Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
3$/$95$6 &+$9(
&RQVWUXomR FLYLO SDWRORJLD GDV FRQVWUXo}HV UHFXSHUDomR
5(6802
'LVFXWHVH D TXHVWmR GRV HGLItFLRV TXH HP QmR DOFDQoDQGR XP GHVHPSHQKR PtQLPR
SUpHVWDEHOHFLGR QmR DWHQGHP jV H[LJrQFLDV GRV VHXV XVXiULRV /HYDQWDVH D QHFHVVLGDGH GD
GHOLPLWDomR GH WRGR XP FDPSR GD HQJHQKDULD D 3DWRORJLD GDV &RQVWUXo}HV SDUD R HVWXGR GDV
IDOKDV GRV HGLItFLRV
3DUD R FDVR GRV HGLItFLRV TXH DSUHVHQWDP SUREOHPDV SDWROyJLFRV H SURSRVWR XP SURFHGLPHQWR GH
DWXDomR (VWH SURFHGLPHQWR FRQVLVWH EDVLFDPHQWH HP OHYDQWDPHQWR GR PDLRU Q~PHUR SRVVtYHO GH
VXEVtGLRV SDUD R HQWHQGLPHQWR GR SUREOHPD DWUDYpV GH YLVWRULD GR ORFDO GR KLVWyULFR GR HGLItFLR H GR
UHVXOWDGR GH H[DPHV FRPSOHPHQWDUHV GLDJQyVWLFR GD VLWXDomR RX VHMD HQWHQGLPHQWR FRPSOHWR
GRV IHQ{PHQRV RFRUULGRV GHILQLomR GD FRQGXWD D SDUWLU GD HVFROKD GD DOWHUQDWLYD GH LQWHUYHQomR
PDLV FRQYHQLHQWH e DSUHVHQWDGD D DSOLFDomR UHDO GD PHWRGRORJLD SURSRVWD HP GLIHUHQWHV FDVRV
WUDWDGRV SRU GLIHUHQWHV WpFQLFRV WRGRV HOHV FRP VXFHVVR
6RPHQWH RV FDVRV PDLV FRPSOH[RV TXH HQYROYHP FRQKHFLPHQWR HVSHFtILFRV H[LJHP HVSHFLDOLVWDV
HP 3DWRORJLD GDV &RQVWUXo}HV RX DLQGD HVSHFLDOLVWDV HP DOJXP WLSR GH SUREOHPD SDWROyJLFR
4XHP TXHU TXH VHMD R UHVSRQViYHO SHOD UHVROXomR GH XP SUREOHPD GHYHUi SRVVXLU XPD
FRQFHLWXDomR ILUPH GR PpWRGR D VHU HPSUHJDGR H GH FDGD XPD GH VXDV HWDSDV
$ HVWUXWXUD JHQpULFD GR PpWRGR QD 3DWRORJLD
$ HVWUXWXUD GR PpWRGR JHQpULFR SURSRVWR p IRUPDGR EDVLFDPHQWH SRU WUrV SDUWHV GLVWLQWDV WLQWDV
3DUWH /HYDQWDPHQWR GH VXEVtGLRV
/HYDQWDU VXEVtGLRV UHSUHVHQWD DFXPXODU H RUJDQL]DU DV LQIRUPDo}HV QHFHVViULDV H VXILFLHQWHV SDUD
R HQWHQGLPHQWR FRPSOHWR GRV IHQ{PHQRV $V LQIRUPDo}HV SRGHP VHU REWLGDV DWUDYpV GH WUrV IRQWHV
EiVLFDV TXDLV VHMDP D YLVWRULD GR ORFDO R OHYDQWDPHQWR GD KLVWyULD GR SUREOHPD H GR HGLItFLR
DQDPQHVH GR FDVR H R UHVXOWDGR GH DQiOLVHV H HQVDLRV FRPSOHPHQWDUHV
3DUWH 'LDJQyVWLFR GD VLWXDomR
2 GLDJQyVWLFR GD VLWXDomR p R HQWHQGLPHQWR GRV IHQ{PHQRV HP WHUPRV GD LGHQWLILFDGDV FLR GDV
P~OWLSODV UHODo}HV GH FDXVD H HIHLWR TXH QRUPDOPHQWH FDUDFWHUL]DP XP SUREOHPD SDWROyJLFR (P
RXWUDV SDODYUDV R REMHWLYR GR GLDJQyVWLFR L HQWHQGHU RV SRUTXHV H RV FRPRV D SDUWLU GH GDGRV
FRQKHFLGRV
3DUWH 'HILQLomR GH FRQGXWD
2 REMHWLYR JHQpULFR GD GHILQLomR GD FR FRQGXWD p SUHVFUHYHU R WUDEDOKR D VHU H[HFXWDGR SDUD
UHVROYHU R SUREOHPD QLVWR LQFOXLQGRVH D GHILQLomR VREUH RV PHLRV PD WHULD@ PLR GH REUD H
HTXLSDPHQWRV H D SUHYLVmR GDV FRQVHTrQFLDV HP WHUPRV GR GHVHPSHQKR ILQDO 3DUD GHILQLU D
FRQGXWD LQLFLDOPHQWH p IHLWR R SURJQyVWLFR GD VLWXDomR RX VHMD VmR OHYDQWDGDV KLSyWHVHV GD
WHQGrQFLD GH HYROXomR IXWXUD GR SUREOHPD H DV DOWHUQDWLYDV GH LQWHUYHQomR DFRPSDQKDGDV GRV
UHVSHFWLYRV SURJQyVWLFRV
2 SURFHGLPHQWR SUiWLFR H D SURSRVWD GH XP IOX[RJUDPD GH DWXDomR
2 PpWRGR JHQpULFR SURSRVWR Gi RULJHP HP WHUPRV GH DSOLFDomR SUiWLFD D XP SURFHGLPHQWR SDUD
UHVROXomR GH SUREOHPDV
(VWH SURFHGLPHQWR SRGH VHU XWLOL]DGR LQGHSHQGHQWH GR QtYHO GH H[SHULrQFLD GR WpFQLFR H GD
FRPSOH[LGDGH GR SUREOHPD
1R JHUDO R SULPHLUR SDVVR GHQWUR GD IDVH GH OHYDQWDPHQWR GH VXEVtGLRV p D YLVWRULD GR ORFDO
%DVHDGR QD PDQLIHVWDomR GR SUREOHPD R WpFQLFR GLUHFLRQD D UHDOL]DomR GR H[DPH XWLOL]DQGR RV
VHXV VHQWLGRV H GHWHUPLQDGRV LQVWUXPHQWRV HVSHFtILFRV 1HVWH SULPHLUR SDVVR DLQGD VmR UHDOL]DGRV
RV HQVDLRV UiSLGRV GH FDPSR TXH VH IL]HUHP QHFHVViULRV 'HSHQGHQGR GR SUREOHPD H GR WpFQLFR
HQYROYLGR H SRVVtYHO TXH Mi DSyV R H[DPH LQLFLDO VH SRVVD HQWHQGHU R IHQ{PHQR RFRUULGR HP VXD
WRWDOLGDGH (P RXWUDV SDODYUDV HP DOJXPDV VLWXDo}HV Mi VH SRGH ID]HU GLDJQyVWLFR FRP R UHVXOWDGR
GR H[DPH LQLFLDO
1RV FDVRV HP TXH RV VXEVtGLRV REWLGRV QmR VH PRVWUDUHP VXILFLHQWHV R VHJXQGR SDVVR QD SURFXUD
GH LQIRUPDo}HV HVWi UHODFLRQDGR FRP R OHYDQWDPHQWR GD KLVWyULD GR HGLItFLR H GD KLVWyULD GR
SUREOHPD )D]VH SRUWDQWR D DQDPQHVH GD VLWXDomR (VWDV LQIRUPDo}HV SRGHP VHU FRQVHJXLGDV
YHUEDOPHQWH DWUDYpV GH HQTXHWHV FRP WHVWHPXQKDV RX SRGHP HVWDU IRUPDOL]DGDV HP GRFXPHQWRV
FRPR R SURMHWR R GLiULR GH REUD QRWDV ILVFDLV GH PDWHULDLV H FRPSRQHQWHV H DVVLP SRU GLDQWH
0DLV XPD YH] GH SRVVH GHVWHV QRYRV VXEVtGLRV R WpFQLFR GHYH GHILQLU VH HVWi SUHSDUDGR SDUD
HVWDEHOHFHU R GLDJQyVWLFR GR SUREOHPD 8PD YH] TXH QmR VHMDP VXILFLHQWHV DV LQIRUPDo}HV REWLGDV
ID]VH QHFHVViULD D XWLOL]DomR GH DQiOLVH H HQ VDLRV FRPSOHPHQWDUHV $ HVSHFLILFDomR GRV WLSRV GH
HQVDLRV p IXQomR GD QDWXUH]D GR SUREOHPD H QRUPDOPHQWH HVWHV HQVDLRV VmR GLUHFLRQDGRV QR
VHQWLGR GH GLULPLU DOJXPD G~YLGD HVSHFtILFD GR WpFQLFR
8PD YH] TXH D 3DWRORJLD GDV &RQVWUXo}HV DLQGD QmR VH FRQVROLGRX LQWHLUDPHQWH HQTXDQWR FLrQFLD
H[LVWLUmR FDVRV HP TXH PHVPR VHQGR VXILFLHQWHPHQWH FDSD] H WHQGR SHUFRUULGR WRGRV RV SDVVRV
SUHVFULWRV SDUD R OHYDQWDPHQWR GH VXEVtGLRV R WpFQLFR QmR FRQVHJXH GLDJQRVWLFDU 1RV FDVRV HP
TXH VH WUDWDU GH OLPLWDo}HV QR FRQKHFLPHQWR GR WpFQLFR ID]VH QHFHVViULD XPD SURIXQGD SHVTXLVD
ELEOLRJUiILFD 3RU RXWUR ODGR QRV FDVRVGH IURQWHLUD GR FRQKHFLPHQWR FROHWLYR D ~QLFD DOWHUQDWLYD p
D SHVTXLVD WHFQROyJLFD RX FLHQWtILFD
1D JUDQGH PDLRULD GRV FDVRV FRQWXGR DV LQIRUPDo}HV OHYDQWDGDV VmR VXILFLHQWHV SDUD TXH VH
FRQVLJD GLDJQRVWLFDU D VLWXDomR $WUDYpV GR GLDJQyVWLFR VmR LGHQWLILFDGDV DV RULJHQV GR SUREOHPD
VXDV FDXVDV SUHFLVDV RV IHQ{PHQRV LQWHUYHQLHQWHV H VHXV PHFDQLVPRV GH RFRUUrQFLD
(QWHQGLGD D VLWXDomR R WpFQLFR HVWi FDSDFLWDGR D GHILQLU D FRQGXWD D VHU VHJXLGD FRP UHODomR DR
SUREOHPD (VWD IDVH GH GHILQLomR GHYH VHU FRQGX]LGD LQLFLDOPHQWH SHOR OHYDQWDPHQWR GDV
DOWHUQDWLYDV GH HYROXomR IXWXUD GRV IHQ{PHQRV &RP R SURJQyVWLFR HVWDEHOHFLGR R WpFQLFR VH
GHILQH SRU XPD GDV DOWHUQDWLYDV HVWXGDGDV VHPSUH EDVHDGR QD UHODomR FXVWREHQHItFLR GH FDGD
XPD GHODV
$ DOWHUQDWLYD GHILQLGD SRGH UHTXHUHU DOJXP WLSR GH LQWHUYHQomR RX QmR 1RUPDOPHQWH WH D GHFLVmR
