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Agroindustrial projects developed by agroindustrial collective actions play a relevant social and economic role. However, cases of failure are frequent. This work proposes a model for the evaluation and selection of projects developed by cooperatives and rural associations, considering their particularities. The method is based on a conceptual framework developed after a literature review, later validated by a panel of experts. The model was applied to six real projects located in the State of São Paulo, Brazil. The results confirmed the technical feasibility of applying the method, allowing an ex ante and accurate prediction of which projects would have the greatest chance of success. [ABSTRACT FROM AUTHOR]

Introduction. The review of existing ideas of artificial intelligence implementation in the construction industry is carried out. On the basis of the studied data the applicability of the technologies was analyzed and their economic efficiency was evaluated, as well as the feasibility of investment in potential projects was substantiated. Construction is a fundamental area of human life, in which the use of information technology innovations, especially artificial intelligence should be associated with a balanced decision and thorough testing. For this reason, it is required to choose the most appropriate method to evaluate the feasibility of implementation. By the chosen method it is possible to reveal the possibilities of a new project and to correlate it with all costs and risks.Materials and methods. Russian and foreign studies, Internet resources and conference materials were studied. As a result, the current trends of technologies of artificial intelligence application in construction were found. The integrated method allowed to consider technologies from the point of view of ideology, reality of embodiment, practical application and economic feasibility. The method of scoring of projects was applied and the list of technologies was compiled. This list includes technologies that are favourable for application and promising for development. Multilevel study of the selected projects was carried out according to the system modelling approach.Results. Based on the results of the study, conclusions are made about the best method for assessing the economic efficiency of innovative projects based on artificial intelligence, which are applicable to the construction industry. The theoretical model is aimed at considering the project as a process of cause-and-effect relationships. This project reveals the list of necessary steps and their sequence.Conclusions. This study on the effectiveness of the implementation of AI in construction of some ideas revealed an optimal and sufficiently informative method of assessing the economic efficiency of projects, as well as the degree of relevance and compliance with the interests and needs of the construction industry. A list of recommendations for the process of implementation of a new project with the use of artificial intelligence is presented. A vector for further research in the field of practical calculations of efficiency and forecasting is proposed.

The article deals with practical aspects of using content-marketing to improve social and economic appeal and complex development of non-urbanized territories in Russia. The author showed that the process of business climate development on territories with low population density is a whole complex of measures. In practice they are connected with target positioning of each region and spot lighting of its concrete benefits for potential partners and economically active people, who would like to swap their megalopolis for more placid life and realize themselves beyond big cities. It was shown that content-marketing can serve as a universal tool for resolving problems of regional development in Russia. It is based on approaches of step-by-step bringing the target audience to decisionmaking about buying goods, services or taking part in an investment project. In case of Russian regions it means a decision to invest in the region, set up highly-technological enterprises or business connected with agriculture. At the same time entrepreneurs could get an additional incentive for realizing their ideas in the form of state support with a broad range of tax privileges and subsidies and as maximum – availability of a preferential zone in the region, where state is interested in creating jobs and intensive development of a concrete territory. It was underlined that in Russia preferential zones are mainly arranged on non-urbanized territories far from big cities and agglomerations. The article provided examples of content-marketing functioning in promotion of existing highlytechnological enterprises and business-projects being developed now in every region of the country. The use of successful experience in developing regions was studied also on less successful territories, which require operative alterations in their positioning. A conclusion was drawn that high-quality positioning of the region is a secure investment in its development and a universal tool for sustainable development of non-urbanized territories in Russia.

The purpose of the study is to assess the effectiveness of public-private partnership (PPP) projects during the COVID-19 pandemic, taking into account the specificities of the industry. The empirical research base included the main characteristics (contract price, federal district of the project, customer, general contractor, project start period, project start year, project deadlines, price reduction during project implementation, application security, contract security and type of activity) of 144 regional investment projects. The research methodology included mathematical modeling using the DEA (Data Envelopment Analysis) data convolution method, on the basis of which an efficiency index was assigned to each PPP project from 0 to 1. The study concluded that prior to the COVID-19 pandemic, regional investment projects received more funding; after the start of the COVID-19 pandemic, the implementation time of regional investment projects has increased, the contract value more often changes downwards during the project implementation; and the average support for a project application has increased. The efficiency of implementation of regional investment projects, calculated using the DEA method, was reduced. The results obtained will be useful to private investors and government authorities when implementing joint projects to improve their efficiency.

