The main criteria for the evaluation of innovative...

The main criteria for evaluating innovative projects

In order to reduce the risk of innovation to an entrepreneurial firm, it is first and foremost necessary to carefully evaluate the proposed innovative project. An innovative project, effective for one enterprise, may prove ineffective for another due to objective and subjective reasons, such as the territorial location of the enterprise, the level of personnel competence in the main areas of the innovation project, the state of fixed assets, etc. All these factors have an impact on the effectiveness of the innovation project, but it is very difficult to quantify them quantitatively, and in some cases it is not possible, so they should be taken into account at the stage of project selection. Since there are specific factors at each particular enterprise that affect the effectiveness of innovation projects, there is no universal system for evaluating projects, but a number of factors are relevant to most innovative enterprises. On the basis of these factors, certain criteria are singled out for the evaluation of innovative projects.

When implementing innovation projects, priority and supported by the state should be those projects that are focused on the final socio-economic results. In Table. 4.4 provides a recommended list of criteria for evaluating innovative projects [14].

It is important to note that the top-level indicators, priority areas (indicators of the final result) are indicators important for the level of the national economy as a whole. They are mandatory for evaluation and control at all subsequent lower hierarchical levels that solve particular tasks (socio-economic priorities and key problems, priority areas of STP, state scientific and technical programs, projects implementing these programs). At the next level of key problems (for example, providing heat and energy), internal autonomously used at this level are added.

Table 4.4

List of criteria for evaluating innovative projects

Social and economic characteristics: social quality of life: well-being, health, personal security, culture, education, life, employment level, contribution to solving the most important problems of US development, providing the population with heat and energy. , food, medical services and medicines, transport and communications;

economic (improving economic efficiency): increasing the efficiency of using labor, material and financial resources, creating new cost-effective products, contributing to major structural shifts in the economy

Market parameters:

competitiveness of products in the domestic market (demand, import substitution, product profitability, economic efficiency of investments, position in competition, commercial risk);

competitiveness of products on the external market (demand, increase in export potential (volume of foreign exchange earnings), economic efficiency of investments, position in competition, commercial risk)

Ensuring national security:

contribution to the defense capability of the United States, environmental safety, reduction of emissions of harmful substances in various natural environments (atmosphere, water, land), nature restoration activities

Scientific and technical characteristics :

conformity to the world level (competitiveness of know-how); contribution to the support of the leading position of United States science and industry, to the development of other scientific and technical areas, to major technological changes, to the development of scientific and technical potential; degree of novelty;

inclusion in previous programs and plans

Scientific and technical characteristics:

conformity to the world level (competitiveness of know-how); contribution to the support of the leading position of United States science and industry, to the development of other scientific and technical areas, to major technological changes, to the development of scientific and technical potential; degree of novelty;

inclusion in previous programs and plans; development time;

degree (probability) of project feasibility; presence of a fundamental reserve, personnel of researchers of the highest qualification, experimental and production base; technical and organizational risks of project implementation on time

Economic characteristics: project costs, R & D, R & D, prototype; investment in the creation of production, in the production process (working capital);

the payback period of costs and other integral characteristics; expected profit (potential size of total profit, expected size of foreign exchange profit); the time of the commencement of profit; return on investment (investment)

As a result, a system of criteria is formed that makes it possible to assess the contribution of an innovative project of any level in achieving the ultimate goals of reforms and use this information for the appropriate allocation of resources for the implementation of such projects. [21]

The full evaluation of the innovation project includes an analysis of all the above criteria and the main elements of the project implementation. In order to reduce the results to an integrated whole in order to obtain an overall assessment, the criteria listed in Table 1 can be used. 4.5.

Table 4.5

Innovation Projects Evaluation Framework








Goals , strategy, policy and enterprise values ​​

1. Compatibility of the project with the current strategy

2. Consistency of the project with the views of consumers about the enterprise

3. Correspondence of the project to the enterprise's attitude to risk

4. Temporary risk aspect


1. Matching the project to specific market needs

2. Estimating total market capacity

3. Estimation of market share

4. Probability of commercial success

5. Possible sales volume

6. Evaluation of competitors

7. Consistency with existing sales channels

8. Public opinion about a new product

Research and development work

1. Correspondence of the project of an innovative enterprise strategy

2. Probability of technical success

3. Cost and time of project development

4. Absence of patent violations

5. Availability of scientific and technical resources

6. The possibility of future product development and further application of the implemented technology

7. Consistency with other innovative projects of the enterprise

8. The presence of harmful effects of the product and the process of its production on the environment

9. Conformity of the project with current and prospective legislation on environmental protection


1. The cost of research and development

2. Production costs

3. Cost of marketing research

4. Availability of funds in the required time

5. Coherence with financing of other projects of the enterprise

6. Expected Rate of Return

7. Compliance of the project with the criteria for the effectiveness of financial investments made at the enterprise


1. Correspondence of the number and qualification of the research and production personnel of the enterprise for the implementation of the innovative project

2. Consistency of the project with the existing capacities of the enterprise

3. Cost and availability of necessary raw materials, materials, components

4. Production costs

5. Production safety level

Note. 5 - very high score; 4 - high score; 3 - satisfactory assessment; 2 - low score; 1 - very low score.