SRU QmR LQWHUYLU VLJQLILFD D DFHLWDomR GH XP GHVHPSHQKR LQVDWLVIDWyULR ULR HP YLVWD GR FXVWR GH XPD
HYHQWXDO WHUDSLD
$ LQWHUYHQomR RX D WHUDSLD UHTXHULGD QRUPD @PHQWH WLQL WHFQRORJLD GRPLQDGD SRGHQGR SRUWDQWR VHU
DSOLFDGD QR FDVR ([LVWHP VLWXDo}HV QR HQWDQWR HP TXH QmR VH GLVS}H GD WHFQRORJLD QHFHVViULD
UHVWDQGR D QHFHVVLGDGH GH SHVTXLViOD H GHVHQYROYrOD
2 SURFHVVR VH HQFHUUD FRP D H[HFXomR GRV VHUYLoRV SUHVFULWRV TXDQGR QHFHVViULR H FRP R
UHJLVWUR GR FDVR (VWH UHJLVWUR ( IHLWR FRP D ILQDOLGDGH GH PDQWHU IRUPDOL]DGD D KLVWyULD GD REUD
SDUD SRVVtYHLV QRYDV LQWHUYHQo}HV H SULQFLSDOPHQWH SDUD D GLYXOJDomR GR FRQKHFLPHQWR DGTXLULGR
QD UHVROXomR GR SUREOHPD
$ ILJXUD UHSUHVHQWD XPD SURSRVWD GH IOX[RJUDPD GH DWXDomR EDVHDGD QD SURSRVWD SRU +HOHQH >
H TXH FRQWHPSOD R SURFHGLPHQWR GHVFULWR
&DGD XP GRV SDVVRV FLWDGRV GR SURFHGLPHQWR SURSRVWR GHYH VHU UHDOL]DGR VHJXQGR GH WHUPLQDGRV
SDUkPHWURV H DWHQGHQGR D GHWHUPLQDGRV FXLGDGRV SDUD FRQVHJXLU DWLQJLU VHXV REMHWLYRV 3DVVDPRV
D VHJXLU DR HVWXGR GH FDGD XP GHVWHV SDVVRV HP SDUWLFXODU
7HUPLQDGD D IDVH TXH SRGH VHU GHQRPLQDGD GH GHOLPLWDomR H SODQHMDPHQWR GD YLVWRULD SDVVDVH DR
OHYDQWDPHQWR GH VXEVtGLRV SURSULDPHQWH GLWR $ WpFQLFD SDVVtYHO GH VHU XWLOL]DGD p IXQomR GRV
LQVWUXPHQWRV GLVSRQtYHLV
2V LQVWUXPHQWRV HVVHQFLDLV HP WRGRV RV FDVRV VmR RV FLQFR VHQWLGRV KXPDQRV 3RU PDLRU TXH VHMD
D KDELOLGDGH QD XWLOL]DomR GH HTXLSDPHQWRV RV VHQWLGRV KXPDQRV DSUHVHQWDP SDUD R WpFQLFR D
UHDOLGDGH VHP LQWHUPHGLDomR $OpP GD YLVmR H GD DXGLomR TXH REYLDPHQWH QHFHVViULDV PXLWDV
YH]HV R WDWR R ROIDWR H PHVPR R SDODGDU VmR LPSUHVFLQGtYHLV
2V HTXLSDPHQWRV VHUYHP GH FRPSOHPHQWR D YHUVDWLELOLGDGH KXPDQD TXDQWLILFDQGR DV LPSUHVV}HV
8P HTXLSDPHQWR TXDQGR EHP XWLOL]DGR p XPD HVSpFLH GH SURORQJDPHQWR GD FDSDFLGDGH GR
WpFQLFR GH DSUHHQGHU D UHDOLGDGH 2V VHQWLGRV KXPDQRV H RV HTXLSDPHQWRV WrP RV VHXV
UHVSHFWLYRV FDPSRV GH DWXDomR H OLPLWDo}HV VHQGR UHFRPHQGiYHO D KDUPRQL]DomR GH VHX XVR
1tYHO G
iJXD
)LR GH SUXPR
+LGU{PHWUR HOpWULFR
7HUP{PHWUR GH FRQWDWR
3DF{PHWUR
3DSHO LQGLFDGR GH 3+
'LODW{PHWUR
(QGRVFySLR
/XSD JUDGXDGD
$OpP GHVVHV LQVWUXPHQWRV RXWURV LJXDOPHQWH VLPSOHV H GH SHTXHQDV GLPHQV}HV SRGH ULDP VHU
DFUHVFHQWDGRV 0DLV GR TXH D UHODomR HVSHFtILFD GH DSDUHOKRV p LQWHUHVVDQWH D LGpLD GH MXQWDU
WRGRV QXP Vy FRQMXQWR TXH SRGH VHU OHYDGR HP XPD PDOHWD H p VXILFLHQWH SDUD D JUDQGH PDLRULD
GRV SUREOHPDV
GD HYROXomR GR SUREOHPD DTXHODV UHIHUHQWHV j GHVFULomR GD YLGD GR HGLItFLR RX VHMD R TXDGUR JHUDO
GR VHX GHVHPSHQKR DR ORQJR GR WHPSR 4XDQGR IRU R FDVR SRGHP VHU QHFHVViULDV DV LQIRUPDo}HV
UHIHUHQWHV j YDULDomR GDV FRQGLo}HV GH H[SRVLomR D TXH HVWHYH VXEPHWLGR R HGLItFLR
$V LQIRUPDo}HV SRGHP VHU REWLGDV DWUDYpV GH GXDV IRQWHV EiVLFDV
'XUDQWH D SUySULD YLVWRULD LQLFLDO GR HGLItFLR GLYHUVDV LQIRUPDo}HV RUDLV SRGHP VHU REWLGDV MXQWR DR
XVXiULR $OpP GHVWH H GHSHQGHQGR GD QHFHVVLGDGH SRGHP VHU SURFXUDGRV RV YL]LQKRV R SURPRWRU
GR HPSUHHQGLPHQWR R SURMHWLVWD R FRQVWUXWRU RV IDEULFDQWHV GH PDWHULDLV H DVVLP SRU GLDQWH
$ QHFHVVLGDGH GH HQWUHYLVWDU SHVVRDV FRP HQYROYLPHQWRV GLIHUHQWHV FRP D FRQVWUXomR H FRP
FRQKHFLPHQWRV WpFQLFRV RV PDLV GLVSDUHV SURYRFD D QHFHVVLGDGH GR GHVHQYROYLPHQWR GH XPD
FHUWD WpFQLFD GH LQWHUURJDWyULR 3DFLrQFLD FODUH]D H KDELOLGDGH VmR VHPSUH QHFHVViULRV
$ HQWUHYLVWD SRGH QmR VHU D PHVPD TXDOTXHU TXH VHMD R LQWHUORFXWRU PDV DOJXPDV SHUJXQWDV
SRGHP VH UHSHWLU 5D\JDHUWV >@ SURS}H DV VHJXLQWHV LQGDJDo}HV EiVLFDV
$OpP GHVWDV LQGDJDo}HV EiVLFDV RXWUDV TXHVW}HV WDPEpP VmR LPSRUWDQWHV H SRGHP VHU IHLWDV DR
XVXiULR GR HGLItFLR
4XDQGR R XVXiULR QRWRX SHOD SULPHLUD YH] R SUREOHPD H TXDQGR HOH UHVROYHX LQWHUYLU"
R XVXiULR VH UHFRUGD GH DOJXP IDWR TXH SRVVD HVWDU OLJDGR DR DSDUHFLPHQWR GR SUREOHPD"
&RPR HUDP DV FRQGLo}HV FOLPiWLFRV TXDQGR R SUREOHPD IRL QRWDGR H TXDQGR R XVXiULR UHVROYHX
LQWHUYLU"
6mR HVWHV DSHQDV DOJXQV H[HPSORV GH SHUJXQWDV EDVWDQWH FRPXQV SRUpP FDGD FDVR GHWHUPLQD D
FRQGXomR GR LQWHUURJDWyULR FRQIRUPH VXDV FDUDFWHUtVWLFDV SUySULDV
(P TXDOTXHU FDVR D YHORUL]DomR GH WRGDV DV LQIRUPDo}HV RUDLV REWLGDV p EDVWDQWH SUREOHPiWLFD
>@ (P SULPHLUR OXJDU DV SHVVRDV VRPHQWH SRGHP VH UHSRUWDU D SULPHLUD YH] TXH QRWDUDP RV
VLQWRPDV R TXH HYHQWXDOPHQWH SRGH QmR FRLQFLGLU FRP R VHX VXUJLPHQWR 3RU RXWUR ODGR
LQIRUPDo}HV RUDLV LPSRUWDQWHV SRGHP VHU RPLWLGDV RX PHVPR GLVWRUFLGDV SULQFLSDOPHQWH QRV FDVRV
HP TXH KRXYHU GLVSXWD H R LQIRUPDQWH HVWLYHU GHIHQGHQGR VHXV LQWHUHVVHV 2 FRQVWUXWRU SRU
H[HPSOR TXH XWLOL]RX PDWHULDO GH TXDOLGDGH LQIHULRU DR HVSHFLILFDGR QR SURMHWR SRGH WHPHQGR
UHDo}HV WHQWDU RFXOWDU WDO IDWR 8PD YH] TXH GHWHUPLQDGDV LQIRUPDo}HV VH PRVWUDUHP
VLJQLILFDWLYDV VXD FRQILUPDomR DWUDYpV GH RXWUDV IRQWHV SRGH VHU UHFRPHQGiYHO
$V LQIRUPDo}HV REWLGDV RUDOPHQWH QmR IRUQHFHP QD JUDQGH PDLRULD GRV FDVR V XP TXDGUR
VXILFLHQWHPHQWH DPSOR H FRQILiYHO SDUD R HVWDEHOHFLPHQWR GD DQDPQHVH GR FDVR 1RUPDOPHQWH p
QHFHVViULD D XWLOL]DomR GH IRQWHV GRFXPHQWDGDV FXMD YHUDFLGDGH SRVVD VHU FRORFDGD IRUD GH
TXHVWmR 'HQWUH HVWDV IRQWHV GLWDV IRUPDOL]DGDV D IRQWH SULQFLSDO GH LQIRUPDo}HV H DTXHOD TXH
DFRPSDQKD R WpFQLFR GXUDQWH WRGR R SURFHVVR GR GLDJQyVWLFR p R SURMHWR 2 SURMHWR HQWHQGLGR QmR
VRPHQWH FRPR DV SODQWDV GH FRQFHSomR PDV WDPEpP R SURMHWR H[HFXWLYR R PHPRULDO RV FDGHUQRV
GH HQFDUJRV DV HVSHFLILFDo}HV GH PDWHULDLV RV PDQXDLV GH H[HFXomR H 862 (QILP WRGDV DV
LQGLFDo}HV TXH R UHVSRQViYHO SHOD H[HFXomR S{GH FRQWDU SDUD D &RQVWUXomR GD REUD H TXH R
XVXiULR S{GH FRQWDU SDUD RSHUDU VXD SURSULHGDGH
8PD GLVWLQomR PXLWR LPSRUWDQWH GHYH VHU IHLWD HQWUH R SURMHWR FRPR SURMHWDGR H R SURMHWR FRPR
FRQVWUXtGR 0XLWDV YH]HV DFRQWHFHP GXUDQWH D H[HFXomR YDULDo}HV HP UHODomR DR SURMHWR
YDULDo}HV HVWDV QmR UHJLVWUDGDV
2V GRFXPHQWRV SRU VHX WXUQR SURGX]LGRV GXUDQWH D SUySULD H[HFXomR GD REUD WDPEpP VmR IRQWHV
