Subject. The article considers the need to study the financing of investment and innovation processes and creating an effective system of project financing. Objectives. The purpose is to search for new opportunities to enhance the competitive advantages of enterprises of the dairy subcomplex, to ensure their financial stability and steady position in specialized agricultural food-product markets. Methods. The study draws on the theoretical and methodological approach to the impact of project management of innovation and investment activities on improving the efficiency of the project financing system and financial stability of enterprises operating in the dairy subcomplex. Results. The findings show that four levels can be distinguished in the formation and improvement of the system of project financing and the management of innovation and investment activities, depending on the depth of transformation. The principle that provides the integration of the said system with the current model of management of the dairy subcomplex enterprise is defined as a driver. The paper offers a number of levels of the system transformation to gain competitive advantages. Conclusions. I present a mechanism for creating and improving the system of project financing and the management of innovation and investment activities, and a mechanism for interaction of the network of automated information systems, intended to make management decisions, with the automation of information support to innovative solutions.
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