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The scientific novelty of the study consists in identifying necessary mechanisms for sustainable development of industrial enterprises. Nowadays the industry have set to create balanced growth to solve modern global challenges. It also takes measures to ensure energy security and maintains stable flows of finance and capital with stability of investment activity. The purpose of the study is to determine the formation of mechanisms for the sustainable development of industrial enterprises. Based on the results, a special System of management has been created by redesigning the process of implementing an investment project. Its boundaries can be extended to manage the full life cycle of an investment project from an idea to summarizing the project in terms of its payback and other performance indicators.

The article notes that in the current methodological document approved by government bodies on determining the investment projects effectiveness there are no recommendations for a comparative assessment of the economic efficiency of decisions made in the process of investment and construction activities, and at the same time their necessity is shown. The authors’ approaches to solving this problem are substantiated and presented. It is proposed to use income and property approaches in determining the economic efficiency of investment projects for the creation of new enterprises, industries, reconstruction and technical re-equipment of existing ones. The proposed methods and indicators are presented, which make it possible to give a comparative assessment of both investment projects as a whole and individual decisions on the choice of production technologies, technological and other equipment, design and construction solutions for buildings and structures.

In the conditions of the modern economy, an especially important area of economic activity of any company is its investment activity, which is associated with the investment of certain funds in the implementation of both long-term and medium-term projects. Without increasing in the receipt of financial resources from various sources used for investment, it is impossible to achieve the largescale goals of innovative, technological and information development of the socio-economic sphere in Russia. The purpose of this article is to study the specifics of the management of investment resources of metallurgical and mining companies in the country, as well as the analysis of the composition, structure of their investment resources and sources of their formation. The methods of comparative analysis, a systematic approach to the study of information, graphical methods are used. This article considers the factors affecting the efficiency of investment activities of mining and metallurgical enterprises. The measures for the implementation of the strategy of sustainable development are proposed. The features of the formation of the composition and structure of investment resources of companies in the industry are revealed.

The problems arising in organizations during the process of investment activities have been considered. The results of financing and implementation of projects and programs have been analysed and interpreted consistently. The issues of expediency of using the profitability indicators of the capital or assets of the company, which requires for the project implementation, have been touched upon. Approaches to the possibility of using the project financing mechanism, have been substantiated. Attention has been paid to the positive and negative aspects of the application of project financing for the company investment activities. It has been noted that project financing is usually used in the implementation of large investment projects, which combine the economic interests of the state and private investors. Particular attention has been paid to the issues of project and program management within the digital environment in order to provide a unified information base. The analysis of possible risks when using the project financing mechanism has been provided and the approaches to influencing the emerging risks have been defined. The result of the study was the formation of factors affecting the effectiveness of the project financing mechanism in the implementation of investment projects and programs.

The article discusses the main problems associated with the development and implementation of investment projects at enterprises of the real sector of the economy for sustainable development. The current situation in the investment and construction sector of the economy has been evaluated and the ways of solving the main problems of investment activity in the construction industry are outlined. The issues of formation mechanism of the investment attractiveness of industries and individual organizations, production and investment activities have been consistently considered. Traditional indicators and criteria of investment efficiency have been analysed. The expediency of using indicators of the return on capital or assets of the organization necessary for the implementation of the project has been substantiated. It has been noted that in the process of developing an organization’s sustainable development strategy, it is necessary to take into account its digital transformation, within the framework of the possibility of functioning in a single digital environment in order to increase competitiveness. The applying a comprehensive assessment of the effectiveness of attracting investments for the implementation of investment programs based on the selected criteria, taking into account their functioning in the digital environment, – has been recommended.

Original approach to assessment and evaluation of financial effectiveness of an investment project in state area via the life-cycle cost has been proposed. For long-term and capital-intensive projects, such as the construction of social infrastructure facilities with mixed public-private capital, the cost of the project life cycle, which expresses the material assessment of the costs of participants during the cycle of creation and maintenance of the construction object, is a complete and objective financial assessment of the project results, the effectiveness of which is determined by compliance with the target level. Knowledge of the full life-cycle cost in absolute and relative form, as well as its structure, enables execution of the project in the lowest cost form, thus ensuring the most effective investment decision. An economic and mathematical model for calculating the cost of life cycle costs in base and current prices, as well as an analysis of the factors forming it have been presented in the paper.

The main unresolved issues of choosing the most effective investment projects aimed at introducing innovative technologies have been considered. The traditional indicators of investment efficiency have been analysed. The expediency of using the indicator of the total reduced costs necessary for the implementation of the project has been substantiated. Attention has been paid to the possibilities of public-private partnership in innovation projects. The issues of shares distribution between participants in innovation and investment projects and the use of such objects have been reviewed. The current situation in the investment and construction sector of the economy has been assessed and ways to solve the main problems of investment activity in the construction industry have been outlined. The expediency of creating a mechanism for economic justification of the investment project implementation process, including the creation of reserve funds, has been substantiated. Recommendations for using the indicator of the of the investor’s total stated costs have been given.