EDVWDQWH LPSRUWDQWHV $ UHDOLGDGH WHP PRVWUDGR TXH MXVWDPHQWH RV HGLItFLRV FRP PDLRUHV
SUREOHPDV SDWROyJLFRV VmR RV TXH SRVVXHP PHQRU TXDQWLGDGH H TXDOLGDGH GH GRFXPHQWRV TXH
SRVVDP VHU D IRQWH SDUD R HVWXGR GHVVHV SUREOHPDV SDWROyJLFRV ,VVR p FRPSUHHQVtYHO XPD YH]
TXH D SUHRFXSDomR FRP D GRFXPHQWDomR GDV GHFLV}HV H GR GLD D GLD UHYHOD XPD SUHRFXSDomR FRP
D RUJDQL]DomR TXH QRUPDOPHQWH VH UHIOHWH QXPD FRQVWUXomR GH PHOKRU TXDOLGDGH
$OJXQV GRFXPHQWRV QR HQWDQWR VmR HQFRQWUDGRV HP PXLWDV
REUDV VHQGR IRQWHV LPSRUWDQWHV
3RGHPRV FLWDU
'LiULR GH REUD
$ KLVWyULD GR XVR QRUPDOPHQWH WHP QD SUiWLFD GRFXPHQWDomR EDVWDQWH PDLV HVSRUiGLFD 1RV
HGLILFLRV TXH VmR FRQVHUYDGRU DWUDYpV GH SURJUDPDV GH PDQXWHQomR URWLQHLUD SRGHVH FRQVXOWDU RV
UHJLVWURV GDV LQWHUYHQo}HV UHDOL]DGDV 2FRUUH TXH DLQGD QmR VH GLVVHPLQRX DPSODPHQWH D
DSOLFDomR GHVWHV SURJUDPDV H R TXH VH REWpP QRUPDOPHQWH VmR GRFXPHQWRV D UHVSHLWR GR XVR DR
ORQJR GR WHPSR GDV PDTXLQDV H HTXLSDPHQWRV GR HGLILFLR FRPR RV HOHYDGRUHV R VLVWHPD GH
DTXHFLPHQWR H RXWURV
)LQDOPHQWH DOpP GDV LQIRUPDo}HV RUDLV H IRUPDOL]DGDV D UHVSHLWR GD KLVWyULD GR HGLILFLR H GR
SUREOHPD SRGH VHU QHFHVViULR R OHYDQWDPHQWR GD KLVWyULD GDV FRQGLo}HV GH H[SRVLomR D TXH ILFRX
VXEPHWLGR R HGLILFLR 4XHVW}HV FRPR DV YDULDo}HV FOLPiWLFDV GH YL]LQKDQoD HVFDYDo}HV
(QVDLRV LQ ORFR
$QDOLVDU H HQVDLDU R PDWHULDO VLJQLILFD GHWHUPLQDU RV YDORUHV GH SURSULHGDGHV TXH VHMDP UHOHYDQWHV
SDUD R VHX XVR $V SURSULHGDGHV UHOHYDQWHV SRGHP VHU GH QDWXUH]D ItVLFD TXtPLFD RX ELROyJLFD
$OJXPDV SURSULHGDGHV ItVLFDV VmR LQHUHQWHV DR PDWHULDO RX VHMD LQGHSHQGHP GH VXD IRUPD
JHRPpWULFD (VWH WLSR GH HQVDLR L FRQVLGHUDGR FRPR GH FDUDFWHUL]DomR GR PDWHULDO 6mR H[HPSORV D
GHWHUPLQDomR GD GHQVLGDGH GD FRQGXWLELOLGDGH WpUPLFD H HOpWULFD GR FRHILFLHQWH GH GLODWDomR GR
tQGLFH GH UHGXomR DF~VWLFD H RXWUDV 3RU RXWUR ODGR GHWHUPLQDGDV SURSULHGDGHV ItVLFDV HVWLR OLJDGDV
L IRUPD JHRPpWULFD GR PDWHULDO VmR DV SURSULHGDGHV PHFkQLFDV
$ FDUDFWHUL]DomR TXtPLFD GR PDWHULDO SRGH VHU D LGHQWLILFDomR TXDOLWDWLYD H TXDQWLWDWLYD GRV
HOHPHQWRV H FRPSRVWRV TXtPLFRV SUHVHQWHV QD DPRVWUD H GH FDUDFWHUL]DomR GD PLFURHVWUXWXUD GR
PDWHULDO
1RV FDVRV HP TXH R PDWHULDO D VHU DQDOLVDGR VRIUH R DWDTXH GH RUJDQLVPRV YLYRV FRPR IXQJRV SRU
H[HPSOR D DQiOLVH SRGH VHU IHLWD SRU PHLR GH SURFHVVRV ELROyJLFRV 1R FDVR GD PDGHLUD DWDFDGD
SRU IXQJRV XP GRV SURFHVVRV GH H[DPH p D UHWLUDGD GH DPRVWUD H VXD LQWURGXomR HP PHLR GH
FXOWXUD ULFD HP QXWULHQWHV >@
$ FDUDFWHUL]DomR GH DPRVWUD FROHWDGD p XP GRV FDPLQKRV GLVSR QtYHLV GRV H[DPHV
FRPSOHPHQWDUHV QHFHVViULRV SDUD D IRUPXODomR GR GLDJQyVWLFR GH XP SUREOHPD SDWROyJLFR FR GH
XP SUREOHPD SDWROyJLFR 2 RXWUR FDPLQKR HP ODERUDWyULR H D UHDOL]DomR GH HQVDLRV TXH
SURSRUFLRQHP D DYDOLDomR GR GHVHPSHQKR GR HGLItFLR RX GH FDGD XPD GH VXDV SDUWHV
1RV HQVDLRV GH GHVHPSHQKR UHDOL]DGRV HP ODERUDWyULR SURFXUDVH UHSURGX]LU GH XP ODGR D SDUWH
GR HGLItFLR HP HVWXGR XWLOL]DQGRVH PDWHULDLV H FRPSRQHQWHV VLPLODUHV DRV XVDGRV QD REUD H GH
RXWUR DV FRQGLo}HV GH H[SRVLomR D TXH HVWD SDUWH HVWi VXEPHWLGD QR HGLItFLR
(QVDLRV ,Q ORFR
$V FDXVDV HILFLHQWHV VmR DV FDXVDV SULQFLSDLV DV UHVSRQViYHLV DSHQDV SHOR SUREOHPD QRUPDOPHQWH
SURYRFDQGR DOWHUDomR QRV PDWHULDLV H FRPSRQHQWHV *HUDOPHQWH HVWmR OLJDGDV j DomR GH DJHQWHV
ItVLFRV H ELROyJLFRV $V FDXVDV SUHGLVSRQHQWHV SRGHP HVWDU UHODFLRQDGDV FRP D LGDGH GR HGLItFLR
FRP D IDOWD GH FRQVHUYDomR H OLPSH]D H DVVLP SRU GLDQWH
1R TXH GL] UHVSHLWR j H[WHQVmR GRV SUREOHPDV QR HGLItFLR GHYHP VHU GLIHUHQFLDGRV RV SUREOHPDV
JHUDLV GRV ORFDLV 2V SUREOHPDV ORFDLV DIHWDP XPD SDUWH OLPLWDGD GR HGLItFLR HQTXDQWR RV JHUDLV
DIHWDP R HGLItFLR FRPR XP WRGR $LQGD TXH RUJLQDULDPHQWH XP SUREOHPD SRVVD DIHWDU R HGLItFLR
ORFDOL]DGDPHQWH PXLWDV YH]HV RXWURV PDWHULDLV H FRPSRQHQWHV DFDEDP SRU VHU DIHWDGRV (VWDV
PDQLIHVWDo}HV VHFXQGiULDV TXH FRQVWLWXHP RV SUREOHPDV SDWROyJLFRV GH VHJXQGD RUGHP SRGHP
SRU VXD YH] GDU OXJDU D PDQLIHVWDo}HV GH WHUFHLUD RUGHP H DVVLP SRU GLDQWH GH PRGR D FRPSOLFDU
FDGD YH] PDLV R TXDGUR JHUDO 2 SURFHVVR GHVWH GHVHQYROYLPHQWR GR SUREOHPD SDWROyJLFR SRGH VH
GDU OHQWDPHQWH GH IRUPD FU{QLFD RX SRGH VHU UiSLGR DWLQJLQGR PDQLIHVWDo}HV LQWHQVDV HP SRXFR
WHPSR
2V SUREOHPDV SDWROyJLFRV VmR SRUWDQWR SURFHVVRV GLQkPLFRV 1XPD IDVH GR SURFHVVR DV
PDQLIHVWDo}HV SDWROyJLFDV SRGHP DSUHVHQWDU XP DVSHFWR FRPSOHWDPHQWH GLIHUHQWH GR TXH VH
REVHUYDYD HP IDVH DQWHULRU HVWDQGR HP FRQVWDQWH HYROXomR R TXDGUR JHUDO (P FRQVHTXrQFLD R
SURFHVVR GH GLDJQyVWLFR GHYH VHU GLQkPLFR WHQGRTXH DOFDQoDU R HQWHQGLPHQWR GH WRGR R
GHVHQYROYLPHQWR GR SUREOHPD SDWROyJLFR H QmR VLPSOHVPHQWH GD VLWXDomR LQVWDQWkQHD
2 SURFHVVR GR GLDJQyVWLFR
2 GLDJQyVWLFR WHQGR FRPR REMHWLYR ILQDO R HQWHQGLPHQWR GH XP TXDGUR JHUDO GH IHQ{PHQRV H
PDQLIHVWDo}HV GLQkPLFDV SUHVVXS}H XP SURFHVVR FRPSOH[R H LQWULQFDGR GH HODERUDomR PHQWDO
(VWH SURFHVVR GH HQWHQGLPHQWR GD VLWXDomR H GH HODERUDomR PHQWDO VH LQLFLD FRQIRUPH
5HQRQG6DOLV >@ DVVLP TXH R SUREOHPD SDWROyJLFR FRPHoD D VHU HVWXGDGR SURFHVVR GR
GLDJQyVWLFR QmR VH LQLFLD VRPHQWH DSyV OHYDQWDGR R TXDGUR VLQWRPDWROyJLFR
2 OHYDQWDPHQWR GD KLVWyULD GR HGLItFLR H GD SDWRORJLD RV H[DPHV H HQVDLRV GH FDPSR H HP
ODERUDWyULR VmR IHLWRV QmR QR VHQWLGR GH VLPSOHVPHQWH OHYDQWDU IDWRV VHTXHQFLDGRV
FURQRORJLFDPHQWH RX TXDQWLILFDU VLQWRPDV LVRODGDPHQWH &DGD VXEVtGLR REWLGR QD YLVWRULD GR ORFDO
QD DQDPQHVH RX QRV H[DPHV FRPSOHPHQWDUHV GHYH VHU ,QWHUSUHWDGR QR VHQWLGR GH FRPSRU
SURJUHVVLYDPHQWH XP TXDGUR GHHQWHQGLPHQWR GH FRPR WUDEDOKD R HGLItFLR FRPR UHDJH j DomR GRV
DJHQWHV DJUHVVLYRV SRUTXH VXUJLX H FRPR VH GHVHQYROYHX R SUREOHPD SDWROyJLFR H DVVLP SRU
GLDQWH &DGD UHVXOWDGR GD IDVH GH OHYDQWDPHQWR GH 68%6',26 Vy WHP VHQWLGR VH FRUUHWDPHQWH
