The characteristics of a Project is unique, uncertainty and high risk.Decision-makers put growing attention.on whether or not  investing on a project. Using scientific and effective methods to evaluate projects is an important issue for investment decision-makers .

Traditional decision-making methods for investment have restrictions on its assumptiont,they  neglect the valu which the uncertainty and flexibility bring. Therefore, there are  limitations in the practical application ,and impair the project ‘s impact on scientific and effective. In this paper, we will inturduce the theory of real options to investment decision-making..

Real option theory can objectively deal with the t uncertainties and flexibility in the project investmen, and it is a more reasonable method for project investment decision-making.

翻译的不好。见笑了

thank you very much,peijiamei