Subject. The article discusses the economic relations of entities and investors in articulating and implementing an investment policy and managing the investment of financial resources. Objectives. We determine distinctions of creating and using a business plan of an investment project, illustrating the case of an industrial enterprise, and evaluate its performance indicators. The study also provides recommendations for mitigating investment risks identified in monitoring. Methods. Research is based on methods of the structural logic analysis and expert assessments. We hypothesize that a new investment project will be more effectively developed and implemented if there is a correct and appropriate business plan of the project and inherent investment risks are pre-assessed. Results. We analyzed statistical and dynamic methods for evaluating investment projects, found their strengths and weaknesses. Consequently, we selected optimal financial results of investment project studies, which are presented as business plans. The article sets out the methodological approach to ranking investment project risks through materiality and probability indicators, which are point-based and depend on the expert assessment method. This will allow for a more detailed classification of all risks associated with capital investment. Conclusions and Relevance. The article presents the assessment and rationale of the business plan on the investment project for industrial waste recycling, through a set of methods for evaluating the effectiveness of the investment project, so as to improve financial position and liquidity of the enterprise in the long run.
Gorodetskii A.E. Instituty gosudarstvennogo upravleniya v usloviyakh novykh vyzovov sotsial'no-ekonomicheskogo razvitiya: monografiya [Public administration institutions in the face of new challenges to the socio-economic development: a monograph]. Moscow, INECON Publ., 2018, 237 p. URL: Link
Sabitova N.M., Khairullova A.I. [The development of alternative financing instruments for small and medium-sized businesses]. Finansy i kredit = Finance and Credit, 2017, vol. 23, iss. 44, pp. 2631–2645. (In Russ.) URL: Link
Sevast'yanova M.V. [Investment policy of the enterprise in modern conditions]. Molodoi uchenyi = Young Scientist, 2017, no. 50, pp. 173–176. (In Russ.)
Rybkina E.A. [The project's investment attractiveness: Essence and assessment approaches]. Vestnik Permskogo natsional'nogo issledovatel'skogo politekhnicheskogo universiteta. Sotsial'no-ekonomicheskie nauki = PNRPU Sociology and Economic Bulletin, 2016, no. 3, pp. 271–282. URL: Link (In Russ.)
Bondarenko T.G., Soltakhanov A.U. [The need for financial planning in a modern economy]. Innovatsionnaya nauka = Innovative Science, 2017, no. 2-1, pp. 164–168. URL: Link (In Russ.)
Kosov M.E. [Criteria and methods of estimation of effectiveness of investment projects]. Azimut nauchnykh issledovanii: ekonomika i upravlenie = ASR: Economics and Management, 2017, vol. 6, no. 4, pp. 120–123. URL: Link (In Russ.)
Adzhyan L.V. [Liquidity and payments of the enterprise]. Ekonomika i sotsium, 2017, no. 5-2, pp. 795–798. (In Russ.)
Balynin I.V. [Assessing the effectiveness of investment projects: Rules, indicators and their calculation procedure]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2016, vol. 15, iss. 6, pp. 26–41. URL: Link (In Russ.)
Sazonov S.P., Pen'kov P.E., Mamedov F.N. [Evaluation of economic efficiency of investment projects]. Biznes. Obrazovanie. Pravo. Vestnik Volgogradskogo instituta biznesa = Business. Education. Law. Bulletin of Volgograd Institute of Business, 2014, no. 4, pp. 24–27. (In Russ.)
Sheina E.G., Astanakulov O.T. Upravlenie finansovymi riskami v investitsionnoi deyatel'nosti startapov: teoriya i metodologiya: monografiya [Financial risk management in investing activities of startups: Theory and methodology: a monograph]. National Research, 2020, 167 p.
Gadzhimuradova L.A. [The modern structure of a business plan and its importance in the economy]. Voprosy strukturizatsii ekonomiki = Issues of Structuring the Economy, 2018, no. 3. URL: Link (In Russ.)
Fedorov A.V., Sabirzyanova D.D. [Business plan as an effective development tool of the company]. Biznes i dizain revyu = Business and Design Review, 2017, no. 3. URL: Link (In Russ.)
Patrick M., French N. The Internal Rate of Return (IRR): Projections, Benchmarks and Pitfalls. Journal of Property Investment & Finance, 2016, vol. 34, iss. 6, pp. 664–669. URL: Link
Mikhailova E. Assessment of the Impact of the Duration of Construction on the Effectiveness of the Investment Project. Innovative Technologies in Environmental Science and Education (ITESE-2019). E3S Web Conferences, 2019, vol. 135. URL: Link
Boeri T. Beyond the Rule of Thumb: Methods for Evaluating Public Investment Projects. Boulder, CO, Westview Press, 1990, 162 p.
