Development of an Optimization Model for the Formation of an Innovative Project Portfolio per Stages of the Life Cycle

In modern conditions, one of the most important factors of financial stability and competitiveness of an enterprise is the rational use of resources when investing in projects, especially those of an innovative nature. At the same time, the classical approaches to substantiating the effectiveness of investment decisions for innovative projects of enterprises have a number of serious assumptions due to the complexity, and sometimes the impossibility of assessment in conditions of uncertainty and risk, as well as a continuously changing external environment. This paper is devoted to the use of mathematical models as alternative tools for solving the problem of substantiating the optimal amount of investment and time spent in the formation of a portfolio of innovative projects by stages of the life cycle. An optimization model for the relationship of investments from the beginning to the end of the project life cycle stages has been developed. On the basis of the developed model, the main characteristics of the process of implementing investment projects have been determined, including the minimum and maximum volumes of rational investment, as well as the extreme values of income and losses from project investment. The implementation of the developed methodology was carried out using the computing capabilities of the Microsoft Excel program. Based on the results obtained, a conclusion was made about the possibility of practical implementation of the developed model.