%&'( 5LJD VXSHULRUH ,QWHQVLWj GHO VHJQDOH LQ G%P VXL FDQDOL GD D LQ EDQGD *+] SURYHQLHQWH GDO ULFHYLWRU
$77,9$=,21( 92&( 6FHJOLHUH OD ULJD GHO PHQX FRQ OH IUHFFH cd GL GHVWUD R GL VLQLVWUD 7(/(0(75,$ 7(/ 5&9 UFY FK 5(*2/$ 9,68$/,==$ 6&(/7$ 6(1625( 02675$ 67$72 5) $77,9$ 92&( 3RL FRQIHUPDUH FRQ 6(7 SHU DSULUH LO VXE PHQX 5,3(7( $77,9$ 92&( 5,3(7( 6(& $77,9$ 9$5,2 75$16)(5 5,&(9,725( ²²² ²²² ²²² ,O VHJQDOH DXGLR q GLVSRQLELOH VXO MDFN (DUSKRQH VROR TXDQGR YLHQH DVVHJQDWR XQ LQWHUUXWWRUH VXOOD ULJD 5,3(7( 4XHVWR YLHQH IDWWR VHFRQGR OH PRGDOLWj GHOOD VH]LRQH $VVHJQD]LRQH GHJOL LQWHUUXWWRUL
6(1625( 4XHVWD ULJD VL YHGH VROR VH VL q JLj DWWLYDWR XQ VHQVRUH QHO VXE PHQX 6&(/7$ 6(1625( 7; 92/7 7(032 02' 7(032 %$77 7,0(5 *( 683 7,0(5 *( &(1752 7(032 5,&(9,725( 6FHJOLHUH OD ULJD GHO PHQX FRQ OH IUHFFH cd GL GHVWUD R GL VLQLVWUD« $77,9$ 92&( 5,3(7( 6(& $77,9$ 9$5,2 75$16)(5 5,&(9,725( 6(1625( « 3RL FRQIHUPDUH FRQ 6(7 SHU DSULUH LO VXE PHQX 7(03 )25=$ 92/7 5; 92/7 0,1 ,Q TXHVWR PHQX VL SXz VHOH]LRQDUH R GHVHOH]LRQDUH LO PHVVDJJLR YRFDOH VXOOD ULJD VFH
,PSRVWD]LRQL GL EDVH ,PSRVWD]LRQL GL EDVH GHO WUDVPHWWLWRUH 6FHJOLHUH ,PSRVWD] EDVH 7[ GDO PHQX 0XOWLIXQ]LRQH SHU DHUHL R SHU HOLFRWWHUL XVDQGR OH IUHFFH GL GHVWUD R GL VLQLVWUD 7HOHPHWULD ,PSRVWD] EDVH 7[ 9LVXDOL]]D VHUYL 7HVW VHUYL &RGLFH DFFHVVR ,QIRUPD]LRQL 3RL FRQIHUPDUH FRQ 6(7 SHU DSULUH TXHVWR PHQX ,03267$= %$6( 7; 3UR 0RGR SLORW 330 8VFLWD '6& GLHWUR 3DVVR PLQ &RQWUDVWR LOOLP 5HWURLOOXP VL %HHS DFFHQVLRQH 1L 0+ 7LSR EDWWHULD 9 $YYLVR EDWWHULD $YYLVR DFFHQV LOOLP 6HQVLE
7RFFDUH 6(7 SHU HYLGHQ]LDUH LO QXPHUR GHO 0RGR DWWXD OH 2UD FRQ L WDVWL IUHFFLD GL GHVWUD VFHJOLHUH O RS]LRQH GHVLGHUDWD GD D 7RFFDQGR LQVLHPH cd R ef GL GHVWUD &/($5 VL ULWRUQD DOOD LPSRVWD]LRQH LQL]LDOH H FLRq 0RGH 7RFFDQGR GL QXRYR 6(7 VL GHVHOH]LRQD LO FDPSR H VL SXz SURFHGHUH D VHOH]LRQDUH OH OLQHH VXFFHVVLYH SHU DOWUH LPSRVWD]LRQL 0RGL GL SLORWDJJLR SHU DHUHL DOHWWRQH D VLQ WLPRQH D VLQ DOHWWRQH D VLQ PRWRUH PLQ PRWRUH PLQ HOHY LQ EDVVR WLPRQH D VLQ DOHWWRQH D VLQ
*5$8%(/( 9 K *5$8%(/( 9 K &URQ 9ROR ©QRUPDO ª . +R77 9 0 &URQ 9ROR ©QRUPDO ª .
$YYLVR DFFHQV DYYLVR GL DFFHQVLRQH SUROXQJDWD ,03267$= %$6( 7; VL %HHS DFFHQVLRQH 1L 0+ 7LSR EDWWHULD 9 $YYLVR EDWWHULD $YYLVR DFFHQV LOOLP 6(/ 6X TXHVWD ULJD VL SXz GHWHUPLQDUH TXDQWR WHPSR LO WUDVPHWWLWRUH GHEED DVSHWWDUH GRSR O XOWLPR PRYLPHQWR GL XQ FRPDQGR SULPD GL DWWLYDUH XQ DYYLVR DFXVWLFR H YLVLYR SULPD FKH LO WUDVPHWWLWRUH VL VSHQJD DXWRPDWLFD PHQWH XQ PLQXWR SL WDUGL , YDORUL GLVSRQLELOL VRQR LOOLP LWDWR VHPSUH DFFHVR H PLQXWL 3UHPHQGR LQVLHPH L W
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
9LVXDOL]]D VHUYL 0RVWUD OD SRVL]LRQH GHL VHUYL 'DO PHQX PXOWLIXQ]LRQH SRVL]LRQDUVL VXOOD YRFH 9LVXDOL]]D VHUYL FRQ L WDVWL IUHFFLD 7HOHPHWULD ,PSRVWD] EDVH 7[ 9LVXDOL]]D VHUYL 7HVW VHUYL &RGLFH DFFHVVR ,QIRUPD]LRQL 7RFFDUH LO WDVWR 6(7 SHU VHOH]LRQDUOD &RPXQTXH VL SXz DFFHGHUH DQFKH GLUHWWDPHQWH D TXH VWR PHQX SUHPHQGR LQVLHPH L GXH WDVWL ef GL VLQLVWUD QRQ VROR GDOOD VFKHUPDWD LQL]LDOH PD DQFKH GD TXDVL WXWWL L PHQX 7RFFDQGR LO WDVWR (6& VL ULWRUQD DO SXQWR GD FXL VL q SDUWLWL 1 3 5 7 9 11
7HVW VHUYL 3URYD GHL 6HUYL « 'DO PHQX PXOWLIXQ]LRQH SRVL]LRQDUVL VXOOD YRFH 7HVW VHUYL FRQ L WDVWL IUHFFLD 7HOHPHWULD ,PSRVWD] EDVH 7[ 9LVXDOL]]D VHUYL 7HVW VHUYL &RGLFH DFFHVVR ,QIRUPD]LRQL 7RFFDUH LO WDVWR 6(7 SHU VHOH]LRQDUOD H DSULUH TXHVWR PHQX 7(67 6(59, DFW RII V 3HU TXHVWR WHVW VL SXz DWWLYDUH TXDOVLDVL LQJUHVVR VHOH]LRQDQGROR FRQ OH VROLWH IUHFFH GL GHVWUD R GL VLQLVWUD H SRL WRFFDQGR 6(7 $SSHQD VL SRUWD DQFKH XQR VROR GHJOL LQJUHVVL VX DFW
&RGLFH DFFHVVR %ORFFDUH LO PHQX PXOWLIXQ]LRQH 'DO PHQX PXOWLIXQ]LRQH SRVL]LRQDUVL VXOOD YRFH &RGLFH DFFHVVR FRQ L WDVWL IUHFFLD 7HOHPHWULD ,PSRVWD] EDVH 7[ 9LVXDOL]]D VHUYL 7HVW VHUYL &RGLFH DFFHVVR ,QIRUPD]LRQL « 7RFFDUH LO WDVWR 6(7 SHU VHOH]LRQDUOD H DSULUH TXHVWR PHQX &2',&( $&&(662 6FHJOL QXRYR QXPHUR VHJUHWR B 6(7 &RQ XQ FRGLFH GL FLIUH VL SXz EORFFDUH LO PHQX PXOWLIXQ]LRQH SHU HYLWDUQH O XVR QRQ DXWRUL]]DWR ,O FRGLFH q FRPSRVWR GDL QXPHUL GD D GD LQVHULUH FRQ OH
