Development Project Selection Research Articles

A Normative Methodology for the US Army Corps of Engineers Operational Research & Development Project Selection

USACE is currently without a scalable, normative decision support tool that aids districts and major subordinate commands (MSC), in the prioritization of operational Civil Works research and development (R&D) initiatives. As part of the newly designed operational R&D budget build methodology in 2022, this research develops a process to fill this void. This research presents a novel design for a decision support tool, that’s results will aid in the decision maker’s analysis of project prioritization and increase the overall value of R&D initiatives in context of MSC portfolios. The Scalable Weighted Operational R&D Decision (SWORD) Tool will build upon the current objectives outlined by ERDC in their Operational Research & Development Playbook v1.0 to ensure alignment to the new ERDC operational R&D process. Moreover, the ERDC validated SWORD Tool supports commensurate adjustments, ensuring future project portfolios continue to reflect command priorities.

Diversification strategy as a tool for anti-crisis management of enterprises

Business entities faced serious challenges under the conditions of a full-scale war between the russian federation and Ukraine. Suppose previously the focus of the business was profit and cost minimization after February 24, 2022. In that case, the owners and managers of enterprises are responsible for protecting the life and health of their employees, preserving the material and technical infrastructure, and restoring everyday work as soon as possible. In adapting Ukrainian enterprises to the new functioning realities, the problem arises of developing an anti-crisis strategy for developing canning industry enterprises. In the conditions of limited raw resources and their seasonality, the rational and objective selection of development projects, placement, and integration of processing enterprises deserve special attention. This study aims to research the process of forming a diversification strategy as a tool for anti-crisis management of the enterprise. The method of forming a diversification strategy as a tool for anti-crisis management of the enterprise is disclosed. A scheme of the sequence of development of the management decision strategy in the anti-crisis management of the enterprise has been developed. The dynamics of retail prices for fruit and vegetable products were analyzed. The market segmentation of fruit and vegetable products and processed products in Ukraine was developed based on the conducted survey. The factors of the crisis in the fruits and vegetables canning industry have been revealed and systematized. For Odesa Cannery PJSC, the authors proposed management solutions to overcome the problem. In the system of choosing the strategy of anti-crisis management of the enterprise, in addition to the theoretical, methodological, and practical support for making management decisions, the methodological support for the diagnosis of financial and economic indicators (calculation of liquidity and capital adequacy ratios, the ratio of the balance of the structure of liquid assets by the crisis and the degree of its influence) is of great importance, capital liquidity and the degree of its power to increase the objectivity of the assessment of the consequences of a crisis should be paid special attention. Keywords: diversification strategy, management decisions, diagnosis of financial and economic indicators, anti-crisis management

APPLICATION OF THE FUZZY SET METHOD FOR THE SELECTION OF ENTERPRISE SUSTAINABLE DEVELOPMENT PROJECTS CONSIDERING STAKEHOLDERS’ OPINIONS

