Evaluating the effectiveness of projects of global and national economic significance level

Abstract

© Springer Nature Singapore Pte Ltd. 2020. This work is devoted to the revealing of the methodology essence proposed by the author for evaluating the effectiveness of investment projects of global and national economic significance level. This alternative methodology is fundamentally different from the generally accepted valuation concept of assessment as it is based on the CBA method (cost-benefit analysis) and the “Cash flow” method. The basis of this methodology is taking into consideration non-economic characteristics (parameters, indicators), which is particularly relevant for making an objective decision on the implementation of the estimated project of global and national economic significance level. Previously, existing mathematical models and methods for evaluating the effectiveness and assessing the impact of the project on the external environment (ecology, society, health, cultural traditions, etc.) were studied. Also, there determined the frequency and percentage of certain models using within the base of the studied foreign and Russian sources. Non-economic parameters and accounting cases of their distribution were identified in evaluating the effectiveness of projects in Russian and foreign practice. The author’s alternative methodology is based on the mandatory accounting of the whole complex of developed non-economic parameters (indicators). At the moment, a list of 26 parameters classified into six groups is offered. Parameters are presented in quantitative scales of clear, fuzzy sets and in qualitative scales (points). The descriptive model of the methodology describes a strict sequence of actions in the assessment process. All estimated parameters are translated into a single normalized scale and integrated through the selected mathematical aggregation model into a single generalized parameter (evaluation criterion) of the project.