The article analyzes the existing approaches to making optimal investment decisions from the point of view of solving the "risk-income" contradiction. Both such characteristics of the investment project as its efficiency (income) and risk are equally important for making investment decisions, they should be considered simultaneously and influence the decision made by the investor. The most well-known theories and approaches to solving the «risk-income" contradiction based on probabilistic characteristics and considering the investor's attitude to risk are analyzed. Recommendations on selecting indicators by which the risks of investment projects should be assessed are provided. It is explained in the article how exactly to use those indicators when approving investment projects in conditions of high uncertainty. It is noted that the investor's attitude to risk is one of the main factors in the decision-making process. It is considered in the article how to build and use “indifference” curves, and how to find the most effective projects from the point of view of solving the "risk-income" contradiction. To make the right investment decision, only knowing the profitability and risk of the evaluated projects is not enough. It is necessary to consider all qualitative factors that can affect the project's usefulness for the investor and make a choice according to the priorities of these factors. Recommendations are provided on making decisions that allow the investor to achieve the most “useful” result. It is noted that in each specific case, the optimal solution will be a compromise not only between the income and risk of the projects, but also between all the qualitative advantages and disadvantages of the projects under consideration, and this compromise solution is designed to ensure the maximum "usefulness" for the investor.

The article analyzes the development of high-tech sectors of the Russian economy in the context of import substitution. Features of managing priority project portfolios are considered. Issues of creating a unified information space for aviation industry enterprises are studied in the context of introduction of a modified OLAP technology of management decision support. Investment attractiveness of high-tech sectors of the Russian economy is estimated based on the coefficient of gross value added of project products. Investment-overheated industries are identified, and recommendations on market correction and returning project assets to a balanced state are given. [ABSTRACT FROM AUTHOR]

The article analyzes different approaches to estimating risk of declining efficiency of investment projects that are recommended to practical use by academic literature. The author pointed to their subjectivity and high uncertainty of results. As an alternative we can consider approaches and methods of estimating risk of declining efficiency of the investment project as a difference between the expected by the project and risky values of its NPV defined by the law of this figure distribution. In this case the risky NPV assessment depending on the ratio to risk is either its average value in the field of existence limited from above by expected in the project value or any quantile located in the field of possible NPV values. The article presents substantiation of the standard law of NPV distribution as a complicated random value formed by a sum of random variables, i.e. features of finances flows by the project and discount. The author also analyses the approach to estimating dispersion of the NPV distribution law and risky values depending on its amount based on this figure expansion into the Tailor series with initial data showing average values and dispersion of its finance flows and discount.

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Improved approaches to the assessment of investment projects are required because of their growing diversity and significance in different sectors. The proposed integral approach permits ranking of investment projects in terms of priority and consistency with the organization's strategic goals. The steps in project assessment are outlined, and a hierarchical system of indices is proposed. The need for comprehensive assessment of projects in terms of economic, market, social, and environmental factors is established. Testing the integral approach for a specific investment project shows that it is applicable in practice. [ABSTRACT FROM AUTHOR]

The article characterizes the essence and role of the investment attractiveness of Ukraine's economy in wartime conditions, determines the factors determining the country's investment attractiveness and factors that affect it during martial law, and proves the need to develop strategies for attracting investments in conditions of instability. The dynamics of investment flows in Ukraine during the last twenty years were considered and the negative impact of the conflict in the east of the country on investment activity was indicated, the main investor countries and sectors where foreign investments were directed were identified. The components of Ukraine's investment attractiveness index were analyzed and its negative dynamics were noted. The main problems of the investment attractiveness of Ukraine's economy are singled out, in particular, military actions on the territory of Ukraine, significant damage to the energy system, infrastructure, and production capacities of enterprises; imprudence of investment cooperation; instability and opacity of state legislation; high level of corruption; imperfection of tax policy; weak judicial system; the impossibility of forecasting the development of the national economy even in the medium term. The need for active cooperation with the media and stakeholders, as well as the use of communication capabilities of leaders and influential personalities at the international level to attract and interest investors, is indicated. Attention was focused on the investment opportunities of the regions and the industries with the greatest investment potential were identified. Vectors of increasing the investment potential of Ukraine in the post-war period are proposed, such as supporting industries that will contribute to the restoration of destroyed production capacities (construction, energy, agro-processing, logistics, IT, etc.); active development of the military and defense industry; introduction of benefits for the affected business; introduction of state insurance of foreign investments to reduce the risk for foreign partners; increasing informational support for investors; reforming the judicial system; development of industrial parks; diversification of mechanisms for attracting investment funds to the country, in particular support by business angels, attracting venture and strategic investors, crowdfunding, etc. [ABSTRACT FROM AUTHOR]

