EVALUATION OF ECONOMIC EFFICIENCY OF INNOVATION PROJECT

Abstract

Purpose. Evaluate the efficiency of the innovation project. Methodology. It has been generalized, compared and detailed of the information on modern methods of evaluating the innovative project effectiveness by the analysis of the modern literature. Results. The innovative development of enterprises in a developed market environment is a necessary and indispensable condition for ensuring competitiveness. Achievement of high or sufficient indicators of economic efficiency of innovation is an indicator of the result obtained in the course of investing and all resources in a new product, operation or technology. The introduction and practical implementation of even a small-scale innovative project (workshop of an enterprise) will improve the main technical and economic indicators, namely, increase production by 20 % and reduce production costs by 18.75%, increase product profitability by 4.28% and a decrease in production costs by 6.14 %. Originality. Analyzed the works of domestic and foreign economists dedicated to innovative development. Modern approaches to assessing the economic efficiency of an innovative project are considered. Practical value. It is shown that one of the economic criteria, that can be used by enterprises, is the economic effeciency innovation. This criterion means that the result obtained after investing of all resources in a new product, operation or technology has a certain beneficial effect.