Özet:

Öz en tr The study aims to determine and select the most suitable cost of projects by utilizing two approaches: investment finance methods and a strategy of decision-making under uncertainty and risk. Factors such as interest rate, depreciation practices and tax laws for the period in which the study was conducted, were included in the application. In addition, to determine the most appropriate financing method, sales price offers, bank loan, financial leasing and operating leasing offers for the projects planned to be invested in were compiled. Within the framework of the compiled offers, the costs of the projects were determined using the net present value method. After the financing method was determined, cash flow scenarios were simulated for each period of each project to predict future returns, considering cash flows in historical accounting records of another previous similar projects. Among these scenarios that obtained by Monte Carlo Simulation, which is one of the decision-making strategies under uncertainty, the averages of the ratios of the positive returns were compared. As a result of the comparison, for a logistics business that assumed to be following a risk-averse policy, the investment decision was made in favor of the project with the highest probability of providing the expected or higher the expected return.

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