,OPDUFKLRHXURSHRGLTXDOLWjHFRORJLFD
SHULVHUYL]LGLULFHWWLYLWjWXULVWLFD
'HFLVLRQH&(GHOOD&RPPLVVLRQHGHODSULOH
*8/GHODSULOH
&ULWHULYDOLGLILQRDODSULOHSURURJDSRVVLELOHILQRDODSULOH
,OPDUFKLRHXURSHRGLTXDOLWjHFRORJLFDO
XQLFRDWWHVWDWRGLHFFHOOHQ]DDPELHQWDOHFHUWLILFDWRGDXQ
RUJDQLVPRLQGLSHQGHQWHHYDOLGRLQWXWWD(XURSDSUHVHQWDXQ
RSSRUWXQLWjXQLFDSHUVRGGLVIDUHOHDVSHWWDWLYH
GHLFOLHQWL
7UDWXWWHOHDWWLYLWjLOWXULVPRqTXHOODFKHSLQHFHVVLWDGLXQ
DPELHQWHLQFRQWDPLQDWR
,OVHWWRUHGHOWXULVPRUDSSUHVHQWDLOGHO3,/FRPXQLWDULRH
FRQWDROWUHPH]]RPLOLRQHGLVWUXWWXUHULFHWWLYH6LWXDWHVSHVVR
LQ]RQHJUDGHYROLPDHFRORJLFDPHQWHIUDJLOLOHVWUXWWXUHGL
ULFH]LRQHWXULVWLFDSRVVRQRHVHUFLWDUHXQDFHUWDSUHVVLRQH
VXOOHULVRUVHDFTXDWLFKHHOHIRQWLGLHQHUJLDHPLQDFFLDUHOD
ELRGLYHUVLWjORFDOHDFDXVDGLXQDLQDGHJXDWDJHVWLRQHGHL
ULILXWL/HQRUPHSLVHYHUHLQPDWHULDGLDPELHQWHOD
FRQVDSHYROH]]DHFRORJLFDHODQHFHVVLWjSHUPROWLIRUQLWRULGL
VHUYL]LHFRORJLFLGLGLVWLQJXHUVLGDJOLDOWULVRQRWXWWL
DUJRPHQWLDIDYRUHGHOO
XVRGHOPDUFKLRHXURSHRGLTXDOLWj
HFRORJLFD
6RGGLVIDUHOHHVLJHQ]HGHLFOLHQWL
1HOODULFHUFDGLYDFDQ]HVHPSUHSLHFRORJLFKHL
FRQVXPDWRULVRQRGLYHQXWLPROWRHVLJHQWL
/
LQGXVWULDWXULVWLFDULWLHQHFKHVRGGLVIDUHTXHVWD
GRPDQGDFRVWLWXLVFDVHPSUHSLODFKLDYHGHO
VXFFHVVR/RVWXGLR7KH7UDYHOOHU+ROLGD\>@
KDGLPRVWUDWRFKHLOGHLWXULVWLVFHJOLHVWUXWWXUH
HFRORJLFKHHFKHO
RSWDSHUXQDPELHQWH
LQFRQWDPLQDWR
>@7UDYHOOHU+ROLGD\7UDYHODQG(QYLURQPHQWJHQQDLR
VWXGLRSXEEOLFDWRGDOOR6WXGLHQNUHLVIU8PZHOWXQG
(QWZLFNOXQJH9SHUFRQWRGHOO
8IILFLRIHGHUDOHSHU
O
DPELHQWHGL%HUOLQR
'DWHDLYRVWULVHUYL]LGLULFHWWLYLWjWXULVWLFDXQVHJQRWDQJLELOHGLHFFHOOHQ]DDPELHQWDOH«
3UHVHQWDWHGRPDQGDSHULO)LRUH
)DWHXQUDSLGRWHVWXWLOL]]DQGRODFKHFNOLVWVXOUHWUR
+DQQRGHWWR
8QLPSRUWDQWHFULWHULRGLVHOH]LRQHSHUFKLXQTXHVLUHFKLLQ
YDFDQ]DqLOFDUDWWHUHLQFRQWDPLQDWRGHOO
