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2000c r**k investment dec**ion analys**venture investment dec**ion analys** method1, the traditional methods. the traditional project evaluation standard in the corresponding optimization under the corresponding to a series of static and dynamic evaluation method. static evaluation method without considering the time value of money at r**k for the project, including the use of evaluation, the dynamic evaluation method ** briefly introduced in the two main dynamic evaluation method. (1) npv method (npv) net present value calculation method ** to project the life with inflow minus the outflow cash flow ** obtained from the net, and then press, using a d**count rate of compound formula calculating the present one, add value and its value. a single project evaluation, npv greater than zero, scheme, when compared to more scheme, the optimal scheme npv. (2) internal rate of return (irr). ** that a plan to study period, the revenue and expenditure of cash flow when npv ** zero d**count rate. scheme selection, irr than benchmark returns, scheme ** feasible, and the bigger the better. irr and not feasible.using traditional methods of r**k investment dec**ions in a defect analys**. first, the d**count rate and yield of subjectivity has benchmark, r**k investment return than traditional project, with an **erage yields to determine the r**k investment yields are inappropriate. secondly, r**k investment has high uncertainty, using traditional evaluation method of uncertainty, the higher the d**count rate, the value of investment projects, denied the character**tics of venture capital investment. venture investment ** a high-r**k investment with high yields, it brings the expected future cash flow, the uncertainty ** ten times, the return on investment ** often more difficult to obtain accurate, the profit, so in the r**k evaluation dec**ion when still can use the following methods.2, the real option method (on practical). the value of investment projects that are not only from a single investment project cash flow, directly from the growth opportunities. still practical option method in foreign gradually become the important bas** of r**k investment, h**e relatively successful cases. investors in venture capital investment, due to the investment projects in general ** not mature industry, the uncertainty of the project, with high r**k investor at what stage investment, whether for the next round of investment and whether more or less investment, and in what way investment options. also, the r**k ** that investors, they are usually in the camera options after the end of each stage of investment project evaluation, in order to decide whether the next round of investment or termination of investment. whether the r**k of investment r**k ** only an option, investors ** an investment projects in different stages of several options, investment ** transformed into the problem of real option pricing. the value of r**k investment projects by the project should value net present value and flexibility. namely: options adjustment (npv) npv = traditional values (vo + option).one option "value" factor can use options premia (i.e., the option premium value and the poor) said.in practice, the r**k of real options method of investors h**e a form. a: the investment period of delay. in the investment environment and condition of the project can be postponed, investing time, wait. 2: investment reduced options. in the project operation condition, can reduce investment. three: investment revoked options. in the project operation state, from poor investment. four: investment conversion option. when the new situation, the investment can be converted to fit the new state. five: to expand investment options. when a project ** good condition and market expectations appeared more optim**tic, can expand investment.3, the analytic hierarchy process (ahp). the former two evaluation methods are the profits from the project, however, if the respects from profits, r**k investment project ** successful. analytical hierarchy process (ahp) ** a kind of multi-objective evaluation dec**ion method. the basic principle **: the complex problem into several elements, according to their mutual correlation and affiliate relationships a multi-level structure model, and analyses the factors of compar**on, judgment, the calculation for different elements, weight, and provide bas** for dec**ion making. venture investment project factors include: product idea, market prospect, management ability, environmental factors as adaptability. analytic hierarchy process based on four kinds of factors, and then build hierarchical analys** model of the weight of each factor, the sequence, thus obtains the hierarchy.-------------------------------------------------the essence of the project evaluation of the project can get even the r**k faced by income and two board to decide whether investment. in the venture investment project evaluation, and several common wind ** cast dec**ion analys** method.example: the american investors first consider the project r**k management ability, will also consider the uniqueness of product technology and market potential factors such as the size, return.long-term since, our country investment always reflect the ** beh**ior, and makes the investment r**k investment by the ** beh**ior into market beh**ior, r**k investment company must be independent r**k, investment dec**ion-making must adhere to the market orientation, and be good at r**k and return to choose between optimization. the screening of the invested enterpr**e competition and reflects the advanced standard, but also helps to improve the investment r**k of social resources use efficiency. venture capital**ts through the comprehensive assessment, reduce the r**ks and benefits, promote the resources advantage, industrial flow to the adjustment of economic structure. 20210311