Purpose. The purpose of this study is to improve the theoretical and methodological foundations of sustainable development management introduced into an enterprise environment for achieving SDG 2030 by creating scientific proofs of the best choice among sustainable development projects taking into account the stakeholders’ opinions and applying fuzzy set method. Design/methodology/approach. In the article, the authors used the literature review method in order to support the idea of topicality of sustainable development of enterprises and reveal the high relevance of the study of sustainable development project choice by means of fuzzy logic method. To achieve the goal, the article used general scientific methods that ensured the integrity of the research, in particular: methods of theoretical generalization and abstraction – for systematization of scientific results and formulation of conclusions; structural analysis, grouping and combination of features of the investigated objects – to identify groups of stakeholders of the sustainable development of the enterprise. A special method of fuzzy sets was used to adapt the vague and subjective judgments of stakeholders on the value of sustainable development projects to the process of managerial decision-making regarding the selection of sustainable development projects. Findings. The sustainable development of the enterprise is limited or does not meet the global goals of sustainable development until 2030, if the opinion of a wide range of stakeholders is not taken into account during the implementation of social and environmental projects. Sustainable development concept of the balanced stakeholders’ interests rather than social, economic and environmental areas is discussed. Projects for the sustainable development of the enterprise are to be selected on the basis of the information obtained from external and internal participants in relation to the enterprise who act in socio-economic environment. The information base regarding the opinion of stakeholders on the value of a sustainable development project for them can be shaped as fuzzy variables, giving respondents the option to express subjective, ambiguous, evaluative judgments instead of unambiguous and formalized ones, which will increase the quality of decisionmaking on the selection of sustainable development projects implemented by an enterprise. Practical implications. The study provides managers of an enterprise with the tools of making choice among sustainable development projects that is guided not only by managerial views on the enterprise profitability but also external stakeholders’ vague and subjective judgments on sustainable development project value. The paper opens the concept of stakeholders involved into decision-making that can be used by an enterprise for enhancing its image as one with corporate social responsibility excellence. Originality/value. This study highlights the case that is an evidence of the presence of an alternative stakeholders’ opinion causing the problem of choosing sustainable development projects of the enterprise. The research outlines three types of stakeholders, whose judgments should be taken into account when choosing projects for the sustainable development of an enterprise. A universal indicator of a sustainable development project implemented by an enterprise, in relation to which an information base of evaluative judgments of stakeholders should be formed, is determined. The study proposes fuzzy variables for the selection of enterprise sustainable development projects based on fuzzy logic.

Evaluating R&D Projects in Regulated Utilities: The Case of Power Transmission Utilities

Research and development (R&D) project selection is essential for many organizations; however, it is a complex decision since it is affected by many factors. These factors vary among organizations because of their different objectives and conditions and limited budgets for the investments. Therefore, the main motivation of this article is to create a method to help improve the ex-ante selection of R&D projects in regulated organizations. More importantly, the case application is the electric transmission utilities sector, which plays one of the most critical roles in the entire electric power system. The main objective of this article is to develop a model to select R&D projects based on a holistic approach aligned to strategies, utility objectives, and market conditions in the electric transmission sector. At the same time, it identifies, categorizes, and quantifies the factors associated with R&D projects in the power sector. The analysis is framed into a multicriteria model, hierarchical decision model—HDM proposed by (Kocaoglu, 1983), which considers all the aspects associated with R&D projects. The model and the application are potentially applicable to regulated organizations around the world. Moreover, the flexibility of the model allows it to be adopted by electric transmission utilities with similar characteristics to utilities in the United States. A complete analysis of criteria and subcriteria has been done. There are gaps in the literature that have been identified and that support the idea of using a multicriteria analysis to evaluate R&D projects. The methodology is described, and the application of the model is provided.

Integrated green construction as a prerequisite for sustainable urban development

The article studies problems of sustainable housing construction modeling as part of complex development of the territory projects with consideration of requirements of green, energy-efficient and resource-saving approaches as an obligatory condition of sustainable urban development. The aim of the study is to develop methodical approaches and scientific and practical recommendations in the field of integrated green construction modelling on the basis of assessment and cost management of environmental eco-oriented life cycles of a set of capital construction objects. The object of the study is taken in the form of a portfolio of capital construction projects as part of investment programs for integrated residential development of territories at the stage of prospective construction preparation in the conditions of their competitive selection for financing based on the priority. The article demonstrates the obtained scientific results in the form of: conceptual clarification of the category of integrated green construction; methods of estimation of the environmental-ecological cost oriented life cycles of buildings in the competitive selection of complex residential development projects for its application in the selection procedures for financing; justification of the author’s coefficient «infrastructure» in the assessment of the cost of the life cycle of buildings; modeling the effects of reducing the cost of environmentally-oriented life cycles of objects of complex green development.

New product development (NPD) project portfolio management: What is the role of learning?

