Istruzioni dettagliate per l'uso sono nel manuale
[. . . ] R FRQ WHFQRORJLH VLPLOL 3HU XOWHULRUL GHWWDJOL FRQWDWWDUH LO SURSULR ULYHQGLWRUH - 3HU XOWHULRUL LQIRUPD]LRQL VX 4/LQN H VXL FROOHJDPHQWL GHJOL DSSDUHFFKL DQGDUH DOOH SDJLQH H 7DOYROWD SXÌ YHULILFDUVL XQD OHJJHUD LQFOLQD]LRQH GHOO
LPPDJLQH R GHOOH DUHH FRORUDWH SRVVRQR DSSDULUH DJOL DQJROL GHOOR VFKHUPR SXUH]]D GHO FRORUH 4XHVWL IHQRPHQL SRVVRQR HVVHUH HOLPLQDWL XWLOL]]DQGR OD IXQ]LRQH Shvr qvhtvr , QQDQ]LWXWWR DVVLFXUDUVL FKH OH SURFHGXUH GL VFDULFDPHQWR GL $73 H 4/LQN VLDQR FRPSOHWH 6XOOR VFKHUPR QRQ GRYUHEEH DSSDULUH DOFXQ PHQX GL YLVXDOL]]D]LRQH D VFKHUPR 8WLOL]]DUH L WDVWL GHO WHOHFRPDQGR SHU FROOHJDUVL DOO
RS]LRQH GL PHQX Shvr qvhtvr G
LPPDJLQH H VHJXLUH LO SURFHGLPHQWR LQGLFDWR GL VHJXLWR SHU XQD VSLHJD]LRQH FRPSOHWD GHO VLVWHPD PHQX 'LVSOD\ D VFKHUPR FRQVXOWDUH SDJLQD
*8, '$ 5$3, '$
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX )XQ]LRQL $FFHGHUH DO PHQX )XQ]LRQL 6SRVWDUVL VXOO
RS]LRQH GL PHQX 5RWD]LRQH G
LPPDJLQH $FFHVVR DO PHQX 5RWD]LRQH G
LPPDJLQH 5HJRODUH O
LPPDJLQH VHFRQGR QHFHVVLW 3UHPHUH LO WDVWR 79$9 SHU XVFLUH GDO PHQX 5RWD]LRQH G
LPPDJLQH 79$9 0(18
/D IXQ]LRQH 5RWD]LRQH G
LPPDJLQH H DFFHVVLELOH DQFKH GDO SDQHOOR DQWHULRUH GHO WHOHYLVRUH
3UHPHUH TXL H ULODVFLDUH SHU DSULUH OR VSRUWHOOR
3UHPHUH ULSHWXWDPHQWH LO SXOVDQWH A ILQFK OD IXQ]LRQH &RUUH]LRQH JHRPDJQHWLFD QRQ YLHQH YLVXDOL]]DWD 3UHPHUH ULSHWXWDPHQWH LO SXOVDQWH R ILQFK O
LPPDJLQH QRQ DSSDUH SHUIHWWDPHQWH GULWWD 3UHPHUH QXRYDPHQWH LO SXOVDQWH A SHU ULWRUQDUH DOOD YLVXDOL]]D]LRQH QRUPDOH 4XLQGL FKLXGHUH OR VSRUWHOOR SHU SUHYHQLUH HYHQWXDOL GDQQL
)
)
$ TXHVWR SXQWR ý SRVVLELOH JXDUGDUH L SURJUDPPL
, FRPDQGL GHO FXUVRUH FRQWUROODQR GXH IXQ]LRQL EDVH 5HJROD YROXPH &DPELD SURJUDPPD
&20$1', )21'$0(17$/,
, QWHUUXWWRU H 2Q2II FRUUHQWH GL UHWH /D OXFH URVVD LQGLFD LO PRGR 6WDQGE\ 8VDUH O
LQWHUUXWWRUH 6WDQGE\ R L WDVWL R SHU DFFHQGHUH LO WHOHYLVRUH 675 7DVWR GL QRUPDOL]]D]LRQH 8WLOL]]DWR SHU PHPRUL]]DUH OH VLQWRQL]]D]LRQL H DOWUH LPSRVWD]LRQL GL IXQ]LRQL ) 6HOH]LRQH GHOOD IXQ]LRQH 9LVXDOL]]D OH IXQ]LRQL GHL PHQX D VFKHUPR 3UHPHUH ULSHWXWDPHQWH SHU SDVVDUH GD XQD IXQ]LRQH DOO
DOWUD 9ROXPH &RQWUDVWR /XPLQRVLW &RORUH 1LWLGH]]D 7LQWD LQ PRGDOLW 176& %DVVL $FXWL %LODQFLDPHQWR 6LQWRQLD H &RUUH]LRQH *HRPDJQHWLFD , QWHUUXWWRUH 6WDQGE\ 2Q2II $WWLYD R GLVDWWLYD OD SRVL]LRQH 6WDQGE\ GHO WHOHYLVRUH 7DVWR GL 6WDWR 3UHPHUH SHU YLVXDOL]]DUH OD SRVL]LRQH GHO SURJUDPPD LO QRPH GHO SURJUDPPD LO QXPHUR GL FDQDOH LO VLVWHPD WHOHYLVLYR OD PRGDOLW RUDVWHUHR H OD WDEHOOD GHL SURJUDPPL SDJLQD 7DVWL GL FRPDQGR $VSHFW SDJLQD 7DVWR 2. +
£
6HOH]LRQDUH &DPELR 3HU XVFLUH 'LQDPLFR
0HQX SULQFLSDOH
79$9
0RGR 0HQX 0HQX 0HQX
LPPDJLQH LPPDJLQH DXGLR IXQ]LRQL
0RGR LPPDJLQH , O 0RGR LPPDJLQH 9L SHUPHWWH GL VFHJOLHUH WUD WUH GLIIHUHQWL LPSRVWD]LRQL GHOOR
VFKHUPR r GLQDPLFR QRUPDOH H FLQHPD
0HQX LPPDJLQH , O PHQX , PPDJLQH SHUPHWWH GL LPSRVWDUH OH SUHIHUHQ]H SHUVRQDOL SHU WXWWL JOL
DVSHWWL UHODWLYL DOOD TXDOLW GHOO
LPPDJLQH
0HQX DXGLR
, O PHQX $XGLR SHUPHWWH GL LPSRVWDUH OH SUHIHUHQ]H SHUVRQDOL SHU WXWWL JOL DVSHWWL UHODWLYL DOOD TXDOLW GHOO
DXGLR
0HQX IXQ]LRQL
, O PHQX )XQ]LRQL SHUPHWWH GL DFFHGHUH D GLYHUVH IXQ]LRQL DYDQ]DWH H DO PHQX 6LQWRQLD
0(18 , 00$*, 1(
, O PHQX , PPDJLQH SHUPHWWH GL LPSRVWDUH OH SUHIHUHQ]H SHUVRQDOL SHU WXWWL JOL DVSHWWL UHODWLYL DOOD TXDOLW GHOO
LPPDJLQH
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX , PPDJLQH
0(18
5LWRUQR
à - 2. + £
6HOH]LRQDUH &DPELR 3HU XVFLUH 'LQDPLFR
$FFHGHUH DO PHQX , PPDJLQH 3RVL]LRQDUVL VXOOD VHOH]LRQH GHVLGHUDWD $XPHQWDUH R GLPLQXLUH L OLYHOOL R VHOH]LRQDUH OH RS]LRQL 3UHPHUH LO WDVWR 79$9 SHU XVFLUH GDO PHQX , PDJLQH 3UHPHUH LO WDVWR 1 SHU LO ULWRUQR DOO
LPSRVWD]LRQH SUHVWDELOLWD LQ IDEEULFD
0RGR LPPDJLQH
0HQX LPPDJLQH
79$9 1
0RGR LPPDJLQH &RQWUDVWR /XPLQRVLWj &RORUH 1LWLGH]]D 7HPS FRORUH 315 0RGR LPPDJLQH &RQWUDVWR /XPLQRVLWj &RORUH 1LWLGH]]D 7HPS FRORUH 315
1RUPDOH $XWR 1RUPDOH
0HQX LPPDJLQH
&RQWUDVWR /XPLQRVLW &RORUH 7LQW VROR 176& 1LWLGH]]D 7HPS FRORUH 3 15
, O PRGR LPPDJLQH QHO PHQX LPPDJLQH 9L SHUPHWWH GL 1RUPDOH VFHJOLHUH UHJRODUH H $XWR PHPRUL]]DUH WUH GLIIHUHQWL LPSRVWD]LRQL GHOO
LPPDJLQH 0HQX LPPDJLQH GHOOR VFKHUPR r GLQDPLFR QRUPDOH H FLQHPD 0RGR LPPDJLQH &LQHPD , Q RJQL LPSRVWD]LRQH GHO PRGR &RQWUDVWR , PPDJLQH SRVVRQR HVVHUH /XPLQRVLWj LPSRVWDWL H PHPRUL]]DWL &RORUH FRQWUDVWR OLPLQRVLW FRORUH 1LWLGH]]D 1RUPDOH QLWLGH]]D H WLQWD VROR 176& LQ 7HPS FRORUH $XWR EDVH DOOH 9RVWUH ULFKLHVWH 315 SHUVRQDOL]]DWHULJXDUGDQWH O
