THEORY, METHODOLOGY AND METHODS OF EVALUATION OF EFFICIENCY OF INNOVATIVE-INVESTMENT PROJECTS AND PROGRAMS
Yakhyyaev M.A.1
1 Институт социальных наук (международных отношений, управления и права)
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Journal paper
Economics and society: contemporary models of development (РИНЦ)
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Volume 7, Number 4 (October-December 2017)
Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=30783122
Cited: 6 by 24.01.2023
Abstract:
Purpose: the purpose of the article is to consider the specifics of the evaluation of the effectiveness of innovative investment projects and programs. To detail the company’s financial strategy for the upcoming period, it is optimal to present plans and directions for the company’s development in the form of an assessment of innovation-investment projects with their decomposition into operational, investment and financial budgets, since the flows of financial resources are characterized by a regular or aperiodic change in stability and instability, , that the localization of trends towards a loss of stability in the growth of a single enterprise in the external environment occurs precisely in the part of inefficiently organized financial management. Efficiently organized financial management in the enterprise is one of the conditions for its sustainable growth. Materials and methods: in the article, in the methodological aspect, modern theories of market economy, development and regulation are used; methods of structural and functional analysis and systems approach, groupings, graphical and tabular methods, a system of economic laws and scientific assumptions. Results: this article presents the definition of innovative and investment projects, gives a description of the main indicators for assessing the effectiveness of innovation and investment projects. The characteristic of the information necessary for the initiation of innovative and investment projects is given. The algorithm of risk management of innovation projects is given. The methodology of qualitative and quantitative analysis of risks of innovative and investment projects is considered. Conclusions: in the course of the study, it is justified that an innovation-investment project is considered effective if: its net present value is greater than zero; its internal rate of return is greater than the cost of the source of financing; its payback period does not exceed the horizon of longterm planning. Evaluation of the significance or insignificance of effects is made on the basis of consolidated calculations or by peer review and agreed with the profile service of the executive directorate. In projects related to the production and sale of new products, it is necessary to calculate the current profitability (excluding investment costs) by the types of new products.
Keywords: investment project, innovative project, the key performance indicators of the investment project, the risks of innovative projects
References:
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