Английский язык в сфере компьютерных и телекоммуникационных технологий (стр. 24 )

Advantages of this technique are that the incisions are small and patient recovery is quick. In traditional open-heart surgery, the surgeon makes a ten to twelve-inch incision, then gains access to the heart by splitting the sternum (breast bone) and spreading open the rib cage. The patient is then placed on a heart-lung machine and the heart is stopped for a period of time during the operation. This approach can be associated with postoperative infection and pain, and prolonged time to complete recovery. Because patient recovery after robot-assisted heart surgery is quicker, the hospital stay is shorter. On average patients leave the hospital two to five days earlier than patients who have undergone traditional open-heart surgery and return to work and normal activity 50% more quickly. Reduced recovery times are not only better for the patient, they also reduce the number of staff needed during surgery, nursing care required after surgery, and, therefore, the overall cost of hospital stays.

Compared with other minimally invasive surgery approaches, robot-assisted surgery gives the surgeon better control over the surgical instruments and a better view of the surgical site. In addition, surgeons no longer have to stand throughout the surgery and do not tire as quickly. Naturally occurring hand tremors are filtered out by the robot’s computer software. Finally, the surgical robot can continuously be used by rotating surgery teams. While the use of robotic surgery has become an item in the advertisement of medical services, critics point out that studies that indicate that long-term results are superior to those after laparoscopic surgery are lacking. The robotic system does not come cheap and has a learning curve. Data is absent that proves the increased costs can be justified. In medical literature, very experienced surgeons tend to publish their results with robotic systems. However, these may not be representative of surgeons with lesser experience.

In early 2000 the field of general surgical interventions with the daVinci device was explored by surgeons at Ohio State University. Reports were published in esophageal and pancreatic surgery for the first time in the world and further data was subsequently published by Horgan and his group at the University of Illinois and then later at the same institution by others. In 2007, the University of Illinois at Chicago medical team, led by Prof. Pier CristoforoGiulianotti, reported a pancreatectomy and also the Midwests fully robotic Whipple surgery. In April 2008, the same team of surgeons performed the world's first fully minimally invasive liver resection for living donor transplantation, removing 60% of the patient's liver, yet allowing him to leave the hospital just a couple of days after the procedure, in very good condition. Furthermore the patient can also leave with less pain than a usual surgery due to the four puncture holes and not a scar by a surgeon.

EXERCISE 2

Say, to what degree the title can help understand the content of the text.

EXERCISE 3

Determine the part of speech according to the suffixes (prefixes), translate the following words.

machine - machining; supply - supplier; similar - similarly, direct - direction - directive - directly; differ - different - difference; set - setting; operate - operating - operation - operational - operative - operator; infinite - infinitely, rotate - rotation - rotational - rotative - rotary, advantage - advantageous; change - changer - changeable; remove - removal - removable; vary - various - variable - variety - variant - variation; base - basic - basically

EXERCISE 4

Complete the following sentences using facts fromthe  text.

1. It should be stressed that robotic surgery is.... 2. In fact, robotically-assisted surgery was developed.... 3. As a general rule the advantages of this technique are.... 4. As is known the disadvantages are.... 5. It is necessary to mention that a number of applications have been under made  in... .

EXERCISE 5

Dividethetextintologicparts. Titlethem.

EXERCISE 6

Find in the text description of robotic surgery processes.

EXERCISE 7

Say what kind of information from the text is particularly important for you as an engineer.

EXERCISE 8

Express your attention to advantages and disadvantages of robotic surgery described in the text. Could you use any facts from the text in your course/diploma paper?

EXERCISE 9

Whatdoyouknowaboutrelationsofyouruniversitywithanyplantsproducingrobots?

EXERCISE 10

Write summary of the text for an engineering journal.

PART IV

PROCESSES IN AUTOMATION PRODUCTION

UNIT I

METHODS OF PROJECT EVALUATION

Text I

Evaluation Methods of Innovation Project Cost

EXERCISE 1

Read and translate the text.

What is the cost of an innovative project? Most often this question rises, when you want to assess whether the project is able to recoup its costs. In general, it means: reimbursement of expenses at the expense of operating incomes of the projects, gaining profit and recoupment of investments.  In some cases, the costs of engineering setup have already been incurred, and the need to determine the cost of the project is attributed to the terms of acquisition or "transformation of the cost." Anyway, the cost of the project depends on the market, progress of the project implementation, and opportunities. There should be taken into account “a human factor”, when in the future managers may change their mind about the need to continue work on the project, if it appears economically unfavorable. If a chance to use a real option in our estimation is not taken, it may lead to underestimation of the project profitability. The most important feature of a real option is its ability to recognize rapidly changing economic environment in which the company operates, that is particularly important in the world economy nowadays.

As a rule, it is the method of cash flow discounting that is fundamental for any project cost estimation, despite the fact that this method has its specific features and cannot be suitable for analysis in conditions of indeterminacy.

The advantages of income approach are its versatility and theoretical validity. Income approach allows determining the value of asset according to the type and purpose of the transactions done by the evaluation, and also allows to forecast future earnings and economic incur using a mechanism of economic depreciation.

The main drawback of the income approach is to obtain original information necessary for the calculations. Besides, it is difficult to assess the amount of future earnings of the company implementing the project, because information on future revenues is uncertain.

Drawbacks of the cash flow discounting may have negligible effect on the evaluation results, but the use of this method is often a source of errors in assessing risky investments, where uncertainty and necessity to make a decision characterize the project and determine its value.

In practice, there exist various modifications of this method. In particular, in order to estimate the company risks are allowed in the cash flows, instead of allowance for project risk in the discount rate: expected cash flows are "weighted" according to the specific business risks. Thus, the specific risks of biotechnological companies are associated with passing the stages of development of biotechnology project when in the process of developing pharmaceutical products different phases of medical tests are specified). The discount rate allows risks of those projects only in which all the stages have been passed.

Income approach is the most reasonable, since the cost of the project lies in its ability to generate future cash flows. The risks associated with these cash flows are important. Method of real options can be viewed as an important specific opportunity to act as a legal or physical person, to realize an innovative project.

Option to terminate or sale the project is valuable because salvage value means the lower limit of the project cost. The project to be terminated costs more than the project which is not going to be terminated. Option cost in this case is the cost of the innovation project. The price of the exercise of option is the cost of the investment project. Underlying assets are goods, works, services, implementation of which will bring the estimated revenue from the investment project. Project cost is probably the most important stage for choosing the project (besides technical and marketing analysis), because at this stage financial parameters appear.

Anyway, the guidelines for choosing evaluation methods are true information and competent personnel to use this information for the most profitable investment.

EXERCISE 2

Learn the following words and expressions.

conditions of indeterminacy	условиянеопределенности
engineering setup	наладкапроизводства
income approach	доходныйподход
project termination	прекращение проекта
method of cash flow discounting	метод дисконтирования денежного потока
underlying assets	базисные активы
option cost	стоимость опциона
estimated revenue	предполагаемый доход
evaluation methods	способы оценки
transformation of the cost	трансформация стоимости
pharmaceutical products	фармакологические препараты
legal or physical person	юридическое или физическое лицо
economic obsolescence	экономическое устаревание
acquisition	приобретение

EXERCISE 3

Answer the following questions.

1. What methods are used for evaluating the project cost? 2. What does the project cost depend on? 3. What are advantages (disadvantages) of the income approach method? 4. How can you determine the real option method? 5. Why are availability of information and competent personnel important factors for the choice of evaluation methods?