DPELHQWHHOD
VLFXUH]]DGHOODVWUXWWXUDWXULVWLFDHGHOOHVXHYLFLQDQ]H3HUJOL
RSHUDWRULODSURWH]LRQHGHOO
DPELHQWHDOO
LQWHUQRHDOO
HVWHUQR
GHOOHVWUXWWXUHULFHWWLYHULYHVWHTXLQGLXQ
HVWUHPDLPSRUWDQ]D
,OPDUFKLR8(GLTXDOLWjHFRORJLFDqULFRQRVFLXWRGDOODPDJJLRU
SDUWHGHLYLDJJLDWRULHXURSHL*OLKRWHOFKHVHQHIUHJLDQR
SRVVRQRVRVWHQHUHDJLXVWRWLWRORGLRSHUDUHSHUULGXUUH
O
LPSDWWRVXOO
DPELHQWHGHOOHORURDWWLYLWj*UD]LHDO)LRUH8(GL
FRQVHJXHQ]DXQKRWHOWUDVPHWWHDOPHUFDWRXQPHVVDJJLRVXO
SURSULRLPSHJQRLQFDPSRDPELHQWDOHHVXOODVRVWHQLELOLWj
GHOOHVXHVWUXWWXUHSHUXQDYDFDQ]DULODVVDQWHHVLFXUD
,RQ*RQRVGLUHWWRUHGHO6XQZLQJ5HVRUW.DOOLWKHDGL5RGLSULPR
KRWHODIUHJLDUVLGHOPDUFKLR8(GLTXDOLWjHFRORJLFD
8QDVWUXWWXUDGLULFH]LRQHWXULVWLFD
FKHVLIUHJLDGHOPDUFKLRHXURSHR
GLTXDOLWjHFRORJLFDq
RUJDQL]]DWDLQPRGRGD
OLPLWDUHLOFRQVXPRGLHQHUJLD
OLPLWDUHFRQVXPRG
DFTXD
ULGXUUHODSURGX]LRQHGLULILXWL
IDYRULUHO
XWLOL]]RGLIRQWLULQQRYDELOLHGL
VRVWDQ]HFKHULVXOWDQRPHQRSHULFRORVHSHU
O
DPELHQWH
SURPXRYHUHODFRPXQLFD]LRQHHO
HGXFD]LRQH
DPELHQWDOL
,OPDUFKLR8(GLTXDOLWjHFRORJLFDVLDSSOLFDDLVHUYL]LGLSHUQRWWDPHQWRLQVWUXWWXUHULFHWWLYHGRWDWHGLVWDQ]HDGHJXDWDPHQWH
DWWUH]]DWHFRQDOPHQRXQOHWWRRIIHUWLFRPHDWWLYLWjSULQFLSDOHDWXULVWLYLDJJLDWRULHRVSLWL
&KHFNOLVWSHUXQDSULPDYDOXWD]LRQH
&LFOR
GLYLWD &ULWHULR
$VSHWWDWLYH
&RPPLVVLRQHHXURSHD
&5,7(5,(&2/2*,&,2%%/,*$725,
)DVHSUHFHGHQWH 5LVSDUPLR
O
HURJD]LRQHGHO HQHUJHWLFR
VHUYL]LR
z$OPHQRLOGHOO
HQHUJLDHOHWWULFDGHYHSURYHQLUHGDIRQWLGLHQHUJLDULQQRYDELOLODGGRYH
DSSOLFDELOH
z$OPHQRLOGHOO
HQHUJLDHOHWWULFDXWLOL]]DWDSHULOULVFDOGDPHQWRGHOOHVWDQ]HHGHOO
DFTXD
FDOGDSHUXVRVDQLWDULRGHYHSURYHQLUHGDIRQWLGLHQHUJLDULQQRYDELOLODGGRYHDSSOLFDELOH
z1RQGHYRQRHVVHUHXWLOL]]DWLFRPHIRQWHGLHQHUJLDJOLROLFRQWHQRUHGL6!HLO
FDUERQH
