Universal criteria system for innovation project assessment

Specific features of criteria used by investors in innovation project assessment to identify the most perspective business ideas are considered in the article. Weakness of the criteria lists used in modern assessments is revealed. An approach to creation of new criteria system that represents interactions between criteria is described. Stages of forming such system, that include separation of criteria into groups, definition of nature of interaction between criteria and possibility of usage of facts, objective information about a project to provide qualitative assessments are also considered. Above 50 business-plans and requests for investment have been already researched. In addition to traditional classification, qualitative and quantitative groups of criteria, authors take into consideration classification-qualitative characteristics. This type of criteria allows to divide alternatives into groups according to facts known about each project. At the same time, expert can get qualitative assessments of projects by making comparison among the groups using the same criteria. Information about the project can be interpreted in different ways depending on the values of different characteristics. In example, targeting on local market means small degree of implementation for projects based on unique results of scientific research, as usually unique products have a potential to hold the global market. At the same time being the first on the local market can be a result of successful and vast implementation for smaller projects, focused on minor improvements of existing products. Interconnections between criteria are represented on a diagram in the article. Results of current research can be used as a base for expert system, an instrument for project assessment automation

Keywords: innovation projects’ estimation, expertise, criterion, criteria system, business-idea, investment


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