Удосконалення методики оцінки ефективності інноваційного проекту

Abstract

Запропоновано методику оцінювання ефективності інноваційно-інвестиційного проекту в сучасних умовах господарювання. Для визначення економічної ефективності інноваційноінвестиційного проекту взято за основу показники чистої теперішньої вартості проекту (NPV) та внутрішньої норми дохідності (рентабельності) капіталовкладень у реалізацію інноваційного проекту (IRR). Наведена методика розрахунку враховує розподіл ефекту між розробником, впроваджувачем та кінцевим споживачем нового товару.

The implementation of innovation projects has a long-term perspective, so the results can not be determined with absolute precision, because the influence of risk and uncertainty factors should be taken into account. A technique for evaluating the efficiency of an innovation and investment project in modern economic conditions which should be fulfilled step by step is proposed. At the first stage, it is necessary to determine the total cost of implementing the entire project. This will allow to calculate the amount of output cash flow. It will consist of current and one-time costs. At the second stage, we determine the value of enterprise total costs from the innovation project implementation. It will equal the absolute value of all cash receipts from the innovation project implementation. At the third stage, it is possible to determine the absolute value of net income. To do this, the volume of profitable cash flow should be reduced by the size of the output cash flow. At the fourth stage, we can determine the amount of discounted net income from the innovation project implementation. It will reflect the present value of the effect of the innovation project implementation. At the fifth stage, we can determine the payback period for investment in the innovation project. The period of return on investment in the innovation project will be equal to the time interval from the moment of the beginning of the investment until the net income from the project implementation, calculated on the basis of the incremental amount, fully compensates for the total costs. At the sixth stage, it becomes possible to determine the return on investment index in the innovation project. The economic meaning of the index is that it characterizes the share of discounted net income, which falls on a unit of reduced total costs. The greater the value of the return index is, the more profitable it will be to invest in the innovation project. To determine the economic efficiency of an innovation and investment project, indices of the net present value of the project (NPV) and the internal rate of return on investment from the implementation of the innovation project (IRR) are taken as the basis. This calculation technique takes into account the distribution of the effect between the developer, the manufacturer of new products and the final consumer of a new product