&2',&( $&&(662 6FHJOL QXRYR 0HPRUL]]D VHFUHW QXPEHU ¾¾¾¾ QHVVXQR ¾¾¾¾ B 6(7 &RQVLJOLR 6H VL YROHVVH IDUH D PHQR GL EORFFDUH OD SURJUDPPD]LRQH VL SRWUHEEH HYHQWXDOPHQWH WRJOLHUH TXHVWR PHQX GDOO HOHQFR GHOOH YDULH IXQ]LRQL FRQ 1DVFRQGL PHQX LQ PRGR FKH SHUVRQH QRQ DXWRUL]]DWH SRVVDQR LQVHULUH XQ FRGLFH VHJUHWR GL QDVFRVWR 2UD VL SXz ODVFLDUH TXHVWR PHQX WRFFDQGR EUHYHPHQWH (6& VXO WDVWR GL VLQLVWUD /DVFLDUH LQ PHQX VHQ]D LQVHULUH LO FRGLFH VHJUHWR 6L YXROH ODVFLDUH LO PHQX DSHU
,QIRUPD]LRQL 'DWD RUD ,' GHO WUDVPHWWLWRUH H VFKHGD GL PHPRULD 'DO PHQX PXOWLIXQ]LRQH SRVL]LRQDUVL VXOOD YRFH ,QIRU PD]LRQL FRQ L WDVWL IUHFFLD 7HOHPHWULD ,PSRVWD] EDVH 7[ 9LVXDOL]]D VHUYL 7HVW VHUYL &RGLFH DFFHVVR ,QIRUPD]LRQL « 7RFFDUH LO WDVWR 6(7 SHU VHOH]LRQDUOD H DSULUH TXHVWR PHQX $%&'() 5),' YHU ILUPZDUH /XQ GDWD V RUD 6' &DUG 0% 0% GLVSRQLELOH 4XHVWR PHQX PRVWUD OH LQIRUPD]LRQL VSHFL¿FKH UHODWLYH DO WUDVPHWWLWRUH DOFXQH GHOOH TXDOL VL SRVVRQR PR
2UD 6FKHGD GL PHPRULD 6' FDUG 5),' $%&'() YHU ILUPZDUH /XQ GDWD V RUD 6' &DUG 0% 6H QHFHVVDULR XVDUH OH IUHFFH GL GHVWUD R GL VLQLVWUD SHU VHOH]LRQDUH TXHVWD ULJD H L FDPSL GL RUH PLQXWL H VHFRQGL H SRL SUHPHUH 6(7 SHU HYLGHQ]LDUH LO YDORUH GD PRGL¿FDUH FRQ OH IUHFFH GL GHVWUD 8QD QXRYD SUHVVLRQH VX 6(7 FRQIHUPD H FRQFOXGH O LQVHULPHQWR GDWL 'D QRWDUH FKH L VHFRQGL QRQ VRQR PRGL¿FDELOL GLUHW WDPHQWH PD VL SRVVRQR VROR SRUWDUH D WRFFDQGR 6(7 1RWD /D GDWD
P[ +R77 WHFQLFKH GL SURJUDPPD]LRQH 3UHSDUD]LRQH GL XQ PRGHOOR GL DHUHR FRPH HVHPSLR 3URJUDPPD]LRQH GHL GDWL VX GL XQ P[ +R77 « « q SL IDFLOH GL TXDQWR SRWUHEEH VHPEUDUH D SULPD YLVWD & q XQD UHJROD EDVH FKH YDOH SHU WXWWL L UDGLRFRPDQGL SURJUDPPDELOL H QRQ VROR SHU O P[ +R77 SHU SURFHGHUH QHOOD SURJUDPPD]LRQH LQ PRGR VSHGLWR H VHQ]D SUREOHPL SHU SULPD FRVD L FRPSRQHQWL GHO VLVWH PD ULFHYHQWH GHYRQR HVVHUH LQVWDOODWL FRUUHWWDPHQWH LQ SDUWLFRODUH LO VLVWHPD PHFFDQLFR GHL FRPDQGL 4XHVWR
H SRL SHUIH]LRQDQGROH H VSHFLDOL]]DQGROH SHU FRPSOH WDUH O LPSRVWD]LRQH 'RSR OD SURYD GL YROR LQL]LDOH H QHO FRUVR GHOOH VXFFHVVLYH SURYH SRWUHEEH VHUYLUH IDUH GHOOH UHJROD]LRQL VX DOFXQH LPSRVWD]LRQL GHO PRGHOOR 0DQ PDQR FKH O DELOLWj GHO SLORWD DXPHQWD DXPHQWDQR DQFKH OH HVLJHQ]H H TXLQGL OD QHFHVVLWj GL HVSDQGHUH LO VLVWHPD R IDUH GHL SHUIH]LRQDPHQWL 0DJDUL FHUWH FRQVLGHUD]LRQL QRQ VRQR HVSRVWH QHOO RUGLQH SL RYYLR RSSXUH DOFXQH VRQR FLWDWH SL GL XQD YROWD ' DOWUR FDQWR SRWUHEEH FDSLWDUH
,QL]LDUH D SURJUDPPDUH XQ QXRYR PRGHOOR (VHPSLR PRGHOOR GL DHUHR FRQ GXH DOHWWRQL H LQL]LDOPHQWH VHQ]D PRWRUH $OOR VFRSR GL LQL]LDUH D SURJUDPPDUH XQ QXRYR PRGHOOR VL VFHJOLH LO PHQX « ,PSRVWD] EDVH 7[ SDJ ,03267$= %$6( 7; 3UR + - 6 D Q G E U X Q Q H U 0RGR SLORW 330 8VFLWD '6& GLHWUR 3DVVR PLQ &RQWUDVWR LOOLP 5HWURLOOXP VL %HHS DFFHQVLRQH 1L 0+ 7LSR EDWWHULD 9 $YYLVR EDWWHULD $YYLVR DFFHQV LOOLP 6HQVLE WRFFR 3DHVH (XUR 9ROXPH YRFH 9ROXPH %HHS « SHU LQVHULUH
LQ FDVR GL HUURUH VL SXz VHPSUH FRUUHJJHUH FDQFHO ODQGR TXHOOD PHPRULD 6H OD WHQVLRQH GHOOD EDWWHULD IRVVH WURSSR EDVVD QRQ VL SXz FDPELDUH PHPRULD SHU PRWLYL GL VLFXUH]]D H VXOOR VFKHUPR FRPSDUH LO PHVVDJJLR DSSURSULDWR LPSRVVLELOH RUD WHQVLRQH WURSSR EDVVD 'RSR DYHU VXSHUDWR TXHVWR RVWDFROR LQL]LDOH VDUHEEH XWLOH FRQQHWWHUH ELQG LO ULFHYLWRUH PRQWDWR VXO PRGHOOR GD SURJUDPPDUH « ,PSRVWD] EDVH PRG SDJ « /D FRQQHVVLRQH VL ID DQGDQGR VXOOD ULJD 5) ELQG ,03267$= %$6( 02' *5$8%(
7,32 ', 02'(//2 QXOOD 0RWRUH VX & 1RUPDO 7LSR FRGD $OHW IODSV $,/ ,Q )UHQL 2II 6(/ 7LSR FRGD 1RUPDO &RGD 9 'HOWD WD R (/6Y $OHW ÁDSV R $/( VHUYL DQG R )/ VHUYL 3RLFKp VL YXROH JRYHUQDUH XQ VLVWHPD GL DHURIUHQL GHO VXEPHQX ,PSRVW IUHQL VRWWR LO PHQX 0L[HUV $OD FRQ OR VWLFN & ODVFLDPR O LPSRVWD]LRQH DOO HVWUHPD GHVWUD QHO )UHQL RII LPSRVWDWR VX ,Q &RQ LO YDORUH GHOO RI IVHW DOOD VLQLVWUD GL TXHVWR VL GRYUHEEH VROR PHWWHUH LO SXQWR QHXWUR GH