LPPDJLQHOR VFKHUPR SHV SRWHWH ULFKLHGHUH GLYHUVH LPSRVWD]LRQL SHU JXDUGDUH OH WUDVPLVVLRQL VSRUWLYH ILOP WHOHJLRQDOH HFF , O PRGR , PPDJLQH 9L RIIUH DO PDVVLPR WUH LPSRVWDWXUH VHSDUDWH SHU RJQL IRQWH GHO VHJQDOH 5) $9 $9 $9 LQFOXVR 5*% $QDOL]]DQGR H WUDWWDQGR O
LPPDJLQHOR VFKHUPR LQ DUULYR WXWL L WUH PRGL GLVSRQJRQR GHOO
DFFUHVFLPHQWR DXWRPDWLFR GHOO
LPPDJLQH 3UHPHQGR LO WDVWR 1 VXO WHOHFRPDQGR SRWHWH WRUQDUH DOO
LPSRVWD]LRQH RULJLQDOH GHOOD IDEEULFD GHO SURILOR SUHVFHOWR , OLYHOOL GL &RQWUDVWR /XPLQRVLW &RORUH H 1LWLGH]]D SRVVRQR HVVHUH UHJRODWL VHFRQGR LO JXVWR SHUVRQDOH H OH FRQGL]LRQL GL YLVLRQH /
LPSRVWD]LRQH GHO ELODQFLDPHQWR GHO FRORUH SHUPHWWH GL VWDELOLUH OD WRQDOLW FRPSOHVVLYD GHOO
LPPDJLQH 315 ULGXFH DXWRPDWLFDPHQWH OH LQWHUIHUHQ]H LQGHVLGHUDWH GHOO
LPPDJLQH
0(18 $8', 2
, O PHQX $XGLR SHUPHWWH GL LPSRVWDUH OH SUHIHUHQ]H SHUVRQDOL SHU WXWWL JOL DVSHWWL UHODWLYL DOOD TXDOLW GHOO
DXGLR
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX $XGLR $FFHGHUH DO PHQX $XGLR 3RVL]LRQDUVL VXOOD VHOH]LRQH GHVLGHUDWD $XPHQWDUH R GLPLQXLUH L OLYHOOL R VHOH]LRQDUH OH RS]LRQL 3UHPHUH LO WDVWR 79$9 SHU XVFLUH GDO PHQX $XGLR
9ROXPH %DVVL
0(18
5LWRUQR
à - 2. [. . . ] + £
6HOH]LRQDUH 5HJROD]LRQH 3HU XVFLUH
+
0HQX DXGLR
79$9
9ROXPH %DVVL $FXWL %LODQFLDPHQWR 03; 0RGR DXGLR 3UHVHQ]D
-
0RQR 0XVLFD 2II
4XHVWD UHJROD]LRQH LPSRVWD O
XVFLWD FRPSOHVVLYD GHO YROXPH /D UHJROD]LRQH GHL EDVVL SRWHQ]LD OH IUHTXHQ]H SLÖ EDVVH H SURIRQGH HG LO ORUR OLYHOOR SXÌ HVVHUH DXPHQWDWR R GLPLQXLWR /D UHJROD]LRQH GHJOL DFXWL DFFHQWXD OH IUHTXHQ]H SLÖ DOWH H DFXWH HG LO ORUR OLYHOOR SXÌ HVVHUH DXPHQWDWR R GLPLQXLWR 4XHVWD UHJROD]LRQH DJLVFH VXO OLYHOOR GHO VXRQR IUD O
DOWRSDUODQWH GL GHVWUD H TXHOOR GL VLQLVWUD ü SRVVLELOH HIIHWWXDUH XQD UHJROD]LRQH LQ PRGR FKH LO OLYHOOR VRQRUR GDJOL DOWRSDUODQWL VLD DGDWWR DOOD SRVL]LRQH GL DVFROWR 03; YLHQH JHQHUDOPHQWH LPSRVWDWR VX 6WHUHR SHU RWWHQHUH OD ULSURGX]LRQH RWWLPDOH WXWWDYLD VH OD ULFH]LRQH VL GHWHULRUD R VH LO VHUYL]LR QRQ ý GLVSRQLELOH VL FRQVLJOLD GL LPSRVWDUH TXHVWR YDORUH VX 0RQR ü SRVVLELOH LQROWUH VHOH]LRQDUH 0RQR 0 H 0 VH YHQJRQR WUDVPHVVL L UHODWLYL VHJQDOL /
DXGLR SXÌ HVVHUH PLJOLRUDWR PHGLDQWH OH RS]LRQL 0XVLFD R 3DUODWR VHOH]LRQDQGR OD IXQ]LRQH DSSURSULDWD /
RS]LRQH 3UHVHQ]D PLJOLRUD GLQDPLFDPHQWH LO VXRQR PHGLDQWH OD VLPXOD]LRQH GL GLYHUVL HIIHWWL GL VSD]LR
$FXWL
%LODQFLDPHQWR
03;
0RGR DXGLR
3UHVHQ]D
0(18 )81=, 21,
, O PHQX )XQ]LRQL SHUPHWWH GL DFFHGHUH D GLYHUVH IXQ]LRQL DYDQ]DWH H DO PHQX 6LQWRQLD
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX )XQ]LRQL $SULUH LO PHQX )XQ]LRQL 3RVL]LRQDUVL VXOOD VHOH]LRQH GHVLGHUDWD $XPHQWDUH R GLPLQXLUH L OLYHOOL LPSRVWDUH RS]LRQL R DFFHGHUH DG DOWUL PHQX 3UHPHUH LO WDVWR 79$9 SHU XVFLUH GDO PHQX )XQ]LRQL
$9 RXW
0(18
5LWRUQR
à - 2. + £
6HOH]LRQDUH &DPELR 3HU XVFLUH
0HQX IXQ]LRQL
79$9
$9 RXW 0RQLWRU $9 RXW 79 7HOHYLGHR )/2) 7LPHU 2II )OLFNHU5 2Q 4/LQN $9 /LQJXD WHOHYLGHR 2YHVW 0HQX VLQWRQLD /LQJXD 26' 5RWD]LRQH G¶LPPDJLQH
2IIUH XQD VHOH]LRQH GL VHJQDOL GD LQYLDUH DOOD SUHVD 6FDUW $9 ü SRVVLELOH VHOH]LRQDUH IUD OD SRVL]LRQH RFFXSDWD DWWXDOPHQWH GDO SURJUDPPD 79 LO VHJQDOH LQ LQJUHVVR LQ $9 $9 R 0RQLWRU FLRý O
LPPDJLQH YLVXDOL]]DWD D VFKHUPR 2IIUH XQD VHOH]LRQH GL VHJQDOL GD LQYLDUH DOOD SUHVD 6FDUW $9 ü SRVVLELOH VHOH]LRQDUH IUD OD SRVL]LRQH RFFXSDWD DWWXDOPHQWH GDO SURJUDPPD 79 LO VHJQDOH LQ LQJUHVVR LQ $9 $9 R 0RQLWRU FLRý O
LPPDJLQH YLVXDOL]]DWD D VFKHUPR /
RS]LRQH 7HOHYLGHR SHUPHWWH GL VHOH]LRQDUH IUD OH PRGDOLW 723 )/2) H /, 67 9HGHUH SDJLQD /
RS]LRQH 7LPHU SHUPHWWH GL VSHJQHUH O
DSSDUHFFKLR 79 DG LQWHUYDOOL GL PLQXWL LQ XQ DUFR GL WHPSR FRPSUHVR IUD H PLQXWL 1RUPDOPHQWH ý SUHIHULELOH LPSRVWDUH OD IXQ]LRQH )OLFNHU5 VX 2Q DWWLYR SHU ULGXUUH L SLÖ LPSHUFHWWLELOL PRYLPHQWL GHOO
LPPDJLQH 7XWWDYLD ý SRVVLELOH FKH FHUWH UDUH WUDVPLVVLRQL SRVVRQR EHQHILFLDUH PDJJLRUPHQWH GDOOD SRVL]LRQH 2II GLVDWWLYR 4/LQN SHUPHWWH GL DWWLYDUH $9 R $9 R GLVDWWLYDUH OD FRPXQLFD]LRQH GL GDWL FRQ XQ YLGHRUHJLVWUDWRUH '9'5 FRPSDWLELOH 9HGHUH SDJLQD
$9 RXW
7HOHYLGHR
7LPHU
)OLFNHU5
4/LQN
0(18 )81=, 21,
/LQJXD WHOHYLGHR
6HOH]LRQD O
LPSRVWD]LRQH GHO FDUDWWHUH DIILQFK WXWWL L FDUDWWHUL QHFHVVDUL VLDQR GLVSRQLELOL SHU OH SDJLQH GHO WHOHYLGHR DG HVHPSLR L FDUDWWHUL FLULOOLFL HFF Hq Gvtr 2YHVW , QJOHVH IUDQFHVH WHGHVFR JUHFR LWDOLDQR VSDJQROR VYHGHVH WXUFR (VW , QJOHVH HVWRQH OHWWRQH UXPHQR UXVVR XFUDLQR (VW &HFR WHGHVFR XQJKHUHVH OHWWRQH SRODFFR UXPHQR , O PHQX 6LQWRQLD SHUPHWWH GL DFFHGHUH D PROWH IXQ]LRQL IUD FXL 6HOH]LRQH FDQDOL $73 6LQWRQLD ILQH 6LQWRQLD PDQXDOH 6WDQGDUG FRORUH H &RUUH]LRQH YROXPH 9HGHUH SDJLQD /
