Improving of the methodology for the economic justification of business decisions at agricultural enterprises based on the interests of consumers

Abstract

The improved method of evaluating the economic efficiency of projects for agricultural machinery modernization is developed and tested in the study. Traditional approaches are based on the use of investment project analysis methods to determine the economic efficiency of agricultural machinery modernization for the manufacturer. The suggested method includes the application of an integrated approach to evaluate the economic efficiency of equipment upgrade for both the manufacturer and the consumer. Benefits for the consumer are determined based on the specifics of developed technical solutions, which can be aimed at increasing the output of the machine, reducing operating costs, etc. The suggested method is tested using the example of analyzing the economic efficiency of the project for upgrading the pre-start system of the tractor engine with the application of a phase transition heat accumulator. The analysis conducted shows sufficient economic viability of technical solutions for both the manufacturer and the consumer of the tractor and indicates the potential for successful use of the improved method.