OLPLWL GHOOD FRUVD QRQ GHYRQR HVVHUH HFFHVVLYL DOWULPHQWL LO WLPRQH DYUj VHPSUH XQD FRUVD HFFHVVLYDPHQWH ULGRWWD PRGHOOR FRQ VROR GXH VHUYL QHOO DOD LO PHQX 0XOWL ÀDS FKH LQL]LD D SDJLQD QRQ YLHQH PRVWUDWR 0,;(56 $/$ ,PSRVWD] IUHQL $OHW GLII $/ ²²² 7, (/ ²²² $/ QRUPDO /D VH]LRQH ,PSRVWD]LRQH GHJOL VWLFN QRQ LQWHUHVVD VROR L SLORWL GL PRGHOOL FRQ PRWRUH SDJ &K $OHW (OHY 7LP */ */ */ */ 7U 6W V V V V V V V V ,03267 )5(1, RII WLPH
(/ )UHQR &XUYD RQ ,QJU ² 8VFLWD ² 3XQWR ² 1RUPDO 'RSR HVVHUH XVFLWL GD ,PSRVWD] )UHQL ELVRJQD LPSR VWDUH 'LIIHUHQ]LDOH DOHWWRQL 4XHVWR VHUYH SHU HOLPLQDUH OD FRVLGGHWWD LPEDUGDWD LQYHUVD ,QIDWWL O DOHWWRQH FKH YD YHUVR LO EDVVR JHQHUD XQD UHVLVWHQ]D PDJJLRUH GL TXHOOR FKH YD YHUVR O DOWR TXLQGL O DHUHR WHQGH D YLUDUH GDOOD SDUWH VEDJOLDWD 3HU HYLWDUH TXHVWR LQVHUHQGR XQD GLIIHUHQ]LD]LRQH VL ID LQ PRGR FKH OD FRUVD GHOO DOHWWRQH FKH YD YHUVR LO EDVVR VLD LQIHULRUH GL TXHOOD YH
'RSR GL TXHVWR ELVRJQD GH¿QLUH LO FRPSRUWDPHQWR GHO ULFHYLWRUH QHO FDVR VL YHUL¿FKL XQ JXDVWR )DLO VDIH SDJ )$,/ 6$)( 3RV KROG 5,7 V 672 ,Q TXHVWR FDVR QRQ IDUH QXOOD q OD SHJJLRU FRVD FKH VL SRVVD IDUH SHU XQ PRGHOOR GL DHUHR 1HOOD LPSRVWD]LRQH GL EDVH LO WUDVPHWWLWRUH VL WURYD LQ KROG LO FKH VLJQL¿FD FKH LO ULFHYLWRUH PDQWLHQH L VHUYL GHO PRGHOOR QHOO XOWLPD SRVL]LRQH FRUUHWWD ULFHYXWD 6H GRYHVVH FDSLWDUH XQ LQWHUIHUHQ]D FRQ LO PRGR KROG DWWLYR H VH
3URJUDPPDUH XQ DOLDQWH FRQ PRWRUH HOHWWULFR ,QJU ,QJU ,QJU ,QJU */ */ */ */ ²²² ²²² ²²² ²²² W\S 8Q PRWRUH HOHWWULFR VL SXz FRQWUROODUH LQ YDUL PRGL ,O SL VHPSOLFH q TXHOOR GL XVDUH OR VWLFN GHO PRWRUH DHURIUHQL & 3HUz QHOOD SURJUDPPD]LRQH SUHFHGHQWH DEELDPR JLj ULVHUYDWR LO & SHU FRQWUROODUH JOL DHURIUHQL LO FKH VLJQL¿FD FKH GREELDPR HVSORUDUH DOWUH SRVVLELOLWj SHU FRQWUROODUH LO PRWRUH XQD VROX]LRQH q TXHOOD GL XVDUH XQ LQWHUUXWWRUH FRPH YLHQH GHVFULWWR QHOOD VH]LRQH FKH
VFHOWR GRSR XQ EUHYH ULWDUGR VL YHGUj FRPSDULUH &RQ WURO HYLGHQ]LDWR ,QJU ,QJU ,QJU ,QJU */ ²²² */ ²²² */ ²²² */ &W W\S RIIVHW &RPXQTXH SRLFKq LO PRWRUH GRYUHEEH HVVHUH GLVSRQL ELOH LQ RJQL IDVH GL YROR UDFFRPDQGLDPR GL LPSRVWDUH */ JOREDOH QHOOD FRORQQD 7\SH FRPH JLj GHWWR SULPD LQ TXHVWD VWHVVD VH]LRQH 6H QHFHVVDULR SHU IDUH OH RSSRUWXQH UHJROD]LRQL GHOOD FRUVD GL FRQWUROOR GHO PRWRUH UHJRODWRUH HOHWWURQLFR GL YHORFLWj XVDUH XQD GHOOH IUHFFH SHU
IDVL H $WWULEX] IDVL OH LPSRVWD]LRQL GHVFULWWH SUL PD VL GHYRQR IDUH DOOR VWHVVR PRGR SHU RJQL IDVH ,Q FDVR FRQWUDULR FL VL SRWUHEEH FKLHGHUH SHUFKp LO PR WRUH LQL]L D JLUDUH D PHWj SRWHQ]D DSSHQD VL FDP ELD XQD IDVH GL YROR PD QRQ UHDJLVFH DL PRYLPHQWL GHOO LQWHUUXWWRUH « (VHPSLR 8VDUH XQ LQWHUUXWWRUH D SRVL]LRQL 6: R 4XHVWD YDULDQWH UHDOL]]D XQD IXQ]LRQH SXUDPHQWH 21 2)) 'DO ODWR GHO ULFHYLWRUH q VXI¿FLHQWH XQ VHPSOLFH LQWHU UXWWRUH HOHWWURQLFR R VH VL GHVLGHUD XQ DYYLR GROFH G
&RQWUROODUH LO PRWRUH HOHWWULFR H LO VLVWHPD EXWWHUÁ\ FURZ XVDQGR OR VWLFN & (VHPSLR 3ULPD GL LQL]LDUH OD SURJUDPPD]LRQH GL TXHVWR TXDUWR HVHPSLR H FXUDUH O HVSDQVLRQH GHO SURJUDPPD GL EDVH GL FXL FL VLDPR RFFXSDWL SULPD ELVRJQD FRQVLGHUDUH EUHYHPHQWH OD SRVL]LRQH GHOOR VWLFN GHO &+ QHO FDVR GL PRWRU 2)) R IUHQR 2)) 1RUPDOPHQWH TXHVWR VWLFN YLHQH VSLQWR LQ DYDQWL SHU DFFHOHUDUH H WLUDWR LQGLHWUR SHU DSULUH JOL DHURIUHQL 3HUz VH VL DGRWWD TXHVWD FRQ¿JXUD ]LRQH FODVVLFD SDVVDQGR GD P
)D )D )D )D )D ¾ 1RUPDO ² $WWHUU ² 6WUHFNH ² ² 1RPH &ON ID 7LP $OORUD LO WLPHU YLHQH FRQWUROODWR GDO SXQWR GL FRPPXWD ]LRQH GD GH¿QLUH VXOOD FRUVD GHOOR VWLFN & 4XDQGR VL SDVVD DOOD IDVH $WWHUUDJJLR TXHVWR WLPHU YLHQH DXWR PDWLFDPHQWH IHUPDWR H QDVFRVWR VXOOD VFKHUPDWD EDVH 8OWHULRUL GHWWDJOL VL WURYDQR D SDJ 2UD FL VL VSRVWD GDOOD FRORQQD )D 7LP VXOOD GHVWUD DOOD FRORQQD 0RWRU 4XL VL SXz GHFLGHUH FRQ VL QR LQ TXDOH IDVH LO PRWRUH YHQJD FRQWUROODWR GDOOR VWLF
