评估和评价

今天看书，说在投资的时候，有两个关键的任务需要完成，一个是 performance measurement 另一个是 performance appraisal，后者，又叫做 evaluation，其实，appraisal  我是不认识的，但是 evaluation 我是认识的。

然后我发现，认识和能把握住一个词的内涵，真的是两码事。

其实，我对 evaluation 的理解，这两年受编程的影响很大，已经拿捏不准了，到底什么意思。于是我查了 Google，得到这么一个答案，还蛮受用。

Difference between Measurement and Evaluation

The main difference between evaluation and measurement may be explained with the help of following examples.

A teacher measures Mr. Aslam's height to be 180cm He evaluates-his height when he says that he is long.

A teacher measures Mr. Ali's achievement in Economics to be 50% he evaluates his achievement when he says that Ali's achievement in 'Economics is satisfactory

A teacher measures the size of a classroom and finds that it is 4mx3m. He evaluates the classroom dimensions when he reports that the classroom is too small for 40 students.

Aslam and Ali study in the same class, hi the first test they obtain in 50 and 70 marks respectively in English in the second test. Both of them obtain 80 marks. Now in the second measurement (test scores) achievement in English is the same yet the evaluation will differ when the teacher states that the rate of progress of Aslam is comparatively better than that of all.

Measurement helps in evaluation. This may be clarified, by taking one example. Aslam and Ali study in the same class. They take two tests. In the first test, they obtain 45 and 65 marks respectively in civics in the second test, both of them obtain 80 marks. Now in the second test the measurement (best scores) of their achievement in Civics is the same, yet the evaluation well differ, when teacher says that the rate of progress of Aslam is comparatively better than that of Ali.

简单来讲，measurement 就是评估的意思，按照例子的理解，就是对某种属性进行客观地观测，来得到一个相对客观的数值。

而 evaluation 则是根据得到的数值，进行一个主观的判断，暗含了价值的判断在里面。

应用在投资里面的话，我们首先要评估一个组合的 performance ，然后再在这个基础上，去 evaluation 它，如果再通俗点讲，就是 measurement 是“价格多少”的问题，而 evaluation 是 “值不值” 的问题。