Construction companies are legal entities that carry out construction for their own account with their own or borrowed funds or for someone else's account in the capacity of his contractor/subcontractor. For the purposes of this article, only companies that carry out construction activities for their own account will be considered, and the scope of construction may also include the possibility for the companies to subcontract the performance of certain types of specific construction and assembly works or of parts (stages) from the construction. The emphasis is given on the method of financing investment projects in the process of their current implementation and their current placement on the real estate market, by which means companies realize the required incoming cash flows in a sufficient amount in order to secure the costs of the implementation of the investment projects themselves. [ABSTRACT FROM AUTHOR]

To restore the economy of Ukraine in the post-war period, it is expedient to work out applicable communication tools with investors. With respect to the global market, there is a noticeable trend towards an increase in impact investments in 2016-2022 by $ 1,050 billion or in other words, 10.21 times. The rapid growth of impact investing at the global level testifies to the significance of investments aimed at achieving the provisions of the concept of sustainable development. The purpose of the study is to elaborate theoretical and practical provisions for information support of impact investing in order to attract financial resources to restore the economic activity of business entities in the post-war period in compliance with the sustainable development guidelines. Having conducted a study of the published non-financial reporting of large and medium-sized industrial enterprises of Ukraine, it was found that only 22.7% thereof prepare a Sustainable Development Report annually. With respect to the selected enterprises group, 91% prepare a management report in an arbitrary form and publish it on their official website. Having conducted a study of published nonfinancial reporting of large and medium-sized industrial enterprises in Ukraine, it turned out that only 22.7% of them annually prepare a Sustainable Development Report. In the selected group of enterprises, 91% prepare a management report in any form and publish it on their official website. However, given the arbitrary form of information presentation, investors cannot fully obtain up-to-date information about the company’s social policy and environmental activities. In addition, the formation of reporting on issues of sustainable development and social responsibility has not yet become widespread among Ukrainian enterprises, which hinders the development of impact investing in Ukraine. Especially with regard to increasing the investment attractiveness of Ukrainian enterprises, the structure has been clarified and meaningful recommendations have been developed regarding the information content of the Management Report, which will contribute to increasing the transparency of reporting and attract influential investors.

Investment projects in Cuban industry present problems because they are not developed with the required quality. This paper aims to propose a methodology for carrying out investment projects as a process of technology transfer and assimilation. A compendium of various ways of carrying out investment projects is made, the current state of Cuban investments and their main difficulties are analyzed, and foreign investment, which is the main current form of investment in Cuba. A methodological proposal is developed for carrying out investment projects that includes a series of detailed steps on how investments should be made in Cuba. The main variables of an investment project are analyzed: feasibility, risk analysis and commissioning, in addition to the need to prioritize maintenance as the main thing within the investment project. [ABSTRACT FROM AUTHOR]

