Abstract

Nowadays successful innovation projects have of great importance in development of the company. Proper assessment of the profitability of an innovative product or technology ensures a profit. The concept of innovation, structure innovation projects, the main features of innovation in the construction industry are presented in the paper. Slow investment turnover due to a long period of the growth of product popularity and attractiveness is the main characteristic of innovation. In addition, various risks that may be encountered in the implementation of innovative projects in the field of construction are exist. For example, mistakes in selecting investment areas, an agreement with unreliable companies, and more. However, the rational organization of the development process of innovative product helps to avoid these problems. Despite the huge amount of risk, there are some successful examples of innovation in the construction industry. They mainly focused on energy savings. Innovative activity in the construction sector in Russia is only beginning to develop. A number of problems that arise in Russia, mostly relate to the lack of government support in the initial phase of development of innovative projects and low-skilled specialists in the field of evaluating the effectiveness of innovation. The introduction of the necessary standards and in time forecasting will create a favorable environment for the development of innovation. © PNRPU

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