Recommendations for evaluating the effectiveness of innovative projects

Innovative projects involve a large amount of resources and time required to implement and achieve the required product parameters. Well-known methods of economic evaluation of the effectiveness of projects can provide an accurate analysis for the first few years, without taking into account all possible factors. Due to the importance of setting the effectiveness assessment as accurately as possible for the implementation of innovative projects, regardless of the duration, the methods currently used are insufficiently developed. The amount of resources required to create an innovative project can reach such levels of indicators, which will significantly affect the financial and economic performance of the enterprise. The proposed new method in the article, based on the calculation of the socio-physical potential of the project, takes into account both economic and non-economic factors, regardless of the duration of the project. Unlike other methods, it takes into account the parameters of the product being created, which allows you to get more correct estimates and ensure the correct allocation of resources during implementation. The method of using socio-physical potential allows us to find a new and more accurate approach to evaluating the effectiveness of innovative projects. The purpose of the study. The paper considers the issue of comparing the evaluation of the effectiveness of calculations using socio-physical potentials and existing approaches. It is stated that the effectiveness assessment should take into account diverse factors of a qualitative and quantitative nature. Based on the analysis of existing approaches, it is concluded that the reliability of the assessment is low. The inability to evaluate correctly leads to excessive costs that accompany the processes of product development and operation.