Abstract
In today’s rapidly changing world, the application of the achievements of scientific and technological progress, the development and implementation of investment projects become a competitive advantage and the key to the successful development of regions, clusters, corporations. In some of the most dynamic industries, investing becomes a matter of not just efficient operation, but also determines the presence of companies in the market. Applied research, and even more so fundamental, requires significant investments, the return on which at the first stages of the development and implementation of investment projects is difficult to predict. The end result is also obviously not predictable, which makes investing one of the most risky areas of activity of modern companies. Therefore, today the development and improvement of investment efficiency are the most important tasks. The institutional and economic environment of developing countries may not be the positive effect expected from attracting enterprise investment. These ambiguous results regarding the impact of investment form the motivation and problem of dissertation research. Identifying and improving methodological and economic parameters for increasing investment efficiency in the electricity industry will always be one of the main tasks for owners of enterprises and managers, which determines the relevance of the study. The article developed a methodological approach to assessing the efficiency of investment projects in the electric power industry taking into account the risks taken into account in calculating the discount rate for each phase of the life cycle of the project, which allows you to more accurately calculate the main indicators of the efficiency of the investment project.
Highlights
Many problems of formation of investment process in modern conditions are caused by lack of accurately developed system of assessment of efficiency of investment policy
Having conducted a comparative analysis of changes in the performance indicators of the analyzed project presented in Table 13, it should be said that due to the application of the proposed approach to assessing the effectiveness of the investment project taking into account the main types of risks at the enterprise, it was possible to significantly increase the accuracy of calculations of the forecast values of the implemented project, namely, net discounted project income (NPV) increased by 126.75%
When implementing the proposed approach to assessing the effectiveness of the investment project, UEMZ JSC will significantly increase the accuracy of forecast calculations [9]
Summary
Many problems of formation of investment process in modern conditions are caused by lack of accurately developed system of assessment of efficiency of investment policy. The system provides effective interaction of all levels of management, beginning from the enterprises and covering authorities of all levels [1]. It formulates these principles: principle of systemacity, principle of priority, principle of efficiency, principle of coherence and principle of control. Main objective of formation of the portfolio of investments is implementation of the investment policy developed at the enterprise. © The Authors, published by EDP Sciences.
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