ECONOMIC EVALUATION AND JUSTIFICATION OF ENGINEERING PROJECTS FOR MACHINE-BUILDING ENTERPRISES
Synopsis
Increasing business activity and improving the financial performance of most domestic enterprises require the implementation of a large-scale program to update their technical and technological base. This includes replacing outdated equipment, technologies, and products, as well as improving production organization and management. Enhancing the technical and organizational level is particularly important for enterprises in high-tech industries, such as machine-building. Currently, the competitiveness of most domestic machine-building enterprises is low, which naturally leads to reduced demand for their products and a decrease in production volumes.
The modernization of the technical and technological base of machine-building enterprises requires the implementation of investment projects aimed at introducing advanced equipment and technological processes, creating and manufacturing innovative products, etc. A significant portion of the work related to the development and implementation of these measures can be carried out by specialized organizations—engineering firms. However, the feasibility of purchasing their services requires prior justification through the development of corresponding engineering projects, which are a type of investment project.
Contemporary scientific literature presents numerous methods and approaches for evaluating the effectiveness and justifying the feasibility of investment projects at enterprises. However, insufficient attention has been paid by scholars to the specifics of engineering works and services as a design object, as well as to the sectoral aspects of their implementation.
The aim of the study is to develop theoretical principles and provide methodological and practical recommendations for improving approaches to economic evaluation and justification of engineering projects for machine-building enterprises. Achieving this goal necessitated the solution of the following tasks:
further development of the theoretical foundations for the economic evaluation and justification of engineering projects at the enterprise;
development of methodological principles for analyzing and diagnosing the current technical and organizational level of machine-building enterprises;
development of a method for justifying the feasibility of acquiring services provided by engineering firms for machine-building enterprises;
improvement of the methodological foundations for forming engineering work programs at machine-building enterprises;
development of a method for assessing the economic efficiency and justifying the feasibility of implementing individual types of engineering projects at machine-building enterprises;
improvement of methodological and practical foundations for justifying the selection of engineering projects and forming their portfolio at machine-building enterprises.
The object of the study is the processes of evaluating the effectiveness and justifying the feasibility of implementing engineering projects at machine-building enterprises.
The subject of the study is the theoretical, methodological, and practical foundations for evaluating the effectiveness and justifying the feasibility of implementing engineering projects.
The practical significance of the results lies in the possibility of applying the methodological recommendations by managers and specialists at all levels of machine-building enterprises. These recommendations include: analyzing and diagnosing the current technical and organizational level of machine-building enterprises; justifying the feasibility of involving engineering firms' services; planning an engineering work program at machine-building enterprises; evaluating the economic efficiency and justifying the feasibility of implementing individual engineering projects; and forming an engineering project portfolio at a machine-building enterprise.
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