Methodological provision of analysis of the efficiency of investment activities of enterprises

Abstract

The paper is devoted to the disclosure of the main provisions of methodological support for the analysis of the investment activity of enterprises and practical recommendations on the use of methods for evaluating the effectiveness of the implementation of investment projects for decision-making. Making investment decisions is based on the use of various formalized and informal methods and models, taking into account the following factors: changes in the value of money over time; alternative value of resources; cash flows generated by the project; uncertainty and risk; inflation, price changes and currency exchange rate fluctuations; investment goals and investor psychology; possible changes in project parameters; synergies between investment projects of the enterprise. When forming the list of monitoring indicators, those aspects of the business entity's investment activity that are most important for owners, investors and management organizers were highlighted. It is proposed to form a system of performance indicators of the enterprise's investment activity in accordance with the sphere of investment: production, marketing, technology, organization. The principles of investment activity analysis and recommendations on the procedures for analyzing the effectiveness of project implementation have been formed, the choice of which depends on the management goals aimed at achieving a stable cash flow and ensuring the financial stability of the enterprise. The essential characteristics, advantages and disadvantages of the existing approaches to evaluating the effectiveness of investment projects are revealed. A system of indicators and criteria for the analysis of the effectiveness of investment activities of indicators characterizing the effectiveness of investments depending on the sphere of investment of funds: production, marketing, technology, organization are proposed. Recommendations for choosing a specific method for evaluating the effectiveness of investment projects in the context of achieving the priority goal - maximizing project profitability, risk acceptability and investors' interests are substantiated.