中文摘要：

本案例通过对聚鑫房地产公司遇到的项目开发难题进行分析，提出了三种意见，即立即开发、不可开发、观望后做决定。通过对项目收入、成本费用等各方面进行分析、计算，并对项目建成后的经济效果进行预测，帮助学员了解项目投资中需要注意的资本成本、投资风险和现金流量等问题，以把握项目投资的关键点。

英文摘要：

To the difficult situation faced by Jvxin, a company engaged in development of real estate projects, this case study provides three possible solutions. They are immediate development decision, non-development decision and wait-and-see decision. After analyzing and calculating income and cost of the project, this case study forecasts the economic effects of the project when it is completed. This study tries to offer a comprehensive understanding of the key problems such as cost, investment risk and cash flow in the project investment.