&RQ LO PL[HU &XUYD HOHYDW OD QRUPDOH WHQGHQ]D D FDEUDUH FKH KD LO PRGHOOR TXDQGR VL DO]DQR JOL DOHWWRQL VL SXz FRPSHQVDUH DXWRPDWLFDPHQWH , YDORUL DSSURSULDWL GL FRUUH]LRQH VL GHYRQR WURYDUH FRQ RSSRUWXQH SURYH GL YROR 4XHVWR PL[HU YD LPSRVWDWR LQ PRGR FKH OD YHORFLWj GL YROR QRQ FDPEL WURSSR WUD OD FRQ¿JXUD]LRQH QRUPDOH H TXHOOD FRQ L IUHQL HVWHVL $OWULPHQWL FL VDUHEEH LO ULVFKLR WUD OH DOWUH FRVH FKH LO PRGHOOR YDGD LQ VWDOOR GXUDQWH OD IDVH GL DYYLFLQDPHQWR DOO DWWHUUDJJLR 6H ¿QR D TX
&RQWUROODUH LO PRWRUH HOHWWULFR H JOL VSRLOHU XVDQGR OR VWLFN & (VHPSLR 6H FRQWUDULDPHQWH DOOH LSRWHVL GHO SUHFHGHQWH HVHPSLR KDQQR LQ SL DQFKH JOL VSRLOHU R VROR JOL VSRLOHU VL SRVVRQR LQVHULUH QHO FRQWUROOR GHO PRGHOOR FRQ OD VHJXHQWH SURJUDPPD]LRQH 3HU TXHVWD QHFHVVLWj SURJUDPPDUH L PHQX 7LSR GL PRGHOOR ,PSRVWD] IDVL H $WWULEX] IDVL DOOR VWHVVR PRGR GHVFULWWR QHOO HVHPSLR /H LPSRVWD]LRQL GHVFULWWH QHO VXEPHQX ,PSRVWD] IUHQL GHO PHQX 0L[HU DOD SHUz ULJXDUGDQR VROR O XVR
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
$]LRQDPHQWR GHL WLPHU FRQ XQ FRPDQGR R XQ LQWHUUXWWRUH (VHPSL H GHOOH SDJLQH SUHFHGHQWL 6H VL GHFLGH GL FRQWLQXDUH FRQ OD SURJUDPPD]LRQH GHO PRGHOOR GHVFULWWR QHOOH SDJLQH SUHFHGHQWL FRQ O (VHPSLR SDJ R SDJ R VL LQWHQGH XVDUH OR VWLFN & PRWRUH IUHQR SHU XQD UHJROD]LRQH GHOOD SRWHQ]D FRPSOHWDPHQWH LQGLSHQGHQWH VL SXz XVDUH XQ FRPDQGR SHU DYYLDUH R IHUPDUH LO WLPHU 3HU SULPD FRVD ELVRJQD DQGDUH DO PHQX « &RPDQGL LQWHUU SDJ « H FRQ OH IUHFFH VFHJOLHUH XQD ULJD FKH QRQ
,17(55 '$ &20$1'2 ²²² & &W ² & ²²² ²²² & & ²²² 672 6(/ 1RWD 2UD LPSRVWDUH LO SXQWR GL FRPPXWD]LRQH PD QRQ SLD]]DUOR LQ XQD SRVL]LRQH OLPLWH GHO FRPDQGR SHUFKp LQ TXHVWR FDVR QRQ VL DYUHEEH XQD FRPPXWD]LRQH VLFXUD ,O & XVDWR LQ TXHVWR HVHPSLR GHYH HVVHUH FKLXVR QHOOD GLUH]LRQH GL PDVVLPR PRWRUH H DSHUWR VRWWR DO SXQWR GL FRPPXWD]LRQH 2UD SDVVDUH DO PHQX 7LPHUV JHQ SDJ « H FRQ OH IUHFFH VFHJOLHUH OD ULJD 7RS DOOD TXDOH L 7LP HUV VRQR DVVHJQDWL
6HUYL IXQ]LRQDQWL LQ SDUDOOHOR 6L KD VSHVVR ELVRJQR GL XQ VHFRQGR VHUYR FKH IXQ]LRQL LQ SDUDOOHOR FRPH TXDQGR ÀDS R VSRLOHU PRQWDWL QHOO DOD HOHYDWRUH GLYLVR LQ GXH GRSSLR WLPRQH GHYRQR IXQ]LRQD UH LQVLHPH RSSXUH TXDQGR VRQR QHFHVVDUL GXH VHUYL SHU FRQWUROODUH XQ JURVVR WLPRQH FKH ULFKLHGH XQ QRWHYROH VIRU]R ,QL]LDOPHQWH TXHVWR SUREOHPD YHQLYD ULVROWR VXO PRGHOOR PRQWDQGR XQD SUROXJD D < &RPXQTXH TXHVWR VLVWHPD KD OR VYDQWDJJLR FKH L GXH VHUYL FROOHJDWL QRQ VL SRVVRQR UHJRODUH GDO WUDVPHWWLWR
VHUYL FRPH DO VROLWR QHO PHQX ,PSRVW VHUYL 'XH WLPRQL 9RJOLDPR DEELQDUH GXH WLPRQL LQ SDUDOOHOR ,O VHFRQGR WLPRQH VDUj FROOHJDWR DOO XVFLWD GHO ULFHYLWRUH 9DULDQWH 1HO PHQX « 0L[HU LQFURFLDWR SDJ « VFHJOLHUH XQR GHL PL[HU GLVSRQLELOL H LQVHULUH SULPD SRL 7, QHL FDPSL FHQWUDOL FRPH VL YHGH GDOOD ¿JXUD 0,;(5 '233,2 7, 0L[HU 0L[HU "" "" 0L[HU "" "" "" 0L[HU "" 'LII 7\S ]X ,O FRPDQGR QHOOR VWHVVR VHQVR c c FKH DYUHEEH OXRJR DWWUDYHUVR ,QJU TXL QRQ KD
8VDUH OH IDVL GL YROR ,Q RJQXQR GHL PRGHOOL LQ PHPRULD VL SRVVRQR SUR JUDPPDUH ¿QR D IDVL GL YROR D YROWH LQGLFDWH FRPH FRQGL]LRQL GL YROR FKH LQFRUSRUDQR LPSRVWD]LRQL DQFKH FRPSOHWDPHQWH GLYHUVH OH XQH GDOOH DOWUH &LDVFXQD IDVH VL SXz ULFKLDPDUH FRQ XQ LQWHUUXWWRUH R XQD FRPELQD]LRQH GL LQWHUUXWWRUL H UDSSUHVHQWD LO PL JOLRU PRGR SHU FRPPXWDUH LQ YROR LQ PRGR VHPSOLFH H SUDWLFR LPSRVWD]LRQL GLYHUVH GHO PRGHOOR SHU DGDWWDUOR D YDULH VLWXD]LRQL FRPH LO YROR QRUPDOH QRUPDO LQ WHUPLFD WKHU
LQGLFDQGROD FRQ XQ DVWHULVFR ¾ 3XQWR 3HU SDVVDUH UHDOPHQWH GD XQD IDVH DOO DOWUD q QHFHV VDULR DVVHJQDUH XQR R SL LQWHUUXWWRUL 8QR GHL GXH D SRVL]LRQL &75/ R &75/ q DGDWWR D FRPPXWDUH ¿QR D IDVL GL YROR 8QD GHOOH GXH SRVL]LRQL HVWUHPH q DVVHJQDWD DG XQR GHJOL LQWHUUXWWRUL $ ) LQL]LDQGR GDOOD SRVL]LRQH FHQWUDOH / DVVHJQD]LRQH GHOO LQWHUUXWWRUH VL WURYD QHO PHQX $WWULEX] IDVL SDJ 3HU SULPD FRVD VHOH]LRQDUH & FRQ OD FRUQLFH 7RFFDQ GR 6(7 H SRUWDQGR O LQWHUUXWWRUH G