To restore the economy of Ukraine in the post-war period, it is expedient to work out applicable communication tools with investors. With respect to the global market, there is a noticeable trend towards an increase in impact investments in 2016-2022 by $ 1,050 billion or in other words, 10.21 times. The rapid growth of impact investing at the global level testifies to the significance of investments aimed at achieving the provisions of the concept of sustainable development. The purpose of the study is to elaborate theoretical and practical provisions for information support of impact investing in order to attract financial resources to restore the economic activity of business entities in the post-war period in compliance with the sustainable development guidelines. Having conducted a study of the published non-financial reporting of large and medium-sized industrial enterprises of Ukraine, it was found that only 22.7% thereof prepare a Sustainable Development Report annually. With respect to the selected enterprises group, 91% prepare a management report in an arbitrary form and publish it on their official website. Having conducted a study of published nonfinancial reporting of large and medium-sized industrial enterprises in Ukraine, it turned out that only 22.7% of them annually prepare a Sustainable Development Report. In the selected group of enterprises, 91% prepare a management report in any form and publish it on their official website. However, given the arbitrary form of information presentation, investors cannot fully obtain up-to-date information about the company’s social policy and environmental activities. In addition, the formation of reporting on issues of sustainable development and social responsibility has not yet become widespread among Ukrainian enterprises, which hinders the development of impact investing in Ukraine.Especially with regard to increasing the investment attractiveness of Ukrainian enterprises, the structure has been clarified and meaningful recommendations have been developed regarding the information content of the Management Report, which will contribute to increasing the transparency of reporting and attract influential investors. [ABSTRACT FROM AUTHOR]

Multiple studies are devoted to problems of construction labour productivity and methods of increasing it. These studies contain systematized factors and the main measures that can be applied to influence them. However, the issues of reducingdowntime in design and construction by integrating Lean manufacturing tools and innovative digital technologies to increase construction labour productivity have not yet been actively studied. This paper examines the quantitative assessment of the impact of tools for Lean construction and the digitalization of business processes on labour productivity when implementing investment projects in development and changes in the effectiveness of projects. The conducted study contains an extensive review of the literature, identifies time losses as an important labour productivity factor, proposes a practical approach to the implementation of Lean 4.0 technology in the activities of a development company, and provides practical calculations of labour productivity for the existing project. Expert and calculated evidence of the positive impact of Lean 4.0 on labour productivity and performance parameters of construction projects are presented here. The effects of the introduction of tools and principles of Lean-digital technologies for construction project participants, as well as recommendations for the implementation of the proposed approach in construction practice, are discussed. [ABSTRACT FROM AUTHOR]

Introduction. For any construction organization (both for the contractor and the developer), it is important to have an idea of a degree of stability of their work. But for today there is no universal method for identifying such factors and determining the degree of their significance. The purpose of the study was to develop a method for diagnosing factors affecting the stability of the work of construction organizations.Materials and methods. The methodological basis of the work was the general scientific principles and methods of research both empirical methods (experiment and expert evaluation) and theoretical (analysis and synthesis, ascent from the abstract to the concrete, systematization). Risk factors and uncertainties are separated from each other by the criterion of the presence or absence of probability of the occurrence of an event. It follows that risks can be minimized, but uncertainty can only be removed, since it is impossible to minimize something whose magnitude is unknown. The groups of risks affecting the stability of the construction organization, as well as some groups of uncertainties that may affect the construction are identified. An expert assessment of risk factors and uncertainty affecting the stability of the construction organization was carried out, as a result of which diagnostics and analysis of internal and external threat factors affecting the progress of construction were carried out.Results. A model for diagnosing risk factors and uncertainty in modern construction is proposed. Risks and uncertainties are ranked according to the level of their danger for the activities of a construction organization and, in general, for the implementation of an investment construction project. The obtained results of risk ranking help to make management decisions aimed at minimizing the most dangerous risks. For example, to plan the acquisition (leasing) of new equipment, to develop additional measures of social incentives for employees, to check the existing logistics chains, to strengthen financial management, etc. Recommendations are also given for removing uncertainties in the course of the work of a construction organization.Discussion and conclusions. The developed method of diagnosing uncertainty and risk factors can be used by both construction contractors and developers. Moreover, large developers and investors can use it not only in the work of their organization, but also to assess uncertainty and risk in general investment and construction activities. In the future, it is possible to study risk-forming factors, to take into account their mutual influence and the degree of controllability (manageability), to identify those factors that require special attention, as well as to develop a general program for managing risks and uncertainty of an investment project.