LQWHUSUHWDGR H LQVHULGR QXP TXDGUR JHUDO GH HQWHQGLPHQWR (VWD LQWHUSUHWDomR GH FDGD VXEVtGLR
REWLGR H D FRUUHVSRQGHQWH KLSyWHVH GH DYDOLDomR GD VLWXDomR RULHQWD D SURFXUD GH QRYRV GDGRV R
TXH FDUDFWHUL]D D LQWHUDomR LQFOXVLYH WHPSRUDO HQWUH D IDVH GH OHYDQWDPHQWR GH VXEVtGLRV H R
SURFHVVR GR GLDJQyVWLFR
6LPSOLILFDGDPHQWH R SURFHVVR GH HQWHQGLPHQWR GH XP SUREOHPD SDWROyJLFR SRGH VHU GHVFULWR FRPR
R GH JHUDomR GH KLSyWHVHV RX PRGHORV H R VHX UHVSHFWLYR WHVWH (P RXWUDV SDODYUDV D SDUWLU GH
GHWHUPLQDGRV GDGRV IXQGDPHQWDLV R WpFQLFR HODERUD KLSyWHVHV GH DYDOLDomR GD VLWXDomR H FRPSDUD
HVWHV PRGHORV DR TXDGUR VLQWRPDWROyJLFR JHUDO H DR FRQKHFLPHQWR TXH WHP GD 3DWRORJLD 3DUD D
HODERUDomR GDV KLSyWHVHV H R VHX WHVWH HP FDGD SDVVR GD IDVH OHYDQWDPHQWR GH VXEVtGLRV H GR
GLDJQyVWLFR p IHLWD XPD DQiOLVH H VtQWHVH GR TXDGUR LQVWDQWkQHR LQIRUPDo}HV H KLSyWHVHV $ DQiOLVH
GHFRPSRVLomR GR TXDGUR H HVWXGR LVRODGR GRV VLQWRPDV H D VtQWHVH HQWHQGLPHQWR GD LQWHUDomR
HQWUH RV VLQWRPDV H GR TXDGUR GH VLQWRPDV FRP R HGLItFLR SRGHP VHU UHDOL]DGDV FRQVFLHQWHPHQWH
FRP YDJDU RX LQVWDQWDQHDPHQWH PRELOL]DQGR UHSHQWLQD H DXWRPDWLFDPHQWH LQIRUPDo}HV
DFXPXODGDV SHOR WpFQLFR DR ORQJR GR WHPSR QXP SURFHVVR VXEOLPLQDU QR TXDO D FRQVFLrQFLD QmR
VH Gi FRQWD
2 SURFHVVR GR GLDJQyVWLFR FRQVWLWXL D FRQWtQXD UHGXomR GD LQFHUWH]D LQLFLDO SHOR SURJUHVVLYR
OHYDQWDPHQWR GH GDGRV (VWD SURJUHVVLYD UHGXomR GD LQFHUWH]D p DFRPSDQKDGD SRU XPD UHGXomR
SDUDOHOD GR Q~PHUR GH SRVVtYHLV PRGHORV RX KLSyWHVHV DWp TXH VH FKHJXH D XPD FRUUHODomR
VDWLVIDWyULD HQWUH R SUREOHPD REVHUYDGR H XP PRGHOR GHVWH SUREOHPD R GLDJQyVWLFR 1HVWH
HVWiJLR D UHSUHVHQWDomR GR SUREOHPD QmR SRGH PDLV VHU HQULTXHFLGD 'HQWUR GHVWD YLVmR DPSOD GR
SURFHVVR GR GLDJQyVWLFR D IDVH GH OHYDQWDPHQWR GH VXEVtGLRV p LQWHUURPSLGD TXDQGR R WpFQLFR
DYDOLD TXH D ,QYHVWLJDomR DGLFLRQDO WHP SRXFD RX QHQKXPD SUREDELOLGDGH GH DOWHUDU R GLDJQyVWLFR
QmR MXVWLILFDQGR VHX FXVWR
1RV FDVRV PDLV VLPSOHV GH GLDJQyVWLFR HYLGHQWH D HODERUDomR PHQWDO SRGH VHU DPSODPHQWH
VLPSOLILFDGD SHOD XWLOL]DomR GH HVTXHPDV GH GLDJQyVWLFR 1HVWHV HVTXHPDV DWUDYpV GR TXDGUR GH
VLQWRPDV VmR OHYDQWDGDV DV FDXVDV D RULJHQV H DV SRVVLELOLGDGHV GH UHSDUDomR GRV SUREOHPDV
SDWROyJLFRV 2 HVTXHPD GLDJQyVWLFR LGHDO GHYH DWHQGHU DRV VHJXLQWHV UHTXLVLWRV
2FRUUH QR HQWDQWR TXH HPERUD VHMDP FRQKHFLGRV FHUWRV IHQ{PHQRV UHODo}HV FDXVDLV FRQH[}HV
VLJQLILFDWLYDV QmR SRGHPRV DOPHMDU FODVVLILFDU WRGRV RV SUREOHPDV SDWROyJLFRV WmR ULJRURVDPHQWH $
WHQWDWLYD GH HVTXHPDWL]DomR QmR VH GHIURQWD VRPHQWH FRP XP GHILFLHQWH JUDX GH FRQKHFLPHQWR
WpFQLFR H FLHQWtILFR 0XL WDV YH]HV SUREOHPDV SDWROyJLFRV GLIHUHQWHV RFRUUHP GH IRUPD FRPELQDGD
RX DSUHVHQWDP PDQLIHVWDo}HV VHPHOKDQWHV GLILFXOWDQGR RX LPSRVVLELOLWDQGR D XWLOL]DomR GH
HVTXHPDV GH GLDJQyVWLFR
&RQILUPDQGR DV GLILFXOGDGHV HQXPHUDGDV H[LVWHP FDVRV HP TXH PHVPR HVJRWDQGRVH WRGDV DV
IRQWHV SDUD R OHYDQWDPHQWR GH GDGRV QmR VH FRQVHJXH HODERUDU R GLDJQyVWLFR 1HVWHV FDVRV
FUDTXH VXEVLVWHP DOJXPDV KLSyWHVHV SRVVtYHLV R GLDJQyVWLFR GHILQLWLYR SRGH VHU HODERUDGR D SDUWLU
GDV UHVSRVWDV GR HGLItFLR D DOJXP WLSR GH LQWHUYHQomR GHFLGLGR HP IXQomR GH XP GLDJQyVWLFR DLQGD
SURYLVyULR
2 SULPHLUR FRQWH[WR FLWDGR RQGH SRGHP VHU XWLOL]DGR HVTXHPDV GH GLDJQyVWLFR GH FHUWH]D RV
IHQ{PHQRV VmR DPSODPHQWH FRQKHFLGRV H D RWLPL]DomR GRV UHVXOWDGRV p XPD VLPSOHV TXHVWmR GH
DSOLFDomR GRV FRQKHFLPHQWRV 2 VHJXQGR FRQWH[WR RQGH VH ODQoD PmR GRV WHVWHV GH LQWHUYHQomR
H R GD LQFHUWH]D SRLV DSHVDU GH XWLOL]DGDV WRGDV DV WpFQLFDV GH OHYDQWDPHQWR GH VXEVtGLRV
SHUPDQHFH D G~YLGD
(QWUH GRLV H[WUHPRV SRGH VHU HQFRQWUDGD XPD HQRUPH JDPD GH FDVRV FRP YDULDGRV JUDXV GH
FHUWH]D QD IRUPXODomR GR GLDJQyVWLFR ,VWR QRV OHYD D DVVRFLDU D FDGD GLDJQyVWLFR IRUPXODGR D
QRomR GH TXH H[LVWH XPD SUREDELOLGDGH GH VXD FRUUHomR RX HP RXWUDV SDODYUDV D QRomR GH TXH
WRGR GLDJQyVWLFR HQYROYH XP ULVFR GH LQFRUUHomR
$ SDUWLU GHVWD FRQVWDWDomR R REMHWLYR ILQDO GR SURFHVVR GHL[D GH VHU HQWHQGLGR FRPR D FHUWH]D GR
GLDJQyVWLFR PDV VLP XP GLDJQyVWLFR PXLWR SURYiYHO
$ '(),1,d2 '$ &21'87$ $ 6(5 6(*8,'$
$V KLSyWHVHV GH HYROXomR IXWXUD H DV DOWHUQDWLYDV GH LQWHUYHQomR
(VWDEHOHFLGR R GLDJQyVWLFR GR SUREOHPD SDWROyJLFR R WpFQLFR HVWD GH SRVVH GR FRQKHFLPHQWR JHUDO
GR SURFHVVR H SRUWDQWR GHYH SUHSDUDU VXD LQWHUYHQomR
$QWHV GD GHILQLomR GD FRQGXWD SURSULDPHQWH GLWD D VHU WRPDGD D SDUWLU GR GLDJQyVWLFR VmR
OHYDQWDGDV DV KLSyWHVHV GH HYROXomR IXWXUD GR SUREOHPD $ HVVH FRQMXQWR GH KLSyWHVHV GDPRV R
QRPH GH SURJQyVWLFR $WUDYpV GR SURJQyVWLFR QmR VH SUHWHQGH FKHJDU D XPD ~QLFD SUHYLVmR GR
IXWXUR PDV VLP LV DOWHUQDWLYDV SRVVtYHLV GH GHVHQYROYLPHQWR GR SUREOHPD 3HUFHEHVH TXH p
LPSRVVtYHO SUHYHU IHQ{PHQRV TXH DLQGD HVWLR SRU RFRUUHU VHP WHU FODUR TXH HVWD VH WUDWDQGR GH
SRVVLELOLGDGHV H QmR GH FHUWH]DV
(QTXDQWR R GLDJQyVWLFR p XPD DWLYLGDGH XQLWHPSRUDO GH DYDOLDomR GH XPD VLWXDomR YHULILFDGD HP
GHWHUPLQDGR LQVWDQWH GR SURFHVVR R SURJQyVWLFR p PXOWLWHPSRUDO GHYHQGR R WpFQLFR YDWLFLQDU FRP
EDVH HP GHWHUPLQDGR SDUkPHWURV D HYROXomR GR FDVR DR ORQJR GR WHPSR
2 SURJQyVWLFR p EDVHDGR HP GDGRV IRUQHFLGRV SHOR WLSR GH SUREOHPD SHOR VHX HVWiJLR GH
GHVHQYROYLPHQWR SHODV FDUDFWHUtVWLFDV JHUDLV GR HGLILFLR H SHODV FRQGLo}HV GH H[SRVLomR D TXH HVWi
VXEPHWLGR (QWUDP HP FRQVLGHUDomR SRUWDQWR R TXDGUR GH HYROXomR QDWXUDO GR SUREOHPD DV
FLUFXQVWkQFLDV HP TXH HOH SRUYHQWXUD VH DSUHVHQWH R WHUUHQR VREUH R TXDO VH GHVHQYROYH H RV
FXLGDGRV H FRQGLo}HV TXH URGHLDP R HGLItFLR
$ HODERUDomR PHQWDO TXH FRQGX] j IRUPXODomR GR SURJQyVWLFR SUHVVXS}H D VLQWHWL]DomR GRV
SDUkPHWURV FLWDGRV GHQWUR GH XP TXDGUR JHUDO D FRPSDUDomR GHVWH TXDGUR FRP FDVRV
VHPHOKDQWHV SHUPLWH GHOLPLWDU R FDPSR GRV SRVVtYHLV FXUVRV GR SUREOHPD SDWROyJLFR (VWD
FRPSDUDomR H RV FRQKHFLPHQWRV TXH R WpFQLFR SRVVXL GD IHQRPHQRORJLD GRV SUREOHPDV
