A methodology for investment planning in developing fisheries
Of all the corporate tasks facing government agencies and business enterprises, none is more challenging or has received more attention than those involving the management of capital. This is as true for fisheries as any other sector of the economy. However, a fishery is the meeting place of many disciplines and the complex interactions that result from the biological, legal, social, psychological, political, technological and engineering problems within it, intensify the difficulties in the search for ideas and solutions for the rational economic management of capital investment.In spite of the complexities a rational approach is needed involving the location and evaluation of all the opportunities for development across the whole of a fishery now or in the future. Capital investments dictate the entire pattern of production of fish and fish products and decisions taken in this area are usually irreversible. It is therefore, undesirable to allow the situation to develop as a random process.No system of capital budgeting will substitute for the final judgements that have to be made regarding fishery investment decisions. They can provide systematic approaches to reducing available information into patterns that suggest particular decisions'and strategies and an outstanding requirement is to determine in which sectors and to what extent they can assist with these problems.The benefits that can be obtained from the ability to programme capital investments which will secure improvements in the utilisation of capital labour and other resources have not been investigated within a comprehensive framework. A number of theoretical studies have been published and in a few cases have been validated on actual fisheries. Some of them are well developed but have generally considered the problems of sections of the industry in isolation.This thesis is concerned with the development of the methodology; techniques, criteria and data that will assist with management decision-making in this field and, also with an assessment of the relative contributions that result. The particular approach is to consider a completely integrated national fisheries system and investigate the overall problems that develop and then consider the independent sections of fisheries in order to investigate the specific problems that are peculiar to those sections.It is essential for work of this kind, that a theoretical study of the methodology, techniques and criteria should be developed within a realistic environment. For this reason, all the cases examined are based on actual fishery problems.