scholarly journals ASSESSMENT OF THE STRATEGIC EFFICIENCY OF LARGE-SCALE INFRASTRUCTURE PROJECTS IN A SITUATION OF UNCERTAINTY: A PROJECT APPROACH

2021 ◽  
Vol 21 (3) ◽  
pp. 113-122
Author(s):  
Ya.D. Gelrud ◽  
◽  
E.B. Kibalov ◽  
Keyword(s):  
Large Scale ◽  
System Analysis ◽  
Negative Impact ◽  
Evaluation Model ◽  
Target Function ◽  
Investment Project ◽  
Investment Projects ◽  
Structural Evaluation ◽  
Macroeconomic Efficiency ◽  
Complex Project

The article deals with the problems of assessing the macroeconomic efficiency of large-scale projects at the stage that is commonly called pre-investment. The necessity of taking into account the factor of radical uncertainty when evaluating large-scale railway projects is justified. The pur-pose of the study. To show that the effects generated by large-scale projects affect the scenario of the development of the economy hosting the project. In this problematic situation, a methodology is proposed for evaluating and identifying the most preferable project, taking into account the factors of radical (improbability) uncertainty. Materials and methods. The criteria for evaluating projects at three levels are analyzed: macro-, meso- and micro; at the same time, the tools of applied non-system analysis are used, combining logical-heuristic and economic-mathematical models of mak-ing complex project decisions. Results. A structural evaluation model has been developed, which is a hybrid consisting of two blocks. The first block is a logical-heuristic submodel for evaluating large-scale investment projects, the second block is an economic-mathematical submodel that displays the external environment of projects. The models interact at the pre-investment stage of the project lifecycle in the mode of a strategic game at the macro level. The first as an information base is based on expert estimates of the costs and results of projects that claim to be implemented in the long term, the second-mainly on statistical information from the country and regions. The im-pact of a new large-scale investment project on the model of the Russian economy is evaluated and the positive or negative impact of each (from among the considered ones) on the target function of the economic model is identified. Conclusion. The article comments on the results of experimental calculations using a hybrid model and, using the example of railway transport, formulates recom-mendations for its use in the development of substantiating materials for large-scale projects of fe-deral significance.

scholarly journals VALUE-SENSE MANAGEMENT

2021 ◽  
Vol 6 (1(82)) ◽  
pp. 38-43
Author(s):  
A. Kurbatov ◽  
L. Kurbatova
Keyword(s):  
Economic Crisis ◽  
Large Scale ◽  
System Analysis ◽  
Negative Impact ◽  
Political Reality ◽  
The World ◽  
Sufficient Degree ◽  
Modern Economic ◽  
The Subject ◽  
Scientific Practical

The greatest crisis, which is being experienced by the world economy, has not come unexpectedly, since it was predicted with a sufficient degree of precision. Moreover, the matters, causing obstacles for the transformation in the period of transition from the mixed economy to the intellectual economy, have been studied well enough and the technologies of the harmonious transformation have not just been developed but also successfully approbated. However, the crisis is escalating with increasing strength, and many analysts are warning against the risk of irreversible losses, that threaten the mankind with self-destruction due to the effect of 'the lacuna' and 'the gap' between the speed of changes in life conditions and the velocity of growth of human and humanity abilities to adapt to fast changing conditions of ecological, economic, technological and political reality. As anticipated, the main problem turned out to be the intellectual inertia. Despite the fact that the system analysis of the global crisis in education, which does not any longer provide the human and humanity with the proper competencies, even those necessary for the survival, was published by F.G.Coobles back in 1968, the approaches which are long outdated and, therefore, have become dangerous, are still widely spread all over the world. The reports of the Roman club have repeatedly highlighted that the overcoming of 'the lacuna' effect requires new approaches to education, but this has not led to large scale practical results, in spite of the fact, that the task of the development of the new system of the continuous anti-crisis education (for all ages) was accomplished back in the USSR and the experimental model proved to be efficient in process of the 20 years approbation in conditions of the Russian Federation. The psychological bareers arising during the transition from the programme goal method to the system-synergetic approach, from the crisis model of economy to value-sense one, from the subject-object relations to the subject-subject ones and others, have turned to be hard to overcome without the help of specialists, equipped with the methods of the value-sense management, which enable each subject, experiencing the negative impact of the modern economic crisis, to successfully overcome it. This article is dedicated to the peculiarities of the author's scientific-practical school of the value-sense management as a means of overcoming the modern economic crisis. 

scholarly journals Investment activity at the objects of specially protected natural territories of the Tyumen region

