Subject. This article discusses the development of the world knowledge economy and the introduction of scientific and technological innovations in production and economic activities. Objectives. The article aims to critically rethink and give a comparative characteristic of the theoretical and methodological tools for assessing the effectiveness of the implementation of scientific and technical innovation projects. Methods. For the study, we used the methods of generalization, grouping, and graphic interpretation. Results. The article defines the current methods for assessing the impact of risks on the economic efficiency of projects, identifies the main approaches to assessing the non-economic components of the effectiveness of innovative projects, and identifies promising areas for the development of the instrumental and methodological base for assessing the innovative project effectiveness. The article also presents the author-developed classification of approaches to assessing the effectiveness of innovative projects. Conclusions. The assessment of the economic efficiency of innovative projects is complicated by a high level of uncertainty. A number of methods make it possible to take into account the impact of risks on the economic efficiency of projects and improve the accuracy of assessment, which, however, is not enough to make effective management decisions. The assessment of non-economic components helps reduce uncertainty and identify positive effects that cannot be interpreted in value.
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