OH LPSRVWD]LRQL YHQJRQR FRSLDWH GD XQD IDVH DOO DOWUD VHFRQGR TXDQWR VHOH]LRQDWR 3URFHGHUH DOOR VWHVVR PRGR FRQ OH DOWUH IDVL 1RU PDO D 9HORFLWj H 1RUPDO D 'HFROOR 3DVVR $ TXHVWR SXQWR JLj WUH R TXDWWUR IDVL VRQR SURJUDPPD WH SXUH OH LPSRVWD]LRQL VRQR FRSLDWH H F q DQFKH XQ WUDVIHULPHQWR VRIW PD QRQ FL VRQR DQFRUD LPSRVWD]LRQL VSHFL¿FKH SHU OH IDVL GL YROR 2UD VH QHFHVVDULR SHU DGDWWDUH OD SRVL]LRQH GHL ÀDS DOOH YDULH HVLJHQ]H GHOOH VLQJROH IDVL GL YROR QHO PHQX ,
3HU DQQRWD]LRQL BP[ B+R77B B,7$ LQGG
8VDUH OH IDVL GL YROR (VHPSLR « $OLDQWH FRQ DOHWWRQL ÁDS VSRLOHU H JDQFLR GL WUDLQR AI FL EL RU FL AI ,O VHJXHQWH HVHPSLR VL EDVD VXOOD SUHVXSSRVL]LRQH FKH VL VLD JLj SUHUHJRODWR PHFFDQLFDPHQWH LO PRGHOOR H FKH FL VL DVVLFXUL GHOOD FRUUHWWD GHÀHVVLRQH GL WXWWL L WLPRQL R VL FRQWUROOLQR GL QXRYR SHU SRWHU IDUH TXHVWD SURJUDP PD]LRQH H IDUH OH UHJROD]LRQL VH QHFHVVDULH DWWUDYHUVR OR VSRVWDPHQWR GHL VHUYL VXO ULFHYLWRUH H R DWWUDYHUVR LO PHQX ,PSRVWD] VHUYL 4XHVWR HVHPSLR GL SURJUDPP
FKH XQD FXUYD GL FRQWUROOR QRQ OLQHDUH SURJUDPPDWD QHO PHQX &XUYD FDQDOH KD WDQWR PHQR HIIHWWR TXDQWR TXHVWR LQJUHVVR FRPH RIIVHW GHO IUHQR q SRVL]LRQDWR D PHQR GHO 4XHVWR VL SXz YHUL¿FDUH IDFLOPHQWH QHO PHQX 9LVXDOL]]D VHUYL FKH VL SXz UDJJLXQJHUH GX TXDVL RJQL PHQX SUHPHQGR LQVLHPH OH IUHFFH ef VXO WDVWR GL VLQLVWUD /D FRUVD H VH QHFHVVDULR DQFKH LO YHUVR GL URWD]LRQH GHO VHUYR GHJOL VSRLOHU H DQFKH GHO VHFRQGR VSRLOHU FROOHJDWR DOO XVFLWD VL SRVVRQR UHJRODUH QHO PHQX « ,PSRVW
,03267 )5(1, %XWW 5LG ' &XUYD HOHYDW 45 :. :.
$775,%8=,21( )$6, FRPEL SULRU & ' ( ) $ % 1RUPDO &RPSOHWDWD O DVVHJQD]LRQH GHJOL LQWHUUXWWRUL XVDUH OH IUHFFH SHU SRUWDUH LO FXUVRUH LQ EDVVR D GHVWUD GHOOR VFKHUPR H DWWLYDUH O DVVHJQD]LRQH GHL QRPL GHOOD IDVH WRFFDQGR 6(7 2UD FKLXGHUH 6: VSRVWDQGR O LQWHUUXWWRUH VFHOWR YHUVR O DOWR $VVHJQDUH LO QRPH 7HUPLFD! D TXHVWD SRVL]LRQH GHOO LQWHUUXWWRUH H ODVFLDUH LO QRPH 1RUPDO! QHOOD SRVL]LRQH GL 2)) DO FHQWUR $775,%8=,21( )$6, FRPEL SULRU & ' ( ) $ %
2UD FRPH HVHPSLR SURJUDPPLDPR OH LPSRVWD]LRQL ULFKLHVWH SHU OD IDVH 7HUPLFD 3HU SRWHU YDULDUH DQFKH OD FXUYDWXUD GHO SUR¿OR FDP ELDQGR OD SRVL]LRQH GHL ÀDS QHOOD IDVH 7HUPLFD FRQ LO PHQX « ,PSRVWD] FRQWUROOL SDJ « VL SXz DVVHJQDUH XQ FRPDQGR DOO LQJUHVVR FRPH GHVFULWWR D SDJ 6H VL DVVHJQD XQR GHL GXH FRPDQGL URWDWLYL SURSRU]LR QDOL D TXHVWR LQJUHVVR LQGLSHQGHQWH GDOOD IDVH GL YROR FKH QHOO HVHPSLR q &75/ JOL DOHWWRQL H L ÀDS SHU OD YDULD]LRQH GHO SUR¿OR
1HO FRQWUROOR GHOOD SRVL]LRQH FHQWUDOH ODYRUD VROR O LPSRVWD]LRQH GL 3RV )/ DO SHU $/( H SHU )/ ,Q XQD SRVL]LRQH OLPLWH GHO FRQWUROOR $/( H )/ WRUQDQR DOOD ORUR SRVL]LRQH QHXWUD SHUFKp LO JUDGR GL PLVFHOD]LRQH VSHFL¿FDWR QHOO HVHPSLR FRPSHQVD GLUHWWDPHQWH O LPSRVWD]LRQH SHU 3RV )/ PHQWUH « «QHOO DOWUD SRVL]LRQH OLPLWH $/( H )/ UDJJLXQJRQR OD ORUR PDVVLPD FRUVD GL RIIVHW YHUVR LO EDVVR SUHYLVWD GDOOD SHUFHQWXDOH GL PLVFHOD]LRQH 3HU TXDQWR ULJXDUGD OD PLVFHOD]LRQH GL FRUUH
&RQWUROOR WHPSRUDOH GHOOH VHTXHQ]H XVDQGR XQ WHPSR GL ULWDUGR H L PL[HU FRQ OH FXUYH 8Q XWLOH PD SRFR FRQRVFLXWD IXQ]LRQH GHO WUDVPHWWLWRUH P[ +R77 q OD FDSDFLWj GL ULWDUGDUH SUDWLFDPHQWH LO PRYLPHQWR GL WXWWL L VHUYL FRQ XQD GXUDWD PDVVLPD GL VHFRQGL XVDQGR XQ LQWHUUXWWRUH /D SURJUDPPD]LRQH GL TXHVWD IXQ]LRQH YHUUj PRVWUDWD TXL GL VHJXLWR VXOOD EDVH GL TXDOFKH HVHPSLR 6L SR WUDQQR FHUWDPHQWH WURYDUH DOWUH DSSOLFD]LRQL TXDQGR VL DFTXLVLUj XQD FHUWD IDPLOLDULWj FRQ TXHVWH IXQ]LRQDOLWj /D SU
« DWWLYD]LRQH FRQ OR VWHVVR LQWHUUXWWRUH PD FRQ XQ DYYLR ULWDUGDWR GHO PRWRUH FROOHJDWR DOO XVFLWD & 0,; &XUYD RQ ² ,QJU ² 8VFLWD 3XQWR / ² QRUPDO ,QJU ,QJU ,QJU ,QJU ² WLPH /D IXQ]LRQH SURJUDPPDWD IXQ]LRQD FRPH YROXWR LQ EDVH D TXHVWL VXJJHULPHQWL FKH VL SRVVRQR YHUL¿FDUH LQ TXDO VLDVL PRPHQWR SDVVDQGR DO PHQX 9LVXDOL]]D VHUYL FRQ OD SUHVVLRQH VLPXOWDQHD GHOOH GXH IUHFFH ef GHO WDVWR GL GHVWUD H SRL FRPSOHWDUH OD SU