In order to get a full assessment of the innovation project, experts need to evaluate each position, and then make a decision on the effectiveness of the analyzed project on the basis of a generalized assessment.

To assess the qualitative characteristics, the content of information is required, the composition of which is regulated by the appropriate forms of documents (Table 4.6).

After the selection of priorities, it is necessary to determine the strategic directions for the development of innovative activity and methods of state support for innovative entrepreneurship (Table 4.7). The start-up strategy (low-cost) may include more efficient use of resources in such sectors as telecommunications, food and light industry, construction and timber processing, small business. At the second stage, a strategy of concentration of efforts in industries where Russia has certain competitive advantages (biotechnology, information technology, aerospace and defense industry) is possible. At the third stage, it becomes possible to implement strategies for creating new technologies in industries where Russia has market positions, and then enter new markets.

Table 4.6

Objective data and highlighted characteristics of innovative projects




Improving economic efficiency; contribution to the solution of key social and economic problems;

competitiveness in the domestic market; contribution to major structural shifts; contribution to environmental safety; full costs (in dynamics); full R & D costs:

- by technology;

- on the enlarged technologies;

- in priority areas


Presence of customers (consumer); competitiveness in the external market; competitiveness in the domestic market; contribution to the development of other priority areas;

contribution to the development of scientific and technical potential; degree of novelty, prospects; conformity of scientific and technical products to the world's forecast; available scientific and technical potential for the problem;

risk (realizability): scientific and technical, organizational, commercial; required support (public, private investors, etc.)

State support of innovation activities

Measures of state support of innovation activity

Strategy 1

Strategy 2

Strategy 3

Enabling private sector R & D costs

Write-off of a significant part of scientific equipment on accelerated depreciation rates

The application of the system of targeted tax benefits aimed at the constant increase in the volume of scientific expenditures in large corporations and the attraction of small and medium-sized businesses to innovative activities in the field of new technologies

Preferential crediting of scientific and technical developments and equity financing of large projects

The transfer or provision on concessional terms of state property or land for the organization of innovative enterprises (mainly in education or for small and medium businesses), as well as the creation of scientific infrastructure in the regions

All three strategies assume the appropriate support of the state, the creation of both external and internal conditions. External conditions include measures of state regulation (taxes, duties, tariffs) aimed at stimulating innovation and ensuring competitiveness.

Internal conditions include restructuring and reforming existing innovative enterprises and organizations to improve management efficiency. As a result, the solvency of innovative enterprises is restored, and the potential for growth in their value and investment attractiveness is created.

In the external environment, a special place is occupied by federal programs (including for innovative enterprises), as well as grants, grants for scientific organizations.

The R & D plans envisaged in the program for the development of innovative activities should be the basis for the formation, in the framework of other federal programs, of activities and projects for the development of new types of products, technologies, materials, progressive management methods, the creation of new production and re-equipment of existing production facilities. >

At the same time, specific working methods will be different for different levels (structural program, including scientific and technical projects, priority direction of NTP, target scientific and technical program, project as part of the program, etc.). Methods of selection and implementation of priorities also differ for developments at different phases of the life cycle. There are three types of development and corresponding programs.

A. Projects, for which there are ready-made samples, form the basis of the market of innovative programs, which give the main practical impact. The basis of their marketing is the activation of demand for the results of innovations and their promotion to the market, the creation of a favorable investment climate. In general, indirect methods of management (through the provision of benefits, etc.) are used. Direct methods and budgetary allocations are used through federal and interstate programs to address critical development problems.

B. Priority objects that are at the final stages are the basis of state scientific and technical programs aimed at solving medium-term (3-7 years) key problems.

The basis of the corresponding procedures are direct management methods, based on the program-target approach, highlighting key problems and critical technologies, holding contests and concluding state contracts.

B. Fundamental and exploratory long-term (7-15 years) key development issues. The basis for their implementation is basic funding with monitoring (assessment and identification of breakthrough areas, critical technologies for inclusion in type B).

The priority type of development requiring direct government support is type B. The main principle of selecting scientific achievements as priorities of STP should be their orientation to contribute to the achievement of the most important final socio-economic goals.

thematic pictures

Also We Can Offer!

Other services that we offer

If you don’t see the necessary subject, paper type, or topic in our list of available services and examples, don’t worry! We have a number of other academic disciplines to suit the needs of anyone who visits this website looking for help.

How to ...

We made your life easier with putting together a big number of articles and guidelines on how to plan and write different types of assignments (Essay, Research Paper, Dissertation etc)