Project portfolio management is a strategic weapon. Despite, the abundant amount of literature on research and development (R&D) project evaluation and selection, earlier research does not exploit the potential of learning even if it may generate significant opportunities. The aim of this paper is to deepen the knowledge on how a learning process could favor the selection and management of projects to include in the portfolio, considering the relevance of strategic orientation. Grounded on learning the concept of pragmatic constructivism (PC), this paper presents a qualitative and interpretative approach conducted in a single case study. The selected company is a multinational, operating in the semiconductor industry. Data were collected by combining different sources such as semi-structured interviews, direct observation, meeting participation and use of archival sources. The results show that the role played by previous learning can provide very useful information for division managers in the company to pick up the best project to include in the portfolio, which meet business strategic priorities. The results provide some practical implications in supporting the decision-making process of division managers on how to choose the best project portfolio, meaning to pick up the right projects to increase the performance of the project portfolio as well as company performance.

ОБГРУНТУВАННЯ ВПЛИВУ СУБ’ЄКТИВНИХ ОЦІНОК СТЕЙКХОЛДЕРІВ НА ВИБІР ПРОЄКТУ СТАЛОГО РОЗВИТКУ ПІДПРИЄМСТВА

The paper provides reasons for considering sustainable development paradigm as the most efficient and effective way for Ukrainian enterprises to achieve goals of post-war revitalization fast. Furthermore, the study substantiates that the sustainable development of enterprises, which is corporate sustainable development uniting corporate social accountability and shared social responsibility, in the conditions of post-war reconstruction of Ukraine can be ensured on the basis of achieving a balance between the interests of stakeholders and the company's ability to implement sustainable development projects. In order to provide corporate sustainable development, the study offers distinguishing three types of stakeholders: those who do economic pressures towards enterprise, those who do social pressure and those who do environmental pressures on corporate management. It is proposed to determine the group common interest of the company's stakeholders, expressed in terms of the benefits they want to receive and the contributions they are ready to make to sustainable development projects, using the method of cluster analysis. It has been proven that the subjective assessments of stakeholders regarding the value of any sustainable development project for them influence the choice of the final project of sustainable development that corresponds to the capabilities of the enterprise. This is due to the property of discreteness of the amounts of benefits and contributions to the projects of sustainable development of the enterprise, with the help of which the group common interest of stakeholders is set. The process of comparing sustainable development projects that represent the interests of stakeholders with projects that meet the company's capabilities is shown, and the scientific and practical task of choosing the final project based on the balance of stakeholders' interests and the company's capabilities is described. The stages of ensuring the sustainable development of the enterprise on the basis of taking into account the interests of stakeholders during the implementation of projects in the social, economic and environmental spheres are analyzed. It is substantiated that it is advisable to solve the task of choosing projects of sustainable development of the enterprise under the influence of subjective assessments of stakeholders using the method of fuzzy sets. Creating fuzzy variables connected to stakeholders’ assessments of endeavors allows managers of enterprises to ensure sustainable development project selection considering stakeholders’ subjective impact factor

Smart City Applications to Promote Citizen Participation in City Management and Governance: A Systematic Review

This systematic review aimed to provide a comprehensive view of (1) the purposes of research studies using smart city infrastructures to promote citizen participation in the cities’ management and governance, (2) the characteristics of the proposed solutions in terms of data sources, data quality, and data security and privacy mechanisms, as well, as strategies to incentivize citizen participation, and (3) the development stages of the applications being reported. An electronic search was conducted combining relevant databases and keywords, and 76 studies were included after a selection process. The results show a current interest in developing applications to promote citizen participation to identify urban problems and contribute to decision-making processes. Most of the included studies considered citizens as agents able to report issues (e.g., issues related to the maintenance of urban infrastructures or the mobility in urban spaces), monitor certain environmental parameters (e.g., air or acoustic pollution), and share opinions (e.g., opinions about the performance of local authorities) to support city management. Moreover, a minority of the included studies developed collaborative applications to involve citizens in decision-making processes in urban planning, the selection of development projects, and deepening democratic values. It is possible to conclude about the existence of significant research related to the topic of this systematic review, but also about the need to deepen mechanisms to guarantee data quality and data security and privacy, to develop strategies to incentivize citizen participation, and to implement robust experimental set-ups to evaluate the impact of the developed applications in daily contexts.