z,OUHQGLPHQWRGHOOHFDOGDLHGHYHHVVHUH!LQFRQIRUPLWjGHOODGLUHWWLYD&(
z/
LPSLDQWRGLFRQGL]LRQDPHQWRGHYHSUHVHQWDUHXQ
HIILFLHQ]DHQHUJHWLFDGLFODVVH%
FRQIRUPHPHQWHDOODGLUHWWLYD&(
z/
LVRODPHQWRGHOOHILQHVWUHGHYHHVVHUHDGHJXDWR
z/HVDXQHGHYRQRHVVHUHPXQLWHGLGLVSRVLWLYRGLFRQWUROORDWHPSR
z(QWURXQDQQRGDOODGDWDGHOODULFKLHVWDGHOPDUFKLR8(!GHOOHODPSDGLQHLQVWDOODWH
GHYHHVVHUHDDOWDHIILFLHQ]DHQHUJHWLFDVHDSSOLFDELOH
)DVHSUHFHGHQWH 5LVSDUPLRGL
O
HURJD]LRQHGHO DFTXD
VHUYL]LR
z,OIOXVVRGLDFTXDGDUXELQHWWLHGRFFHGHYHHVVHUH/PLQXWR
z,OULVFLDFTXRGHJOLRULQDWRLQRQGHYHDYYHQLUHLQSLGLGLHVVLFRQWHPSRUDQHDPHQWH
z$VFLXJDPDQLHOHQ]XRODGHYRQRHVVHUHFDPELDWLXQDRGXHYROWHDOODVHWWLPDQDRDULFKLHVWD
z3LDQWHHJLDUGLQLGHYRQRHVVHUHDQQDIILDWLSULPDGHOOHRUHSLFDOGHRGRSRLOWUDPRQWR
z/HDFTXHUHIOXHGHYRQRHVVHUHWUDWWDWH
zÊQHFHVVDULRDWWHQHUVLDLSLDQLORFDOLVXOOHDFTXHUHIOXHHGLWXWHODGHOOHULVRUVHLGULFKH
zÊQHFHVVDULROLPLWDUHLTXDQWLWDWLYLGHLGLVLQIHWWDQWLXVDWL
z/DVFHOWDGHOOHIRQWLGLDSSURYYLJLRQDPHQWRLGULFRGHYHDYHUHXQULGRWWRLPSDWWRDPELHQWDOH
VHDSSOLFDELOH
z,OSHUVRQDOHGHYHHVVHUHIRUPDWRDOO
XVRGLGHWHUVLYLHGLVLQIHWWDQWL
)DVHRSHUDWLYD
*HVWLRQHJHQHUDOH
z1RQGHYHHVVHUHFRQVHQWLWRGLIXPDUHQHOOHDUHHFRPXQL
zÊQHFHVVDULRHIIHWWXDUHXQDEXRQDPDQXWHQ]LRQHHULSDUD]LRQHGHOOHDWWUH]]DWXUH
z'HYHHVVHUHUHGDWWDXQDGLFKLDUD]LRQHGLSROLWLFDDPELHQWDOHHXQSUHFLVRSURJUDPPD
G
D]LRQH
z,OSHUVRQDOHGHYHHVVHUHIRUPDWRSHUO
DSSOLFD]LRQHGHOOHPLVXUHDPELHQWDOLHOD
VHQVLELOL]]D]LRQHVXOOHVWHVVH
zÊQHFHVVDULRLQIRUPDUHDWWLYDPHQWHJOLRVSLWLVXOOHSROLWLFKHJOLRELHWWLYLHOHD]LRQLLQFDPSR
DPELHQWDOH
)DVHRSHUDWLYD
5LGX]LRQHGHL
ULILXWL
zÊQHFHVVDULRIDFLOLWDUHODUDFFROWDGLIIHUHQ]LDWDGHLULILXWLGDSDUWHGHJOLRVSLWL
z,OSHUVRQDOHGHYHVHSDUDUHLULILXWLSHULFRORVLGLFXLDOODGHFLVLRQH&(
z,ULILXWLGHYRQRHVVHUHVHSDUDWLHWUDVSRUWDWLLQVLWLDGHJXDWLVHDSSOLFDELOH
