innovative project

Effective Project Finance System: Principles and Practices

Introduction. Russian economic acceleration, innovative and digital economy establishment and development requires an increase in investment challenged to high technology sectors. Successful achievement of this objective defines finding the investments attraction mechanism. One of them is the project finance, which is a modern investment instrument in high-risk environments. Increasing importance of project finance implies a more detailed exploration of its mechanism, application characters in current Russian conditions. Theoretical analysis. The content, signs and background to use project finance was analyzed. It was shown that project finance is the riskiest investments attraction model, which defines the creation and use of effective risk management system. Project finance advantages and disadvantages for its participants in comparison with the other investments attraction methods were found. Empirical analysis. Valuation, industrial and regional structure of global and Russian project finance markets were submitted, their main development trends were identified. Results. Project finance is a modern effective investments attraction model in high-risk environments. It was considered that its effectiveness largely depends on right purpose, its relationship with development strategy, project realization specificities accounting on various stages of project life cycle, project company activity, development finance institutions, government regulation methods. Main directions of project finance improvement in Russian economy based on development trends of global project finance market were revealed. It was shown that project finance mechanism should be applied for realization of not only investment projects, but innovative as well.

Model of Balanced Distribution of Innovative Resources of Industrial Enterprises Between Objects of Innovation

Introduction. In today’s world the use of information technology in an industrial enterprises is one of the key factors for its development. Information systems provide the stable functioning of the various companies, supporting all key innovation processes, as well as a source of analytical support for effective management decisions to ensure a balanced distribution of innovative resources between objects of innovation. Theoretical analysis. This article discusses some aspects of management of innovative resources of industrial enterprises and their ranking. Scientific concept of intentionality shows a balanced distribution of innovative resources of industrial enterprise between objects of innovation. The author’s model of optimization of «centralized scheme» of balanced distribution of innovative resources, helps to minimize risk and effectively distribute them in the implementation of innovative projects based on environmental conditions based on expert judgment. It is proved that in the modern scientific economic literature devoted insufficient attention to the development of methods and tools for modeling and analysis of problem situations in innovation and innovative mechanisms for distributing resource of more often based on an analysis of only the financial performance indicators. Results. The scientific concept of a balanced distribution of innovative resources between innovation on the basis of modified methods produced objects innovation rankings (alternatives) and developed an optimization model «of centralized scheme» of balanced distribution of innovative resources of industrial enterprises. Conclusions. An assessment of the optimization model of «centralized scheme» developed by the author of concept of a balanced distribution of innovative resources between objects of innovation.