On the issue of selecting the projects for sustainable development of enterprise taking into account interests of stakeholders and the way to solve it

Methods. The study of the problem of selecting projects for sustainable development of an enterprise, taking into account the interests of stakeholders, is based on the theoretical and methodological concepts of sustainable development, stakeholders, project management, rational and irrational behaviour of economic subjects. General scientific methods of research that were used are the method of analysis and synthesis – in the study of corporate sustainable development in the aspect of project management; general and specific – when justifying the specifics of taking into account the interests of stakeholders during the selection of sustainable development projects for an enterprise; cluster analysis – when substantiating the group interest of the company’s stakeholders; discrete analysis – when proving the discreteness property of such indicators as benefits and contributions to projects of corporate sustainable development. Results. The article researches the methodological problem of ensuring the sustainable development of enterprises in the context of the need to achieve global goals of sustainable development for the socio-economic and ecological post-war development of Ukraine and the consolidation of society around the implementation of sustainable development projects. The debatable nature of some aspects of modern mechanisms for ensuring the sustainable development of enterprises is shown. The attitude of scientists to the participation of stakeholders in ensuring the sustainable development of enterprises is analysed. It is substantiated that the sustainable development of enterprises is possible if the interests of stakeholders are taken into account. The problem of choosing projects for the sustainable development of enterprises if the interests of stakeholders are taken into account is described. It is proposed to solve the problem of choosing projects of sustainable development of an enterprise by the method of fuzzy sets, which will allow taking into account the subjective evaluation judgments of stakeholders regarding the amounts of benefits and contributions to projects of corporate sustainable development. Novelty. Based on the generalization of theoretical provisions, the problem is outlined and directions for improving the sustainable development of the enterprise are proposed based on taking into account the interests of stakeholders during the selection of sustainable development projects in order to achieve the global goals of sustainable development at the state level. Practical value. The outlined problem of choosing projects of corporate sustainable development with taking into account the interests of stakeholders and the proposed ways of its solving will allow managers to form more consciously effective management mechanisms for decision-making with the involvement of stakeholders and will condition the achievement of global goals of sustainable development at the state level.

A methodology to assess and select transport infrastructure development projects based on the fuzzy logic approach

Subject. This article analyzes the totality of economic relations and problems within the framework of the spatial development of settlements and subjects of the Russian Federation. Objectives. The article aims to develop a multi-criteria approach to the assessment and selection of transport infrastructure development projects, taking into account the interests of a wide range of subjects, quantitative and qualitative criteria based on the fuzzy logic approach. Methods. For the study, we used the methods of economic analysis, synthesis, comparison, and n-dimensional Euclidean distance. Results. The article reveals internal and external, direct and indirect effects and offers a classification of criteria for assessing infrastructure projects, taking into account the socio-economic and environmental context. The article also presents a methodology for multi-criteria assessment and selection of transport infrastructure development projects, including the calculation of an integral indicator, the consideration of quantitative and qualitative criteria based on the apparatus of fuzzy sets, which allows ranking them and determining the most priority project for implementation. Relevance. The proposed methodological approach to the evaluation of infrastructure projects can be used by executive authorities as a tool to support management decision-making in the framework of a comprehensive assessment of the effectiveness of national and regional transport projects.