The performance of investment projects in acquisitions of companies by private equity funds has been explored by assessing the financial and valuation results of such transactions in two directions: change in the valuation multiple of an acquired company over the period of the investment project and the impact of a fund on a company’s operational efficiency. As a result of the analysis, the hypothesis of the higher EV/EBITDA exit multiple of the private equity fund compared to the same entry multiple was not confirmed. However, the hypothesis that private equity funds are able to increase the operational efficiency of portfolio companies on average better than other types of investors, confirms the effectiveness of private equity funds and high performance of such investment projects.

The classification features of investment proposals are determined. Tasks and procedure of the examination of investment projects are shown. The algorithm of examination of received investment proposals is considered.

The authors substantiate the features of investment projects in research and development; Explore methodological approaches to assessing the effectiveness of investment projects that have evolved in modern domestic and foreign economic science. Additionally identify the advantages and disadvantages of existing methods and substantiate the need for their improvement.

The article offers original approach to evaluation of an investment project from point of forming the final price of a product created in result of the project. Value-added is formed on one side by each participant of the product creation process and on the other side belonging to some of the production factors. Understanding value-added enables deeper analysis of price structure, revealing opportunities for managing pricing. Understanding of the price structure statically and in dynamics allows more flexible define pricing therefore influencing sales, revenue and income. The research presents the scheme and algorithm for pricing structure analysis, which can be performed on the stage of investment project development as well as on any of the execution stages.

The necessity of improving the methods of evaluating innovative projects, tak-ing into account the specifics and uncertainty of the innovative project connected with realization and other risks, were substantiated. Interpretations of the concepts of inno-vation and innovation project were given. The main methods for evaluating innovative projects and the typical shortcomings of existing methods were identified. It was sug-gested to use the method of real options. The improved methodology for evaluating in-novative projects, which will make the assessment more reliable, reduce financial loss-es and have a positive impact on the economy were presented.

The increase in investment attractiveness contributes to the successful development and growth of a commercial enterprise, allowing to function in modern conditions of high competition. The issue of attracting investment for the effective functioning of an enterprise as well as necessary conditions and factors of investment attraction. is discussed in the article. Particular attention is paid to assessment which allows to identifiy the most attractive enterprises for investment. The positive experience of investment attraction on the example of commercial project of management in trade and warehouse accounting is analysed. The review of international and domestic experience concludes that to attract investment a company should adhere to a certain algorithm.

The article deals with to the critical analysis of the internal rate of return, which represents one of the traditional most frequently used indicators of financial effectiveness of investment projects, allowing investors to sense relative yield from investing in a project. Within the analysis the author identifies deficiencies of applying the internal rate of return and offers alternative means of practical evaluation of relative yield from investing in a project based on modelling of an investor’s behavior related to expected schedule of return invested capital.

The critical analysis of the net present value, which represents one of the traditional most frequently used indicators of financial effectiveness of investment projects has been proved. Net present value is also considered as a base for fair value estimate of intangible assets on a company’s balance sheet. Within the analysis the answers to questions of every investor are given: how to correctly assess the net present value, what discount rate is better applied for cash flows and how to estimate the discount rate, whether an investor should immediately reject the project having a negative net present value, how to estimate weighted average cost of capital correctly and others.

In work methods of an investment of financial resources in fixed capital of the domestic enterprise were investigated. Two directions of acquisition of the new equipment are considered: with use of the mechanism of leasing and with attraction of credit resources. By results of the carried-out calculations the conclusion is drawn that under equal financing terms leasing is most favorable as payments for the credit significantly exceed payments on leasing.

The article offers original approach to evaluation of an investment project from point of forming the final price of a product created in result of the project. Value-added is formed on one side by each participant of the product creation process and on the other side belonging to some of the production factors. Understanding value-added enables deeper analysis of price structure, revealing opportunities for managing pricing. Understanding of the price structure statically and in dynamics allows more flexible define pricing therefore influencing sales, revenue and income. The research presents the scheme and algorithm for pricing structure analysis, which can be performed on the stage of investment project development as well as on any of the execution stages.

The authors substantiate the features of investment projects in research and development; Explore methodological approaches to assessing the effectiveness of investment projects that have evolved in modern domestic and foreign economic science. Additionally identify the advantages and disadvantages of existing methods and substantiate the need for their improvement.

The classification features of investment proposals are determined. Tasks and procedure of the examination of investment projects are shown. The algorithm of examination of received investment proposals is considered.

In work methods of an investment of financial resources in fixed capital of the domestic enterprise were investigated. Two directions of acquisition of the new equipment are considered: with use of the mechanism of leasing and with attraction of credit resources. By results of the carried-out calculations the conclusion is drawn that under equal financing terms leasing is most favorable as payments for the credit significantly exceed payments on leasing.