RS]LRQH /LQJXD 26' SHUPHWWH GL VHOH]LRQDUH OD OLQJXD XWLOL]]DWD QHL PHQX D VFKHUPR 9HGHUH SDJLQD 6H VL QRWD XQD OHJJHUD SHQGHQ]D GHOO
LPPDJLQH R VH FL VRQR GHOOH PDFFKLH FRORUDWH DJOL DQJROL GHOOR VFKHUPR XWLOL]]DUH TXHVWD IXQ]LRQH SHU HOLPLQDUOL /HJJHUH LO SXQWR D SDJLQD GHOOD *XLGD GL DYYLR UDSLGR
0HQX VLQWRQLD
/LQJXD 26'
5RWD]LRQH G
LPPDJLQH
0(18 6, 1721, $
, O PHQX 6LQWRQLD SHUPHWWH GL DFFHGHUH DL PHQX GL VLQWRQLD PDQXDOH DXWRPDWLFD H ILQH
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX )XQ]LRQL $FFHGHUH DO PHQX )XQ]LRQL
0(18
0HPRULD 5LWRUQR
à - 2. + £
6HOH]LRQDUH $FFHGHUH 3HU XVFLUH
3RVL]LRQDUVL VXO PHQX 6LQWRQLD $FFHGHUH DO PHQX 6LQWRQLD 3RVL]LRQDUVL VXOOD VHOH]LRQH GHVLGHUDWD $XPHQWDUH R GLPLQXLUH L OLYHOOL LPSRVWDUH OH RS]LRQL R DFFHGHUH DG DOWUL PHQX 3UHPHUH LO WDVWR 79$9 SHU XVFLUH
6HOH]LRQH FDQDOL $73 6LQWRQLD PDQXDOH 6LQWRQLD ILQH 6WDQGDUG FRO &RU 9ROXPH 'HFRGHU $9
0HQX VLQWRQLD
6HOH]LRQH FDQDOL $FFHGHUH $73 6LQWRQLD PDQXDOH 6LWRQLD ILQH 6WDQGDUG FRO $XWR &RU 9ROXPH 'HFRGHU $9 2II
79$9
, O PHQX 6HOH]LRQH FDQDOL SHUPHWWH GL FDPELDUH DJJLXQJHUH FDQFHOODUH GHQRPLQDUH R EORFFDUH VWD]LRQL WHOHYLVLYH H IRUQLVFH DFFHVVR DO VLVWHPD 79 9HGHUH SDJLQD , O PHQX $73 SHUPHWWH GL ULVLQWRQL]]DUH DXWRPDWLFDPHQWH O
DSSDUHFFKLR 79 9HGHUH SDJLQD , O PHQX 6LQWRQLD PDQXDOH SHUPHWWH GL VLQWRQL]]DUH PDQXDOPHQWH OD SRVL]LRQH GL VLQJROL SURJUDPPL 9HGHUH SDJLQD ü SRVVLELOH VLQWRQL]]DUH OH VWD]LRQL FRQ SUHFLVLRQH XWLOL]]DQGR OD UHJROD]LRQH GL 6LQWRQLD ILQH , O PHQX 6WDQGDUG FRORUH SHUPHWWH GL VWDELOLUH LO FRUUHWWR OLYHOOR GL WUDVPLVVLRQH GHO FRORUH , O PHQX &RUUH]LRQH YROXPH SHUPHWWH GL UHJRODUH LO OLYHOOR GHO YROXPH GHOOH VLQJROH VWD]LRQL 4XHVWD RS]LRQH YLHQH XWLOL]]DWD TXDQGR XQ GHFRGHU ý FROOHJDWR DOOD SUHVD $9 , PSRVWDUH VX 2Q VH VL GHVLGHUD FKH LO GHFRGHU HODERUL XQ VHJQDOH LQGHFLIUDELOH 5LSRUWDUH LQ SRVL]LRQH 2II GRSR O
XVR
0(18 6, 1721, $ 6(/(=, 21( &$1$/,
, O PHQX 6HOH]LRQH FDQDOL SHUPHWWH GL VHOH]LRQDUH WXWWH OH LPSRVWD]LRQL UHODWLYH DOOD SRVL]LRQH GHL SURJUDPPL
$SULUH LO PHQX 3ULQFLSDOH 3RVL]LRQDUVL VXO PHQX )XQ]LRQL $FFHGHUH DO PHQX )XQ]LRQL 3RVL]LRQDUVL VXO PHQX 6LQWRQLD $FFHGHUH DO PHQX 6LQWRQLD 3RVL]LRQDUVL VXO PHQX 6HOH]LRQH FDQDOL $FFHGHUH DO PHQX 6HOH]LRQH FDQDOL (IIHWWXDUH OH LPSRVWD]LRQL GHVLGHUDWH YHGHUH OH SRVVLELOLW SLÖ LQ DOWR 3UHPHUH LO WDVWR 2. SHU PHPRUL]]DUH OH PRGLILFKH &RPSOHWDWH OH PRGLILFKH QHO PHQX 6HOH]LRQH FDQDOL SUHPHUH LO WDVWR 79$9 SHU XVFLUH
0(18
0HPRULD 5LWRUQR
à - 2. + £
6HOH]LRQDUH $FFHGHUH 3HU XVFLUH
0HQX VLQWRQLD
6HOH]LRQH FDQDOL $FFHGHUH $73 6LQWRQLD PDQXDOH 6LWRQLD ILQH 6WDQGDUG FRO $XWR &RU YROXPH 'HFRGHU $9 2II
0HPRULD 5LWRUQR
à - 2. + £
&DPELR SURJUDPPD 6FHOWD 3HU XVFLUH
6HOH]LRQH FDQDOL 3URJ &DQ 1RPH 6LFXUD 6LVW
79$9
&+ ;<=
2II 2II 2II 2II 2II
6& 6& 6& 6& 6&
&DQFHOOD , QVHULUH 0XRYL 'RZQORDG
&RPH FDQFHOODUH XQD SRVL]LRQH GL SURJUDPPD LQGHVLGHUDWD
6HOH]LRQDUH OD SRVL]LRQH GHO SURJUDPPD 3UHPHUH LO WDVWR 5RVVR VXO WHOHFRPDQGR 3UHPHUH QXRYDPHQWH LO WDVWR 5RVVR SHU FRQIHUPDUH
6HOH]LRQH FDQDOL 3URJ &DQ 1RPH 6LFXUD 6LVW
&+ ;<=
2II 2II 2II 2II 2II
6& 6& 6& 6& 6& $QQXOOD
&DQFHOOD
0(18 6, 1721, $ 6(/(=, 21( &$1$/,
&RPH DJJLXQJHUH XQD SRVL]LRQH GL SURJUDPPD
6HOH]LRQDUH OD SRVL]LRQH GL SURJUDPPD LQ FXL VL GHVLGHUD LQVHULUH LO QXRYR SURJUDPPD 3UHPHUH LO WDVWR 9HUGH VXO WHOHFRPDQGR 3UHPHUH QXRYDPHQWH LO WDVWR 9HUGH SHU FRQIHUPDUH 4XHVWR SURJUDPPD SXÌ DGHVVR HVVHUH VLQWRQL]]DWR GHQRPLQDWR EORFFDWR H DVVHJQDWR DO VLVWHPD 79 GL SURSULD VFHOWD
&RPH VSRVWDUH OD SRVL]LRQH GL XQ SURJUDPPD
6HOH]LRQH FDQDOL 3URJ &DQ 1RPH 6LFXUD 6LVW &+ ;<= 2II 6& 2II 6& 2II 6& 2II 6& 2II 6&
, QVHULUH
$QQXOOD
6HOH]LRQDUH OD SRVL]LRQH GHO SURJUDPPD GD VSRVWDUH 3UHPHUH LO WDVWR *LDOOR VXO WHOHFRPDQGR 6HOH]LRQDUH OD QXRYD SRVL]LRQH 3UHPHUH QXRYDPHQWH LO WDVWR *LDOOR SHU FRQIHUPDUH
&RPH VLQWRQL]]DUH OD SRVL]LRQH GL XQ SURJUDPPD
6HOH]LRQH FDQDOL 3URJ &DQ 1RPH 6LFXUD 6LVW &+ ;<= 2II 6& 2II 6& 2II 6& 2II 6& 2II 6&
&RQIHUPD $QQXOOD
0HPRULD 5LWRUQR
6HOH]LRQDUH OD SRVL]LRQH GHO SURJUDPPD GHVLGHUDWR 3RVL]LRQDUVL VXOOD FRORQQD GHO FDQDOH $XPHQWDUH R GLPLQXLUH LO QXPHUR GL FDQDOH R XVDUH LO WDVWR l&l SHU OD VHOH]LRQH GLUHWWD GHO FDQDOH HYHQWXDOPHQWH DQFKH LO WDVWR l&l H l l SHU OD VHOH]LRQH GLUHWWD GHO FDQDOH LQ K\SHUEDQG SDJLQD
à - 2. + £
5LFHUFD FDQDOL 6FHOWD 3HU XVFLUH
6HOH]LRQH FDQDOL 3URJ &DQ 1RPH 6LFXUD 6LVW
&+ ;<=
2II 2II 2II 2II 2II
6& 6& 6& 6& 6&
0(18 6, 1721, $ 6(/(=, 21( &$1$/,
&RPH FDPELDUH QRPH DOOD SRVL]LRQH GL XQ SURJUDPPD
6HOH]LRQDUH OD SRVL]LRQH GHO SURJUDPPD GD ULGHQRPLQDUH 3RVL]LRQDUVL VXOOD FRORQQD GHO QRPH 6HOH]LRQDUH OD QXRYD OHWWHUD 3RVL]LRQDUVL VXOOD OHWWHUD GHVLGHUDWD VXFFHVVLYD &RQWLQXDUH ILQR DG DYHU FRPSRVWR LO QXRYR QRPH
