Approaches to analysis of the innovation activity efficiency

Abstract

© 2019 Islamic Azad University. The article dwells on the problems of evaluation of the effectiveness of the innovation activity. The main purpose is identification of the most influential factors indicating the level of the project's efficiency in the sphere of innovation. In his research work the author uses comparative and dynamic analysis methods. The author has analysed the vast foreign and domestic theoretical material and the statistical data on the problem under consideration in order to trace back the evolution of the approaches to analysis of the innovation efficiency and the innovation project efficiency in particular. The author compares the modern practice of the efficiency analysis in the sphere of innovation projects to the common foreign standards and points out the drawbacks of the existing approaches (mostly methodological in nature).The article shows that methodological approach is not sufficient and should be expanded by means of inclusion of the additional complex of significant efficiency indicators. The author of the article comes to conclusion that the evaluation of the efficiency of the innovation projects should be treated as a separate direction in the field of rationale of the project decisions, because the methodology of this evaluation lies outside the conventional methods of the investment analysis. Upon the undertaken comparative analysis, the author suggests his own solutions on the methodological improvement of the existing approaches to efficiency evaluation in this particular sphere. He introduces the methods of analysis which comprise completely new aspects that have not been considered in the precedent investigations of the subject. The article discloses the necessity of differentiation within the methodological approaches to evaluation of the efficiency of innovative and investment projects. The author singles out several specific features of the innovative projects, which are indispensable for the correct and precise evaluation of the innovation projects' efficiency.