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 purpose of the work is to assess the consequences of the industrial development of the territories of traditional nature management of the indigenous peoples of the North. In order to achieve the goal, the investment projects planned on the territory of the Arctic and considered in the ethnological expertise of the Yakutia are analyzed. The structure of the Yakutia economy is dominated by the mining industry. The Arctic and northern territories of Yakutia are characterized by high vulnerability to technogenic impacts. In 2012–2021, 39 investment business projects were considered in the republic’s ethnological expertise, including 12 ones in the Arctic and northern regions. In order to improve the health and quality of life of indigenous peoples in the areas of industrial development, it is necessary to conclude a trilateral Co-operation Agreement between the project customer, state authorities and authorized representatives of indigenous peoples. In order to monitor the quality of life of indigenous peoples, it is necessary to adopt the Program of ethno-ecological monitoring in the territories of traditional nature management. The study was carried out using historical-geographical, analytical, synthetic, statistical methods. The results of the work can be applied by specialists of state structures, scientists, students.

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.

Businesses must find a balance between productivity and product quality due to the industrial landscape's changing expectations and growing complexity. The manufacturing of cement at Company X, a well-known cement company in Indonesia, depends on four main raw ingredients, with clay playing a critical role in the raw mix. According to recent statistics, clay's Al2O3 composition has decreased to about 18%, which means that clay capacity needs to be adjusted in order to maintain quality requirements. A comprehensive technical evaluation of plant revealed that 17 critical machines exhibited mechanical availability below 70%, and utility analysis confirmed a shortage in meeting the required clay tonnage. This analysis identified the machines in need of retrofitting. The procurement of these vital upgrades required a substantial investment of Rp28,556,784,462.84. Additionally, the operational costs following retrofitting amounted to Rp2,087,333,957 in the first year. However, these investments translated into a significant profit of Rp11,674,480,782 in the inaugural year of operation. Critical feasibility parameters further support the viability of this project. The Net Present Value (NPV) stands at Rp252,784,069,179.53, while the Internal Rate of Return (IRR) demonstrates a robust 74.64%. The Payback Period (PP) is swift, with a mere 2.02 years required to recoup the initial investment. The Profitability Index (PI) records a substantial 8.85. These findings, derived from a comprehensive analysis, unequivocally affirm the feasibility and potential benefits of the planned investment for retrofitting production machinery at a cement company plant.

The article considers adaptation of the economy to the conditions of carbon neutrality, analyzes modern approaches to assessing efficiency of investment projects, and proposes a modification of the discounted cash flow method with adjustments for a carbon tax and pollution charges. The approach is tested on the example of PAO Rosneft. The forecast shows that investments in green energy allow reaching expected profitability levels only in the last year of project implementation. [ABSTRACT FROM AUTHOR]

The study in the article aims to improve the methodology for calculating the price of an option agreement. The subject is calculating the price of the option agreement for a real option with the right to sell/purchase. The hypothesis is that using a more objective calculation formula will increase the efficiency of making the corporation’s strategic investment and management decisions. The method of mathematical modelling is used to refine the methodology for calculating the price of an option agreement within the framework of the ways of real options and discounting cash flows. The article justifies and clarifies the calculation formulas for the price of an option agreement for a real option with the right to sell/purchase. It has been shown that an objective assessment of the value of this option is a powerful tool for making a strategic investment decision. The article’s novelty is the combination of the practice of hedging standards for transactions and methods of real options and discounting cash flows when developing a model for calculating the price of an agreement. The application of a more objective pricing formula for an options contract, limited to the specified project profitability index, confirms the hypothesis. A more objective assessment of the effectiveness of projects with the application of real options is a competitive advantage of the corporation due to the ability to benefit further from risk and uncertainty. The direction of future research is the formalization of the option pricing model for calculating net assets.

The article justified the feasibility of an investment project by analysing the performance indicators while taking into account risk and uncertainty of the use of information technologies. The impact of the above calculations of the investment project results is due to the fact that the evaluation of the investment performance depends on the projected cash flows. The purpose of the article is to assess the impact of risks on making investment decisions using information technologies in order to increase the financial security of enterprises. Methodological and practical aspects of risk modelling of the investment project were further developed, using the Monte Carlo method, which allows to construct a model by minimizing data, as well as to maximize the value of data used in the model. This model involves the use of probability theory and random number tables. The results show the distribution of probabilities of the successful project variable and the coefficient of variation of the performance indicator, allowing the investor to take uncertainty into account when making a decision.

