The Comprehensive Assessment Methodology of the Design Company Financial Stability (as Exemplified by Volgograd Region)

Abstract

The article reviews approaches to the comprehensive assessment of the design company financial stability. The methodology comprises logical and mathematics & statistics components. The study focuses on developing a financial stability assessment methodology that fully covers the engineering design specifics. The methodology is a three-step one. The first step consists in the criteria-based systematization of financial stability (financial reliability, financial mobility, financial stability, financial solvency and financial performance). A number of indicators have been defined for each criterion. The indicators characterizing engineering design operations are emphasized. For instance, the Design Management Process Chart has been developed to assess engineering design works for compliance with market needs and design documentation mandatory requirements. At the second step, the optimized ranges of financial stability indicators are calculated and verified. The third step provides the integral assessment of financial stability. The proposed methodology of the design company financial stability comprehensive assessment helps estimate the impact of internal and external factors, calculate financial stability integral indicators and use them to rank the regional design companies, and draw up the potential strategies to ensure financial stability of a business entity. The methodology has been tested on design companies of Volgograd region.