SDWROyJLFRV VHXV SURFHVVRV ItVLFRV H TXtPLFRV GH HYROXomR SRGHP SHUPLWLU D LQIHULomR GR VHX
GHVHQYROYLPHQWR HP IXQomR GDV YDULiYHLV GLQkPLFDV LQWHUYHQLHQWHV
2 LQWHUHVVH SHOD SUHYLVmR GR GHVHQYROYLPHQWR GRV D SUREOHPDV SDWROyJLFRV H[LVWH SDUD RV FDVRV
VLPSOHV GH GLDJQyVWLFR H UHSDUR HYLGHQWHV PDV HVWH LQWHUHVVH ( DLQGD PDLRU SDUD RV SUREOHPDV
PDLV FRPSOH[RV FRP HVSHFLDO rQIDVH SDUD DTXHOHV FXMD SRVVLELOLGDGH GH UHVROXomR FRPSOHWD H
UHPRWD $ DYDOLDomR GR IXWXUR GHVHQYROYLPHQWR GR SUREOHPD SDWROyJLFR TXDQGR FRUUHWDPHQWH
H[HFXWDGD SRGH JUDGXDU D SRVVLELOLGDGH TXH VH DOFDQFH R REMHWLYR LQLFLDO GR SURFHVVR TXH SRGH
VHU VLPSOHV FRPR p HYHQWXDOPHQWH R GHVDSDUHFLPHQWR GH XP VLQWRPD RXPDLV FRPSOH[R FRPR p D
UHHVWUXWXUDomR UDGLFDO GR PRGR FRPR WUDEDOKD R HGLILFLR ([LVWHP FDVRV GHSHQGHQGR GDV
FDUDFWHUtVWLFDV GR HGLItFLR GR WLSR GH SUREOHPD H GR VHX HVWiJLR GH HYROXomR TXH SRGHP H[LJLU D
UHIRUPXODomR GR REMHWLYR LQLFLDO QR VHQWLGR GH TXH R SUREOHPD VLPSOHVPHQWH WHQKD VXD SURJUHVVmR
FRQWURODGD (P DOJXQV FDVRV H FRQIRUPH R SURJQyVWLFR R TXH VH SRGH DOPHMDU p TXH D VLWXDomR QmR
SLRUH
([LVWHP SUREOHPDV SDWROyJLFRV SRU RXWUR ODGR TXH SUDWLFDPHQWH QmR SHUPLWHP TXDO TXHU WLSR GH
LQWHUYHQomR FRQGX]LQGR R HGLILFLR QXP PDLRU RX PHQRU SUD]R QR VHQWLGR GR ILP GH VXD YLGD ~WLO
1HVWHV FDVRV GH SURJQyVWLFR SHVVLPLVWD TXDQWR j HYROXomR GH SUREOHPD XPD GLVWLQomR
WHUPLQROyJLFD GHYH VHU IHLWD TXDQWR D H[SUHVVmR SURJQyVWLFR UXLP 0XOWDV YH]HV p XWLOL]DGD D
H[SUHVVmR SURJQyVWLFR UXLP TXDQGR XPD HYROXomR GHVIDYRUiYHO p SUHYLVWD 1HVWHV FDVRV VH IRU
LQHYLWiYHO D SHUGD GR HGLILFLR R SURJQyVWLFR HVWDYD FRUUHWR H SRUWDQWR VHJXQGR &KDVWDQJ >@ HUD
ERP H QmR UXLP $LQGD VHJXQGR &KDVWDQJ VHU HYLWDGD D FRQIXVmR HQWUH R DWR GH SUHYHU H R
UHVXOWDGR GD SUHYLVmR
)RUPXODGR R GLDJQyVWLFR FR H R SURJQyVWLFR GH XP GDGR SUREOHPD SDVVDVH j IDVH GH HODERUDomR
GDV DOWHUQDWLYDV GH LQWHUYHQomR SRVVtYHLV
1D IDVH GH OHYDQWDPHQWR GH VXEVtGLRV p D WpFQLFD GH REVHUYDomR H XWLOL]DomR GRV LQVWUXPHQWRV TXH
FRQGLFLRQD D HILFLrQFLD 3DUD R GLDJQyVWLFR p D VHQVLELOLGDGH SDUD D LQWHUSUHWDomR H D FDSDFLGDGH GH
DQiOLVH H HQWHQGLPHQWR GRV IHQ{PHQRV TXH VmR LPSUHVFLQGtYHLV $ IDVH GH OHYDQWDPHQWR GDV
DOWHUQDWLYDV GH LQWHUYHQomR SRVVtYHLV H[LJH GR WpFQLFR DOpP GR FRQKHFLPHQWR GD WHFQRORJLD GH
LQWHUYHQomR GLVSRQtYHO QtYHO XPD JUDQGH SDUFHOD GH FULDWLYLGDGH e DWUDYpV GHVWD FULDWLYLGDGH TXH p
WpFQLFR D SDUWLU GH GHWHUPLQDGRV SDUkPHWURV H D SDUWLU GR VHX FRQKHFLPHQWR LPDJLQD H IRUPDOL]D
DOWHUQDWLYDV GH FRQGXWD RX PDLV SDUWLFXODUPHQWH GH LQWHUYHQomR TXH VmR SRVWHULRUPHQWH MXOJDGDV H
KLHUDUTXL]DGDV
$ GHFLVmR GR TXH ID]HU
,QLFLDOPHQWH SDUD TXH SDVVD KDYHU XPD GHFLVmR GHYH H[LVWLU XP DOYR RX VHMD XPD VLWXDomR
GHVHMiYHO HP UHODomR D TXDO R SUREOHPD H VXD H[WHQVmR p GHILQLGR 1R GLDJQyVWLFR GD VLWXDomR p
HVWDEHOHFLGD D GLIHUHQoD HQWUH D VLWXDomR REVHUYDGD H D VLWXDomR GHVHMDGD D GLIHUHQoD HQWUH R
GHVHPSHQKR UHDO H R UHTXHULGR HP VXPD HQWUH XP REMHWR H R VHX PRGHOR 1R GLDJQyVWLFR
LGHQWLILFDVH R GHVYLR HP VHJXL GD OHYDQWDPVH DV DOWHUQDWLYDV GH LQWHUYHQomR SRVVtYHLV H
ILQDOPHQWH GHQWUH DV Do}HV SRVVtYHLV p HVFROKLGD DTXHOD PDLV DGHTXDGD SDUD UHGX]LU RX HOLPLQDU R
GHVYLR SHUFHELGR
2 GLDJQyVWLFR GD VLWXDomR p JXLDGR HVVHQFLDOPHQWH SHOR GHVHPSHQKR UHTXHULGR SHOR PRGHOR
HVWLSXODGR $ IDVH GH GHILQLomR GD FRQGXWD QR HQWDQWR WHP FRQGLFLRQDQWHV PDLV DPSORV VHQGR R
GHVHPSHQKR LGHDO UHTXHULGR DSHQDV XP QRUWH JHQpULFR 1D IDVH GH DYDOLDomR H HVFROKD DV Do}HV
LPDJLQDGDV VmR KLHUDUTXL]DGDV SHOR MXOJDPHQWR GH VXDV SRVVtYHLV FRQVHTrQFLDV $ HVFROKD
UDFLRQDO UHFDL QD DomR RX QD VHULH GH Do}HV TXH HP YLVWD GD LQFHUWH]D H GRV ULVFRV SUHHQFKD GD
PHOKRU IRUPD RV FULWpULRV HVWDEHOHFLGRV $ GHFLVmR ILQDO p JXLDGD SHOD SURFXUD GR PHOKRU
GHVHPSHQKR SRVVtYHO GHQWUR GR PHQRU FXVWR DOFDQoiYHO 5HVXPLQGR D GHFLVmR p EDVHDGD QD
UHODomR FXVWREHQHItFLR GH FDGD XPD GDV DOWHUQDWLYDV REHGHFHQGR XP GHVHPSHQKR ILQDO PtQLPR
UHTXHULGR (VWDEHOHFHU XP GHVHPSHQKR PtQLPR DFHLWiYHO VLJQLILFD TXH QR FDVR GH QHQKXPD
VROXomR VDWLVIDWyULD VHU HQFRQWUDGD D GHFLVmR Sy GH VHU D GH UHWRUQDU j IDVH GH GLDJQyVWLFR QD
EXVFD GH VROXo}HV PHOKRUHV
$ GHILQLomR GD FRQGXWD HQYROYH GD PHVPD IRUPD TXH R GLDJQyVWLFR XP SURFHVVR ULFR GH
HODERUDomR PHQWDO TXH FXOPLQD QXPD GHFLVmR TXH WHP DVVRFLDGD QHFHVVDULDPHQWH DOJXPD
LQFHUWH]D VREUH RV HIHLWRV GD DomR HVFROKLGD $ HVVrQFLD GH XPD GHFLVmR p D GH TXH p WRPDGD
GHQWUR GH XP XQLYHUVR SUREDELOtVWLFR H SRUWDQWR HQ YROYH XP ULVFR UHODWLYR j LQFHUWH]D (VWD
LQFHUWH]D SRGH VHU GHELWDGD DR SUySULR DWR GH HODERUDomR PHQWDO H WDPEpP DR JUDX GH
FRQKHFLPHQWR H FHUWH]D TXH HVWD DVVRFLDGD D FDGD DOWHUQDWLYD HP WHUPRV GRV VHXV HIHLWRV
$ GHILQLomR GD FRQGXWD p IHLWD OHYDQGRVH HP FRQWD WUrV SDUkPHWURV EiVLFRV TXH VmR DVVRFLDGRV D
FDGD DOWHUQDWLYD GH LQWHUYHQomR
5HODomR FXVWREHQHItFLR
7RGD DOWHUQDWLYD WHP DVVRFLDGR XP JUDX GH LQFHUWH]D TXDQWR D VHXV HIHLWRV &RQVHTHQWHPHQWH
SRGHPRV DVVRFLDU D FDVD XPD GDV SRVVtYHLV LQWHUYHQo}HV XPD SUREDELOLGDGH TXDQWR D HILFLrQFLD GR
UHVXOWDGR (VWD SUREDELOLGDGH HVWi GLUHWDPHQWH UHODFLRQDGD FRP D LQFHUWH]D GH FRUUHomR GR
GLDJQyVWLFR H FRP D HILFLrQFLD GHPRQVWUDGD SHOR WLSR HVSHFLILFR GH LQWHUYHQomR HP FDVRV
VHPHOKDQWHV
5HODomR FXVWREHQHItFLR
2 HVWXGR GRV FXVWRV GDV DOWHUQDWLYDV GH LQWHUYHQomR SDUWH GH XPD FRQVWDWDomR LPSRUWDQWH
4XDOTXHU TXH VHMD D RULJHP RX D QDWXUH]D GR SUREOHPD SDWROyJLFR R FXVWR GD WDUHID GH UHVROYHU R
SUREOHPD VRPDGR DR FXVWR GD FRQVWUXomR IDOKD RULJLQDO p VHPSUH PDLRU GR TXH VHULD R FXVWR GH
XPD FRQVWUXomR TXH WLYHVVH XP GHVHPSHQKR VDWLVIDWyULR
$V DOWHUQDWLYDV GH LQWHUYHQomR GHYHP VHU FRPSDUDGDV WDQWR HP WHUPRV GRV FXVWRV HQYROYLGRV
FRPR HP WHUPRV GR GHVHPSHQKR GR HGLILFLR DR ORQJR GR WHPSR TXH FDGD DOWHUQDWLYD SURSLFLD (P