The cost of capital and the discount rate calculated on its basis are the key parameters in the financial modelling and assessment of investment projects’ economic efficiency. Therefore, the method for their evaluation is always a relevant issue for economists and financiers all over the globe. In conditions of unprecedent sanctions pressure this problem has gained special significance for Russian investors, for whom the assets denominated in ‘unfriendly’ currencies have ceased to be risk-free. The study aims to develop an algorithm for evaluating the cost of capital and calculating the discount rate based on ruble-denominated risk-free assets and Russian financial statistics. The methodological basis of the research is the theories of corporate finance and investment project design, as well as the portfolio theory. The statistics of the Russian stock market for 2003–2022 are studied using general scientific (systems analysis and synthesis) and econometric methods, as well as by adopting the Capital Asset Pricing Model (CAPM) and weighted average cost of capital (WACC). The paper suggests and tests a step-by-step algorithm for collecting and processing the Russian financial statistics to calculate the cost of capital and risk premiums to it. The findings prove that unsystematic risks should be assessed separately, rather than within the weighted average cost of capital, as well as propose a determined mechanism for this. The developed method allows avoiding the prohibitively high values of the cost of capital that arise during the use of foreign sources of information.

This study analyzed the sustainable economic development of some organizations for the period of 2020–2022. The authors found that organizations' sustainable development is influenced by technological superiority based on the creation and production of radical new products that can form new markets or be dominant in existing ones. This study examined effective management based on the application of digital technology and artificial intelligence for the creation and production of radically new products, which creates conditions for the advanced sustainable economic development of the organization. The main drivers of these processes are technological platforms, the formation of which requires significant amounts of different types of resources. To solve the issue of investment in the creation of radically new products in conditions of limited resources, the authors researched and developed tools for the effective use of investment in the creation of radically new products in order to ensure the formation of organizations of advanced, sustainable economic development. In the development of methodological tools for managing the creation and development of radically new products, a conceptual mathematical model for assessing the criteria of economic efficiency of projects is proposed. Thus, the proposed tools for managing the creation of radically new products and advanced sustainable economic development of organizations form the basis for technological superiority and sustainable economic development in modern economic conditions. [ABSTRACT FROM AUTHOR]

In impact investing, impact risk encompasses the probability that investment projects may fail to achieve the expected positive impact (i.e., positive impact risk) and/or may have a negative impact (i.e., negative impact risk). Using an inductive research approach, this study examines how impact investing organizations adopt control mechanisms to manage impact risk. It finds that impact investors adopt a wide range of input, behavior, and output control mechanisms to manage impact risk that may arise from investee-level, investor-level, and system-level operations. Also, to manage impact risk, investors establish control mechanisms to influence relevant actors not only within a firm's boundary but also outside its boundary. Given the inherent complexity and ambiguity in managing impact risk in impact investing, control mechanisms appear to rely heavily on judgment and experience and adhere more to the "satisficing" principle. Furthermore, investors tend to focus more on managing positive impact risk than negative impact risk. [ABSTRACT FROM AUTHOR]

Theoretical and applied aspects of scenario analysis of investment projects of enterprises in the mineral resource sector of the economy are considered, its advantages and disadvantages are analyzed. Taking into account the organizational and economic features of mineral resources management, a number of new modifications of the scenario analysis method, aimed at solving an urgent problem - reducing the information uncertainty in assessing the expected efficiency and risk of investment projects, are proposed. The peculiarity of the proposed new modifications is the use of the interval-probabilistic approach in the implementation of the scenario analysis procedure. This approach is based on a moderately pessimistic system of preferences in obtaining point values of the investment project initial parameters. Fishburn estimates and the hierarchy analysis method were used to reduce subjective uncertainty. The maximum likelihood values in the sense of the maximum a priori probability are used as expected estimates. An additional indicator of risk assessment, which characterizes the probability of the event that the net present value of the project will take a value less than the specified one, is proposed. When analyzing one project, this indicator is more informative than the standard deviation. A statistical hypothesis was tested on the improvement of the validity of investment decisions developed using the modified scenario analysis method compared to the standard method.