2020 ◽  
Vol 157 ◽  
pp. 03003
Author(s):  
Olga Bogdanova
Keyword(s):  
System Analysis ◽  
Investment Project ◽  
Performance Criteria ◽  
Investment Activity ◽  
Object A ◽  
Investment Projects ◽  
Protected Natural Area ◽  
Observation Method ◽  
Ecological Tourism ◽  
Specially Protected Natural Territories

This article discusses the possibilities of investment activities on the territories of objects of specially protected natural territories. The analysis of existing objects with identification of possible types of business activity within the current legislation is carried out. The purpose of this study was to determine the main directions of development of investment activity in territories of especially protected natural objects, and to offer basic stages of the evaluation presents the calculation of key performance criteria as a result of implementation of investment projects of ecological tourism. Criteria for ecological tourism are considered and an algorithm for implementing an investment project on the territory of an object, a specially protected natural area, is developed on the example of the Tyumen region. When writing the article, we used the General scientific method (analysis, synthesis, logical method), statistical method, sample observation method, and system analysis. The main results of this study can be considered the development of an algorithm for evaluating investment projects in specially protected natural areas, as well as methods for their evaluation.

scholarly journals Organization of Interaction Between Participants in the Investment Process on the Basis of a systematic Justification of Multi-criteria choice

2021 ◽  
Vol 12 (2) ◽  
pp. 114-127
Author(s):  
S. Ye. Shchepetova ◽  
O. L. Trukhinova
Keyword(s):  
System Analysis ◽  
Mutual Influence ◽  
Investment Project ◽  
Investment Projects ◽  
Russian Economy ◽  
Investment Choice ◽  
Choice Procedures ◽  
Efficiency And Effectiveness ◽  
Investment Process ◽  
Hierarchy Process

The implementation of investment projects in Russia is associated with a lot of different problems caused by non-financial factors. The high degree of uncertainty of the investment situation, the lack of awareness and subjectivity of the decision-makers on the investment choice, the unreasonableness of the selection criteria, as well as the difficulties in the interaction of actors are due to the lack of systematic mechanisms for managing the investment process in the Russian economy as a whole. Together, they form a fairly voluminous complex of related problems. The article is devoted to the study of these problems and ways to solve them. It focuses on the mutual influence of the organization of interaction between participants in the investment process and investment choice procedures.Purpose: to develop proposals for the formation of mechanisms for interaction between stakeholders to ensure a systematic justification of the investment choice.Methods: in the preparation of this article, the methodology of applied system analysis and modeling is implemented, decision-making methods are used, including the Analytical Hierarchy Process.Results: the importance of the pre-investment stage of the investment process as the stage that generates most of the problems of stakeholders is argued. The approach to building system mechanisms of interaction of participants of the investment process at the pre-investment stage is justified. The schemes of such interaction and procedures for making investment decisions are proposed within the framework of the constructed modified model of multi-criteria investment choice. The formation of systemic mechanisms of interaction between participants in the investment process is carried out based on the need for a systematic justification of the multi-criteria choice of an investment project, taking into account the interests of all interested parties. The proposed methodology was developed through the development and modification of the Analytical Hierarchy Process by T. Saati and is aimed at improving the organization of the investment process and the implementation of investment choice based on generalized criteria of satisfaction, efficiency and effectiveness.Сonclusions and Relevance: the formation of system mechanisms of interaction of participants in the investment process at the pre-investment stage was carried out by developing a set of procedures that accompany the process of justifying a multi-criteria investment choice to achieve satisfaction, efficiency and effectiveness of the activities of all actors. The formation of system mechanisms of interaction of participants in the investment process allows to coordinate their interests, opportunities and limitations of the participants' activities, as well as to give the investment process purposefulness and manageability.

scholarly journals Sensitivity analysis as a decision-making tool for the implementation of an investment project in mining industry

2021 ◽  
Vol 21 (3) ◽  
pp. 295-303
Author(s):  
Elena A. Pozdnyakova ◽  
◽  
Liudmila A. Ramenskaya ◽  
Dmitrii S. Voronov ◽  
◽  
...  
Keyword(s):  
Sensitivity Analysis ◽  
Large Scale ◽  
Quantitative Methods ◽  
Mining Industry ◽  
Commodity Prices ◽  
Investment Project ◽  
Technical Equipment ◽  
Investment Projects ◽  
Sensitivity Analysis Method ◽  
Mining Projects