The Analytic Hierarchy Process for New Product Screening Decisions

The selection of the most promising new product development projects is one of the most important decisions in a company. This decision affects the cost of failed projects, company’s profitability, and its survival. The selection of new product development projects with the greatest potential requires the evaluation criteria that reflect the adjustment of a new product to customer requirements, company’s strategy, manufacturing, and knowledge management issues. There are specified sub-criteria to identify the impact of a new product on a single area of the company’s activity, for example, on the knowledge management area. The criteria and sub-criteria are evaluated by managers, engineers (including knowledge engineers), and IT specialists, who work in departments such as research and development, sales and marketing, manufacturing, IT, and top management. Company professionals have the most updated information of the ongoing processes related to new product development. This paper is concerned with using the analytic hierarchy process (AHP) methodology to a new product screening problem, paying attention to the knowledge management perspective. So far, this perspective is neglected in the context of the decision problem of new product screening. This research develops the field of knowledge acquisition from experts towards selecting and evaluating criteria related to the potential of a new product. Knowledge acquisition refers to issues related to a new product, customer requirements, and uncertainties of project performance. Using criteria related to various areas of the company’s activity, the decision maker can identify factors significantly impacting performance of new product projects, and compare these projects with each other. Moreover, the AHP approach prioritizes criteria and sub-criteria, and as a result, it can identify areas of the company’s activity that could be improved.

Improving generality and accuracy of existing public development project selection methods: a study on GitHub ecosystem

Improving generality and accuracy of existing public development project selection methods: a study on GitHub ecosystem

ЗАБЕЗПЕЧЕННЯ РЕГІОНАЛЬНОГО РОЗВИТКУ. НАПРЯМИ І СПОСОБИ СТИМУЛЮВАННЯ РОЗВИТКУ РЕГІОНІВ У ВОЄННИЙ ТА ПОВОЄННИЙ ПЕРІОДИ

The article is devoted to the study of certain issues of material and financial support of regional development in Ukraine. The directions and methods of stimulating the development of the regions of Ukraine in the war and post-war periods have been studied. Based on the current legislation, as well as on the scientific works of leading Ukrainian scientists, the directions of state regional policy are highlighted. Based on the set purpose, emphasis is placed on the key principles of such a policy, on those goals and tasks that must be set and fulfilled as a matter of priority. It has been proven that the main role in this is given to the financial and material independence of the united territorial communities and regions of Ukraine. Ways of improving the current normative and legal framework of Ukraine in the context of state regional policy, budget legislation, issues of preparation, assessment and selection of investment programs and regional development projects that can be implemented at the expense of the state regional development fund have been studied. It was emphasized that this is extremely important, especially given the fact that bringing the Ukrainian legal base to a proper state is the key to stable regional development. Emphasis is placed on the need to overcome conflicts between the provisions of the Model provisions on the regional commission for evaluation and preliminary competitive selection of investment programs and regional development projects, which can be implemented at the expense of the state fund for regional development, and the Order of the Ministry of community and territorial development of Ukraine «Issues of preparation, evaluation and the selection of investment programs and regional development projects that can be implemented at the expense of the funds of the state regional development fund». Based on the results of the research, conclusions were drawn. The provisions outlined in the work can be used by Ukrainian scientists in further scientific developments.

RESEARCH AND DEVELOPMENT PROJECT SELECTION: A COMPREHENSIVE ANALYSIS OF THE TRENDS AND METHODS

The purpose of this paper is to present a comprehensive literature review of the research and development (R&D) project selection problem since 1977, using the PRISMA method. This study aims (i) to support researchers and practitioners to understand selection methodologies, decision-maker types, and perspectives; (ii) to guide them in choosing the most suitable project selection method; and (iii) to clarify a common confusion by proposing a more precise definition of ‘ R&D project selection ’ and ‘ R&D portfolio selection ’ . The study also highlights several areas for improvement and the future of project selection techniques for further studies.

An in‐depth study of the effects of methods on the dataset selection of public development projects

Public development projects (PDPs) and documented public development projects (DPDPs) are two types of projects that can provide valuable information on how developers and users participate in OSS projects. However, it is hard for researchers to effectively select PDPs and DPDPs due to the lack of specific project selection methods for these two types of projects. To address this problem, a standard dataset was labelled and the base line methods (i.e. selecting projects according to a single feature like star number) under 60 configurations and the machine learning methods under 18 configurations were tested to identify the best configurations in precision and F-measure for selecting PDPs and DPDPs. The results show that (1) to select PDPs or DPDPs with a high precision, the base line method is the best with precision of 0.877 (PDPs) and 0.831 (DPDPs); (2) to select PDPs or DPDPs with a high F-measure, the machine learning methods are the best, with F-measure of 0.817 (PDPs) and 0.789 (DPDPs); (3) existing sample selection strategies can be combined with the machine learning methods, and the precision of selecting PDPs can be increased by 6.39%–41.33% and the precision of selecting DPDPs can be can be increased by 35.50%–269.02%.

