摘要:房地产的投资金额比较大，开发期和建设期比较长，并受国家的产业政策及资金的时间价值等多种因素的影响，因此要对房地产开发项目做出合理的决策，就必须对项目进行财务评价。房地产开发项目的财务评价是房地产项目可行性研究的重要组成部分，是房地产项目决策科学化的重要手段。

　　　本文首先介绍了研究财务评价的背景和意义，概述了国内外对财务评价的研究状况与成果，接着叙述了开发项目财务评价的基本理论和方法，然后对徐州云宝置业有限公司所开发的蓝庭国际项目进行了实证研究。本着理论与实际相结合的原则，运用动态分析与静态分析相结合、定性分析和定量计算相结合的方法，对项目进行了财务评价。文章中主要评价了三个内容：项目的生存能力、项目的盈利能力（主要运用了净现值、内部收益率、投资回收期、投资利润率和投资利税率等评价指标）、项目偿债能力（计算了速动比率、流动比率等指标），据此来判断项目在经济上是否可行。

关键词  项目财务评价；生存能；盈利能力；偿债能力

Abstract:Larger amount of  real estate investment ,development period and a longer payback period, and is subject to the national industrial policy and the time value of money and other factors, so to do the real estate investment projects a reasonable decision-making, it is necessary to conduct systematic evaluation of the project finance. Financial evaluation of real estate development project is an important part of project feasibility research of the real estate, is an important means of real estate project scientific decision. 

　　　This paper first introduces the background and significance of research on financial evaluation,financial evaluation at home and abroad was reviewed on the research status and achievements, and then describes the basic theory and method of financial evaluation of project development, and then makes an empirical study of Xuzhou cloud treasure home development limited Blue Chamber of the international project. In line with the principle of combining theory with practice, using the method of dynamic analysis and static analysis combining qualitative analysis and quantitative calculation, combined the financial evaluation of the project. The main article in the evaluation of the three contents: the viability of the projects, the project profitability (mainly uses the evaluation indexes of net present value, internal rate of return, investment recovery period, the profit rate of investment and the investment profit rate), project solvency (quick ratio, liquidity ratio and other indicators calculated), according to the judgment the feasibility of the project.

Keywords   project financial evaluation   survival   profitability   solvency