&RPH EORFFDUH OD SRVL]LRQH GL XQ SURJUDPPD SHU LPSHGLUQH O
DFFHVVR
0HPRULD 5LWRUQR
à - 2. R WHFQRORJLH DQDORJKH SHUPHWWRQR DOO
DSSDUHFFKLR 79 GL LQYLDUH LVWUX]LRQL D XQ YLGHRUHJLVWUDWRUH '9'5 FRPSDWLELOH DIILQFK UHJLVWUL LO SURJUDPPD DWWXDOPHQWH YLVXDOL]]DWR VXOOR VFKHUPR D SUHVFLQGHUH GDOOD SRVL]LRQH GL SURJUDPPD LPSRVWDWD VXO YLGHRUHJLVWUDWRUH '9'5 VHPSOLILFDQGR LQ WDO PRGR LO SURFHVVR GL UHJLVWUD]LRQH GHL SURJUDPPL ', 5(&7 79 5(& 3UHPHUH LO WDVWR ', 5(&7 79 5(& VXO WHOHFRPDQGR 6H LO YLGHRUHJLVWUDWRUH '9'5 ý VSHQWR SUHPHQGR LO WDVWR ', 5(&7 79 5(& VL DFFHQGHU DXWRPDWLFDPHQWH 6XOOR VFKHUPR YLHQH YLVXDOL]]DWR XQ PHVVDJJLR LQYLDWR GDO YLGHRUHJLVWUDWRUH '9'5 FRQ OH LQIRUPD]LRQL UHODWLYH DO SURJUDPPD FKH YLHQH UHJLVWUDWR R FKH QRQ ý SRVVLELOH UHJLVWUDUH
5HJ LQWHUURWWD IRQWH 79 PRGLILFDWD 5HJLVWUD]LRQH LQ FRUVR 5HJLVWUD]LRQH IRQWH 79
&RPH UHJLVWUDUH LO SURJUDPPD DWWXDOPHQWH LQ YLVLRQH
, O YLGHRUHJLVWUDWRUH '9'5 VWD UHJLVWUDQGR LO VHJQDOH GHO SURJUDPPD WUDPLWH LO VXR VLQWRQL]]DWRUH ü LQROWUH SRVVLELOH VSHJQHUH LO WHOHYLVRUH H ODVFLDUH FKH LO YLGHRUHJLVWUDWRUH '9'5 UHJLVWUL QHOOD PDQLHUD FRQVXHWD 5HJ LPSRVV &RQWURO QDVWUR R GLVFR /D OLQJXHWWD GL SURWH]LRQH VXO UHWUR GHOOD YLGHRFDVVHWWD ý VWDWD ULPRVVD $OFXQL HVHPSL GL DOWUL PHVVDJJL YLVXDOL]]DWL VRQR L VHJXHQWL
'2:1/2$' , 1 &2562 'RZQORDG 'RZQORDG LPSRVV &RQWURO DSSDUHFFKL '2:1/2$' 3URJUDPPD
, O YLGHRUHJLVWUDWRUH '9'5 VWD UHJLVWUDQGR LO VHJQDOH GHO SURJUDPPD WUDPLWH LO WHOHYLVRUH 1RQ VL GHYH FDPELDUH OD SRVL]LRQH GHO SURJUDPPD Q VSHJQHUH LO WHOHYLVRUH 'LYHUVDPHQWH LO YLGHRUHJLVWUDWRUH '9'5 LQWHUURPSH DXWRPDWLFDPHQWH OD UHJLVWUD]LRQH H VL VSHJQH
4/, 1.
6FDPELR GL LQIRUPD]LRQL VXOOD VLQWRQL]]D]LRQH
3HU DVVLFXUDUH GHOOH UHJLVWUD]LRQL SHUIHWWH LO WHOHYLVRUH H LO YLGHRUHJLVWUDWRUH '9'5 GHYRQR SRWHU FRQGLYLGHUH LQIRUPD]LRQL VXOOD VLQWRQL]]D]LRQH 9HGHUH SDJLQD - 2JQL YROWD FKH O
RS]LRQH $73 YLHQH XWLOL]]DWD OH LQIRUPD]LRQL GL VLQWRQL]]D]LRQH YHQJRQR WUDVIHULWH DO YLGHRUHJLVWUDWRUH '9'5
)XQ]LRQL GL DFFHQVLRQH DXWRPDWLFD
/H VHJXHQWL FDUDWWHULVWLFKH VRQR GLVSRQLELOL FRQ L YLGHRUHJLVWUDWRUL 3DQDVRQLF 4/LQN - 4XDQGR VL LQVHULVFH XQD YLGHRFDVVHWWD QHO YLGHRUHJLVWUDWRUH '9'5 H VL SUHPH LO WDVWR 3OD\ LO WHOHYLVRUH VL DFFHQGH DXWRPDWLFDPHQWH H VHOH]LRQD O
LQJUHVVR $9 R $9 FKH SHUPHWWH GL YHGHUH OD YLGHRFDVVHWWD - 6H LO WHOHYLVRUH YLHQH VSHQWR PHQWUH LO YLGHRUHJLVWUDWRUH '9'5 VL WURYD QHOOH PRGDOLW GL DUUHVWR DYDQ]DPHQWR UDSLGR R ULDYYROJLPHQWR LO YLGHRUHJLVWUDWRUH '9'5 VL VSHJQH DXWRPDWLFDPHQWH
&RPH GLVDWWLYDUH OD FRPXQLFD]LRQH 4/LQN
6H QRQ VL GHVLGHUD XWLOL]]DUH OD IXQ]LRQH 4/LQN ý QHFHVVDULR DFFHGHUH DO PHQX )XQ]LRQL H LPSRVWDUH O
RS]LRQH 4/LQN VX k2IIl 9HGHUH SDJLQD Ih vhr) 1RQ WXWWL L YLGHRUHJLVWUDWRUL VXSSRUWDQR TXHVWR VLVWHPD GL FRPXQLFD]LRQH GHL GDWL $OFXQL DSSDUHFFKL SRVVRQR VXSSRUWDUH GHWHUPLQDWH IXQ]LRQL PHQWUH DOWUL QR 3HU XOWHULRUL LQIRUPD]LRQL FRQVXOWDUH LO PDQXDOH LQ GRWD]LRQH FRQ LO YLGHRUHJLVWUDWRUH '9'5 6H 4/LQN QRQ ý RSHUDWLYR DVVLFXUDUVL LQQDQ]LWXWWR FKH LO FDYR 6&$57 VLD GHO WLSR SHU WXWWH OH IXQ]LRQL &RQWDWWDUH LO SURSULR ULYHQGLWRUH SHU PDJJLRUL GHWWDJOL
)81=, 21$0(172 9&5 '9'5
, O WHOHFRPDQGR SXÌ HVVHUH XWLOL]]DWR SHU HVHJXLUH DOFXQH RSHUD]LRQL LQ GHWHUPLQDWL DSSDUHFFKL 9&5 H '9'5 'LJLWDO 9HUVDWLOH 'LVF 3DQDVRQLF 1RQ WXWWL JOL DSSDUHFFKL 9&5 H '9'5 GLVSRQJRQR GHOOH VWHVVH FDUDWWHULVWLFKH SHUWDQWR SHU RWWHQHUH GHWWDJOL H DVVLFXUDUVL GHOOD ORUR FRPSDWLELOLW ý QHFHVVDULR FRQVXOWDUH L ULVSHWWLYL PDQXDOL R ULYROJHUVL DO SURSULR ULYHQGLWRUH
6WDQGE\
3UHPHUH TXHVWR WDVWR SHU DWWLYDUH LO PRGR 6WDQGE\ GHO 9&5 R GHO '9'5 3UHPHUH QXRYDPHQWH SHU ULDFFHQGHUH O
DSSDUHFFKLR 9&5 '9'
, QWHUUXWWRUH 9&5 '9'5
4XHVWR LQWHUUXWWRUH VHUYH SHU DOWHUQDUH IUD LO IXQ]LRQDPHQWR GHO 9&5 H GHO '9'5
3OD\ 5LSURGX]LRQH
3UHPHUH TXHVWR WDVWR SHU ULSURGXUUH OD YLGHRFDVVHWWD R LO '9'
6WRS $UUHVWR
3UHPHUH TXHVWR WDVWR SHU LQWHUURPSHUH OD ULSURGX]LRQH GHOOD YLGHRFDVVHWWD R GHO '9'
6NLS )DVW )RUZDUG &XH $YDQWL YHORFH$FFHOHUDWR
9&5 3UHPHUH SHU IDU DYDQ]DUH UDSLGDPHQWH LO QDVWUR , Q PRGDOLW GL ULSURGX]LRQH SUHPHUH SHU YHGHUH OH LPPDJLQL LQ PRYLPHQWR YHORFH '9'5 3UHPHUH XQD YROWD SHU SDVVDUH DOOD WUDFFLD VXFFHVVLYD , Q PRGDOLW GL ULSURGX]LRQH SUHPHUH H WHQHUH SUHPXWR SHU YHGHUH OH LPPDJLQL LQ PRYLPHQWR YHORFH
6NLS 5HZLQG 5HYLHZ 5LDYYROJLPHQWR, QGLHWUR
9&5 3UHPHUH SHU ULDYYROJHUH LO QDVWUR , Q PRGDOLW GL ULSURGX]LRQH SUHPHUH SHU YHGHUH OH LPPDJLQL DOO
LQGLHWUR LQ PRYLPHQWR YHORFH '9'5 3UHPHUH XQD YROWD SHU WRUQDUH DOOD WUDFFLD SUHFHGHQWH , Q PRGDOLW GL ULSURGX]LRQH SUHPHUH H WHQHUH SUHPXWR SHU YHGHUH OH LPPDJLQL DOO