RXWUDV SDODYUDV p QHFHVViULR R FRQIURQWR GRV EHQHItFLRV TXH SRVVDP VHU DXIHULGRV WDQWR HP WHUPRV
LQVWDQWkQHRV FRPR QR GHFRUUHU GR UHVWDQWH GD YLGD ~WLO GR HGLItFLR
$WUDYpV GR VLVWHPD GH DYDOLDomR H FKHFDJHP GRV HIHLWRV GDV GHFLV}HV HP WHUPRV GR GHVHPSHQKR
GR HGLILFLR p SRVVtYHO GLULPLU DV LQFHUWH]DV LQHUHQWHV j IRUPXODomR GR GLDJQyVWLFR H j GHILQLomR GD
FRQGXWD H HYHQWXDOPHQWH FRUULJLU HUURV FRPHWLGRV QR SURFHVVR GR WUDWDPHQWR RWLPL]DQGRVH R
GHVHPSHQKR ILQDO REWLGR
(VWH FRQWLQXR SURFHVVR GH DYDOLDomR H FKHFDJHP SDVVD QR PRPHQWR HP TXH VH DYDOLD TXH R
GHVHPSHQKR REWLGR Mi HVWHMD RWLPL]DGR D QmR ID]HU SDUWH GR SURFHVVR GH UHVROXomR GR SUREOHPD
SDWROyJLFR WUDQVIRUPDQGRVH GXUDQWH R UHVWDQWH GD YLGD ~WLO GR HGLILFLR HP LQVSHo}HV SHULyGLFDV QR
FRQWH[WR GD PDQXWHQomR GHVWH HGLItFLR
5HVROYLGR R FDVR LQGLYLGXDO R SURFHGLPHQWR JHQpULFR DLQGD QmR HVWi FRQFOXtGR SRLV R
FRQKHFLPHQWR DGTXLULGR GHYH VHU GLUHFLRQDGR QR VHQWLGR GR GHVHQYROYLPHQWR JOREDO GD 3DWRORJLD
GDV &RQVWUXo}HV $ 3DWRORJLD GDV &RQVWUXo}HV SRGH VH GHVHQYROYHU EDVLFDPHQWH D SDUWLU GR
FRQKHFLPHQWR WHyULFR FDGD YH] PDLRU GRV IHQ{PHQRV QDWXUDLV H D SDUWLU GD GLYXOJDomR GRV
FRQKHFLPHQWRV SUiWLFRV REWLGRV QR WUDWDPHQWR GH FDGD WLSR GH SUREOHPD SDWROyJLFR
&RQILJXUDGD D QHFHVVLGDGH GH TXH R FRQKHFLPHQWR WpFQLFR H FLHQWtILFR QmR VH UHVWULQMD DR WpFQLFR
HQYROYLGR D VXD GLYXOJDomR SUHVVXS}H D IRUPDOL]DomR SRU HVFULWR GD KLVWyULD GR SUREOHPD H GH VXD
VROXomR 3UHWHQGHVH FRP HVWH UHJLVWUR QmR D QDUUDomR OLWHUiULD GH IDWRV H IHQ{PHQRV ItVLFRV PDV D
VtQWHVH GR FRQKHFLPHQWR WpFQLFR H FLHQWtILFR HPSUHJDGR H SULQFLSDOPHQWH DGTXLULGR QR SURFHVVR GH
UHVROXomR GR SUREOHPD
(VWH UHJLVWUR VH FRQVWLWXL QD IRQWH PDLV VHJXUD SDUD D REWHQomR GH GDGRV HVWDWtVWLFRV VREUH DV
PDQLIHVWDo}HV H LQFLGrQFLD GRV SUREOHPDV SDWROyJLFRV DVVLP FRPR GD HILFLrQFLD GRV GLYHUVRV WLSRV
GH WUDWDPHQWR (VWHV GDGRV FRQIRUPH VDOLHQWDGR DQWHULRUPHQWH QR LWHP VmR VXEVtGLRV
HVVHQFLDLV SDUD R GLDJQyVWLFR GH FDVRV VHPHOKDQWHV H SDUD D GHILQLomR QHVWHV FDVRV GD FRQGXWD
WHUDSrXWLFD PDLV HILFLHQWH
'D DQiOLVH IHLWD SRGHPRV FRQFOXLU TXH VH WRGRV RV SURFHVVRV GH WUDWDPHQWR GH HGLItFLRV IRVVHP
LQGHSHQGHQWH GR JUDX GH r[LWR UHJLVWUDGDV H GLYXOJDGRV R FRQKHFLPHQWR GD 3DWRORJLD H D
FDSDFLGDGH JHUDO GH UHVROXomR GRV SUREOHPDV VHULD HQRUPHPHQWH DPSOLDGD 2FRUUH QR HQWDQWR
TXH GH XP ODGR XPD JUDQGH SDUWH GRV HGLItFLRV FRP SUREOHPDV QmR VmR UHJLVWUDGRV VHJXQGR XPD
PHWRGRORJLD FLHQWtILFD H LQGLYLGXDOL]DGD SDVVtYHO GH UHJLVWUR H GH RXWUR XPD SDUWH GRV HGLItFLRV
WUDWDGRV FRUUHWDPHQWH QmR WHP D KLVWyULD GR WUDWDPHQWR GLYXOJDGD (P FRQVHTrQFLD GLVVR VmR
tQILPRV DR PHQRV QR %UDVLO RV GDGRV HVWDWtVWLFRV D UHVSHLWR GRV SUREOHPDV SDWROyJLFRV H VREUH R
VHX WUDWDPHQWR
$3/,&$d2 '$ 0(72'2/2*,$ &$626
$ PHWRGRORJLD DSUHVHQWDGD QmR p HVSHFtILFD H QHP UHVWULWD D DOJXP WLSR SDUWLFXODU GH SUREOHPD
SDWROyJLFR $R LQYHUVR HVWD PHWRGRORJLD SRGH HP VXDV OLQKDV EiVLFDV VHU HVWHQGLGD j UHVROXomR
GH TXDOTXHU VLWXDomR HP TXH RV HGLItFLRV QmR HVWHMDP DSUHVHQWDQGR GHVHPSHQKR VDWLVIDWyULR
6mR DSUHVHQWDGRV D VHJXLU GLYHUVRV SUREOHPDV SDWROyJLFRV DFRQWHFLGRV QD UHDOLGDGH H FXMR
SURFHVVR GH UHVROXomR IRL UHODWDGR SHORV GLIHUHQWHV WpFQLFRV HQYROYLGRV VHJXQGR FULWpULRV FLHQWtILFRV
H VHJXLQGR D PHWRGRORJLD SURSRVWD
&$62 'HVFRODPHQWR GH SDVWLOKDV GD IDFKDGD GH XP JUDQGH 6KRSSLQJ &HQWHU HP 6mR 3DXOR
>@
UHDV RQGH DFRQWHFHUDP RV GHVFRODPHQWRV VLWXDPVH QDV IDFKDGDV RQGH RFRUUH D DomR PDLV
LQWHQVD GD LQVRODomR GLUHWD RX QDV UHJL}HV FRQWtJXDV LV MXQWDV GH GLODWDomR
$OpP GDV iUHDV RQGH RFRUUHX R GHVFRODPHQWR RXWUDV DSUHVHQWDYDP VRP FDYR j SHUFXVVmR
3URFHVVR GH DVVHQWDPHQWR GDV SDVWLOKDV FRP SDSHO SHUIXUDGR FRODGR j IDFH LQWHUQDGD SDVWLOKD
$QDPQHVH
)RL HVWXGDGR PDSD Mi HODERUDGR RQGH HUDP LQGLFDGDV iV DUHDV DIHWDGDV H DV iUHDV GH
GHVFRODPHQWR SRWHQFLDO SRU DSUHVHQWDUHP VRP FDYR j SHUFXVVmR
HGLItFLR IRL FRQVWUXtGR DSUR[LPDGDPHQWH GH] DQRV DQWHV GD YLVWRULD +i DSUR[LPDGDPHQWH VHLV
PHVHV WRGR R UHYHVWLPHQWR GD IDFKDGD IRL UHIHLWR VHQGR TXH Ki XP PrV FRPHoDUDP D RFRUUHU
RV GHVFRODPHQWRV
([DPHV &RPSOHPHQWDUHV
,Q /RFR (QVDLRV GH DUUDQFDPHQWR GDV SDVWLOKDV HP GLYHUVRV ORFDLV PRVWUDUDP TXH PHVPR
QRV ORFDLV TXH DSUHVHQWDYDP VRP FDYR D IRUoD GH DUUDQFDPHQWR QHFHVViULD p UHODWLYDPHQWH
JUDQGH GHYLGR DR IHQ{PHQR GR HQFXQKDPHQWRGDV MXQWDV
(P /DERUDWyULR
$ FDUDFWHUL]DomR GDV SDVWLOKDV FHUkPLFDV XVDGDV GHPRQVWURX VHUHP HODV GH ERD TXDOLGDGH
2FRUUH TXH HVWDV DSUHVHQWDUDP XPD SHOtFXOD GH FROD GH DPLGR VREUH D VXSHUItFLH GRV IXURV
3DVWLOKD FRP SDSHO SHUIXUDGR QR YHUVR DUJDPDVVD DGHVLYD VLPLODU L XVDGD QD REUD
3DVWLOKD VHP SDSHO SHUIXUDGR QR YHUVR H VHP D SHOtFXOD GH FROD GH DPLGR DUJDPDVVD
DGHVLYD VLPLODU L XVDGD QD REUD
3DVWLOKD VHP SDSHO SHUIXUDGR QR YHUVR H VHP D SHOtFXOD GH FROD GH DPLGR DUJDPDVVD
DGHVLYD UHFRQKHFLGDPHQWH HILFLHQWH
2 UHVXOWDGR GHVWHV HQVDLRV PRVWURX QmR KDYHU GLIHUHQoD QD DGHUrQFLD TXDQWR j DUJDPDVVD DGHVLYD
HPSUHJDGD 2 PHVPR QmR SRGH VHU GLWR TXDQWR j H[LVWrQFLD GR SDSHO SHUIXUDGR HQWUH D SDVWLOKD H D
DUJDPDVVD RFRUUHQGR QR FDVR GD H[LVWrQFLD GR SDSHO SHUIXUDGR H GD SHOtFXOD GD FROD GH DPLGR
XPD VHQVtYHO GLPLQXLomR GD DGHUrQFLD
'LDJQyVWLFR
2 GHVFRODPHQWR GDV SDVWLOKDV RFRUUHX QRV ORFDLV HP TXH FRQFRPLWDQWHPHQWH H[LVWLD XPD DGHUrQFLD
GHILFLHQWH H HVIRUoRV VROLFLWDQWHV GH PDLRU LQWHQVLGDGH 2V HV IRUoRV VROLFLWDQWHV PDLRUHV RFRUUHP
QDV IDFKDGDV VXEPHWLGDV j LQVRODomR GLUHWD H QDV iUHDV FRQWtJXDV DV MXQWDV GH GLODWDomR GD
HVWUXWXUD $ DGHUrQFLD GHILFLHQWH SRGH VHU GHELWDGD j SUySULD WHFQRORJLD GH SURGXomR H
DVVHQWDPHQWR GDV SDVWLOKDV 'RLV IDWRUHV SRGHP VHU UHVVDOWDGRV FRPR EiVLFRV
'LPLQXLomR GD iUHD Pi[LPD GH FRQWDWR SDUD GD iUHD SRVVtYHO VH QmR KRXYHVVH R SDSHO
SHUIXUDGR
([LVWrQFLD GH XPD SHOtFXOD GH FROD GH DPLGR VREUH D SDVWLOKD QD UHJLmR GRV IXURV SHOtFXOD
HVWD TXH GLILFXOWD D DGHUrQFLD
