Up-dating/up-grading

A mathematical operation that compares economic values spreading over time by adjusting the future value of a property to the current value. The update allows the analysis to take into account the costs or benefits that will materialize in the future. Note: The choice of an up-date rate (coefficient used to bring a future value back to a present value) has an influence on the result. In 2005, the General Planning Commission proposed revising the up-dating rate of public investments.