LQGLHWUR LQ PRYLPHQWR YHORFH
3DXVH 6WLOO 3DXVD)UHPR
3UHPHQGR LQ PRGDOLW GL ULSURGX]LRQH O
LPPDJLQH VL IHUPD 3UHPHUH QXRYDPHQWH SHU ULDYYLDUH OD ULSURGX]LRQH 352*5$00(
3URJUDPPH 8S 'RZQ 3URJUDPPD $XPHQWR'LPLQX]LRQH
3UHPHUH TXHVWR WDVWR SHU DXPHQWDUH R GLPLQXLUH OD SRVL]LRQH GHO SURJUDPPD 9&5 '9'5 GL XQD XQLW
5HFRUG 5HJLVWUD]LRQH
5(&
3UHPHUH TXHVWR WDVWR SHU DYYLDUH OD UHJLVWUD]LRQH
)81=, 21$0(172 ', 7(/(9, '(2
- /H FDUDWWHULVWLFKH GL 7HOHYLGHR YDULDQR LQ IXQ]LRQH GHOOH UHWL WHOHYLVLYH H VRQR GLVSRQLELOL VROR VH LO - 3UHPHQGR GXH YROWH LO WDVWR 0(18 GXUDQWH OD WUDVPLVVLRQH GL 7HOHYLGHR YLHQH YLVXDOL]]DWD OD IXQ ]LRQH &RQWUDVWR VRWWR IRUPD GL EDUUD D]]XUUD 3UHPHUH * SHU PRGLILFDUH OH LPSRVWD]LRQL
FDQDOH VHOH]LRQDWR VWD WUDVPHWWHQGR 7HOHYLGHR
3UHPHQGR XQD YROWD LO WDVWR 0(18 GXUDQWH OD WUDVPLVVLRQH GL 7HOHYLGHR YHQJRQR YLVXDOL]]DWH VSH FLDOL RS]LRQL LQ EDVVR DOOR VFKHUPR - $QFKH LQ PRGDOLW 7HOHYLGHR LO YROXPH SXÌ HVVHUH UHJRODWR VHFRQGR L OLYHOOL GHVLGHUDWL 8ur pý yh qhyv GDTU4 , Q PRGDOLW /, 67 TXDWWUR QXPHUL GL SDJLQD LQ FRORUL GLYHUVL DSSDLRQR LQ EDVVR DOOR VFKHUPR 2JQXQR GL TXHVWL QXPHUL SXÌ HVVHUH PRGLILFDWR H FRQVHUYDWR QHOOD PHPRULD GHO WHOHYLVRUH 8ur pý AGPA A6TU@YU4 , Q PRGDOLW )$67(;7 TXDWWUR DUJRPHQWL LQ FRORUL GLYHUVL DSSDLRQR LQ EDVVR DOOR VFKHUPR 3HU XOWHULRUL LQIRUPD]LRQL VX WDOL DUJRPHQWL SUHPHUH LO WDVWR FRORUDWR GHVLGHUDWR *UD]LH D TXHVWD IXQ]LRQH ý SRVVLELOH DFFHGHUH UDSLGDPHQWH DOOH LQIRUPD]LRQL UHODWLYH DJOL DUJRPHQWL YLVXDOL]]DWL 8ur pý UPQ Uryrvqr4 723 7HOHYLGHR UHQGH IDFLOH H UDSLGD OD VHOH]LRQH GHOOH SDJLQH 7HOHYLGHR GHVLGHUDWH , QIDWWL O
DFFHVVR DOOD SDJLQD ý TXDVL LVWDQWDQHR EDVWD SUHPHUH LO WDVWR H OD SDJLQD DSSDUH 8r svh4 723 XWLOL]]D L TXDWWUR WDVWL FRORUDWL 5RVVR 9HUGH *LDOOR H %OX SHU VHOH]LRQDUH OH VHJXHQWL LQIRUPD]LRQL - 3HU VSRVWDUVL GD XQ EORFFR DOO
DOWUR GL DUJRPHQWL DG HVHPSLR 63257 XVDUH LO WDVWR %OX $OO
LQWHUQR GHOO
DUJRPHQWR 63257 ý SRVVLELOH VHOH]LRQDUH VH]LRQL GLYHUVH DG HVHPSLR 7HQQLV )RRWEDOO %DVHEDOO HFF PHGLDQWH LO WDVWR *LDOOR 4XDQGR VL UDJJLXQJH O
XOWLPD VH]LRQH GHOO
DUJRPHQWR LO WDVWR *LDOOR VL SRVL]LRQD VXOO
DUJRPHQWR VXFFHVVLYR - , O WDVWR 9HUGH ULFKLDPD OD SDJLQD GLVSRQLELOH SUHFHGHQWH - , O WDVWR 5RVVR ULFKLDPD OD SDJLQD GLVSRQLELOH VHJXHQWH Rhyv v hhttv4 - 6HOH]LRQH GHOOD SDJLQD FRQ XQ VHPSOLFH WDVWR - )DFLOH VHOH]LRQH GHOO
DUJRPHQWR GHVLGHUDWR PHGLDQWH XQD SURFHGXUD SDVVR D SDVVR - 5LGX]LRQH GHO WHPSR GL DWWHVD - 6H YLHQH LQVHULWR XQ QXPHUR GL SDJLQD LQHVLVWHQWH DSSDUH XQ SXQWR LQWHUURJDWLYR LQ EDVVR DOOR VFKHUPR - /D EDUUD GL VWDWR GHOOD SDJLQD ý VHPSUH YLVXDOL]]DWD LQ EDVVR DOOR VFKHUPR SHUWDQWR O
XWHQWH VD VHPSUH TXDOH WDVWR XVDUH SHU DFFHGHUH DOOH LQIRUPD]LRQL GHVLGHUDWH 797(;7
0RGR 79 7HOHYLGHR
3UHPHUH LO WDVWR UWU@YU 6XOOR VFKHUPR DSSDUH OD SDJLQD GL 7HOHYLGHR 3UHPHUH QXRYDPHQWH SHU ULWRUQDUH DOOD PRGDOLW 79
6HOH]LRQH GHOOD SDJLQD
ü SRVVLELOH VHOH]LRQDUH OH SDJLQH LQ GXH PRGL D 3UHPHQGR L WDVWL GLUH]LRQDOL à £ SHU DXPHQWDUH R GLPLQXLUH LO QXPHUR GL SDJLQD GL XQD XQLW E , QVHUHQGR LO QXPHUR GL SDJLQD PHGLDQWH L WDVWL QXPHULFL VXO WHOHFRPDQGR
)81=, 21$0(172 ', 7(/(9, '(2
1RQ ý SRVVLELOH FDPELDUH OD SRVL]LRQH GHO SURJUDPPD TXDQGR FL VL WURYD QHOOH PRGDOLW 1RWL]LH IODVK $JJLRUQDPHQWR H $FFHVVR D SDJLQH VRWWRFRGLILFDWH
3DJLQD FRPSOHWDSDUWH VXSHULRUHSDUWH LQIHULRUH
0(18
3UHPHUH LO WDVWR H@IV SHU YLVXDOL]]DUH IXQ]LRQL VSHFLDOL GRSRGLFK SUHPHUH LO WDVWR Wrqr 3UHPHUH QXRYDPHQWH LO WDVWR Wrqr SHU LQJUDQGLUH OD PHW , 1)(5, 25( GHOOD SDJLQD 3UHPHUH QXRYDPHQWH SHU ULWRUQDUH DOOD YLVXDOL]]D]LRQH FRPSOHWD
6ROX]LRQH
0(18
3UHPHUH LO WDVWR H@IV SHU YLVXDOL]]DUH IXQ]LRQL VSHFLDOL GRSRGLFK SUHPHUH LO WDVWR S SHU YLVXDOL]]DUH LO WHVWR QDVFRVWR DG HVHPSLR OH ULVSRVWH DOOH SDJLQH GHL TXL] 3UHPHUH GL QXRYR LO WDVWR SHU QDVFRQGHUH LO WHVWR
7DVWL 5RVVR9HUGH*LDOOR%OX
1HOOH PRGDOLW 723 R )$67(;7 TXHVWL WDVWL FRUULVSRQGRQR DL TXDWWUR DUJRPHQWL GL FRORUL GLYHUVL PHQWUH LQ PRGDOLW /, 67 FRUULVSRQGRQR DL QXPHUL GHOOH SDJLQH GL FRORUL GLYHUVL
0HPRULD GL DUFKLYLR
, Q PRGDOLW /, 67 L TXDWWUR QXPHUL GL SDJLQD SRVVRQR HVVHUH PRGLILFDWL VROR SHU OH SRVL]LRQL GHL FDQDOL FRPSUHVH GD D 3HU IDUH FLÌ SUHPHUH XQR GHL WDVWL FRORUDWL H LQVHULUH LO QXRYR QXPHUR GL SDJLQD 7HQHQGR SUHPXWR PF L QXPHUL GL SDJLQD FDPELDQR FRORUH +2/'
&RQVHUYD
3HU PDQWHQHUH OD SDJLQD GL 7HOHYLGHR PHQWUH VL FRQVXOWDQR OH LQIRUPD]LRQL PXOWLSDJLQD 3UHPHUH QXRYDPHQWH SHU ULWRUQDUH DOO
DJJLRUQDPHQWR DXWRPDWLFR GHOOD SDJLQD
3DJLQD SUHIHULWD )3
)3