An organizational and economic mechanism for planning the development of systems that are part of the urban utility infrastructure

The systems that comprise the utility infrastructure are a structural element of the housing and utilities sector; they make an essential contribution to the quality of life in municipalities. The development of these systems is particularly relevant now, since the utilities sector is characterized by the high depreciation of fixed assets and the limited profitability of economic activities of organizations in this sector. A combination of the above-mentioned circumstances creates industry-wide problems that hinder the effective operation of public infrastructure systems. The analysis of statistical information has shown that approaches to the development of housing and utility services are insufficient for the renewal and modernization of public infrastructure systems, so there is a practical need to develop innovative approaches to their management. This article focuses on an integrated approach to the development planning of utility systems with regard for the strengths and weaknesses of traditional forecasting tools. Today, the main planning tool is a set of programmes on the integrated development of utility infrastructure systems; however, this tool has a number of disadvantages, including the lack of performance indicators applied to the implemented activities, the predominance of general goal formulations, an unclear relationship between specific projects and programme results, etc. In order to clarify the requirements for the selection of development projects on infrastructure systems, an economic and mathematical model has been designed that allows for the selection of measures based on objective criteria, that will ensure the generation of the most effective programme on the development of utility infrastructure systems in the cities. This economic and mathematical model can be used to develop an organizational and economic planning tool that allows to eliminate the drawbacks of traditional tools.

Implementation of the EU LEADER programme at member-state level: Written and unwritten rules of local project selection in rural Poland

Local Action Groups (LAGs) are multi-sectoral, area-based partnerships operating throughout the European Union to support participatory local development in rural areas. One of the operational elements of the programme is that multi-sectoral partnerships at the local level select and fund local development projects. The aim of this paper is to explore the dynamics of the selection process at the local level, paying attention to both exogenous and endogenous dynamics that originate at both the EU, national and local levels and how these influence the selection and funding of local development projects. We present the results of qualitative case studies conducted of 15 LAGs in rural Poland. Results indicate that centrally prescribed scoring criteria for the selection of projects issued are used, but, in many cases, local unwritten rules favouring territorial distribution of funds according to number of inhabitants and perceived fairness are highly influential on the selection process. We highlight in this context how local criteria shape top-down rules for the operationalisation of LEADER at the local level, illustrating features of mixed exogenous-endogenous development. We discuss how the interplay of local and external decision-making factors ultimately determine the activities of EU-funded development programmes, highlighting benefits of local decision-making in rural development but also signalling that EU procedures are realised to variable extents.

Selection of Regional Sustainable Development Project Using the Method of Multiple-criteria Optimization

The purpose of this article is to reveal the method of multiple-criteria optimization for the selection of regional sustainable development projects. Projects for regional sustainable development in the strategic planning are currently considered as an important instrument sustaining competitiveness and productive capabilities of the European economy and supporting developing areas, as an aim of the Europe 2020 strategy. Methodology. European countries implement national strategies by using the broad methodology of project management for reaching strategic aims. In such a context, it becomes necessary to provide a generalized method of projects' evaluation and their selection by the corresponding committees, proceeding from the best international practices and effective policy guidelines. Thus, the aim of this paper is to provide multiple-criteria method for the selection of the optimal regional development project out of the number of competing alternatives. Results. This paper reveals the decision-making process behind the expert selection of the most competitive project, based on a set of following criteria: social, economic, ecological and budgetary efficiency. Our method is as follows: we are considering all the available components of efficiency through the lens of integral factor. For each component we propose a set of local indicators that describe its degree of efficiency in comparable values. The projects of Dnipropetrovsk regional state administration of Ukraine are considered as main case of this study. To analyze them we use the methodology of multiple-criteria evaluation of regional sustainable development projects. As a result of this process it becomes possible to choose the optimal project for regional development out of wide array of projects being filed by the applicants. Value/originality. Value and originality of the multiple-criteria optimization method is the capability to provide the selection of regional sustainable development project on the base of clear criteria which precludes the possibility of corruption and unfounded decisions being taken by the authorities during the process of the planning the economic activities. As current method of decision-making is based on quantitative assessments of projects’ value, government and local government representatives are guided by a common vision and subjective impressions on the application. The advantages of the proposed method are methodological simplicity, flexibility and universality, which are crucial in the multiple-criteria decision-making in public administration. One of the advantages of this method is that it allows providing a justification for the results and conclusions of the selection process.