$OD FRQ RWWR ÁDS &RPH VWDQGDUG LO WUDVPHWWLWRUH P[ +R77 SXz FRQWUROODUH WUDQTXLOODPHQWH ¿QR DG VHUYL SHU LO FRQWUROOR GL DOHWWRQL ÀDS SHU OD YDULD]LRQH GHO SUR¿OR 4XL GL VHJXLWR QRL FRQVLGHUHUHPR XQ PRGHOOR VHQ]D PR WRUH H VHQ]D VSRLOHU QHOOH DOL / HVHPSLR q DQFKH EDVDWR VXO SUHVXSSRVWR GL DYHU JLj UHJRODWR PHFFDQLFDPHQWH LO PRGHOOR FRQWUROODQGR FKH OH FRUVH GHOOH VXSHU¿FL PRELOL DEELDQR OD JLXVWD HVFXUVLRQH DYHQGROH DQFKH FRQWUROODWH FRQ OD YLVLRQH JUD¿FD GHO PRYLPHQWR H FKH VL VLD DQFKH VL
)DWWR TXHVWR OD SURJUDPPD]LRQH GL EDVH SHU XQ DOD FRQ VHUYL q FRPSOHWDWD 3RVL]LRQDPHQWR GHL ÁDS H FDPELDPHQWL LQ YROR 3HU SULPD FRVD SURJUDPPDUH GXH R SL IDVL GL YROR QHL PHQX ,PSRVWD] IDVL H $WWULEX] IDVL ,Q TXHVWD RFFDVLRQH FDPELDUH DQFKH OR VWDQGDUG *OREDO */ LQ )DVH 3+ QHO PHQX 0RGR VWLFN SDJ SHU O HIIHWWR GHO WULPPDJJLR GLJLWDOH VH QHFHVVDULR VHFRQGR OH HVLJHQ]H LQGLYLGXDOL 8Q HVHPSLR GL SURJUDPPD]LRQH GHOOH IDVL GL YROR VL SXz WURYDUH D SDJ ,PSRVWD]LRQH GL X
,QJU ,QJU ,QJU ,QJU 7HUPLFD ² FRUVD ,QJU ,QJU ,QJU ,QJU 7HUPLFD ² FRUVD 1RWD &RQ O XVR GL XQ LQWHUUXWWRUH LPSRVWDUH OH ULVSHWWLYH GHYLD]LRQL GDO SXQWR GL RIIVHW LQ PRGR VLPPHWULFR R DVLPPHWULFR QHOOD FRORQQD FRUVD &RPSHQVD]LRQH FRQ O HOHYDWRUH TXDQGR VL YDULD LO SURÀOR FRQ L ÁDS 6H GXUDQWH LO YROR IRVVH QHFHVVDULD XQD FRPSHQVD]LRQH FRQ O HOHYDWRUH TXDQGR VL YDULD LO SUR¿OR
SHU OD IDVH GL YROR GHO PHQX 0L[HU DOD VL SRVVRQR IDUH UHJROD]LRQL LQ PRGR FKH OH FRSSLH GL DOHWWRQL H VL HVWHQGDQR YHUVR O DOWR H FKH OH FRSSLH GL ÀDS )/ H )/ VL HVWHQGDQR YHUVR LO EDVVR PHQWUH O HOHYDWRUH YLHQH WULPPDWR LQ SDUDOOHOR D TXHVWR PRYLPHQWR YHGL D SDJ 3HU IDUH LQ PRGR FKH LO VLVWHPD IUHQDQWH UHDJLVFD DOOR VWLFN & FRPH YROXWR LO SXQWR QHXWUR GHO PL[HU RIIVHW XWLOL]]DWR SHU LO VLVWHPD IUHQDQWH GHYH HVVHUH UHJRODWR GL FRQVHJXHQ]D 4XHVWR
0RGHOOL 'HOWD 7XWWDOD 1DWXUDOPHQWH WXWWH OH QRWH ULJXDUGDQWL O LQVWDOOD]LRQH H OH UHJROD]LRQL LQL]LDOL GL XQ VLVWHPD 5& D FRPLQFLDUH GDOO DOD D SDJLQD VL DSSOLFDQR DQFKH DL PRGHOOL FRQ DOD D GHOWD R WXWWDOD 4XLQGL YDOJRQR DQFKH WXWWH OH UDFFR PDQGD]LRQL SHU OD PHVVD D SXQWR H OD SURJUDPPD]LRQH GHOOH IDVL GL YROR VLQLVWUD /LEHUR R IODS GHVWUR HOHY R IXQ]LRQH DX[ /LEHUR R IODS VLQLVWUR HOHY R IXQ]LRQH DX[ /LEHUR R IXQ]LRQH DX[ /LEHUR R IXQ]LRQH DX[ $OLPHQWD]LRQH ULFHYLWRUH )ODS GHVWUR
'HOWD WXWWDOD GHO WLSR $/( )/ 7,32 ', 02'(//2 0RWRUH VX & QXOOD 'HOWD WD 7LSR FRGD $OHW IODSV $/( )/ )UHQR 2II ,Q 6(/ &RQ XQ DOD D GHOWD WXWWDOD FRVWUXLWD FRQ SL GL GXH ÀDSV VL SRVVRQR FRPSHQVDUH PDJJLRUPHQWH L PRPHQWL FKH VL YHQJRQR D FUHDUH 3HU HVHPSLR LO PRPHQWR FDEUDQ WH FDXVDWR GDO VROOHYDPHQWR GHJOL DOHWWRQL HIIHWWR HOHYDWRUH VL SXz FRPSHQVDUH FDPELDQGR OD FXUYDWXUD GHO SUR¿OR FRQ O DEEDVVDPHQWR GHL ÀDSV GL XQD TXDQWLWj FRUULVSRQGHQWH 6H VL q GHFLVR LQ IDYRUH G
0L[HU DOD LQL]LD D SDJ « H LQVHULUH L YDORUL GL LQQDO]DPHQWR GHJOL DOHWWRQL H GL DEEDVVDPHQWR GHL ÀDS VXOOD ULJD %XWW LQ PRGR FKH L UHODWLYL PRPHQWL VL FRPSHQVLQR D YLFHQGD H O DVVHWWR GHO PRGHOOR UHVWL FRVWDQWH &RPXQTXH ELVRJQD WHQHUH SUHVHQWH GL ODVFLDUH DL ÀDS XQ SR GL FRUVD SHU OD IXQ]LR QH HOHYDWRUH 4XLQGL QRQ ELVRJQD XVDUH WXWWD OD FRUVD GHO VHUYR VROR SHU LO EXWW DG HVHPSLR ,03267 )5(1, %XWW ² 5LG ' &XUYD HOHYDW 1RUPDO $,/( )/$3 )/$3 6L SRVVRQR LJQRUD
&DQDOH VROR PL[ SDJ SHU UDJLRQL GL VLFXUH]]D ,Q FRUULVSRQGHQ]D FRQ O HVHPSLR SUHFHGHQWH TXLQGL LO FDQDOH GL FRQWUROOR GRYUHEEH HVVHUH LPSRVWDWR VX RQO\ &$1$/( 62/2 0,; RQO\ QRUPDO (VHPSL GL SURJUDPPD]LRQH GHOWD BP[ B+R77B B,7$ LQGG
0RGHOOR GL DHUHR ) $ *OL DHUHL DGDWWL DOOH JDUH GL YROR DFUREDWLFR DSSDUWHQJR QR DOOD FDWHJRULD ) $ 3RVVRQR XWLOL]]DUH XQ PRWRUH D VFRSSLR R XQ PRWRUH HOHWWULFR 4XHOOL FRQ PRWRUH HOHWWULFR VRQR LGRQHL H WRWDOPHQWH FRPSHWLWLYL DQFKH QHOOH JDUH LQWHUQD]LRQDOL GL ) $ FRPH SXUH LQ TXHOOH GL ) $ GHGL FDWH VRODPHQWH DL PRGHOOL FRQ PRWRUH HOHWWULFR DOPHQWH SHU LO FRPDQGR GHL UHWUDWWLOL VL XVD XQR GHL GXH LQWHUUXWWRUL D GXH SRVL]LRQL 6: R 6: TXLQGL VHQ]D SRVL]LRQH LQWHUPHGLD 8Q DOWUR FRPDQGR H[WU