*UD]LH D TXHVWD IXQ]LRQH ý SRVVLELOH FXVWRGLUH XQD GHWHUPLQDWD SDJLQD QHOOD PHPRULD GHO WHOHYLVRUH SHU SRWHUOD ULFKLDPDUH LVWDQWDQHDPHQWH 3HU PHPRUL]]DUH WDOH SDJLQD LO WHOHYLVRUH GHYH WURYDUVL LQ PRGDOLW /, 67 H OD SRVL]LRQH GHO SURJUDPPD GHYH HVVHUH FRPSUHVD IUD H 3UHPHUH LO WDVWR 7y VHOH]LRQDUH LO QXPHUR GL SDJLQD TXLQGL SUHPHUH H WHQHUH SUHPXWR LO WDVWR PF , O QXPHUR GL SDJLQD YLHQH LQ TXHVWR PRGR PHPRUL]]DWR 3UHPHUH AQ SHU ULFKLDPDUH WDOH SDJLQD 3UHPHUH DI9@Y SHU ULWRUQDUH DOOD SDJLQD G
LQGLFH SULQFLSDOH $ VHFRQGD GHOOD PRGDOLW LQ FXL VRQR WUDVPHVVH OH LQIRUPD]LRQL TXHVWR WDVWR GRYU HVVHUH SUHPXWR SLÖ GL XQD YROWD SHU ULWRUQDUH DOOD SDJLQD G
LQGLFH SULQFLSDOH
, QGLFH
, 1'(;
)81=, 21$0(172 ', 7(/(9, '(2
$JJLRUQDPHQWR GHO GLVSOD\
0(18
3UHPHUH LO WDVWR H@IV SHU YLVXDOL]]DUH OH RS]LRQL VSHFLDOL H TXLQGL SUHPHUH LO WDVWR Bvhyy SHU YLVXDOL]]DUH O
LPPDJLQH 79 GXUDQWH OD ULFHUFD GL XQD SDJLQD GL 7HOHYLGHR 7URYDWD OD SDJLQD LO VXR QXPHUR YLHQH YLVXDOL]]DWR LQ DOWR DOOR VFKHUPR D VLQLVWUD 3UHPHUH LO WDVWR Bvhyy SHU YLVXDOL]]DUH WDOH SDJLQD 3UHPHUH QXRYDPHQWH UWU@YU SHU ULWRUQDUH DOOD QRUPDOH PRGDOLW 79 Ivvr syhu 4XDQGR VL VHOH]LRQD XQD SDJLQD GL 1RWL]LH IODVK SUHPHUH H@IV Bvhyy SHU YLVXDOL]]DUH O
LPPDJLQH 79 2JQL YROWD FKH YHQJRQR WUDVPHVVL DJJLRUQDPHQWL LO QXPHUR GL SDJLQD YLHQH YLVXDOL]]DWR VXOOR VFKHUPR 3UHPHUH LO WDVWR Bvhyy SHU YLVXDOL]]DUH 1RWL]LH IODVK 3UHPHUH QXRYDPHQWH UWU@YU SHU ULWRUQDUH DOOD QRUPDOH PRGDOLW 79 6ttvhr 3UHPHUH H@IV Bvhyy SHU YLVXDOL]]DUH OH LQIRUPD]LRQL DJJLRUQDWH VX GHWHUPLQDWH SDJLQH 2JQL YROWD FKH YHQJRQR WUDVPHVVL DJJLRUQDPHQWL LO QXPHUR GL SDJLQD YLHQH YLVXDOL]]DWR VXOOR VFKHUPR 3UHPHUH LO WDVWR Bvhyy SHU YLVXDOL]]DUH OD SDJLQD 3UHPHUH QXRYDPHQWH UWU@YU SHU ULWRUQDUH DOOD QRUPDOH PRGDOLW 79
$FFHVVR DOOH SDJLQH VRWWRFRGLILFDWH
0(18
4XDQGR OH LQIRUPD]LRQL GL 7HOHYLGHR ULFKLHVWH HFFHGRQR LO IRUPDWR GL XQD SDJLQD OH RSHUD]LRQL DXWRPDWLFKH GL FDPELR SDJLQD SRVVRQR ULFKLHGHUH SLÖ WHPSR ü SRVVLELOH WXWWDYLD DFFHGHUH DOOH SDJLQH VHFRQGDULH GHVLGHUDWH FRQWLQXDQGR D JXDUGDUH L QRUPDOL SURJUDPPL WHOHYLVLYL ILQR D TXDQGR OD SDJLQD VHFRQGDULD ULFKLHVWD QRQ YLHQH WURYDWD 6HOH]LRQDUH LO QXPHUR GL SDJLQD ULFKLHVWR PHGLDQWH L WDVWL QXPHULFL 3UHPHUH LO WDVWR H@IV H TXLQGL SUHPHUH LO WDVWR 7y 6XOOR VFKHUPR LQ DOWR D GHVWUD YLHQH YLVXDOL]]DWD OD VFULWWD 7
, QVHULUH LO QXPHUR GHOOD SDJLQD VHFRQGDULD GHVLGHUDWD SULPD FKH OD VFULWWD 7
VFRPSDLD 3HU VHOH]LRQDUH OD SDJLQD LQVHULUH H TXLQGL 3UHPHUH LO WDVWR Bvhyy SHU JXDUGDUH XQ QRUPDOH SURJUDPPD 79 , Q PRGDOLW /, 67 SUHPHUH H@IV Bvhyy 4XDQGR OD SDJLQD ý GLVSRQLELOH SUHPHUH LO WDVWR Bvhyy SHU YLVXDOL]]DUOD 3HU HOLPLQDUH OD SDJLQD HVHJXLUH XQD GHOOH VHJXHQWL RSHUD]LRQL - 3UHPHUH H@IV - 6HOH]LRQDUH XQ QXRYR QXPHUR GL SDJLQD - 3UHPHUH UWU@YU SHU ULWRUQDUH DOOD QRUPDOH PRGDOLW 79
1RUPDOL]]D]LRQH
1
3UHPHUH LO SXOVDQWH k1l SHU ULWRUQDUH DOOD PRGDOLW 79
&2//(*$0(17, $8', 2 9, '(2
ü SRVVLELOH FROOHJDUH D TXHVWR WHOHYLVRUH XQ JUDQ QXPHUR GL DSSDUHFFKLDWXUH 1HOOH SDJLQH FKH VHJXRQR YLHQH VSLHJDWR QHO GHWWDJOLR FRPH FROOHJDUH GLVSRVLWLYL HVWHUQL VLD DOOD SDUWH DQWHULRUH FKH DOOD SDUWH SRVWHULRUH GHO WHOHYLVRUH 8QD YROWD FROOHJDWR O
DSSDUHFFKLR XWLOL]]DUH OH VHJXHQWL SURFHGXUH SHU YLVXDOL]]DUH OH LPPDJLQL 79$9 3UHPHUH LO WDVWR UW6W 6HOH]LRQDUH LO WDVWR D VFKHUPR LQ ULOLHYR SHU VFHJOLHUH OD VRUJHQWH $9 FKH VL GHVLGHUD YLVXDOL]]DUH DG HVHPSLR SUHPHUH LO SXOVDQWH YHUGH VH SHU VHOH]LRQDUH $9 VH VL ý FROOHJDWR XQ YLGHRUHJLVWUDWRUH '9'5 DOOD SUHVD 6FDUW $9 , WDVWL GL VHOH]LRQH D VFKHUPR VSDULVFRQR LQ SRFKL VHFRQGL 6H VL GHVLGHUD VHOH]LRQDUH XQ LQSXW TXDQGR L SXOVDQWL QRQ VRQR YLVXDOL]]DWL SUHPHUH L WDVWL FRORUDWL DQFRUD XQD YROWD H L WDVWL YHUUDQQR YLVXDOL]]DWL QXRYDPHQWH Ir) - 4XHVWR WHOHYLVRUH SXÌ FDPELDUH DXWRPDWLFDPHQWH DOOD PRGDOLW $9 VH LO GLVSRVLWLYR FROOHJDWR LQYLD DO FRQQHWWRUH GHO FDYR 6&$57 FROOHJDWR XQ VHJQDOH GL FRPPXWD]LRQH 4XDQGR LO SURJUDPPD WHOHYLVLYR YLHQH FDPELDWR O
LPPDJLQH ULFHYXWD ULPDUU OD VWHVVD - ü SRVVLELOH ULWRUQDUH DO WHOHYLVRUH SUHPHQGR LO SXOVDQWH UW6W R VFROOHJDQGR LO GLVSRVLWLYR $9õ - ü SRVVLELOH VHOH]LRQDUH OD IRQWH $9 XWLOL]]DQGR LO SXOVDQH UW6W VXO SDQQHOOR FRPDQGL GHO ODWR DQWHULRUH GHOO
DSSDUHFFKLR 79 3UHPHUH ULSHWXWDPHQWH LO SXOVDQWH UW6W ILQR D UDJJLXQJHUH OD IRQWH $9 FKH VL GHVLGHUD YLVXDOL]]DUH - 4XDQGR VL ý SRVL]LRQDWL LQ PRGR $9 VRQR GLVSRQLELOL VROR XQ QXPHUR OLPLWDWR GL RS]LRQL GHL PHQX $XGLR H )XQ]LRQL DG HVHPSLR QHO PHQX )XQ]LRQL QRQ ý GLVSRQLELOH O
RS]LRQH GL PHQX 6LQWRQLD
3UHVH DQWHULRUL 6HOH]LRQQH VRUJHQWH $9 H IXQ]LRQL
3UHPHUH H ULODVFLDUH SHU DSULUH 8VFLWD GDOOD SUHVD 8ssvr 6SLQD VWHUHR PP