&RQGXWD 5HFRPHQGDGD
5HFXSHUDomR GD IDFKDGD SHOR UHDVVHQWDPHQWR GDV SDVWLOKDV WDQWR QDV iUHD HP TXH KRXYH R
GHVFRODPHQWR GDV SDVWLOKDV FRPR QDV iUHDV RQGH DWUDYpV GR UHVXOWDGR GH HQVDLRV GH SHUFXVVmR
VH FRQFOXLX SHOD H[LVWrQFLD GH XP JUDQGH SRWHQFLDO GH GHVFRODPHQWR
'HVFDUWRXVH D QHFHVVLGDGH GR UHDVVHQWDPHQWR GDV SDVWLOKDV GH WRGDV DV IDFKDGDV DSHVDU GD
SRVVtYHO DGHUrQFLD LQDGHTXDGD SHOD H[LVWrQFLD GR HIHLWR GR HQFXQKDPHQWR GDV SDVWLOKDV TXH
GLILFXOWD R VHX GHVFRODPHQWR
1R SURFHVVR GH UHDVVHQWDPHQWR GDV SDVWLOKDV IRL SURLELGD D XWLOL]DomR GH SDSHO SHUIXUDGR QD IDFH
GH DGHUrQFLD FRP UHVXOWDGRV H[FHOHQWHV
&$62 )LVVXUDomR HP SDUHGHV GH DOYHQDULD GH EORFR VtOLFRFDOFiULR HP HGLItFLRV GH FRQMXQWR
KDELWDFLRQDO GD &LGDGH GH &DPSLQDV >@
2 SURFHVVR D VHJXLU DSUHVHQWDGR GH UHFXSHUDomR GH FRQMXQWR KDELWDFLRQDO FXMRV HGLILFLRV
DSUHVHQWDYDP JUDQGH LQFLGrQFLD GH ILVVXUDV QDV MXQWDV GD DOYHQDULD p R UHVXPR GH SDUHFHU WpFQLFR
HODERUDGR D SDUWLU GH VROLFLWDomR GD FRQVWUXWRUD TXH SRU VXD YH] DWHQGLD j TXHL[D GRV XVXiULRV H
LQWLPDomR GRV SRGHUHV S~EOLFRV
9LVWRULD
)LVVXUDV HP PDLRU LQFLGrQFLD QDV IDFKDGDV PDLV FRPSURPHWLGDV SHORV DJHQWHV DWPRVIpULFRV
$QDPQHVH
&RQWDWR FRP FRQVWUXWRUD GHPRQVWURX TXH D WHFQRORJLD XWLOL]DGD QmR KDYLD VLGR DGDSWDGD LV
FRQGLo}HV EUDVLOHLUDV
&RQWDWR FRP R GHWHQWRU GD WHFQRORJLD GR SURFHVVR FRQVWUXWLYR WDPEpP GHPRQVWURX TXH HVWD
QmR HVWDYD FRPSOHWDPHQWH GRPLQDGD
OHYDQWDPHQWR GD LQFLGrQFLD GRV SUREOHPDV IRL IHLWR SHOD FRQVWUXWRUD H EDVHDGR HP UHFODPDo}HV
GRV XVXiULRV TXDQWR j SHUGD GD HVWDQTXHLGDGH (VWH WLSR GH PHWRGRORJLD IRL HPSUHJDGR GHYLGR
D GLILFXOGDGH QD YLVXDOL]DomR GDV ILVVXUDV TXH WLQKDP SHTXHQD DEHUWXUD
SUREOHPD -i WLQKD VLGR REMHWR GH GLDJQyVWLFR LQFRUUHWR $ FDXVD DSRQWDGD KD YLD VLGR D UHWUDomR
GD DUJDPDVVD (VWD FDXVD QmR IRL FRQVLGHUDGD SURFHGHQWH XQLD YH] TXH D XWLOL]DomR GH
DUJDPDVVD VHPHOKDQWH QD PHVPD UHJLmR HP REUDV XWLOL]DQGR RXWURV WLSRV GH EORFRV QmR
DSUHVHQWRX SUREOHPDV
([DPHV &RPSOHPHQWDUHV
1mR IRUDP UHDOL]DGRV SRU VH FRQVLGHUDU TXH D WHFQRORJLD QmR HUD VXILFLHQWHPHQWH GRPLQDGD R TXH
SURYRFDYD D QHFHVVLGDGH GH SHVTXLVD ELEOLRJUiILFD H WHFQROyJLFD
3HVTXLVD
$WUDYpV GH SHVTXLVD GH ELEOLRJUDILD HVWUDQJHLUD YHULILFRXVH TXH D WHFQRORJLD FRQVWUXWLYD GHYH VHU
DGDSWDGD jV FDUDFWHUtVWLFDV FOLPiWLFDV ORFDLV H j FDUDFWHUtVWLFD GRV HGLItFLRV
5HDOL]RXVH SHVTXLVD H[SHULPHQWDO GD FDUDFWHUL]DomR GD DUJDPDVVD HPSUHJDGD H GR EORFR
VtOLFRFDOFDULR H[LVWHQWH QR PHUFDGR
&RQGXWD 5HFRPHQGDGD
5HFREULPHQWR GH WRGR R SDQR GDV SDUHGHV FRP XPD WLQWD GH FDUDFWHUtVWLFDV HOiVWLFDV
1RV ORFDLV RQGH DV ILVVXUDV WHP DEHUWXUD VXSHULRU D FDSDFLGDGH GD WLQWD GH UHFREUtODV GHYHVH
UHWLUDU SRU UDVSDJHP XPD FDPDGD GH FP GD DUJDPDVVD H VXEVWLWXtOD SRU RXWUD
VXILFLHQWHPHQWH HOiVWLFD
&$62 &RUURVmR GDV DUPDGXUDV GRV EULVHV GD IDFKDGD GH HGLItFLR HP 5HFLIH >@
2 SURFHVVR D VHJXLU DSUHVHQWDGR GH UHFXSHUDomR GH HGLItFLR S~EOLFR FXMRV EULVHV GDV IDFKDGDV VH
DSUHVHQWDYDP JHQHUDOL]DGDPHQWH ILVVXUDGRV H FRP PDQFKDV IHUUXJLQRVDV H R UHVXPR GH SDUHFHU
WpFQLFR HODERUDGR D SDUWLU GH VROLFLWDomR GR yUJmR S~EOLFR SURSULHWiULR GR HGLItFLR
9LVWRULD
Q~PHUR WRWDO GH EULVHV p GH DSUR[LPDGDPHQWH TXDWUR PLO YDULDQGR HP VXDV IRUPDV VHWH
IRUPDWRV H YDULDQGR DLQGD HP VXDV GLPHQV}HV
8PD SDUWH FHQWUDO H[HFXWDGD HP FRQFUHWR FHOXODU WDPEpP FRP DUPDGXUD GH VXVWHQWDomR
0DLRU LQFLGrQFLD GH PDQFKDV QRV EULVHV ORFDOL]DGRV HP iUHDV GH PHQRU LQVRODomR H SHTXHQD
YHQWLODomR
$QDPQHVH
2V EULVHV IRUDP IDEULFDGRV HP 6mR 3DXOR H WUDQVSRUWDGRV YLD URGRYLiULD SDUD 5HFLIH
$ FRORFDomR GRV EULVHV HP DOJXPDV SDUWHV GR HGLILFLR IRL IHLWD FRQFRPLWDQWHPHQWH j H[HFXomR
GR UHYHVWLPHQWR GH SDVWLOKDV (VWH IDWR DFDUUHWRX TXH R EDQKR GH VROXomR GH iFLGR PXULiWLFR D
XWLOL]DGR QDV SDVWLOKDV DWLQJLVH XPD SDUWH GRV EULVHV (P RXWUDV SDUWHV GR HGLItFLR R IDWR
RFRUUHX HP PHQRU HVFDOD RFRUUHQGR VLWXDo}HV HP TXH RV EULVHV IRUDP PRQWDGRV GHSRLV GD
H[HFXomR GR UHYHVWLPHQWR HP SDVWLOKDV (P WRGRV RV FDVRV QR HQWDQWR WHYHVH GH ID]HU RV
DUUHPDWHV ILQDLV GR DFDEDPHQWR QDV SDUHGHV RQGH RV EULVHV VmR PRQWDGRV QD HVWUXWXUD
TXDQGR QRYDPHQWH IRL XWLOL]DGD D VROXomR GH iFLGR PXULiWLFR
([DPHV &RPSOHPHQWDUHV
FRQFUHWR FHOXODU DSUHVHQWRX XPD UHVLVWLYLGDGH LQIHULRU j GR FRQFUHWR FRPXP QDV FRQGLo}HV
LQLFLDLV GR HQVDLR $R ILQDO GR TXDUWR GLD GH H[SRVLomR D XP DPELHQWH GH EDL[D XPLGDGH UHODWLYD
D D UHVLVWLYLGDGH SUDWLFDPHQWH TXLQWXSOLFRX R VHX YDORU H WRUQRXVH TXDVHGXDV YH]HV
PDLRU GR TXH D GR FRQFUHWR &2080
FREULPHQWR GDV DUPDGXUDV WDQWR QDV SDUWHV GH FRQFUHWR QRUPDO TXDQWR QR FRQFUHWR FHOXODU p
EDVLFDPHQWH LUUHJXODU YDULDQGR GH FP D FP
'LDJQyVWLFR
$ RFRUUrQFLD GD FRUURVmR GDV DUPDGXUDV GRV EULVHV GHYH VHU DWULEXtGD jV FDUDFWHUtVWLFDV GR
FRQFUHWR FHOXODU (VWH QmR p FDSD] GH RIHUHFHU XPD SURWHomR DR DoR GR PHVPR WLSR TXH XP
FRQFUHWR QRUPDO RIHUHFH TXDQGR H[SRVWR jV FRQGLo}HV DWPRVIpULFDV DJUHVVLYDV REVHUYDGDV QR
ORFDO
$ FRUURVmR QDV SDUWHV H[HFXWDGDV HP FRQFUHWR FRPXP GHYH VHU DWULEXtGD j HVSHVVXUD LQVXILFLHQWH
GR FREULPHQWR GR FRQFUHWR QRUPDOPHQWH LQIHULRU D FP
2V FRPSRVWRV DJUHVVLYRV GHFRUUHQWHV GD ODYDJHP GH SDVWLOKDV FRP iFLGR PXULiWLFR SRGHP WHU
DFHOHUDGR R SURFHVVR GH FRUURVmR SRUHP D QmR XWLOL]DomR GHVVH iFLGR QmR LPSOLFD HP TXH D
FRUURVmR QmR YLHVVH D FRUUHU
&RQGXWD 5HFRPHQGDGD
6XEVWLWXLomR GRV EULVHV SRU RXWURV LQWHJUDOPHQWH FRQVWLWXtGRV GH FRQFUHWR FHOX ODU SRUpP FRP
DUPDGXUDV QmR VXVFHSWtYHLV D FRUURVmR
&$62 &RUURVmR GDV LQVWDODo}HV GH iJXD IULD H TXHQWH GH HGLItFLR GD FLGDGH GH 6mR 3DXOR >@
2 SURFHVVR D VHJXLU DSUHVHQWDGR GH UHFXSHUDomR GH HGLItFLR FXMDVLQVWDODomHV GH iJXD IULD H
TXHQWH DSUHVHQWDYDP WUHFKRV GH FRUURVmR H YD]DPHQWR H R UHVXPR GH SDUHFHU WpFQLFR HODERUDGR D
SDUWLU GH VROLFLWDomR GR FRQGRPtQLR GR HGLILFLR
9LVWRULD
(GLILFLR WHP RQ]H DQGDUHV WLSR FRP GRLV DSDUWDPHQWRV SRU DQGDU &DGD DSDUWDPHQWR H
