Оценка эффективности инвестиционных проектов

УДК 338.2

Иванова А.А., Оценка эффективности инвестиционных проектов

Иванова Арина Аркадьевна

магистрант кафедры прикладной информатики,

Северо-Восточный федеральный университет

РФ, г. Якутск

slmarmont@mail.ru

Ivanova A.A., Assessment of effectiveness of investment projects

undergraduate of department of applied informatics,

North-Еastern Federal University

Russian Federation, Yakutsk

slmarmont@mail.ru

Аннотация. В статье дано понятие инвестиционного проекта, названы основные методы при его оценке. Указаны критерии, которые необходимо учитывать при разработке инвестиционного проекта. Показано как правильно дать оценку эффективности инвестиционных проектов.

Ключевые слова. Инвестиционный проект, анализ издержек, стратегия финансирования, статистические методы оценки, показатели рисков.

Abstract. In article the concept of the investment project is given, the main methods at its assessment are called. Criteria which need to be considered when developing the investment project are specified. It is shown as it is correct to give an assessment to effectiveness of investment projects.

Keywords. Investment project, analysis of costs, strategy of financing, statistical methods of assessment, indexes of risks.

In the conditions of present market economy of the twenty first century relevant tasks of the enterprise are development, reconstruction and engineering changes of production and also introduction of new types of products. They are carried out as a result of development and deployment of investment projects by the enterprise on which the future of the enterprise depends.

The investment project can be presented in the form of plans actions or in the form of the enterprise project for which realization it is required new resources of financial means.

At realization of the considerable proportion of investment projects initial expectations aren't always met that leads to failures or failures of projects. Incorrectly particular project scope, inadequate risk management, inability to define the main assumptions and other same problems [1] are the main reasons of it.

One of problems of assessment of cost efficiency of investments is bound also to difficulties, and sometimes and the utter impossibility of creation of the formalized approaches to assessment of effectiveness of the specific project taking into account all features of the enterprise. It was proved that the minimum level of effectiveness of investment options which suits the investor can be defined as result of formation of the plan of investments. Before scheduling it isn't represented to an opportunity to define all essence of the requirement, the separate investment options shown to effectiveness.

To invest risk in the project in turn has the complex system and its account requires the solution of such tasks as reduction of the alternatives presented at the market in a look, comparable on risk level; formalization of the attitude of the specific investor towards risk; formalization of risk level, the bound to exercise the estimated project. From the above described problems it is possible to draw a conclusion that during development of the investment project, it is necessary to consider such criteria as:

• income from investments which has to be above income from a contribution of funds for a deposit;

• profitability of investments has to be higher than inflation;

• after implementation of the project income from assets, has to be above a credit rate on loan tools;

• also investment project has to answer a master strategic plan of the organization. Conceptual assessment of effectiveness of the investment project consists of several stages:

1) Definition is more whole also than purpose of the investment project. The purpose of the investment project — definition of joint investment and manufacturing costs, determination of appeal of the project from the point of view of investors, definition of a financial condition of the company, assessment of risk of investments and justification of participation in the project of investors and partners.

2) The analysis of costs consists of two groups of actions which are directed to the analysis of investment costs and the analysis of production. This analysis joins calculation and estimating, distribution of finance for project stages and also the comparative analysis of profitability.

3) Assessment of effectiveness of investments consists of two parts. First, calculation of efficiency factors of all project is carried out. Assessment can reflect social consequences of implementation of the project, financial consequences both for federal, and for the regional budget, of course, if they are involved. Secondly, the analysis of effectiveness of participation in the project which includes determination of structure of participants and the choice of the scheme of financing of the project.