Introduction. Russian mining companies need to implement large-scale investment projects due to a variety of internal and external reasons. Projects are aimed at the development of new deposits, technical equipment and the modernization of existing ones. To make substantiated management decisions, a toolkit for analyzing the risks of investment projects is required. Theoretical analysis. The section contains the need to apply quantitative methods for assessing investment risks based on cash flow modeling. We have analyzed the possibility of the use of sensitivity analysis techniques, real options and Monte Carlo methods for the quantitative assessment of the mining industry investment projects risks. The result includes a justification of the feasibility of applying the sensitivity analysis method at the early stages of an investment project. Empirical analysis. The sensitivity analysis tested metrics such as production volumes, commodity prices, capital and operating costs on two mining projects. It was found out that the projects under consideration are the most sensitive to changes in the price of commercial products. Results. Sensitivity analysis is a useful tool for risk analysis of investment projects. The application of this method to an investment project in the mining industry should be carried out taking into account the industry specifics.

scholarly journals Planning, Accounting and Control as Risk Management Tools for Small Business Investment Projects

2021 ◽  
Vol 5 (5) ◽  
pp. 650-666
Author(s):  
Svitlana Bondarenko ◽  
Natalya Shlafman ◽  
Nataliia Kuprina ◽  
Olga Kalaman ◽  
Olena Moravska ◽  
...  
Keyword(s):  
Risk Management ◽  
Early Warning ◽  
Small Businesses ◽  
Negative Impact ◽  
Warning System ◽  
Investment Project ◽  
Investment Projects ◽  
Management Actions ◽  
Methodological Approaches ◽  
And Control

The purpose of this study is to develop scientifically sound proposals and recommendations for the implementation of planning, accounting and control tools in risk management of investment projects of small businesses. The relevance of this study is due to the need to provide small businesses with effective methods of risk management of the investment project, which can significantly reduce the negative impact of risk factors and achieve a significant effect from the investment. To achieve the goal of the study, methodological approaches were used to assess the risk sustainability of the enterprise, based on the assessment of the resource potential of the enterprise. A system of indicators is proposed to assess the quality of enterprise resources. Theoretical and methodological approaches to the formation of an early warning system in risk management have been developed. The proposed concept of indicative management includes tools for indicative control of investment projects in relation to the risk sustainability of the enterprise from the standpoint of its resource provision. Risks in this case become key indicators to which management actions should be directed. The introduction of a risk passport is proposed as a tool for early warning of crisis phenomena in small enterprises. The authors proved that the risk prevention system should be integrated into the overall organizational structure and become part of the enterprise management system. Indicative management is proposed as a tool for implementing functional strategies to prevent or eliminate threats and maximize their strengths and capabilities. Doi: 10.28991/esj-2021-01302 Full Text: PDF

The Staged Decision Model of Key Grid Project: Based on the Real Option Theory

2014 ◽  
Vol 1008-1009 ◽  
pp. 827-830
Author(s):  
Wei Hu ◽  
Kang Ren Huang ◽  
Zhi Yan Liu ◽  
Min Du
Keyword(s):  
Electricity Market ◽  
Real Option ◽  
Evaluation Model ◽  
Investment Decision ◽  
Investment Project ◽  
Option Value ◽  
The Real ◽  
Real Option Analysis ◽  
Investment Projects ◽  
Real Option Theory

With the continuous development of electric power construction and electricity market reform, power grid investment are facing more and more uncertainties. As to the Key Project investment evaluation for grid, single stage evaluation model is too simple to make an appropriate decision, which overlooked the option value of the investment project. Therefore, in view of the periodical characteristics of investment decision-making process of the grid company’s key project, this article based on the real option analysis methods, and divide the power grid’s key projects into multiple stage according to time sequence, to evaluate each stage’s option value, and to determine the overall value of the grid company’s key investment projects, which has also provided an new train? of thought for the assessment of risk investment projects.

scholarly journals Scenario approach in forecasting the efficiency of infrastructure projects for transport supply of international trade

2018 ◽  
Vol 239 ◽  
pp. 08010
Author(s):  
Vladimir Nekhoroshkov ◽  
Evgeniy Nekhoroshkov
Keyword(s):  
International Trade ◽  
Large Scale ◽  
System Analysis ◽  
Infrastructure Projects ◽  
Political Factors ◽  
Economic Relations ◽  
Investment Projects ◽  
World Economic ◽  
Scenario Approach ◽  
Transport Supply

In the current conditions for the development of the world economic system and against the backdrop of growing contradictions of various participants in trade and economic relations formed under the influence of both purely economic and political factors, when making investment decisions for the development of international business and projects, including infrastructure ones, it is necessary to take into account associated risks. Using the methodological approaches of system analysis of large-scale investment projects, which use expert methods to reduce the level of influence of risk factors and uncertainty, an analysis of the sensitivity of individual infrastructure projects to the influence of environmental factors was carried out. As a result of the study, it was shown that scenarios for the development of the external environment differently affect the infrastructure projects of different purposes that are allocated in the work. Each type of infrastructure projects has its own peculiarities: projects of transit value serve the trade and economic relations of European and Asian countries, infrastructure projects of regional importance contribute to strengthening trade and economic relations of border areas, and certain commercial railway lines provide access to mineral deposits. The findings can be used in forecasting the development of continental trade and economic relations, both in general and in individual industries, as well as in substantiating large-scale infrastructure projects that solve the problem of transport supply of international trade.

