Методические аспекты оценки эффективности инвестиционных проектов с государственным участием

Abstract

The subject of the study is the evaluation of the effectiveness of an investment project when making a decision on investing in it. The relevance of the work lies in the fact that in the conditions of sanctions pressure on Russia, the importance of state support for the investment activity of counterparties increases significantly. However, there are difficulties with an objective assessment of the effectiveness of investment projects when deciding whether to finance them. In the Russian Federation, there is a fairly broad practice of supporting projects at various levels, which has led to the emergence of a large number of regulatory documents that are sometimes not harmonized with each other and contain incomplete criteria for their evaluation, which ultimately leads to a decrease in entrepreneurial activity. The objectives of the work are a critical analysis of regulatory and methodological documents used to evaluate investment projects with state support and to develop proposals for improving the criteria for evaluating projects taking into account industry specifics (for example, the real estate sector). The scientific novelty of the research consists in the development of a rating methodology for evaluating an investment project in real estate, which allows for a point assessment of the effectiveness of the project as a whole, taking into account the business reputation and financial condition of the initiator of the project. Approaches to the evaluation of investment projects with the participation of the state are classified. Criteria have been developed for evaluating real estate projects, which can be used as the basis of a rating methodology for evaluating the effectiveness of investment projects. It is concluded that the methodology developed by the author makes it possible to evaluate the effectiveness of the project taking into account its economic, social and environmental significance.