FRPSRVWR SRU VDOD WUrV GRUPLWyULRV GRLV EDQKHLURV FRSDFR]LQKD iUHD GH VHUYLoR TXDUWR H
EDQKHLUR GH HPSUHJDGD
VLVWHPD GH DTXHFLPHQWR GD iJXD p FHQWUDOL]DGR HP FDOGHLUDV ORFDOL]DGDV QR VXEVROR
$ WXEXODomR GH iJXD IULD p GH DoR JDOYDQL]DGR H D GH iJXD TXHQWH GH FREUH DPEDV HPEXWLGDV
HP SDUHGH GH DOYHQDULD GH WLMROR UHYHVWLGD FRP SODFDV GH UHVLQD PHODPtQLFD IyUPLFD (VWH WLSR
GH UHYHVWLPHQWR GLILFXOWD D UiSLGD SHUFHSomR GR SUREOHPD (P JHUDO TXDQGR VH SHUFHEH R
SUREOHPD D WXEXODomR Mi DSUHVHQWD SUREOHPD GH YD]DPHQWR VLJQLILFDWLYR
2V YD]DPHQWRV QD WXEXODomR GH JXD VH PDQLIHVWDP SRU HVFRUULPHQWR QR Sp GD SDUHGH H SHOD
GHIRUPDomR H GHVFRODPHQWR GR UHYHVWLPHQWR GH IyUPLFD
$ WXEXODomR GH FREUH HVWDYD HOHWULFDPHQWH FRQHFWDGD j WXEXODomR GH DoR JDOYDQL]DGR QRV
SRQWRV GH PLVWXUD GD iJXD SDUD RV FKXYHLURV EDQKHLURV H ELGrV
$ FRUURVmR QRV WXERV GH DoR JDOYDQL]DGR PDQLIHVWDYDVH HP SRQWRV DOHDWyULRV DR ORQJR GD
WXEXODomR $OJXPDV GDV UHJL}HV FRUURtGDV HVWDYDP SUy[LPDV jV UHJL}HV GH FRQH[}HV RXWUDV
HVWDYDP PDLV SUy[LPDV jV WXEXODo}HV GH FREUH
$ SDUHGH HUD KHWHURJrQHD GR SRQWR GH YLVWD GRV PDWHULDLV FRQVWLWXLQWHV H[LVWLQGR WUHFKRV HP
WLMRORV DVVHQWDGRV FRPDUJDPDVVD H WUHFKRV GH FRQFUHWR $ WXEXODoLR DWUDYHVVDYD HVVDV
UHJL}HV H D FRUURVmR VH PDQLIHVWDYD SUHIHUHQFLDOPHQWH QD VXSHUItFLH HP FRQWDWR FRP RV WLMRORV
$QDPQHVH
)RUDP FROHWDGDV DV VHJXLQWHV LQIRUPDo}HV SUHVWDGDV SRU PRUDGRUHV GR HGLItFLR
'LDJQyVWLFR
$ WXEXODomR GH DoR JDOYDQL]DGR GR HGLItFLR DSUHVHQWDYD FRUURVmR QD VXD VXSHUItFLH H[WHUQD GHYLGR
EDVLFDPHQWH D WUrV IDWRUHV
3UHVHQoD GH XPLGDGH GHYLGR D PLFURYD]DPHQWR QDV MXQWDV
&RQWDWR GRV WXERV FRP PHLR KHWHURJrQHR
$FHOHUDomR GR SURFHVVR GHYLGR DR FRQWDWR HOpWULFR GR WXER GH DoR JDOYDQL]DGR FRP WXER GH
FREUH
&RQGXWD 5HFRPHQGDGD
'XDV DOWHUQDWLYDV GH FRQGXWD VmR SRVVtLYHLV
5HFXSHUDomR GD WXEXODomR GH DoR JDOYDQL]DGR H[LVWHQWH LPSOLFDQGR QD GHVPRQWDJHP
OLPSH]D VXEVWLWXLomR GRV WXERV FRUURtGRV H QRYD PRQWDJHP REVHUYDQGRVH RV VHJXLQWHV
FXLGDGRV
$VVHJXUDU SHUIHLWD YHGDomR GDV MXQWDV GDV FRQH[}HV H UHDOL]DU HQVDLR GH YHULILFDomR GD
HVWDQTXHLGDGH GD WXEXODomR DSOLFDQGR DQWHV GHOD VHU FREHUWD FRP DUJDPDVVD SUHVVmR
KLGURVWtWLFD GH YDORU LJXDO D YH]HV D PDLRU DOWXUD PDQRPpWULFD YHULILFDGD SRU SUXPDGD
1R FDVR GDV SDUHGHV FRQVWLWXtGDV GH PDWHULDLV GLIHUHQWHV DUJDPDVVD WLMRORV EORFRV GH
FRQFUHWR FREULU D VXSHUItFLH VREUH j TXDO VHUi DVVHQWDGD D WXEXODomR FRP DUJDPDVVD
LJXDO DTXHOD TXH VHUi GHSRLV XWLOL]DGD SDUD HPEXWLOD GH PRGR TXH D WXEXODomR ILTXH HP
FRQWDWR FRP DSHQDV XP WLSR GH PDWHULDO
$QDPQHVH
$ SDUWLU GR SURMHWR IRUDP HODERUDGRV RV FURTXLV GRV DPELHQWHV VDQLWiULRV RULHQWDQGR D YLVWRULD
9HULILFRXVH TXH D FRQVWUXWRUDOTXH WLQKD XP JUDQGH SRUWH H HUD EHP FRQFHLWXDGD D pSRFD GD
H[HFXomR GR HGLItFLR VH HQFRQWUDYD HP HVWDGR SUpLQVROYrQFLD
9HULILFRXVH TXH QRV DSDUWDPHQWRV HP TXH QmR KDYLD D XWLOL]DomR GR EDQKHLUR GH YHQWLODomR
LQGLUHWD RV SUREOHPDV QmR VH PDQLIHVWDYDP
$ VLWXDomR KDYLD VLGR REMHWR GH LQWHUYHQo}HV TXH SURFXUDYDP DWXDU QDV WXEXODo}HV GH HVJRWR H
iJXD IULD VHP VXFHVVR
$WUDYpV GH FRQVXOWD DRV XVXiULRV GRV DSDUWDPHQWRV GR SULPHLUR DQGDU YHULILFRX VH VHU FRPXP
R IHQ{PHQR GR UHWRUQR GD HVSXPD QDV LQVWDODo}HV QD iUHD GH VHUYLoR H FR]LQKD
'LDTQyVWLFR
$ TXHVWmR GDV PDQLIHVWDo}HV RFRUULGDV QRV IRUURV IDOVRV GRV EDQKHLURV SRGH VHU GHELWDGD j
GHILFLrQFLD GH YHQWLODomR 2 YDSRU OLEHUWDGR QD XWLOL]DomR GR FKXYHLUR DR SHUFRUUHU R WHWR GR
EDQKHLUR FRQWtJXR HQWUD HP FRQWDWR FRP HOHPHQWRV FRP PHQRU WHPSHUDWXUD R WXER GH
YHQWLODomR DV FDL[DV GH OX] H VH FRQGHQVD (VWH SUREOHPD p VHQVLYHOPHQWH DJUDYDGR SHOD
LQH[LVWrQFLD GH DEHUWXUD QD IDFKDGD SDUD D VDOGD GR YDSRU
&RQGXWD 5HFRPHQGDGD
&ULDomR GH XP 6+$)7 GH YHQWLODomR GRV EDQKHLURV GLPHQVLRQDQGR SDUD UHWLUDU R YDSRU JHUDGR
HYLWDQGRVH DVVLP R IHQ{PHQR GD FRQGHQVDomR
7URFD GRV FRPSRQHQWHV GR VLVWHPD GH HVJRWR SDUD 39& D PHQRV GRV WXERV GH TXHGD TXH VH
HQFRQWUDYDP HP ERP HVWDGR
5HSURMHWDU H UHFRQVWUXLU R VLVWHPD GH HVJRWR GR SULPHLUR SDYLPHQWR
5()(51&,$6 %,%/,2*5),&$6
>@ 5(<*$(576 -* *$63(5 0%
%UX[HOOHV VHSW
>@
HW DOLI &RPPHQW HYLWHU OHV GpJDWV &67& 5HYXH %UX[HOOHV VHSW
>@ %216+25 5% +$55,621 +: 4XDOLW\ LQ WUDGLWLRQDO KRXVLQJ DQ LQYHVWLJDWLRQ LQWR IDXOWV DQG
WKHLU DYRLGDQFH /RQGRQ +HU 0DMHVWU\
V 6WDWLRQHU\ RIILFH Y %XLOGLQJZHVHDUFK
(VWDEOLVKPHQW 5HSRUW
>@ $662&,$7,21 3285 /e78'( '( /$ 3$7+2/2*,( (7 '( /
(175(7,(1 '8 %7,0(17
(3(%$7 /
pWDW GH VDQWp GHV EkWLPHQWV &DKtHUV GX &HQWUH 6FLHQILILTXH HW 7HFKQLTXH GX
%DWLPHQW 3DULV 5 VHSW
>@ ,167,7872 '( 3(648,6$6 7(&12/2*,&$6 '2 (67$'2 '( 62 3$8/2 ,37 3DWRORJLD
QD &RQVWUXomR SURJUDPD GH FROHWD GH LQIRUPDo}HV 6mR 3DXOR 5HODWyULR QR
>@ %8,/',1* SDWKRORJ\ &,% ,QIRUPDWLRQ 5RWWHUGDP
>@ 5(<*$(576 - 'LDJQRVWLF GHV FDV GH SDWKRORJLH GX EkWLPHQW &67& 5HYXH %UX[HOOHV
GHF
>@ +(/(1( 35/3DWRORJLD GR &RQFUHWR 6mR 3DXOR 3DOHVWUD SURIHULGD QR FXUVR
'LDJQyVWLFR GH )DOKDV GDV (GLILFDo}HV
>@ &20,7e (852 ,17(51$&,21$/ '8 %(721 &(% 'XUDELOLW\ RI &RQFUHWH 6WUXFWXUHV VWDWH RI
WKH DUW UHSRUW 3DULV %XOOHWLQ GLQIRUPDWLRQ Q
>@ (/'5,'*( +- &RPPRQ GHIHFWV LQ EXLOGLQJV /RQGRQ +HU 0DMHVWU\
V 6WDWLRQHU\ 2IILFH
>@ $.8768 0 /23(6 ' 6LPXODomR GR GHVHPSHQKR WpUPLFR GDV HGLILFDo}HV &RQVWUXomR
6mR 3DXOR 6mR 3DXOR 7HFQRORJLD GH (GLILFDo}HV
>@ 0(/9,//( ,$ *25'21 ,$ 7KH UHSDLU DQG PDLQWHQDQFH RI KRXVHV /RQGR 7KH (VWDWHV
*D]HWWH
>@ &$9$/&$17( 06 'HWHULRUDomR ELROyJLFD H SUHVHUYDomR GH PDGHLUDV 6mR 3DXOR ,37
>@ 5(1$8'6$/,6 -/ 7KH GHFLVLRQ PDNLQJ V\VWHPV DQG SURFHVV %XOO &kQFHU 3DULV
>@ &+$67$1* & $848,(5
$ *5(0< ) 3URJQRVWLF NQRZOHGJH LQWHUHVW DQG PHWKRGV
%XOO &kQFHU 3DULV
>@ 6$%%$7,1, )+ 3DUHFHU WpFQLFR j HPSUHVD SULYDGD 6mR 3DXOR
>@
35$1&,6&2 5/$1',
%7
)(51$1'2 +6$%%$7,1,
%7
3$8/2 5 /+(/(1(
%7
%7
%7
:,72/' =0,752:,&=
125%(572 %/,&+7(167(,1