, QJUHVVR YLGHR DOOD SUHVD 6 69 9LGHR
, QJUHVVR YLGHR DOOD SUHVD W &DYR YLGHR 5&$
, QJUHVVR DXGLR DOOH SUHVH 9 T [ FDYL DXGLR 5&$
1RWH
&8)), ( 67(5(2 FRQ SUHVD PP
9, '(2&$0(5$
- *OL DSSDUHFFKL DFFHVVRUL H L FDYL LOOXVWUDWL QRQ VRQR IRUQLWL FRQ TXHVWR WHOHYLVRUH - 3HU LQIRUPD]LRQL VXL FROOHJDPHQWL GHOOD SUHVD 69LGHR YHGHUH SDJLQD
&2//(*$0(17, $8', 2 9, '(2
3UHVH SRVWHULRUL
6, 67(0$ +, ),
&DYL DXGLR [ 5&$
8VFLWD GD SUHVH T9 6V9DP PVU , QJUHVVR8VFLWD GD SUHVD 6FDUW 6W 'DWL 4/LQN , QJUHVVR8VFLWD GD SUHVD 6FDUW 6W!'DWL 4/LQN
&DYR 6FDUW
&DYR 6&$57
9&5 4/, 1. &203$7, %/( 9&5
9&5 69, '(2 9&5 4/, 1. &203$7, %/( 9&5
'(&2'(5 '(&2'(5 /(7725( '9' '9' 5 9, '(2&$0(5$ 9, '(2&$0(5$ 69, '(2
&2162/(&20387(5 9, '(2*, 2&+, 5*%
1RWH
- *OL DSSDUHFFKL HG L FDYL DFFHVVRUL LOOXVWUDWL QRQ VRQR IRUQLWL FRQ TXHVWR WHOHYLVRUH - 1RQ FROOHJDUH XQ FRPSXWHU FRQ XVFLWD 773 9 D TXHVWR DSSDUHFFKLR 79
&2//(*$0(17, $8', 2 9, '(2
, QIRUPD]LRQL VXOOD SUHVD 6FDUW H 6 9LGHR 3UHVH 6FDUW $9 D SLQ
3UHVD 7HUUD 8VFLWD &9%6 YLGHR 7HUUD &9%6 , QJUHVVR 5RVVR 7HUUD 5RVVR , QJUHVVR 9HUGH 7HUUD 9HUGH , QJUHVVR %OX 7HUUD %OX 8VFLWD $XGLR 6 8VFLWD $XGLR ' , QJUHVVR &9%6 YLGHR 7HUUD VWDWR 5*% 6WDWR 5*% 7HUUD 'DWL 4/LQN 6WDWR &9%6 , QJUHVVR DXGLR 6 7HUUD DXGLR , QJUHVVR DXGLR '
, Q LQJUHVVL DGDWWL SHU 6W LQFOXGRQR 59% 5RVVR9HUGH%OX
3UHVD 6&$57 $9 D SLQ
3UHVD 7HUUD 8VFLWD &9%6 YLGHR 7HUUD &9%6 6& LQJUHVVR 7HUUD 7HUUD 8VFLWD DXGLR 6 8VFLWD DXGLR '
, QJUHVVR &9%6 YLGHR 7HUUD 'DWL 4/LQN 6WDWR &9%6 , QJUHVVR DXGLR 6 7HUUD DXGLR , QJUHVVR DXGLR '
, SLQ H GLSHQGRQR GDOOD FRPPXWD]LRQH 6W!69+69, '(2
3UHVD D SLQ 69LGHR
&KURPLQDQ]D LQ /XPLQDQ]D LQ
&KURPLQDQ]D WHUUD
/XPLQDQ]D WHUUD
*8, '$ $//$ 62/8=, 21( '(, 352%/(0,
Wvqr
Tv
6qv
Wrvsvph
9HULILFDUH OD FROORFD]LRQH O
RULHQWDPHQWR R LO FROOHJDPHQWR GHOO
DQWHQQD
(IIHWWR QHYH
6XRQR GLVWXUEDWR 9HULILFDUH OD FROORFD]LRQH O
RULHQWDPHQWR R LO FROOHJDPHQWR GHOO
DQWHQQD
, PPDJLQH GRSSLD 6XRQR QRUPDOH 9HULILFDUH OD YLFLQDQ]D GL HOHWWURGRPHVWLFL DXWRPRELOL PRWRFLFOL OXFL IOXRUHVFHQWL $WWLYDUH 315 QHO PHQX , PPDJLQH SHU ULGXUUH LO GLVWXUER 9HULILFDUH LO OLYHOOR GHO YROXPH /
LQWHUUXWWRUH GL VLOHQ]LDPHQWR SRWUHEEH HVVHUH DFFHVR 9HULILFDUH FKH LO WHOHYLVRUH VLD LQ PRGDOLW $9 9HULILFDUH FKH LO WHOHYLVRUH VLD FROOHJDWR DOOD SUHVD &$ 9HULILFDUH FKH LO WHOHYLVRUH VLD DFFHVR 9HULILFDUH FKH OH UHJROD]LRQL LPPDJLQH DXGLR QRQ VLDQR LPSRVWDWH DL OLYHOOL PLQLPL 9HULILFDUH FKH LO WHOHYLVRUH QRQ VLD LQ PRGR 6WDQGE\ 9HULILFDUH FKH L OLYHOOL GHO FRORUH QRQ VLDQR LPSRVWDWL VXL YDORUL PLQLPL
, QWHUIHUHQ]H
6XRQR GLVWXUEDWR
, PPDJLQH QRUPDOH
6XRQR DVVHQWH
1HVVXQD LPPDJLQH
6XRQR DVVHQWH
1HVVXQ FRORUH
6XRQR QRUPDOH
, PPDJLQH FDWWLYD R GLVWXUEDWD
6XRQR DVVHQWH R GHEROH
5LVLQWRQL]]DUH L FDQDOL , QWHUIHUHQ]D PDJQHWLFD SURYHQLHQWH GD DSSDUHFFKLDWXUH QRQ VFKHUPDWH /
DSSDUHFFKLR ý VWDWR VSRVWDWR PHQWUH HUD DFFHVR 6SHJQHUH O
DSSDUHFFKLR SHU PLQXWL 6H O
LPPDJLQH ý LQFOLQDWD XWLOL]]DUH OD IXQ]LRQH &RUUH]LRQH JHRPDJQHWLFD YHGHUH SDJLQD GHOOD *XLGD UDSLGD
0DFFKLH GL FRORUL
6XRQR QRUPDOH
, PPDJLQH QRUPDOH
/D ULFH]LRQH GHO VXRQR VL ý GHWHULRUDWD , PSRVWDUH 03; PHQX DXGLR VX 0RQR ILQR D 6XRQR DVVHQWH R PLJOLRUDPHQWR GHOOD ULFH]LRQH GHEROH
127( , 1', &$7, 9( $VVLVWHQ]D 3ULPD GL ULFRUUHUH DOO
DVVLVWHQ]D WHFQLFD FRQVXOWDUH OD JXLGD DOOD VROX]LRQH GHL SUREOHPL QHOOD SDJLQD SUHFHGHQWH SHU GHWHUPLQDUH L VLQWRPL GHO FDWWLYR IXQ]LRQDPHQWR 3HU RWWHQHUH DVVLVWHQ]D FRQWDWWDUH LO SURSULR ULYHQGLWRUH 3DQDVRQLF LQGLFDQGR LO QXPHUR GL PRGHOOR H LO QXPHUR GL VHULH HQWUDPEL VLWXDWL VXO UHWUR GHOO
DSSDUHFFKLR &$5$77(5, 67, &+( 7(&1, &+(
7;30' 7;30'%
6yvrhvr 8 rrtrvp 8 v Thqi 8vrpv GLDJRQDOH YLVLELOH Vpvh hqv SRWHQ]D PXVLFD
9 $& +] : : FP
/H FDUDWWHULVWLFKH WHFQLFKH VRQR VRJJHWWH D PRGLILFKH VHQ]D SUHDYYLVR , O SHVR H OH GLPHQVLRQL LQGLFDWL VRQR DSSURVVLPDWLYL
, PSHGHQ]D [ : 506 [ : 032 W $ PP / PP 9vrvv 3 PP Qr NJ Q6G 7B Q6G D T@86H 7B T@86H GG 9+) ( ( 9+) + + , 7$/, $ 9+) $ + , 7$/, $ 8+) ( ( &$79 6 6 &$79 6 6 0 0 &$79 6 6 8 8 &$79 6 6 +\SHUEDQG Q6G 9F T@86H 9F Tvrv qv vprvr 9+) 5 5 9+) 5 5 Ir qryyh ihqh 9+) 5 5 8+) ( ( Q6G $!$% 5LSURGX]LRQH GD QDVWUR 176& GD DOFXQL YLGHRUHJLVWUDWRUL 3$/ 9&5 HIUT8 y vtr 6W 5LSURGX]LRQH GD YLGHRUHJLVWUDWRUL 9&5 176& 0+] IUT8 y vtr 6W 5LSURGX]LRQH GD YLGHRUHJLVWUDWRUL 9&5 176& Ir qv vvv 9&5 qry thh Ir qryyr htvr ryrr 6rh Qrvr 8+) 9+) 8ssvr 6rvr PP , PSHGHQ]D W Vpvh 6qv rvr 8VFLWD DXGLR PRQLWRU [ 5&$ P9 506 6W 3UHVD D SLQ , QJUHVVR8VFLWD $XGLR9LGHR , QJUHVVR 5*% 4/LQN 6W Qrvr 6W! 3UHVD D SLQ , QJUHVVR8VFLWD $XGLR9LGHR , QJUHVVR 69LGHR 4/LQN 6W" , QJUHVVR 69LGHR , QJUHVVR DXGLR [ 5&$ , QJUHVVR YLGHR [ 6W 6rvr 5&$