scholarly journals Sustainable ecological and economic development of mountainous areas through the prism of tariff regulation of nature management

2021 ◽  
Vol 255 ◽  
pp. 01042
Author(s):  
Mykhaylo Pityulych ◽  
Mariana Popyk ◽  
Galyna Kish ◽  
Olga Chakiy ◽  
Robert Bacho
Keyword(s):  
Natural Resources ◽  
Negative Impact ◽  
Investment Project ◽  
Nature Management ◽  
Mountainous Areas ◽  
Mountain Areas ◽  
Investment Projects ◽  
Main Factors ◽  
Harmful Substances ◽  
The Impact

The article is focused on the formation of an effective tariff policy for the use of natural resources and environmental pollution. The article substantiates that such a policy should be aimed at minimizing the negative impact of economic and business activities on the environment, which will ultimately increase the efficiency and rational use of available natural resources of separate mountain areas based on their development priorities. The main factors are outlined that stipulate for the complexity and urgency of solving environmental problems in mountain areas, where special attention is focused on the impact of existing economic entities on the use of local natural resources and the impact of their activities on the environment is determined. The article defines the methodological tools for calculating the assessment of the impact of investment projects on the environmental situation of a particular area where the investment project will be implemented. The study reveals methods for calculating two indicators related to emissions of harmful substances into the environment, in particular the calculation of the coefficients of ecological purity of productions for atmosphere and water in some separate areas.

Intelligent Lighting Control System in Large-Scale Sports Competition Venues

2018 ◽  
pp. 172-182 ◽  
Author(s):  
Shengmin CAO
Keyword(s):  
Control System ◽  
Large Scale ◽  
Comprehensive Evaluation ◽  
Evaluation Model ◽  
Fuzzy Comprehensive Evaluation ◽  
Practical Significance ◽  
Lighting Control ◽  
Sports Events ◽  
Planning And Design ◽  
Comprehensive Evaluation Model

This paper mainly studies the application of intelligent lighting control system in different sports events in large sports competition venues. We take the Xiantao Stadium, a large­scale sports competition venue in Zaozhuang City, Shandong Province as an example, to study its intelligent lighting control system. In this paper, the PID (proportion – integral – derivative) incremental control model and the Karatsuba multiplication model are used, and the intelligent lighting control system is designed and implemented by multi­level fuzzy comprehensive evaluation model. Finally, the paper evaluates the actual effect of the intelligent lighting control system. The research shows that the intelligent lighting control system designed in this paper can accurately control the lighting of different sports in large stadiums. The research in this paper has important practical significance for the planning and design of large­scale sports competition venues.

Crowdfunding as an Alternative Method of Raising Capital

e-Finanse ◽  
2018 ◽  
Vol 14 (4) ◽  
pp. 56-66
Author(s):  
Katarzyna Wierzbicka
Keyword(s):  
Financial Market ◽  
Comparative Research ◽  
Large Scale ◽  
New Ventures ◽  
Secondary Data ◽  
Polish Literature ◽  
Investment Projects ◽  
Research Task ◽  
Type Of Institution ◽  
Insufficient Knowledge

AbstractCrowdfunding is a method of financing new ventures, commercial, cultural or social, often in return for future products or actions, engaged in by many investors. Currently, it is an important element in the structure of available sources of financing for investment projects. Despite the interest of potential investors, individual social sponsors and large-scale activities of institutions promoting knowledge about the functioning of crowdfunding aimed at encouraging and promoting it as a source of capital for new ventures, there is a lack of knowledge and, consequently, experience on its development and achievement. The aim of this study is to analyze this source of financing, assess its development globally and in Poland. In the preparation of the article,. a critical analysis of foreign and Polish literature was carried out, and descriptive and comparative research methods applied. The research task undertaken in the study was to analyze the crowdfunding market globally and in Poland. The Polish crowdfunding platforms were detailed and compared in terms of value in relation to the largest global platforms. The source for analyses of crowdfunding development in Poland was available literature on the analyzed topic and secondary data from the websites of specialized internet platforms. The article depicts a new, but important, aspect of financing the activity of enterprises, which is crowdfunding. It should be emphasized that there is still insufficient knowledge about this type of institution and, as a result, the importance and role that social financing plays in the financial market.

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