z9DHYLWDWRO
XVRGLSURGRWWLPRQRGRVHVKDPSRRVDSRQLFXIILHSHUODGRFFLDHFF
z9DHIIHWWXDWDXQDUDFFROWDGLGDWLFRQVXPRGLDFTXDHGLHQHUJLDXVRGLVRVWDQ]HFKLPLFKHH
SURGX]LRQHGLULILXWL
z9DHIIHWWXDWDXQDEXRQDPDQXWHQ]LRQHHULSDUD]LRQHGHOOHFDOGDLH
)DVHRSHUDWLYD
,QIRUPD]LRQLDJOL
RVSLWL
z,QYLWDUHJOLRVSLWLDVSHJQHUHO
DULDFRQGL]LRQDWDLOULVFDOGDPHQWRTXDQGROHILQHVWUHVRQR
DSHUWHLQDVVHQ]DGLXQVLVWHPDDXWRPDWLFR
z,QYLWDUHJOLRVSLWLDVSHJQHUHOHOXFLXVFHQGRGDOODFDPHUDLQDVVHQ]DGLXQVLVWHPD
DXWRPDWLFR
z,QEDJQLHWRLOHWWHGHYRQRHVVHUHHVSRVWHLQIRUPD]LRQLVXOULVSDUPLRLGULFR
z1HOOHWRLOHWWHGHYRQRHVVHUHFROORFDWLDGHJXDWLFHVWLQLSHUULILXWL
z,QYLWDUHJOLRVSLWLDLQIRUPDUHLOSHUVRQDOHGHOO
HYHQWXDOHSUHVHQ]DGLSHUGLWH
z)RUQLUHLQIRUPD]LRQLVXLWUDVSRUWLSXEEOLFLORFDOL
)DVHRSHUDWLYD
,QIRUPD]LRQLVXO
PDUFKLRGLTXDOLWj
z$GRWWDUHPLVXUHGLULVSDUPLRHQHUJHWLFRHLGULFRHSHUULGXUUHLULILXWL
z0LJOLRUDPHQWRJHQHUDOHGHOO
DPELHQWH
&5,7(5,(&2/2*,&,)$&2/7$7,9,6LVWHPDDSXQWL
6HGDXQODWRLFULWHULREEOLJDWRULVRSUDHOHQFDWLGHYRQRHVVHUHULVSHWWDWLTXDORUDDSSOLFDELOLGDOO
DOWURqVWDWDPHVVDDSXQWRXQDVHULHGL
FULWHULIDFROWDWLYLEDVDWDVXXQVLVWHPDDSXQWL,FULWHULIDFROWDWLYLGDULVSHWWDUHGHYRQRFRUULVSRQGHUHLQWRWDOHDGDOPHQRVXXQ
WRWDOHSRVVLELOHGL'HYHHVVHUHRWWHQXWRXQSXQWRLQSLSHUFLDVFXQVHUYL]LRDJJLXQWLYRRIIHUWRDGHVHPSLRVHUYL]LGLULVWRUD]LRQH
DWWLYLWjGLILWQHVVHVSD]LYHUGL
,OSUHVHQWHRSXVFRORqILQDOL]]DWRDIRUQLUHVROWDQWRLQIRUPD]LRQLJHQHUDOL3HULQIRUPD]LRQLSLGHWWDJOLDWHVXLFULWHULHVXJOLHQWLGDFRQWDWWDUH
QHLVLQJROLSDHVLSHUULFKLHGHUHLOPDUFKLRFRPXQLWDULRGLTXDOLWjHFRORJLFDVLULPDQGDDOVHJXHQWHLQGLUL]]RZHE
KWWSHXURSDHXLQWHFRODEHOHZZZHFRODEHOWRXULVPFRP
3HUFRPPHUFLDOL]]DUHLYRVWULSURGRWWLFRQLOPDUFKLRGLTXDOLWj
HFRORJLFDXWLOL]]DWHLOQRVWUR*UHHQ6WRUHÊJUDWXLWR
KWWSZZZHFRODEHOFRPRZZZHFRODEHOWRXULVPFRP