Investment is a very complex and complex process, which includes a number of sub-processes, phases and individual activities. It contains two very important and interconnected dimensions - time and uncertainty. The time period from the appearance of the idea of the need to invest to the realization of the investment is usually very long. The next step is the preparation for the realization of the investment, followed by the realization of the investment and finally the preparation of the production. A special group consisting of investment projects focused on the construction and equipping of facilities of various purposes are the subject of this paper.

This paper assesses the effects of the investment shock to the fuel and energy sectors of the Far East within the framework of the Eastern vector of Russia’s energy policy. We systemize the basic investment projects implemented in these sectors in order to increase export supplies of fuel and energy resources to the Asia-Pacific countries and assess the shifts in the structure of fuel and energy resources production in the region over the period from 2012 to 2019. In calculations, we use the classical and spatial versions of the method of structural decomposition of the growth rates of the sectoral indicators (shift-share analysis). On the basis of structural decomposition of the changes on the average annual number of employees and the GVA of the fuel and energy complex of the Far East at different spatial levels (national, macroregional (interregional) and regional) we draw the following conclusions: a strong impulse for development in the framework of the Eastern vector of Russia’s energy policy was given to extractive industries, their competitive effects were positive and overrode the negative shocks, which were destabilizing the national economy; an important factor in the economic dynamics of the extractive industries of the fuel and energy complex were gains/losses in inter-regional competition, but not spatial externalities; in the oil and gas industry, unlike in the coal industry, there is potential for formation of spatial externalities; developing faster than others, extractive industries remain enclaves in regional economies

The efficiency of domestic and export supplies of natural gas largely determines the sustainable development of the Russian economy and national security. At present, in the context of sanction restrictions and increasing uncertainty in the global energy market, the theoretical and practical aspects of the economic efficiency of investment projects in the gas industry are of fundamental importance and require further development. The article discusses the theoretical foundations of the category “economic efficiency” and methodological approaches to its assessment on the example of investment projects in the gas industry. A comparative analysis of the standard methodology for determining economic efficiency of capital investments and the methodological recommendations for evaluating the effectiveness of investment projects in the planned and market economics has been performed based on the criteria specified by the authors. A review of published studies on methods for assessing economic efficiency of investment projects in the oil and gas sector has been performed. It is concluded that to assess the efficiency of investments is proposed to use the discounted cash flow method as the main approach, as well as the alternative methods in the papers of Russian authors. Two large-scale projects of the Russian gas industry have been considered, a review of published studies on the efficiency assessment has been performed with emphasis on the external effects due to implementation of the projects under consideration. According to the study results, the uniqueness of the implementation conditions of each gas transportation project, fundamental importance of the influence of non-economic factors on the project implementation and the need to develop assessment methods for the economic efficiency of investment projects were noted with due regard to the uncertainty and risk impact.

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.

Objective: to develop criteria for objective and comprehensive assessment of the success of public-private partnership (PPP) projects.Methods: in the process of the research, the method of systematic literature review was used.Results: as a result of the study, it was concluded that the success of a PPP project is a relative concept and requires detailing (1) from the viewpoint of which particular stakeholder the project is evaluated and (2) relative to which stage of the project life cycle the assessment is made. This understanding allowed proposing a universal approach to assessing the success of PPP projects, based on the criteria assessment matrix developed by us, which takes into account the stages of the project life cycle and the interests of its stakeholders.Scientific novelty: the systematization of studies available in the Russian and world literature concerning the assessment of the success of both investment projects in general and PPP projects in particular allowed identifying a universal set of criteria for such an assessment. This, in turn, contributes to a more adequate and clear interpretation of the conclusions made by a wide range of authors of research in the field of PPP, who quite often refer to “successful” PPP projects, without giving their own understanding of the criteria for determining success.Practical significance: the developed criteria matrix for assessing the success of PPP projects can become a starting point for improving methodological approaches and normative-legal documents regulating the implementation of PPP projects at the federal and regional levels. Regional and municipal executive authorities planning the implementation of new PPP projects can use the proposed matrix for assessing the success of PPP projects in their work in order, on the one hand, to increase the investment attractiveness of the projects being developed, and on the other hand, to ensure better and objective control over their further implementation.