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Economic Analysis: Theory and Practice
 

Enhancing methodological tools for investment projects assessment

Vol. 14, Iss. 5, FEBRUARY 2015

PDF  Article PDF Version

Available online: 6 February 2015

Subject Heading: METHODS OF ANALYSIS

JEL Classification: 

Pages: 2-14

Kuvshinov M.S. South Ural State University (National Research University), Chelyabinsk, Russian Federation
msk1954@mail.ru

Komarova N.S. South Ural State University (National Research University), Chelyabinsk, Russian Federation
natalya_komarova_1976@inbox.ru

In the conditions of investment activity recession caused by the global financial crisis, investors are extremely careful in making their decisions. This fact essentially raises the urgency of validity of assessment of investment efficiency. In projects having high indicators of productivity of investments, the investor can be interested not only in profitability and return on investment, but also in other indicators reflecting strategic goals of enterprise development with regard to efficiency of production and economic activities, financial condition, social development, etc. which for each enterprise and investment project may have specific composition and acceptable values. Expanding the expertise reduces the risks of choice substantiation, and enhancing methodological tools in this sphere enables to avoid probable essential economic losses at the stage of investment project development and implementation. The purpose of the study is to enhance methodological tools for complex assessment of investment projects at industrial enterprises. On the basis of the hierarchy's analysis method, we selected the areas and indicators, which are the most significant for investors, and the indicators that are essential for determining the efficiency of investment project implementation. By means of the offered method of a multi-level integrated assessment, we analyzed various aspects of investment projects' expertise, including their significance at the current stage of calculation and their influence in ensuring decreased risk of assessments. We developed a set of requirements to structure, communications and functions of the mechanism of complex assessment of investment projects, a method of multi-level integrated assessment of investment projects by the integrated indicator of efficiency and the mechanism and the software, which implement them. We conclude that in conditions of the Russian economy, consideration of all interests of investors would provide for development and realization of reasonable investment strategies.

Keywords: investment activity, investment projects, efficiency, assessment, risks

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