Profitability of investment of innovation project

As is known, profitability is a generalized parameter of the overall effectiveness of economic activity. This indicator is especially important when it comes to investment activity in the sphere of innovative development. In this case, return on investment shows the amount of profit received per investment unit.

Important conditions for successful innovation development are other areas of its implementation. For example, there is also obvious the need for effective management of the development and implementation of innovative projects in order to ensure the return on investment. Since the management of scientific research and development, depending on the stages of their conduct, has its own specifics and is carried out for the most part in conditions of uncertainty, the management system can be continuously changing as the project progresses.

The most acceptable method under the present conditions of development is the program-target, which is based on the program as a form of concentration of resources for solving the tasks of the planning period and a system of methodical techniques that ensures the constant orientation of managerial activities, planning and management decisions and the processes of their implementation to achieve the final results.

Interactivity of the planning process as one of the principles of the program-target approach, allows to ensure the balance of the plans, based on the tasks and resources to be performed according to the efficiency criterion - cost - return on investment for the whole life cycle of the project.

Individual and collective interest in achieving the project's goals is extremely important, which has a decisive influence on the return on investment. Analysis of foreign experience (USA, Canada, European countries) confirms that successful and successful projects are always led by capable and committed leaders who unite the efforts of all performers, providing a high degree of motivation for their work. At the same time, as a leader there should be a person not only possessing scientific and technical knowledge, but also being a professional manager, who knows how to carry out a business that is ready to take risks for success, and also to take responsibility for the decisions made. For successful implementation of the program of innovative development of the economy today, professional managers in innovation management are required .

The world practice proposed and tested the measures of direct and indirect regulation of the processes of creation and commercialization of objects on the basis of which new products and technologies appear on the market. The current system of stimulating the creation, protection and commercialization processes allows authors to receive remuneration of 10% of the net profit received.

However, if this is a good incentive for the inventor, for the team that is developing the technical documentation, making a prototype and bringing it to the stage of industrial development, the incentive system is practically absent or very insignificant (3% of the profit for promoting the use of inventions). Such a situation, of course, affects the profitability of investments directed to financing innovative activity.

In such conditions, the role of the analysis of the profitability of the use of investment resources, the key indicator of which can become roi, is significantly increased. The profitability of investments in its use for analysis and evaluation is characterized by the total return on investment. This coefficient is calculated as a financial indicator representing the ratio of the mathematical amount of profit and the difference in the use of investment funds to the absolute value of the investment amount.

It should be assumed that the current incentive system and, not least, the support of top managers, have a significant impact on the innovative susceptibility of any organization to innovations.