,O UHVWR GHOOH UHJROD]LRQL YHQJRQR IDWWH R ODVFLDWH FRPH VL YHGH QHOOD ¿JXUD 'RSR DYHU IDWWR XQD SURYD LQ YROR SHU WULPPDUH LO PRGHOOR QRL UDFFRPDQGLDPR GL ULGXUUH OD FRUVD GHO WULP SHU O HOHYDWRUH H JOL DOHWWRQL ,O PRGHOOR DYUj XQD UHD]LR QH PROWR EDVVD DL PRYLPHQWL GHL WULP %LVRJQD HYLWDUH GL IDUH XQD VRYUDWULPPDWXUD SHUFKp VH VL PDQWLHQH OD FRUVD PDVVLPD GHL WULP LQ FHUWL FDVL DQFKH XQ VROR VFDWWR GHO WULP SRWUHEEH GDUH XQ PRYLPHQWR HVDJHUDWR 4XLQGL VH LO PRGHOOR DQGDYD WURSSR D VLQLVWUD
3URFHGXUD GL EDVH 6SRVWDUH OR VWLFN & HG LQVLHPH DG HVVR OD OLQHD YHUWLFDOH VXO JUD¿FR YHUVR LO PLQLPR D GHOOD FRUVD GL FRQWUROOR H WRFFDUH 6(7 VXO WDVWR GL GHVWUD 3HU RWWHQHUH OD IRUPD GHOOD FXUYD FKH VL YHGH LQ ¿JXUD DO]DUH TXHVWR SXQWR DJHQGR VXOOH IUHFFH ¿QR D FLUFD OR LQ FDPSR LQYHUVR QHOOD ULJD 3XQWR 3RL DUURWRQGDUH OD FXUYD FDUDWWHULVWLFD DQGDQGR DG HYLGHQ]LDUH OD ULJD &XUYD H WRFFDQGR EUHYHPHQWH 6(7 FDPELDUH LO YDORUH GD 2II D 2Q FRQ OH IUHFFH 6H IRVVHUR QH
,PSRVWD]LRQH $6
0RGHOOL GL HOLFRWWHUR ,Q TXHVWR HVHPSLR FRQVLGHULDPR GL DYHU JLj OHWWR H FRP SUHVR OD GHVFUL]LRQH GHL VLQJROL PHQX H GL DYHUH TXLQGL IDPLOLDULWj FRQ OH SURFHGXUH GL SURJUDPPD]LRQH GHO WUDVPHWWLWRUH 6L Gj DQFKH SHU VFRQWDWR GL DYHU PRQWDWR H UHJRODWR O HOLFRWWHUR VHFRQGR OH LQGLFD]LRQL GHO FRVWUXW WRUH /H RSSRUWXQLWj GL UHJROD]LRQH IRUQLWH GDO VRIWZDUH GHO WUDVPHWWLWRUH QRQ VL GHYRQR XVDUH SHU FRUUHJJHUH XQD PHFFDQLFD PRQWDWD PDOH H UHJRODWD SHJJLR &RPH DQFKH VSHVVR QHOOD YLWD FL VRQR YDULH VWUDG
SRVVRQR FDPELDUH OH LPSRVWD]LRQL SUHGH¿QLWH LQ 0RGR SLORW 8VFLWD '6& H 3DVVR DYDQWL GLHWUR QRQFKp DOO LQWHUQR GHOOH ULVSHWWLYH ORFD]LRQL GL PHPRULD GHL PRGHOOL 1HOOD ULJD &RQWUDVWR VL GHWHUPLQD OD OHJJLELOLWj GHO GLVSOD\ LQ FRQGL]LRQL VFDUVH GL OXFH H VXOOD ULJD 5HWURLO OXPLQD] VL GHWHUPLQD SHU TXDQWR WHPSR LO GLVSOD\ GHYH UHVWDUH LOOXPLQDWR GRSR FKH LO WUVPHWWLWRUH q VWDWR DFFHVR R GRSR FKH q VWDWR WRFFDWR XQ WDVWR SHU O XOWLPD YROWD &RQ %HHS DFFHQVLRQH VL QR VL VWDELOLVFH VH LO WUD
LQL]LD OD SURJUDPPD]LRQH GL TXHVWR PRGHOOR VXOOD ULJD 1RPH PRG RUD LQVHULUH XQ QRPH SHU OD PHPRULD « ,03267$= %$6( 02' 1RPH PRG 0RGR SLORW PRGXOR +R77 ELQG Q G Q G 0DS &K 5FY 5 %' %' « FKH XVD L FDUDWWHUL GLVSRQLELOL QHOOD VHFRQGD VFKHUPD WD UDJJLXQJLELOH GDOOD ULJD 1RPH PRG !"#$%&’() +,–.
SLDWWR RVFLOODQWH ULJXDUGR DO SDVVR DO UROOLR H DO EHFFKHJ JLR VRQR JLj UHJRODWH DO QHO PHQX 0L[HU SLDWWR SDJ 0,;(5 3,$772 3DVVR 5ROO %HFF 6(/ 6H LO SLDWWR QRQ GRYHVVH ULVSRQGHUH FRUUHWWDPHQWH DL PRYLPHQWL GHJOL VWLFNV OD SULPD FRVD GD IDUH q FDPELDUH OD GLUH]LRQH GHO PL[HU SDVVDQGR GD D VH IRVVH QHFHVVDULR /D VHFRQGD FRVD q LQYHUWLUH LO VHUYR DQGDQ GR QHO PHQX ,PSRVWD] VHUYL 6 6 6 6 6 5HY FHQW SDJ
GD XQD IDVH DOO DOWUD 6L SRWUj WURYDUH XQD GHVFUL]LRQH GHWWDJOLDWD GHOOD SUR FHGXUD SHU LPSRVWDUH LO PLQLPR H LO OLPLWH GHO PRWRUH QHOOD VH]LRQH FKH LQL]LD GD SDJ 8VDQGR OD IUHFFLD f GL GHVWUD R GL VLQLVWUD SRUWDUVL VXOOD FRORQQD FRUVD H DXPHQWDUH LO YDORUH QHO FDPSR HYL GHQ]LDWR GD D FRQ LO OLPLWDWRUH GHO PRWRUH SRVL]LRQDWR WXWWR YHUVR LO PDVVLPR GRSR DYHU WRFFDWR 6(7 VXO WDVWR GL GHVWUD ,QJU ,QJU ,QJU /LP QRUPDO
3DVVR &XUYD RII ,QJU 8VFLWD 3XQWR + QRUPDO 1RWD 8Q PLVXUDWRUH GL SDVVR WLSR LO *UDXSQHU $UW 1U q PROWR XWLOH H SUDWLFR SRLFKp VL SRVVRQR OHJJHUH GLUHWWD PHQWH JOL DQJROL 2UD WLUDUH LQGLHWUR OR VWLFN GHO FROOHWWLYR YHUVR LO VXR PLQLPR 5HJRODUH LO 3XQWR / LQ PRGR FKH LO SDVVR VLD WUD H VHFRQGR O DELOLWj QHO SLORWDJJLR 4XHVWR SUR GXFH XQ JUD¿FR FRQ XQD OHJJHUD LQFOLQD]LRQH QHO SXQWR GL KRYHULQJ IRUPDQGR TXHOOD FKH YLHQH GH¿QLWD FRPH FXUYD GHO SDVVR FROOHWWLYR (V