Risk-based decision framework based on R-numbers and best-worst method and its application to research and development project selection

Presently, fierce market competition has forced companies to invest in targeted research and development (R&D) projects in order to appropriately allocate resources and achieve promising results. For companies to develop, it is crucial that they incorporate the uncertainty and risk factors inherent in R&D project selection into the decision-making framework to obtain reliable outputs. The R-numbers methodology is an innovative model for analyzing the effects of uncertainty and risk. However, relatively few studies have incorporated R-numbers into decision-making problems, especially when the available data are in the form of pairwise comparisons. Nevertheless, the best–worst method (BWM) is a practical multi-criteria framework with pairwise relations. Thus, this study investigated a novel risk-based decision model called “R-BWM” that extended an additive BWM based on R-numbers. The proposed approach is applied to address the uncertainty and risk in the R&D project selection for a medical device company. The results show the ability of the proposed R-BWM to enhance the performance of the classical BWM through capturing data deviations and providing more robust results.

MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES

Abstract. The article summarizes the arguments and counterarguments within the scientific discussion on the resource management of the State Fund for Regional Development of Ukraine (Fund). The main purpose of the study is to assess the effectiveness of resource management of this Fund from the standpoint of improving the effectiveness of state financial support for regional development in Ukraine. Systematization of literature sources and approaches to solving the problem of effective use of state budget funds to finance regional development goals showed that in general there is a positive assessment of the feasibility of the State Fund for Regional development in Ukraine, but there are significant shortcomings and problems in financing regional development measures. The urgency of solving this scientific problem is that being a significant budgetary resource for the implementation of goals and objectives of regional development, the Fund is not used effectively due to improper management. The study of the peculiarities of the resource management of the State Fund for Regional Development of Ukraine in modern challenges was conducted from the standpoint of assessing compliance with national legislation of budgetary discipline, economic and social feasibility and taking into account the following factors: ensuring full compliance with budget legislation of Ukraine; absence of violations of terms of distribution of means of fund; absence of violations in planning, selection and approval of investment programs and regional development projects; directing the established share of Funds resources to the economic development of the regions; timely and full development of resources at the planned facilities; an effective system of internal control over the effective use of budget funds; based on the results of the study, conclusions were prepared. The methodological tools of the study were the methods of economic and statistical analysis, grouping, comparisons, index analysis and factor analysis. The research period is 2016—2020. The article presents the results of the empirical analysis, which showed that there are systemic problems in the organization of resource management of the State Fund for Regional Development. The study empirically confirms and theoretically proves that it is necessary to update the provisions of Article 241 of the Budget Code of Ukraine to determine the resources of this Fund in the amount of at least one percent of the total fund of the State Budget of Ukraine; the distribution of the fund’s funds should take into account territorial differentiation according to the regional human development index; identification of additional criteria for selection of regional development projects that will ensure the achievement of positive economic changes in the regions; organize an effective system of internal control and internal audit. The results of the study can be useful for use in research and in the activities of state, regional and local governments in terms of taking into account the peculiarities of the management of the State Fund for Regional Development in Ukraine. Keywords: state budget, state fund for regional development, management efficiency, investment programs and projects, regional development, financial support. Formulas: 0; fig.: 1; tabl.: 2; bibl.: 22.