, 6758=, 21, $//, 1($0(172
0DQXDOH GL $OOLQHDPHQWR
$77(1=, 21(
G 6hrppuv qrr rrr pyyrth qhyyh rr hq vyvh !Rhq yhhrppuv ý v svr rrv vrhrr rvhyv sv h "!xW rh vy svvhr qry vprvr sv qhy ivyr r rh hryy rvr ph thr rvpy qv pr ryrvpur
WHODLR 1 *3
6WW@SU@Ia6) Iry yh qv hvrh vyvhr vphrr v prv r yr hv qv vphiv svr qhy shiivphr Iry ph rth vvrthr hv qvssrrv qh ryyr pvtyvhr vy vyh h vsrvr h ryy rpvsvph yhssvqvivyv r yh vprh prr vyr yh thhvh rrr vhyvqhh Drqrh qryy hrh ) 8 QRQ ELODQFLDWD Tvrh qv Svprvr &&, 5 /LQHH Arrr vrrqvr ) 9LGHR 0+] 0+] $XGLR 0+] %* 0+] $ 0+] 1, &$0 %* / 0+] / 0+] &= 67(5(2 0+] /
0+]/
1, &$0 &RORUH 0+] 3$/ 0+] 0+] 6(&$0 0+] 0+] 6(&$0 /
Urvr hyy hq ) N9pN9 Wvqr 6qv Qrr ) $8', 2 021, 725 86&, 7$ $XGLR 5&$ [ P9 UPV N8 $9 , 1*5(662 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 5 9 % SLQ 9 SS 8 $9 86&, 7$ 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 $9 , 1*5(662 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 69LGHR , 1 < 9 SS 8 $9 86&, 7$ 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 $9 DQWHQLRUL , 1*5(662 $XGLR 5&$ [ P9 UPV N8 9LGHR 5&$ [ 9 SS 8 69LGHR , 1 < 9 SS 8 SLQ & 9 SS 8
, 6758=, 21, $//, 1($0(172
3RVL]LRQH LO 79 QHO 0RGR 6HUYLFH 3UHPHUH LO WDVWR 52662 R 9(5'( SHU VHOH]LRQDUH OH )XQ]LRQL 3UHPHUH LO WDVWR *, $//2 R %/8 SHU UHJRODUH L YDORUL 3UHPHUH LO WDVWR 0HPRULD VXOOD WDVWLHUD GRSR FKH RJQL UHJROD]LRQH ý VWDWD PHPRUL]]DWD
Avr qv prhvr
3RVL]LRQH RUUL]] 93RV $PSLH]]D RUUL]] $PSLH]]D YHUW (2DPSLH]]D (2DPSLH]]D &RUUH]WUDSH]RLGDOH &RUUH]WUDSH]RLGDOH /LQHDULWD YHUW 6LPPHWULD YHUWLFDOH $QJOH %RZ '9&2 +LJKOLJKW /RZOLJKW 6XE%ULJKWQHVV
Dqvphrpvrpv rrv) I7) , YDORUL LQGLFDWL VXOOR
VFKHUPR DSSURVLPDUWLYL +3RV 93RV +$PS 9$PS (:$PS /RZHU FRUQHU 7UDSH] 8SSHU FRUQHU 9/LQ 96\P $QJOH %RZ '9&2 +LJK /RZ 6XE%ULJKWQHVV
Qhvppyhvh qryyh vvhh Whyv qv
3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3UHPHUH LO WDVWR EOX SRL 2. [. . . ] Rhq yhhrppuv ý v svr rrv vrhrr rvhyv sv h "!xW rh vy svvhr qry vprvr sv qhy ivyr r rh hryy rvr ph thr rvpy qv pr ryrvpur
WHODLR 1 *3
6WW@SU@Ia6) Iry yh qv hvrh vyvhr vphrr v prv r yr hv qv vphiv svr qhy shiivphr Iry ph rth vvrthr hv qvssrrv qh ryyr pvtyvhr vy vyh h vsrvr h ryy rpvsvph yhssvqvivyv r yh vprh prr vyr yh thhvh rrr vhyvqhh Drqrh qryy hrh ) 8 QRQ ELODQFLDWD Tvrh qv Svprvr &&, 5 /LQHH Arrr vrrqvr ) 9LGHR 0+] 0+] $XGLR 0+] %* 0+] $ 0+] 1, &$0 %* / 0+] / 0+] &= 67(5(2 0+] /
0+]/
1, &$0 &RORUH 0+] 3$/ 0+] 0+] 6(&$0 0+] 0+] 6(&$0 /
Urvr hyy hq ) N9pN9 Wvqr 6qv Qrr ) $8', 2 021, 725 86&, 7$ $XGLR 5&$ [ P9 UPV N8 $9 , 1*5(662 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 5 9 % SLQ 9 SS 8 $9 86&, 7$ 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 $9 , 1*5(662 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 69LGHR , 1 < 9 SS 8 $9 86&, 7$ 9LGHR SLQ 9 SS 8 $XGLR SLQ P9 UPV N8 $9 DQWHQLRUL , 1*5(662 $XGLR 5&$ [ P9 UPV N8 9LGHR 5&$ [ 9 SS 8 69LGHR , 1 < 9 SS 8 SLQ & 9 SS 8
, 6758=, 21, $//, 1($0(172
3RVL]LRQH LO 79 QHO 0RGR 6HUYLFH 3UHPHUH LO WDVWR 52662 R 9(5'( SHU VHOH]LRQDUH OH )XQ]LRQL 3UHPHUH LO WDVWR *, $//2 R %/8 SHU UHJRODUH L YDORUL 3UHPHUH LO WDVWR 0HPRULD VXOOD WDVWLHUD GRSR FKH RJQL UHJROD]LRQH ý VWDWD PHPRUL]]DWD
Avr qv prhvr
3RVL]LRQH RUUL]] 93RV $PSLH]]D RUUL]] $PSLH]]D YHUW (2DPSLH]]D (2DPSLH]]D &RUUH]WUDSH]RLGDOH &RUUH]WUDSH]RLGDOH /LQHDULWD YHUW 6LPPHWULD YHUWLFDOH $QJOH %RZ '9&2 +LJKOLJKW /RZOLJKW 6XE%ULJKWQHVV
Dqvphrpvrpv rrv) I7) , YDORUL LQGLFDWL VXOOR
VFKHUPR DSSURVLPDUWLYL +3RV 93RV +$PS 9$PS (:$PS /RZHU FRUQHU 7UDSH] 8SSHU FRUQHU 9/LQ 96\P $QJOH %RZ '9&2 +LJK /RZ 6XE%ULJKWQHVV
Qhvppyhvh qryyh vvhh Whyv qv
3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH 3UHPHUH LO WDVWR EOX SRL 2. 3RVL]LRQH RWWLPDOH 3RVL]LRQH RWWLPDOH
, 6758=, 21, $//, 1($0(172 6(59, &( 02'(
<&'HOD\
237, 21
237, 21
237, 21
237, 21 237, 21 237, 21
237, 21 237, 21 237, 21
237, 21 237, 21
237, 21
237, 21
+RXUV
Pv 7r 7v I Tpryh
Pv 7r Uhiryyh Avhr
6WDQGDUG FRORUH $XWR 6WDQGDUG FRORUH 6(&$0 6WDQGDUG FRORUH 176& 6WDQGDUG FRORUH 0176& 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH
Pv 7r!Pv 7r Uhiryyh 7v I Tpryh
Avhr
1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH
, 6758=, 21, $//, 1($0(172
Pv 7r" Pv 7r Uhiryyh 7v I Tpryh
Pv 7r# Pv 7r Uhiryyh 7v I Tpryh
Avhr
3, 3 7XQHUV 'LVDELOLWDWR $ELOLWDWR
Avhr $ (QDEOH 'LVDELOLWDWR
1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH 1, &$0 (QDEOH 'LVDELOLWDWR $ELOLWDWR 1RQ 8VDUH 1RQ 8VDUH 1RQ 8VDUH $ELOLWDWR
1RQ 8VDUH 1RQ 8VDUH &57 +\SHU 6, ) 8+) 9+) , %* , %* '. [. . . ]