3DVVR ,PSRVWD PRW $5 2IIVHW FRGD $5 1DVFRQGL *\UR 5RWD]LRQH SLDWWR /LPLWH SLDWWR $XWRURW ² 2)) /D ULJD ,PSRVWD PRW $5 q LPSRUWDQWH ,QVHULUH LO YDORUH VXOOD GHVWUD GD D VHFRQGR OD GLUH]LRQH GHO VHUYR 3DVVR ,PSRVWD PRW $5 2IIVHW FRGD $5 1DVFRQGL *\UR 5RWD] SLDWWR /LPLWH SLDWWR $XWRURW ² 2)) 6(/ &RVu IDFHQGR VL RWWLHQH FKH LO PRWRUH YLHQH VSHQWR LQ PRGR VLFXUR QHOOD IDVH GHOO DXWRURWD]LRQH LQ FDVR GL HPHUJHQ]D 3L DYDQWL TXDQGR VL VDUj DFTXLVLWD XQD
&XUYD FDQDOH SDJ &K &859$ &XUYD RII ,QJU 8VFLWD 3XQWR " QRUPDO 4XHVWD IXQ]LRQH q XQ WLSR GL FXUYD HVSRQHQ]LDOH FRPR GD SHU OR VWLFN GHO PRWRUH SDVVR H OD IXQ]LRQH GHO PL[HU FROOHJDWR DG HVVR 6HPPDL TXHVWD FXUYD DQGUHEEH XWLOL]]DWD FRQ FDXWHOD VROR DOOD ¿QH TXDQGR WXWWH OH DOWUH UHJROD]LRQL VRQR JLj VWDWH IDWWH 1RQ GHYH HVVHUH XVDWD SHU OH UHJROD]LRQL PRWRUH SDVVR /H VRYUDSSRVL]LRQL SRWUHEEHUR DYHUH XQ HIIHWWR GHOHWHULR $ TXHVWR SXQWR WXWWH OH UHJROD]LRQL VSHFL¿FKH SHU O
$WWULEX] IDVL SDJ 6RWWR & H ' DVVHJQDUH JOL LQWHUUXWWRUL D WUH SRVL]LRQL 6: SHU HVHPSLR $775,%8=,21( )$6, FRPEL SULRU & ' ( ) $ % 1RUPDO 2UD ELVRJQD DVVHJQDUH OD FRUULVSRQGHQWH IDVH GL YROR GDO PHQX ,PSRVWD] IDVL DOOH ULVSHWWLYH SRVL]LRQL GHJOL LQWHUUXWWRUL 3RLFKp VRQR JLj VWDWL DVVHJQDWL L QRPL LO QRPH 1RUPDO DSSDUH VXOOR VFKHUPR D GHVWUD LQ EDVVR 4XDQGR YLHQH DWWLYDWR O LQWHUUXWWRUH DVVHJQDWR SHU O DXWRURWD]LRQH FRPSDUH VXOOR VFKHUPR LO VHJXHQWH PHV
3HUIH]LRQDPHQWR VXJJHULWR *RYHUQRU 5HJRODWRUH GHOOD YHORFLWj GL URWD]LRQH $G XQ FHUWR PRPHQWR SXz GDUVL FKH VL YRJOLD LQVWDOODUH VXOO HOLFRWWHUR XQ *RYHUQRU UHJRODWRUH DXWRPDWLFR GL JLUL GHO URWRUH FRPH DG HVHPSLR O PF +HOL &RQWURO SHU SURYDUH D YRODUH FRQ XQ VLVWHPD FKH PDQWHQJD DXWR PDWLFDPHQWH FRVWDQWL L JLUL GHO URWRUH 3Xz DYHUH VHQVR DEELQDUH YDULH YHORFLWj GHO URWRUH DOOH IDVL GL YROR LQ TXDQWR FLz SHUPHWWH GL IDUH XOWHULRUL PHVVH D SXQWR /D SULPD FRVD GD IDUH q PRQWDUH H LQVWDOODUH LO *R
$SSHQGLFH 35; $OLPHQWD]LRQH SHU LO ULFHYLWRUH $UW 1U 0RGXOR *36 9DULR *UDXSQHU +R77 $UW 1U 0RGXOR 9DULR *UDXSQHU +R77 $UW 1U 8Q VLVWHPD GL DOLPHQWD]LRQH VWDELOL]]DWD SHU LO ULFHYLWRUH PROWR VR¿VWL FDWR FRQ JHVWLRQH LQWHOOLJHQWH GHOOD SRWHQ]D / XQLWj q FRVWLWXLWD GD XQ DOLPHQWDWRUH VWDELOL]]DWR SHU LO ULFHYLWRUH JHVWLELOH GDOO XWHQWH FKH SURYYHGH DQFKH DG DXPHQWDUH O DI¿GDELOLWj GHO VLVWHPD ULFHYHQWH GL ERUGR (VVR q SURJHWWDWR SHU O XVR FRQ YDUL WLSL GL EDWWHULH SHU JDUDQW
*HQHUDO (QJLQH 0RGXOH *UDXSQHU +R77 $UW 1U *HQHUDO $LU 0RGXOH *UDXSQHU +R77 $UW 1U (OHFWULF $LU 0RGXOH *UDXSQHU +R77 $UW 1U 6HQVRUH JHQHUDOH SHU ULFHYLWRUL *UDXSQHU +R77 DGDWWR D PRGHOOL FRQ PRWRUH D VFRSSLR R HOHWWULFR 'XH PLVXUH GL WHQVLRQH H WHPSHUDWXUD FRQ VRJOLH GL DOODUPH SHU YDOR UL PLQLPL H PDVVLPL 0LVXUD GHOOH VLQJROH FHOOH FRQ VRJOLD GL DOODUPH SHU WHQVLRQH PLQLPD 0LVXUD GL WHQVLRQH FRUUHQWH H FDSDFLWj GHOOD EDWWHULD FRQ VRJOLH GL DO ODUPH SHU WHQVLRQH PL
530 6HQURUH PDJQHWLFR *UDXSQHU +R77 $UW 1U 6HQVRUH PDJQHWLFR SHU FRQWDJLUL 'LPHQVLRQL [ [ PP 7HQVLRQH GL HVHUFL]LR 9 3HVR FLUFD J 530 6HQVRUH RWWLFR *UDXSQHU +R77 $UW 1U 6HQVRUH RWWLFR SHU FRQWDJLUL ¿QR D USP FRQ HOLFKH ELSDOD 'LPHQVLRQL [ [ PP 7HQVLRQH GL HVHUFL]LR 9 3HVR FLUFD J *UDXSQHU +R77 6PDUW %R[ $UW 1U *UDXSQHU +R77 LQWHUIDFFLD 86% $UW 1U 8Q DPSLR QXPHUR GL IXQ]LRQL GLYHUVH ULXQLWH LQ XQ XQL
)&& ,QIRUPDWLRQ *UDXSQHU P[ +R77 )&& ,' =.
BP[ B+R77B B,7$ LQGG mx-12 HoTT - No. 33112, mx-16 HoTT - No. 33116, mx-20 HoTT - No. 33124, GR-12 HoTT - No. 33506, GR-16 HoTT - No. 33508, GR-24 HoTT - No. 33512 2 Geräteklasse: V1.7.1 Graupner GmbH & Co. KG Henriettenstraße 94-96 D-73230 Kirchheim/Teck Germany Tel: 07021/722-0 Fax: 07021/722-188 EMail: info@graupner.
&HUWLÀFDWR GL *DUDQ]LD 6HUYL]LR DVVLVWHQ]D 6HUYLFH 6HUYLFH DSUqV YHQWH *UDXSQHU =HQWUDOVHUYLFH *UDXSQHU *PE+ &R .* +HQULHWWHQVWUDVVH ' .LUFKKHLP 6HUYLFH KRWOLQH 0RQGD\ )ULGD\ %HOJLH %HOJLTXH 1HGHUODQG -DQ YDQ 0RXZHULN 6ORW GH +RXYHODDQ 1/ 0DDVODQG 97 /X[HPERXUJ .
*5$831(5 *0%+ &2 .* 3267)$&+ ' .,5&++(,0 7(&.